Tracing the history of labor unions and methods of contract negotiation by labor and management (Alabama)
Describe methods used to measure overall economic activity, including the Gross Domestic Product (GDP), the Consumer Price Index (CPI), inflation, and unemployment.
Explaining how overall levels of income, employment, and prices are determined by spending decisions of households, businesses, and government; net exports in the short run; and production decisions of firms and technology in the long run
Identifying structural, cyclical, and frictional unemployment
Describing stages of the business cycle and how employment and inflation change during those stages
Explain the structure, role, and functions of the United States Federal Reserve System.
Describing how the United States Federal Reserve System oversees the banking system and regulates the quantity of money in the economy
Defining monetary policy
Describing how the central bank uses its tools of monetary policy to promote price stability, full employment, and economic growth
Explain how the government uses fiscal policy to promote the economic goals of price stability, full employment, and economic growth.
Defining fiscal policy and the use of taxation and government purchases
Comparing government deficits and the national debt
Explain why individuals, businesses, and governments trade goods and services in the global economy.
Defining absolute advantage and comparative advantage
Explaining how gains from trade, whether between two individuals or two countries, are based on the principle of comparative advantage
Defining exchange rates
Explaining how changes in exchange rates impact purchasing powers of individuals and businesses
Explaining tariffs, quotas, embargoes, standards, and subsidies as trade barriers
Explaining why countries sometimes impose trade barriers and sometimes advocate free trade
Contemporary World Issues and Civic Engagement
Describe current news stories from various perspectives, including geographical, historical, political, social, and cultur
Evaluating the impact of current news stories on the individual and on local, state, national, and international communities (Alabama)
Comparing current news stories to related past events
Analyzing news stories for implications regarding nations of the world
Locating on a map areas affected by events described in news stories
Interpreting statistical data related to political, social, and economic issues in current events
Compare the relationship of governments and economies to events occurring in specific nations.
Identifying recurring historical patterns in regions around the world
Describing costs and benefits of trade among nations in an interdependent world
Comparing ways different countries address individual and national economic and social problems, including child care, tax rates, economic regulations, health care, national debt, and unemployment
Compare civic responsibilities, individual rights, opportunities, and privileges of citizens of the United States to those of citizens of other nations.
Analyze scientific and technological changes for their impact on the United States and the world.
Analyze cultural elements, including language, art, music, literature, and belief systems, to determine how they facilitate global understanding or misunderstanding.
Compare information presented through various media, including television, newspapers, magazines, journals, and the Internet.
Explaining the reliability of news stories and their sources
