E T S Praxis Series

Social Studies: Content Knowledge (0081)

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Topics Covered

Representative descriptions of topics covered in each category are provided below.

Current section: I. United States History

V. Economics

  • Understands Microeconomics: scarcity, choice and opportunity costs, economic systems, factors of production, supply and demand, market efficiency and the role of government (taxes, subsidies, and price controls), and distribution of income, product markets and behavior of firms.
  • Understands Macroeconomics: measures of economic performance, unemployment, inflation, and business cycle, fiscal policy, money and banking, monetary policy, international trade and exchange rates, and economic growth.