Economics

In this unit, students will explore foundational economic concepts by examining scarcity, resource allocation, economic systems, production possibilities, comparative advantage, trade, cost-benefit analysis, marginal analysis, and consumer choice.

In this unit, students will analyze how supply and demand shape markets by examining elasticity, market equilibrium and disequilibrium, changes in equilibrium, government intervention, international trade, and public policy.

In this unit, students will examine how businesses make production decisions by analyzing the production function, short- and long-run costs, types of profit, profit maximization, and the perfect competition model.

In this unit, students will evaluate imperfectly competitive markets by examining monopoly, price discrimination, monopolistic competition, and oligopoly.

In this unit, students will analyze market failure and the role of government by examining the business cycle, GDP, fiscal policy, monetary policy, and the Federal Reserve.

In this unit, students will examine international trade and finance by analyzing comparative advantage, specialization, absolute versus comparative advantage, global organizations and agreements, currency and exchange rates, and differences between developed and developing economies.