One-semester course. Topics: Microeconomics-economic terminology, principles and concepts; economic systems; supply and demand; prices; market structures; specialization and competition and their effect on production and consumption in a market economy; function of the US economy in a contemporary context; business organizations; labor and unions; sources of capital and decisions affecting financial planning, the use of credit and the purchase of goods and services. Macroeconomics-economic performance; economic challenges; role of government; money and the banking system; the Federal Reserve and monetary policy, financial policy. International economics-comparing economic systems; developing economies; international trade.