Economic Concepts Teacher Resources
Find Economic Concepts educational ideas and activities
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Identifying Economic Concepts in Literature
After reading Annie and the Old Ones, the class chooses an idea they agree with about Annie's actions and explain their opinion to a partner or the class. They work together to identify at least one economic concept from the book. This is a short activity rather than a fully realized lesson.
Town, Tales, and Timelines
Second graders study Ancient India, Ancient China, and/or Modern Japan in an integrated unit lasting between 6-9 weeks. Economic concepts are taught for each country, and the art teacher integrates art from these countries culminating "town simulation event."
Globalization: Threat or Opportunity for the U.S. Economy?
Students study the pros and cons of globalization. They highlight the economic concepts of comparative advantage, specialization, and opportunity cost. They read and discuss the "FRBSF Economic Letter: Globalization: Threat or Opportunity for the U.S. Economy?"
Cooking in A Closet: Supply and Demand on a Submarine
Students define choice, cost, supply, demand, and scarcity. They apply the terms in an economic sense to a historical event. Finally, students read an excerpt from the oral history interview with a submarine veteran conducted by the Arkansas Inland Maritime Museum and relate economics concepts to the interview excerpt.
Ben & Jerry's Flavor Graveyard
Students write a letter to the stockholders of a pretend video game company. They explain, using economic words, why the company has decided to stop making one of its games. They apply the economic concepts of scarcity, productive resources, and entrepreneurship to an analysis of Ben & Jerry's ice cream company.
Work, Earnings, and Economics: Using Lyddie
Students define the economic concepts of sarcity and opportunity cost. They discuss ow incentives influence the behavior of individuals, in encouraging saving. Students discuss how interest rates affect savers and borrowers. They explore the emergence and growth of industralization in the United States in the 19th Century.
Using the Class Store to Teach Economic Principles
Learners examine concepts associated with money such as spending vs. saving, supply and demand, opportunity cost, and inflation that are appropriate for their grade level. They listen to books about money concepts and complete associated worksheets over a period of weeks. They participate in class store activities to reinforce the economic concepts they studied.
One Hen: How One Small Loan Made a Big Difference
Students discover the attributes of small business owners. In this economics lesson, students participate in a classroom activity that requires them to learn the meaning of economic concepts related to entrepreneurs and then play a review game of H-E-N Bingo.
Kids as Decision Makers - Distinguishing Between Needs And Wants
First graders have hands-on experiences with sorting pictures into groups according to the social studies objective: The learner apply basic economic concepts to home and school. This lesson focus on distinguishing between wants and needs.
Economics: Market Surveys
Students review the economic concepts and terms introduced in previous lessons. They analyze several scenarios in which they must review business records. They conduct a detailed report covering the steps necessary to start a business.
Deregulation and the California Utilities
Students examine the economic concepts involved in the deregulation of California Utilities.
Those Golden Jeans
What do pizza, jeans, and gold have in common? Give up? They are all products that require natural, human, or capital resources to be mined or produced. They also require a market price that can fluctuate with the ebb of supply and demand. Learners complete a variety of activities to examine these very basic economic concepts. Note: Lots of additional resources are included in with the lesson.
Money Smart children
Students elementary financial vocabulary words: spend, save, invest and donate. In this finance instructional activity, students respond to the story "Sam and the Lucky Moon." Students describe the concepts of wants and needs, resources, scarcity, opportunity and cost. Students define spend, save, invest and donate.
Pre WWII Germany - Inflation
Eleventh graders differentiate between inflation and hyperinflation. They explain the economic conditions in Germany before WWII and the roles of government in a market economy. They analyze the importance of keeping inflation under control in an industrialized country.
Lesson 9: Tracking Commodities
Over the corse of a month, small groups will monitor the price of a specific energy commodity and analyze it in relation to global and domestic events. They play a trade simulation game and create infographics showing what they've learned throughout the process. Web and video links are provided.
History of the American West
Ninth graders research early mining in California. They study the "placer method" for mining gold, which is surface mining that does not involve tunneling. They examine what it was like for the early miners to pan for gold with simple tools in 1848 and 1849 in California.
Making the Classroom Desk a Trading Desk
Create a stock market simulation to motivate pupils and make economic concepts meaningful.
Car Loan Project
What high school kids doesn't want a car? Motivate your economics class with this real life economics lesson. They use their knowledge of economic concepts and mathematical calculations in deciding, hypothetically, what car to buy and how to finance the purchase. They work with their families to experience a real-life math and economics application.
Students examine the concepts of trade-offs and opportunity cost to decide between savings accounts with simple interest and those with compound interest. They calculate interest earned on account balances while working in groups and make a decision on which is the best option.
M & M Interesting
Middle schoolers compute and collect interest payments in the form of M&M candies. In this mathematics lesson, students work in small groups to compute either simple or compound interest. They compare the growth of their accounts after six cycles. A recommendation to "pay" the middle schoolers in M&M candies is made to make the lesson more interesting for the students.