This category covers a lot of material. Multiple chapters are included from the main resource. Individual instructors might consider breaking this down into smaller subcategories, or tying individual objectives to other categories; for example, LO2 might be covered in monetary policy, and LO 3 might be covered in discussion of the AD/AS model.

The presentation suggested by this topic is not universally used, but is an option. The objectives assume a closed economy with no flow of goods, services, or investment. Availability of quality material using this approach is limited with the OER materials available, and may require additional resource creation in the future.

This is a lesson on the basic economic tools of supply and demand.  Students will use be introduced to the potential results of the interactions of buyers and sellers in a market using basic supply and demand data.  Students will be asked to explore different examples of the use of market information to determine market price and the reasons for changes in market price.

This topic is considered optional as it would primarily be part of a principles of microeconomics course. If microeconomics is a prerequisite for macroeconomics, this topic can either be skipped entirely, or could be reviewed briefly. In some macroeconomics principles courses, this may need to be presented as new information. Learning objectives of particular interest for a macro course are 1, 2, 7, and 8. Please note that some of the learning objectives contained in this section may overlap with the International Trade unit.

Principles of Microeconomics covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

This topic presents an evaluation of the effect on competition of scale economies, and acquisitions and mergers.  It also covers methods of measuring market concentration as well as a discussion of possible policy measures designed to limit the damage from concentration.

In this topic, students will be introduced to the concept of elasticity.  They’ll learn about price elasticity of demand and price elasticity of supply, about their determinants and how to calculate it.  They’ll be introduced to some applications of price elasticity.  They’ll also learn about two other important elasticity measures, cross-price elasticity and income elasticity.  

In this topic, students will be introduced to imperfect competition.  They’ll learn about monopolistic competition and oligopoly, about their characteristics are and about how they differ from perfect competition and monopoly.  They’ll also focus on the importance of the key features of monopolistic competition, product differentiation and advertising; and the key features of oligopoly, mutual interdependence, collusion and the game-theoretic approach to strategy.     

This topic examines income inequality, poverty, and discrimination in the U.S. and around the world. The focus is on the U.S. with comparative discussion on other select nations. It provides evidence on poverty trends and a discussion on the causes of poverty. It also provides evidence on income distribution and a discussion on the causes of income inequality. The impact of discrimination on wage earnings is examined. There is an emphasis on policy measures to address poverty and income inequality.