Introduction to Economics

Students discuss the definition of scarcity and tradeoffs, and the differences between choice and cost. They create budgets and must provide tradeoffs for some of their choices.

Use this resource as a basic review of economic principles. There are six questions relating to the factors of production, opportunity costs, wants and needs, tangibles and intangibles, and more.

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...

As Sal introduces a series of videos on investing, he gives scholars an overview of stock investments and asset valuation. Using two hypothetical stock prices, he poses the question of relative price per share. What is expensive and what...

The 19th podcast of a 21-part series on economics focuses on the costs of production when running a business. Historians analyze the difference between fixed, explicit, and implicit costs. They use mathematical equations to find total...

Students study the basic economic trilogy (scarcity, choice, and costs). In this money management lesson, students use a scenario of a High School Prom to calculate how scarcity, choice and cost apply by completing provided worksheets...

The concept of opportunity cost challenges historians to analyze how some choices come at a loss in the opening lesson of a 21-part economic series. Podcasts offer insight into the subject of what a decision costs the consumer....

Imagine a pizza place offers your school free pizza for lunch. No strings attached, right? Not so, say economists. Using a video from the Fed, young scholars examine the meaning of concepts such as scarcity and opportunity cost to...

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...

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...