Return to Modules Objectives: Define and examine money, the Federal Reserve, and the money supply Define inflation and the consumer price index (CPI) Describe the role of monetary policy in determining inflation Reading For This Module: From “Introducing Economics through … Continue reading
Return to Modules Objectives: Describe the role of government in a market economy Discuss how property rights and other basic public goods are critical for a market economy Review the federal government budget, highlighting the major expenditures and revenue sources, as … Continue reading
Return to Modules Objectives: Describe why we trade and the sources of gains from trade Introduce the idea of globalization Discuss how trade is measured Briefly introduce exchange rates and other topics related to international trade Reading For This Module: … Continue reading
Return to Modules Objectives: Provide an overview of how our economy is measured and discuss important macroeconomic indicators (like unemployment) Reading For This Module: From “Introducing Economics through a Collection of Free Articles by Economists”: Gross Domestic Product by Lincoln … Continue reading
Return to Modules Objectives: Describe the role of competition in a market economy Understand the causes and effects of monopoly Examine the role of profit in a market economy Reading For This Module: From “Introducing Economics through a Collection of … Continue reading
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(go back to Modules list) Objectives: Define markets, scarcity, and economic systems Describe the “Law of Demand” and the “Law of Supply” Introduce the concept of market equilibrium Reading For This Module: From “Introducing Economics through a Collection of Free … Continue reading
Return to Modules Objectives: Utilize the Water/Diamond Paradox to understand what determines value Introduce “thinking on the margin” and its role in economics Define the “labor theory of value” and critically examine its pitfalls Apply cost-benefit or marginal analysis to … Continue reading
