This monograph describes industry at a point in time from the perspective of the faculty in Industrial Education at the University of Minnesota. Section 1 describes the effort to define industry from the perspective of the industrial, business, and economic literature. The remainder of this section is divided into the two components of analysis and synthesis. The analysis of the literature provides the basis of a more articulate definition of industry. Industry is defined as the sector of economic activity that produces and services goods. This analysis section is organized by two major perspectives: understanding industry through definition and understanding industry through classification. The synthesis section discusses the implications for industrial education in terms of proposed curriculum boundaries and structure. Section 2 produces an explicit model of industry using both the definition and classification levels discussed in Section 1. The industry definition is reiterated, and four industry clusters are established: manufacturing, construction, communication, and power. Cluster matrices and accompanying definitions provide explicit industry content boundaries for industrial education. Each matrix contains two major axes. Vertical axes define a process unique to the cluster; horizontal axes describe the industry applications unique to the cluster being presented. (YLB)