Economic Theory Lesson Plans

Learners work as a group to research a current issue, articulate the key points relating to the issue and to have data to support those key points, and use appropriate economic theories to help explain the issues arising.

Twelfth graders explore concepts of economic theory. In this economics lesson, 12th graders read handouts and listen to lectures on supply, demand, scarcity, trade-off, opportunity cost, recession, and depression to foster an understanding of these basic economics concepts.

Students explore the root causes of inflation. In this economics instructional activity, students examine data about Gross Domestic Product (GDP) that is included in the instructional activity. Students also discuss inflation and unemployment statistics.    

Third graders identify producers and consumers in SE Utah and Four-Corners communities. They identify the factors that determine economic development and name some occupations in their community. They show and share their graphic organizers across cooperative groups.

Write about economic and banking issues of concern to the public. Investigate lending discrimination and the impact of the 1977 Community Reinvestment Act. Use a guide to do research and write an essay.

Students examine data from the U.S. Bureau of Labor Statistics (BLS) on the consumer price index (CPI) and rate of inflation for March 2010. In this economic data activity, students review charts, graphs and information provided in order to answer questions over changes in CPI, economic conditions and the impact of inflation and deflation on groups in the U.S.

Eleventh graders, in groups, design a self-sufficient community. Groups present the communities they've designed. They compare and contrast the communities presented. They research online the theories of Johann Heinrich von Thunen. They re-evaluate their communities.

Learners investigate the living wage. In this economics lesson, students read excerpts from "The Employment Effects of Living Wage Laws," and "The Living Wage Movement." Learners then respond the provided discussion questions on the issue and determine their stances on the issue.

Students explore the role of government in the economy market. In this economics instructional activity, students analyze the decision making and how it takes into consideration additional cost, benefits and public awareness of what they are trying to accomplish. They discuss marginal costs.

Students create a poster which depicts and summarizes Rostow's 5 stages of economic development. They make a list of 8 data measures that help identify which level of economic development a country is at. They gather data and determine China's status as DC or LDC.