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Previous Lessons

1/31/2007 Coins, Commodities, Currencies, and African Stock Markets

12/6/2006 BEEU Lesson 4: The Trader, The Investor, and The Speculator

11/1/2006 Real Estate, Real Estate, Real Estate

10/4/2006 Lesson 3: The Investment Portfolio: Balancing Wants, Needs, Risks and Rewards Over Time

9/13/2006 Lesson 2: Saving, Pooling, Compounding and Multiplying

8/23/2006 The ABC's Of Financial Literacy and Business Journalism

5/17/2006 Lesson 6: The Culture Of Execution: Aligning The Six M’s: Motive, Model, Method, Measurement, Management and Money

5/3/2006 Lesson Review 5a and 5b

4/12/2006 Lesson 5b: Writing The Business plan and Raising Capital

3/29/2006 Lesson 5a: Writing The Busines Plan and Raising Capital

3/15/2006 What Market Or Business Are You Really In?

2/22/2006 Lesson Review - Questions and Answers Lessons 2 and 3

2/15/2006 BEEU Lesson Review (1,2,3)

2/1/2006 Standardizing Your Business

1/25/2006 From Idea To Vision To Decision

1/11/2006 The Science Of Business

1/10/2006 BEEU 2006 Semester One, "Doing For Self Through The Science Of Business", Course Schedule

1/14/2004 Branding, Brokering And The Art Of Deal-Making


Each Lesson at BEEU:

- is delivered in audio or written form.

- is followed by lesson answered via conference call or e-mail.

- comes with related recommended readings related

- enables students to have dialogue with one another over course material.

* All Students registering before Wednesday, December 10, 2008 receive an exclusive BEEU Memo: “20 Economists You Should Know and Why”

Semester One:

Lesson 1: The Root Cause Of The Financial Panic of 2007-2008 And The Difference Between Finance and Economics

Date: Wednesday, December 17, 2008

Description: While information abounds, there are a few aspects to the mortgage meltdown and systemic collapse of the banking system that were ignored or which deserve further attention. In this Lesson Cedric Muhammad tells how this all started 35 years ago, and why the world may be headed for another Great Depression because of it. The difference between finance and economics is made clear.

Key Reference: The October 9, 2008 edition of The Diane Rehm Show “The International Response to the Financial Credit Freeze” and “The Future of American Capitalism.” Available online at: http://wamu.org/programs/dr/08/10/09.php#21985)

Lesson 2: The Economic Cabinet Of The President, In Recession and Depression

Date: Wednesday, January 21, 2009

Description: A review of the economic advisers surrounding President Barack Obama, their background and ideology, and their likely impact on U.S. fiscal, monetary, and trade policy. Are their hidden business interests behind the throne of every President, calling the shots? What should the new President learn from past administrations in Recessions and the Great Depression? This lesson compares the incoming administration to previous Presidential Cabinets. It also looks at the in-fighting that takes place among economic advisers, key White House power centers - including the National Security Council - and other branches of government.

Key Reference (s): "The Presidency Of Herbert C. Hoover" by Martin L. Fausold; No Ordinary Time: Franklin and Eleanor Roosevelt: The Home Front in World War II by Doris Kearns Goodwin; JFK: The CIA, Vietnam and the Plot to Assassinate John F. Kennedy by L. Fletcher Prouty Nixon's Economy: Booms, Busts, Dollars, and Votes by Allen Matusow;The Price of Loyalty: George W. Bush, the White House, and the Education of Paul O'Neill by Ron Suskind; Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider

Lesson 3: Bretton Woods II: Toward A New Global Monetary System

Description: The recent G-20 Summit was only a preview of what we can soon expect – a repeat of the historic 1944 international monetary conference in Bretton Woods, New Hampshire, where a global financial arrangement was made around a gold exchange rate system and where a single world currency was mentioned. The Panic of 2007-2008 has produced a problem and crisis that only a unified effort of the world’s top economic thinkers world’s central bankers, finance ministers, and treasury securities can address. This lesson goes over the history of Bretton Woods, and points to the future - key figures to watch, and possible alliances and debates.

Date: Wednesday, February 4, 2009

Key Reference: The Way The World Works by Jude Wanniski

Lesson 4: Establishing The United States Of Africa, Under A Single Currency, Backed By Gold

Date: Wednesday, February 18, 2009

Description: The effort to unite the nations of Africa, politically, culturally, and economically is now reaching a critical stage where the subject of a single currency must be addressed. The African Union’s current approach to a single currency is critiqued and a plan to get Africa to a single currency, backed by gold is presented

Key Reference: “‘As Good As Gold:’ An African Single Currency;” November 14, 2008 paper presented by Cedric Muhammad to the African Union.

Lesson 5: Risk and Insurance: From Wall Street To Las Vegas To The World Of Religion

Date: Wednesday, March 4, 2009

Description: Reuven Brenner’s new book (co-authored by Gabrielle A. Brenner and Aaron Brown) is the focus of this lesson of which Henry G. Manne, Dean Emeritus of George Mason Law School writes: “Did you know that the modern insurance industry is a direct outgrowth of gambling? Did you know that poker provided one of the most important sources of capital for penniless Western frontiersmen in the United States? Did you know that major opera houses of Europe began as gambling halls with the theaters attached (history, if not always the quality of music, repeats itself in Las Vegas)? Do you know the real reason the NFL resists the legalization of sports betting in America? For the fascinating answers and insights into the politics, the finance, and the economics of that over-maligned pastime, gambling – and yes, including the surprising role it has frequently played in finance – read A World Of Chance.” This lesson takes a look at what divides and unites religion and business on the subject of gambling, risk-taking and insurance.

Key Reference: A World Of Chance: Betting On Religion, Games, Wall Street by Reuven Brenner, Gabrielle A. Brenner, and Aaron Brown

Lesson 6: The Five Sources of Capital, the African Independence Movement and The Birth of Organized Crime In Black America

Date: March 11, 2009

Description: Reuven Brenner’s seminal five sources of capital thesis maintains that there are three sources of capital – inheritance, capital markets, and savings, and when the first three are unavailable, people turn to a fourth and fifth – government and crime, respectively. This lesson connects two unique events – the independence movement in Africa in the 1950s, 60s and 70s, and the emergence of organized crime in Black America in three cities, to test the insight of this thesis. It is the kind of mixture politics, culture and economics that is unique to BEEU.

Key Reference: Force Of Finance by Reuven Brenner, The Science of Business by Cedric Muhammad

Lesson 7: Building Wealth Through Ethnic Networks, Rotating Credit & Savings Associations and Investment Clubs

Date: Wednesday, March 25, 2009

Description: What is the secret to the wealth of immigrant communities in America? Internal unity and indigenous pools of capital, this lesson states. Whether it is the Jewish community, Chinese, Italian, Irish, Indian, or West Indian or West African community, the principles are universally applied. BEEU incorporates these lessons and applies them to the popular phenomenon of investment clubs

Key Reference: Unpublished Excerpt: The Science of Business by Cedric Muhammad

Lesson 8: Banking 101

Date: Wednesday April 8, 2009

Description: What exactly is a bank? What is the fractional reserve banking system? What is the difference between the capitalization of a bank on one hand, and its liquidity on another? How has the Panic of 2007-2008 altered the business model of banking? How does the Western banking system compare to that of others, including the emerging world of Islamic finance? This lesson drills down on the fundamentals of banking with an eye toward the trends and changes to the industry on the horizon.

Key Reference: Interview Of Robert Patrick Cooper, Senior Counsel, OneUnited Bank (http://www.oneunited.com/)

Lesson 9: Investing In Financial Markets 101

Date: Wednesday, April 22, 2009

Description: What should one consider as they invest in stocks, bonds, currencies and commodities? Can money still be made in a global economic slowdown? How can one connect formal investing in capital markets with informal cooperative economics practiced on a neighborhood and personal network level? This lesson offers answers from a unique and experienced professional – who puts money to work on Wall Street, in the local neighborhood, and around the world.

Key Reference: Guest Lecture – Glenn C. Williams, Foundation Investments Group (http://www.foundationllc.com/)

Lesson 10: Personal Finance: Savings, Credit, Spending and Debt In A Falling Economy

Date: Wednesday, April 29, 2009

Description: When looking at strategies for personal finance you don’t just want to know how to make money, you want to know how to address foreclosures, collections, repossessions, bankruptcies, student loans, judgments, late payments and more. Could the key to so many problems be basic principles and strategies related to saving and spending? This lesson indicates so.

Key Reference: Guest Lecture – Harrine Freeman, Author How to Get Out of Debt: Get an "A" Credit Rating For Free; H.E. Freeman Enterprises Credit Repair Counseling and Personal Financial Services (http://hefreemanenterprises.com/)

Lesson 11: An Analysis Of The Economic Programs of The Honorable Elijah Muhammad and The Honorable Marcus Garvey

Date: May 6, 2009

Description: Did integration undermine the economic strength of Black America? Is Black economic nationalism a thing of the past or only an ideological-rhetorical construct with no real application? Is Black community development only possible with the help of Wall Street and government programs? This lesson considers the two greatest examples of indigenous economic development in the history of Black America – the economic blueprint of the leader of the Nation of Islam, the Honorable Elijah Muhammad, and the program of the leader of the United Negro Improvement Association (UNIA), the Honorable Marcus Garvey. For years the similarities and differences between these two histories have been exaggerated. This lesson refers to little-known history in an effort to end superficial romanticism in support of both programs, and to counter wicked propaganda leveled against them. Whether both programs might provide a viable economic model in a global economic slowdown is explored and discussed.

Key Reference: Unpublished excerpts: The Science of Business

Lesson 12: Improving Black America's Capital To Labor Ratio

Date: May 20, 2009

Description: In this course finale the subject of the relationship between unemployment and incarceration rates; savings, stock and home ownership rates; and the size of Black-owned small businesses reveal the economic health of Black America. The insight points to a mix of regulatory and fiscal policies that can help address economic development and growth. In this lesson empowerment zones, access to capital, renewal communities, tax policy and barriers to business and capital formation are analyzed, and an agenda outlined for positive change.

Key Reference: "Riot or Renaissance?: Black America’s Capital to Labor Ratio," by Cedric Muhammad

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