- Explain how the financial crisis that began in 2008 has affected a range of national and state policies and how it is having a long-term impact on the lives of citizens.
- Define fiscal and monetary policy, and explain the tools used by the institutions of the national government to shape economic policy.
- Discuss the annual deficit and the total national debt; explain the impact of these two concepts on American life and policies.
- Compare progressive taxes and regressive taxes and explain the taxation systems used in the United States.
- Define entitlement programs, and describe how these programs are related to economic policies.
- Describe the role of the Federal Reserve Bank and its Board of Governors in influencing the economy.
- Discuss the impact that exports and imports have on the American economy and how the World Trade Organization regulates trade.