By the end of this section, you will be able to:

Discuss why and how economists measure inflation expectations
Analyze the impacts of fiscal and monetary policy on aggregate supply and aggregate demand
Explain the neoclassical Phillips curve, noting its tradeoff between inflation and unemployment
Identify clear distinctions between neoclassical economics and Keynesian economics

By the end of this section, you will be able to:

Calculate the labor force participation rate and the unemployment rate
Explain hidden unemployment and what it means to be in or out of the labor force
Evaluate the collection and interpretation of unemployment data

By the end of this section, you will be able to:

Explain historical patterns of unemployment in the U.S.
Identify trends of unemployment based on demographics
Evaluate global unemployment rates

By the end of this section, you will be able to:

Explain frictional and structural unemployment
Assess relationships between the natural rate of employment and potential real GDP, productivity, and public policy
Identify recent patterns in the natural rate of employment
Propose ways to combat unemployment

By the end of this section, you will be able to:

Analyze cyclical unemployment
Explain the relationship between sticky wages and employment using various economic arguments
Apply supply and demand models to unemployment and wages

By the end of this section, you will be able to:Interpret a circular flow diagramExplain the importance of economic theories and modelsDescribe goods and services markets and labor markets

By the end of this section, you will be able to:Contrast traditional economies, command economies, and market economiesExplain gross domestic product (GDP)Assess the importance and effects of globalization

By the end of this section, you will be able to:Describe microeconomicsDescribe macroeconomicsContrast monetary policy and fiscal policy

By the end of this section, you will be able to:Discuss the importance of studying economicsExplain the relationship between production and division of laborEvaluate the significance of scarcity

By the end of this section, you will be able to:Identify the basic parts of a neuronDescribe how neurons communicate with each otherExplain how drugs act as agonists or antagonists for a given neurotransmitter system

By the end of this section, you will be able to:Explain the basic principles of the theory of evolution by natural selectionDescribe the differences between genotype and phenotypeDiscuss how gene-environment interactions are critical for expression of physical and psychological characteristics

By the end of this section, you will be able to:Describe the difference between the central and peripheral nervous systemsExplain the difference between the somatic and autonomic nervous systemsDifferentiate between the sympathetic and parasympathetic divisions of the autonomic nervous system

By the end of this section, you will be able to:Explain the functions of the spinal cordIdentify the hemispheres and lobes of the brainDescribe the types of techniques available to clinicians and researchers to image or scan the brain

By the end of this section, you will be able to:Identify the major glands of the endocrine systemIdentify the hormones secreted by each glandDescribe each hormone’s role in regulating bodily functions

By the end of this section, you will be able to:Explain the major theories of emotionDescribe the role that limbic structures play in emotional processingUnderstand the ubiquitous nature of producing and recognizing emotional expression