- How a country can use scarce resources to maximize consumer satisfaction.
- How a firm's prices and products are determined in a free market system.
- The Theory of Consumer Behavior and the Law of Demand.
- How business costs are used in a firm's production decisions.
- How firms can maximize profits in competitive and imperfectly competitive markets.
- Major factors that cause changes in aggregate income, employment and prices.
- The role of the Federal Reserve system in determining the money supply and interest rates.
- The role of fiscal policy in economic activity.
- The interdependence that exists between the United States and global trading partners.
- The impact of international trade and capital flows on exchange rates, the balance of payments, and national standards of living.
- Study of the principle-agent problem and how contracts may be used to align the interest of both parties.
- The economics of government decision-making and analysis of the institutions that emanate from that process.
- The economics of sustainable development practices.
- The scientific approach to asking an economic question, gathering the relevant data, testing a hypothesis, and explaining the results to less-technically trained parties.
