Learning Objectives

15.1 Describe the three major economic revolutions that have shaped the contemporary world

15.2 Discuss current and potential effects of automation and artificial intelligence on the labor market

15.3 Compare the economic characteristics of capitalism and communism

15.4 Distinguish between the formal and informal economy

15.5 Describe historical and contemporary trends in U.S. consumption and consumer debt

15.6 Discuss the relationship between globalization and the U.S. economy