Money–What Is It Good For?
Objectives/Purposes: The purpose of this lesson is for students to understand how economists think about money. Students will be able to explain money as a unit of exchange. Students will be able to...
View ArticleDivision of Labor–Taking Advantage of Efficiency
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is for students to understand specialization and the...
View ArticleSunk Costs
Objectives/Purposes: The purpose of this lesson is for students to understand the concept of sunk costs. Students will be able to define sunk costs. Students will understand why economic theorists...
View ArticleDeconstructing Supply–What Makes a Supply Curve?
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is for students to understand where Supply curves...
View ArticleCompetition 101 — Perfect Competition, Oligopoly and Monopolies
Objectives/Purposes: The purpose of this lesson is for students to differentiate monopolies and oligopolies from perfect competition Students will be able to define competition Students will be able...
View ArticleSide Effects — Positive and Negative Externalities
Objectives/Purposes: The purpose of this lesson is for students to understand positive and negative externalities. Students will be able to define externality. Students will consider both positive and...
View ArticleFrom Public to Private — Non-excludable, Non-rival Goods
Objectives/Purposes: The purpose of this lesson is for students to understand public goods, and distinguish them from other goods. Students will be able to define rivalry and excludability from an...
View ArticleTragedy of the Commons — Protecting Public Goods
Common Core Standard(s): Mathematics (S-IC), “Make inferences and justify conclusions from sample surveys, experiments, and observational studies” Objectives/Purposes: The purpose of this lesson is to...
View ArticleRegulate — Government Interventions
Objectives/Purposes: The purpose of this lesson is for students to understand how and why governments intervene in the marketplace. Students will understand the relationship between externalities and...
View ArticleMonopoly Money — Perfect Competition and Monopoly Rents
Objectives/Purposes: The purpose of this lesson is for students to differentiate monopolies from perfect competition. Students will be able to define competition. Students will be able to define...
View ArticleUnintended Consequences — Positive and Negative Externalities
Objectives/Purposes: The purpose of this lesson is for students to understand positive and negative externalities. Students will be able to define externality. Students will look at corporate...
View ArticleUnlimited Preferences — Defining and Measuring Utility
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems.” Objectives/Purposes: The purpose of this lesson is to introduce students to the concept of utility....
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Gaming the System — Playing with Supply and Demand
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is to give students first-hand experience in...
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Shifts — What Can Change Supply & Demand?
Objectives/Purposes: The purpose of this lesson is for students to understand the major factors that affect aggregate supply and demand. Students will be able to explain the causes of a shift in...
View ArticleMultiple Choice — What Is My Best Alternative?
Objectives/Purposes: The purpose of this lesson is to encourage students to think of the hidden costs of running a business. By introducing students to the concept of opportunity costs, students can...
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Balancing Acts — Finding Equilibrium Price
Common Core Standard(s): Mathematics (A-SSE), Interpret the Structure of Expressions Mathetmatics (A-REI), Understanding Solving Equations as a Process of Reasoning Objectives/Purposes: The purpose of...
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Dis(Equilibrium) — Who Sets Prices Anyway?
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is to introduce students how price emerges from...
View ArticlePublic Service Announcement — Non-excludable, Non-rival Goods
Objectives/Purposes: The purpose of this lesson is for students to understand public goods and distinguish them from other goods. Students will be able to define rivalry and excludability from an...
View ArticleBringing It All Together — Supply and Demand Game
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is to give students first-hand experience reacting...
View ArticleFrom Many, One — Developing Aggregate Supply and Demand
Common Core Standard(s): Mathematics (N-Q), “Reason quantitatively and use units to solve problems” Objectives/Purposes: The purpose of this lesson is to introduce students to the law of supply and...
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