Click on the link to the Chapter's Wiki page

Chapter 1 "Limits, Alternatives, and Choices": Despite what many of you may think, economics is not the study of money!! It's not about how to get rich, it's not about how to get the things you desire, it's not about starting your own business or becoming a CEO. Economics is about one thing: SCARCITY. But wait, scarcity? Doesn't that mean not enough of something? Well, yes. And therein lies the problem which economics strives to resolve, how to live in a world of scarcity, where resources are limited and the wants of man are infinite.

Chapter 2 "The Market System and the Circular Flow": We know that scarctiy exists. We know that it's a problem. Now, how does economics try to understand and deal with this problem? What systems have been developed to deal with scarcity, decide what goods are produced, who gets them, and how they're produced? Chapter 2 introduces the different economic systems and describes the characteristics of the world's predominant economic system today, the market system.

Chapter 5 "The United States in the Global Economy": Our lives today are inextricably entwined with the nations of the world. Look around you right now, how many of the products you use in your everyday life were made in other countries than your own? Likely, most of them. What determines which products a particular country will produce and why do nations trade?

Unit 1 Econ in the News