Federal Reserve Bank
Lesson 1: Katrina Strikes
Most families have an emergency kit in their home with flashlights, water, and extra food. But what happens to your money when disaster strikes? An economics lesson plan focused on the aftermath of Hurricane Katrina in 2005 demonstrates...
Carolina K-12
Comparing Economic Systems
How do people make decisions in a world where wants are unlimited but resources are not? How do individuals and governments utilize scarce resources (human, natural, and capital) in different economic systems? Introduce your learners to...
University of Texas
Scarcity
How can having too little of something impact your life? Scholars investigate the concept of scarcity in their own lives and in the overall picture of the economy. Brainstorming activities as well as student-parent work bring to light...
Curated OER
Chapter 1: The Nature and Method of Economics
If the extent of your class' economic knowledge is the five-dollar bill they spent on lunch, then this presentation will be a good introduction to economics. From the basics of policy economics versus theoretical economics, to the...
Federal Reserve Bank
What Are the ‘Ingredients’ for Economic Growth?
Delve into the concept of economic growth with your class members, including why economic growth is important, what causes it, and how can countries encourage it.
Council for Economic Education
Teaching Economics Using Children's Literature
Introduce young learners to the subject of economics using their favorite stories and books. Including 24 separate lessons, this guide covers economic principles such as trade, scarcity, consumer goods and services, renewable and...
Curated OER
Econ in a Bag
Here is a nice idea, have your young entrepeneurs form their own companies. Each company is given a paper bad to locate and place resources in that they can use to create products their businesses sell on Sale Day. They identify and...
Curated OER
Economics during the Civil War
Learners synthesize the concepts of scarcity, supply, and demand, pertaining to the Civil War time period. In this economics instructional activity, students gain understanding of economic terms through read-alouds, Venn diagrams,...
Education Fund
Fear the Scarce Resources
In a life or death situation, what resources would you choose to survive—and why? A zombie attack simulation teaches learners the concepts of scarcity and resources in regards to economics. The hands-on activity requires individuals to...
Federal Reserve Bank
Choices Are Everywhere: Why Can’t We Just Have It All?
Here is a resource covering a range of terms and concepts regarding scarcity, opportunity cost, and government debt in economics.
Curated OER
Beach Burgers
Twelfth graders develop economic literacy of basic economic problems confronting all societies. Economic decision making, scarcity to make choices, economic confronts, market system, prices, demand curves and supply curves are all covered.
Curated OER
Scarcity, Choice and Decisions
Students study the basic economic trilogy (scarcity, choice, and costs). In this money management instructional activity, students use a scenario of a High School Prom to calculate how scarcity, choice and cost apply by completing...
Curated OER
Introduction to Economics
Learners discover the basic economic problem: scarcity; examine how "there is no such thing as a free lunch" (opportunity costs); and define economics. They act out a play demonstrating basic economic principles.
Curated OER
Family Money Matters: Exploring the World of Economics
Pupils become familiar with vocabulary related to spending money. In this economics lesson, students participate in activities to learn about spending money and budgets.
Curated OER
Scarcity and Choices
First graders gain an understanding of the scarcity of resources and how it affects the choices that we make in our everyday lives. Students will participate in a variety of activities such as literature analysis, shopping, journal...
Council for Economic Education
Production Possibilities Curve
Demonstrate the important economic principles of the production possibilities curve, including how to calculate opportunity cost and graph curves by using a table or calculation. Learners use a variety of methods, including videos,...
Curated OER
Economics Unit I - The Basics
Twelfth graders access how scarcity requires individuals and institutions to make choices about how to use available resources. They explore the characteristics of different economic systems and institutions. Student are able to describe...
Curated OER
Scarcity and Opportunity Cost - To Choose Is To Refuse
Students are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...
Curated OER
Economic Decisions
Young scholars practice decision-making skills by planning vacation, including all proposed expenses. Students distinguish between needs and wants, identify difference between goods and services, and describe economic resources used in...
Curated OER
Economic Forces
Students explore the economic forces of scarcity and choice. They examine how these forces affect the management of personal financial resources, shape consumer decisions, and the economic well-being of society. Students research stock...
Council for Economic Education
Great Civilizations Develop around Rivers
If you lived in prehistoric times, what kinds of choices could your family make to increase their chance of survival? By making similar decisions in a simulation game, participants discover how specialization creates both opportunity and...
Curated OER
Distribution of Goods
Students study the concept of scarcity and that it requires people to make choices when trying to satisfy their unlimited wants. Groups are given bags of items and must distribute the items in the bag in a way that is acceptable to...
Curated OER
Micro Economics - Personal Budgeting
High schoolers explore the real world as it relates to money and how people use it. In this money management lesson, students jump into the real world as they role play with money through spending, saving, being married, single, having...
Curated OER
The Game of Business
Students practice the economic concepts of scarcity and opportunity cost. They imagine creating their own businesses and brainstorm what they need to know in order to determine when the business is profitable.