[close window]
Virtual Economics

PRINT LESSONS:

Lesson 15 - How Private Efforts Can Improve Environmental Quality
Economics and the Environment: Ecodetectives
The students examine case studies showing how various uses of private property affect environmental quality. They analyze these cases in order to identify conditions under which private property ownership and the profit motive create incentives for environmental protection.
Grade(s): 6-8
Concepts: Benefits, Costs, Incentives, Private property, Profits, Voluntary exchange

Lesson 13: Business Ownership
The International News Journal, Inc.
In this lesson students learn about three types of business ownership -- sole proprietorship, partnership, and corporation -- with the focus on corporations. An activity sheet checks their understanding of th purpose and organization of a corporation.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Corporation, Dividend, Entrepreneur, Natural resources, Human resources, Partnership, Profit, Sole proprietorship, Stockholders

Lesson 13 - Forest Fires: Natural Catastrophes or Monsters We Have Created?
Economics and the Environment: Ecodetectives
The students examine information about the ongoing threat of catastrophic fires facing many forests in the United States, especially national forests in the West. They analyze possible explanations for the threat posed by fires and use economic reasoning to assess the explanations.
Grade(s): 6-8
Concepts: Incentives, Private property ownership, Profits

Unit 5: Lesson 15 - What Results When People Set Goals and Plan to Achieve Their Goals?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read biographies of leaders, inventors, entrepreneurs, or workers to identify the character traits of successful persons. They identify the personal characteristics and human capital the successful persons used to achieve their goals. They compare and contrast them to the personal characteristics and human capital they would like to develop in the future.
Grade(s): 5.6
Concepts: Creativity, Entrepreneur, Goal, Incentives, Motivation, Persistence, Problem solving

Chapter 3: Lesson 17 - How the People of Churchill Came to Be Fond of Polar Bears
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Incentives, Profit

Theme 2: Lesson 3 - Career Choice Making
Financial Fitness for Life: Shaping Up Your Financial Future - Grades 6-8 - Teacher Guide
In this lesson, the students learn that career choices are easier to make if they understand the job market, recognize their own aptitudes, and realize the relationship between marketable skills and workplace success. They will begin by examining statistics projecting the future demand for various occupations. Then they will complete a self-assessment to identify career pathways that match their...
Grade(s): 6-8
Concepts: Human capital, Entrepreneurs, Opportunity cost

Unit 3: Lesson 9 - What Results When People Use Improved Physical Capital Resources?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students learn that using technologies increase production during a business simulation.
Grade(s): 5.6
Concepts: Entrepreneurship, Human capital, Industrial Revolution, Invention, Physical capital, Production, Technology

Lesson 15 - Why Don't People Save?
Learning, Earning and Investing: High School
The students examine risk-oriented behavior, considering why people often engage in behavior that is dangerous or unhealthy. They are introduced to the concept of cost/benefit analysis and asked to apply what they learn to questions about saving. They generate lists of savings goals and categorize those goals as short-term, medium-term and long-term. They learn why long-term goals are more difficu...
Grade(s): 6-8, 9-12
Concepts: Benefits, Costs, Goals, Incentives, Interest, Long-term goal, Medium-term goal, Opportunity cost, Saving, Short-term goal

Theme 3: Lesson 10 - Let Lenders and Borrowers Be
Financial Fitness for Life: Shaping Up Your Financial Future - Grades 6-8 - Teacher Guide
Financial intermediaries perform an important function in our economy. Financial institutions accept deposits from those who want both a safe haven for their funds and income from the use of their funds. These institutions also lend funds to people who want to borrow. Investment bankers and stockbrokers perform a similar function in that they bring together those who wish to sell equities with ...
Grade(s): 6-8
Concepts: Financial intermediaries, Interest, Opportunity cost, Institutional investors, Operating costs, Profit

Lesson 9 - Why Do Oil Reserves Keep Increasing?
Economics and the Environment: Ecodetectives
The students view a visual regarding oil reserves and consumption. They calculate how many years it will take us to run out of oil at a given rate of consumption. The teacher then explains that the numbers on the visual were from 1970 and that in the meanwhile we have not run out of oil. How can this be? The students learn the meaning of provable reserves of petroleum and use economic reasoning to...
Grade(s): 6-8
Concepts: Incentive, Price, Supply

Lesson 14 - How Could We Cut Back on the Garbage We Produce?
Economics and the Environment: Ecodetectives
Students discuss the concept of price and investigate how prices can influence people's decisions to buy groceries and generate garbage, depending on what sort of price system is used. Then students apply what they know about prices in an effort to solve a garbagecollection mystery.
Grade(s): 6-8
Concepts: Choice,Cost,Incentives,Price

Lesson 22: Rough Draft
The International News Journal, Inc.
Students write rough drafts of their articles from outlines. They also discuss and write lead sentences and identify descriptive words to use.
Grade(s): 3-5, 6-8
Concepts: Entrepreneur, Human resources

Lesson 32: Profits and the Annual Report
The International News Journal, Inc.
Once the news journal has been produced and sold, the success or failure of the corporation is determined. Profits or losses are calculated, a financial report is developed, and students write a letter summarizing their involvement in the corporation. The financial statement and letter for the corporation's annual report.
Grade(s): 3-5, 6-8
Concepts: Annual report, Dividend, Profit, Stock

Lesson 15: Board of Directors and Corporate Officers
The International News Journal, Inc.
In this lesson the board of directors meets with the corporate officers to help make production decisions. The board also helps the officers choose the kind of news journal, estimate the cost of producton, determine the price and quantity of news journals to produce, and decide on the number and price of share of stock. Students observe and learn from the decision making, complete and activity s...
Grade(s): 3-5, 6-8
Concepts: Demand, Market, Price, Profit, Stock, Supply

Lesson 14: Organizing The Corporation
The International News Journal, Inc.
In this lesson students (entrepreneurs) decide who the officers of the corporation will be and who will be invited to bo on the board of directors.
Grade(s): 3-5, 6-8
Concepts: Corporation, Entrepreneur

Lesson 12: Resources for The News Journal
The International News Journal, Inc.
In this lesson students begin to make decisions about the kind of new journal they will produce. They also speculate on the necessary resources and their costs. The questions, "How much will people pay for the news journal?" and "How many should be produced?" are raised. Students learn how to use a market survey to get answers to these questions.
Grade(s): 3-5, 6-8
Concepts: Business, Consumer entrepreneur, Market survey, Opportunity cost, Production, Productive resources

Unit 3: Lesson 8 - Can I Use Physical Capital to Produce More Things People Want?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Groups of students form companies to produce five-pointed stars. Workers in the four companies use different combinations of physical capital in production. Students demonstrate ways in which using physical capital improves their ability to produce goods and services. Students learn how improvements in the quality of physical capital affect the quality of production and the good being produced.
Grade(s): 5.6
Concepts: Average cost, Consumer, Cost, Fixed cost, Physical capital, Price, Producer, Production, Profit, Variable cost,

Lesson 29: Reading The News Journal for Information
The International News Journal, Inc.
In this lesson students read the news journal and take notes on important information to highlight when advertising and selling it.
Grade(s): 3-5, 6-8
Concepts: Advertising, Profit

Chapter 3: Lesson 16 - The Big Piggy Bank Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Profit, Saving and Investing

Lesson 1 - The Path Not Taken
Focus: Middle School Economics
Students create a decision/opportunity cost flowchart for Madam C. J. Walker.
Grade(s): 6-8
Concepts: Choices, Alternatives, Entrepreneur, Opportunity Cost

ONLINE LESSONS:

online Transportation: They Say We Had a Revolution (Part 2)
Advancements in transportation have played a key role in the growth of our nation. U.S.government policies have also had a considerable impact on the development of transport as we know it today. In this series of three lessons, the students examine the advancements in automobiles, roads, airlines and airports.
Grade(s): 6-8, 9-12
Concepts: Exports,Gross Domestic Product (GDP),Incentive,Inventors,Markets,Price,Specialization,Technological Changes,Benefit,Costs,Imports,Investment,Profit,Innovation

online Transportation: They Say We Had a Revolution (Part 3)
Advancements in transportation have played a key role in the growth of our nation. U.S. government policies have also had a considerable impact on the development of transport as we know it today. In this series of three lessons, the students examine transportation and its impact on our nation (and vice versa) since the United States declared its independence in 1776. Lesson 1 focuses on improvem...
Grade(s): 6-8, 9-12
Concepts: Competition,Incentive,Inventors,Profit Motive,Role of Government,Technological Changes,Investment,Profit,Property Rights,Innovation

online Henry Ford and the Model T: A Case Study in Productivity (Part 3)
When Henry Ford announced he was going to produce an automobile that would be affordable to the masses, it is doubtful even he realized the far reaching impact such an achievement would have on life in the U.S. and eventually, the world. Ford’s use of mass production strategies to manufacture the Model T revolutionized industrial manufacturing and initiated a new era in personal transportati...
Grade(s): 6-8, 9-12
Concepts: Demand,Economic Growth,Entrepreneurship,Equilibrium Price,Markets,Price,Quantity Demanded,Quantity Supplied,Supply,Determinants of Demand,Determinants of Supply,Productivity,Profit

online I Can Be an Entrepreneur
Learners are given advice on how they can earn extra money by becoming an entrepreneur. After investigating several web pages that offer examples of what other people their age have done to earn money, students identify three money-making ideas for themselves such as: considering what they would enjoy doing, what they do well, what people are willing to buy, the need to set a price that will be pr...
Grade(s): 3-5, 6-8
Concepts: Accounting Profit,Advertising,Business,Entrepreneurship,Goods,Price,Production,Costs,Entrepreneur,Profit,Risk,Services,Accounting Loss

online Henry Ford and the Model T: A Case Study in Productivity (Part 2)
When Henry Ford announced he was going to produce an automobile that would be affordable to the masses, he probably did not realize what a great impact his achievement would have on life in the United States. and, eventually, the world. Ford’s use of mass production strategies to manufacture the Model T revolutionized industrial manufacturing and initiated a new era in personal transportatio...
Grade(s): 6-8, 9-12
Concepts: Factors of Production,Human Resources,Incentive,Production,Productive Resources,Entrepreneur,Human Capital,Labor,Productivity,Resources,Innovation

online Bringing the Market to the Farm
Students learn how community supported agriculture (CSAs) is changing the relationship between the farmer and the consumer.
Grade(s): 6-8
Concepts: Choice,Consumers,Incentive,Markets,Natural Resources,Producers,Profit Motive

online Transportation: They Say We Had a Revolution (Part 1)
Advancements in transportation have played a key role in the growth of our nation. U.S.government policies have also had a considerable impact on the development of transport as we know it today. In this series of three lessons,the students examine transportation and its impact on our nation (and vice versa) since the United States declared its independence in 1776. Lesson 1 focuses on improvement...
Grade(s): 6-8, 9-12
Concepts: Economic Growth,Incentive,Inventors,Markets,Non-price Determinants,Price,Role of Government,Specialization,Supply,Technological Changes,Costs,Determinants of Supply,Gains from Trade,Investment,Standard of Living,Transaction Costs,Innovation

online Baseball Economics 201
As many baseball fans can tell you, the New York Yankees usually have a great season record, make the playoffs and make a run towards to the World Championship each year. The Yankees' success--as well as the success of other big market, high revenue teams--has led many to question whether smaller market teams can compete in Major League Baseball (MLB). In fact, in 2015, the Yankees had revenue...
Grade(s): 6-8, 9-12
Concepts: Factors of Production,Incentive,Marginal Resource Product,Profit Maximization

online All In Business
This is the third in a series of lessons on entrepreneurship. "Entreduction" and "Improving on the Original" help students understand what innovations are, and what it takes to get an idea off the ground. This lesson will take students through the process of calculating risks associated with starting a new business -- the decisions and choices they'd have to make and how to...
Grade(s): 6-8
Concepts: Choice,Decision Making,Entrepreneurship,Incentive

online US History: Inventors & Entrepreneurs
Students will learn the difference between inventors and entrepreneurs. From talking with adults they will learn some of the benefits inventors and entrepreneurs have provided for society in the last 40 years.
Grade(s): 3-5, 6-8
Concepts: Consumers,Entrepreneurship,Incentive,Producers

top ^