As the one-semester, senior high school economics course evolves to include personal finance concepts, South-Western's ECONOMICS AND PERSONAL FINANCE is the ideal text to introduce students to the basic concepts of land, labor, and capital.
Unit I: INTRODUCTION TO FREE ENTERPRISE.
1. The Free Enterprise System.
What is Free Enterprise? Principles and Goals of Free Enterprise. Types of Economic Systems.
2. Understand Decision Making.
Economist's Toolkit. Opportunity Cost. The Production Possibilities Curve.
Unit II: FREE MARKETS IN ACTION.
3. Market Demand.
The Law of Demand. Shifts in the Demand Curve. Elasticity of Demand.
4. Market Supply and Free Market Price.
The Law of Supply. Shifts in the Supply Curve. The Free Market Price. The Role of Government in Free Enterprise.
5. Market Structures.
Perfect Competition and Monopoly. Monopolistic Competition and Oligopoly.
Unit III: BUSINESS IN ACTION.
6. Business Organizations.
How Did Business Evolve in America? What is a Proprietorship? What is a Partnership? What is a Corporation?
7. Business Ownership.
Owning Your Own Business. Prepare a Business Plan. Succeed in Business.
Unit IV: MONEY AND BANKING.
8. Money and the Banking System.
What Makes Money Money. The Money Supply. How Banks Create Money.
9. Financial Institutions and Markets.
Individual Banking and Savings. Business Banking and Capital Markets. Labor Movement and Markets.
10. Consumer Credit and Debt.
Effective Buying Strategies. Consumer Loans. Consumer Debt and Bankruptcy.
Unit V: MEASURE ECONOMIC PERFORMANCE.
11. Gross Domestic Product and Growth.
Gross Domestic Product. Real GDP. Business Cycle. Economic Growth.
12. Challenges to Free Enterprise.
Unemployment. Inflation. Taxes.
Unit VI: GOVERNMENT IN THE MACRO ECONOMY.
13. Federal Budget Balancing Act.
What is Fiscal Policy? Fiscal Policy Options. Budget Deficits and the National Debt.
14. Federal Reserve and Monetary Policy.
The Federal Reserve System. What a Federal Reserve Bank Does. Monetary Policy.
Unit VII: GLOBAL TRADE AND INVESTING.
15. International Trade.
Why Nations Trade. Free Trade Matters.
16. Build Assets and Wealth.
Rent or Own a Home. Buy or Lease a Car. Risk Management and Insurance. Purchase, Use, and Dispose of Property.
17. Invest for the Future.
Invest in the Stock Market. Invest in the Bond Market. Other Investment Options. Retirement, Estate Planning, and Philanthropy.