Unit 1: Fundamental Economic Concepts and Reasoning

• Scarcity and Choice
• Opportunity Costs
• Economic Systems
• Market Economy
• Public vs. Private Goods
• History of Market Power in the United States

Unit 2: The American Market Economy

• The American Market Economy
• Adam Smith
• Supply and Demand
• The Role of Price
• Price Controls
• Financial Markets and Banks

Unit 3: Government Influence on the American Economy

• Costs and Benefits
• History of Government involvement
• Environmental Protection
• Federal Budget
• Aggregate Demand and Supply
• Fiscal Policy
• Monetary Policy
• Federal Reserve Banking System

Unit 4: Labor Markets

• Work
• Competition in the Labor Market
• California's changing Labor Market
• Poverty and income distribution
• International issues and employment

Unit 5: Aggregate Economic Behavior

• Measuring economic activity
• Economic Goals
• Business cycle and short-term fluctuations
• Money and Currency
• Interest rates

Unit 6: Global Economics

• Globalization and Trade
• Exports and Imports
• Globalization and Foreign Policy
• Critics of Globalization
• Economic Development