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Virtual Economics

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Theme 1: Lesson 1 - How to Really Be a Millionaire
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson is designed to get students interested in economics and personal finance. While financial planning may seem to be dull and time-consuming, finding out how to become a millionaire is a topic likely to stir up considerab...
Grade: 9-12

Theme 1: Lesson 2 - The Economic Way of Thinking
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson introduces a process of reasoning that is often referred to as the economic way of thinking. The process is summarized in The Handy Dandy Guide, a six-point primer on economic reasoning. Using the Handy Dandy Guide, th...
Grade: 9-12

Theme 1: Lesson 3 - Decision Making
Financial Fitness for Life: 9-12 - Teacher Guide
The students learn to use a particular model for making decisions. They apply the model in exercises that call for choosing a college and buying a personal computer. The model focuses on explicit identification of problems, altern...
Grade: 9-12

Theme 2: Lesson 4 - Looking for a Job
Financial Fitness for Life: 9-12 - Teacher Guide
Getting a job is fundamental to achieving economic success. Most people begin their work lives working for others. While obtaining a job can be a challenge, there are widely accepted practices in business and government that make ...
Grade: 9-12

Theme 2: Lesson 5 - Making Your Own Job
Financial Fitness for Life: 9-12 - Teacher Guide
Not everyone works for someone else. Some people make jobs for themselves. They are called entrepreneurs. This lesson focuses on entrepreneurs. It identifies characteristics of entrepreneurs, compares advantages and disadvantages ...
Grade: 9-12

Theme 2: Lesson 6 - Why Some Jobs Pay More than Others
Financial Fitness for Life: 9-12 - Teacher Guide
Why do some people earn more income than others? This lesson explores that question. It begins by clarifying what income is. Then it focuses on the relationship between human capital and income. It culminates with an activity lin...
Grade: 9-12

Theme 2: Lesson 7 - Uncle Sam Takes a Bite
Financial Fitness for Life: 9-12 - Teacher Guide
Young people are sometimes surprised to learn that the pay they earn is not the same as the pay they take home. This lesson introduces students to the concepts of gross pay, net pay, marginal tax rate, income taxation, tax plannin...
Grade: 9-12

Theme 3: Lesson 8 - Managing Your Money
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson introduces some basics of money management. By means of a radio call-in show script, students learn about setting up a family budget and distinguishing between income and net worth. To practice making budgeting decisio...
Grade: 9-12

Theme 3: Lesson 9 - Banking Basics
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson provides an overview of four types of financial institutions. It invites the students to investigate services available from financial institutions in their own community. As an example of a common financial service, t...
Grade: 9-12

Theme 3: Lesson 10 - Managing Risk
Financial Fitness for Life: 9-12 - Teacher Guide
As people begin to earn an income and acquire assets, they begin to think about how to protect what they have against the risk of financial loss. Toward this end, many people buy insurance. This lesson explains how insurance works...
Grade: 9-12

Theme 4: Lesson 11 - What Is Credit?
Financial Fitness for Life: 9-12 - Teacher Guide
Decisions about credit loom large in the lives of adults as they consider buying big-ticket items- a home or a new car, for example. Young people often use credit, too-using credit cards to buy goods and services, for example, or ...
Grade: 9-12

Theme 4: Lesson 12 - Making Credit Choices
Financial Fitness for Life: 9-12 - Teacher Guide
In deciding whether to use credit, individuals must consider many factors. The considerations are often situation-specific and they are often subject to different interpretations by different prospective borrowers. The underlying ...
Grade: 9-12

Theme 4: Lesson 13 - Applying for Credit
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson explains what a credit report is and how to read one. To learn about credit reports, the students play the role of loan officers, reviewing excerpts from the credit reports and credit scores of loan applicants. They ev...
Grade: 9-12

Theme 4: Lesson 14 - All About Interest
Financial Fitness for Life: 9-12 - Teacher Guide
To compare the cost of different loans, students must understand finance charges and interest rates. In this lesson, the students learn how to compute finance charges, how to differentiate between add-on and annual percentage rate...
Grade: 9-12

Theme 4: Lesson 15 - Shopping for a Credit Card
Financial Fitness for Life: 9-12 - Teacher Guide
In 2007, nearly three-fourths of all U.S. families had at least one credit card. According to the Federal Reserve, 46 percent of families carried a balance on their cards. The median balance carried was $3,000. Americans are obvio...
Grade: 9-12

Theme 4: Lesson 16 - Shopping for a Mortgage
Financial Fitness for Life: 9-12 - Teacher Guide
In this lesson, the students use a computer loan calculator to determine the monthly payment on different mortgage loans. Understanding how to use computer loan calculators is very important for mortgage calculations. There are ma...
Grade: 9-12

Theme 4: Lesson 17 - Shopping for an Auto Loan
Financial Fitness for Life: 9-12 - Teacher Guide
Wise consumers shop for credit just as they might shop for a car or a computer. In this lesson, to begin learning the skills needed in shopping for credit, the students fill out a credit-comparison chart for a hypothetical auto lo...
Grade: 9-12

Theme 4: Lesson 18 - Consumer Credit Protection
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson provides an overview of legal protection for those who use consumer credit. It stresses federal laws designed to protect consumers in the case of certain problems arising from credit transactions. The applicable laws i...
Grade: 9-12

Theme 4: Lesson 19 - Scams and Schemes
Financial Fitness for Life: 9-12 - Teacher Guide
While most credit transactions are completely legal, there are some that are not. This lesson introduces scams and schemes, including identify theft, loan scams, and credit-repair loans. The lesson also identifies legal but high-c...
Grade: 9-12

Theme 5: Lesson 20 - What's the Cost of Spending and Saving?
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson examines the benefits and opportunity cost of spending and saving. The students learn how compound interest makes savings grow. Compounding provides an incentive to save and invest early. The benefits of saving and inv...
Grade: 9-12

Theme 5: Lesson 21 - There Is No Free Lunch in Investing
Financial Fitness for Life: 9-12 - Teacher Guide
Risk is inherent in all investments. Some risks are ones investors cannot control. Other risks can be managed. The key is to develop a risk-reward ratio with which you are comfortable. The greater the risk, the higher the potentia...
Grade: 9-12

Theme 5: Lesson 22 - Internet Tools and Investing
Financial Fitness for Life: 9-12 - Teacher Guide
This lesson provides an overview of basic investment options; it also introduces certain investment strategies. The lesson culminates with an activity that can be used to learn or review key economic and financial terms.
Grade: 9-12

Theme 1: Lesson 1 - A Good Day for Money
Financial Fitness for Life: K-2 - Teacher Guide
The students listen to a short story introducing them to Penny and Nicholas, the "Money Kids." They discuss ways in which people receive money - through earning income or receiving gifts. They are introduced to the concept of huma...
Grade: K-2

Theme 1: Lesson 2 - Working for Income
Financial Fitness for Life: K-2 - Teacher Guide
The students discuss goods and services that satisfy people's wants, and they construct a spyglass to help them identify goods and services at school. They also construct Busy Town, a model business community. Using a puzzle, they...
Grade: K-2

Theme 1: Lesson 3 - What Is Money?
Financial Fitness for Life: K-2 - Teacher Guide
This lesson focuses on two types of money: paper money and coins. The students identify money and its value (its buying power) while participating in a money-matching activity. They estimate the number of coins in a can; then they...
Grade: K-2

Theme 2: Lesson 4 - Money Lets Us Choose
Financial Fitness for Life: K-2 - Teacher Guide
The students listen to a short story that introduces difficulties involved in making choices. Using a grid, the students discuss costs and benefits as they make choices. (The class uses an apron as a prop in making decisions, here...
Grade: K-2

Theme 2: Lesson 5 - Why We Save
Financial Fitness for Life: K-2 - Teacher Guide
The students create a banner depicting choices they make and the opportunity costs they incur. They learn about saving money in order to satisfy a want. They make and decorate a special vest. The vest serves as a prop which they u...
Grade: K-2

Theme 2: Lesson 6 - How We Save
Financial Fitness for Life: K-2 - Teacher Guide
The class hears a story about Nicholas's family as it copes with an unexpected expense. In an activity designed to simulate an experience of scarcity, the students try to fit themselves into a space that is too small to accommodat...
Grade: K-2

Theme 2: Lesson 7 - Saving Makes Us Wait
Financial Fitness for Life: K-2 - Teacher Guide
In a simulation activity, the students set a goal and save money to achieve that goal. They discuss the costs and benefits of saving by completing a decision grid. Using a magic mirror, they gaze into the future and imagine things...
Grade: K-2

Theme 3: Lesson 8 - We Are Consumers
Financial Fitness for Life: K-2 - Teacher Guide
The students discover that they are consumers. As they fill their pockets with pictures of things they want, they learn that consumers want both goods and services. As they try to help Nicholas choose a pet, and reflect on his dec...
Grade: K-2

Theme 3: Lesson 9 - We Decide to Spend
Financial Fitness for Life: K-2 - Teacher Guide
The students create want webs (configurations of illustrations and notations) for a hamster and then for themselves. They simulate the experience of spending money in exchange for goods and services when they use dimes to become c...
Grade: K-2

Theme 3: Lesson 10 - We Plan for Spending
Financial Fitness for Life: K-2 - Teacher Guide
The students explore planned and unplanned spending. They construct traffic lights and use them as props in describing consumers' spending decisions as planned or unplanned. They discuss the costs and benefits of spending decision...
Grade: K-2

Theme 3: Lesson 11 - Ads Make Us Spend
Financial Fitness for Life: K-2 - Teacher Guide
The students explore the role of advertising in the marketplace. They examine various forms of advertising and discover why companies advertise their products. They watch television commercials in order to answer questions about p...
Grade: K-2

Theme 4: Lesson 12 - We Are Borrowers
Financial Fitness for Life: K-2 - Teacher Guide
The students examine opportunities and responsibilities associated with borrowing. They experience an opportunity to borrow time for an extended activity and repay the borrowed time the next day. They analyze the borrowing decisio...
Grade: K-2

Theme 4: Lesson 13 - We Are Lenders
Financial Fitness for Life: K-2 - Teacher Guide
This lesson focuses on the relationship between borrowers and lenders, from the perspective of the lender. Using the Pocket Decision Apron as a prop, the students explore the costs and benefits of decisions about lending. In a sim...
Grade: K-2

Theme 4: Lesson 14 - We Owe Money
Financial Fitness for Life: K-2 - Teacher Guide
The students explore uses of credit. They assume the role of the Wild Wanter and determine the amount of credit needed to satisfy their wants when income is limited. They construct a Pay Cube to show some of the ways consumers pay...
Grade: K-2

Theme 5: Lesson 15 - We Make a Budget
Financial Fitness for Life: K-2 - Teacher Guide
The lesson introduces budgets and budgeting. The students participate in an activity in which they balance a budget by manipulating income and expense cards.
Grade: K-2

Theme 5: Lesson 16 - We Manage Our Money
Financial Fitness for Life: K-2 - Teacher Guide
Participating in a game, the students demonstrate their knowledge of basic money management concepts, including income, spending, saving, and credit. They review these concepts and write about what they have learned, using a graph...
Grade: K-2

Theme 1: Lesson 1 - Earning Income
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students play a guessing game, using clues to identify various occupations. They consider the education, skills, and talent required for those occupations, and, in doing so, analyze the connection between human capital and wag...
Grade: 3-5

Theme 1: Lesson 2 - Urban Mouse and Rural Mouse
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students use an index of businesses for a fictional community to learn why people create businesses to provide goods and services in their communities. They read an adaptation of the fable 'City Mouse, Country Mouse,' here tit...
Grade: 3-5

Theme 1: Lesson 3 - People Pay Taxes
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students participate in an activity designed to help them understand when and why people pay taxes. They learn about income and the differences between gross and net income. They learn that we pay taxes on income and that gove...
Grade: 3-5

Theme 2: Lesson 4 - The Grasshopper and the Ant
Financial Fitness for Life: Grades 3-5 - Teacher Guide
In reading and discussing an adaptation of Aesop's fable 'The Grasshopper and the Ant,' the students learn about the trade-off between satisfying wants today and planning for the future. They use the fable to examine their own beh...
Grade: 3-5

Theme 2: Lesson 5 - Saving Starts with Wanting More
Financial Fitness for Life: Grades 3-5 - Teacher Guide
This lesson provides activities designed to help students think clearly about decisions related to saving money. The students set a goal, determine a strategy for saving, and decide how they will save to achieve their goals. They ...
Grade: 3-5

Theme 3: Lesson 6 - Consumers Want More Goods and Services
Financial Fitness for Life: Grades 3-5 - Teacher Guide
This lesson focuses on spending decisions, particularly the decisions that students make as consumers. The activities establish a rationale for the study of financial decision making. The lesson is introduced on one day and comple...
Grade: 3-5

Theme 3: Lesson 7 - To Choose Is to Refuse
Financial Fitness for Life: Grades 3-5 - Teacher Guide
By participating in a readers' theater activity, the students learn about opportunity cost as a key factor in decision making. They use the concept of opportunity cost in a related simulation activity, deciding which wants to sati...
Grade: 3-5

Theme 3: Lesson 8 - How Would You Like to Pay?
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students are introduced to various methods of payment, such as cash, check, debit and credit cards, and electronic or online payments. They learn about the advantages and disadvantages of each method of payment. They also prac...
Grade: 3-5

Theme 3: Lesson 9 - More About Methods of Payment
Financial Fitness for Life: Grades 3-5 - Teacher Guide
This lesson, which builds on Lesson 8, may be especially appropriate for older or advanced students. It engages students in a role-playing activity designed to develop their understanding of various methods of payment. It also cal...
Grade: 3-5

Theme 3: Lesson 10 - Why Do I Want All This Stuff?
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students learn about types of advertising appeals, such as bandwagon, celebrity endorsement, and authority endorsement. They analyze ads to identify target audiences, the types of appeal used, and the facts and opinions includ...
Grade: 3-5

Theme 3: Lesson 11 - This One or That One?
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students learn about comparison shopping, considering prices and other factors that shoppers might use in making comparisons.
Grade: 3-5

Theme 4: Lesson 12 - Credit Is Based on Trust
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students solve a puzzle to learn about trustworthiness. They participate in a readers' theater activity and analyze the connection between trust and creditworthiness.
Grade: 3-5

Theme 4: Lesson 13 - Buddy, Can You Spare a Dime?
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students decide how they would respond to various lending situations. In assessing these situations, they learn about what to consider in decisions about lending and borrowing. They analyze, from a lender's point of view, what...
Grade: 3-5

Theme 4: Lesson 14 - Managing Money
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students examine cases in which income is limited and people must therefore make choices about how to manage their money.
Grade: 3-5

Theme 4: Lesson 15 - It's a Balancing Act
Financial Fitness for Life: Grades 3-5 - Teacher Guide
The students use manipulatives to learn about income, expenses (fixed and variable), and budgeting.
Grade: 3-5

Theme 1: Lesson 1 - Resources Are Scarce
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students examine hypothetical companies that produce various goods made from wood. They discover that some companies do better than others at producing goods that people want to buy. The companies that produce goods that peopl...
Grade: 6-8

Theme 1: Lesson 2 - Making Decisions
Financial Fitness for Life: Grades 6-8 - Teacher Guide
This lesson builds on Lesson 1, introducing students to points 3 and 4 of The Economic Way of Thinking: People must make choices, and Every choice involves a cost. In activities related to these points, the students practice using...
Grade: 6-8

Theme 1: Lesson 3 - The Economic Way of Thinking
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students are introduced to the final two principles of the economic way of thinking: People's choices have consequences, and People respond to incentives.
Grade: 6-8

Theme 2: Lesson 4 - Why Stay in School?
Financial Fitness for Life: Grades 6-8 - Teacher Guide
Against a background of information about the relationship between educational attainment, employment, and income levels, the students weigh decisions about education in light of costs and benefits.
Grade: 6-8

Theme 2: Lesson 5 - Choosing a Career
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The lesson focuses on a deliberate approach to making career choices. The students examine statistics projecting future demand for workers in various occupations. They complete a self-assessment to identify career pathways that ma...
Grade: 6-8

Theme 2: Lesson 6 - Productivity
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students examine ways to develop their human capital. They discover that they make themselves more productive by developing their human capital and by using capital resources, the tools of their trade. As they become more prod...
Grade: 6-8

Theme 3: Lesson 7 - Managing Cash
Financial Fitness for Life: Grades 6-8 - Teacher Guide
Although most middle school and junior high students do not hold full-time jobs, many of them have money to spend, often from an allowance or a part-time job. As a group, they have discretionary income that totals, by some estimat...
Grade: 6-8

Theme 3: Lesson 8 - Choosing and Using a Checking Account
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students learn the fundamentals of maintaining a checking account. They examine electronic banking methods, the writing of checks, and using a check register. They examine the features and costs of checking accounts, in prepar...
Grade: 6-8

Theme 3: Lesson 9 - What Taxes Affect You?
Financial Fitness for Life: Grades 6-8 - Teacher Guide
This lesson focuses on taxes and the uses governments make of tax revenue. Tax revenue pays for public goods and services: roads, schools, court houses, police and fire protection, parks, national defense, and so on. Taxes are als...
Grade: 6-8

Theme 4: Lesson 10 - Why Save?
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students learn about saving and investing, and they consider the importance of setting short-term, medium-term, and long-term savings goals. They use math skills to solve problems and they play a game designed to emphasize the...
Grade: 6-8

Theme 4: Lesson 11 - Let Lenders and Borrowers Be
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students learn how financial intermediaries foster exchanges between savers and borrowers. They learn how savers and borrowers benefit from these exchanges; they also learn about the opportunity costs of saving and borrowing.
Grade: 6-8

Theme 4: Lesson 12 - Types of Savings Plans and Investments
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students learn about various types of government-insured savings instruments, noting the advantages and disadvantages of each. They learn that savings and investment instruments carry various types of risk, including inflation...
Grade: 6-8

Theme 4: Lesson 13 - Who Pays and Who Receives?
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students discover that three factors affect how money grows in savings accounts: the amount deposited, the interest rate, and the length of time the money is held on deposit. Students calculate interest and formulate a general...
Grade: 6-8

Theme 4: Lesson 14 - Stocks and Mutual Funds
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students learn about stocks: how stocks are issued, different levels of risk, and differences in possible returns. In studying risk, the students also learn about mutual funds and diversification.
Grade: 6-8

Theme 5: Lesson 15 - Cash or Credit?
Financial Fitness for Life: Grades 6-8 - Teacher Guide
Most students are aware of the variety of payment options available to consumers. Cash, checks, debit cards, and credit cards are often used by their parents; however, the students probably do not understand the implications of ea...
Grade: 6-8

Theme 5: Lesson 16 - Establishing Credit
Financial Fitness for Life: Grades 6-8 - Teacher Guide
Lenders are in business to grant loans to individuals and businesses. However, the applicant's ability to repay a loan can mean the difference between profit and loss for the lender. To reduce risk, the lender assesses the applica...
Grade: 6-8

Theme 5: Lesson 17 - Comparison Shopping
Financial Fitness for Life: Grades 6-8 - Teacher Guide
The students identify costs and benefits of comparison shopping. They learn about a seven step approach that can help consumers make well-informed choices, and they practice using it. They also learn to avoid certain mistakes that...
Grade: 6-8

Lesson 1 - Goods and Services - The Things We Want
Playful Economics
Lesson 1 teaches students that goods and services are things that people want and the differences between the two.
Grade: 6-8

Lesson 2 - Production - How We Get the Goods and Services We Want
Playful Economics
Students learn in lesson 2 that to get goods and services, people must engage in production. They learn that producers use productive resources to provide goods and services, and the difference between natural resources, human res...
Grade: 6-8

Lesson 3 - Scarcity - We Can't Have Everything We Want
Playful Economics
Lesson 3 teaches students about scarcity in relation to wants and price.
Grade: 6-8

Lesson 4 - Opportunity Cost (Consumers) - The Best Alternative Not Chosen
Playful Economics
In lesson 4, students learn what opportunity cost means and that there is an opportunity cost to every consumer choice. They then learn to identify the opportunity cost to every consumer choice.
Grade: 6-8

Lesson 5 - Opportunity Cost (Producers) - Producers Also Have To Choose
Playful Economics
Lesson 5's objective is to teach that producers, as well as consumers, have to make choices about how to use scarce resources, and that these choices also have opportunity costs.
Grade: 6-8

Lesson 6 - Trade - Getting the Things We Want
Playful Economics
In lesson 6 students learn that people trade to obtain most of the goods and services they want, and that in order to trade, one must produce a good or service that other people want. They also learn that both people benefit from ...
Grade: 6-8

Lesson 7 - Money - Making Trade Easier
Playful Economics
The objective of lesson 7 is to teach that the use of money as a medium of exchange is more efficient than barter because money reduces the cost of trade.
Grade: 6-8

Lesson 8 - Specialization and Division of Labor - Making Production More Efficient
Playful Economics
In lesson 8, students learn that specialization and division of labor increase productivity, resulting in higher incomes. They also learn about some of the disadvantages of specialization and division of labor.
Grade: 6-8

Lesson 9 - Capital - Making Work More Productive
Playful Economics
Lesson 9 teaches students how using physical capital and technological improvements in capital increase productiviity.
Grade: 6-8

Lesson 10 - Saving and Investing - Planning for the Future
Playful Economics
Lesson 10 teaches students that individuals either save or consume after-tax income and that saving has an opportunity cost - giving up current consumption. Students also learn consuming has an opportunity cost - giving up greater...
Grade: 6-8

Lesson 11 - Market Price I - Changes in Supply
Playful Economics
In lesson 11 students learn about the Law of Supply - that producers will supply more at high prices than at low prices and that they will supply less at low prices than at high prices. They also learn that an increase in supply o...
Grade: 6-8

Lesson 12 - Market Price II - Changes in Supply and Demand
Playful Economics
Students learn in lesson 12 how changes in demand affect market price, what events would cause an increase or decrease in demand, and that the market price serves as a guide to help producers determine what to produce.
Grade: 6-8

Lesson 13 - Costs and Profits - How Much Did We Really Make?
Playful Economics
In lesson 13 students learn that costs must be subtracted from revenues to determine profit and that certain events cause costs to change, which can affect profits.
Grade: 6-8

Lesson 14 - Inflation - When All Prices Rise
Playful Economics
Lesson 14 teaches students that that inflation is an increase in the general price level of goods and services caused by the supply of money increasing relative to the supply of goods and services. Students also learn that an incr...
Grade: 6-8

Lesson 15 - GDP - Measuring What We Produce
Playful Economics
In lesson 15 students learn the meaning of Gross Domestic Product and that real GDP, not money GDP, is the more significant measure of GDP.
Grade: 6-8

Unit 1 - Economic Survival: Resources, Production, and Scarcity
Trading Around the World
As you study the history and geography of different countries of the world, you will have the opportunity to learn about the subject of economics. This is an important subject that affects you in many ways. It also affects people ...
Grade: 6-8, 9-12

Unit 2 - Working and Living Together: The Importance of Trade
Trading Around the World
Do you remember studying about pioneer life in the United States? Life on the frontier was certainly not easy. Often it was a struggle merely to survive. One thing is for sure&mdashthe pioneers couldn't buy things at the local dep...
Grade: 6-8, 9-12

Unit 3 - Gross Domestic Product: Measuring a Country's Income
Trading Around the World
How do you measure a person's income? Typically, we measure how much money a person has. But money isn't really the most basic way to measure income since a person's money can be worthless unless there is something to buy. For exa...
Grade: 6-8, 9-12

Unit 4 - Productivity: The Key to Increasing a Country's Income
Trading Around the World
In Unit 3, we learned that some countries have a much higher standard of living (per capita GDP) than others. Why is this true? Why do the citizens of some countries enjoy the use of many goods and services, while citizens in othe...
Grade: 6-8, 9-12

Unit 5 - Economic Systems: How A Country Organizes Its Economy
Trading Around the World
We have learned that all the different countries of the world specialize in the kinds of goods and services they produce. For example, Argentina specializes in producing beef, Israel in producing oranges, and Japan in producing au...
Grade: 6-8, 9-12

Lesson 1 - A Comparison of the Panic of 1907 to the Crisis That Began in 2007
Teaching Financial Crises
This lesson provides an overview of the similarities and differences between the Panic of 1907 and the financial crisis that began in 2007. Students will assess the financial systems, economic events, and government responses in b...
Grade: 9-12

Lesson 2 - How Economic Performance From 2007-2009 Compares to Other Periods in U.S. History
Teaching Financial Crises
The students examine information and data about six recessions in the United States. In small groups, they use the information to make short presentations about the recessions, highlighting data on economic performance during the ...
Grade: 9-12

Lesson 3 - Manias, Bubbles, and Panics in World History
Teaching Financial Crises
This lesson addresses the psychology surrounding speculative manias, often referred to as bubbles. The class will be introduced to some of the theories behind bubbles and apply those concepts to the recent housing bubble. Students...
Grade: 9-12

Lesson 4 - The Japan Comparison
Teaching Financial Crises
In this lesson, students play the role of economic advisors to the U.S. president. They learn about Japan's "Lost Decade," and then they compare economic data and policies to analyze the potential future of the U.S. economy.
Grade: 9-12

Lesson 5 - Monetary Policy in the Recent Financial Crisis
Teaching Financial Crises
Actions are taken by the Board of Governors of the Federal Reserve System (the Fed) to create a stable macroeconomy. Part 1 of the lesson places the student in the role of an economic analyst diagnosing the economy by viewing 2007...
Grade: 9-12

Lesson 6 - The Role of Housing in the Financial Crisis of 2007-2009
Teaching Financial Crises
Students begin by examining data on the rise and fall of home prices and use supply and demand to analyze potential causes of the price changes. Then students learn about changes in the mortgage industry and identify the incentive...
Grade: 9-12

Lesson 7 - The Instruments and Institutions of Modern Financial Markets
Teaching Financial Crises
Students work in small groups to make flash cards to display terms commonly used in modern financial markets. Each group of students begins by learning one group of terms. The students pass their flash cards from group to group un...
Grade: 9-12

Lesson 8 - Understanding Financial Markets, 2007-2009
Teaching Financial Crises
This lesson pulls together the events in financial markets from 2007 to 2009 by examining the persons and financial institutions that played key roles in the crisis, including why it occurred, who was affected, and the aftermath. ...
Grade: 9-12

Lesson 1 - How Do Constitutions Shape Economic Systems?
Focus: Understanding Economics in Civics and Government
In the first part of the lesson, the students examine the characteristics of a market economy and the economic provisions of the U.S. Constitution. Then they complete a grid which shows how the U.S Constitution establishes and sup...
Grade: 9-12

Lesson 2 - The Relationship Between Economic Freedom and Political Freedom
Focus: Understanding Economics in Civics and Government
To begin the lesson, students brainstorm examples of political and economic freedom. Then they examine several quotations describing the theoretical relationship between the two kinds of freedom, and they are asked if they believe...
Grade: 9-12

Lesson 3 - Voters and Elections
Focus: Understanding Economics in Civics and Government
Students identify costs associated with voting. Then they make predictions about who might be more likely to vote based on their understanding of opportunity costs.
Grade: 9-12

Lesson 4 - What Are the Economic Functions of Government?
Focus: Understanding Economics in Civics and Government
The teacher introduces six economic functions of government in a brief lecture. In a guided practice activity, the students classify newspaper headlines according to the six functions. A brief reading introduces "liberal" and "con...
Grade: 9-12

Lesson 5 - Government Spending
Focus: Understanding Economics in Civics and Government
Through cooperative learning, the students identify patterns and trends in spending by government at the federal, state, and local levels. They analyze potential problems posed by the growth in federal mandatory spending.
Grade: 9-12

Lesson 6 - Can Election Futures Markets Be More Accurate Than Polls?
Focus: Understanding Economics in Civics and Government
The students examine results from opinion polls conducted near the end of the 2004 presidential campaign. They compare results from several national polls to those of the Iowa Electronic Markets (hereafter, the IEM), an online fut...
Grade: 9-12

Lesson 7 - Taxes Change Behavior
Focus: Understanding Economics in Civics and Government
The students review the economic functions of government, noting that taxes are necessary to pay for government activities. Then they consider how the government can influence behavior through taxation, by taxing sources of pollut...
Grade: 9-12

Lesson 8 - Economic Misery and Presidential Elections
Focus: Understanding Economics in Civics and Government
The students examine economic data in order to predict the results of presidential elections.
Grade: 9-12

Lesson 9 - The Market Goes to Court: Key Economic Cases and the United States Supreme Court
Focus: Understanding Economics in Civics and Government
The students participate in a reader's theater activity. This activity conveys information about the role of the Supreme Court, and it introduces four types of economic cases heard by the Court. Then the students read four case st...
Grade: 9-12

Lesson 10 - An Economic Analysis of Health Care Policy
Focus: Understanding Economics in Civics and Government
The students discuss the strengths and weaknesses of health care in the United States. As "members" of the Surgeon General's Task Force on the Economics of Health Care Policies, they consider how the laws of supply and demand can ...
Grade: 9-12

Lesson 11 - How Should Governments Structure the Tax System?
Focus: Understanding Economics in Civics and Government
In a group activity, the students decide on a method of taxation for a hypothetical country. After they have developed a tax system, they discuss their reasons for designing the system they have created. They learn whether their s...
Grade: 9-12

Lesson 12 - Federalism
Focus: Understanding Economics in Civics and Government
Using a role-play activity about NCLB, students investigate the concept of federalism and the use of incentives by Congress to get states to follow national government priorities.
Grade: 9-12

Lesson 13 - Government Failure: Using Public Choice Theory to Analyze Political Decisions
Focus: Understanding Economics in Civics and Government
The students are introduced to the basics of public choice analysis by reference to two examples of government failure. They participate in mock elections and analyze the impact of special interest groups on legislators. They exam...
Grade: 9-12

Lesson 14 - Economic Sanctions and U.S. Foreign Policy
Focus: Understanding Economics in Civics and Government
The students analyze cases in which the United States has imposed economic sanctions on other countries. They examine the characteristics of successful economic sanctions and apply their knowledge to predict the likelihood of the ...
Grade: 9-12

Lesson 15 - The Judiciary and Eminent Domain: the Case of Kelo v. City of New London
Focus: Understanding Economics in Civics and Government
The students learn about the importance of private property rights and the enforcement of those rights. They are introduced to the concept of eminent domain and its grounding in the Fifth Amendment to the U.S. Constitution. To exp...
Grade: 9-12

Lesson 16 - Economic Freedom in China and India
Focus: Understanding Economics in Civics and Government
The students examine a table and two graphs to identify trends in political freedom worldwide, particularly in China and India. They are introduced to the concept of economic freedom, and they discuss examples of the concept. They...
Grade: 9-12

Lesson 17 - Making Trade-Offs in Policy Decisions: The Patriot Act
Focus: Understanding Economics in Civics and Government
Using a case study approach, the students weigh certain trade-offs associated with the Patriot Act. The class decides whether the trade-off of civil liberties for improved security is a good one. In addition, students consider how...
Grade: 9-12

Lesson 18 - Economic Indicators for Informed Citizens
Focus: Understanding Economics in Civics and Government
This lesson introduces students to three basic economic indicators: real GDP, the inflation rate, and the unemployment rate. The students work in small groups to develop an economic forecast, using the three basic economic indicat...
Grade: 9-12

Lesson 19 - Immigration
Focus: Understanding Economics in Civics and Government
The students analyze legal and illegal immigration, creating concept maps to identify the incentives and disincentives that may influence prospective immigrants as they make their decisions.
Grade: 9-12

Lesson 20 - Economic Freedom and Rights
Focus: Understanding Economics in Civics and Government
To get started, the students take note of the economic freedoms and rights they enjoy in the United States today. Then they examine how political and personal rights established by the Constitution may either reinforce or conflict...
Grade: 9-12

Chapter 1 - Getting Started
Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School
This chapter explains how to use this publication.
Grade: 9-12

Chapter 2 - Deciding What and How Many to Produce
Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School
This chapter has two major goals. The first goal is to decide what product(s) to produce and sell. The second goal is to estimate how many to produce.
Grade: 9-12

Chapter 3 - Producing the Product
Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School
There are three major goals in this chapter. The first goal is to organize the business. The second goal is to determine how to finance the business. The final goal in this chapter is to actually produce the product.
Grade: 9-12

Chapter 4 - Marketing and Selling the Product
Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School
This chapter has two major goals. The first goal deals with marketing the product. The second and closely related goal concerns the actual selling of the product. Both of these goals are an important part of any classroom business...
Grade: 9-12

Chapter 5 - Closing the Business
Economics & Entrepreneurship: Operating a Classroom Business in the Elementary and Middle School
In this chapter, the students close their business. The first goal of the chapter deals with the concept of profit. A second goal of this chapter is to give teachers suggestions and ideas for making improvements in future business...
Grade: 9-12

Lesson 1 - Does Science Need Ethics?
Teaching the Ethical Foundations of Economics
In this lesson the students see how biases may enter into the discovery of facts. Then they follow the progress of an economic researcher as she carries out a positive economic analysis.Finally, they come to appreciate that ethica...
Grade: 9-12

Lesson 2 - What Is the Difference Between Self-Interest and Greed?
Teaching the Ethical Foundations of Economics
In this lesson the students first explore the concepts of greed and self-interest through a class discussion. In pairs they play a famous game in economics and ethics: the Ultimatum Game. One of the pair is a Proposer who suggests...
Grade: 9-12

Lesson 3 - Do Markets Need Ethical Standards?
Teaching the Ethical Foundations of Economics
The students participate in an exercise that demonstrates the motives of self-interest, duty and character in economic transactions. Playing the roles of doctors and patients, the students experience how asymmetric information can...
Grade: 9-12

Lesson 4 - Do Markets Make Us More Moral?
Teaching the Ethical Foundations of Economics
In this lesson the students discuss situations that demonstrate how markets reward moral behavior. Then they apply an economic analysis to discrimination on the basis of race, gender and religion. In doing so, they discuss how peo...
Grade: 9-12

Lesson 5 - What Are the Moral Limits of Markets?
Teaching the Ethical Foundations of Economics
The lesson begins with the students brainstorming ways to allocate a scarce good within a small group. Then they evaluate market and nonmarket mechanisms for allocating goods and services. This leads to a discussion of the moral l...
Grade: 9-12

Lesson 6 - What Should We Do About Sweatshops?
Teaching the Ethical Foundations of Economics
This lesson introduces the students to three main ways of analyzing moral problems. The students apply these approaches to evaluate sweatshops. First, the students discuss the elements that make up a sweatshop. Then they read an e...
Grade: 9-12

Lesson 7 - Should We Allow a Market For Transplant Organs?
Teaching the Ethical Foundations of Economics
The students learn that there is a shortage of transplant organs in the United States. They explore ways to reduce the shortage, particularly by increasing the supply. First the students use supply and demand to analyze a market f...
Grade: 9-12

Lesson 8 - Is Efficiency an Ethical Concept?
Teaching the Ethical Foundations of Economics
In this lesson the students discover how goals and value judgments affect decisions about efficiency and welfare. They also learn how economists measure efficiency. First, the students discuss the concepts of positive economics, n...
Grade: 9-12

Lesson 9 - Do Businesses Have A Social Responsibility?
Teaching the Ethical Foundations of Economics
The students read two viewpoints on the social responsibility of business: Milton Friedman, a Nobel laureate in economics, argues that businesses best fulfill their social responsibilities to society by focusing on increased profi...
Grade: 9-12

Lesson 10 - What Is Economic Justice?
Teaching the Ethical Foundations of Economics
In this lesson the students explore basic ideas of justice through a class discussion. Then they play the Veil of Ignorance game. In the first round of the game, groups of students get Role Cards and vote for a slate of economic p...
Grade: 9-12

Lesson 1: The New World Was an Old World
Focus: Understanding Economics in U.S. History
This lesson introduces the Guide to Economic Reasoning. Students use the Guide to analyze certain practices of three Indian tribes at the time Europeans first encountered them. Students also use the Guide to solve two historic mys...
Grade: 9-12

Lesson 2: Property Rights Among North American Indians
Focus: Understanding Economics in U.S. History
In their exploration of property rights among North American Indians, the students discuss the tragedy of the commons. They read a case study that explains how Indians developed ownership rights regarding horses. Then they examine...
Grade: 9-12

Lesson 3: Why Do Economies Grow?
Focus: Understanding Economics in U.S. History
The students examine information about former colonies and discuss factors associated with economic growth. They participate in a simulation activity, working in groups to recommend economic development policies for a newly discov...
Grade: 9-12

Lesson 4: Understanding the Colonial Economy in a Global Context
Focus: Understanding Economics in U.S. History
The students discuss a mystery regarding economic growth in the American colonies, making inferences from statistics about trade and population in their effort to explain why the colonies prospered. The lesson includes an applicat...
Grade: 9-12

Lesson 5: Indentured Servitude: Why Sell Yourself into Bondage?
Focus: Understanding Economics in U.S. History
Many workers in colonial North America were indentured servants -- people who signed contracts stating they would work for up to seven years in exchange for passage to North America, plus room and board in their new workplaces. In...
Grade: 9-12

Lesson 6: Specialization and Trade in the Thirteen Colonies
Focus: Understanding Economics in U.S. History
The students examine information about resources and opportunities for specialization among the New England, Middle and Southern colonies. They use a five-step process to examine the costs and benefits arising from specialization ...
Grade: 9-12

Lesson 7: The Costs and Benefits of American Independence
Focus: Understanding Economics in U.S. History
The students work in groups to discuss changes in the relationship between Britain and the American colonies. By the 1760s, the relationship between the British Parliament and the colonists was fraught with tension and resistance....
Grade: 9-12

Lesson 8: Problems Under the Articles of Confederation
Focus: Understanding Economics in U.S. History
This lesson begins with a teacher-led discussion of economic problems facing the new nation under the Articles of Confederation. The students read and discuss information about these problems in a handout; then they consider possi...
Grade: 9-12

Lesson 9: The US Constitution: Rules of the Game
Focus: Understanding Economics in U.S. History
The students examine key economic clauses in the U.S. Constitution. They read about contemporary examples where the application of these constitutional provisions would have important consequences.
Grade: 9-12

Lesson 10: Rising Living Standards in the New Nation
Focus: Understanding Economics in U.S. History
The students participate in a simulation that demonstrates an increase in productivity. They discuss ways in which productivity can be increased; then they learn how technology, exemplified by Eli Whitney's cotton gin (1793), incr...
Grade: 9-12

Lesson 11: How Did Cotton Become King? The Economics of Cotton and Everything Else.
Focus: Understanding Economics in U.S. History
The students examine a series of visuals to learn how supply and demand analysis can be used to examine the change in cotton production in the American South. They construct graphs showing supply, demand and the market price of co...
Grade: 9-12

Lesson 12: Francis Cabot Lowell and the New England Textile Industry
Focus: Understanding Economics in U.S. History
The teacher presents information about the characteristics of entrepreneurs. The students read a passage about Francis Cabot Lowell and the New England textile industry and identify the entrepreneurial activities exemplified by Lo...
Grade: 9-12

Lesson 13: Improving Transportation
Focus: Understanding Economics in U.S. History
The students study transportation-related mysteries and related information to learn how improvements in transportation in the first half of the nineteenth century reduced the cost of making goods available to consumers.
Grade: 9-12

Lesson 14: Investing In American Growth
Focus: Understanding Economics in U.S. History
This is a lesson about economic growth in the United States before the Civil War. It was a time in which many Americans became prosperous through the investments they made. This point is introduced through an example. The students...
Grade: 9-12

Lesson 15:Why did the Indians of the Great Plains Invite White Americans Into Their Land?
Focus: Understanding Economics in U.S. History
The teacher introduces a mystery: Why would American Indians in the 1830s welcome contacts with white Americans? The students then participate in a simulation of trade activity among Indians, New Mexicans and American traders in t...
Grade: 9-12

Lesson 16: Andrew Jackson and the Second Bank of the United States
Focus: Understanding Economics in U.S. History
The students participate in a simulation that demonstrates how banks create money and facilitate exchange and economic growth. The simulation provides a basis for the students' subsequent examination of Andrew Jackson's veto of th...
Grade: 9-12

Lesson 17: Free the Enslaved and Avoid the War
Focus: Understanding Economics in U.S. History
This lesson calls upon students to role-play people who were sympathetic to slaveholding. Be certain to remind the students not to confuse statements made during the role playing with the actual beliefs of the students assuming th...
Grade: 9-12

Lesson 18: Why Did the South Secede?
Focus: Understanding Economics in U.S. History
The students examine information in a series of visuals about the strengths and weaknesses of the South and the North on the eve of the Civil War. They analyze alternative approaches to eliminating slavery, and they discuss the co...
Grade: 9-12

Lesson 19:Economic Analysis of the Civil War
Focus: Understanding Economics in U.S. History
The students examine information presented in visuals and work in small groups to analyze the economic impact of the Civil War. The Civil War ended slavery and the possibility of Southern secession. But did the war help or impede ...
Grade: 9-12

Lesson 20:Was Free Land a Good Deal?
Focus: Understanding Economics in U.S. History
Students work in small groups to investigate the costs of taking up a homestead in the western United States shortly after the Homestead Act was passed in 1862. In whole class discussion, the student groups explain their choices, ...
Grade: 9-12

Lesson 21:Growth of the U.S. Economy After the Civil War
Focus: Understanding Economics in U.S. History
This lesson focuses on changes in the U.S. economy in the years following the Civil War. After examining tables of data and explanatory materials, the students use economic reasoning to identify sources of economic growth and deve...
Grade: 9-12

Lesson 22: The Demand for Immigrants
Focus: Understanding Economics in U.S. History
The students analyze information to solve a mystery about immigration. The teacher elaborates on their solution by using supply and demand curves to illustrate the demand for and supply of labor in the United States from the end o...
Grade: 9-12

Lesson 23: Bigger is Better: The Economics of Mass Production
Focus: Understanding Economics in U.S. History
The students examine a series of visuals that explain economies of scale. Volunteers are asked to do calculations regarding levels of production. The character of the United States economy changed late in the nineteenth century. M...
Grade: 9-12

Lesson 24: Industrial Entrepreneurs or Robber Barons?
Focus: Understanding Economics in U.S. History
This lesson focuses on a group of nineteenth-century industrial entrepreneurs described in many history books as Robber Barons. It calls upon students to analyze the activities of these entrepreneurs in order to draw conclusions a...
Grade: 9-12

Lesson 25: The Economic Effects of the Nineteenth-Century Monopoly
Focus: Understanding Economics in U.S. History
The students are introduced to the different types of business entities: the pure competitor, monopolist and cartel. They play a game that illustrates how difficult it can be for cartels or trusts to boost profits by colluding to ...
Grade: 9-12

Lesson 26: Could the U.S. Economy Have Grown Without the Railroads?
Focus: Understanding Economics in U.S. History
The students examine data about economic growth and the expansion of railroads in the United States after the Civil War. They assess ways in which the railroads may have contributed to economic growth in agriculture and the indust...
Grade: 9-12

Lesson 27: Free Silver or a Cross of Gold?
Focus: Understanding Economics in U.S. History
The students view a series of visuals to learn about the money controversy of the last decades of the nineteenth century. They conduct a simulation activity designed to show why proponents of the Greenback and Free Silver movement...
Grade: 9-12

Lesson 28: Money Panics and the Establishment of the Federal Reserve System
Focus: Understanding Economics in U.S. History
Several students perform a play that illustrates how an unregulated banking system contributed to a number of severe money panics in the late nineteenth century. The students then read a passage about the establishment of the Fede...
Grade: 9-12

Lesson 29: Who Should Make the Food Safe?
Focus: Understanding Economics in U.S. History
The students examine issues related to food safety. They role-play, participate in a class discussion and analyze a graph depicting changes in a market to gain insight into ways in which government regulations affect the behavior ...
Grade: 9-12

Lesson 30: Whatdunnit? The Great Depression Mystery
Focus: Understanding Economics in U.S. History
The students read a brief passage posing the basic question about the Great Depression: Why did it happen? A brief simulation activity shows how unemployment in one part of the economy can lead to unemployment in other parts of th...
Grade: 9-12

Lesson 31: Did the New Deal Help or Harm the Recovery?
Focus: Understanding Economics in U.S. History
Note to the teacher: This lesson is closely tied to the preceding lesson, Whatdunnit? The Great Depression Mystery. The students in groups analyze the New Deal to determine whether individual policies helped end the depression by ...
Grade: 9-12

Lesson 32: We Shall Not Be Moved
Focus: Understanding Economics in U.S. History
In an examination of trends in union membership, the students read lyrics from a union song and analyze statistics on union membership in light of labor policy before and after 1930. New legislation in the 1930s changed the rules ...
Grade: 9-12

Lesson 33: When the Boys Came Marching Home
Focus: Understanding Economics in U.S. History
The students are presented with a mystery about economic conditions in the United States after World War I and World War II. They solve the mystery in groups, using clues about the state of aggregate demand after each war.
Grade: 9-12

Lesson 34: Women in the U.S. Workforce
Focus: Understanding Economics in U.S. History
The students examine information about changes in the number of women participating in the labor force during and immediately after World War II. They are asked to explain the increase in the number of women working outside the ho...
Grade: 9-12

Lesson 35: The Economics of Racial Discrimination
Focus: Understanding Economics in U.S. History
The students examine Jim Crow segregation laws and discuss the costs of racial segregation. They examine an economic mystery about segregation, using the Guide to Economic Reasoning. Finally, they read and discuss an essay about H...
Grade: 9-12

Lesson 36: The No-Good Seventies
Focus: Understanding Economics in U.S. History
The students read an explanation of the causes of inflation and unemployment, with special reference to the economic problems of the 1970s. They analyze unemployment and inflation rates and use their analyses, together with inform...
Grade: 9-12

Lesson 37: The Hispanic Americans
Focus: Understanding Economics in U.S. History
The students read information about the Hispanic population in the Southwest. They examine tables documenting increases in the population of the Southwest and the rise of the Hispanic (or Latino) population throughout the country....
Grade: 9-12

Lesson 38: The Knowledge and Technology-Based Economy of Today
Focus: Understanding Economics in U.S. History
The students examine information about knowledge workers and their impact on economic expansion. They discuss the opportunity cost and the benefits of investing in education beyond high school. From 1968 to the present, the knowle...
Grade: 9-12

Lesson 39: The World Trade After WWII: The EU, NAFTA, and the WTO
Focus: Understanding Economics in U.S. History
The students participate in a trading simulation that illustrates the consequences of voluntary trade among individuals in increasingly large groups. They apply insights from this experience in an analysis of international trade a...
Grade: 9-12

Lesson 1 - Why Is Globalization So Controversial?
Focus: Globalization
This lesson provides an overview of the major issues that have been raised in the debate over globalization. After a brief introductory reading, students are assigned to various roles in a much longer reader's theater activity dep...
Grade: 9-12

Lesson 2 - Why People Trade, Domestically and Internationally
Focus: Globalization
Students participate in a trading game and discuss why people trade. Then they apply the concept of comparative advantage to two hypothetical situations involving individuals and countries. They learn why both parties in voluntary...
Grade: 9-12

Lesson 3 - Finding a Comparative Advantage, Including Your Own
Focus: Globalization
Students examine trade data for U.S. exports to and imports from China, and use the data to identify both nations' comparative advantage in trading with each other. They discuss which of three possible sources of comparative advan...
Grade: 9-12

Lesson 4 - Globalization and the U.S. Economy
Focus: Globalization
In this lesson students investigate the impact of globalization - especially the effects of increased international trade - on local or national culture and traditions. Given a definition of culture as a shared system of behaviors...
Grade: 9-12

Lesson 5 - U.S. and World Trade: Past and Present
Focus: Globalization
Students conduct a class survey to learn which nations most people in their community believe are the leading U.S. trading partners, and what goods the United States exports and imports most. They then analyze current data on thes...
Grade: 9-12

Lesson 6 - The Impact of Globalization on Tradition and Culture
Focus: Globalization
In this lesson students investigate the impact of globalization - especially the effects of increased international trade - on local or national culture and traditions. Given a definition of culture as a shared system of behaviors...
Grade: 9-12

Lesson 7 - Globalization and the Environment
Focus: Globalization
A demonstration activity in which teams of students simulate a production process by shelling peanuts illustrates how "spillover" problems can affect people who are neither producers nor consumers of the product, sometimes includi...
Grade: 9-12

Lesson 8 - Migration
Focus: Globalization
In an introductory activity students take the roles of people who are affected - some positively and some negatively - by the migration of skilled and unskilled workers. The economic causes and effects of migration are analyzed an...
Grade: 9-12

Lesson 9 - Globalization and Standards of Living: Prediction and Measurement
Focus: Globalization
In this lesson students consider ways to measure and then compare the degree of globalization and the standards of living in different countries. To introduce the idea of tracking complex social issues using different kinds of dat...
Grade: 9-12

Lesson 10 - Protecting the U.S. Sugar Industry from Foreign Outsourcing: A Bittersweet Idea
Focus: Globalization
Students participate in a small group activity - taking roles as consumers, producers, taxpayers, or workers - to review the costs and benefits of programs that keep U.S. prices for sugar two or three time higher than the world p...
Grade: 9-12

Lesson 11 - Limiting Trade - Who Gains, Who Loses?
Focus: Globalization
This lesson introduces three types of trade barriers: tariffs, quotas, and subsidies. In a small group activity, students determine who wins and who loses when each type of trade barrier is imposed. A reading on agricultural subsi...
Grade: 9-12

Lesson 12 - Trade, Investment, and the Balance of Payments
Focus: Globalization
Students use a balance of payments account between two countries, and a hands-on activity that demonstrates the relationship between the current account and the financial account, to understand the relationship between internation...
Grade: 9-12

Unit 1: Basic Economic Concepts
Energy, Economics, and the Environment: Case Studies and Teaching Activities for Elementary School
One of the main purposes of this Energy, Economics, and the Environment (EEE) curriculum is to help students understand the economic implications of basic public policy issues concerning forests, water, and energy. Unit 1 teaches ...
Grade: 3-5, 6-8

Unit 2: Trees and Forests
Energy, Economics, and the Environment: Case Studies and Teaching Activities for Elementary School
Trees and forests are a vital natural resource and affect our lives in innumerable ways. Therefore, it is very important that we learn how to manage our forest resource effectively. Fortunately, forest management in the United Sta...
Grade: 3-5, 6-8

Unit 3: Water Resources
Energy, Economics, and the Environment: Case Studies and Teaching Activities for Elementary School
In this unit, students explore the value of our water resources. Students learn how water resources can become polluted and they investigate the costs involved in cleanup. Students also learn that it is impractical to have perfect...
Grade: 3-5, 6-8

Unit 4: Energy Resources
Energy, Economics, and the Environment: Case Studies and Teaching Activities for Elementary School
There has been a renewed interest recently in the topic of energy. One reason has been the increase in the price of oil and natural gas and the perceived vulnerability of the United States to an increasing dependence on foreign en...
Grade: 3-5, 6-8

Unit 1: Water Resources
Energy, Economics, and the Environment: Case Studies and Teaching Activities for High School
In this unit, students confront the very real problem of the pollution of our lakes, rivers, streams, and groundwater. This pollution occurs because water resources are often commonly owned and, therefore, tend to be overused by b...
Grade: 9-12

Unit 2: Forest Resources
Energy, Economics, and the Environment: Case Studies and Teaching Activities for High School
Forest management in the United States has improved greatly since the early part of this century when our forests were often abused. Forest growth today is improving steadily, even in the face of increasing demand for wood product...
Grade: 9-12

Unit 3: Renewable Energy Resources
Energy, Economics, and the Environment: Case Studies and Teaching Activities for High School
For several reasons, there has been renewed interest in the topic of renewable energy. One reason has been the increase in the price of oil and natural gas and the perceived vulnerability of the United States to an increasing depe...
Grade: 9-12

Unit 4: Global Warming
Energy, Economics, and the Environment: Case Studies and Teaching Activities for High School
In this unit students analyze the complex topic of global warming. Your students will discover that there remains some scientific uncertainty about global warming. This makes it challenging for public policy makers, who must decid...
Grade: 9-12

Lesson 1 - Rolling for Resources
Focus: Economics - Grades 3-5
This lesson is designed to introduce the concept of productive resources as human resources, natural resources or capital resources (goods). By playing a game, the students practice identifying and categorizing various resources....
Grade: 3-5, 6-8

Lesson 2 - Back-to-School Scarcity
Focus: Economics - Grades 3-5
While producing classroom decorations, student groups realize there is a scarcity of human resources. There are not enough students to produce the quantity of decorations the teacher requests in the time allowed. Because of scar...
Grade: 3-5, 6-8

Lesson 3 - We've Got Goods
Focus: Economics - Grades 3-5
In this lesson, the students read about an elementary student and identify the goods and services she uses in a day. After categorizing goods and services as those that are privately produced or that are provided by government, t...
Grade: 3-5, 6-8

Lesson 4 - A Taxing Situation
Focus: Economics - Grades 3-5
In this two-part lesson, the students learn the definition of income tax, sales tax and property tax, as well as a simple formula to determine the amount of each tax. In addition, the students conduct a survey and participate in ...
Grade: 3-5, 6-8

Lesson 5 - Flagging Profits
Focus: Economics - Grades 3-5
In this lesson, the students work in groups to produce flags. Each group determines the total cost of its resources and intermediate goods and the unit cost of its flag. Then each group draws a card that determines the selling p...
Grade: 3-5, 6-8

Lesson 6 - My Problem, My Solution
Focus: Economics - Grades 3-5
Successful entrepreneurs recognize opportunities to solve problems. In this lesson, the students look at products that were invented to solve problems. They examine a product used to raise beds and thing about why this product w...
Grade: 3-5, 6-8

Lesson 7 - The Shape of Production
Focus: Economics - Grades 3-5
In this simulation, the students act as workers to produce two-dimensional shapes using toothpicks and marshmallows. Through the timed production process, the students learn that specialization of labor and specialization of prod...
Grade: 3-5, 6-8

Lesson 8 - Competing for Buyers
Focus: Economics - Grades 3-5
In this lesson, the students consider ways in which sellers compete to attract consumers to buy various products, such as hamburgers, movie rentals and cereal. Through the activities, the students recognize that consumers benefit...
Grade: 3-5, 6-8

Lesson 9 - Bulletin-Board Banking
Focus: Economics - Grades 3-5
In this lesson, the students participate in activities that demonstrate the role of banks in a community. They learn that banks facilitate community growth by receiving funds from savers and transferring a portion of those funds ...
Grade: 3-5, 6-8

Lesson 10 - What Makes Money Acceptable
Focus: Economics - Grades 3-5
In this lesson, the students participate in a demonstration to identify the characteristics that make something a good form of money. Following the demonstration, the students learn about changes that were made to U.S. currency t...
Grade: 3-5, 6-8

Lesson 11 - How Many Snacks Will the Students Buy?
Focus: Economics - Grades 3-5
In this lesson, the students role-play as consumers with a fixed amount to spend. They react to changes in price for a favorite snack food. The students use the data from this activity to describe the relationship between price ...
Grade: 3-5, 6-8

Lesson 12 - Neighborhood Producers and Consumers
Focus: Economics - Grades 3-5
In this lesson, students examine the story of "The Little Red Hen" to determine the types of activities that make someone a producer or a consumer. Students extend their knowledge of producers and consumers by identifying occasio...
Grade: 3-5, 6-8

Lesson 13 - Moving in Economic Circles
Focus: Economics - Grades 3-5
In this lesson, the students experience the circular flow of economic activity by assuming the roles of households and businesses and seeking to make exchanges in both the market for resources and the market for goods and services...
Grade: 3-5, 6-8

Lesson 14 - Tic-Tac-Toe Trade
Focus: Economics - Grades 3-5
In this lesson, the students participate in an activity that demonstrates the benefits of specialization and voluntary exchange. The students are divided into two groups, representing two countries, and the students in each count...
Grade: 3-5, 6-8

Lesson 1: Charlie Needs a Cloak
Teaching Economics Using Children's Literature
Charlie and his favorite sheep produce a good - a new cloak. Students learn about the different productive resources (natural, human, and capital) that Charlie uses. Charlie does not specialize in his production - he does all th...
Grade: 3-5

Lesson 2: The Giving Tree
Teaching Economics Using Children's Literature
This a tender story about a tree and a boy. The tree loves the boy so much that it is willing to give the boy everything that it has (apples, shade, branches, and trunk). This story represents the ultimate sacrifice of love and ...
Grade: 3-5

Lesson 3: The Doorbell Rang
Teaching Economics Using Children's Literature
The Doorbell Rang is a story that emphasizes the spirit of giving. It is an amusing story of two children about to eat a dozen cookies. Each time the children start to eat their cookies, the doorbell rings. Each ring of the doo...
Grade: 3-5

Lesson 4: Arthur's Pet Business
Teaching Economics Using Children's Literature
To prove he is responsible enough to own a pet and to repay a debt of money to his sister, Arthur decides to start a pet business - providing pet care service to community members. He advertises by putting up signs around the nei...
Grade: 3-5

Lesson 5: Pancakes, Pancakes!
Teaching Economics Using Children's Literature
This is a story about a boy named Jack who wakes up with an enormous appetite for pancakes. His mother informs him that before she can make pancakes, he must first gather all the necessary ingredients. Jack must cut the wheat, t...
Grade: 3-5

Lesson 6: The Goat in the Rug
Teaching Economics Using Children's Literature
Geraldine the goal literally puts her whole self into the weaving of a Navajo rug. After being sheared for her wool, she watches as Glenmae cleans, dries, combs, spins, and dyes her wool. Geraldine is so proud. A lot of her is ...
Grade: 3-5

Lesson 7: Mitchell Is Moving
Teaching Economics Using Children's Literature
Mitchell the dinosaur is bored and wants to move away. His decision to move costs him something, something very important left behind. Mitchell solves the dilemma, builds a new home, and keeps an old friend.
Grade: 3-5

Lesson 8: Uncle Jed's Barbershop
Teaching Economics Using Children's Literature
Uncle Jed's Barbershop is a heartwarming story about a barber who travels the countryside cutting poor folks' hair. Uncle Jed has a kind heart and a giving spirit. He lives for the day that he can own his own barbershop. It tak...
Grade: 3-5

Lesson 9: Ant Cities
Teaching Economics Using Children's Literature
This is a nonfiction story about different kinds of ants and how they live and work together. Ants live in colonies, and all ants have particular jobs to do, much like workers in our cities. Working together, ants keep their "ci...
Grade: 3-5

Lesson 10: Follow an Ice-Cream Cone Around the World
Teaching Economics Using Children's Literature
Travel around the world with the Green$treet kids as they discover what it takes to make ice cream. Through this story, the students will visit the places where the different ingredients (natural resources) in ice cream are found...
Grade: 3-5

Lesson 11: My Rows and Piles of Coins
Teaching Economics Using Children's Literature
A Tanzanian boy saves his coins to buy a bicycle so that he can help his parents carry goods to market. He eventually discovers that in spite of all he has saved, he still does not have nearly enough money.
Grade: 3-5

Lesson 12: To Market, To Market
Teaching Economics Using Children's Literature
This story, modeled after the familiar nursery rhyme about going to the market to buy a fat pig, illustrates the chaos that is created when the animals for purchase won’t cooperate. Cooking a meal of homemade soup turns into quite...
Grade: 3-5

Lesson 13: The Tortilla Factory
Teaching Economics Using Children's Literature
The Tortilla Factory is a simple, yet enjoyable way to introduce the concept of production to your students. The book very simply explains the process of producing tortillas, from collecting the productive resources to marketing ...
Grade: 3-5

Lesson 14: A Chair for My Mother
Teaching Economics Using Children's Literature
When all their possessions were burned in a fire, a little girl, her mother, and grandmother save all their extra money to buy a special chair. The characters make choices to save in order to obtain something important to them.
Grade: 3-5

Lesson 15: The Babe and I
Teaching Economics Using Children's Literature
The story is about a young boy growing up in New York during the Great Depression. He learns that his father is selling apples to support the family. The boy decides to help support the family by becoming a "newsie" - a street cor...
Grade: 3-5

Lesson 16: The Three Little Pigs
Teaching Economics Using Children's Literature
Three little pigs are being threatened by a big, bad wolf. Each pig is forced to make a decision on how to protect himself from the wolf. What kind of house will each build?
Grade: 3-5

Lesson 17: From the Mixed Up Files of Mrs. Basil Frankweiler
Teaching Economics Using Children's Literature
Eleven-year-old Claudia Kincaid feels that too much responsibility has been placed on her at home. To make her family appreciate her more, she decides to run away from home. Claudia persuades her younger brother, Jamie, to accompa...
Grade: 3-5

Lesson 18: The Sign of the Beaver
Teaching Economics Using Children's Literature
Matt and his father have traveled to the Maine wilderness to start a new settlement for their family. He and his father build a comfortable cabin. His father returns to the city to get the family and leaves Matt alone to protect t...
Grade: 3-5

Lesson 19: Stone Fox
Teaching Economics Using Children's Literature
Ten-year-old Little Willy faces a big job when his grandfather falls ill. It is up to him to save their potato farm from the tax collectors. Willy has a big economic problem — he needs five hundred dollars to pay his grandfather’s...
Grade: 3-5

Lesson 20: Holes
Teaching Economics Using Children's Literature
Stanley Yelnats is under a curse begun by his “pig-stealing” great-great-grandfather years ago. Stanley finds himself in a detention camp for boys, where he was sent — unjustly — for stealing a pair of sneakers. Every day, each bo...
Grade: 3-5

Lesson 21: Lunch Money
Teaching Economics Using Children's Literature
Greg is a sixth grader with a love for money. He had his first lemonade stand in second grade and is always looking for new ways to make money. Greg recently discovered that most students bring extra money to school each day, so h...
Grade: 3-5

Lesson 22: Island of the Blue Dolphin
Teaching Economics Using Children's Literature
Karana is an Indian girl stranded alone on an island for 18 years. When the rest of her tribe is forced to flee the island, she learns to use her human resources and the island’s natural resources to survive. (Chapter book)
Grade: 3-5

Lesson 23: Beetles Lightly Toasted
Teaching Economics Using Children's Literature
The subject for this year's contest at school is "Conservation." Ten-year-old Andy Moller, who lives on an Iowa farm, and his cousin Jack are both determined to win the $50 prize. The two boys devise hilarious ways to conserve r...
Grade: 3-5

Lesson 24: Night of the Twister
Teaching Economics Using Children's Literature
This story, based on a real event, tells how the Hatch family and the people of Grand Island, Nebraska, survive a night of terror when their town is devastated by several tornadoes. Together they not only live through the tragedy...
Grade: 3-5

Rights
Nexus: Connections Between Economics and Civics
That individuals have rights is a basic assumption of the modern theory and practice of liberal democracy. Government has a responsibility to secure citizens’ rights. Rights, including but not limited to property rights, are essen...
Grade: 9-12

Institutions
Nexus: Connections Between Economics and Civics
Institutions are arrangements and settled practices that have evolved or been established to perform political and economic functions for the benefit of the whole society or groups within it.
Grade: 9-12

Efficiency
Nexus: Connections Between Economics and Civics
One goal in both a market economy and a democratic society is efficiency. While there are numerous definitions of efficiency, one way to conceive of efficiency is this: for both the economy and political system generally to produc...
Grade: 9-12

Decision Making
Nexus: Connections Between Economics and Civics
Economic resources used to produce goods and services are scarce, forcing individuals and governments to make choices about how to use those resources. All choices have costs, and analyzing costs incurred relative to benefits rece...
Grade: 9-12

Stability
Nexus: Connections Between Economics and Civics
Liberal democracies seek to maintain stability through both the governmental and economic systems. By stability, we mean both the quality of dependability and the absence of extreme fluctuations in both government and the economy....
Grade: 9-12

Market and Government Failure
Nexus: Connections Between Economics and Civics
The performance of both market economies and liberal democracies sometimes falls short of the ideal. These shortcomings are often referred to as market or government “failures.”
Grade: 9-12

Regulation
Nexus: Connections Between Economics and Civics
When markets fail to work ideally, government may take an active role in correcting such failures, such as imperfectly competitive markets or the presence of externalities. Often in these cases, government attempts to alter less t...
Grade: 9-12

Globalization
Nexus: Connections Between Economics and Civics
Today the world is organized into some 200 nation-states, each of which claims its own sovereignty. Nation-states do not exist in isolation—each is part of an interconnected world in whose development it plays a role. The sovereig...
Grade: 9-12

Lesson 1 - Which One Do I Want More?
Economics from Here to There
The students listen to a short story in which Anna must make a choice and learn about opportunity cost. Given a selection of paper bags containing small items, the students must select one bag and decide if they wish to keep the b...
Grade: 9-12

Lesson 2 - The Candy Kids - Supply and Demand for Candy
Economics from Here to There
The students participate in and discuss two games aimed at giving them an understanding that consumers and producers respond to incentives and behave according to the law of demand (as illustrated by the first game) and the law of...
Grade: 9-12

Lesson 3 - The Classy Card Company
Economics from Here to There
The students form the Classy Card Company to produce greeting cards. The company has orders for birthday cards from two different businesses. Because of scarcity, the Classy Card Company cannot produce enough cards to fill both or...
Grade: 9-12

Lesson 4 - Rush Hour
Economics from Here to There
Incentives that people face influence their everyday decisions. Using a road-map game board, the students simulate driving to work and choose driving routes based on incentives. The students analyze how changes in incentives cause...
Grade: 9-12

Lesson 5 - Who Gets to See the Game?
Economics from Here to There
Scarcity forces people to allocate goods and services in a variety of ways. In this lesson, the students use cost/benefit analysis to analyze various methods of allocation, first for tickets to a football game and then for organ t...
Grade: 9-12

Lesson 6 - Don't Be Discouraged!
Economics from Here to There
The students develop a classification chart identifying which workers are employed and unemployed, determining which workers are counted as unemployed and classifying what type of unemployment each worker is experiencing. The stud...
Grade: 9-12

Lesson 1: A Season of Goods
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on goods and services (economics) and basic operations (mathematics). The students review the four seasons of the year and brainstorm goods and services that people often purchase during each season. The studen...
Grade: 3-5

Lesson 2: Choices, Choices
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on decision making (economics) and introduces surveying as a method of data collection (mathematics). After analyzing data on a sample topic, the students use a decision-making grid to help them rank career cho...
Grade: 3-5

Lesson 3: What's Hot! What's Not!
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on exchange and trade (economics) and mean, median and temperatures (mathematics). The students review how to read temperatures on a thermometer and discuss activities associated with various temperatures. They...
Grade: 3-5

Lesson 4: Pizza on a Budget
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on budgeting (economics) and basic operations (mathematics). The students participate in a mouth-watering budget activity while they use estimating skills and practice identifying costs and benefits. Using a bu...
Grade: 3-5

Lesson 5: The Math Factory
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on productivity (economics) and multiplication (mathematics). The students learn about physical capital and human capital as they create multiplication-fact review cards. In the first production round, groups o...
Grade: 3-5

Lesson 6: Bookmark Profit
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on profit (economics) and basic operations (mathematics). Working in small groups, the students act as companies and produce bookmarks. They decide which resources to purchase to produce their bookmarks. They c...
Grade: 3-5

Lesson 7: Go Fly a Kite
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on resources and barter (economics) and geometry (mathematics). After reviewing the concept of bartering, the students roll a four-sided dice to gather some of the resources they will need to build a tetrahedro...
Grade: 3-5

Lesson 8: Doughnut Dreaming
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on demand (economics) and line graphs (mathematics). The students use a class survey to collect data about the quantity demanded of doughnuts at different prices. They use this data to construct a line graph. T...
Grade: 3-5

Lesson 9: How Much Time?
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on opportunity cost (economics) and graphs (mathematics). The students review terms related to measuring time and convert a time schedule into a pie chart, or circle graph. The students use the circle graph to ...
Grade: 3-5

Lesson 10: Bunches of Brownies
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on resources (economics) and fractions (mathematics). The students use measuring cups to determine equivalent fractions for a recipe. Thinking economically, the students identify the productive resources they w...
Grade: 3-5

Lesson 11: Plenty of Pennies
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on interest (economics) and percents (mathematics). The students use pennies to help them compute percents. They convert percent to decimals and figure interest amounts on savings or borrowed money. They role-p...
Grade: 3-5

Lesson 12: Birdly Exchange
Mathematics & Economics: Connections for Life - 3-5
This lesson focuses on barter, money and characteristics of money (economics) and fractions and ratios (mathematics). The students will role-play a bartering activity and participate in trading simulations using feathers and birdl...
Grade: 3-5

Lesson 1 - The Problem of the Homeless Salmon
Economics and the Environment: Ecodetectives
This lesson introduces the principles of EcoDetection, a key element of EcoDetectives. By reference to the principles of EcoDetection, the lesson describes the problem of declining wild salmon populations and calls upon students t...
Grade: 6-8

Lesson 2 - Why Do Free Goods Disappear Quickly?
Economics and the Environment: Ecodetectives
The teacher conducts a class discussion focused on how people tend to take better care of things they own and why they may be careless with things they do not own.
Grade: 6-8

Lesson 3 - Why Do We Have So Few Whales and So Many Chickens?
Economics and the Environment: Ecodetectives
The students participate in a classroom simulation that demonstrates the tragedy of the commons. Next, the simulation is altered by an introduction of property rights, and the simulation outcome changes. Then the students solve th...
Grade: 6-8

Lesson 4 - The Environment: Who Loves Ya, Baby?
Economics and the Environment: Ecodetectives
The students participate in a simulation activity that illustrates how incentives influence the behavior of people trying to earn income. In a variation of the simulation activity, they observe the effects of rule changes. When th...
Grade: 6-8

Lesson 5 - Cleaning the Lake Marginally
Economics and the Environment: Ecodetectives
The students examine an example of what not to do while drinking water on a long hike. They use the concept of marginal analysis in analyzing the example. Then they examine the marginal costs and benefits of an environmental clean...
Grade: 6-8

Lesson 6 - How Can We Help Endangered Species?
Economics and the Environment: Ecodetectives
The students are presented with information about the Endangered Species Act (ESA) and examples of species appearing on the protected list. They examine the history of species protection under the ESA. They are asked to imagine ho...
Grade: 6-8

Lesson 7 - Can Incentives Protect Endangered Species?
Economics and the Environment: Ecodetectives
The students discuss ways to protect fish placed on display in a science class. By viewing visuals, they learn about key provisions of the Endangered Species Act. They role-play international commissioners and make recommendations...
Grade: 6-8

Lesson 8 - The Costs and Benefits of Having Children
Economics and the Environment: Ecodetectives
The students analyze data about rich and poor countries in order to examine the impact of economic wealth on population growth. Then they read a letter written by a Wisconsin farmer in 1854 regarding the work done by children in h...
Grade: 6-8

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 ...
Grade: 6-8

Lesson 10 - Why Drive When You Can Ride?
Economics and the Environment: Ecodetectives
The students examine data showing that many Americans prefer to drive their own automobiles rather than use mass public transit. They analyze this preference by reference to the costs and benefits of driving. In light of the exter...
Grade: 6-8

Lesson 11 - If We Grow More Food, Won't We Degrade the Environment?
Economics and the Environment: Ecodetectives
The students examine evidence about the impact of modern farming. They analyze the costs and benefits of modern agricultural practices, noting that the benefits derive from improved productivity. They assess the possibility that c...
Grade: 6-8

Lesson 12 - Recycling or Landfill Disposal: What Is the Best Way to Protect the Environment?
Economics and the Environment: Ecodetectives
The students investigate four proposed recycling programs (curbside recycling, newspaper recycling, recycling of aluminum cans, and banning disposable diapers from landfills) and decide whether the programs should be adopted or no...
Grade: 6-8

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 an...
Grade: 6-8

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 pric...
Grade: 6-8

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 cre...
Grade: 6-8

Lesson 1 - Why Insurance and How Does It Work?
Virtual Economics: Insurance Lessons
This lesson uses readings and group work to describe the risks that are a part of everyone's life. It then elaborates on five ways to handle risk. Two of these ways are to share and transfer risk, which is the purpose of insurance...
Grade: 9-12

Lesson 2 - The Basics of Life Insurance
Virtual Economics: Insurance Lessons
This lesson focuses on basic information that everyone should know and be able to apply when they purchase life insurance. This knowledge is especially important for recent high school graduates who are approached to buy life insu...
Grade: 9-12

Lesson 3 - Everything You Ever Wanted to Know About Automobile Insurance
Virtual Economics: Insurance Lessons
The topic of automobile insurance is important to most high school students because of their interest in owning and operating a car or truck. But many teenagers think vehicle insurance is esoteric and mysterious. This lesson provi...
Grade: 9-12

Lesson 4 - Why Renter's Insurance?
Virtual Economics: Insurance Lessons
This lesson focuses on a question that many of your students will face in college and/or in their first job as they live in apartments: Should they buy renter's insurance? Many students do not know what renter's insurance covers o...
Grade: 9-12

Lesson 1: Stock Prices
Learning, Earning and Investing: Grades 4-5 Lessons
Newspaper and Internet listings of stock prices provide important information for investors. Gathering and understanding information found in the stock listings is an important life skill, and also a useful skill for students part...
Grade: 3-5

Lesson 2: Savings Accounts and U.S. Savings Bonds
Learning, Earning and Investing: Grades 4-5 Lessons
People who want to save money can do so in various ways. One method is to use a savings account; another is to buy U. S. Savings Bonds. In this lesson, the students learn about these two methods of saving.
Grade: 3-5

Lesson 3: What Happens When a Bank Makes a Loan?
Learning, Earning and Investing: Grades 4-5 Lessons
The students play roles in a simulation activity designed to show how bank loans made to individuals can have an impact on others in the community. Then, working in small groups, the students analyze other hypothetical loans, usin...
Grade: 3-5

Lesson 4: Why Do People Go to School?
Learning, Earning and Investing: Grades 4-5 Lessons
The students look at a simple chart relating education level with average annual income. From the data the students generalize that people with more education usually earn more income. They learn that human capital refers to the k...
Grade: 3-5

Lesson 1 - What Are Productive Resources?
Middle School World Geography: Focus on Economics
In this lesson, the students become economic detectives and try to determine how economists categorize productive resources. Working in groups, the students sort cards into categories they create and then specify the characteristi...
Grade: 6-8

Lesson 2 - How Much Depends on Where
Middle School World Geography: Focus on Economics
In this lesson, the students learn how the geography of a country can influence where goods are produced. The students use a map of a fictitious country to enhance their map skills. They derive geographic information from the map,...
Grade: 6-8

Lesson 3 - Economics and Population Demographics
Middle School World Geography: Focus on Economics
In this lesson, the students use data and graphs to analyze and compare the populations and standards of living for different countries. The students begin by building a population pyramid of the children in their families over th...
Grade: 6-8

Lesson 4 - Why Do People Move?
Middle School World Geography: Focus on Economics
In this lesson, the students learn that costs and benefits influence people's decisions about moving. The students review U.S. Census data to discuss possible reasons why people move. They analyze the costs and benefits of moving....
Grade: 6-8

Lesson 5 - Economic Freedom: How Important Is It?
Middle School World Geography: Focus on Economics
In this lesson, the students participate in activities that help them understand the correlation between economic freedom and a country's standard of living. First the students decide whether they agree or disagree with rules and ...
Grade: 6-8

Lesson 6 - Joining Together That Which Has Drifted Apart
Middle School World Geography: Focus on Economics
In this lesson, the students learn about the physical forces that move people on different continents further apart and the economic forces that bring them together. They read about the formation and breakup of two great continent...
Grade: 6-8

Lesson 7 - What a Difference a Tool Makes!
Middle School World Geography: Focus on Economics
In this lesson, the students use problem solving skills to make decisions about using productive resources. The students observe a simple production activity that gradually requires the use of more and more tools. After a short di...
Grade: 6-8

Lesson 8 - Ideas That Changed the World
Middle School World Geography: Focus on Economics
In this lesson, the students learn about productivity and its connection to the standard of living. They learn about inventions that changed the world. The students make predictions about recent inventions and the impact of these ...
Grade: 6-8

Lesson 9 - The Cost of Ignoring Economics and Geography
Middle School World Geography: Focus on Economics
In this lesson, the students learn how geography affects the costs of achieving an environmental goal. They remodel the classroom using a map showing several companies located along a river. They participate in a simulation that s...
Grade: 6-8

Lesson 1 - Why Save?
Learning, Earning and Investing: High School
Following an introduction that defines saving, the students discuss the idea of "paying yourself first" and the reasons why people save. After reporting on their small-group discussions, the students simulate the accumulation of s...
Grade: 6-8, 9-12

Lesson 2 - Investors and Investments
Learning, Earning and Investing: High School
In this lesson the students explore different types of investments, some of which are unconventional, in order to grasp the basic idea that investment involves trading off present benefits for future satisfaction. The students als...
Grade: 6-8, 9-12

Lesson 3 - Invest in Yourself
Learning, Earning and Investing: High School
To explore the concept that people invest in themselves through education, the students work in two groups and participate in a mathematics game. Both groups are assigned mathematics problems to solve. One group is told about a sp...
Grade: 6-8, 9-12

Lesson 4 - What Is a Stock?
Learning, Earning and Investing: High School
The students work in small groups that represent households. Each household answers mathematics and economics questions. For each correct answer, a household earns shares of stock. At the end of the game, the groups that answered ...
Grade: 6-8, 9-12

Lesson 5 - Reading the Financial Pages: In Print and Online
Learning, Earning and Investing: High School
The students learn how to read and understand information presented in the financial pages of newspapers and online sources. Working in pairs, they examine entries for stocks, mutual funds and corporate bonds. They participate in ...
Grade: 6-8, 9-12

Lesson 6 - What Is a Bond?
Learning, Earning and Investing: High School
In this lesson the students learn what bonds are and how bonds work. They learn the basic terminology related to bonds and participate in a simulation activity aimed at showing that bonds are certificates of indebtedness, similar ...
Grade: 6-8, 9-12

Lesson 7 - What Are Mutual Funds?
Learning, Earning and Investing: High School
The students form class investment clubs that work much in the way mutual funds do. They invest $3,000 (300 shares at $10 a share) in up to six stocks. One year later they revalue their shares and determine whether a share in thei...
Grade: 6-8, 9-12

Lesson 8 - How to Buy and Sell Stocks and Bonds
Learning, Earning and Investing: High School
In this lesson the students learn about the financial markets in which stocks and bonds are bought and sold. They read about the high transaction costs that individual investors would experience if there were no financial markets....
Grade: 6-8, 9-12

Lesson 9 - What Is a Stock Market?
Learning, Earning and Investing: High School
The students are introduced to the key characteristics of a market economy through a brief simulation and a discussion of several examples drawn from their own experiences. Then they learn about differences among the three major s...
Grade: 6-8, 9-12

Lesson 10 - The Language of Financial Markets
Learning, Earning and Investing: High School
The students work in small groups to make flash cards to display terms commonly used in financial markets. The terms are grouped in five categories: Buying and Selling in the Market; Exchanges and Indexes; People in Financial Mark...
Grade: 6-8, 9-12

Lesson 11 - Financial Institutions in the U.S. Economy
Learning, Earning and Investing: High School
The students participate in a brief trading activity to illustrate the role institutions play in bringing savers and borrowers together, thus channeling savings to investment. The students discuss financial institutions, such as b...
Grade: 6-8, 9-12

Lesson 12 - Building Wealth over the Long Term
Learning, Earning and Investing: High School
The students are introduced to the case of Charlayne, a woman who becomes, accidentally, a millionaire. Charlayne's success, the students learn, was unexpected, but not a miracle. It can be explained by three widely understood rul...
Grade: 6-8, 9-12

Lesson 13 - Researching Companies
Learning, Earning and Investing: High School
The students apply an economic way of thinking to gathering information regarding securities. They learn that the cost of acquiring information must be compared to the anticipated benefit the information will provide. The students...
Grade: 6-8, 9-12

Lesson 14 - Credit: Your Best Friend or Your Worst Enemy?
Learning, Earning and Investing: High School
The students do an exercise that shows how credit can be their worst enemy. They learn how quickly credit card balances can grow and how long it can take to pay off a credit-card debt. They also learn that credit can be their best...
Grade: 6-8, 9-12

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 questio...
Grade: 6-8, 9-12

Lesson 16 - What We've Learned
Learning, Earning and Investing: High School
This lesson features a game in which the students review key vocabulary words and concepts presented in earlier lessons. The game is called Flyswatter Review. The teacher divides the class into two teams. Using transparencies, the...
Grade: 6-8, 9-12

Lesson 17 - How Financial Institutions Help Businesses Grow
Learning, Earning and Investing: High School
The students read two case studies about the financing of businesses, contrasting modern approaches with approaches from the 1870s. Using transparencies, the students discuss the advantages of the corporate form of business organi...
Grade: 6-8, 9-12

Lesson 18 - How Are Stock Prices Determined?
Learning, Earning and Investing: High School
The students participate in a stock market simulation that shows how the price of a share of stock is determined in a competitive market. Then they analyze what happened in the simulation to learn how stock prices are discovered t...
Grade: 6-8, 9-12

Lesson 19 - The Role of Government in Financial Markets
Learning, Earning and Investing: High School
The students read background information about why the U.S. government has become involved in the regulation of financial markets. Then they work in small groups on five hypothetical cases illustrating common violations in the fin...
Grade: 6-8, 9-12

Lesson 20 - The Stock Market and the Economy: Can You Forecast the Future?
Learning, Earning and Investing: High School
The students study a graph that illustrates the phases of a typical business cycle. They also examine how stock prices affect overall consumption and investment in the economy. After studying The Conference Board's 10 leading econ...
Grade: 6-8, 9-12

Lesson 21 - Lessons from History: Stock Market Crashes
Learning, Earning and Investing: High School
The students analyze information about the stock market crash of 1929 and the stock market crash of 1987. They use the information to make posters about the crashes, highlighting what happened during and after the crashes, causes ...
Grade: 6-8, 9-12

Lesson 22 - Investing Internationally: Currency Value Changes
Learning, Earning and Investing: High School
The students examine the costs and benefits of international investing. They study the case of an investor named Lizzy who buys shares in a European mutual fund. Lizzy is surprised to learn that, while her international investment...
Grade: 6-8, 9-12

Lesson 23 - Investing Involves Decision Making
Learning, Earning and Investing: High School
This lesson provides an overall review and an opportunity for students to apply many of the concepts stressed in earlier lessons. The students examine different sorts of risk that come with investments. They are introduced to a fi...
Grade: 6-8, 9-12

Section 1: Income and Choices
Your Credit Counts Challenge: Trainer's Guide
Participants will understand the importance of spending less than they receive. Participants will understand how competition based on productivity determines the wages and salaries that people receive. Participants will analyze ...
Grade: 9-12

Section 2: Financial Institutions
Your Credit Counts Challenge: Trainer's Guide
Participants identify the advantages and disadvantages of using financial services from alternative financial institutions and services from mainstream banks. Participants identify the services provided by mainstream financial in...
Grade: 9-12

Section 3: Managing Credit
Your Credit Counts Challenge: Trainer's Guide
Participants will identify the advantages and disadvantages of using credit. Participants will recognize what credit is, what it costs, and the basic steps involved in obtaining credit. Participants will identify the key feature...
Grade: 9-12

Section 4: A Roof Over Your Head
Your Credit Counts Challenge: Trainer's Guide
Participants will understand the benefits and drawbacks of homeownership. Participants will understand the process of buying a home, from before house-hunting to closing and occupancy. Participants will understand the risks of s...
Grade: 9-12

Section 5: Strategies for Wealth Building
Your Credit Counts Challenge: Trainer's Guide
Participants will understand the concept of net wealth and how the decisions they make can cause their own net wealth to increase or decrease. Participants will explain why an early start in saving and investing increases a house...
Grade: 9-12

Section 6: The Basics of a Market Economy
Your Credit Counts Challenge: Trainer's Guide
Participants will identify the characteristics of people who build wealth. Participants will recognize the primary features of a market economy including voluntary exchange, private ownership, a price system, the profit motive, c...
Grade: 9-12

Microeconomics Unit 1: Lesson 1 - The Economic Way of Thinking
Advanced Placement Economics: Teacher Resource Manual
Advanced Placement Economics has thousands of details that can confuse students. The students need a framework to organize these details. This lesson acquaints the students with basic economic concepts and methodology. It begins w...
Grade: 9-12

Microeconomics Unit 1: Lesson 2 - Scarcity, Opportunity Cost and Production Possibilities Curves
Advanced Placement Economics: Teacher Resource Manual
This lesson deals with opportunity cost, one of the most important concepts in economics. Start with a lecture on scarcity and production possibilities curves. Then reinforce the lecture by using Activity 2, which develops the cen...
Grade: 9-12

Microeconomics Unit 1: Lesson 3 - Absolute Advantage and Comparative Advantage, Specialization and Trade
Advanced Placement Economics: Teacher Resource Manual
Activity 6 introduces absolute advantage and comparative advantage. Although these concepts are covered in more detail in the international-trade unit in Macroeconomics, they explain economic activities intranationally as well. St...
Grade: 9-12

Microeconomics Unit 1: Lesson 4 - Practice in Applying Economic Reasoning
Advanced Placement Economics: Teacher Resource Manual
This lesson reinforces some of the economic-reasoning ideas that were introduced in Lesson 1. It provides practice in applying economic reasoning to a wide variety of conventional and unconventional situations. Activity 7 emphasiz...
Grade: 9-12

Microeconomics Unit 2: Lesson 1 - The Law of Demand
Advanced Placement Economics: Teacher Resource Manual
In this lesson, the students learn about the law of demand. They first learn that a demand curve is downward sloping and then analyze why it is downward sloping. Finally, they find out which factors other than the price of a produ...
Grade: 9-12

Microeconomics Unit 2: Lesson 2 - Understanding Supply
Advanced Placement Economics: Teacher Resource Manual
Prices are determined by demand and supply. This lesson examines the factors that affect supply; these factors are called the determinants of supply. The students should also understand the difference between changes in supply and...
Grade: 9-12

Microeconomics Unit 2: Lesson 3 - Equilibrium Price, Equilibrium Quantity and the Interrelation of Markets
Advanced Placement Economics: Teacher Resource Manual
The forces of supply and demand work to establish a price at which the quantity of goods and services people will buy is equal to the quantity suppliers will provide. Activity 14 illustrates this point. If supply or demand changes...
Grade: 9-12

Microeconomics Unit 2: Lesson 4 - Elasticity of Demand and Supply
Advanced Placement Economics: Teacher Resource Manual
Knowledge of price elasticity of demand and supply helps the students understand how businesses make pricing decisions and how governments make decisions on taxation. These exercises on elasticity become increasingly complex. To a...
Grade: 9-12

Microeconomics Unit 2: Lesson 5 - Price Ceilings and Floors
Advanced Placement Economics: Teacher Resource Manual
Legislators often have been dissatisfied with the outcomes of free markets. The invisible hand is not good enough for them, so they mandate prices that are lower or higher than the equilibrium price. A price ceiling is a legal max...
Grade: 9-12

Microeconomics Unit 2: Lesson 6 - Complex Application Questions in Supply and Demand
Advanced Placement Economics: Teacher Resource Manual
This lesson requires the students to apply price theory to a variety of situations. Learning the laws of economics is not enough. Problem solving concentrates the mind and forces the students to really understand an economic conce...
Grade: 9-12

Microeconomics Unit 3: Lesson 1 - An Introduction to Market Structure
Advanced Placement Economics: Teacher Resource Manual
This lesson introduces the students to the kinds of market structures they will be studying during the next several weeks. Because most actual markets do not fit the assumptions of the perfectly competitive market model, it is nec...
Grade: 9-12

Microeconomics Unit 3: Lesson 2 - The Costs of Production
Advanced Placement Economics: Teacher Resource Manual
This lesson helps the students understand the relationship between output and input and ultimately to understand several cost concepts. This lesson is critical if the students are to grasp what follows. Although there are four typ...
Grade: 9-12

Microeconomics Unit 3: Lesson 3 - Perfect Competition in the Short Run and the Long Run
Advanced Placement Economics: Teacher Resource Manual
This lesson is designed to help the students under-stand the profit-maximizing output of the perfectly competitive firm. Any firm maximizes profits by producing at the quantity where marginal revenue equals marginal cost. For a pe...
Grade: 9-12

Microeconomics Unit 3: Lesson 4 - The Monopoly Firm
Advanced Placement Economics: Teacher Resource Manual
In Lesson 3, the students learned why perfect competition leads to an optimum allocation of resources in the long run. They found that even though the perfect competitor's goal is to maximize profits, in the long run the perfect c...
Grade: 9-12

Microeconomics Unit 3: Lesson 5 - Regulating Monopoly: Antitrust Policy in the Real World
Advanced Placement Economics: Teacher Resource Manual
Because a monopoly produces an inefficient level of output, government often tries to regulate monopoly or break up a monopoly into several firms. Without using graphs, Activity 35 illustrates why unregulated monopolies have undes...
Grade: 9-12

Microeconomics Unit 3: Lesson 6 - Monopolistic Competition and Oligopoly
Advanced Placement Economics: Teacher Resource Manual
Perfect competition and monopoly give us some of the basic tools needed to understand how product price and output are determined. Although they simplify reality, perfect competition and monopoly identify conditions that affect co...
Grade: 9-12

Microeconomics Unit 3: Lesson 7 - Analyzing Market Structure
Advanced Placement Economics: Teacher Resource Manual
This lesson helps the students apply their knowledge of market structure to conventional and unconventional situations. Activity 42 can be assigned as homework or completed in groups. It is good practice for the complex applicatio...
Grade: 9-12

Microeconomics Unit 4: Lesson 1 - An Introduction to Factor Markets
Advanced Placement Economics: Teacher Resource Manual
Students can understand factor or resource markets better if they gain an overall perspective before getting into the details of marginal productivity theory. In this lesson, the students learn that a firm is both a seller in prod...
Grade: 9-12

Microeconomics Unit 4: Lesson 2 - How Resource Prices Are Determined: Marginal Productivity Theory
Advanced Placement Economics: Teacher Resource Manual
Marginal productivity theory is the heart of the factor market unit. Students must master the details of marginal productivity and complex terminology such as marginal physical product, marginal revenue product, marginal resource ...
Grade: 9-12

Microeconomics Unit 4: Lesson 3 - Competition vs. Monopsony: The Effects of Resource Market Structure on Wages and Employment
Advanced Placement Economics: Teacher Resource Manual
Until now, the students have studied only the perfectly competitive resource market. What happens if the resource market is not perfectly competitive? This lesson compares monopsony with perfect competition. To illustrate the diff...
Grade: 9-12

Microeconomics Unit 4: Lesson 4 - Economic Rent and Return for Other Factors of Production
Advanced Placement Economics: Teacher Resource Manual
The factor-market questions on the AP test will place the heaviest emphasis on labor markets because labor accounts for almost 75 percent of payments to factors of production. However, there also may be questions on payments to ot...
Grade: 9-12

Microeconomics Unit 4: Lesson 5 - Analyzing Factor-Market Concepts
Advanced Placement Economics: Teacher Resource Manual
This lesson helps the students to apply their knowledge of factor markets to conventional and unconventional situations. Activity 51 can be assigned as homework or completed in groups. It is good practice for the complex applicati...
Grade: 9-12

Microeconomics Unit 5: Lesson 1 - Public vs. Private Goods
Advanced Placement Economics: Teacher Resource Manual
In the United States, most economic decisions are made in the marketplace through the interaction of buyers and sellers. Some goods and services, however, can be provided only by government. The students should know the criteria t...
Grade: 9-12

Microeconomics Unit 5: Lesson 2 - When Markets Fail
Advanced Placement Economics: Teacher Resource Manual
Some government intervention in the economy is designed to remedy problems arising from third-party costs and benefits of private activities or transactions. Students who understand third-party effects, often called externalities,...
Grade: 9-12

Microeconomics Unit 5: Lesson 3 - When Government Fails
Advanced Placement Economics: Teacher Resource Manual
Lessons 1 and 2 stress the economic functions of government, with particular emphasis on market failures. This lesson deals with government failure and provides balance in evaluating the role of government. Throughout their educat...
Grade: 9-12

Microeconomics Unit 5: Lesson 4 - Efficiency, Equity and the Effects of Government Policies
Advanced Placement Economics: Teacher Resource Manual
Previous lessons have examined the role or size of government. This unit looks at the distribution of income and the effects of government policies to change it. The controversy weighs efficiency against equity. Markets work. In a...
Grade: 9-12

Macroeconomics Unit 1: Lesson 1 - Scarcity, Opportunity Cost, Production Possibilities and Comparative Advantage
Advanced Placement Economics: Teacher Resource Manual
This lesson uses the concept of opportunity cost to develop a production possibilities curve. The production possibilities curve represents the choices that society faces. Opportunity cost is a fundamental concept in economics and...
Grade: 9-12

Macroeconomics Unit 1: Lesson 2 - Demand
Advanced Placement Economics: Teacher Resource Manual
This lesson introduces the market system. Demand is half of a market and a demand schedule represents the quantities that people are willing and able to buy at alternative prices. The demand curve is a graphical representation of ...
Grade: 9-12

Macroeconomics Unit 1: Lesson 3 - Supply
Advanced Placement Economics: Teacher Resource Manual
Lesson 2 introduced demand. This lesson introduces supply, the other half of the market system. A supply schedule represents the quantities that firms are willing and able to supply at alternative prices. A supply curve is a graph...
Grade: 9-12

Macroeconomics Unit 1: Lesson 4 - Equilibrium Price and Quantity
Advanced Placement Economics: Teacher Resource Manual
In this lesson we bring the two sides of the market - demand and supply - together to determine the equilibrium price and quantity. The students should understand that unless there are forces operating to change supply or demand, ...
Grade: 9-12

Macroeconomics Unit 1: Lesson 5 - Elasticity
Advanced Placement Economics: Teacher Resource Manual
In many economic situations, producers and policy makers want to know more than simply the direction in which price or quantity will move. The law of demand tells producers that if price increases, the quantity demanded will decre...
Grade: 9-12

Macroeconomics Unit 2: Lesson 1 - Macroeconomics and the Circular Flow
Advanced Placement Economics: Teacher Resource Manual
This lesson defines macroeconomics, presents the important macroeconomic questions and explains the different sectors of a macroeconomic model of the economy. The circular flow model shows the household sector, the business sector...
Grade: 9-12

Macroeconomics Unit 2: Lesson 2 - Macroeconomic Goals and GDP
Advanced Placement Economics: Teacher Resource Manual
The goals of U.S. macroeconomic policy makers are captured in two laws: the Employment Act of 1946 and the Full Employment and Balanced Growth Act of 1978 (Humphrey-Hawkins Act). The 1946 law committed the federal government to ma...
Grade: 9-12

Macroeconomics Unit 2: Lesson 3 - Price Indexes and Inflation
Advanced Placement Economics: Teacher Resource Manual
At various points in the economic history of the United States, inflation has been a major economic problem. The high inflation rates of the late 1960s and 1970s led to the severe recession of the early 1980s. This experience has ...
Grade: 9-12

Macroeconomics Unit 2: Lesson 4 - Unemployment
Advanced Placement Economics: Teacher Resource Manual
Unemployment is always a major economic issue. Economic history seems to show that there is a short-run trade-off between inflation and unemployment. Understanding the types of unemployment is essential to analyzing unemployment r...
Grade: 9-12

Macroeconomics Unit 2: Lesson 5 - Business Cycles
Advanced Placement Economics: Teacher Resource Manual
The study and control of business cycles are the heart of macroeconomics. The discipline of macroeconomics started as business cycle theory. The business cycle is a problem because of the by-products of output fluctuations: unem...
Grade: 9-12

Macroeconomics Unit 3: Lesson 1 - Keynesian Model
Advanced Placement Economics: Teacher Resource Manual
This lesson establishes fundamental macro concepts. The Keynesian model is the simplest macro model and is the starting point from the national income accounting identity: GDP = C + I + G + NX. The lesson describes the equilibrium...
Grade: 9-12

Macroeconomics Unit 3: Lesson 2 - Investment
Advanced Placement Economics: Teacher Resource Manual
In the last lesson, the focus was on a simple Keynesian model of the economy and consumption. In this lesson, the determinants of investment - spending by businesses to replace or increase the capital stock - are described. In con...
Grade: 9-12

Macroeconomics Unit 3: Lesson 3 - Aggregate Demand
Advanced Placement Economics: Teacher Resource Manual
Aggregate demand represents the sum of consumption (C), investment (I), government expenditures (G) and net exports (NX). The quantity of real GDP demand is the total of all final goods and services that households, businesses, go...
Grade: 9-12

Macroeconomics Unit 3: Lesson 4 - Aggregate Supply
Advanced Placement Economics: Teacher Resource Manual
Aggregate supply is the quantity of output that firms are willing and able to produce for the economy. In the long run, the level of output depends on the capital stock, the labor force and the level of technology. In the short ru...
Grade: 9-12

Macroeconomics Unit 3: Lesson 5 - Short-Run Equilibrium
Advanced Placement Economics: Teacher Resource Manual
In this lesson, the focus is on the short-run equilibrium between aggregate supply and demand, on the changes in output and price level if aggregate supply or aggregate demand changes, and on the students' ability to explain corre...
Grade: 9-12

Macroeconomics Unit 3: Lesson 6 - Aggregate Supply and Aggregate Demand Analysis Continued
Advanced Placement Economics: Teacher Resource Manual
Manipulation of the aggregate demand and aggregate supply model continues in this lesson. In particular, the students will practice shifting each curve and explaining why the curve shifted. The lesson then explores how the economy...
Grade: 9-12

Macroeconomics Unit 3: Lesson 7 - The Long-Run Economy
Advanced Placement Economics: Teacher Resource Manual
The last lesson explored the movement of the economy from the short run to the long run. Here, we explore the long-run aggregate supply curve and its relationship with the economy's production possibilities curve, introduced in Un...
Grade: 9-12

Macroeconomics Unit 3: Lesson 8 - Fiscal Policy
Advanced Placement Economics: Teacher Resource Manual
Fiscal policy is one of the two demand management policies available to policy makers. Government expenditures and the level and type of taxes are discretionary fiscal policy tools. This lesson explores the effects of these tools ...
Grade: 9-12

Macroeconomics Unit 4: Lesson 1 - Money
Advanced Placement Economics: Teacher Resource Manual
The properties of money, the functions of money and the definitions of money are important concepts for the students to understand in the initial study of money. Money has existed for a long time, and a wide range of commodities h...
Grade: 9-12

Macroeconomics Unit 4: Lesson 2 - Equation of Exchange
Advanced Placement Economics: Teacher Resource Manual
This lesson describes and explains the relationship between the money supply and gross domestic product. The equation of exchange is an identity and provides an understanding of the relationship between money and economic activit...
Grade: 9-12

Macroeconomics Unit 4: Lesson 3 - Financial Intermediaries
Advanced Placement Economics: Teacher Resource Manual
Financial intermediaries act as the go-between borrowers and lenders. They take deposits from households and businesses and make loans to other households and businesses. Financial intermediaries include commercial banks, savings ...
Grade: 9-12

Macroeconomics Unit 4: Lesson 4 - The Federal Reserve System and Its Tools
Advanced Placement Economics: Teacher Resource Manual
The focus of this lesson is the Federal Reserve System: how its actions relate to the money creation process introduced in the last lesson and how its tools affect the money supply. The Federal Reserve System is the central bank...
Grade: 9-12

Macroeconomics Unit 4: Lesson 5 - The Money Market and Monetary Policy
Advanced Placement Economics: Teacher Resource Manual
In this lesson, the demand for and supply of money are brought together in the money market. The effects of the Federal Reserve System's monetary policy are integrated into the money market and then linked to aggregate demand. T...
Grade: 9-12

Macroeconomics Unit 4: Lesson 6 - Interest Rates and Monetary Policy in the Short Run and the Long Run
Advanced Placement Economics: Teacher Resource Manual
This lesson explores the relationship between the nominal interest rate and the real interest rate, the implications for monetary policy, and the short-run and long-run effects of monetary policy on real output and the price level...
Grade: 9-12

Macroeconomics Unit 5: Lesson 1 - Policy Lags and Crowding-Out Effect
Advanced Placement Economics: Teacher Resource Manual
This lesson discusses the lags associated with monetary and fiscal policy making and analyzes the direct and indirect effects of government budget deficits. The direct effect of these deficits is an increase in interest rates. Whe...
Grade: 9-12

Macroeconomics Unit 5: Lesson 2 - Monetary and Fiscal Policy Interact
Advanced Placement Economics: Teacher Resource Manual
This lesson continues an examination of the interaction between monetary and fiscal policy in the short run. It examines the impact of monetary and fiscal policy on output, the price level, unemployment, interest rates and investm...
Grade: 9-12

Macroeconomics Unit 5: Lesson 3 - Phillips Curve and Stabilization Policy
Advanced Placement Economics: Teacher Resource Manual
The Phillips curve is an empirical relationship found by A.W. Phillips that shows the relationship between the unemployment rate and the rate at which wages change. He discovered that changes in wages were inversely related to the...
Grade: 9-12

Macroeconomics Unit 5: Lesson 4 - Economic Growth
Advanced Placement Economics: Teacher Resource Manual
In this lesson, the students learn the main sources of long-term economic or real GDP growth and the policies that governments might use to increase economic growth. The students should be aware that there is a difference between ...
Grade: 9-12

Macroeconomics Unit 5: Lesson 5 - Macroeconomic Theories
Advanced Placement Economics: Teacher Resource Manual
Listening to and reading analysis of the various policy proposals can confuse students who are learning economics for the first time. Here the current issues and sources of disagreement among economists should be presented. The st...
Grade: 9-12

Macroeconomics Unit 6: Lesson 1 - International Trade
Advanced Placement Economics: Teacher Resource Manual
This lesson includes a review of comparative advantage and production possibilities curves. It then expands the concepts of specialization and trade to show the gains from international trade. Activity 49 gives the students practi...
Grade: 9-12

Macroeconomics Unit 6: Lesson 2 - Government Intervention in International Trade
Advanced Placement Economics: Teacher Resource Manual
The last lesson demonstrated the benefits of trade among nations, showing that total output increased. Nevertheless, most nations attempt to create barriers to trade using tariffs, quotas or regulations. Trade barriers limit the g...
Grade: 9-12

Macroeconomics Unit 6: Lesson 3 - International Finance
Advanced Placement Economics: Teacher Resource Manual
International trade and the methods of limiting trade are extremely important to understanding much of the current discussions about the World Trade Organization (WTO) and the North American Free Trade Agreement (NAFTA). This less...
Grade: 9-12

Macroeconomics Unit 6: Lesson 4 - Monetary and Fiscal Policy in a Global Economy
Advanced Placement Economics: Teacher Resource Manual
This lesson combines the knowledge of monetary and fiscal policy and the economy developed in Units 3 through 5 with the knowledge of international finance. It explains and analyzes the impact of domestic policy on the foreign exc...
Grade: 9-12

Lesson 1: Markets and the Market System
Focus: Institutions and Markets
This lesson introduces students to the primary economic institution in a market economy, markets. As described in the introductory essay to this volume, markets are an institution that emerges spontaneously from the interaction o...
Grade: 9-12

Lesson 2: Property Rights and Contracts as Economic Institutions
Focus: Institutions and Markets
Students consider the importance of a system of defining, recording and protecting property rights in a market-based economy. Students differentiate between private and communal property, they consider various methods for recordi...
Grade: 9-12

Lesson 3: Business Organizations
Focus: Institutions and Markets
Students first look at a list of business names and discuss what the various abbreviations that are often used as part of businesses' names mean. In a reading, students learn about three types of business organizations - sole p...
Grade: 9-12

Lesson 4: Financial Systems
Focus: Institutions and Markets
Students participate in a brief simulation to demonstrate the important role financial intermediaries play in promoting investment and economic growth in market economies. Through direct instruction, students learn some specializ...
Grade: 9-12

Lesson 5: Maintaining Competition
Focus: Institutions and Markets
This lesson introduces the rationale for maintaining and strengthening competition, and illustrates the U.S. experience with antitrust laws and other government regulations and agencies. But there are costs and limits to the scop...
Grade: 9-12

Lesson 6: Too Much Regulation?
Focus: Institutions and Markets
In this lesson, students first read an excerpt from The Jungle, written by Upton Sinclair in 1906. Then they learn about the numerous regulations that govern the production and sales of a hamburger today, and about some governmen...
Grade: 9-12

Lesson 7: Public Goods and Externalities
Focus: Institutions and Markets
This lesson gives students an opportunity to identify the nature of public and private goods, classify them according to the characteristics of rivalry and excludability, experience the impact of free riders and other external ben...
Grade: 9-12

Lesson 8: The Scope and Size of Government, and Other Institutions That Affect Economic Freedom
Focus: Institutions and Markets
Students compare U.S. federal government expenditures for two distinct periods spanning 40 years, and note changes in the levels and kinds of spending. The budget relationship between government spending, taxing, and borrowing i...
Grade: 9-12

Lesson 9: The Distribution of Income and Investments in Human Capital
Focus: Institutions and Markets
This lesson introduces students to some key facts about the distribution of income in the United States, and provides some information and tools for analyzing changes in the distribution of income over the last three decades. Stud...
Grade: 9-12

Lesson 10: Macroeconomic Stabilization Policies and Institutions
Focus: Institutions and Markets
This lesson begins by reviewing the discovery and adoption of Keynesian fiscal policies in the United States and other nations following World War II. Students then participate in several exercises to ascertain their understandin...
Grade: 9-12

Lesson 11: "Hey, Hey! Ho, Ho! Why Do We Need the WTO?"
Focus: Institutions and Markets
Several activities are used to introduce students to six international institutions that play important economic roles, especially in the areas of international trade, finance, and development: the World Trade Organization (WTO),...
Grade: 9-12

Lesson 12: Social Capital: Norms and Networks That Support Markets
Focus: Institutions and Markets
Students are introduced to the idea of "social capital," and learn how to distinguish it from physical capital. The importance of social capital in promoting economic growth and allowing a market economy to operate more efficient...
Grade: 9-12

Lesson 1 - Old MacDonald Went to Trade
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
Students sing the familiar tune, "Old MacDonald Had a Farm." They identify goods on the farm and suggest services that Farmer MacDonald might have provided or wanted. Acting as farmers, they write two new verses for their farm. ...
Grade: K-2

Lesson 2 - Goods and Services: Some Are Private, Some Are Not
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
Students make construction paper cutouts of businesses and structures and create a community map bulletin board. Students analyze the goods and services available in their community to determine that some are privately produced a...
Grade: 3-5, 6-8

Lesson 3 - Productivity in the Fertile Crescent
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
In this lesson, students participate in three rounds of a simulation in which they are merchants who must keep written records on their trades. In Round 1 they do not have some required skills or knowledge and are unable to produ...
Grade: 6-8, 9-12

Lesson 4 - Uncle Sam's Checkbook
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
Students learn about the components of federal income taxes and expenditures. They also create and analyze political cartoons relevant to federal taxes and expenditures.
Grade: 6-8, 9-12

Lesson 5 - Scarcity and Choice
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
In this lesson, students participate in a role play as producers of two goods, allowing students to experience scarcity. They make choices about using their scarce resource to produce both or one of two goods. Then they construc...
Grade: 9-12

Lesson 6 - Public Goods and Services
Old MacDonald to Uncle Sam: Lesson Plans from Writers around the World
Students compare and define private and public goods. They receive money and must make a decision about paying for the heating in the classroom. This activity reinforces the concept of public goods and helps students identify an...
Grade: 6-8, 9-12

Unit 1: Lesson 1 - Economic Reasoning: Why Are We A Nation of Couch Potatoes?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine visuals to identify an economic mystery regarding exercise and diet. They use the Guide to Economic Reasoning to analyze the costs and benefits of decisions about diet and exercise. They discover that human beha...
Grade: 9-12

Unit 1: Lesson 2 - Scarcity and Abundance
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
The lesson provides students with two definitions of the term scarcity. They apply these definitions to several examples of human behavior. In the second part of the lesson they use the definitions to explain why people may trea...
Grade: 9-12

Unit 1: Lesson 3 - Economic Magic: Creating Something from Nothing
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students participate in a small-group survival activity designed to illustrate the basic economic decisions people in every economy must address. They must decide which resources are scarce and they must answer three basic questi...
Grade: 9-12

Unit 1: Lesson 4 - To Choose or Not to Choose? That Is Not the Question
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students make a decision after identifying the alternatives and their anticipated costs and benefits.
Grade: 9-12

Unit 1: Lesson 5 - Rules Influence Economic Behavior
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
The lesson begins with a demonstration of how rules and incentives influence students' behavior in the classroom. Then students apply the same analysis to behavior in the larger economy. (WARNING: Given the unusual grading proc...
Grade: 9-12

Unit 2: Lesson 6 - Why Did Communism Collapse?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine and discuss visuals to solve an economic mystery regarding the command system of the Soviet Union.
Grade: 9-12

Unit 2: Lesson 7 - A Silver Market
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students participate in a simulation activity that shows how a competitive market works. Although most markets for goods and services are not as competitive as the silver commodity market, the example helps students gain an under...
Grade: 9-12

Unit 2: Lesson 8 - A Picture Is Worth a Thousand Words: Demand
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson asks students to analyze the relationship between changing prices and changes in consumer behavior, to create and understand the demand schedule graph, and to identify how various determinants of demand change the rela...
Grade: 9-12

Unit 2: Lesson 9 - A Picture Is Worth a Thousand Words: Supply
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students analyze the relationship between changing prices and changes in producer behavior. They create a supply schedule graph to represent this relationship. They observe changes in determinants of supply and note the effect o...
Grade: 9-12

Unit 2: Lesson 10 - Equilibrium Prices and Equilibrium Quantities
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
In examining a visual about the market for yo-yos, students think through the process of mutual accommodation among buyers and sellers that results in an equilibrium price. Students then complete an activity plotting supply and d...
Grade: 9-12

Unit 2: Lesson 11 - Do Prices Matter to Consumers?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson demonstrates how people use prices when they weight expected costs and expected benefits in making economic decisions. It helps students see how choosing a second-best good or service can in some cases improve their o...
Grade: 9-12

Unit 2: Lesson 12 - How Do Prices Influence My Behavior? Price Elasticity
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students review consumer and producer behavior in light of changing prices. They predict consumers' and producers' responses to changes in prices, product characteristics, costs of production, time and technology factors.
Grade: 9-12

Unit 2: Lesson 13 - How Markets Allocate Resources
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students read I, Pencil, by Leonard Read, to gain an understanding of Adam Smith's concept of the invisible hand of the marketplace. Students see that a system of market prices brings about cooperation without coercion. Then stu...
Grade: 9-12

Unit 2: Lesson 14 - Secondary Effects: Price Ceilings and Floors
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students investigate the consequences of price controls in markets for silver, rock concerts, automobiles, razor clams, and school textbooks. (It would be best to use this lesson after students have participated in the silver mark...
Grade: 9-12

Unit 3: Lesson 15 - Why Do Some People Earn More Than Others?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine and discuss visuals to identify an economic mystery regarding differences in income. They use the Guide to Economic Reasoning to analyze the problem and reach a tentative solution.
Grade: 9-12

Unit 3: Lesson 16 - Making Choices About Saving and Investing
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson introduces the distinction between savings and the investment. It demonstrates how the price of money --the interest rate--is critical to making the right savings and investment choices. It explains when, under vario...
Grade: 9-12

Unit 3: Lesson 17 - Creating and Using a Budget
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson focuses on using budgeting to maximize consumer satisfaction. It describes a flexible view of budgets, linking them to markets and market information, and demonstrates how and why budgets should be reviewed and modifi...
Grade: 9-12

Unit 3: Lesson 18 - Credit Management
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson is designed to help students make good consumer-credit decisions. Although using credit is beneficial at times, it often carries higher costs than many people realize. This lesson discusses the costs of credit in a m...
Grade: 9-12

Unit 3: Lesson 19 - Earning an Income
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine the concept of income. They identify factors that generate in come, including entrepreneurial traits and changing conditions in labor markets. In learning how income is generated, students plan and make choices ...
Grade: 9-12

Unit 4: Lesson 20 - Why Helping Yourself Helps Others
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine and discuss visuals to identify an economic mystery regarding greed and self-interest. They use economic reasoning to analyze the mystery and reach a tentative explanation.
Grade: 9-12

Unit 4: Lesson 21 - Productivity, Diminishing Marginal Returns, and the Demand for Labor
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students produce greeting cards with a fixed number of scissors and markers, and a variable number of workers. They discuss factors affecting workers productivity and the law of diminishing marginal returns. With a partner, they...
Grade: 9-12

Unit 4: Lesson 22 - How Competitive Is the Industry?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Using a local example, students discuss the benefits of competition. In small groups they read descriptions of the markets for cucumbers, haircuts, cereal, and diamonds (prior to 2000). They use this information to fill in a cha...
Grade: 9-12

Unit 4: Lesson 23 - Make a Profit: Do the Math
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Working as consultant teams, students use basic math to compute fixed costs, total costs, marginal costs, total revenues, marginal revenues, and profits (or losses) for a business. They determine the profit-maximizing quantity of...
Grade: 9-12

Unit 5: Lesson 24 - Government and the Environment
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine and discuss visuals to identify an economic mystery regarding the failure of the Endangered Species Act. They are introduced to the concepts of market failure and government failure. Using the Guide to Economic ...
Grade: 9-12

Unit 5: Lesson 25 - The Economics of the U.S. Constitution
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students discuss why the American economy grew in the period following the American Revolution. After reading an essay by Douglass North and examining the U.S. Constitution, they identify the economic features of the Constitution...
Grade: 9-12

Unit 5: Lesson 26 - Public versus Private Goods
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students discuss the role of government in the economy. They complete an activity in which they classify goods and services as public or private.
Grade: 9-12

Unit 5: Lesson 27 - The Economics of Special Interest Groups
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students learn about the diverse nature of special interest groups and read examples that show how incentives influence the actions of elected officials.
Grade: 9-12

Unit 5: Lesson 28 - The Economics of Voting
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine a visual to identify patterns of voter turnout in U.S. presidential elections. They analyze the costs and benefits of voting and discuss how people's voting behavior is influenced by incentives.
Grade: 9-12

Unit 5: Lesson 29 - Can Taxes Be Incentives?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine different types of taxes and criteria for determining a fair tax. Students work in pairs to predict how changes in taxes will change people's behavior.
Grade: 9-12

Unit 5: Lesson 30 - Poverty and Income Inequality
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students take part in an activity that simulates the unequal distribution of income in the United States, based on U.S. Census data. They discuss how equal distribution of income would affect incentives to work hard, especially f...
Grade: 9-12

Unit 6: Lesson 31 - Measuring Unemployment: A Labor Market Mystery
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine an economic mystery regarding employment and unemployment statistics. They learn how the Bureau of Labor Statistics measures employment and unemployment. They use the Guide to Economic Reasoning and some arithme...
Grade: 9-12

Unit 6: Lesson 32 - The Effects of Inflation
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine recent inflation rates in the United States and discuss the interpretation of inflation rates. They read about the inflation-related experiences of teachers in the former Soviet Union and Eastern Europe and use t...
Grade: 9-12

Unit 6: Lesson 33 - Gross Domestic Product (GDP) and How to Measure It
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine GDP. They distinguish between nominal and real GDP. They study how GDP is comprised of household spending on consumption goods and services (C), business investment spending (I), government spending on goods and...
Grade: 9-12

Unit 6: Lesson 34 - Money and Monetary Policy
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
The concept of money creation by banks is often not intuitive for students, but it is important to their understanding of the role of the Federal Reserve. In this lesson, students first discuss money, its functions, and why the m...
Grade: 9-12

Unit 6: Lesson 35 - Fiscal Policy: A Two-Act Play
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Groups of students are given outlines for one of two acts in a play describing either expansionary or contractionary fiscal policy. After choosing parts and preparing lines for their roles, two groups are chosen to perform the pl...
Grade: 9-12

Unit 6: Lesson 36 - Should We Worry About the National Debt?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students discuss the size of the current national debt and what this means. A class discussion covers the causes of the debt, how it is financed, definitions of a budget deficit and budget surplus, and the difference between a bu...
Grade: 9-12

Unit 6: Lesson 37 - Can Government Manage the National Economy?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Although economists agree much more often than they disagree, the opinions of prominent economists on economic policy often conflict. This lesson seeks to clarify why economists disagree. Understanding the reasons for disagreeme...
Grade: 9-12

Unit 6: Lesson 38 - Aggregate Demand and Aggregate Supply
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students build their understanding of aggregate demand and aggregate supply. They use their new skills to analyze the effects of events and government monetary and fiscal policies on inflation, unemployment, and economic growth. ...
Grade: 9-12

Unit 7: Lesson 39 - Why Go Global?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students examine an economic mystery regarding the importance of U.S. participation in the global economy. They participate in a demonstration regarding imported clothing. They use the Guide to Economic Reasoning to explain that...
Grade: 9-12

Unit 7: Lesson 40 - Why Do People Trade Across National Borders?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
This lesson involves students in a trading simulation that grows in complexity. Students use this experience to investigate the consequences of voluntary trade among individuals in increasingly larger groups.
Grade: 9-12

Unit 7: Lesson 41 - Why People Trade: Comparative Advantage
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
The students decide why people buy foreign goods, and they practice measuring the comparative advantage of different producers.
Grade: 9-12

Unit 7: Lesson 42 - Foreign Currencies and Foreign Exchange
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students participate in a simulated foreign exchange market. The exercise provides an opportunity for students to use supply and demand analysis to explain how flexible exchange rates are established in currency markets.
Grade: 9-12

Unit 7: Lesson 43 - Why Are Some Nations Wealthy?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students work in groups to examine data from several nations regarding size, natural resources, and population. Using these data, they try to identify the nations and predict whether each nation is rich or poor. Students rank th...
Grade: 9-12

Unit 7: Lesson 44 - World Environmental Issues: Is the Market at Fault?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Students study for short case studies. They identify similarities and differences across these five case studies. After noting this information, they assess several environmental policy solutions. They must decide which policie...
Grade: 9-12

Unit 7: Lesson 45 - International Trade: How Do We Measure Trades Across Political Borders?
Capstone: Exemplary Lessons for High School Economics - Teacher's Guide
Many popular misconceptions evolve from reading balance of payments reports. Newspaper stories warn us of the perils of a deficit in the U.S. trade balance and a surplus in the Chinese trade balance of payments reports and help t...
Grade: 9-12

Lesson 1 - Why People Trade
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students participate in a trading simulation and use this experience to discover the benefits of free trade. In a class discussion, they relate the simulation to concepts of regional versus universal trade, trade barriers and dim...
Grade: 9-12

Lesson 2 - Economic Decision Making
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students brainstorm ways to allocate a scarce good within the classroom. Then they work with a decision-making model that helps them make a decision about this allocation by showing them how to evaluate the merits of each alterna...
Grade: 9-12

Lesson 3 - Using Economic Reasoning To Solve Mysteries
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students ponder an economic mystery: Why do professional athletes, many of whom never finish college, earn far higher salaries than people who perform worthy services such as teachers and firefighters? The students discuss vario...
Grade: 9-12

Lesson 4 - Property Rights in a Market Economy
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students discuss private property, free enterprise, self-interest, competition, a system of markets and prices, and limited government as characteristics of market economies. They participate in or observe an activity demonstrati...
Grade: 9-12

Lesson 5 - The Role of Government In a Market Economy
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students brainstorm suggestions about which functions government should perform in a market economy and compare their suggestions with categories economists frequently use. They participate in a quiz activity that shows the charac...
Grade: 9-12

Lesson 6 - The Economic Way of Thinking: Three Activities to Demonstrate Marginal Analysis
Economics in Action: 14 Greatest Hits for Teaching High School Economics
This lesson consists of three activities that demonstrate different applications of marginal analysis. You may use the activities separately or do them together in one class period. In the first activity, the students produce a go...
Grade: 9-12

Lesson 7 - A Market in Wheat
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students participate as buyers or sellers in a simulation that shows how a competitive market works. They determine individual profits or losses from market transactions. They use data from the simulation to plot and interpret a g...
Grade: 9-12

Lesson 8 - Productivity
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Working in small groups, the students participate in a production simulation to determine the effects of specialization on labor productivity, the division of labor, and investment in human capital and capital goods.
Grade: 9-12

Lesson 9 - The Invention Convention
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Working in small groups, the students simulate firms creating and producing new products. Using budget guidelines, they must decide which inputs they will purchase. They calculate their costs of production and then display their p...
Grade: 9-12

Lesson 10 - The Circular Flow of Economic Activity
Economics in Action: 14 Greatest Hits for Teaching High School Economics
In this lesson, the students read about market interactions and participate in a simulation. "Econoland" involves transactions between businesses and households in two kinds of markets: product markets and resource (or input) mar...
Grade: 9-12

Lesson 11 - Money and Inflation
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students observe a simple demonstration to determine the functions that money performs. They next participate in two rounds of an auction illustrating how increases in the money supply lead to inflation. They view an active demons...
Grade: 9-12

Lesson 12 - Fiscal Policy: A Two-Act Play
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Groups of students are given outlines for one of two acts in a play describing either expansionary or contractionary fiscal policy. After the students choose parts and prepare lines for their roles, two groups are chosen to perfor...
Grade: 9-12

Lesson 13 - Comparative Advantage and Trade in a Global Economy
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students observe or participate in a role-play situation in which one person is better at both of two activities. They complete a work sheet that leads to the conclusion that specialization and exchange make both people better off...
Grade: 9-12

Lesson 14 - Exchange Rates: Money Around the World
Economics in Action: 14 Greatest Hits for Teaching High School Economics
Students participate in two auctions to demonstrate the determination of flexible exchange rates and the need for foreign currency to purchase goods from other countries. In the first auction, the students may buy goods produced o...
Grade: 9-12

Lesson 1: There's Never Enough
The Wide World of Trade
Working in groups that represent countries, students randomly draw cards from boxes labeled natural resources, human resources, and capital goods. The groups use their available resources to provide for their citizens by satisfyi...
Grade: 6-8

Lesson 2: Special Friends
The Wide World of Trade
Pairs of students play the roles of two friends who have chores to complete before they can spend time together. Through trial-and-error, students discover the benefits of specialization and trade. A second activity identifies r...
Grade: 6-8

Lesson 3: Everyone Is Interdependent
The Wide World of Trade
In this lesson, students learn about resources from around the world that are used in the production of a specific product -- Hershey's Kisses. Students then determine the identity of a mystery product using clues about world res...
Grade: 6-8

Lesson 4: Resources and Trade
The Wide World of Trade
Student groups represent people in different countries. Each group receives a packet of materials that represents productive resources. People in each country use the resources to provide food, clothing, shelter, businesses, and...
Grade: 6-8

Lesson 5: Mystery Almanac
The Wide World of Trade
Working in groups, students participate in an activity to identify countries from around the world. Based on what they learn about these countries, students complete an Information Resources Chart. The goal is to have students r...
Grade: 6-8

Lesson 6: Trading Connections
The Wide World of Trade
Students participate in a simulation to learn how trade benefits them as individuals and how trade benefits people in different regions and countries. Working in pairs, students learn about the major import and export partners fo...
Grade: 6-8

Lesson 7: Mutual (and Comparative) Advantages
The Wide World of Trade
Using numerical examples and bar graphs, students see why it benefits two countries to specialize in the production of one of two products and then trade with each other, even if one country has the resources and technology to pro...
Grade: 6-8

Lesson 8: Something's in the Way
The Wide World of Trade
The class is divided into two groups that participate in a simulation making two types of postcards. In the first round, each group specializes and then considers possible results from trading for the postcard it didn't produce. ...
Grade: 6-8

Lesson 9: Why Restrict Trade?
The Wide World of Trade
Students learn some things about steel and identify a variety of products that are produced with steel. They participate in an activity to help them analyze the costs and benefits of a tariff. Students learn about special-intere...
Grade: 6-8

Lesson 10: Why Trade Money?
The Wide World of Trade
In this lesson, students imagine a visit to the Mall of the World, a large international mall with shops that are owned and operated by people in other countries. Students choose items to eat at the Wide World of Taste, an intern...
Grade: 6-8

Lesson 11: Why Are There Foreign Currency Markets?
The Wide World of Trade
After listing some of their own buying and selling activities, students recognize that most people and families are both buyers and sellers who make exchanges in different kinds of markets. The relationship between output markets...
Grade: 6-8

Lesson 1: From Boxes to Sheep
Resources A to Z
Productive resources are the natural resources, human resources, and capital goods (capital resources) available to make goods and services. In this lesson, students participate in two group activities that involve distinguishing...
Grade: K-2, 3-5

Lesson 2: Pyramids in Production
Resources A to Z
The Egyptians built pyramids for their rulers with four sloping outside walls shaped like triangles. These structures were tombs and could take twenty or more years to build. Workers used sleds, wooden rollers, and levers to mov...
Grade: K-2, 3-5

Lesson 3: Porridge from an Ax
Resources A to Z
In this lesson, students learn about natural, human, and capital resources, as well as ingredients (intermediate goods). They classify various resources and ingredients. Students listen to a Kyrgyz folk tale, learn about the res...
Grade: K-2, 3-5

Lesson 4: Entrepreneurs Exist Everywhere
Resources A to Z
Students consider how many goods and services were created to make their lives better. This lesson examines the role of inventions, innovations, and entrepreneurs in our economy. Working in groups, students engage in problem sol...
Grade: K-2, 3-5

Lesson 5: Dacian Masks
Resources A to Z
After learning about the Dacians who lived about 2000 years ago in the area now known as Romania, students make ancient Dacian masks. Students classify the different productive resources used to produce masks as natural resources...
Grade: K-2, 3-5

Lesson 6: Work Pays
Resources A to Z
Discussing parent jobs and reading a story help students learn about human resources. Students work at home and produce goods and services by helping their families. They receive beans from the teacher as income for their work. ...
Grade: K-2, 3-5

Lesson 1 - Happy Deal?
Mathematics & Economics: Connections for Life - 6-8
In this lesson, the students learn about currencies used in selected countries. They compare the prices of a Big Mac© in different countries and convert the prices into U.S. dollars, using exchange rates. The students determi...
Grade: 6-8

Lesson 2 - Vacation Vexation
Mathematics & Economics: Connections for Life - 6-8
In this lesson, the students listen to the story of an American girl who is planning a trip to Mexico. They learn about foreign exchange and compare exchange rates to determine if one currency has appreciated or depreciated agains...
Grade: 6-8

Lesson 3 - Baby-sitting Wages and Movie Prices
Mathematics & Economics: Connections for Life - 6-8
Through an analysis of data for baby-sitting wages (a price for labor) and the price of movie tickets since 1945, this lesson introduces the students to the idea that prices for goods, services, and resources change over time. The...
Grade: 6-8

Lesson 4 - Constructing and Using a Consumer Price Index
Mathematics & Economics: Connections for Life - 6-8
In this lesson, the students look at data for baby-sitting wages (a price for labor) and the price of movie tickets over time. They learn about the Consumer Price Index and how to construct a price index. They learn how a price in...
Grade: 6-8

Lesson 5 - Why Is Everyone so Crazy About Cell Phones?
Mathematics & Economics: Connections for Life - 6-8
This lesson is designed to introduce students to the benefits of competition utilizing proportions to compare different rates. The students will explore the market for cell phones in two activities. In activity one, the students a...
Grade: 6-8

Lesson 6 - How Much is That Bike?
Mathematics & Economics: Connections for Life - 6-8
This lesson demonstrates the utility of percentages in comparing fractions of unequal size; it also provides students with practice in using percent to calculate simple interest. Students are introduced to the idea of buying on cr...
Grade: 6-8

Lesson 7 - Which Pet is Right for You?
Mathematics & Economics: Connections for Life - 6-8
This lesson focuses on a topic that is at the heart of economics, that of decision making. Decision making from an economic perspective requires individuals to consider both the benefits and costs for each alternative. Human natur...
Grade: 6-8

Lesson 8 - Could You Earn a Million Dollars?
Mathematics & Economics: Connections for Life - 6-8
This lesson is designed to acquaint students with the relationship between earnings and education. The data are very clear regarding one's earning potential and educational attainment. That is, the more education an individual has...
Grade: 6-8

Lesson 9 - Deserted Island
Mathematics & Economics: Connections for Life - 6-8
This lesson is designed to introduce students to the idea that not all skills are valued equally in the marketplace. The students will explore these differences using their mathematics skills to create box and whisker plots. They ...
Grade: 6-8

Lesson 10 - Where Does the Price of Pizza Come From? Part 1
Mathematics & Economics: Connections for Life - 6-8
This lesson challenges students to identify the source of market prices. The students will complete a series of activities that represent supply and demand. In Activity 10.1, the students are asked to plot points, connect the poin...
Grade: 6-8

Lesson 11 - Where Does the Price of Pizza Come From? Part 2
Mathematics & Economics: Connections for Life - 6-8
In this lesson students continue to examine where prices come from (see Lesson 10), applying the concepts of supply, demand, and equilibrium. Students will examine changes within a market for pizza utilizing linear equations as th...
Grade: 6-8

Lesson 12 - Charting a Budget
Mathematics & Economics: Connections for Life - 6-8
In this lesson, students learn what a budget is. They construct a pie chart to show the distribution of expenses in a budget. They learn about payroll deductions and determine the impact that payroll deductions have on a budget. F...
Grade: 6-8

Unit 1: Lesson 1 - Exchanging Goods and Services
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Through a barter activity, students experience barter as a means of exchange; the activity shows students that they are participants in the economy.
Grade: 6-8

Unit 1: Lesson 2 - You in the Economy
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students participate in a consumer-testing activity to learn that they weight costs and benefits when they make economic decisions.
Grade: 6-8

Unit 1: Lesson 3 - People Use Their Human Capital
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students take inventory of their own human capital and learn the necessity for acquiring skills and knowledge.
Grade: 6-8

Unit 1: Lesson 4 - I am Part of the Economy
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Through case study and discussion, students explore the human capital needed in a job. In an extension activity involving use of the Internet, students are introduced to youth employment.
Grade: 6-8

Unit 1: Lesson 5 - Economic Choice and Opportunity Cost
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Through a reading, students learn how scarcity makes choices necessary and results in opportunity cost.
Grade: 6-8

Unit 2: Lesson 6 - Choices Have Benefits and Costs
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
In a simulation, "What's in the Box?" students examine the benefits and costs of alternative choices.
Grade: 6-8

Unit 2: Lesson 7 - My Choices Are Based on My Preferences
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Participating in a forced-choice scarcity activity, students learn that choices are based on preferences.
Grade: 6-8

Unit 2: Lesson 8 - Ways to Make Choices
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students are introduced to six methods for making choices and decide in small groups the most appropriate way(s) to make certain choices.
Grade: 6-8

Unit 2: Lesson 9 - My Choices Affect Others
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Creating a chain-of-events diagram, students learn how the choices made by one person can affect other people.
Grade: 6-8

Unit 2: Lesson 10 - Choices Make a Difference: Worker Interviews
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students interview adults about their work and consumer choices.
Grade: 6-8

Unit 3: Lesson 11 - Choices Have Consequences
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
In a paired writing activity, students identify potential actions and outcomes from brief life situations, and they learn that choices have consequences.
Grade: 6-8

Unit 3: Lesson 12 - Long- and Short-Term Consequences
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
With information from a guest speaker, students analyze the short- and long-term consequences of dropping out of, or graduating, from high school. Students conduct an Internet search to find and graph the most recent data on earn...
Grade: 6-8

Unit 3: Lesson 13 - What Influences My Choices?
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students conduct paired interviews to learn what kinds of influences affect their choices.
Grade: 6-8

Unit 3: Lesson 14 - Choices Made by Others Affect Me
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Reading and analyzing a dilemma, students learn to recognize how other people's choices can affect them. Students respond to a series of events, indicating how they may or may not have been affected.
Grade: 6-8

Unit 3: Lesson 15 - I Can Make Good Choices
Choices and Changes: In Life, School, and Work- Grades 7-8 - Teacher's Resource Manual
Students prepare and present their final projects, advertisements to influence students to graduate from high school.
Grade: 6-8

Unit 1: Lesson 1 - Making Choices
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Students are introduced to the nature of choice making by confronting thorny problems individually and in groups.
Grade: 9-12

Unit 1: Lesson 2 - Choosing Among Alternatives
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Benefits and costs are defined and students use benefit/cost analysis to arrive at a group decision.
Grade: 9-12

Unit 1: Lesson 3 - Choices: Benefits and Costs
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
In a family-type role-playing, students decided what to do with a $500 windfall.
Grade: 9-12

Unit 1: Lesson 4 - What Influences Choices?
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Given a hypothetical situation, students explore positive and negative incentives of making specific choices.
Grade: 9-12

Unit 1: Lesson 5 - Which Job Would You Choose?
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Given several job alternatives, students explore positive and negative incentives.
Grade: 9-12

Unit 2: Lesson 6 - Changing Productivity
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
In a production simulation, students experience several ways of producing something; they also measure productivity.
Grade: 9-12

Unit 2: Lesson 7 - Human Capital and Productivity
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
In a math demonstration, students demonstrate how capital resources and improvements in human capital can increase productivity.
Grade: 9-12

Unit 2: Lesson 8 - My Human Capital
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Through a self-assessment, students explore knowledge and skills as important dimensions of human capital.
Grade: 9-12

Unit 2: Lesson 9 - What Employers Want
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
In a job interview role-playing activity, students learn about criteria employers use in deciding to hire employees.
Grade: 9-12

Unit 2: Lesson 10 - What Do Want Ads Mean?
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Through an analysis of help-wanted ads, students explore ways in which they can develop transferable skills and examine entry-level job skill requirements.
Grade: 9-12

Unit 3: Lesson 11 - My Personal Timeline
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
In preparation for thinking about a preferred future, students create their personal timelines.
Grade: 9-12

Unit 3: Lesson 12 - Planning to Choose
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Through a case study and Internet search, students explore changes in the job market. They also explore changes in the job market. They also explore the nature of entrepreneurship.
Grade: 9-12

Unit 3: Lesson 13 - My Human Capital: A Job Application
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Following a study of two realistic dilemmas, students complete a resume and assess their own qualifications for actual jobs.
Grade: 9-12

Unit 3: Lesson 14 - A Preferred Future: Images of Potential
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Students are asked to think about a five-year future and to develop images of potential.
Grade: 9-12

Unit 3: Lesson 15 - Planning for Action: A Contract with Myself
Choices and Changes: In Life, School, and Work - Grades 9-10 - Teacher's Resource Manual
Students make commitments to themselves by developing action plans after setting goals.
Grade: 9-12

Lesson 1 - The ABCs of Goods and Services
Focus: Economics - Grades K-2
The students will distinguish between goods and services and act out scenes to identify goods and services.
Grade: K-2

Lesson 2 - A Mystery Bag of Wants
Focus: Economics - Grades K-2
In this lesson, the students consider picture clues in a "Mystery Bag of Wants" to determine what the teacher wants for the classroom. The students create individual Mystery Want bags and use the bags in a small-group activity to ...
Grade: K-2

Lesson 3 - Gifts from Mother Nature
Focus: Economics - Grades K-2
The students will explore the gifts of nature around them and make a book, a bulletin board and a mobile to illustrate natural resources and how they are used to produce goods and services.
Grade: K-2

Lesson 4 - We Are Human Resources - We Have Human Capital
Focus: Economics - Grades K-2
The students play a quiz game to learn about jobs/careers, the goods and services people produce when they work at their jobs, and special characteristics of different jobs. The students learn what human capital is and brainstorm ...
Grade: K-2

Lesson 5 - Running for Capital Goods
Focus: Economics - Grades K-2
In this lesson, the students discover how capital goods (sometimes called "capital resources") are used to make a person’s job easier. The students participate in a puzzle relay race that will help them identify capital goods used...
Grade: K-2

Lesson 6 - Should We Produce Bread or Muffins?
Focus: Economics - Grades K-2
In this lesson, the students use resource cards to identify resources and their uses, then determine that resources are scarce.
Grade: K-2

Lesson 7 - Let's Make Choices
Focus: Economics - Grades K-2
The students explore choices made as consumers and as producers. They evaluate alternative treats, reviewing the costs and benefits of each. As each student makes his or her choice, both the choice and the opportunity cost are ide...
Grade: K-2

Lesson 8 - We Specialize - We Are Interdependent
Focus: Economics - Grades K-2
In this lesson the students interview specialists in their school. They create a paper-doll streamer of the specialists and develop stories about the "crazy, mixed-up school day," when one specialist is mysteriously missing from h...
Grade: K-2

Lesson 9 - Exchanging for Goods and Services
Focus: Economics - Grades K-2
Working in small groups, the students use barter exchanges and monetary exchanges to produce a classroom banner. A tic-tac-toe game will reinforce the differences between monetary and barter exchanges. In addition, the students wi...
Grade: K-2

Lesson 10 - Markets Are Everywhere
Focus: Economics - Grades K-2
The familiar nursery rhyme, "To market, to market to buy a fat pig / Home again, home again, jiggityjig" is used to introduce the students to a variety of markets. A small-group game allows the students to apply math skills as the...
Grade: K-2

Lesson 1: Choice, Opportunity Costs, and Decisions
Focus: High School Economics
Scarcity, choice, and cost are sometimes referred to as a basic trilogy of economics, because of the strong interrelationships between these fundamental concepts. Resources are limited, compared to wants; therefore, individuals a...
Grade: 9-12

Lesson 2: Broad Social Goals of an Economic System
Focus: High School Economics
All economic systems strive to achieve a set of broad social goals, including economic efficiency, equity, freedom, growth, security, and stability. How these goals are prioritized, and how successful an economy is at attaining t...
Grade: 9-12

Lesson 3: A Classroom Market for Crude Oil
Focus: High School Economics
Every day in communities all around the nation, decisions are made on what goods and services will be produced, how many will be produced and purchased, and at what prices. How are these decisions made? In a market economy there...
Grade: 9-12

Lesson 4: The Market Never Stands Still
Focus: High School Economics
Prices of goods and services fluctuate as conditions that influence the behavior of buyers and sellers change. This lesson examines the major reasons for such changes in supply and demand, and the resulting effects of these chang...
Grade: 9-12

Lesson 5: Markets Interact
Focus: High School Economics
Supply and demand analysis is most often used to show the impact of market changes on equilibrium price and quantity for a particular good or service. But it can also be used to show how changes in one market lead to changes in m...
Grade: 9-12

Lesson 6: Price Controls -- Too High or Too Low
Focus: High School Economics
Sometimes governments interfere with market forces by establishing minimum prices or maximum prices for specific goods and services. Examples of such legal price controls include minimum prices for milk and grain products to help...
Grade: 9-12

Lesson 7: Price Changes Matter
Focus: High School Economics
The law of demand states that as the price of a product increases, the quantity demanded decreases. Conversely, as price decreases, the quantity demanded increases. But that still leaves an important question: will consumers pu...
Grade: 9-12

Lesson 8: Getting More or Using Less
Focus: High School Economics
Although the problem of scarcity can never be eliminated, finding ways to increase productivity can moderate it. Productivity is the amount of goods and services produced (output) per unit of productive resources used (input). P...
Grade: 9-12

Lesson 9: Learn More, Earn More
Focus: High School Economics
Human capital refers to the knowledge, skills, and experience that people bring to the workplace. With education and training, people increase their human capital and improve their productivity, which usually allows them to incre...
Grade: 9-12

Lesson 10: Rich Man, Poor Man...
Focus: High School Economics
The issue of income distribution has been controversial throughout history. Decisions about the distribution of income are made by individuals and firms making exchanges in the markets for productive resources (inputs), and also ...
Grade: 9-12

Lesson 11: Public Goods and Services
Focus: High School Economics
Most goods and services produced in the marketplace are private goods and services. This kind of good or service is purchased by a consumer who desires it and can afford it, and then consumed only by that individual or anyone he ...
Grade: 9-12

Lesson 12: Third-Party Costs and Benefits
Focus: High School Economics
If some of the costs or benefits entailed in either the production or consumption of a product "spill over" to people other than the producers and consumers of the product, and if the costs of collecting for those costs and benefi...
Grade: 9-12

Lesson 13: Public Choice: Economics Goes to Washington and into the Voting Booth
Focus: High School Economics
Economist James Buchanan won the Nobel Prize in economics in 1987, for pioneering work he had done with Gordon Tullock and others in the new field of public choice economics. This approach applies the basic economic way of thinki...
Grade: 9-12

Lesson 14: When There Isn't Pure Competition
Focus: High School Economics
Most markets do not fit the strict assumptions of perfect competition: many sellers selling identical products in a market that is relatively easy to enter and exit. Imperfectly competitive markets can differ from perfect competi...
Grade: 9-12

Lesson 15: Until the Last Unit Equals
Focus: High School Economics
Marginalism is an important concept in both personal and social decision-making. Choices are rarely all-or-nothing propositions, but instead usually deal with incremental (marginal) changes -- giving up a little of one thing to g...
Grade: 9-12

Lesson 16: The Circular Flow(s)
Focus: High School Economics
The circular flow of economic activity is a simplified model of the basic economic relationships in a market economy. This model gives students an overview of how households, businesses, and the government interact in different m...
Grade: 9-12

Lesson 17: Saving, Investing, and the Invisible Hand
Focus: High School Economics
This lesson explains how financial institutions in a market economy channel savings into economic investments. How much people save and how effectively those savings are transformed into good investments are directly related to a...
Grade: 9-12

Lesson 18: Economic Ups and Downs
Focus: High School Economics
News reports about the economy often refer to data concerning economic growth, recessions, inflation, and unemployment. Students (and adults) should understand these data and how they both reflect and affect peoples' and companie...
Grade: 9-12

Lesson 19: Money, Interest, and Monetary Policy
Focus: High School Economics
Growth of the money supply is related to inflation. This lesson examines how money supply growth rates can lead to inflation when they outpace the growth in output. To maintain price stability and steady rates of economic growth...
Grade: 9-12

Lesson 20: Aggregate Supply and Demand: The Sum of Their Parts, and More
Focus: High School Economics
Over the last two decades, the most dramatic pedagogical innovation in teaching introductory economics has been the use of aggregate supply and demand curves to illustrate key macroeconomic concepts and policy issues. There is st...
Grade: 9-12

Lesson 21: Economic Growth and Development
Focus: High School Economics
Economic growth is measured by a rise in real (inflation-adjusted) gross domestic product (GDP) over time. When a nation's production of goods and services rises faster than its population, real GDP per capita increases. That si...
Grade: 9-12

Unit 1: Lesson 1 - What If I Do Not Have the Skills and Knowledge I Need to Produce?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Teams of students use their limited knowledge to accomplish a challenging task. Most of the student teams will not be successful until they acquire the necessary knowledge. The students read one of two selected books in which th...
Grade: 9-12

Unit 1: Lesson 2 - How Can I Improve My Human Capital?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read about the experiences of Prince Henry the Navigator of Portugal 600 years ago. He organized a way to improve human capital, enabling him to accomplish his goals and enabling others to seek greater economic opportuni...
Grade: 9-12

Unit 1: Lesson 3 - What Results When People Improve Their Human Capital?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read 1998 U.S. labor-market data, compare education and income levels, then graph and analyze the data.
Grade: 9-12

Unit 2: Lesson 4 - How Can I Make Decisions About My Future?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
In the mid-1700s thousands of Europeans traveled to North America seeking adventure, freedom, and economic opportunity. The risk of deciding to travel across the Atlantic Ocean in a wooden ship was great, but the potential reward...
Grade: 9-12

Unit 2: Lesson 5 - How Can I Improve My Ability to Produce What People Want?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read about the life and career decisions of Philip Simmons, a blacksmith and artist from Charleston, South Carolina. They analyze the skills and knowledge Mr. Simmons used to make different products throughout his caree...
Grade: 9-12

Unit 2: Lesson 6 - What Results When People Can Produce More?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students become components of their circular flow model, representing the producer and consumer sectors, while making exchanges in resource and product markets. Productive resources, goods and services, consumer spending, and inc...
Grade: 9-12

Unit 3: Lesson 7 - Can I Produce Something People Want?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students use common objects to produce goods they think people will use to satisfy wants. They read a biography of inventor George Washington Carver, learning how Carver helped tenant farmers in the South improve the soil and how...
Grade: 9-12

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 thei...
Grade: 9-12

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: 9-12

Unit 4: Lesson 10 - What Are the Advantages of Working with Others to Produce?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read historical fiction set in 1855 in the Oregon Territory. The story illustrates the results of people working interdependently. The students identify ways in which the characters in the story worked together.
Grade: 9-12

Unit 4: Lesson 11 - Can I Learn to Work with Others to Produce?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
In a large group, students attempt to accomplish a task that requires working interdependently with others. They identify the human capital they used to produce a service. Then they identify the human capital they used as the sp...
Grade: 9-12

Unit 4: Lesson 12 - What Results When People Work Together to Produce?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students read about the settlers at Jamestown in 1607 and the signers of the Mayflower Compact, focusing on why they agreed to cooperate to survive when they settled in North America.
Grade: 9-12

Unit 5: Lesson 13 - Why Should I Set Goals and Plan to Achieve My Goals?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students create lists of their personal goals and prioritize the goals on their lists. They identify the goals that will require development of their human capital. They identify ways in which they will be interdependent with ot...
Grade: 9-12

Unit 5: Lesson 14 - How Can I Overcome Obstacles to Achieve My Goals?
Choices and Changes: In Life, School, and Work - Grades 5-6 - Teacher's Resource Manual
Students play The Road to Success game. While playing the game, they identify obstacles and ways to overcome obstacles to achieve a goal. They identify the incentives they respond to when they make choices and the opportunity co...
Grade: 9-12

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 achiev...
Grade: 9-12

Lesson 1: The Nature of Demand
Mathematics & Economics: Connections for Life - 9-12
This lesson develops the economic tool of demand. Demand is determined by the value that people attach to a product (a good or a service). A demand curve is a graph with a negative slope that lies in the first quadrant. It illustr...
Grade: 9-12

Lesson 2: The Nature of Supply
Mathematics & Economics: Connections for Life - 9-12
This lesson develops the economic tool of supply. Supply is determined by the willingness and ability of producers to sell a product (a good or a service) at different prices. A supply curve is a graph with a positive slope in the...
Grade: 9-12

Lesson 3: Equilibrium: Determining Prices and Quantities
Mathematics & Economics: Connections for Life - 9-12
Supply and demand affect the prices people pay and the quantities they exchange in a market economy. Equilibrium is said to occur at the point at which quantity supplied equals quantity demanded. This point is at the intersection ...
Grade: 9-12

Lesson 4: Understanding the Mathematics of Changes in Supply and Demand
Mathematics & Economics: Connections for Life - 9-12
This lesson asks students to look at the factors that cause a change in supply and/or a change in demand. Many factors influence the amount of a product that people are willing and able to purchase at each and every price. Such fa...
Grade: 9-12

Lesson 5: The Gains From Trade
Mathematics & Economics: Connections for Life - 9-12
This lesson is an application of the supply and demand tools developed in lessons 1-4. In the earlier lessons, models of supply and demand were introduced to show students how (equilibrium) prices are determined in markets. This a...
Grade: 9-12

Lesson 6: The Mathematics of Linear Economic Shapes: Slopes and Elasticities
Mathematics & Economics: Connections for Life - 9-12
As was noted in Lessons 1 - 4, a demand curve is used to describe the willingness and ability of buyers to purchase various quantities of goods and services at alternative prices. The visual representation of this relationship is ...
Grade: 9-12

Lesson 7: The Mathematics of Nonlinear Economic Shapes: The Production Possibilities Curve
Mathematics & Economics: Connections for Life - 9-12
Because the resources (such as raw materials, minerals, energy, labor, equipment, machinery, etc.) that are used to produce goods and services are limited in their availability, we cannot have all that we want. When limited resour...
Grade: 9-12

Lesson 8: The Mathematics of Nonlinear Economic Shapes: The Cubic Cost Function
Mathematics & Economics: Connections for Life - 9-12
Careful control of total cost is essential for a firm if it wishes to maximize profits. While many firm managers prefer to concentrate on the more glamorous activity of marketing and selling the company's product, many companies h...
Grade: 9-12

Lesson 9: Profit Mathematics
Mathematics & Economics: Connections for Life - 9-12
Most businesses in a market economy try to maximize profits. Economic profits are the difference between total revenue (the value of total sales for the business) and total cost (how much it costs the business to produce its goods...
Grade: 9-12

Lesson 10: Powerball Economics
Mathematics & Economics: Connections for Life - 9-12
In games of chance, such as a lottery, economists refer to a fair game as one in which the expected return from the game equals the amount that one must pay to play the game. If a lottery costs one dollar to play and the expected ...
Grade: 9-12

Lesson 11: Cash or Annuity?
Mathematics & Economics: Connections for Life - 9-12
Jackpot winners of state lotteries may have the choice of receiving their winnings in the form of cash or an annuity. An annuity is a financial instrument that provides income at regular intervals over a specified time period. For...
Grade: 9-12

Lesson 12: Autonomics
Mathematics & Economics: Connections for Life - 9-12
This lesson develops the idea of opportunity cost by examining the costs of owning and operating an automobile. Opportunity cost is the value of the next best alternative when a choice is made.
Grade: 9-12

Lesson 13: Tax Math
Mathematics & Economics: Connections for Life - 9-12
People pay a variety of taxes. Among the different types of taxes that we pay are the federal income tax and the payroll tax. How these taxes are applied has interesting economic implications. The income tax is a progressive tax. ...
Grade: 9-12

Lesson 14: The Mathematics of Savings
Mathematics & Economics: Connections for Life - 9-12
Because of interest compounding, establishing a commitment to personal savings early in one's professional career can yield large long-run benefits. This lesson looks at the mathematics that underlie the computations of the future...
Grade: 9-12

Lesson 15: The Mathematics of Credit Card Interest and Fixed Payments
Mathematics & Economics: Connections for Life - 9-12
It is common for a high school student to receive multiple invitations to enroll for a credit card. In fact, an increasing number of high school students even carry credit cards. One goal of this lesson is to try to uncover some o...
Grade: 9-12

Unit 1: Lesson 1 - Scarcity
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
It is a paradox that people who learn to accept and deal with scarcity often achieve much more than those who don't accept it. The inability to deal with scarcity leads to problems with money, education, skill development, and ma...
Grade: K-2, 3-5

Unit 1: Lesson 2 - Alternatives
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
In working on Choices and Changes, students should learn that they can ordinarily respond to events in their lives by alternative means, and that it is up to them in these cases to find an alternative that will result in a benefic...
Grade: K-2, 3-5

Unit 1: Lesson 3 - Alternatives Have Advantages and Disadvantages
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
In this lesson students will: Realize that alternatives have advantages and disadvantages; Accept responsibility for advantages and disadvantages of alternatives selected; And identify the advantages and disadvantages of alternati...
Grade: K-2, 3-5

Unit 1: Lesson 4 - Choice
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
In this lesson, students should recognize that they have the power to choose and that they do make many choices. Many people feel powerless because they think they don't make choices.
Grade: K-2, 3-5

Unit 1: Lesson 5 - Opportunity Cost
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
In this lesson students will: Recognize the importance of identifying the opportunity cost of a potential choice; Use the concept of opportunity cost before making decisions; Avoid using the word "free."
Grade: K-2, 3-5

Unit 1: Lesson 6 - Decision Making
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will learn that making decisions without thinking them through and collecting sufficient information can learn to consequences they did not anticipate. They will learn to find out about others before they decide how to t...
Grade: K-2, 3-5

Unit 2: Lesson 7 - Goods and Services, Work and Workers
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Both men and women do work and it is done in the home and outside the home. In this lesson, students begin to understand and value work in all of its forms.
Grade: K-2, 3-5

Unit 2: Lesson 8 - The Work I Do
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Too often, children don't understand why they are in school. They begin to think about this more as they grow older. In this lesson, children learn that their activities in school are work, and their work is as important as work...
Grade: K-2, 3-5

Unit 2: Lesson 9 - I Am a Bundle of Human Capital
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will recognize that they have many skills.
Grade: K-2, 3-5

Unit 2: Lesson 10 - School Is an Investment in Human Capital
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will recognize that development of human capital increases the quantity and quality of alternatives available to them now and in the future. They will also take responsibility for their education.
Grade: K-2, 3-5

Unit 3: Lesson 11 - Workers Use Other Resources
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will define resources as things that people can use to produce goods or services. They will identify human capital as a resource, identify examples of land, and identify examples of physical capital. Students will also ...
Grade: K-2, 3-5

Unit 3: Lesson 12 - Inputs, Plan, Outputs
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will take pride in their ability to produce something.
Grade: K-2, 3-5

Unit 3: Lesson 13 - Learning to Produce
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will increase their self-confidence by discovering their ability to learn skills.
Grade: K-2, 3-5

Unit 3: Lesson 14 - Practice
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will become accustomed to practice as part of the learning process.
Grade: K-2, 3-5

Unit 3: Lesson 15 - Teaching Others Builds Human Capital
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will see the power that a teacher has to help others and connect teaching and learning.
Grade: K-2, 3-5

Unit 4: Lesson 16 - Entrepreneurs and the Interdependence of Buyers and Sellers
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
People often think of themselves as consumers, but not as producers. In this lesson, students will meet business owners, managers, and entrepreneurs so that they can identify with them and perhaps aspire to start their own busine...
Grade: K-2, 3-5

Unit 4: Lesson 17 - Markets and Exchange
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will feel empowered when they make voluntary exchanges.
Grade: K-2, 3-5

Unit 4: Lesson 18 - The Labor Market: My Human Capital Pays Off
Choices and Changes: In Life, School, and Work - Grades 2-4 - Teacher's Resource Manual
Students will envision themselves as future workers, business owners or managers, professionals, or entrepreneurs.
Grade: K-2, 3-5

Lesson 1: Broad Social Goals of Economic Systems
Focus: Economic Systems
Students create their own utopian society by rating five broad social goals. They learn about characteristics of command economies and market economies and make judgments about the goals that are most valued in each type of syste...
Grade: 9-12

Lesson 2: Who Decides?
Focus: Economic Systems
Working in groups students determine how command and market economies use different procedures to make resource allocation decisions. With this information, students explore how both types of economies might respond to various ev...
Grade: 9-12

Lesson 3: Property Rights, the Tragedy of the Commons, and the Coase Theorem
Focus: Economic Systems
Students participate in simulations of a collective farm and an equal-shares society. Then they use simple numerical examples to demonstrate the relationship between collective ownership and the tragedy of the commons. Finally, ...
Grade: 9-12

Lesson 4: Sparta, Athens, Cuba and the United States: Ancient and Modern Examples of Command and Market Economies
Focus: Economic Systems
Students compare the economies of ancient Sparta and Athens using primary sources of speeches and other historical accounts. Students then compare the current economic systems of the United States and Cuba, using passages from th...
Grade: 9-12

Lesson 5: Anything Planners Do, Markets Do
Focus: Economic Systems
Students assume roles as decision-makers and allocate resources in the framework of both a command and market economy. In the first round, students role-play members of GrossComm, a central planning committee responsible for dete...
Grade: 9-12

Lesson 6: What (and How Much) Should Government Do?
Focus: Economic Systems
Students receive cards that describe either a personal goal or a broad social goal that, to some degree, involves a role for government. They trade cards in an attempt to obtain one for which they agree with the government progra...
Grade: 9-12

Lesson 7: Shady Creatures and the Problem of Special Interest Groups
Focus: Economic Systems
A trading simulation is first used to demonstrate the benefits of free trade. In a later round trade is restricted, which helps a small group of people but hurts many more. Students use basic arithmetic to see why it would be in...
Grade: 9-12

Lesson 8: Central Banking With or Without Central Planning
Focus: Economic Systems
Students participate in an auction to see how large increases in the money supply can cause inflation. Then they examine data on the relationship between inflation and growth rates in the money supply in different countries. Tha...
Grade: 9-12

Lesson 9: The Mysteries of Unemployment: How Can You Hide Something So Macro?
Focus: Economic Systems
Students learn how economists measure the labor force, unemployment and labor productivity and see how international differences in national employment goals and procedures for measuring unemployment can make it difficult to compa...
Grade: 9-12

Lesson 10: Why Are Some Nations Wealthy?
Focus: Economic Systems
Students work in pairs to examine data from several nations regarding size, natural resources, and population. Using these data they make predictions about which nations are likely to be below, at, or above the world average of p...
Grade: 9-12

Lesson 11: No Sacrifice Is Too Great for Someone Else to Make
Focus: Economic Systems
In this lesson, students are engaged in a production simulation that demonstrates different production decisions about the use of resources under different types of economic systems. Students analyze the results of the simulation...
Grade: 9-12

Lesson 12: Income Distribution and Redistribution Policies
Focus: Economic Systems
Students learn how Lorenz curves and Gini coefficients are used to show the degree of income inequality in a national economy. These measures are then used to discuss such questions as: How much income equality is desirable? Do ...
Grade: 9-12

Lesson 1 - A Rooster and a Bean Seed
Roosters to Robots: Lesson Plans from Writers around the World
In this lesson, students hear a folk tale and participate in a simulation that helps them recognize problems with barter and benefits of monetary exchange.
Grade: K-2, 3-5

Lesson 2 - Folding Our Way to Productivity
Roosters to Robots: Lesson Plans from Writers around the World
Students role-play workers producing origami cups. They participate in two production rounds, one without training and one with training. Students
Grade: K-2, 3-5

Lesson 3 - Gross Domestic Pizza
Roosters to Robots: Lesson Plans from Writers around the World
This lesson explores how gross domestic product (GDP) is determined. The major components of GDP are described. Students create and compare GDP pie charts for the countries of Pepperonia and Anchovia.
Grade: 3-5, 6-8

Lesson 4 - What, How and For Whom to Produce?
Roosters to Robots: Lesson Plans from Writers around the World
Students produce badges as rewards for the best economists in the class. Through this production activity, they learn how command and market economies answer the basic economic questions: What to produce? How to produce? For whom ...
Grade: 3-5, 6-8

Lesson 5 - Clothes from Grain: A Miracle or a Problem?
Roosters to Robots: Lesson Plans from Writers around the World
Students read two fables about entrepreneurs who buy grain and turn the grain into clothing or resell the grain and use the proceeds to import clothing. Students use the information from the fables to determine why people trade an...
Grade: 6-8, 9-12

Lesson 6 - Centuries of Economic Growth: From Feathers to Robotics
Roosters to Robots: Lesson Plans from Writers around the World
Students read scenarios about the production of Bibles over five historical time periods. Working in small groups, students create skits and develop a retrieval chart that is used to analyze factors that impact economic growth.
Grade: 6-8, 9-12

Chapter 3: Lesson 1 - The Eye Glasses 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: 3-5, 6-8

Chapter 3: Lesson 2 - Why Stay Up Late When It Wipes You Out the Next Day?
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: 3-5, 6-8

Chapter 3: Lesson 3 - The Mystery of the Lost and Found That's Always Stocked
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: 3-5, 6-8

Chapter 3: Lesson 4 - The Homework 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: 3-5, 6-8

Chapter 3: Lesson 5 - Could Buying Trees at Christmas Be Forest-Friendly?
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: 3-5, 6-8

Chapter 3: Lesson 6 - What Genius Figured Out How to Get Food from the Farms to The Market?
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: 3-5, 6-8

Chapter 3: Lesson 7 - The Mystery of the Alien Bananas
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: 3-5, 6-8

Chapter 3: Lesson 8 - The Mystery of the Wasted Food
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: 3-5, 6-8

Chapter 3: Lesson 9 - Why Do the Cups Disappear from Room 103?
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: 3-5, 6-8

Chapter 3: Lesson 10 - Sherri Rejects a Sure Thing
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: 3-5, 6-8

Chapter 3: Lesson 11 - How Can You Have Sea Shells When You Don't Live by the Sea?
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: 3-5, 6-8

Chapter 3: Lesson 12 - Why Is the School Lunchroom Always Dirty?
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: 3-5, 6-8

Chapter 3: Lesson 13 - Why Throw Away the Lunch Your Mom Made?
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: 3-5, 6-8

Chapter 3: Lesson 14 - Why Did the English Colonies Prosper?
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: 3-5, 6-8

Chapter 3: Lesson 15 - Mariah Visits a Petting Zoo
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: 3-5, 6-8

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: 3-5, 6-8

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: 3-5, 6-8

Chapter 3: Lesson 1 - The Case of the Pampered Chickens
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 2 - The Credit Card Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 3 - Unsafe at Any Level of Protection
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 4 - Why Airborne Infants Aren't Required to Buckle Up
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 5 - Having Many Children or Few
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 6 - Scarce Health Care in the Inner Cities
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 7 - Why Boris Couldn't Buy Much with His Rubles
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 8 - Why Would Mexico Want to Trade with the United States and Canada?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 9 - The Heart Throb Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 10 - The Gift-Giving Mystery: Why Not Just Send Money?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 11 - The Mystery of the Crazy Quilt Air Fares
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 12 - Why the Kid Who Skipped College Earns Big Bucks Playing Games
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 13 - What's in a Name?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 14 - Why Don't All Students Study Hard at School?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 15 - Why Are ATMs Everywhere?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 3: Lesson 16 - Why Everything but the Kitchen Gets Stashed in the Overhead Luggage Bins on Airplanes
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 1 - The Electoral College Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 2 - Where Did the Mortgages Go?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 3 - The Mystery of the Politicians Who Can't Say No
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 4 - Is Parking Really Free in Fargo?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 5 - The Mystery of the Missing Pubs
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 6 - How We Almost Got a Sixth Great Lake
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 7 - The Mystery of the Voters Who Don't Vote
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 8 - The Corny Fuel Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 9 - The Urban Housing Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 10 - The Mystery of the Unwanted Melons
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 4: Lesson 11 - Why Can't You Buy A Car on Sunday?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 1 - Why Haven't We Run Out of Natural Resources?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 2 - Why Air Condition the Air in the Desert?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 3 - Why Grow Rice in the Desert?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 4 - The Tragedy of the Commons
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 5 - The Dark Side of Curbside Recycling
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 6 - The Bright Side of Urban Sprawl
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 7 - How Can Trading Emissions Rights Reduce Pollution?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Chapter 5: Lesson 8 - Why Are Our National Parks Crumbling?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 9-12
Students describe an economic mystery and discuss various explanations. They use an Activity sheet with a list of clues to help them arrive at a solution for the mystery.
Grade: 9-12

Lesson 1: A Community Success Story
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This lesson provides an overview of the activities in the entire unit. The students listen to a story entitled "Our Success Story," which is about a group of children who live in the community of Communityville. The children in ...
Grade: 3-5

Lesson 2: Community Resources
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This lesson aims to develop an understanding of natural, human, and capital goods resources through a mapping exercise. The students study a map of a model community and begin to understand that a community is a place where peopl...
Grade: 3-5

Lesson 3: Communities Change
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students analyze how Communityville has grown by examining another map of the town. The students locate new resources that provide goods and services to the people of Communityville.
Grade: 3-5

Lesson 4: Communities Today
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students study how resources change in communities by comparing the maps of Communityville. This lesson summarizes the two previous map lessons and helps students become familiar with the suppliers of goods and services to the peo...
Grade: 3-5

Lesson 5: My Community
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This lesson provides an opportunity for students to explore their own community by naming places in it that provide goods and services. Working in small groups, the students discuss and list this information and then enter it in ...
Grade: 3-5

Lesson 6: Our Community
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
The students study their own community while creating a display on the bulletin board. Using the lists prepared in Lesson 5, students discuss the places that produce goods and services in the community. The students select a pla...
Grade: 3-5

Lesson 7: Community Interdependence
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson students learn about the interdependence that exists among people and places in their community. The students listen to "The Communityville Tour" and associate the information in it with their own community.
Grade: 3-5

Lesson 8: Mini-Mall
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students participate in a market simulation. They assume the roles of consumers and producers as they buy and sell goods and/or services in the marketplace.
Grade: 3-5

Lesson 9: Visiting a Business
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
A study trip can enhance the learning value of this unit by providing students with an opportunity to observe a business. When planning the trip, try to select a business such as a bookstore; a shop engaged in graphic design, typ...
Grade: 3-5

Lesson 10: The Pencil Choice
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson the students assume the role of consumers and choose among three pencils. They discuss wants, acceptable substitutes, and other factors that influence consumer decisions such as price, personal satisfaction, and kn...
Grade: 3-5

Lesson 11: The Badge Factory
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
The students participate in a production-line simulation. They produce a badge that will be given to the people they interview and to those who buy their books. The students discover the need for specialization during production...
Grade: 3-5

Lesson 12: Interviewing People in the Community
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students learn how to conduct an interview to collect information about people and places in their community. Students practice their interviewing skills by interviewing each other, with the students taking turns playing the role...
Grade: 3-5

Lesson 13: Results of the Community Interviews
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students review their Community Notebooks and interview forms to help them form generalizations about their community.
Grade: 3-5

Lesson 14: Finding the Main Ideas
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students select and organize the main ideas for their reports by analyzing their interviews and their Community Notebooks.
Grade: 3-5

Lesson 15: Beginning Sentences and Descriptive Words
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students focus on writing beginning sentences for their reports and selecting descriptive words. NOTE: It is assumed that students can write complete sentences and have had prior experience with descriptive words before beginnin...
Grade: 3-5

Lesson 16: Paragraph Writing and Closing Sentences
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This lesson reinforces paragraph writing skills as students begin to write their community reports.
Grade: 3-5

Lesson 17: Editing
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
The focus of this lesson is on the editing of the community report.
Grade: 3-5

Lesson 18: Preparing the Final Draft
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
As writers in the Community Publishing Company, students work to produce a product that consumers will want to buy. Therefore, they should use their best penmanship in writing the final draft of their reports so that people will ...
Grade: 3-5

Lesson 19: Symbols for the Reports
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
If the class is to design symbols for the reports, proceed with this lesson. Otherwise, go directly to Lesson 20. The symbol represents the main person, place, thing, or idea in an individual's report. In this lesson students d...
Grade: 3-5

Lesson 20: Illustrations for the Reports
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
If the class is to illustrate the reports, proceed with this lesson. Line, shape, and size are introduced as "drawing helpers." Students practice illustrating their reports and then draw their pictures on their reports.
Grade: 3-5

Lesson 21: Resources for the Publishing Company
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson, you and your class begin to make decisions about the kid of book you will produce. The class also speculates on the resources necessary to produce the book and the cost of the resources.
Grade: 3-5

Lesson 22: Production Questions
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson you and your class discuss the production questions that must be answered before a classroom book can be produced. As owners of the publishing company, your students must discuss how much people will pay for the bo...
Grade: 3-5

Lesson 23: Production and Pricing Decisions
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
You and your class make the final decisions regarding the production costs and price of the book. The Market Survey results are discussed and analyzed to help make these decisions. The use of three transparencies aids the teache...
Grade: 3-5

Lesson 24: Obtaining Resources on Credit
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
You must decide whether the publishing company will obtain the resources (materials) from the school principal on credit, or obtain a loan from a bank to buy the resources. If you decide to obtain the resources from the school pr...
Grade: 3-5

Lesson 25: Obtaining a Bank Loan
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This and the following lesson are designed to familiarize students with that process of obtaining a loan from a bank. You may choose either to invite a banker to visit the classroom or take a study trip to a bank to obtain a loan...
Grade: 3-5

Lesson 26: Study Trip
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This optional lesson gives students the experience of visiting a bank to obtain a loan for their business. The lesson requires advance planning.
Grade: 3-5

Lesson 27: Job Application
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
The students discuss the jobs on the production line that will be necessary to produce the books. They consider personal strengths and abilities that would qualify them for particular jobs. They also complete a job application f...
Grade: 3-5

Lesson 28: Preparation for Production
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
This lesson prepares the class for assembling the books. You will review the steps in production with the class. The students will then develop a list of rules for the workers to follow. At the conclusion of the lesson the work...
Grade: 3-5

Lesson 29: The Production Process
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students produce their class book and thereby experience first-hand how people specialize and cooperate in a business. The children discuss the results of the production process and relate the experience to other businesses in th...
Grade: 3-5

Lesson 30: Advertising
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson, the students write an advertisement to help sell the community book. They also write a slogan about their product. They discuss reasons for advertising and what should be included in a successful advertisement.
Grade: 3-5

Lesson 31: Selling the Book
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students study how to be good sales people by practicing a sales speech. The students discuss the steps for selling the book and prepare to sell it.
Grade: 3-5

Lesson 32: Choice Making
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Once the books have been sold, the class decides what to do with the money left over (if any) after paying back the loan or credit and any other expenses incurred in the business. The teacher emphasizes that the money left over i...
Grade: 3-5

Lesson 33: Annual Report
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
Students assemble in small groups and review what they have learned in the unit. They also complete an annual report activity sheet designed to help them in applying what they have learned to other experiences.
Grade: 3-5

Lesson 1: Choosing a House
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Economics is a decision-making science based on the concept of scarcity. Scarcity occurs when economic wants are greater than the resources available to satisfy them. Scarcity requires decision making, and economizing is the pro...
Grade: 3-5

Lesson 2: What? How? For Whom?
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
An economic system is the way society organizes the production and consumption of goods and services. Every economic system answers three basic economic questions: What to produce? How to produce? And For whom to produce? How a ...
Grade: 3-5

Lesson 3: Dandy Dollars Takes a Trip
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
A market (price) system coordinates economic activity through markets. There are hundreds of thousands of different markets that are interrelated and usually dependent upon one another. The circular flow of economic activity is ...
Grade: 3-5

Lesson 4: A Profusion of Confusion
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
There are many misconceptions about the meaning of the term "demand" in everyday life. Demand is a set of possible prices at which consumers are willing and able to purchase a product. The demand schedule indicates the amount co...
Grade: 3-5

Lesson 5: Graphing Demand
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
The concept of demand is sometimes easier to grasp when looking at a picture. A demand curve is a picture of the information in a demand schedule. When drawing a demand curve, price is traditionally placed on the vertical axis a...
Grade: 3-5

Lesson 6: Demand Changes
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Price is an important factor influencing consumer purchases of goods and services. There are, however, other important determinants of demand. In constructing the demand schedule or curve, these determinants are assumed to be un...
Grade: 3-5

Lesson 7: Widget Production
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
In order to produce an output of goods or services, a firm needs inputs or factors of production. Businesses must purchase natural, human, and capital resources. Entrepreneurship is provided by the owner or manager of the firm. ...
Grade: 3-5

Lesson 8: Creative Toy Production
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
In a market (price) system, economic decisions are made in the marketplace through the interaction of consumers and producers. Businesses produce and sell the goods and services consumers desire. Firms buy factors of production ...
Grade: 3-5

Lesson 9: Producers and Supply
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Producers are the sellers (or suppliers) of output in a market. In the circular flow of economic activity, businesses are suppliers in the market for goods and services; individuals and households are the suppliers in the market ...
Grade: 3-5

Lesson 10: Supply Changes
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Price is a very important factor that influences how much will be produced and available for sale in a market. There are, however, important determinants of supply in addition to price. In constructing the supply schedule or cur...
Grade: 3-5

Lesson 11: Market Balance
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
The market (price) system answers the basic economic questions of what, how, and for whom to produce in the marketplace. The demand decisions of consumers and the supply decisions of producers interact to establish prices and qua...
Grade: 3-5

Lesson 12: Market Madness
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
The market (price) system answers the basic economic questions of what, how and for whom to produce in the marketplace. The demand decisions of consumers and the supply decisions of producers interact to establish prices and quan...
Grade: 3-5

Lesson 13: Mind Your P's and Q's
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Market-clearing prices and quantities exchanged can change if fluctuations in demand or supply or both occur. Demand and supply will change when the non-price determinants change. How these changes affect the equilibrium price a...
Grade: 3-5

Lesson 14: If This, Then That
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
In the U.S. economy, markets function to establish prices and quantities for goods, services, and resources. Through this price system, scarce resources are allocated to the production of goods and services most desired by consum...
Grade: 3-5

Lesson 15: Regulation Rigmarole
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Decisions about what, how, and for whom to produce depend on the economic goals of a society. Since resources are limited, Americans must examine alternatives regarding production, consumption, and distribution of goods and servi...
Grade: 3-5

Lesson 1: Everybody Wants Everything
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Scarcity is the basic economic problem. Because human wants are unlimited and resources are limited, people cannot have all of the goods and services they want. Scarcity requires people to make choices about which wants they sat...
Grade: 3-5

Lesson 2: Service with a Smile
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
People satisfy relatively unlimited wants by consuming goods and services produced with limited resources. A good is something tangible, such as a book or an apple. A service is something that one person does for someone else. ...
Grade: 3-5

Lesson 3: Wooden Opportunities
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Opportunity cost is the highest valued alternative given up when another option is chosen. Because people can't have everything they want, there is always an opportunity cost when they choose to buy a good or service. The same i...
Grade: 3-5

Lesson 4: Olympic-Minded Decisions
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The basic economic question is how do people use their scarce resources to satisfy their unlimited wants wisely. They must make choices.
Grade: 3-5

Lesson 5: Getting More Out of Less
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Many decisions must be made to produce a good or service. For example, producers must make decisions about what to produce, what kind of building and tools are needed, what workers are needed, what materials are needed, what the ...
Grade: 3-5

Lesson 6: Circles within Circles
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
A market is a setting in which people buy and sell goods and services and resources. A market economy is an economic system in which most goods, services, and resources are exchanged by private households and businesses. Prices ...
Grade: 3-5

Lesson 7: Let's Trade
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Barter is the direct exchange of goods and services between people, without using money. People voluntarily exchange goods and services because they expect to be better off after the exchange. When people use barter to facilitat...
Grade: 3-5

Lesson 8: Money Is What Money Does
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The basic purpose of money is to facilitate the exchange of goods and services. For money to have value, it must be acceptable by a large number of people. Money serves as a medium of exchange; that is, people exchange money for...
Grade: 3-5

Lesson 9: A Cracker Jack Lesson
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The basic consumer problem is how to achieve maximum satisfaction given limited resources. Consumers see many goods and services they want to buy, but constraints force them to choose. Many factors influence consumer decisions, ...
Grade: 3-5

Lesson 10: A Taxing Situation
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Some goods and services are provided by government. There are over 87,000 different governments in the Unites States, ranging from the federal government, to state governments, to many types of local governments (such as county, ...
Grade: 3-5

Lesson 11: Those Golden Jeans
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Supply and demand are concepts that students can easily understand when the concepts are demonstrated with products familiar to them. The Law of Demand states that consumers are willing and able to buy less of a product at higher...
Grade: 3-5

Lesson 12: A Classy Competition
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
People experience competition every day. Competition challenges people to try harder, practice more, and invest more time and energy in order to do their best. Competition not only encourages individuals to do their best, it als...
Grade: 3-5

Lesson 13: The Working World
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Human capital consists of the skills, knowledge, and other factors, such as health, that improve an individual's ability to produce goods and services. One reason people earn different incomes for different jobs is that they diff...
Grade: 3-5

Lesson 14: Orange Juice Jubilee
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The simulation is a two-lesson unit designed to serve as a culminating activity for the review of economic concepts taught in the pervious thirteen lessons.
Grade: 3-5

Lesson 15: An Entrepreneurial Experience Extraordinaire
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
In the previous lesson students established a company and participated in various preproduction activities. This lesson involves the implementation of production, marketing, and distribution decisions for Orange Juice Jubilee. St...
Grade: 3-5

Lesson 1: Why Do People Trade?
Focus: International Economics
Students participate in a trading activity. In a debriefing session, they discuss their actions and compare their behavior with trading behavior that occurs in the economy.
Grade: 9-12

Lesson 2: Why People and Nations Trade
Focus: International Economics
Students read and discuss a brief article on why nations trade, and they complete two activities applying the concept of comparative advantage. One activity involves exchange between two students; the second activity involves a h...
Grade: 9-12

Lesson 3: Trade and Specialization
Focus: International Economics
In this lesson students learn by participating in a classroom simulation how economic welfare is increased by trade and specialization. To explain this outcome they must apply the principle of comparative advantage to their tradi...
Grade: 9-12

Lesson 4: Trading Around the World
Focus: International Economics
Students first analyze and discuss information on the major U.S. trading partners. Then they identify the parent countries of businesses that produce familiar brand name products. Finally, students participate in an activity to ...
Grade: 9-12

Lesson 5: Interpreting Trade Data: Graphs and Charts
Focus: International Economics
In this lesson students are given short readings and asked to interpret graphs displaying information about international trade. The twofold purpose is to learn how to read graphs and to understand the breadth and scope of world ...
Grade: 9-12

Lesson 6: The United States and World Trade
Focus: International Economics
Like Lesson Five, this lesson stresses how to read tables, graphs, and statistics that relate to U.S. trade. Students examine graphs on U.S. exports and imports; they use this information to begin to understand the economic facto...
Grade: 9-12

Lesson 7: World Trade
Focus: International Economics
In this lesson students observe the patterns and direction of trade. These observations allow them to understand some of the forces that give rise to international trade.
Grade: 9-12

Lesson 8: Trade Barriers
Focus: International Economics
Students read definitions of trade barriers, complete a short quiz on trade barriers, work through a short math problem illustrating how trade barriers can serve special interests, and discuss the specific barrier of safety standa...
Grade: 9-12

Lesson 9: Ripples: Trade Barriers and Unintended Consequences
Focus: International Economics
First in small groups and then in two large groups, students try to identify which people and organizations would support, or oppose, trade barriers on sugar imports into the United States. When these lists have been completed, t...
Grade: 9-12

Lesson 10: What Happens Here When Imports Are Banned?
Focus: International Economics
Students participate in a classroom exercise followed by a classroom discussion in which they act a producers and consumers in a two-country economy. The exercise is designed to isolate the effects of import restrictions on produ...
Grade: 9-12

Lesson 11: Balance of Payments
Focus: International Economics
Students learn the basic components of the balance of payments and what it means to have a balance of trade surplus or deficit, a current account surplus or deficit, a capital account surplus or deficit, a balance of payments surp...
Grade: 9-12

Lesson 12: Factors Influencing Balance of Payments
Focus: International Economics
Students read a list of various events and transactions. They determine how the events and transactions influence the balance of payments. By reference to Visuals 1 and 2 in Lesson 11, they determine how different transactions i...
Grade: 9-12

Lesson 13: Where to Build a Factory
Focus: International Economics
Through discussion in small groups and reports to the full class, students evaluate the factors that influence decisions about where to invest abroad.
Grade: 9-12

Lesson 14: Foreign Exchange Rates
Focus: International Economics
Students are shown various newspaper headlines referring to the value of the dollar in foreign exchange markets. They learn what exchange rates are, and they participate in a simulation where they discover answers to 10 frequentl...
Grade: 9-12

Lesson 15: Foreign Currency and Foreign Exchange
Focus: International Economics
Visuals 1-4 explain the demand for and supply of foreign exchange in international currency markets. This is mostly discussion led by the teacher, but there is an optional panel discussion at the end of the lesson.
Grade: 9-12

Lesson 16: Trade with Japan: How Fair Is It?
Focus: International Economics
This lesson focuses on the U.S. trade relationship with Japan, and more specifically on the free trade vs. fair trade controversy. Students discuss some of the historical reasons why the Japanese economy has been so successful an...
Grade: 9-12

Lesson 17: Should a Developing Country Have Free Trade?
Focus: International Economics
Students play the role of newspaper reporters in a hypothetical Latin American country; they form opinions about a protective tariff in order to write an editorial for a newspaper in the country's capital.
Grade: 9-12

Lesson 18: The NAFTA Debate
Focus: International Economics
In this lesson, students use supply and demand curves to study the effects of tariffs. They start with an equilibrium situation and work through the price and quantity effects of a tariff. They also learn to identify who gained ...
Grade: 9-12

Lesson 19: Privatization Around the World
Focus: International Economics
In this lesson, students review and evaluate the approaches most widely used to privatize public enterprises and services. They also review some international comparisons on the success of these programs in different nations. In...
Grade: 9-12

Lesson 20: Catching Up or Falling Behind? International Comparisons of National Income and Economic Growth
Focus: International Economics
Student teams participate in several rounds of a production simulation to discover the causes of convergence in output and income levels in industrialized nations. Before the simulation, they examine historical evidence on these ...
Grade: 9-12

Lesson 1: A Parking Lot Full of Incentives
Economies in Transition: Command to Market
Students become familiar with the profit motive of market economies through a newspaper story about parking lot prices and whether government should intervene to control them. Next students play the role of parking lot managers i...
Grade: 9-12

Lesson 2: Who Decides?
Economies in Transition: Command to Market
Members of the class play roles in two different economic systems. Some are central planners of a command economy; others are resource owners and producers in a market economy. Both groups are given the same endowment of resourc...
Grade: 9-12

Lesson 3: A Tale of Two Countries
Economies in Transition: Command to Market
In this lesson, students use time lines and fact sheets to compare the historical development, both political and economic, in two former Soviet republics. Based on their analyses, they draw conclusions about the historical exper...
Grade: 9-12

Lesson 4: Klips And Kupons
Economies in Transition: Command to Market
The students participate in the Klips and Kupons simulation. During the simulation, they discover how a change in the money supply can cause changes in the price level. They formalize this discovery by relating the equation of e...
Grade: 9-12

Lesson 5: Economic Transition: The Role of the State
Economies in Transition: Command to Market
Students in small groups, write the rules of a simple game - Tic-Tac-Toe. They then consider the more complicated rules and regulations appropriate for a market economy. Students examine legislation designed to move some agricul...
Grade: 9-12

Lesson 6: All for One, One for All - Well Maybe: Problems Within a Tightly Controlled Industrial Structure
Economies in Transition: Command to Market
Students engage in two simulations. The first simulation introduces the concept of monopoly. Students discuss the consequences of monopolistic markets. In the second simulation, students experience the effects of price controls ...
Grade: 9-12

Lesson 7: The Money Maze
Economies in Transition: Command to Market
In this lesson, students use "greenbacks" to purchase the spring for a ballpoint pen from the teacher. They are required to use the pen to complete a worksheet. In order to purchase the spring, they must find someone in the scho...
Grade: 9-12

Lesson 8: Public to Private
Economies in Transition: Command to Market
Students analyze proposals to privatize the public school system in the United States. Students then consider the difficulties of privatization of state property in the Baltics, eastern Europe and the republics of the former Sovi...
Grade: 9-12

Lesson 9: Worker Woes: Labor Transition Challenges
Economies in Transition: Command to Market
Students examine unemployment rates in the United States and the former Soviet Union. Students learn how employment was managed in the former Soviet Union. They also learn about the sources of unemployment in the U.S. The diffi...
Grade: 9-12

Lesson 10: Market or Command: Which Is Best for the Environment?
Economies in Transition: Command to Market
Members of the class play the roles of entrepreneurs in a market economy and managers in a command economy. They make decisions about how to make their product, widgets, given information on cost and availability of the resources...
Grade: 9-12

Lesson 1: The Legacy of Soviet Communism
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
A lecture, a reading, a simulation, and a research assignment are used to describe the record of Soviet communism and its effects on transition economics formerly in the Soviet bloc.
Grade: 9-12

Lesson 2: Different Paths to Reform: Case Studies of Poland, China, and Russia
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students read a case study on a country in transition from a command to a market economic system (Poland, China, or Russia). In groups students compare their findings.
Grade: 9-12

Lesson 3: Political and Economic Freedoms
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students participate in a teacher-led class discussion, view visuals, and analyze a figure showing the relationship between economic liberalization and economic growth.
Grade: 9-12

Lesson 4: How to Privatize?
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
By reference to property rights, students discuss the solution to the problem of the mess in the school cafeteria. They work in cooperative groups to identify advantages and disadvantages of alternative approaches to privatizatio...
Grade: 9-12

Lesson 5: Monopoly Is Not Just a Game
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students learn about the benefits of competition through a group activity, a U.S. case study, and a Russian case study.
Grade: 9-12

Lesson 6: Why Trade?
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students participate in two rounds of a trading simulation, comparing severely restricted trade under the dictates of a central planner with open or global trade. They read a short article spelling out benefits of trade for trans...
Grade: 9-12

Lesson 7: Why Middlemen Matter: The Role of Financial Institutions in a Market Economy
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students participate in a simulation and analyze two case studies emphasizing the importance of the development of financial institutions in the transition economies.
Grade: 9-12

Lesson 8: Resisting the Siren Song of Inflation
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students participate in a simulation, use a demonstration to illustrate the causes of inflation, and apply their new knowledge about the transition economies by answering questions related to two readings.
Grade: 9-12

Lesson 9: Brother, Can You Spare a Ruble?
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
Students are introduced to business cycles through a classroom demonstration in which students are employed and unemployed. Students analyze data and think critically about why the transition economies experienced economic declin...
Grade: 9-12

Lesson 10: Distribution of Income: Different Ways to Slice the Pie
From Plan to Market: Teaching Ideas for Social Studies, Economics, and Business Classes
In this lesson, students investigate some of the advantages and disadvantages of market and command economic systems by participating in a simulation and reading about the experiences of people living in Ukraine in 1997. The pain...
Grade: 9-12

Lesson 1 - The Path Not Taken
Focus: Middle School Economics
Students create a decision/opportunity cost flowchart for Madam C. J. Walker.
Grade: 6-8

Lesson 2 - Give and Take
Focus: Middle School Economics
After reading about a problem, students identify alternative solutions, trade-offs make in choosing each alternative, and the opportunity cost of selecting each option. Students describe trade-offs and create a graphic to represe...
Grade: 6-8

Lesson 3 - To Market, Which Market?
Focus: Middle School Economics
In this lesson, students consider how markets gave changed throughout history, describe the markets where they exchange goods and services, and predict new markets that may develop.
Grade: 6-8

Lesson 4 - How Many Will You Buy?
Focus: Middle School Economics
In this lesson students participate in an activity to establish a demand schedule for a product. They discuss the relationship between price and quantity, graph demand, and conduct a market survey.
Grade: 6-8

Lesson 5 - Demand Shifters
Focus: Middle School Economics
This lesson gives students the opportunity to study the nonprice determinants of demand and their effect on the demand for products.
Grade: 6-8

Lesson 6 - Inflation
Focus: Middle School Economics
In this lesson, students participate in two auction rounds to learn about inflation.
Grade: 6-8

Lesson 7 - The T-riffic T's Company: Production Decisions
Focus: Middle School Economics
Students help the managers of a T-shirt company make business decisions about the production process. They analyze the costs and benefits of investing in new capital equipment in order to increase productivity.
Grade: 6-8

Lesson 8 - How Many Should We Sell?
Focus: Middle School Economics
Students learn to predict the impact on supply of nonprice determinants and to differentiate between changes in supply and changes in quantity supplied.
Grade: 6-8

Lesson 9 - The Profit Puzzle
Focus: Middle School Economics
Students help Pierre determine which items to continue to sell in his bakery, based on identifying the most profitable items. The concepts are reinforced as students make similar decisions for opening a school snack bar.
Grade: 6-8

Lesson 10 - Where Does the Money Go?
Focus: Middle School Economics
Students look at the categories of federal spending, discuss them, and calculate the percentage of spending in each category.
Grade: 6-8

Lesson 11 - Where Does the Money Come From?
Focus: Middle School Economics
Students look at the categories of federal taxation, discuss them, and calculate the percentage of total taxes collected in each category.
Grade: 6-8

Lesson 12 - What Does the Nation Consume?
Focus: Middle School Economics
Students look at their consumption of goods and services in a day. Then, they consider household spending for the nation as a portion of Gross Domestic Product.
Grade: 6-8

Lesson 13 - An Island Economy
Focus: Middle School Economics
Students participate in a "readers' theater" play too learn about gross domestic product.
Grade: 6-8

Lesson 14 - No Free Lunch
Focus: Middle School Economics
Students use a decision tree to analyze a budget problem at a public school
Grade: 6-8

Lesson 15 - Savers And Borrowers
Focus: Middle School Economics
In this lesson, students encounter difficulties in lending and borrowing. They identify financial institutions as effective intermediaries in this process. In closure they discuss the role credit can have on the growth of a comm...
Grade: 6-8

Lesson 16 - Frontier Specialists
Focus: Middle School Economics
Using a simulation about frontier families, this lesson helps students gain a understanding of the benefits of specialization and how comparative advantage forms the basis for exchange in a market economy.
Grade: 6-8

Lesson 17 - Don't Fence Me Out! (Barriers To Trade)
Focus: Middle School Economics
Students explore the impact of various barriers to trade and determine who gains and who loses when trade barriers are imposed.
Grade: 6-8

Lesson 1- The First Economic Revolution
World History: Focus on Economics
The teacher explains four basic principles of economic reasoning, using a modern example. Students in groups then apply the same principles to understanding why some nomadic hunting/gathering groups may have shifted to a settled ...
Grade: 9-12

Lesson 2- Making Clothes And Houses Out Of Wheat
World History: Focus on Economics
Students participate in a simulation about an agricultural village in Neolithic times. The teacher debriefs the simulation, emphasizing relevant economic concepts.
Grade: 9-12

Lesson 3- Trade In Africa: 9th to 12th Centuries A.D.
World History: Focus on Economics
The teacher displays a visual showing the graphic regions and trade routes between North and West Africa. Students read a short passage and answer questions in class discussion. Students in groups calculate the efficiency of var...
Grade: 9-12

Lesson 4- How Did The Black Death Raise Living Standards In Europe?
World History: Focus on Economics
The teacher displays a visual showing information on the effects of the Black Death in Europe. Students then read two short passages describing the relationship of landlord and serf in England in the years before and after the Bl...
Grade: 9-12

Lesson 5- Why Didn't China Discover The New World?
World History: Focus on Economics
Students in small groups discuss reasons why a nation might sponsor voyages of exploration. The teacher displays and discusses a visual showing several innovations of importance to ocean exploration that appeared in China well be...
Grade: 9-12

Lesson 6- The Decline of Spain
World History: Focus on Economics
Students work in small groups to study the Spanish economy in the 16th century and draw conclusions for developing nations today.
Grade: 9-12

Lesson 7- The Great Tulip Boom
World History: Focus on Economics
The teacher displays a transparency comparing the prices of many goods in the 1600s in the Netherlands to prices paid for rare tulip bulbs during the Great Tulip Boom of the 1630s. Students perform a simulation of the boom and wr...
Grade: 9-12

Lesson 8- Adam Smith And The Market Economy
World History: Focus on Economics
Students read a passage describing Adam Smith's concept of individual self-interest. Next, groups of students act as competitive producers or as investors in a simulation. Finally, they answer in writing several questions design...
Grade: 9-12

Lesson 9- The Industrial Revolution
World History: Focus on Economics
Students read an introduction to the economic aspects of the Industrial Revolution, then work in small groups to develop lists of factors that encourage innovation. After class discussion of the lists, students analyze descriptio...
Grade: 9-12

Lesson 10- How The Industrial Revolution Raised Living Standards
World History: Focus on Economics
The teacher conducts a brief simulation that illustrates how specialization and division of labor and improvements in capital goods increase productivity. The teacher displays a visual that shows other sources of increases in pro...
Grade: 9-12

Lesson 11- Japan's Economic Miracle
World History: Focus on Economics
Students are introduced to a mystery about Japan's economic growth. They read a passage about economic growth and take part in a group discussion of how several facts of Japanese history are related to Japan's economic growth aft...
Grade: 9-12

Lesson 12- The Fall Of Communism
World History: Focus on Economics
Students read two passages describing life in the U.S.S.R. prior to its dissolution in 1991 and in small groups, analyze how the incentives present in the Soviet economy before the recent market reforms affected the performance of...
Grade: 9-12

Lesson 1: Where in the World?
Geography: Focus on Economics
Students participate in a bingo-type game to learn the national capitals of countries exporting specific resources and products, use prior knowledge and atlases to identify the countries involved, and locate both the countries and...
Grade: 9-12

Lesson 2: Where Do You Shop?
Geography: Focus on Economics
Students use road maps to measure distances traveled to purchase specific goods and services, calculate average distances, and rank goods from shortest to longest distances traveled. They discuss the survey and its limitations, a...
Grade: 9-12

Lesson 3: Why Nations Trade
Geography: Focus on Economics
Students read and discuss a narrative about international trade that focuses on opportunity cost and the principle of comparative advantage. Then the class is divided into four groups, each representing a different country. They...
Grade: 9-12

Lesson 4: International Interdependence
Geography: Focus on Economics
Students provide information about foreign-made goods that they and their families have purchased, and a master list is compiled. Then they hypothesize reasons why people buy goods made in other countries, and these reasons are a...
Grade: 9-12

Lesson 5: Money Around the World
Geography: Focus on Economics
Students participate in one of two class auctions so that they may experience firsthand how prices are determined in different markets.
Grade: 9-12

Lesson 6: Limiting Trade
Geography: Focus on Economics
Students read narrative describing various types of trade restrictions and their effects, engage in a circle debate about the imposition of a new tariff, evaluate the arguments in favor of and against the tariff, and apply the mod...
Grade: 9-12

Lesson 7: Places and Production
Geography: Focus on Economics
Students calculate United States GDP and GDP per capita, use of choropleth map to acquire information, and create choropleth maps of GDP per capita in South America. They identify regions with high and low DGP per capita and sug...
Grade: 9-12

Lesson 8: GDP and Life Expectancy
Geography: Focus on Economics
Students construct choropleth maps based on a number of economic and social variables, then analyze the relationships among the variables. They describe the characteristics of countries with high and low GDP per capita, identify ...
Grade: 9-12

Lesson 9: Population Pyramids
Geography: Focus on Economics
Students are introduced to demographic data and population pyramids using the 1990 Census of the United States. They are then organized into small groups, and each group is given population data for a community, asked to construc...
Grade: 9-12

Lesson 10: Which State is the Largest?
Geography: Focus on Economics
Students create cartograms showing state populations and gross state products, then describe and analyze the results. Using Population Per Square Mile and Gross State Product Per Capita, they then identify regions of high populat...
Grade: 9-12

Lesson 11: The Lancaster Landfill
Geography: Focus on Economics
Students participate in a simulated town meeting called to consider proposed solutions to the problem of groundwater contamination. Hazardous waste accumulated in a landfill over many years is creating the problem. The landfill ...
Grade: 9-12

Lesson 12: Geo-Poems and Eco-Poems
Geography: Focus on Economics
Students write a Geo-Poem or an Eco-Poem describing a city or country, share their poems in small groups, select the best poem in each group to share with the class, discuss differences between geographic and economic perspectives...
Grade: 9-12

Lesson 1 - Decision Making: Scarcity, Opportunity Cost, and You
Personal Decision Making: Focus on Economics
Students participate in a group activity that illustrates the concepts of scarcity, opportunity cost, trade-offs, and consequences.
Grade: 9-12

Lesson 2 - Applying a Decision-Making Model: You and Your Future
Personal Decision Making: Focus on Economics
Students participate in a group activity using the decision-making grid. They learn why two individuals may reach different decisions even when they use an identical decision-making model. This lesson helps students appreciate d...
Grade: 9-12

Lesson 3 - Planning and Goal Setting: Can You Get There From Here?
Personal Decision Making: Focus on Economics
This lesson is in two parts. Part I focuses on how to set goals. Part II focuses on the influence goal setting has on exploring careers. Each part of the lesson can stand alone or can be used with Lesson 4, A Student's Potentia...
Grade: 9-12

Lesson 4 - A Student's Potential in the Labor Market: It's a Matter of Supply and Demand
Personal Decision Making: Focus on Economics
Students engage in two labor market simulations. One market is characterized by high wages and specific skill requirements; the other is characterized by low wages and low skill requirements. Students evaluate their own skills a...
Grade: 9-12

Lesson 5 - Price As A Rationing Method: How Does A Market Work?
Personal Decision Making: Focus on Economics
Students use the price mechanism to allocate scarce goods and one good which may not be scarce.
Grade: 9-12

Lesson 6 - Financial Planning: Budgeting Your Financial Resources
Personal Decision Making: Focus on Economics
Students participate in a motivational activity in which they evaluate the costs and benefits of impulse buying and its effect on living on a limited income. After they analyze a sample budget, students develop their own budget t...
Grade: 9-12

Lesson 7 - Business Decision Making: Are They Out to Get You?
Personal Decision Making: Focus on Economics
This lesson helps students understand that businesses must consider the cost of producing their products and how those costs affect their profits. Many teachers form elaborate classroom corporations in order to help their student...
Grade: 9-12

Lesson 8 - The Role of Government: Who Needs It?
Personal Decision Making: Focus on Economics
Students view transparencies showing (1) a comic strip featuring a teenage taxpayer and (2) data on sources of federal government receipts. They participate in a group activity where they decide where the federal government shoul...
Grade: 9-12

Lesson 9 - Collective Bargaining: A Negotiation Simulation
Personal Decision Making: Focus on Economics
Students will form labor and management teams to negotiate a contract. Two bargaining sessions take place, at the end of which a contract is negotiated or a strike or a lockout occurs.
Grade: 9-12

Lesson 10 - Consumer Credit: Buy Now, Pay Later, and More
Personal Decision Making: Focus on Economics
Through group activity, students analyze the costs and benefits of using credit cards to purchase goods and services.
Grade: 9-12

Lesson 11 - Housing: Deciding to Rent or Buy
Personal Decision Making: Focus on Economics
Students begin by learning to apply the decision-making process to a major purchasing decision, and they become acquainted with how to use a decision making grid. Next, students will participate in a simulation in which they are ...
Grade: 9-12

Lesson 12 - Advertising: Is Consumer Sovereignty Dead?
Personal Decision Making: Focus on Economics
Students are introduced to different types of advertising as well as the role advertising plays in a modern economy. They participate in a simulation that confronts the influence that advertising has on their behavior as consumer...
Grade: 9-12

Lesson 13 - The Basic Questions of Health Care: What? Why? How?
Personal Decision Making: Focus on Economics
In a group activity, students use the decision-making process to analyze the costs and benefits of purchasing health care.
Grade: 9-12

Lesson 14 - Savings and Personal Investments: If You're So Smart, Why Aren't You Rich?
Personal Decision Making: Focus on Economics
Students view a transparency showing the difference between economics definitions and personal finance definitions of the terms capital and investment. They read and discuss a handout listing four basic rules for wise investment ...
Grade: 9-12

Lesson 15 - International Economics: Why Should You Care?
Personal Decision Making: Focus on Economics
Students study an exchange rate table found in a local newspaper, and answer questions about exchange rates and their fluctuation. They read a short article on how a depreciation of the dollar could affect American consumers, and...
Grade: 9-12

Lesson 1: What Is an Entrepreneur?
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define entrepreneurship; describe entrepreneurial attributes demonstrated by successful entrepreneurs; and, compare personal attributes with attributes generally common to successful entrepreneurs.
Grade: 9-12

Lesson 2: Scarcity: Everyone's Problem Is the Entrepreneur's Opportunity
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define and give examples of scarcity; distinguish between goods and services; define and give examples of productive resources; describe a situation that demonstrates how scarcity can create business ...
Grade: 9-12

Lesson 3: Consumers, Businesses, Entrepreneurs, and Governments Face Opportunity Costs
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define opportunity cost; explain why every choice has a cost; describe several personal economic choices and the opportunity costs involved; analyze economic choices commonly made by businesses to det...
Grade: 9-12

Lesson 4: Successful Entrepreneurs Make Rational Choices
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define rational choice; explain why it is necessary for entrepreneurs to make rational choices; identify steps in a given decision-making model; demonstrate how the model can be used by entrepreneurs ...
Grade: 9-12

Lesson 5: Making Things Entrepreneurs Sell
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define and give examples of four functional activities of business; define and give examples of the four factors of production; demonstrate how the four factors of production can be combined to produc...
Grade: 9-12

Lesson 6: Entrepreneurship in Different Economic Systems
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define economic system; explain why all countries have an economic system; identify basic characteristics of a market economy and our mixed-market system; compare economic decision making in market an...
Grade: 9-12

Lesson 7: Entrepreneurship in Our Market System
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define and give examples of a competitive market; describe the functioning of competitive markets, including the efficient allocation of resources, the production of goods and services society wants m...
Grade: 9-12

Lesson 8: Entrepreneurial Behavior in Other Settings
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define and give examples of intrapreneurship; distinguish between entrepreneurship and intrapreneurship; interpret graphs and trends regarding entrepreneurial opportunities for individuals; evaluate a...
Grade: 9-12

Lesson 9: The Circular Flow Between Consumers and Entrepreneurs
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify components of the circular-flow diagram; trace the flows of goods and services, factors of production, and money through the circular flow; explain how households and businesses are both buye...
Grade: 9-12

Lesson 10: The Nature of Consumer Demand
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will interpret a demand schedule for a given good or service; state the law of demand in their own words; collect and analyze data on sales of a particular product; predict the demand for a particular prod...
Grade: 9-12

Lesson 11: What Causes Change in Consumer Demand?
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify the determinants of demand; determine those determinants of demand that can be more easily influenced by entrepreneurs and those over which entrepreneurs have little or no control; demonstrat...
Grade: 9-12

Lesson 12: Entrepreneurs Supply Goods and Services
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will interpret a supply schedule; state the law of supply in their own words; use data on prices to predict an increase or decrease in the quantity of a product entrepreneurs are willing to supply; determi...
Grade: 9-12

Lesson 13: What Causes Entrepreneurs To Change the Quantity of Goods and Services Offered for Sale?
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify and give examples of determinants of supply; distinguish between instances of change in supply and instances of change in the quantity supplied; predict the effects on an entrepreneurial ente...
Grade: 9-12

Lesson 14: Entrepreneurs and Equilibrium
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define equilibrium, equilibrium price, surplus, and shortage; use data on the demand and supply of a product to determine the equilibrium price; distinguish between pricing situations that would resul...
Grade: 9-12

Lesson 15: Entrepreneurs and Changing Prices
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will predict the effects of selected events on the demand, supply, and equilibrium price for specific products; predict the effects of changes in the equilibrium price of a product on markets for complemen...
Grade: 9-12

Lesson 16: Entrepreneurs, Pricing Strategies, and Marketing Goals
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will distinguish between various pricing strategies, including loss-leader pricing, penetration pricing, skimming pricing, and variable pricing; evaluate different pricing strategies used by entrepreneurs ...
Grade: 9-12

Lesson 17: Sources of Information for Entrepreneurs
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify sources of market information that are available to entrepreneurs; explain why market information is important to entrepreneurs; evaluate various sources of market information; use market inf...
Grade: 9-12

Lesson 18: Entrepreneurs Choose Different Types of Business Organization
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify characteristics of the following forms of business organization: sole proprietorship, partnership, and corporation; compare forms of business organization to decide which is most appropriate ...
Grade: 9-12

Lesson 19: Financing the Entrepreneurial Enterprise
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will explain why entrepreneurs need adequate financing to be successful; identify possible sources of financing for entrepreneurs; cit factors that influence the cost of financing an entrepreneurial enterp...
Grade: 9-12

Lesson 20: How Can Entrepreneurs Control Costs?
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will distinguish between examples of fixed and variable costs; predict changes in a firm's costs based on data provided; collect and analyze data on fixed and variable costs for providing a specific produc...
Grade: 9-12

Lesson 21: When Should an Entrepreneur Offer More Products for Sale?
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define marginal cost; define marginal revenue; give examples of situations that illustrate the relationship between marginal cost, marginal revenue, and diminishing returns; recommend changes in suppl...
Grade: 9-12

Lesson 22: Cash Flow and the Successful Entrepreneur
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify the opportunity costs of various alternatives available to entrepreneurs for maintaining or improving cash flow; based on the data provided, determine the causes and consequences of cash flow...
Grade: 9-12

Lesson 23: How Entrepreneurs Use Credit
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will distinguish between consumer credit and commercial credit; give examples of ways entrepreneurs may use credit as a marketing tool; compare the costs and benefits of the different practices entrepreneu...
Grade: 9-12

Lesson 24: Entrepreneurs Buy Raw Materials, Tools, and Labor
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will distinguish between primary demand and derived demand; relate the concepts of primary demand and derived demand to the circular flow; use data provided to decide how many workers a hypothetical entrep...
Grade: 9-12

Lesson 25: How Entrepreneurs Measure Productivity
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define productivity; explain and give examples of diminishing marginal productivity; determine if a particular action on the part of a business firm will result in an increase in productivity; predict...
Grade: 9-12

Lesson 26: Human Resource Management: The Entrepreneur's Perspective
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will describe costs associated with employee absenteeism, apathy, and turnover; identify alternatives available to entrepreneurs for solving specific human resource management problems; evaluate the altern...
Grade: 9-12

Lesson 27: The Entrepreneur and Market Structure
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will compare the behavior of firms in markets characterized by perfect competition and markets characterized by imperfect competition; describe costs and benefits of doing business in competitive markets; ...
Grade: 9-12

Lesson 28: Entrepreneurs Differentiate Their Businesses from the Competition
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify benefits entrepreneurs expect to realize by differentiating their business from the competition; evaluate various methods of product differentiation used by entrepreneurs; recommend steps a h...
Grade: 9-12

Lesson 29: The Innovative Process: How Entrepreneurs Develop New Ideas
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify steps in the innovative process, which organizes and encourages the development and use of new ideas; apply steps in the innovative process to find creative ways of resolving a specific probl...
Grade: 9-12

Lesson 30: The Costs and Benefits of Innovation
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will determine how specific management functions are applied in the innovative process; recommend a course of action a hypothetical entrepreneur should take to accomplish previously established objectives;...
Grade: 9-12

Lesson 31: Government and the Entrepreneur
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify examples of government goods and services; describe methods the government uses to finance programs that provide government goods and services; determine ways government programs affect entre...
Grade: 9-12

Lesson 32: Government Policies, the Economy, and the Entrepreneur
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify and describe examples of federal, state, and local government policies, including fiscal policy and tax incentives, that influence entrepreneurs; evaluate specific government policies in term...
Grade: 9-12

Lesson 33: Changing Economic Conditions Affect Entrepreneurs
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will define inflation, recession, and business cycle; identify leading economic indicators; state implication of changes in certain leading economic indicators for hypothetical entrepreneurial enterprises;...
Grade: 9-12

Lesson 34: Successful Entrepreneurs Develop Their Own Human Capital
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will review important characteristics of successful entrepreneurs; distinguish between formal and informal education; explain the relative advantage various entrepreneurs possess that helped them develop t...
Grade: 9-12

Lesson 35: You and Entrepreneurial Skills
Entrepreneurship in the U.S. Economy: Teacher Resource Manual
In this lesson, students will identify at least three major costs and three major benefits of becoming an entrepreneur; explain why different people may view the costs and benefits of becoming and entrepreneur differently; identif...
Grade: 9-12

Unit 1: Lesson 1 - Wants from A to Z!
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students produce an alphabet big book as they learn that economic wants are things people would like to have.
Grade: K-2

Unit 1: Lesson 2 - Consumer Reflections
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students view a very special consumer and produce life-size silhouettes as they learn that consumers use goods and services to satisfy their wants.
Grade: K-2

Unit 1: Lesson 3 - Foods Around the World
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students prepare and taste foods from around the world as they learn about the different goods and services used by consumers around the world.
Grade: K-2

Unit 1: Lesson 4 - Learning Center: Winning Wants
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students construct a winner's ribbon as they complete sentences describing many ways to satisfy a want.
Grade: K-2

Unit 1: Lesson 5 - People Movers Bulletin Board
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students draw and collect pictures and build clay models of consumer transportation as they create a bulletin board display of transportation services people consume.
Grade: K-2

Unit 2: Lesson 6 - Mystery Workers
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students play a questioning game as they learn that producers use their human resources by working in jobs to make goods and services.
Grade: K-2

Unit 2: Lesson 7 - Gifts from Nature
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students read a book about a tree, take a walk around the neighborhood, and produce books as they learn about natural resources.
Grade: K-2

Unit 2: Lesson 8 - Producer Charades
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students create charades representing services performed in their classroom and later apply for and "hired" to produce these services.
Grade: K-2

Unit 2: Lesson 9 - Learning Center: Producer Pigs
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students hear a version of The Three Little Pigs and participate in a learning center which reinforces the concepts of natural, human, and capital resources.
Grade: K-2

Unit 2: Lesson 10 - Bulletin Board: Art Gallery
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students combine natural, human, and capital resources to produce "art masterpieces" which they display in a bulletin board gallery.
Grade: K-2

Unit 3: Lesson 11 - Alligator Annie and the Scarcity Adventure
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students help Alligator Annie solve scarcity problems in her around the world adventures.
Grade: K-2

Unit 3: Lesson 12 - Opportunities for Appreciation
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students learn about choice and opportunity cost as they use their scarce resources to produce gifts of appreciation for workers in their school.
Grade: K-2

Unit 3: Lesson 13 - We Decide...
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students choose from a set of group activities as they learn to make decisions, identify opportunity cost, and evaluate their choices.
Grade: K-2

Unit 3: Lesson 14 - Learning Center: Choice Train
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students practice making choices and identifying their opportunity costs as they fill their wants from the Choice Train cars.
Grade: K-2

Unit 3: Lesson 15 - Scarcity Bulletin Board: Balloon Trip
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students take a make-believe balloon trip to places far away as they create a bulletin board display depicting scarcity and opportunity cost.
Grade: K-2

Unit 4: Lesson 16 - An Interdependent Bunch
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students create a bunch of balloon grapes to illustrate the concept that they make a "great bunch" of interdependent workers.
Grade: K-2

Unit 4: Lesson 17 - Spotlight on Specialists
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students specialize in producing goods and services as they prepare for specialized resource speakers.
Grade: K-2

Unit 4: Lesson 18 - The Baker Wants a Pair of Shoes
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students sing an interdependence song and create their own new verses.
Grade: K-2

Unit 4: Lesson 19 - Learning Center: School Connections
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students learn that the school has specialized workers upon whom they depend while they are at school.
Grade: K-2

Unit 4: Lesson 20 - Bulletin Board: Showcasing Specialists
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students create a bulletin board of their artwork depicting themselves and others as specialized workers.
Grade: K-2

Unit 5: Lesson 21 - His Barter is Worse Than His Bite!
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students read the story of Dan Dog and his want for a toy bear as they learn that when people trade, they expect to be better off as a result.
Grade: K-2

Unit 5: Lesson 22 - Birthday Barter
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students exchange make-believe birthday presents as they learn that people can trade by barter or with money and that money makes trade easier.
Grade: K-2

Unit 5: Lesson 23 - To Market, To Market
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students construct and play a shopping game as they learn that markets are places where things are bought and sold.
Grade: K-2

Unit 5: Lesson 24 - Puppet Show: Pinky's New Bow Tie
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students produce a puppet show as they review the economic concepts from Lesson 1-23.
Grade: K-2

Unit 5: Lesson 25 - Bulletin Board: Teddy Bear Picnic
Master Curriculum Guides in Economics: Teaching Strategies - K-2
Students prepare for and participate in a picnic with their teddy bears as they learn about markets and prices.
Grade: K-2

Lesson 1: Entrepreneurs - then and now
Master Curriculum Guide: Economics and Entrepreneurship
The American free enterprise economic system encourages individuals to take the risk of starting new businesses. A recent study indicates that approximately 8,000 new businesses are started every week in the United States.
Grade: 9-12

Lesson 2: Can I be an entrepreneur?
Master Curriculum Guide: Economics and Entrepreneurship
Entrepreneurs tend to exemplify some unique "packages" of characteristics that tend to distinguish them from other people in the economy. Their principal motivation is the need for achievement coupled with a strong desire for ind...
Grade: 9-12

Lesson 3: What does the entrepreneur need to know?
Master Curriculum Guide: Economics and Entrepreneurship
Besides having certain personality and physiological characteristics, such as independence and a high energy level, the successful entrepreneur must generally also have some knowledge of business practices and procedures before st...
Grade: 9-12

Lesson 4: Have you ever had to make up your mind? (scarcity)
Master Curriculum Guide: Economics and Entrepreneurship
Scarcity is the central economic problem. It exists because of our limited ability to produce goods and services to satisfy our unlimited wants. We can make as many goods and services as we want because there is a finite amount ...
Grade: 9-12

Lesson 5: The role of entrepreneurs in our economy
Master Curriculum Guide: Economics and Entrepreneurship
Societies develop economic systems to provide a structure for determining how limited resources will be used to meet the unlimited wants of their members. To date societies have developed three basic types of economic systems: t...
Grade: 9-12

Lesson 6: Markets in the circular flow of the economy
Master Curriculum Guide: Economics and Entrepreneurship
In the United States, all firms exist within the context of our economic system, which economists represent with a circular flow model. In this mode, businesses sell goods and services to households in the product market. The mo...
Grade: 9-12

Lesson 7: What is an entrepreneurial innovation?
Master Curriculum Guide: Economics and Entrepreneurship
Entrepreneurs use innovation as a tool to effect change and to develop better products, services, and processes that are wanted by others. Innovation is a driving force for change and is given birth by inventors. It is the entre...
Grade: 9-12

Lesson 8: The effects of entrepreneurial innovation on the economy
Master Curriculum Guide: Economics and Entrepreneurship
Successful entrepreneurial opportunities affect other entrepreneurial ventures. In fact, some entrepreneurial opportunities are the result of the action of other entrepreneurs. No entrepreneur operates in a vacuum.
Grade: 9-12

Lesson 9: How much are consumers willing to pay? (demand)
Master Curriculum Guide: Economics and Entrepreneurship
Although the primary objective in running a business is to earn a profit, this is impossible if no one wants to buy the product being offered. Entrepreneurs need to know how many products they will be able to sell at various pric...
Grade: 9-12

Lesson 10: How much should I produce? (supply)
Master Curriculum Guide: Economics and Entrepreneurship
Entrepreneurs produce and offer products for sale when they have the expectation of earning a profit. This expectation depends on the price that can be charged for their products and on their costs of production.
Grade: 9-12

Lesson 11: What's the right price? (market equilibrium)
Master Curriculum Guide: Economics and Entrepreneurship
Entrepreneurs exist in markets made up of consumers who demand the products that firms supply. The price that competitive firms are able to charge is determined by the interaction of market demand and supply.
Grade: 9-12

Lesson 12: Profits and entrepreneurship
Master Curriculum Guide: Economics and Entrepreneurship
People become entrepreneurs for many reasons, including the desire to earn a profit. A commonly used measure of profit is the difference between a firm's revenue and its costs. Such as simple definition can be misleading if it e...
Grade: 9-12

Lesson 13: What type off business should I start?
Master Curriculum Guide: Economics and Entrepreneurship
As each entrepreneur makes the decision to start a business, he or she must also decide what type of business organization will be most advantageous for the new business. There are three types of business organizations: sole pr...
Grade: 9-12

Lesson 14: Borrowing decisions and expected returns
Master Curriculum Guide: Economics and Entrepreneurship
Entrepreneurs must possess or have access to funds to start their businesses. They may use their own funds; get others to give them funds for a share of the business and claims on future profits (equity financing); or they may bo...
Grade: 9-12

Lesson 15: Competitive markets
Master Curriculum Guide: Economics and Entrepreneurship
Most entrepreneurs with small businesses operate in markets that are characterized by a high level of competition. This is the result of the relatively low cost and ease of starting such businesses. Competitive firms have little...
Grade: 9-12

Lesson 16: The demand for labor
Master Curriculum Guide: Economics and Entrepreneurship
In order to earn a profit, entrepreneurs purchase a combination of the factors of production, which are used to produce goods and services that are supplied to the market. The greatest cost of production for many firms is the cos...
Grade: 9-12

Lesson 17: Entrepreneurs and government intervention
Master Curriculum Guide: Economics and Entrepreneurship
All firms exist within the context of society and its governmental system. Business activity certainly can contribute to the goals of society. On the other hand, the interests of society sometimes can conflict with those of indi...
Grade: 9-12

ONLINE LESSONS

FRED and the Federal Budget Interactive Lesson
Students will use a Federal Reserve Economic Data (FRED) data dashboard to calculate budget deficits, surpluses, how much federal budgets in certain budget years added to the total public debt, and gross federal debt as percent of...
Grade: 9-12

Learning Economics with Minecraft: Productive Resources
Economies depend on the availability of resources. This lesson introduces the concept of productive resources to students through discussion. Students learn how the use of natural, human, and capital resources impacts outcomes whi...
Grade: 3-5

Learning Economics with Minecraft: Choices, Costs and Benefits
Students will explore making choices by evaluating the costs and benefits and identifying the opportunity cost of decisions in the real world and by building in Minecraft. This lesson is also posted on Minecraft Education's w...
Grade: 3-5

Beatrice's Goat
This lesson from the Federal Reserve Bank of St. Louis' EconLowdown site teaches students what it means to save and reach savings goals through the book Beatrice's Goat by Page McBrier.
Grade: 3-5

That's the Ticket: The Economics of Ticket Scalping
Students will learn that anti-scalping laws effectively impose price ceilings. Students will apply their knowledge of supply, demand, market prices, voluntary trade and price ceilings to analyze this market.
Grade: 9-12

AP Microeconomics - Marginal Analysis
This lesson from [EEL-link id='5227' title='Advanced Placement Microeconomics (4th Edition)' ]demonstrates how marginal analysis is used by economists to make allocation decisions. Students evaluate real-life situations and determ...
Grade: 9-12

AP Microeconomics - Resource Allocation
This lesson supports the Nature and Function of Product Markets section of the Advanced Placement Microeconomics Curriculum. In this lesson, students learn how to analyze the effects of a change in demand or supply in one market o...
Grade: 9-12

AP Microeconomics - Monopoly
This lesson supports the Theory of the Firm section of the Advanced Placement Microeconomics curriculum. Students will learn in this lesson that the profit-maximization rules for the monopoly are the same as they are for a perfect...
Grade: 9-12

AP Microeconomics - Competition versus Monopsony in Labor Markets
This lesson supports the Factor Markets section of the Advanced Placement Microeconomics curriculum. In this lesson, students are introduced to monopsony in labor markets. This lesson appears as Lesson 2 in Unit 4: Factor Markets...
Grade: 9-12

AP Microeconomics - When Markets Fail
This lesson supports the Market Failure and the Role of Government section of the Advanced Placement Microeconomics curriculum. Students need to understand the conditions under which a competitive market fails to produce the socia...
Grade: 9-12

AP Macroeconomics - The Business Cycle: Introduction to Macroeconomic Indicators
Bell Ringer: Ask students how they think the economy is doing right now -- is it "up" or "down"? You can get an idea of where the economy is (i.e., the phase of the business cycle) at http://www.nber.org/cycles...
Grade: 9-12

AP Macroeconomics - Short-Run Equilibrium and Changes in AS/AD
This lesson supports the National Income and Price Determination section of the Advanced Placement Macroeconomics course. The focus of this lesson is on short-run equilibrium in the AS/AD model and the changes in real GDP and...
Grade: 9-12

AP Macroeconomics - The Money Market and the Loanable Funds Market
This lesson supports the Financial Sector section of the Advanced Placement Economics course. It introduces students to the money market and loanable funds market. These two markets are used later to explain the effects of monetar...
Grade: 9-12

AP Macroeconomics - The Deficit and the Debt
This lesson supports the Inflation, Unemployment, and Stabilization Policies section of the Advanced Placement Macroeconomics course. It introduces government budget deficits and the national debt and analyzes the long-run effects...
Grade: 9-12

AP Macroeconomics - Net Exports and Capital Flows
This lesson supports the Open Economy: International Trade and Finance section of the Advanced Placement Macroeconomics course. This lesson introduces net capital flows and examines their effect on the macroeconomy through the loa...
Grade: 9-12

Behavioral Economics Lesson Two: The Anchoring Effect
COMPELLING QUESTION Can arbitrary numbers stick in our minds and affect our decision making? Students will participate in a trading game in which students are either a buyer or seller in a market. In this market students will be...
Grade: 9-12

Behavioral Economics Lesson Five: Other Things Matter
COMPELLING QUESTION Under what circumstances do people not behave like rational Econs? Students will participate in a version of the classic behavioral economics experiment entitled the Ultimatum Game. The class will be divided ...
Grade: 9-12

Behavioral Economics Lesson One: Introduction to Behavioral Economics
COMPELLING QUESTION Do people always make economics decisions by strictly weighing the costs and benefits of each alternative? This lesson introduces students to some of the basic concepts addressed in behavioral economics. ...
Grade: 9-12

Behavioral Economics Lesson Three - Loss Aversion, Endowment Effects, and Default Bias
COMPELLING QUESTION Why don’t we always choose the best option when making a decision? The lesson presents three short illustrations of how people may not always make decisions by weighing the costs and benefits of the alt...
Grade: 9-12

Behavioral Economics Lesson Four - Why Are We So Impatient?
COMPELLING QUESTION: Why do people tend to procrastinate when it comes to doing things that are good for them? Students observe a “mind” that tries to decide whether to exercise or not. They see how discounting can ch...
Grade: 9-12

How to Use the Behavioral Economics Lessons
This note from one of our behavioral economics authors, William Bosshardt, Florida Atlantic University, explains how these behavioral economics lessons are linked together and where they can be used in the high school curriculum.
Grade: 9-12

Sports Economics: Worshipping at the Altars of Adi, Phil and Kevin
Essential Question: How do entrepreneurship, competition, and specialization benefit consumers of athletic footwear and apparel? In order to gain a better understanding of the important role entrepreneurs play in a market economy,...
Grade: 9-12

Sports Economics: To Build or Not to Build
Essential Question: Why did the Atlanta Falcons and the City of Atlanta partner to build a new $1.4 billion dollar retractable-roof stadium?  On September 30, 2013 the Atlanta Falcons, the City of Atlanta, and the Georgia Wo...
Grade: 9-12

Sports Economics: The Mystery of the 2,333,232% Pay Raise
Students will use the "Handy Dandy Guide to Economic Thinking" to solve an economic mystery. Yasiel Puig left his home country of Cuba in 2012 to further his career as a professional baseball player in the United States....
Grade: 6-8, 9-12

THE U.S. SUGAR PROGRAM: A Matter of National Security or Corporate Welfare?
ESSENTIAL QUESTION: Is the U.S. Sugar Program a necessary defense against disruptive global trade practices or lavish corporate welfare at the expense of the American consumer and commerce? Government policies often impact the m...
Grade: 9-12

The Trans-Pacific Partnership (TPP): Are the Presidential Candidates Telling the Whole Story?
Compelling question: Are the presidential candidates telling the whole story about the Trans-Pacific Partnership (TPP)?
Grade: 9-12

Fiscal Ship Through the Lens of the Elections
Where does each party stand when it comes to fiscal management? In this lesson, students will analyze each major political party's platform to better understand their approaches to the federal budget and national debt.  Stud...
Grade: 9-12

Income Inequality
Students will utilize the Structured Academic Controversy method to explore the issue of income inequality in America. Through reading and civil discourse, a clear understanding of the concept and its causes will emerge. In additi...
Grade: 9-12

Party Platforms and Economic Issues
According to Gallup, Americans have considered the state of the economy "among the most important U.S. problems" since 2008. The issues frequently debated leading up to any presidential campaign include many economic issues such a...
Grade: 9-12

Campaign Finance
Compelling Question: In addressing the compelling question "Does money matter in political campaigns?" students work through a series of supporting questions, formative performance tasks, and featured sources in order t...
Grade: 9-12

Free Trade
Compelling Question: In addressing the compelling question “Is free trade worth the price?” students will work through a series of supporting questions, performance tasks, and sources in order to construct an argument...
Grade: 9-12

Minimum Wage / The Challenge of Living on it
COMPELLING QUESTION Should the federal government increase the federal minimum wage? Increasing the minimum wage is a controversial issue in the 2016 election. Students will understand contrasting arguments on the impact of rais...
Grade: 9-12

Federal Budget Lesson Plan and Fiscal Ship Student Game
What are the tradeoffs that policymakers face when steering the federal budget? To answer this question, students will grapple with the complexity of federal budget choices as they play The Fiscal Ship, a game created by the [E...
Grade: 9-12

Bunny Money
In this lesson, students listen to the story of Ruby and Max, two bunnies that go shopping and make many spending decisions. Students are introduced to short-term and long-term savings goals to help them save for goods they want...
Grade: K-2

Uncle Jed's Barbershop
Students listen to the book Uncle Jed's Barbershop, about an African American barber who, despite significant setbacks, saves enough money to buy his own barbershop. From the story, students learn about saving, savings goals, oppo...
Grade: 3-5

A Chair for My Mother
In the story, A Chair for My Mother, a little girl and her family save money in a jar to buy a chair after their furniture is destroyed in a fire. In this lesson, students will learn that characters in the book are human resources...
Grade: K-2, 3-5

Immigration
This lesson helps students better understand immigration, a major issue in the 2016 presidential election. Students learn how to evaluate economic and non-economic factors of immigration by assuming the roles of people who are aff...
Grade: 9-12

Balancing the Federal Budget
ESSENTIAL DILEMMA When, if ever, should the nation prioritize balancing the federal budget?
Grade: 9-12

Taxation and the National Debt
ESSENTIAL DILEMMA Is there a fair and efficient way to fund and maintain the public services we want?
Grade: 9-12

The Economics of National Security
ESSENTIAL DILEMMA How do we know if we are getting good value out of the money we spend on defense?
Grade: 9-12

Medicare and the National Debt
ESSENTIAL DILEMMA Can we guarantee quality health care to the elderly in a way that is both efficient and equitable?
Grade: 9-12

Social Security and the National Debt
ESSENTIAL DILEMMA What costs and trade-offs are we willing to accept to ensure the benefits of income security to Social Security recipients?
Grade: 9-12

Money and Elections
Students will be introduced to the sources of campaign war chests, learning about the recent court decisions that have allowed for the creation of "Super PACS" and 501 (c) (4) organizations. The exploration will turn to ...
Grade: 9-12

Broad Social Goals of an Economy
COMPELLING QUESTION Why do politicians disagree on economic issues -- isn't there one right answer? Students work in small groups and are assigned a version of diary excerpts written by a student intern working for a policym...
Grade: 9-12

Economic Misery and Presidential Elections
The students examine economic data in order to predict the results of presidential elections.
Grade: 9-12

CanElection Futures Markets be MoreAccurate thanPolls?
The students examine results from opinion polls conducted near the end of the 2012 presidential campaign. They compare results from several national polls to those of the Iowa Electronic Markets (hereafter, the IEM), an online fut...
Grade: 9-12

Public Choice Economics
Students participate in a series of classroom elections to analyze special-interest effects and see how the costs of voting and acquiring information about candidates or propositions on a ballot affect whether or not people vote, ...
Grade: 9-12

Margin Of Error
The lesson begins with an introduction to the use of polls in political campaigns. The students are introduced to the term "margin of error". The students participate in a sampling game in which they try to predict the proportion ...
Grade: 9-12

Voters and Elections
Students identify costs associated with voting. Then they make predictions about who might be more likely to vote based on their understanding of opportunity costs.
Grade: 9-12

Political Beliefs and the Federal Budget
ESSENTIAL DILEMMA Should political philosophy influence how we view the federal budget?
Grade: 9-12

Rhetoric
ESSENTIAL DILEMMA Is it convincing facts or effective rhetoric that determines what the public thinks about the debt and the deficit?
Grade: 9-12

The History of Social Security
ESSENTIAL DILEMMA: Social Security Act of 1935: Did the creation of a federally administered old-age pension program support or threaten American values and traditions?
Grade: 9-12

The History of Medicare
ESSENTIAL DILEMMA Medicare 1966: President Lyndon Johnson’s “American way” or Ronald Reagan’s “advance wave of socialism”?
Grade: 9-12

The Federal Reserve System: Overview Lesson
Because of its thematic importance, this lesson is not framed as an inquiry-driven dilemma, but instead, as a collection of resources that can be used as part of an informational lesson directed by the teacher or made available...
Grade: 9-12

The Panic of 1893 and the Election of 1896
ESSENTIAL DILEMMA Were the contradictory responses political leaders had to the panic of 1893 driven more by economic/political self-interest or by differing visions of what kind of country they wanted the United States to be?
Grade: 9-12

President Jackson and the Veto of the Second National Bank
ESSENTIAL DILEMMA Could the conflict over the Second National Bank have been resolved in a way that supported the values advocated by both President Jackson and Congress?
Grade: 9-12

Analyzing the Business Cycle with Piecewise Functions
Students will interpret the United States business cycle in terms of a piecewise function. They will analyze specific points, slopes, and relative extrema of different sections of the cycle and formulate equations that represent t...
Grade: 9-12

Inflation and Unemployment - Is There a Correlation?
Students view a video on inflation and are introduced to the concept of unemployment. They then utilize Excel to create scatterplots, regression line equations, and correlation coefficients (r) for inflation and unemployment data...
Grade: 9-12

Social Security, Governance, and the National Debt
ESSENTIAL DILEMMA What responsibility does the federal government have to ensure the elderly a secure and stable standard of living?
Grade: 9-12

Medicare, Governance, and the National Debt
ESSENTIAL DILEMMA What level of medical care should the federal government provide for the elderly, and what trade-offs are we willing to make to provide that care?
Grade: 9-12

National Security Goals, the Federal Budget, and the National Debt
ESSENTIAL DILEMMA Can the United States make a decision to reduce or modify spending on defense without jeopardizing the country's security goals? 
Grade: 9-12

Compound Interest
Students learn what compound interest is, how it is calculated, and appreciate the impact it makes on loans and investments. To begin the lesson students work through simple interest leading to compound interest problems. The stud...
Grade: 9-12

Saving
Students take an interest inventory test that gives them a list of careers from which to choose. Once they select a career they are given the annual median wage for that career. Students are taught how to make a table, label a gra...
Grade: 9-12

Specialists Light Up Our Lives!
Peppe and his family moved to America to pursue the American dream. His mother has passed away, his father is ill,and all the children need to find work to help provide for basic essentials. Peppe is excited to find a job, only to...
Grade: K-2, 3-5

Productivity and Graphing Linear and Quadratic Functions
In this lesson students interpret key features of graphs for both linear and quadratic functions in the context of total and marginal production. The lesson begins with a short video about a young entrepreneur who designed his own...
Grade: 9-12

Buy and Hold: A Stock Market Simulation
Students will participate in a brief activity as well as direct instruction that explains the purpose of stocks and bonds from both a corporate and investor perspective. Then they will work in groups to make investment decisions i...
Grade: 9-12

How Will I Pay for College?
In this lesson, students will learn about current trends in student borrowing and determine a reasonable debt load for hypothetical students. College costs have escalated over the past two decades, and more and more students are r...
Grade: 9-12

The Hidden Costs of College
College costs have escalated over the past two decades, and many students are relying on student loans to cover the costs. So it is more important than ever to carefully consider the costs of college, anticipated career income, an...
Grade: 9-12

Alexander, Who Used to Be Rich Last Sunday
In the story, Alexander, Who Used to Be Rich Last Sunday, Alexander receives a dollar from his grandparents that he plans to save, but he spends it all, a little at a time. In this lesson, students count by 2s to fill a container ...
Grade: K-2

Building Good Credit Scores
This lesson uses the Better Money Habit video Does Carrying a Balance on Your Credit Card Hurt Your Credit Score? to help students understand how revolving accounts, such as credit cards, can impact credit scores.
Grade: 9-12

Decision Making
Students apply a particular model for making decisions in exercises that call for choosing a college and buying a personal computer. The model focuses on explicit identification of problems, alternative possibilities for solving p...
Grade: 9-12

"What Pet Should I Get?" Dr. Seuss and Decision Making
Recently published, but likely written between 1958 and 1962, What Pet Should I Get? is the delightful tale of a definitive childhood event: selecting a family pet. The activities in this lesson focus on the decision-making proces...
Grade: K-2

Distribution of Income
Students engage in a simulation to explore how productivity influences the distribution of income and how government policy influences the redistribution of income. They calculate measures of central tendency for the entire class,...
Grade: 9-12

Spending Multipliers
Students learn the definition of marginal propensity to consume and marginal propensity to save. After spending time practicing computing what these terms mean, students participate in a simulation to demonstrate how the marginal ...
Grade: 9-12

How Does Your Family Save?
This lesson uses a Better Money Habits video to discuss a family's regular shopping habits. 
Grade: 6-8

What Car Should I Buy?
This lesson uses a Better Money Habits video to explain the basic decisions involved in buying a car.
Grade: 6-8

Establishing Credit
Using two Better Money Habits videos, this lesson increases student understanding of the importance of building and maintaining good credit.
Grade: 6-8

Debit Cards vs Credit Cards
Using a Better Money Habits video, this lesson introduces students to the advantages and disadvantages of using debit cards and credit cards.
Grade: 6-8

Setting Goals
This lesson uses a Better Money Habits video to reinforce student understanding of setting short-term, medium-term, and long-term goals.
Grade: 6-8

Checking Out Checking Accounts
This lesson uses a Better Money Habits poster to help students examine the features of checking accounts.
Grade: 6-8

Building a Better Budget
This lesson uses the Better Money Habits video How to Set a Budget and Stick to It to reinforce the concepts of budgeting introduced in Lesson 7: Managing Cash in Financial Fitness for Life, Grades 6-8.
Grade: 6-8

Meeting Financial Goals
In this lesson, students learn several basic steps to help them understand the importance of saving to meet future personal financial goals.
Grade: 6-8

Creating a Financial Safety Net
This lesson uses a Better Money Habits video to explain why creating an emergency fund is important, especially when confronted with unexpected costs.
Grade: 9-12

Owning a Car
Using a Better Money Habits video, this lesson introduces students to the various costs associated with buying and operating a car, including monthly payments, gasoline, insurance, and maintenance.
Grade: 9-12

Buying a Home
This lesson uses a Better Money Habits video to help students compare the costs of renting or buying a place to live.
Grade: 9-12

Credit Reports and Credit Scores
Using a Better Money Habits video, this lesson explains the differences between credit reports and credit scores.
Grade: 9-12

Budgeting Basics
This lesson uses a Better Money Habits video to reinforce budgeting concepts.
Grade: 9-12

Renting a Place to Live
This lesson uses a Better Money Habits video to help students will learn about the costs associated with renting a place to live.
Grade: 9-12

A Moving Experience: How Much Does it Cost?
This lesson uses a Better Money Habits video to help students better understand the process of finding a place to live.
Grade: 9-12

The Basics of Saving and Budgeting
This lesson generates a class discussion on the importance of setting financial goals by using the Better Money Habits video Steps to Better Money Habits to expand student understanding of saving and budgeting.
Grade: 9-12

Getting Out of Debt
This lesson uses the Better Money Habits video Steps to Help You Get Out of Debt to explain the concept of debt.
Grade: 9-12

Who Is Janet Yellen?
This lesson introduces students to the Chair of the Federal Reserve System, Janet Yellen. It describes briefly her involvement within the Federal Reserve.
Grade: 9-12

Who Bears the Burden When a Tax Is Imposed on a Good?
Students will learn how to determine the function values [f(x) or y values] of simple functions by calculation and inspection and will learn to calculate the area under straight line graphs. Students will watch a video to learn th...
Grade: 9-12

Rates of Change
This lesson uses a classic video clip to introduce variable and fixed inputs. Students participate in an activity that demonstrates adding additional inputs to a fixed set of inputs that eventually leads to diminishing marginal re...
Grade: 9-12

The Mathematics Behind Progressive, Regressive, and Proportional Taxes
Students take a quiz that involves earning income and paying a tax. Through this activity, they generate data that they use to create a table, a graph, and to build equations that represent relationships between quantities. Studen...
Grade: 9-12

Exchange Rates
Students describe and identify where certain items they own come from and the approximate price of these items. They learn that to purchase an imported item they have to pay the people from whom they bought the item in their count...
Grade: 9-12

Graphing and Interpreting Linear Relationships in the Context of Budgeting
Students explore budget constraints by solving a contextual problem involving the purchase of goods on a fixed income. Adjustments to the quantities of two goods are used to explore the meaning of points on a graph and relationshi...
Grade: 9-12

Deriving Marginalism
This lesson creates a connection between derivatives and marginalism. Students will be engaging in a set of scaffolding activities that explore the Marginal Cost Function, Marginal Revenue Function, and the implications that these...
Grade: 9-12

In the Market for a New Car?
There are three major purchases that you will make in your lifetime, and one happens to be buying a car. Buying a car can be a challenging and daunting task if you haven't done your due diligence. Doing so helps you form a gam...
Grade: 9-12

Using Slope to Compute Opportunity Cost
Students learn the basic economic concept of opportunity cost and draw a production possibilities frontier to learn the constraints a society faces when deciding what to produce. After reviewing opportunity cost, students learn th...
Grade: 9-12

Discover How Two Way Tables Are Used To Determine Auto Insurance Deductibles and Premiums
Students collect data from a hands-on activity involving Colors Goldfish® Baked Snack Crackers to learn how to create a two-way table, find the marginal distribution, and find the conditional distribution. Students then use gi...
Grade: 9-12

Who Decides Wage Rates?
In this lesson, students play the role of either buyers or sellers of labor to examine the interconnectedness of individuals and companies in labor markets. Students learn that the demand and supply for labor determine market wage...
Grade: 9-12

Understanding and Analyzing an Income Statement
The income statement is one of the most important financial statements used in making business decisions. The income statement is an analytical tool that can be used in business and personal finance that summarizes business and pe...
Grade: 9-12

Your Credit Card
Students will compare credit cards by looking at the amount of interest they will incur when paying off the balance on their purchases. Students will discuss times when they will need to use a credit card, rewards programs, and di...
Grade: 9-12

When Graphs Mislead Us
Students view a video and answer questions about Gross Domestic Product (GDP). Graphs of real GDP per capita are used to demonstrate that the same set of data can be shown in different ways. Students are introduced to the concept ...
Grade: 9-12

How Expensive are Payday Loans?
Students will learn how a payday loan works by watching a video. They will learn that payday loans are an expensive form of borrowing and then calculate the total cost of a payday loan using several methods (table, graph, and form...
Grade: 9-12

Earning Credit
Students participate in a series of activities that provide them with a simulated credit score and an auto loan interest rate based on their credit score. Then they learn to use compound interest and amortization schedules to calc...
Grade: 9-12

Profit Maximization
In this lesson students solve an optimization problem based on the real-world example of profit maximization. Students analyze a revenue and profit report for Apple, Inc. to explore profits and profit maximization. They view a vid...
Grade: 9-12

Using Systems of Equations with Supply and Demand Application
Students are introduced to the concepts of supply and demand. They will construct a supply and demand graph, compute the equations of the lines, utilize a system of equations, and solve the system by the substitution method to con...
Grade: 9-12

Break-Even Analysis
Students participate in a group activity in which they are assigned a business. They use breakeven analysis to calculate the number of units that must be sold or at what price each unit needs to sell in order to recover the variab...
Grade: 9-12

"The Giver": Jonas Makes a Choice
Jonas, a twelve-year old, lives in a seemingly perfect futuristic world. His community protects him from all harm and in doing so has taken away his opportunity to make decisions. Will Jonas ever be able to make a choice on his ow...
Grade: 6-8

Would You Demand It?
How many students would demand a cell phone that costs $3,995? That was the price of the first cell phone available to the public, the DynaTAC8000X, in 1983. By 2011, the average price of a smartphone was $135, and more people we...
Grade: 9-12

Open for Business!
This engaging lesson gives students the opportunity to identify risks and rewards of entrepreneurship and distinguish between entrepreneurs who start a business to produce a good or provide a service.
Grade: K-2, 3-5

Booker T. Washington:"Fifty Cents and a Dream"
Young Booker T. Washington had a dream. That dream was to use the resources at his disposal to earn the money necessary to get an education that would allow him and others to become financially secure. This lesson based on the pi...
Grade: K-2, 3-5

Mobile Phones Matter
Most high school students are comfortable using mobile phones. Many high school students use smartphones, such as iPhones, which are becoming part of our culture. It is also becoming more cost effective to use the broad range of s...
Grade: 9-12

The Crow and the Pitcher
Students will learn about scarcity, and how entrepreneurial ideas, managing natural resources and trading can help lessen scarcity. Students will listen to the story, "The Crow and the Pitcher" from Aesop's Fables, then participat...
Grade: 3-5

Forecasting Economics
Can you learn economics from the weather? Students will be able to integrate science, math, and economics through this engaging lesson. The forecast predicts some percentage chance of success.
Grade: K-2

No Room For A Sneeze
This lesson teaches students about scarcity and standard of living. In the book "No Room for a Sneeze", a folktale retold by Robyn Supraner, a farmer and his wife must deal with scarcity in their home so they turn to the Wiseman f...
Grade: K-2

Pop Goes the Housing Bubble
In this lesson, students will learn about a speculative bubble within the context of the U.S. real estate market.
Grade: 9-12

Spotlighting Entrepreneurs: A Technology "iCon"
What better way to address Common Core standards in Reading Informational Text than by meeting a gentleman that changed the world of technology!
Grade: 3-5

The 411 on College Education
One of the most important financial decisions people make is whether to go to college. The price tag of a college education is rising, but so are the benefits. In this lesson, students will begin by learning the relationship betwe...
Grade: 9-12

Spotlighting Entrepreneurs: The Sweet Success of Milton Hershey
Looking for a lesson that ties Common Core Standards in Reading Informational Text with Economics? This lesson spotlights the life of Milton S. Hershey and allows students to learn about the risks and rewards of entrepreneurship t...
Grade: 3-5

Scarcity and Resources
This is a basic lesson of scarcity and resources that can be used for elementary students or students with special needs. Scarcity - is a condition that exists because human wants exceed the capacity of available resources to sat...
Grade: K-2

Invest in Yourself
To explore the concept that people invest in themselves through education, the students work in two groups and participate in a mathematics game. Both groups are assigned mathematics problems to solve. One group is told about a sp...
Grade: 9-12

What is a Stock?
The students work in small groups that represent households. Each household answers questions about stocks and stock markets. For each correct answer, a household earns shares of stock. At the end of the game, the groups that answ...
Grade: 9-12

Understanding the Debt Ceiling Debate and the Budget Control Act of 2011
This lesson provides an introduction and an overview of the Budget Control Act of 2011. Students will be given information about the legislation and presented with different proposals for dealing with the long-term deficit problem...
Grade: 9-12

The Economics of Pro Sports: Why are the Cowboys and Yankees so Valuable?
This lesson investigates the value of sports franchises in the various professional sports leagues. Students will investigate the revenues and costs of pro sports teams and determine which teams are the most valuable. Lastly, st...
Grade: 9-12

Understanding a Balance Sheet
A balance sheet shows the assets, liabilities, and net worth for a business on a given day. This business document is one of the major documents used in evaluating a business. Students will learn the components of a balance shee...
Grade: 9-12

Green Eggs and ...Economics?
Economic concepts are often found in places students have never considered, like children’s literature. In this lesson, students will explore the various economic concepts addressed in five of Dr. Seuss' most popular boo...
Grade: 9-12

Opportunity Cost
Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shap...
Grade: 9-12

A Penny Saved
Students will read the comic book, "A Penny Saved" published by the New York Federal Reserve Bank. Students will make the information relevant through projects, graphic organizers, teacher instruction, and problems.
Grade: 9-12

Goods and Services: Some are Private, Some are Not
The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life....
Grade: 3-5, 6-8

The Columbian Exchange
In this lesson, students learn that the Columbian Exchange resulted in an enormous exchange of goods, resources, and institutions between the Old World and the New World and that the results of the Exchange were both positive and ...
Grade: 6-8, 9-12

Chevy Volt... It's Electric!
The costs and benefits of owning an electric or hybrid car will be evaluated in this lesson. By reading and researching the history of the production of electric cars, the lesson allows students to understand how this market has d...
Grade: 6-8, 9-12

Using an Excel Checkbook
Students will use a spreadsheet to enter checkbook transactions and reconcile.
Grade: 9-12

Production Possibilities Curve
Students will apply the concepts of scarcity, choice, and opportunity costs using a production possibilities curve. Students will interpret points inside and outside the curve. As an extension, students will see the relationship...
Grade: 9-12

Loan Amortization - Mortgage
How to amortize a loan using an Excel spreadsheet.
Grade: 9-12

You've Won The Lottery! Now What?
Friday the 13th was your lucky day. You won the lottery! The lottery officials have given you a choice. You can either receive the $10 million now in one lump sum, or you can receive $1 million a year for the next 20 years. No...
Grade: 9-12

LeBron James, The Cavaliers, and Derived Demand
PBS video author Paul Solman reports that LeBron James has added $200 million in value to the city of Cleveland since 2003. His presence brings in $100 million each year to the workers and local businesses surrounding the NBA tea...
Grade: 9-12

Avatar, King of the Box Office?
On January 26, 2010, the film Avatar officially topped Titanic as the top-grossing film of all-time at the box office. However, the following day, Forbes.com published an article entitled Is Avatar Really King of the Box Office? T...
Grade: 9-12

Calculating Simple Interest
How do banks calculate the amount of interest paid on a loan? In this lesson, students will view a Livescribe Pencast to learn how to find the dollar amount in interest that is due at maturity. This lesson uses different time pe...
Grade: 6-8, 9-12

Specialization and the Decathlon
This lesson uses results from the 2008 Summer Olympic Games to explain that athletes specialize in sports and events for which they are most skilled for the same reasons that individuals and nations specialize in the production of...
Grade: 9-12

Jokes, Quotations, and Cartoons in Economics
Students will apply their knowledge of economics to the analysis and interpretation of jokes, quotations, and cartoons in economics. Students will watch a Paul Solman video of an interview of Yoram Bauman, the Stand up Economist. ...
Grade: 9-12

Balance of Payments (BOP)
International trade allows countries to buy and sell both domestic and foreign goods, as well as services and financial assets. A country's transactions are summarized in a set of accounts called the "Balance of Payments (BOP)." ...
Grade: 9-12

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 b...
Grade: 6-8, 9-12

Preparing a 1040EZ Income Tax Form
Many students in high school or in college have part time jobs and learn the concept of gross pay and net pay. Their employers take out taxes at the federal and state level. This lesson takes a common situation and helps student...
Grade: 9-12

A Lesson on the Supply and Demand of Toy Fads
The concepts of supply and demand and related terms are taught through stories about the toy fads of Hula Hoops and Silly Bandz. In 1958, Wham-O, Inc. began marketing the Hula Hoop in the United States and sales of the Hula Hoops ...
Grade: 6-8

Trouble is Brewing in Boston - "Colonial Voices: Hear Them Speak"
It's December 16, 1773 and many of the citizens of Boston are furious with King George's new tax on tea. Young Ethan, a printer's errand boy, has been given the task of conveying information concerning an upcoming prot...
Grade: K-2, 3-5

Trade to the Tailor
By reading the book "A New Coat for Anna" students will learn about resources, scarcity, costs, trade/bartering, and decision making through a young girl, Anna, whose mother wanted to buy her a coat but did not have the money.
Grade: K-2

Should LeBron James Mow His Own Lawn?
This lesson will discuss absolute advantage, comparative advantage, specialization and trade with an example using professional basketball player LeBron James.
Grade: 9-12

One Hen: How One Small Loan Made a Big Difference
The picture book One Hen: How One Small Loan Made a Big Difference, written by Kate Smith Milway, takes place in Africa. Here in a Ghanan village, young Kojo cannot afford to go to school after the death of his father. His resour...
Grade: 3-5

Opportunity Cost - Consumers
When individuals produce goods or services, they normally trade (exchange) most of them to obtain other more desired goods or services. In doing so, individuals are immediately confronted with the problem of scarcity - as consumer...
Grade: K-2, 3-5

How Global is Your Portfolio?
This engaging lesson challenges students to connect economics and geography as they investigate global companies in the stock market.
Grade: 3-5, 6-8

What's the Cost of Spending and Saving?
This lesson examines the benefits and opportunity cost of spending and saving. The students learn how compound interest makes savings grow. Compounding provides an incentive to save and invest early. The benefits of saving and inv...
Grade: 9-12

Human Resources and Capital Resources: It's A Match!
Students will define and identify human resources and capital resources workers use in their jobs.
Grade: K-2

Utility
Can happiness be measured? Students will learn how utility relates to economic decision making and the law of diminishing marginal utility.
Grade: 9-12

The Trading Game
In this lesson, students will learn about the gains from trade. Students will participate in a trading game that will demonstrate that trade can make everyone better off.
Grade: 6-8, 9-12

How Much Does it Cost Now?
Students will use the FRED database to download the Consumer Price Index (CPI) and calculate the equivalent price of a product from an earlier time to the relative price today. Students will discuss the limits of using a weighted...
Grade: 9-12

Graphing a Lorenz Curve and Calculating the Gini Coefficient
In this lesson, students receive raw data to construct a Lorenz Curve and calculate the Gini Coefficient. This lesson prepares AP Microeconomics students for the Advanced Placement exam. The teacher will briefly interpret the Gini...
Grade: 9-12

Everyday Opportunities
In this lesson, students will learn about choices and opportunity costs that occur every day. While this lesson will go on throughout the day, the actual lesson is short.
Grade: K-2, 3-5

Economic Indicators for Informed Citizens
This lesson introduces students to three basic economic indicators: real GDP, the inflation rate, and the unemployment rate. The students work in small groups to develop an economic forecast, using the three basic economic indicat...
Grade: 9-12

Traditional Economies and the Inuit
The Inuit people of northern Canada provide an example of a traditional economy. For thousands of years, Inuit parents have taught their children the survival skills needed to survive in the Arctic Circle's severe climate. Studen...
Grade: 9-12

Phillips Curve
This lesson explores the relationship of unemployment to inflation in the 1960s and after. Students will discover the short-run trade-off between inflation and unemployment when unemployment is less than its natural rate. Students...
Grade: 9-12

The Ice Cream Stand
Students will learn about supply, demand, price, competition, and entrepreneurial skills in this lesson. They will put what they learned into action by creating an ice cream stand, to complete with other stands in the classroom.
Grade: 6-8

The Credit Card Mystery
Credit Cards are a risky business these days, especially for students and those holding multiple cards. Interest rates on credit card balances have always been high relative to other rates, for several reasons. Despite this, there...
Grade: 9-12

Okun's Law
The students sharpen their graphing skills by interpreting the relationship between changes in the unemployment rate (%) and real GDP. From this graph, students will determine the natural rate of GDP growth for the U. S. Economy ...
Grade: 9-12

The Effects of the Recession
The students learn how a recession affects our economy, and how it might affect them personally. They examine the role the federal government played in dealing with the Great Recession, which lasted from December 2007 to June 2009...
Grade: 6-8

The Economics of Voting
Since the 1960's, many Americans eligible to vote have not bothered to do so- not even in presidential elections. Low rates of participation in voting have been worrisome to people interested in preserving our democratic tradition...
Grade: 9-12

Competition Works in Our Flavor
Competition provides benefits for consumers. First, more competition means consumers have more choices of goods and services. Second, when more firms are offering goods and services, competition often leads to lower prices.
Grade: 3-5, 6-8

The Family Vacation
Students will take a surprise trip around the world. As they travel, they will use clues to discover where they are going. They will then figure out how much money they have spent in U.S. dollars, using exchange rates.
Grade: 6-8, 9-12

Staying Afloat Financially in the 21st Century
This lesson will help students identify how to make good decisions which will help them financially in the future. Students will identify how to take their own wants and work them into a form of a personal budget. Students will ...
Grade: 6-8

You're Going to College
The students will explore the costs and the benefits of going to college. They participate in a three-part game designed to help them understand the decisions associated with attending college and the benefits available to college...
Grade: 6-8

The Prices Are Changing
This lesson will help students to understand how markets are created by the interaction of buyers and sellers, what demand and supply are, what equilibrium price is, and how demand and supply interact with price changes.
Grade: 6-8

The Unemployment Game
Students will learn about important labor market statistics that are frequently discussed in the media. An understanding of the unemployment rate and labor force participation rate will be developed through participation in an in...
Grade: 9-12

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, t...
Grade: 6-8, 9-12

Dumptown, USA: Making a Ton of Difference
The amount of trash produced in the United States is mounting with each passing year. Communities are finding it increasingly difficult and costly to handle trash disposal. Recycling is considered a key solution to the garbage pro...
Grade: 6-8

What Is Money? Why Does It Have Value?
In this lesson, students consider the fact that the value of money differs depending on where the money is being spent. In order to understand this idea, students will first develop a deeper understanding of what it means for mon...
Grade: 6-8

Tax Time Scavenger Hunt
Income taxes can be confusing, but there are a lot of online resources to help us understand them! This lesson takes students through four useful sites, asking them to look for specific information that will broaden their underst...
Grade: 9-12

The Mitten
This is a folktale retold by Jan Brett about a little boy whose grandmother knits him a pair of snow white mittens. While he is outside he loses one and some animals, one by one, find it and move in because it looks warm. This sto...
Grade: K-2

Lemonade For Sale!
Students will become online entrepreneurs, taking risks and changing their production method to increase their profit while running a lemonade stand. This lesson might best be taught after students have learned about the basic con...
Grade: 6-8

Cowboy Bob Builds a Community
A cowboy rides into a ghost town and decides that it needs to be rebuilt. Students will select the necessary things that a town needs in order for it to function and grow.
Grade: 3-5

Jobs: Who Needs 'Em?
In this lesson, students will look at the importance having some kind of job. At early ages they sometimes get the idea that money grows on trees and they should get anything that they want. This lesson will look at the consequenc...
Grade: 3-5

Funny Money or Phony Money?
Money is what we use to show what goods or services are worth. When you do work, you are paid with money. When you sell something, the buyer gives you money. Sometimes it’s a lot of money and sometimes it’s just a ...
Grade: K-2

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,...
Grade: 6-8, 9-12

How Labor Got Its Day
If you asked students what comes to mind first when they think of Labor Day, what do you think they would say? The last days of summer? A family picnic? Shopping the Labor Day sales? The purpose of this lesson is to broaden and de...
Grade: 3-5

The Civil War: A War of Resources
The North won the Civil War in large part due to its superior resources. In this lesson students will learn the difference between capital resources, human capital, and natural resources. They will investigate and compare the re...
Grade: 6-8

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,th...
Grade: 6-8, 9-12

The Five Stages of Investing
The practice of saving and investing is definitely a good thing, but there are many ways to save and invest. In thinking about the options, it is important to consider the degree of risk involved and the potential for return. Typ...
Grade: 9-12

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...
Grade: 6-8, 9-12

Work, Earnings and Economics: Using 'Lyddie' by Katherine Paterson
To get started, the students will read Lyddie, a novel by Katherine Paterson. The novel is set mainly in Lowell, Massachusetts, in the 1840s. In Lowell the main character, 13-year-old Lyddie Worthen, works six days a week, from ...
Grade: 6-8

The Choice is Us: Monopolies
This lesson introduces the concept of monopoly. It calls upon students to consider how monopoly power might affect the quality and price of goods and services offered to consumers. In light of what they learn about the history of ...
Grade: 6-8

What Happened to Railroads?
Between the Civil War and World War II, railroads were one of the nation's most important businesses and an integral part of people’s lives. In this lesson, students assume the role of detectives investigating why the rail c...
Grade: 9-12

Banks & Credit Unions (Part I)
Students learn about banks and credit unions, identifying similarities and differences between the two types of financial institution. They also evaluate a local bank and credit union to determine which one would be better suited ...
Grade: 9-12

It's a Not So Wonderful Life
In this lesson students learn about banks and banking. The study the fractional reserve system, and the role the Fed plays in the money creation process.
Grade: 9-12

The Higher you Climb, The More You Pay
Students will take a "Virtual Tour" of the Eiffel Tower in Paris France and locate the price of a bottle of water at each viewing platform. They will need to problem solve how to pay for admission, buy the water and be ...
Grade: 6-8

The Color of Resources
This lesson will demonstrate the making of Crayola products to introduce natural, capital, and human resources as well as touching on some other aspects in the Crayola industry such as producers and consumers.
Grade: 3-5

No Extra Room on the Mayflower
The students will explore the ideas of scarcity and choices by exploring a virtual model of the Mayflower. They will then pack a virtual suitcase making good choices about what they pack.
Grade: K-2

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 ...
Grade: 6-8, 9-12

Case Study on Productivity (1 of 3): Henry Ford and the Model T
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 w...
Grade: 6-8, 9-12

China - Where will they fit in the world economy?
With its, emerging middle class, its new markets, and a new emphasis on increasing its technology base, where is China going to fit in the world economy?
Grade: 9-12

Deceptive Advertising: Crossing the Line
Businesses use advertising to tell consumers about the goods and services they are selling. Businesses hope that their advertisements will convince people to buy their products. In this lesson, students examine the ground rules fo...
Grade: 9-12

The Price of Gasoline: What's Behind It?
In this lesson, students investigate the variables that contribute to the cost of gasoline. They learn that while OPEC nations do influence the price of oil and thus the price of gasoline, other factors also influence the price.
Grade: 6-8

Did You Get the Message?
Advertising is the primary tool used by businesses to tell consumers about the goods and services they sell in the marketplace. Businesses also use advertising to try to convince consumers to buy what they are selling. Advertiseme...
Grade: 3-5, 6-8

Why does Eli Manning Make $24 million per year?
What determines a person's salary? Why do professional athletes make so much money? People who work as firefighters, police officers or teachers are clearly more important to our society, yet they make much less money than jocks....
Grade: 9-12

Education: Weigh Your Options
Getting and keeping a job often requires special education or training. While an employer may provide or pay for some additional education or training, workers often have to obtain it on their own. In this lesson, students use a w...
Grade: 9-12

The Difference Between Goods and Services
Students will be able to distinguish between people who produce goods and people who provide services to a community.
Grade: K-2

Be An Ad Detective
Every day, students are bombarded by advertising. They cannot escape it. But marketers realize that many people—especially young people—are becoming very good at tuning ads out. Businesses thus are becoming more creati...
Grade: 3-5, 6-8

Satisfaction Please! (Part 3)
Even the savviest consumer has a problem with a good or service on occasion. It is a consumer’s right to complain when there is a genuine problem. In some situations, it is also a consumer’s responsibility. A problem c...
Grade: 9-12

Believe it or Not?
Advertisements can tell consumers about prices and other information that may help them in the decisions they make about what to buy. But students also should know that ads are slanted by sellers to show a product in the best lig...
Grade: 3-5, 6-8

Why do we need money? Think about Ebay!
The students investigate money--its purpose and functions. They complete an exercise, using the online acution site Ebay, to learn why money is critical to an economy.
Grade: 6-8, 9-12

No Fireworks on the 4th of July
This lesson explores the differences between public and private goods.
Grade: 6-8

What causes inflation?
This lesson explores different types of inflation and terms associated with this economic concept. You may have heard relatives talk about the good old days when a dollar would buy something. What happened to that dollar? Why w...
Grade: 9-12

Was Babe Ruth Under Paid?
This lesson demonstrates a method for teaching students about inflation and the Consumer Price Index, using baseball players' salaries for purposes of illustration. Babe Ruth's salary from 1931 is adjusted to account for changes ...
Grade: 9-12

History of monopolies in the United States.
Monopolies in the United States have existed in many forms. When a business dominates a market, its market power makes it a monopoly. How these businesses use their market power will determine the legality of the monopoly.
Grade: 9-12

There is Something in the Water
The United States is losing 60,000 acres of wetlands each year. Is this good or bad? Does anyone really want to live in swamps, fens, bogs, and marshes? Or is it better economics to drain the wetlands for other purposes like agr...
Grade: 6-8

Industrial Entrepreneurs or Robber Barons?
This lesson focuses on a group of nineteenth century industrial entrepreneurs described in many history books as Robber Barons. It calls upon students to analyze the activities of these entrepreneurs in order to draw conclusions a...
Grade: 6-8, 9-12

Capital Investments: Human v. Physical
In this lesson you will define human capital and understand why it is necessary for economic growth. Also, you will explore how people can increase their personal level of human capital.
Grade: 9-12

Satisfaction Please! (Part 2)
Even the savviest consumer has a problem with a good or service on occasion. It is a consumer’s right to complain when there is a genuine problem. In some situations, it is also a consumer’s responsibility. A problem c...
Grade: 9-12

Satisfaction Please! (Part 1)
Even the savviest consumer has a problem with a good or service on occasion. It is a consumer’s right to complain when there is a genuine problem. In some situations, it is also a consumer’s responsibility. A problem c...
Grade: 9-12

Fewer Watts and Fatter Wallets
Students learn about incentives for alternative energy programs and the role played by non-price determinants in energy choices.
Grade: 9-12

Closing the Gap
The students learn what GDP is. They will learn different measures of GDP as well as how GDP per capita can be used to compare countries. They will also calculate GDP per capita and learn how poorer countries can converge, or clos...
Grade: 9-12

Fad or Fortune
This lesson focuses on collectibles and how they retain, lose, or gain value. In each round of a trading simulation, students will learn more about the value of their collectibles and discuss why items gain or lose value. They wil...
Grade: 6-8

Agent Pincher: The Case of the UFO
Agent Pincher: The Case of the UFO--Unfamiliar Foreign Objects. That is what currency from another country may look like. Sometimes when people first try to use money from another country, they feel like they are playing with toy...
Grade: 6-8

You Can BANK on This! (Part 1)
Banking should not be confusing. It should be INTERESTing! Most students in the elementary grades would love to know more about checking accounts, ATMs, credit cards and all the ways in which their relatives buy the stuff that th...
Grade: 3-5

Do I Look Like I'm Made of Money?
One of the most common replies given by parents when their children ask for money is “Do I look like I’m made of Money?” This lesson is designed to educate students about the need for money as a generally accept...
Grade: 3-5, 6-8

New Sense, Inc. vs. Fish 'Till U Drop or Coase Vs. Pigou
Hot debate and arguments galore whirl around this question: "Which economic approach is the most efficient and fair to resolve utility issues surrounding the use of common or public property?" This lesson will explore, ...
Grade: 9-12

Could You Earn a Million Dollars?
This lesson is designed to acquaint students with the relationship between earnings and education. The data are very clear regarding one’s earning potential and educational attainment. That is, the more education an individu...
Grade: 6-8, 9-12

Where Does the Price of Pizza Come From?
How does a market economy determine prices? Students graph supply and demand curves for pizza in the fictional town of Pizzaville using two data sets and learn that consumers are willing to buy more pizzas at lower prices while se...
Grade: 6-8, 9-12

You Can BANK on This! (Part 3)
Building on the first two lessons in the series, this lesson deals with savings and interest.
Grade: 3-5

Keynes vs. Hayek: The Rise of the Chicago School of Economics
Economic freedom is freedom from government intervention in the production and distribution of goods and services. After World War II, governments were trying to rebuild their economies from the ground up. They looked to the idea...
Grade: 9-12

You Can BANK on This! (Part 4)
This lesson deals with credit and wraps up this unit on finance.
Grade: 3-5

The Benefits of Investing Early
The students will see how compounding returns make investing at a young age pay off.
Grade: 9-12

You Can BANK on This! (Part 2)
As in the first 'You Can BANK on This,' you will learn that banking should not be confusing - it should be INTERESTING! Lesson Two will continue learning with Zing, but this time we will learn all about budgeting - and budgeting ...
Grade: 3-5

The Economics of the New Deal
The stock-market crash of 1929 is generally seen as the start of The Great Depression, the worst economic downturn in the history of the United States. The Depression had devastating effects on the country. But it also served as a...
Grade: 9-12

Credit for Beginners
This lesson focuses on teaching students the basics about credit. It explains why credit is important, how to keep good credit and several of the terms that are associated with credit.
Grade: 9-12

The Grasshopper and the Ant
Understanding the concept of opportunity cost is critical for good decision making. The ability to identify the opportunity cost—the highest valued alternative that must be given up when another option is chosen—helps ...
Grade: 3-5

Sand Art Brownies
In this lesson, you will learn about substitute goods. You will have choices to make in your role as a shopper. In making these choices, you will decide whether you are willing to accept one good as a substitute for another or no...
Grade: 6-8

What Face do you Use?
The students will recognize that in order to facilitate the exchange of goods and services, most nations create currency for use as money. They will examine the characteristics of money by comparing and contrasting examples of U.S...
Grade: 3-5

To Be or Not To Be?
This lesson guides students through web sites that examine careers that are typically of interest to 3rd- through 5th-grade students. By completing the steps outlined in the lesson, the students will explore careers and report the...
Grade: 3-5

Break a Leg
In this lesson students will learn about the basic components and terminology of individual health insurance. Students will make decisions about the value of insurance protection and you will identify trends in the cost of medical...
Grade: 9-12

Agent Pincher: The Case of the missing Susan B. Anthony Dollar
Agent Penn E. Pincher is again called out on a case. It seems that in 1979 the U.S. Bureau of Engraving launched a new one-dollar coin. However, most citizens haven’t seen it in several years. This case may be from the 'col...
Grade: 6-8

International Trade Creates More and Better Jobs
This lesson explores the relationship between productivity and international trade. Specifically, this lessons shows why there should be fewer trade restrictions rather than more.
Grade: 9-12

Dry as a Bone
This lesson examines the current state of drought in the United States and the economic impact of drought on local communities.
Grade: 9-12

Where did that pencil come from? The Study of Natural Resources
The students will determine what goods can be produced from physical features such as rivers, lakes, mountains, and plains by looking at maps. Additionally, they will discuss the process these goods go through from nature to co...
Grade: 3-5

Agent Pincher: P is for Penny or Where did money come from?
Over time everyone has had a pocketful of pennies, it’s not something we think about very much. But what if we woke up tomorrow and found that there were no more pennies? Or what if we found that money had disappeared al...
Grade: 6-8

The South's Decision to Secede: A Violation of Self Interest?
Essential Dilemma Your students will consider the following questions: In deciding to secede from the Union in 1861, did the South violate its own self-interest and thus disprove the basic economic principle that people seek to f...
Grade: 6-8, 9-12

Collecting for Fun . . . and Profit?
Art, baseball cards, coins, comic books, dolls, jewelry and stamps are just a few examples of the many things people collect. While some people collect for fun — others hope to profit. In this lesson, students explore ho...
Grade: 6-8, 9-12

The Economics of Voting: What Do You Mean My Vote Doesn't Count?
This lesson explores the costs and benefits associated with voting in national elections. Specifically, the concepts of rational apathy, rational ignorance and expressive voting are explained.
Grade: 9-12

A Perfect Pet
The introduction to this lesson is a brief online story about a little girl’s visit to a pet store with her father. She considers several pets before choosing a “cute and cuddly” dog. Students are reminded that p...
Grade: K-2, 3-5

College: Where am I going to go?
Students will use a PACED decision making grid to help them decide where they would like to attend college.
Grade: 9-12

Price Elasticity: From Tires to Toothpicks
Students gain an understanding of price elasticity of demand and why different goods have different degrees of elasticity. Students learn how to calculate price elasticity of goods.
Grade: 9-12

To Buy or Not To Buy
While precise numbers are not known, it is believed the number of boycotts has grown markedly in the past fifty years. Consumers seem to be besieged by requests from special interest groups to refrain from buying certain good...
Grade: 6-8, 9-12

Timing Is Everything
In the first part of the lesson students examine the incentives and opportunity costs of spending and saving in a teacher directed lesson. The remainder of the lesson is an interactive web site. Students work through problems...
Grade: 9-12

Trade in Colonial America / NAFTA
Often teachers and students are able to internalize historical and economic concepts through a more recent event that has occurred within their time frame. This lesson is an extension for the lesson, "Understanding the C...
Grade: 9-12

Developing a Financial Investment Portfolio
Students are given brief descriptions of three individuals. They act as financial advisors and develop a financial investment portfolio for each client using internet references as they analyze various saving options. The inte...
Grade: 9-12

What Do You Get for Your $1,818,600,000,000?
Using MS Excel and data from the Bureau of Economic Analysis web site on federal government spending, students will compare the amounts spent on various sectors and programs over a range of years.
Grade: 9-12

Economic Sectors and International Development
Using poverty rate as a measure of development, students select countries five at a time to compare how resources are allocated to three economic sectors (agriculture, industrial, service). After making comparisons, students ...
Grade: 9-12

U.S. farmers and the Cuban embargo
This lesson explores trade barriers in general and why some U.S. farmers want one specific trade barrier, the Cuban embargo, completely eliminated.
Grade: 9-12

Cost/Benefit Analysis:Three Gorges Dam
This lesson will allow students to evaluate the costs/benefits of the Three Gorges Dam project on the Yangtze River in China. The purpose of this lesson is to encourage students to look at a complex issue from differing viewpo...
Grade: 6-8

Lowell Workers and Producers Respond to Incentives
In this lesson students learn about supply and demand and how changes in supply affect price and quantity of goods supplied. In part 1, the students are presented with a hypothetical story about a high school's policy on concessio...
Grade: 9-12

How E-Commerce Influences Consumer Choice
In this lesson students learn decision making skills that will help them become better consumers. As consumers they have a variety of alternatives from which to choose. They learn about the importance of price information in ...
Grade: 3-5, 6-8

Where did All the Money Go? The Great Depression Mystery
In this lesson, the students read a brief passage that poses the mystery, "How did the Great Depression happen?" As detectives, they gather clues using the Internet to investigate the mystery through a series of clue...
Grade: 9-12

Business Ownership: The Franchise Option
Students explore an alternative to starting a business from scratch – investing in a franchise. They begin by considering the pros and cons of a franchise and whether this form of business is an option that would fit th...
Grade: 9-12

Toys for Me: A Lesson on Choice
Students encounter the concept of scarcity in their daily tasks but have little comprehension as to its meaning or how to deal with the concept of scarcity. Scarcity is really about knowing that often life is 'This OR That' n...
Grade: K-2, 3-5

The Entepreneur in you?
Throughout this lesson students take note of the role of risk and incentives as factors found in all entrepreneurial pursuits. They will analyze, compare and evaluate personal characteristics of entrepreneurs. They will also ...
Grade: 9-12

Three Types of Business Organizations
In this lesson, students research the three basic types of business organization: sole proprietorships, partnerships, and corporations. Considering the advantages and disadvantages of each, they function as consultants offeri...
Grade: 9-12

Those Golden Jeans
This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students use the internet to identify examples of each ...
Grade: 3-5

Demand Shifters
In this lesson students learn about demand and factors that cause demand for a good or service to change. They also learn to recognize factors that influence their behavior as a consumers.
Grade: 6-8

Worker Safety - The Triangle Fire Legacy
The Triangle Shirtwaist Fire of 1911 was a turning point for employee health and safety protections in the U.S. Students investigate the Triangle tragedy and how its impact is still felt today. Students identify eerie paral...
Grade: 6-8, 9-12

I Don't Want Much, I Just Want More: Allocation, Competition and Productivity
In this lesson, students will examine different methods for allocating resources, taking note of the cost and benefits associated with each method. This analysis will help students to understand competition and productivity ...
Grade: 9-12

We are Consumers and Producers
Students are consumers and producers. So are their families. In this lesson students learn how they and family members fulfill these roles at home and in their community. They begin by exploring the goods and services that peo...
Grade: K-2

Government Spending: Why Do We Spend the Way We Do?
Students look at definitions for the three categories of federal spending and using the internet locate examples of each. They then categorize a list of expenditures as government purchases or transfer payments. Given federal ...
Grade: 9-12

Be an Energy Saver
This lesson focuses on the scarce and nonrenewable nature of fossil fuels in order to stimulate student thinking about energy conservation. It emphasizes the fact that saving energy can be good for the wallet as well as the e...
Grade: 6-8, 9-12

The Price We Pay for Health: US and Canada
Students will review the health systems of United States and Canada. They will identify the positive aspects of each system. They will look at the trade-offs associated with those positive aspects. In Canada, everyone has h...
Grade: 9-12

Guess Who's Coming to Dinner
This lesson introduces regulation and information as two tools used by government to promote fair competition and complete information in a market economy. Using the 1906 Pure Food and Drugs Act as a case study, students expl...
Grade: 6-8, 9-12

WIDGET PRODUCTION: Producing More, Using Less
In the first part of the lesson students take a quiz to review the major concepts taught in Lesson 7, "Widget Production," from Master Curriculum Guide in Economics: Teaching Strategies 5-6. Students then search the ...
Grade: 3-5, 6-8

Mystery Workers
In this lesson students review the concepts of goods, services, and producers using the Internet to locate examples of each in a teacher's classroom. They learn about the three kinds of resources necessary to produce goods an...
Grade: K-2, 3-5

What's Your Angle?
This lesson is last in a series of lessons on entrepreneurship for 3-5. Students will learn about market research and ways to influence consumer behavior through non-price competition. They will look for ways to make their ...
Grade: 3-5, 6-8

The Best Deal
Students will learn how to determine 'price per unit' to help make decisions when comparing products.
Grade: 3-5, 6-8

Money Comes and Goes
Students read two online stories that introduce them to the elements of a budget and show that a successful budget balances money coming in (income) with money going out (expenses and savings). Follow-up activities point out the v...
Grade: 3-5

What is Competition?
Students will understand what businesses are, that a marketplace exists whenever buyers and sellers exchange goods and services, and that there is competition in the market place if you have more than one seller of the same item o...
Grade: K-2, 3-5

Climbing the Savings Mountain
Students discover how saving money can be compared to a mountain climb. The climb can be fast or slow, safe or hazardous, scenic or thrilling. You will find out that there is more than one way to get to the top!
Grade: 6-8

Classroom Cash Incentive Plan
Students will be rewarded for positive behavior and performance in class through a monetary incentive program. Classroom cash will be earned on a daily basis for such things as attendance, punctuality, and assignment complet...
Grade: 9-12

Dynamic Decision Making
Students will be introduced to the PACED Model and learn to use the parts of the model-- Problem, Alternatives, Criteria, Evaluation, and Decision -- in solving problems and making decisions. They will practice using the model in ...
Grade: 3-5

Where's the Beef?
Students explore meat consumption statistics, an indicator of a nation's relative prosperity and standard of living. They do a survey of a family's meat consumption and compare their results to statistics from Colonial and...
Grade: 6-8

Giving Credit
This lesson introduces the role and importance of the 3 C’s -- capacity, character, and collateral – to being granted credit. An online story about a girl who fails to return soccer shin guards borrowed from a friend i...
Grade: 3-5

Hawaiian Economics: Barter for Fish & Poi
In ancient Hawaii, chiefs managed the economy by creating a land division system, the Ahupua'a, which divided the islands into pie slice shapes. Each Ahupua'a covered the three main regions of the islands: the mountains, the ...
Grade: 3-5

Big Banks, Piggy Banks
When choosing a place to put their money, people consider how safe their money will be, how easy it is to access, and whether it will earn more money. Students explore how well different savings places achieve these objectives. St...
Grade: K-2, 3-5

Hey, Get a Job!
The second of a two-part unit on income-earning endeavors, this lesson has students choose a job or business to engage in during non-school hours. They then devise a strategy of whom to target and how to begin pursuit of their cho...
Grade: 6-8

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 mone...
Grade: 3-5, 6-8

Community Helpers are at Your Service
Students learn that Community Helpers provide a service for their neighborhood.
Grade: K-2

Hawaiian Economics: From the Mountains to the Sea
Ancient Hawaii was ruled by chiefs, who were responsible for the well-being of their people and for managing the islands' resources. The chiefs divided the islands into land districts shaped like pie slices called Ahupua'a (ah-who...
Grade: 3-5

Communities - What They Provide For Us
Students will learn that a job is work people do to earn a living in the world today.Students will learn the difference between jobs that provide a service and jobs that provide a good.
Grade: K-2

Clipping Coupons
In this lesson, students will calculate savings for different products when using coupons. They will also decide what factors will influence the choices they make when choosing products.
Grade: K-2, 3-5

Lewis and Clark barter with the Native Americans
Using the study of the Lewis and Clark expedition students will define the term barter and give examples of bartering.
Grade: 6-8

The Mystery of is it Mine or Ours?
Did you ride to school on a road today? Yesterday did you skate in a public park? Maybe Mom or Dad traveled home from one of your ball games on their bicycles under a string of street lights? How did the road, the park or the...
Grade: 6-8

Lean on Me -- We depend on each other!
The purpose of this activity is to demonstrate that the production of most goods can be broken down into a number of specific tasks (division of labor), with each of these tasks assigned to specific workers (specialization.)
Grade: K-2, 3-5

The ABCs of Saving
We save money to get things we can’t afford to buy now. Saving for the future requires patience but it can be worth it when we get what we want the most. Successful savings depends on three elements which are presented to st...
Grade: K-2, 3-5

Buy A Bond, James!: A Lesson on U.S. Savings Bonds
Students will find out what savings are and will be introduced to U.S. Savings Bonds.
Grade: 3-5

Peanuts, Pecans, and Peas, Please
George Washington Carver, a great scientist, changed the economy of the South with his agricultural knowledge. This lesson will investigate how the lowly peanut kept the cotton farmers from losing everything.
Grade: 3-5

Taxation without Representation?
This lesson will take students through the series of tax acts that were enacted by the British government and disputed by the original 13 colonies of America prior to the American Revolution. Students will discuss the concept ...
Grade: 3-5, 6-8

Money Doesn't Grow on Trees
Money doesn’t grow on trees. This lesson introduces students to four ways people get money—they find it, win it, receive it as a gift or earn it. Finding, winning and receiving money often depend on chance and luck. Mo...
Grade: 3-5

Every Penny Counts
You know that five dollars you got for your birthday? There are so many things you can spend it on, aren’t there? A toy boat to sail on the pond, a doll to play with or a jump rope. A lot of stores sell the very same th...
Grade: K-2

We Can Earn Money (or) Working Hard for a Living
There are many ways for people to get money. One way most people get money is by earning it. This lesson introduces students to work activities that grown-ups do to earn money. Students also explore tasks they might do at h...
Grade: K-2

Incentives Influence Us!
Students will learn that people respond predictably to positive incentives (rewards) and negative incentives (penalties). They will identify incentives in their daily lives at home and school. Students will discuss which ince...
Grade: 3-5

Who Is Working?
This lesson teaches students what economists mean when they talk about people who are employed, unemployed, and not in the labor force. It discusses the Current Population Survey and asks students to pose as government survey...
Grade: 6-8

What Do People Want to Wear?
To stay in business, fashion merchandisers must be able to anticipate what consumers want. By looking at different retail websites, students will look to anticipate what consumers are demanding. Students will then go through...
Grade: 6-8, 9-12

You Decide!
Think about a difficult decision you have had to make. After you decided did it work out? Why or why not? Why do you think decisions and choices are hard to make? We make personal decisions and we make decisions as groups. Th...
Grade: 3-5

Simple Simon Meets a Producer
A classic rhyme, Simple Simon and the Pie-Man, introduces students to the concepts of consumer and producer. Students learn that consumers are the people who buy and use goods and services. Producers make the goods and provide the...
Grade: K-2

Coming and Going: Imports and Exports Throughout the World
Students will study various imports and exports to and from different regions in the world. They will then compare the imports and exports to determine the importance of each.
Grade: 6-8

A Pet For Beans from 'Jack and the Beanstalk'
After listening to a computer-read story, "Jack and the Beanstalk," the students will find out that beans were used as an exchange for Jack's cow. Jack traded his pet cow for an old man's magic beans. Were they both ...
Grade: K-2, 3-5

What's My Interest?
Students explore the concept of interest by means of two activities. The first, a simple activity with jellybeans, introduces the concept of interest accruement, and the second, a practical, "real world" activity, re...
Grade: 3-5

Hey Pop!
One of the best sounds and smells is fresh popcorn! At the movies, at the fair, or at home, everyone likes to munch on popcorn. What is your favorite brand? Is the most expensive the best? You will conduct a taste test to find...
Grade: 3-5

No Funny Money, Honey....I Want the Real Thing!
Do you know what funny money is? It's NOT the real thing! Find out how our government tries to make our money hard to copy in this lesson about real and fake money.
Grade: K-2, 3-5

The Write Stuff
Right now you are probably using a pencil to do your school work. But do you know where the pencil came from, or how it is made? Did you know that the Star Spangled Banner, written by Francis Scott Key was first written in pen...
Grade: 3-5

President Obama's Allowance
In this lesson, students will identify different expenses in the US budget and will decide on the order of importance for different expenses.
Grade: 3-5

Laura Ingalls Wilder's Frontier Town
Laura Ingalls Wilder made a sketch of De Smet, South Dakota in the 1880's. This lesson will discuss the markets in De Smet and competition.
Grade: 3-5

This Little Piggybank Went to Market
Students will learn that work is the source of income and that banks are places in which people save and secure money they have earned.
Grade: K-2

Bringing the Market to the Farm
Students learn how community supported agriculture (CSAs) is changing the relationship between the farmer and the consumer.
Grade: 6-8

If I Ran the Zoo - Economics and Literature
Welcome to the Zoo! In this two-day lesson you will use Dr. Seuss' If I Ran The Zoo book to introduce the economic concepts to your students. You will also get the chance to use actual zoo criteria to help a zoo "choose" new anima...
Grade: 3-5

How Much is that Doggy?
Students will investigate the concept of total cost of ownership. They will brainstorm the costs of owning a dog or a cat. Students will calculate the total cost of ownership to help determine which might be the best pet for t...
Grade: 3-5

Economic Incentives in Our Community
Students will identify positive and negative economic incentives used in their communities to encourage people to make CHOICES beneficial to the community. Students will recognize that not all incentives convince all people, s...
Grade: 3-5

Competition: Pizza!
Students will learn about competition in the market place. They will understand that competition takes place when there are many buyers and sellers of similar products. They will discuss how competition among sellers results ...
Grade: 3-5

Where Did You Come From?
In this multiple intelligences lesson the students figure out why the United States imports some goods that we can grow right here!
Grade: 3-5

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 ...
Grade: 6-8

To Market To Market
This lesson will help students become good consumers and producers by taking turns buying and selling things in a classroom-created market. Students will establish prices for items and observe what happens during the sale of ...
Grade: K-2, 3-5

Fill 'er up, Please
Americans drive more than 2.6 trillion miles per year, that's 14,000 round trips to the sun! And for the most part, these vehicles are all running on gasoline. For many of us, we watch the price of gas as closely as the price ...
Grade: 6-8

Banks, Bankers, Banking
Students will demonstrate understanding of the processes associated with banking by role- playing as customers, tellers, and guards.
Grade: 3-5

When Gas was a Quarter!
Why do things cost so much more now than they used to? Students will find out about inflation in the United States.
Grade: 3-5

Destination: Mars
Look up! Can you ever imagine standing on another planet and looking down at earth? We've been to the moon - now lets launch an expedition to Mars. Imagine all the preparation you will have to go through in order to have a sa...
Grade: 3-5

Car Loan Project
Each student will buy (hypothetically) a car that will need to be financed. The student will need to look at different options and decide which will be the best choice for his situation. The student will need to find an adver...
Grade: 9-12

Show Me the Money!
Students will investigate unforseen costs of car loans and/or house loans. They will then evaluate the economics of decision making, the ramifications of their choices, and options available to them. Students will compute cost...
Grade: 9-12

Clean Land - Thanks to US!
In this lesson about the EPA, students will find out that their government pays for goods and services by taxing people and companies.
Grade: 3-5

One is Silver and the Other's Gold
Students learn about the money supply and that it can affect the value of money. Students investigate this in the 1896 presidential election (Bryan vs. McKinley, Free Silver vs. Gold Standard) and examine a political cartoon ...
Grade: 6-8, 9-12

Why Work Now?
Why do people work so hard? Why aren't you just assigned a job that you are interested in and get paid as much as the next guy? This lesson will show you why employers want the best workers that their money can buy!
Grade: 3-5, 6-8

Banking is INTEREST-ing!
Banks are important to Americans. We use banks to save money and earn interest, or borrow money and pay interest. This lesson introduces the concepts of banking to children.
Grade: 3-5

How is Our Economy Doing?
Students learn the meaning and measurement of six important economic indicators and use the St. Louis Federal Reserve Bank National Economic Trends website to assess the current state of the economy.
Grade: 9-12

Blowing in the Wind
Wind energy is becoming a viable alternative to more traditional forms of energy generation. In this lesson, students will determine the feasibility of wind generation in different areas of the United States. Finally, students wil...
Grade: 9-12

Fiscal and Monetary Policy Process and Interactive Quiz
Students follow each step of fiscal and monetary policy processes, to see the logic of how these tools are used to correct economic instability.
Grade: 9-12

Let's Find a Deal - How the Crusades Led to the Finding of the New World
The lesson will help students to discover the importance of the Crusades to the expansion of many European countries. Students will also be introduced to new products and find out why explorers were willing to risk all to l...
Grade: 6-8

Jelly Belly Jam
In this lesson students will make a decision making chart and use it to help them in deciding which flavor of Jelly beans to buy.
Grade: 3-5

Making Sense of the Census
The United States takes a Census every 10 years. How does the country use those statistics?
Grade: 3-5

The Little Red Hen
The Little Red Hen is a classic story for nearly all adults, and many children. Here it is retold and enhanced in order to provide a framework for illustrating and reviewing the concepts of productive resources and incentives...
Grade: K-2, 3-5

Lemonade and Cookies
Everyday countries trade their goods because they have the comparative advantage in making that particular good. In this lesson, you will read through an interactive story problem to learn about trade and specialization and th...
Grade: 6-8, 9-12

What Are Incentives?
Students will understand that incentives are used to encourage them to make good choices. After identifying incentives offered at home and in school, the students will distinguish between positive and negative incentives.
Grade: K-2, 3-5

Economic Spotter: Resources During World War II
In World War II pennies were made of steel and zinc instead of copper and women were working at jobs that men had always been hired to do. Why? Because during war times, scarcity forces many things to change!
Grade: 3-5

The Collapse of Corporate Giants: The New Dr. Evils?
This lesson was inspired by an article in "Fortune" magazine, "Why Companies Fail," May 27,2002. Its focus is on the relationship of business ethics to business bankruptcy or near failure. Students particip...
Grade: 9-12

Old Toy - New Market
Students explore the LEGOLAND theme parks and demonstrate an understanding of how new markets can be created and that cultural and social differences can affect these markets.
Grade: 3-5

Clickety Clack, Let's Keep Track!
This lesson will show students the importance of keeping track of their savings.
Grade: 3-5

Q T Pi Fashions - Learning About Credit Card Use
Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
Grade: 6-8, 9-12

Here's Your Chance to Make Millions in the Stock Market (Part 3)
In Part III of this lesson, students will have the opportunity to complete an interactive exercise that will take them on a historical tour of the stock market from Post WWII through the year 2001. Students will learn the dif...
Grade: 9-12

Here's Your Chance to Make Millions in the Stock Market (Part 2)
In Part II of this lesson, students will have the opportunity to complete an interactive exercise that will take them on a historical tour of the stock market from 1920 until just after WWII. Students will learn the difference...
Grade: 9-12

Here's Your Chance to Make Millions in the Stock Market (Part 1)
In this lesson students will learn about the impact that efficient markets have on attempting to correctly time the stock market, as well as how investing in stocks should have long-term investment goals. Part I begins by hav...
Grade: 9-12

Economic Spotter: Inventors and Entrepreneurs in the Industrial Age
The Industrial Age has also been called the Age of Edison. Edison patented more than 1000 inventions and gave rise to three industries: electric utilities, phonograph and record companies, and the film industry. This lesson w...
Grade: 3-5

Tic Tac Taxes!
This lesson will assist students in identifying various taxes and the services they help governments provide.
Grade: 3-5

Marketplace: Let's Go Euro!
With the start of the new year in 2002, the 12 members of the European Union launched a single currency across their borders, replacing individual country currencies and singling out the Euro as their one shared monetary deno...
Grade: 6-8, 9-12

Improving on the Original
What makes something worth marketing? This lesson focuses on the distinction between marketing a new product or licensing it to someone else to market.
Grade: 6-8

Constitution Costs
This lesson helps students understand the basic services provided for Americans in the United States Constitution and the necessity of a system of taxation to fund those services. Students will debate the pros and cons of hav...
Grade: 6-8, 9-12

Build Your Community
Students will learn about a variety of businesses and the service they provide to a community. They will build a town selecting seven business they feel would be the most important to have in order to live in this community.
Grade: K-2

Exchange Rates: How Money Affects Trade
Students learn how currency values are set by supply and demand, and how changes in the value of currency affect international trade. Students then find the value of the Brazilian Real in 2000 and 2002, determine whether the ...
Grade: 9-12

Who Get's More than Their Fair Share?
This lesson has students continue to explore a variety of ways to share, particularly when an obvious solution is not apparent.
Grade: K-2, 3-5

Ben & Jerry's Flavor Graveyard
Ben & Jerry are producers of ice cream. Even if they produce ice cream for the entire nation, they still must make choices on which flavor to produce! Scarce resources force them to make a choice!
Grade: 3-5

National Budget Simulation
Students serve as an Economic Advisor to the President, who must increase military spending out of political necessity, but needs to reduce spending in other programs to limit the deficit. Conflicting goals create a need for ...
Grade: 9-12

CPI- The Crystal Ball
Governments and other financial organizations are constantly measuring trends in the economy to try to predict what will happen next. The ability to successfully economic trends has a profound effect on whether or not a busine...
Grade: 9-12

It Pays to Stay in School
This lesson examines some of the incentive programs being offered to keep students in school
Grade: 6-8

Lemon Squeeze - The Lemonade Stand
Everyone has at one time or another opened a lemonade or Kool-Aid Stand. What a great place to begin an economics lesson. Students can taste test three brands of lemonade and compare prices with taste – is the most expen...
Grade: 3-5, 6-8

Why Adopt a Highway?
Students learn about the successful Adopt-a-Highway program and how it can save governments and taxpayers money.
Grade: 6-8

Multipliers and the Mystery of the Magic Money
Students learn about the purpose of the reserve requirement, how money is "created" in the economy through fractional reserves, and how the Federal Reserve uses the reserve requirement and loans to correct economic ...
Grade: 9-12

Market-Ability
Marketplace, a daily economics news program heard on National Public Radio, featured a story on January 8, 2002, titled "Microsoft Invades the Kitchen." In this segment, reporter Aaron Schachter describes consumers' ...
Grade: 6-8, 9-12

Inventive Incentive
There are many ways in which people are rewarded or penalized for doing, or not doing, their work. These are known as “incentives.”
Grade: 3-5

The Penny Problem
Students will research the cost of making the penny and the use of the penny. They will come up with reasons why the penny should or should not continue to be made and used.
Grade: 6-8

Music, Maestro, Please: Show Business and the Factors of Production
The city of Philadelphia, Pennsylvania recently opened a $300 million dollar center for the performing arts, the Kimmel Center. This lesson was developed for a special teacher workshop to incorporate economics and the arts to ...
Grade: 3-5

Capital Chips (Part 3)
Through the use of a historical timeline of the capital investments made by the company the resulting benefits will be examined. The benefits from the capital investments of Herr Foods, Inc. will be related to their effect on...
Grade: 6-8

Capital Chips (Part 2)
Through the use of a historical timeline of the capital investments made by the company the resulting benefits will be examined. The benefits from the capital investments of Herr Foods, Inc. will be related to their effect on...
Grade: 6-8

Capital Chips (Part 1)
Through the use of a historical timeline of the capital investments made by the company the resulting benefits will be examined. The benefits from the capital investments of Herr Foods, Inc. will be related to their effect on...
Grade: 6-8

Economic Spotter: Supply and Demand at the Gold Rush
During the Gold Rush, people paid exorbitant prices for ordinary objects. Why? Because of the laws of supply and demand, that's why! In the lesson, students will see how these laws fit into this great historical time.
Grade: 3-5, 6-8

Unemployment in My Hometown
Students use the Bureau of Labor Statistics website to track unemployment rates for their community, and after researching information about the industrial makeup of their community, explain whether their local unemployment ra...
Grade: 9-12

It's a Matter of Power
Students examine tradeoffs and profit- maximization decisions in the case study of Kaiser Aluminum, which decided to shut down aluminum production in favor of reselling electricity.
Grade: 9-12

What Does A Dollar Really Buy?
Students will describe the purpose of a price index, and how it is calculated. Then students will describe the weaknesses of the CPI, and interpret CPI data as a measure of economic health. Finally, students will identify who ...
Grade: 9-12

The Need for Money that Everybody can Use
The U.S. Currency currently has two faces. The old bills are being replaced with new designs. The study of the look of the bills will lead into a discussion of their usefulness for a segment of our population: the visually im...
Grade: 6-8

From Butterflies to Buffaloes
Nature tourism, also known as ecotourism, is a fast growing segment of the tourism industry. In this lesson, students learn what ecotourism is and explore how conservation of our natural resources can be profitable.
Grade: 3-5, 6-8

That's Not Fair! How Do We Share?
This lesson has students explore a variety of ways to share, particularly when an obvious solution is not apparent.
Grade: K-2

Comparative Economic Systems
Students research the economic systems of a communist country and a third-world country and compare them to the US, guided by questions and using information from the CIA World Factbook website.
Grade: 6-8, 9-12

Making Cents out of Centimes
Students will learn that most countries create their own currency for use as money. In most of Europe that money is now the Euro. Students will discover the use of Euros in this simulation and learn a little about exchanging ...
Grade: 3-5

Economic Spotter: Money in Revolutionary Times
Students take a trip back in time and spot economic concepts in a historical fiction tale. This time frame features Valley Forge in 1778. Take a look at the money used by the patriots and find out why some money couldn't buy a...
Grade: 3-5

A Moo-ving Experience
Students gain an understanding about non-profit organizations and the role they play in our economy. Students then learn about a relatively new type of fundraising effort, known as CowParade©, for non- profit organization...
Grade: 6-8

NYSE Made Easy Lesson Plan
This lesson will help students to understand the terms that are associated with the New York Stock Exchange. It will also help students to read a stock market report found in any major newspaper or online.
Grade: 9-12

The Right Job for 'The Tortoise and the Hare'
The Tortoise and the Hare live in a very nice village. The animals of the village own different businesses and their specialization works very well. Daniel Hare is the very fast mail carrier and Mr. R.S. Tortoise is the slow, ...
Grade: K-2

Stock Market Price History
Each of us seek to make wise investment decisions that will make our money grow. Unfortunately, we cannot predict the future, but the past can give us a window to understanding the risks and rewards of investing in the stock ...
Grade: 9-12

Economics in the Headlines
Students learn how to identify headlines in the news and current events as illustrations of problems in supply and demand. Students will be linked to news sites to create their own analysis of supply and demand issues in prob...
Grade: 9-12

Economic Spotter: Scarcity with the Lewis and Clark Expedition
The Lewis and Clark expedition was filled with scarcity issues. They made life and death choices based on scarcity. In this lesson, you will travel back to the early 1800's in a time machine and travel with Lewis and Clark. Se...
Grade: 3-5

Wages and Me
Students explore the reasons for differences in the wages for several occupations. Then students are guided through the Bureau of Labor Statistics website to find information about their potential careers and wage rates natio...
Grade: 9-12

The Shoemaker's Tools
After hearing the story, "The Shoemaker and the Elves," the students will find the capital resources of the shoemaker's business.
Grade: K-2

Country Mouse Makes a Decision!
Very young students will be able to make a cost/benefit chart for the Country Mouse after hearing the classic story.
Grade: K-2

Economic Spotter: Trade in Colonial History
Students take a trip back in time and spot economic concepts in a historical fiction tale. This time frame features Boston Harbor around 1680.
Grade: 3-5

Why cities provide tax breaks even when they are strapped for revenue
Like the state and federal government, local governments offer tax incentives to businesses to help solve economic and/or environmental problems. In this lesson students will explore the web sites of three different cities and...
Grade: 9-12

Costs and Benefits of 'The Three Little Pigs'
When we make decisions, it is good to compare costs and benefits. In the "Three Little Pigs," two little pigs could have used this decision making skill!
Grade: K-2

Is Globalization a Dirty Word?
Is globalization a dirty word? The shocking decision by Great Britain to leave the European Union seems to cast doubt on the viability of globalization. In this lesson you will access several types of information about the World B...
Grade: 9-12

I Can Dream Anything!
After listening to the song, 'I Can Do Anything', students discuss services that people in the community perform. This lesson will let students know that there are many careers out there and many choices to be made!
Grade: K-2

Human Capital For Money
The first part of this lesson introduces students to the terms human capital, occupation, salary, and wages. Part two of this lesson provides the students an opportunity to compare selected careers including median salary an...
Grade: 6-8

Who Pays for City Hall?
The students take a virtual field trip to City Hall in this kid-friendly site. This beginning civics/economic lesson will introduce your students to city government and teach economics on the way!
Grade: K-2, 3-5

NOT your Grandma's Lemonade Stand
After a review of elementary economic concepts, students will apply their understanding by playing an online computer game, Lemonade Stand. This game has the students competing against themselves and others to earn the bigges...
Grade: 3-5, 6-8

Rumble, Grumble, Gurgle, Roar
This lesson is about wants. Little Penguin is hungry and she wants to eat. This story is about how Little Penguin tries to get what she wants.
Grade: K-2

"Should You Learn to Fly?"
Students will define opportunity cost, and with this in mind students will list various career choices and salaries and calculate future value of money
Grade: 6-8, 9-12

What Makes an Entrepreneur?
What is it that makes someone an entrepreneur? What major characteristics do entrepreneurs exhibits? How do you know if a person is an entrepreneur or not? These are all extremely important questions about the concept of entrepren...
Grade: 6-8

Norman Rockwell's 'Curiosity Shop'
Students will look at a picture that Norman Rockwell painted about a Curiosity Shop. A little girl looks like she is about to purchase a doll. Her purse on her arm indicates that she might "exchange" money for the do...
Grade: K-2

Vincent van Gogh's 'Flower Beds in Holland'
Students study a painting by van Gogh called, "Flower Beds in Holland." The students recognize that this farmer made a choice to grow flowers instead of another crop. Students are introduced to the concepts of choice...
Grade: K-2

The Economics of Recycling
Students will review the legislation in Japan that requires all consumers to pay a fee for recycling large appliances.
Grade: 9-12

Little Star's Problem
Little Star has a problem, she wants a best friend. Learn how Dora and Boots help Little Star solve this problem and introduce the word "cost" in decision-making.
Grade: K-2

Tricks for Treats
Students will recognize that people (and animals) will work for incentives.
Grade: K-2

The Mystery of the Amazing Farmers
In this lesson you will be taking on the role of an an investigative reporter to solve the Amazing Farmer Mystery. The goal will be to use seven clues provided throughout the lesson in order to figure out how so few farmers ca...
Grade: 3-5, 6-8

What Do People Do?
Students will give examples of human resources that are producers, and identify goods and services produced by workers.
Grade: K-2

What Do Other People Want To Be?
In this lesson, students will graph people's job choices and identify which jobs would have the most competition based on the data.
Grade: K-2

A Fair Wage
Income for most people is determined by the market value of the productive resources they sell. What workers earn depends, primarily, on the market value of what they produce and how productive they are.
Grade: 6-8, 9-12

What Do You Want To Be?
In this lesson, students have the opportunity to explore various jobs and decide what they might want to be when they grow up through an interactive activity.
Grade: K-2

Free Ride
Free Ride helps students identify goods and services provided by the government and evaluate the cost of government provided goods and services.
Grade: 3-5

Delivering the Goods
Delivering the Goods K-2 Economics Lesson. In this lesson, students have the opportunity to complete an interactive activity that teaches them about providers of goods and services.
Grade: K-2

Dog Gone Job!
Dog Gone Job! demonstrates how job specialization increases productivity
Grade: K-2

Woof! Woof! At Your Service
Woof! Woof! At Your Service helps demonstrate that economic desires can be satisfied by providing goods and services.Identifies goods and services provided by one small business Differentiates between goods and services
Grade: K-2

My Credit Rating: Why Should I Care?
Credit is a wonderful tool for the consumer. It can enhance your quality of life. It enables you to buy and enjoy a purchase before you have the money to pay for it. On the other hand, it can create serious problems for people who...
Grade: 9-12

The Role of Government: The Federal Government and Fiscal Policy
How does the Federal Government spend the trillions of dollars it raises from taxes?  Students will read excerpts from “A Citizen’s Guide to the Federal Budget” and use infographics from the Congressional Bu...
Grade: 9-12

The Controversial School Voucher Issue
Recently, the concept and use of school vouchers has come to the forefront of political, societal, constitutional, and economical discourse. From Florida's new voucher program to the presidential political debates, school vou...
Grade: 9-12

The Role of Government: The National Debt vs. The Deficit
This lesson defines and compares the National Debt with the Federal Budget Deficit. Students will discover the differences between the two and look at current trends. 
Grade: 9-12

The Mystery of the Voters Who Don't Vote
Americans are known around the world for their love of liberty and democracy. Many Americans have fought and died to protect their system of government and way of life. Free elections are central to that system of government. Toge...
Grade: 9-12

The Changing Face of Money
In this lesson, students play a game to guess which objects have been used as money throughout history. In the process, they learn several basic economic concepts. For instance, money must be a unit of account, meaning that it mu...
Grade: K-2

Nothing to Buy
Students compare the Soviet-era marketplace with present-day Russian marketplace.
Grade: 3-5

Off to Interactive Island
This activity provides a fun way to explore concept of economic decision making. In the lesson, students are given a limited number of “tokens” and asked to exchange those tokens for goods in preparation for pioneeri...
Grade: K-2

Car Shopping in a Command Economy
Contrary to US methods of distribution (namely prices), the Soviet Union used different methods of distribution of its goods during the reign of Communism. This lesson will explore the benefits and consequences of each of tho...
Grade: 3-5

The Costs of Credit
"Will that be cash, check, debit, or credit?" This lesson plan explores the difference between these. What is the difference? Is using credit the same as paying with cash? Or by check? Or by debit card? Some young people...
Grade: 9-12

Increasing Productivity
This lesson stimulates students' thinking with stories about rigorous athlete training illustrating the importance of training and practice. After students read the story, they will experiment to see how instruction and pract...
Grade: K-2

On The Money
In this lesson, students explore what money is and how it differs around the world. They will compare U.S. currency with play money and with foreign currency. They will then use their knowledge to design their own money.
Grade: K-2

Eureka!
Take a look at how inventions, such as plastic, have changed our lives and how they are changing the future of living in space. Students explore the concept of invention and innovation by studying the use of plastics. Various uses...
Grade: K-2

Water, Water, Everywhere
In this lesson, students will identify water and land as examples of natural resources investigate sources of water and identify some ways in which humans make use of water as an economic resource, specifically for agricultur...
Grade: K-2

Buying vs. Renting
Have you given any thought to where you will live when you are "on your own" - out in the world earning a living? You will have many decisions to make as you look for a place to call home. In this lesson, your basic econ...
Grade: 9-12

Should I Use Cash or Credit?
To use or not to use credit for a major purchase is an important decision. There is a nifty process in making such decisions-one that has been useful to many young people. They have used it not only for credit decisions but also f...
Grade: 9-12

The Economics of Income: Which 'Wood' You Choose?
A key turning point in a nation's economic development is when it starts to use its resources for long term versus short term purposes. A natural resource example is trees: should people use wood for cooking food or building homes...
Grade: 9-12

The Economics of Income: If You're So Smart, Why Arent You Rich?
The purpose of this lesson is to help you explore the relationship between education and income. Income is earned from one's resources. Those resources might be natural resources (oil field, farm land), capital resources (man-mad...
Grade: 9-12

The Economics of Homebuying
This lesson provides an overview of the basics of buying a home for the first time. Your students may make this decision sooner than they think. Although buying a home is the largest financial decision most people make, two-thirds...
Grade: 9-12

The Economics of Income: The Rich Nations Mystery
Why are some countries very wealthy and others so poor? In this lesson you will learn about the factors that contribute to a nation's standard of living.
Grade: 9-12

The Return of Sacagawea
Sacagawea returned to America in 2000. Actually, the golden dollar coin bearing the image of Sacagawea, began circulating then. It premiered to rave reviews! This coin features the profile of Sacagawea, the Shoshone woman who serv...
Grade: 6-8

Income: It Ain't Where You Start, It's What You Got, and Where You End
This year's federal elections will involve electing a president, all members of the House of Representatives, and one third of the Senate. Barring some international crisis, economic issues appear likely to dominate the debat...
Grade: 9-12

'You Paid How Much for That Ticket?'
Have you ever been the victim of discrimination? That is, have you ever been treated differently from other people based not on your individual merits but because of your age, your gender, or your race? Not sure what discrimi...
Grade: 9-12

'Be All You Can Be'...For Minimum Wage?
Perhaps you have seen the catchy TV ads for the various branches of the United States military. You know, the ones that tell you to "be all you can be...in the Army!." In the last decade, these advertisements have become...
Grade: 9-12

Do You Have a Yen to Go to College?
Carlos is a senior at local high school. When he graduates, he plans to study computer animation. He has applied to a number of two- year programs, and recently, he received letters of acceptance from four schools, one in the ...
Grade: 9-12

The Economics of Professional Sports: If You Build It, Will They Come?
Special interest groups are able to have a substantial impact on the political system. Such groups can provide valuable services to individuals and to elected officials. They also can generate substantial benefits to a small minor...
Grade: 9-12

The Economics of Professional Sports: Underpaid Millionaires?
Over the last century, professional baseball has grown to become one of the most popular forms of American entertainment. Indeed, the sport's nickname - "America's Pastime" - has become embedded in the nation'...
Grade: 9-12

Save the Moonflowers
Margaret Mee (1909-1988) was a botanical artist who often traveled up the Amazon River alone in search of rare flowers to collect and paint. Even at the age of 79, she planned to return to the Amazon for another excursion. O...
Grade: 9-12

How Long Is Your Life?
High school students have rarely been asked to look at their future beyond where they will be going to college or what job they think they will have. This lesson asks you to think in a long-term perspective. By using a timeline,...
Grade: 9-12

Where Does the Money Come From?
With very few exceptions, the U.S. federal government does not have an "income" to spend providing goods and services. The money used for federal spending programs must be collected as federal taxes, or it must be...
Grade: 6-8

The Story of Jack and the Bank Stalk
Fairy tales have always been used to give lessons about life. The story of Jack and the Bean Stalk is a good lesson about the importance of knowing about money and banks. The story of Jack asks the question, "What is mon...
Grade: 3-5

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: 3-5, 6-8

Pennies Make Cents
Students will review the history of trade before money and will investigate the history of money. Students will locate information about the first coin authorized by the United States and will learn about the penny.
Grade: 3-5

Changes in Change
This lesson begins with students visiting a web site that gives them practice in counting money. The second site goes one step further in that students are given opportunities to make change for make-believe purchases.
Grade: 3-5

Bill, Are You Bogus?
In a barter system, people have to trade goods and services for other goods and services. In an economy that produces millions of goods and services, barter is very difficult. Think of all the stuff (goods and services) you h...
Grade: 3-5, 6-8

What Does the Nation Consume?
This lesson will focus on what the nation consumes and how that is measured by Gross Domestic Product (GDP). In the United States, the goods and services produced for household consumption account for about two-thirds of tota...
Grade: 6-8

A Penny Saved is a Penny at 4.7% Earned
There are lots of ways to receive income, and lots of ways to spend it. In this EconomicsMinute you will develop two budgets, or plans, to help you decide how to allocate your income. Assuming you do not love making dollar bi...
Grade: 6-8

Frontier Specialists
The level of output in an economy can be increased through specialization. Economic specialization occurs when people produce different goods and services than they consume. It requires people to exchange goods and services.
Grade: 6-8

Old Business, New Business
In this lesson students are introduced to several businesses from the past. They see that, while the names for these businesses are different, many of the elements of that job are seen in occupations today. The web site, &q...
Grade: 3-5

I Have No Money, Would You Take Wampum?
Through the use of folk tales, history, and the students' own experiences, students will recognize the inter-relatedness of goods, services, money. They will locate information about barter as a means of trade, use folk tale...
Grade: 3-5

The Big Mac Index
How fast can you say "twoallbeef-pattiesspecialsauce-lettucecheesepickles-onionsonasesameseedbun?" This question was asked of millions of TV viewers in the now famous 1970s McDonald's television commercial promoting ...
Grade: 9-12

An Entreduction
This lesson illustrates the differences between inventions and innovations. It discusses what entrepreneurs are and their role with inventions and innovations.
Grade: 3-5

NAFTA: Are Jobs Being Sucked Out of the United States?
NAFTA, the North American Free Trade Agreement, went into effect on January 1, 1994. The Agreement phases out most tariffs between the United States, Canada, and Mexico. Tariffs, which are taxes on imports, increase the price ...
Grade: 9-12

The Opportunity Cost of a Lifetime
All economic questions and problems arise from scarcity. Economics assumes people do not have the resources do satisfy all of their wants. Therefore, we must make choices about how to allocate those resources. We make decision...
Grade: 6-8

Let's Talk Turkey: The Cost of Thanksgiving Dinner
How does your family celebrate Thanksgiving? Are you joined by friends and/or family for a special feast? What do you eat? Most American families celebrate Thanksgiving by cooking turkey. According to EatTurkey.com, approx. 88...
Grade: 9-12

Economic Forecasting: An Internet WebQuest
Economics is often called the "science of decision making." The decisions that economists analyze range from personal decisions such as how big a pizza to order or whether to buy or lease a new car to the decisions ...
Grade: 9-12

Who Knows What Inefficiencies Lurk in the Hearts of Rent Controlled Housing Markets? The Shadow Market Knows!
Imagine that you've just graduated from college and have been offered a position with a firm in New York City. You can't wait to start living in your own apartment. Your Aunt Bernice, who lives in Brooklyn Heights, has offered...
Grade: 9-12

The Economics of the Family Farm
Learn about the status of farming as a career, investigate the management of a family farm, and examine one recent farm crisis in this lesson. You'll need the Adobe Acrobat Reader to view some of the materials for this article...
Grade: 9-12

I'll Trade You a Bag of Chips, Two Cookies, and $60,000 for Your Tuna Fish Sandwich
Okay, so your tuna fish sandwich probably isn't worth a couple grand. It's most likely made with a type of tuna called albacore. But, on the docks in Tokyo different kind of tuna, related to the stuff in your sandwich, is sold...
Grade: 9-12

Trish and Scott's Big Adventure: An Investigation of Regional Housing Costs
This lesson has students explore differences in regional housing costs, determine the percentage of gross income spent on housing, assess the impact of housing costs on a relocation decision and recognize wages and housing costs a...
Grade: 6-8, 9-12

The Wizard of Oz Visits Japan
Deflationary conditions in the United States have not returned since the Great Depression. Instead, U.S. policymakers have frequently found it necessary to battle inflation over the past sixty years. While not a problem in A...
Grade: 9-12

National Parks: Only You Can Prevent the Coming Crisis
What do you think of when you think of the National Parks System? Do you think of the majesty of the Grand Canyon and the redwoods of Northern California? Or does the serenity of Cape Cod and the Everglades come to mind?
Grade: 9-12

Tapped Dry: How Do You Solve a Water Shortage?
Economists do not operate in a vacuum. If an economist is going to suggest that the price of a good needs to be increased, he or she needs to consider who will bear the increase in costs. Will the costs be distributed equally ...
Grade: 9-12

Hey, Mom! What's for Breakfast?
In this lesson students working in cooperative groups will: 1.Discuss food items they consume for breakfast. 2.Investigate elements of foreign culture, particularly food. 3.Use map skills to locate selected foreign nations....
Grade: 3-5

Paraffin-alia
All resources are limited. It is this simple fact--scarcity--that forces us to make decisions. When we do make a choice, we pass up some other opportunity. Opportunity cost is defined as the next best alternative not chosen, ...
Grade: 3-5

The Road to Emerald City Is Paved with Good Intentions
'The Wizard of Oz' is perhaps the most popular film ever made. Generations of families have enjoyed this classic tale of Dorothy's struggle to return home from a faraway land. What is not well known, however, is that 'The Wonderfu...
Grade: 9-12

Time Value of Money
Suppose your brother or sister owed you $500. Would you rather have this money repaid to you right away, in one payment, or spread out over a year in four installment payments? Would it make a difference either way?
Grade: 6-8, 9-12

The Early 1980s: A Tough Time For Home Builders and Mortgage Bankers
Have you ever thought of how much it might cost you to finance the purchase of a home? The home's purchase price is likely to be many times the yearly income of the typical household. If families waited until they had accumul...
Grade: 9-12

Economic Freedom, Political Freedom: Their Meaning, Their Results
The Declaration of Independence, the Constitution and the first ten amendments to the Constitution (the Bill of Rights) reflect the United States founders' desire for individual freedom and their opposition to the centraliza...
Grade: 9-12

Population Growth: Friend or Foe?
The environment has recently been the focus of much research and discussion. Because productive resources are limited, it is important that we use resources wisely to ensure that resources will be available for use in future...
Grade: 9-12

Economic Indicators
How do economists make their forecasts about the U.S. economy? What are the economic indicators that help forecast economic activity and business cycles? In this lesson you will be able to retrieve up-to-date, key economic statist...
Grade: 9-12

Rationing Transplants: An Ethical Problem
On November 1, 1999, Walter Payton, former Chicago Bears running back, died waiting for a liver transplant. Payton's death re-opened the nation's attention to the issue of organ donation. The National Organ Transplant Act of 1984 ...
Grade: 9-12

Money is What Money Does
Throughout history, a wide variety of items have served as money. These include gold, silver, large stone wheels, tobacco, beer, dog teeth, porpoise teeth, cattle, metal coins, paper bills, and checks. All of these types of money...
Grade: 9-12

To Keep the Strike Going or to End It? That Was the Question
According to the Merriam Webster's Collegiate Dictionary, tenth edition, the term "strike" is defined as a "temporary stoppage of activities to protest against an act or condition." This is what the NBA players...
Grade: 9-12

If You Hear a Hoot, Then This Site is Kaput
Should the Endangered Species Act of 1973 be left alone so the legal system is left to decide the toughest cases? Should the Endangered Species Act of 1973 be revised in order to increase economic growth without endangering listed...
Grade: 9-12

The American Standard of Living - For Better or For Worse
Is the distribution of income in the United States becoming more unequal? Does the average American today have a higher or lower standard of living than the average American of a generation ago? Will the next generation have a hig...
Grade: 9-12

Are the Best Things in Life Free?
Students use economic reasoning to analyze the costs and consequences of marital choice. "The best things in life are free." This idea is widely expressed as a maxim by people who know nothing of its origin. They know it's true th...
Grade: 9-12

$16 Billion to Host the Summer Olympic Games: Is it worth it?
Students learn about costs and revenues related to the 2016 Summer Games in Rio de Janeiro. Discussion questions about estimated benefits and costs to the host city are presented. Monetary and intangible costs and benefits are als...
Grade: 9-12

Martin Luther King Jr. Day
January 18, 2016 is Martin Luther King Day. Students can explore the history behind this day and this charismatic man by following the links below. By completing the lesson which follows, students will learn that Civil Rights legi...
Grade: 6-8, 9-12

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