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Online LessonsOnline Economic Lessons
EconEdLink is a leading source of online economic and personal finance lessons and resources for educators, students and afterschool providers. OverviewBrowse EconEdlink online economic and personal finance lessons by Lesson Type, Concept, Standard, Grade, Interactive Resource, Author or word search. Economic Lessons: Grades K-2 Economic Lessons: Grades 3-5 Economic Lessons: Grades 6-8 Online Mathematics and Economic Lessons
EconEdLink is a leading source of online economic and personal finance lessons and resources for educators, students and afterschool providers. OverviewSample lessons used in Mathematics and Economic workshops through a grant provided for by the Toyota USA Foundation
Mathematics and Economic Lessons: Grades 3-5 Mathematics and Economic Lessons: Grades 6-8 It Pays to Stay in SchoolInsurance LessonSharing Risk: The Purpose of Insurance - High School Level OverviewThis lesson uses a brief random-number simulation to illustrate the purpose of insurance. People buy insurance to share risk across a large group of people. Insurance is most appropriate if the potential monetary loss is great but the chance that the loss will occur is much less. For the simulation each student is assigned a number. A number is drawn, and the student assigned that number has an automobile accident that costs $2,000. A class discussion of risk, sharing risk, premiums and probability follows. This Lesson Underwritten by a Grant From: The Allstate Foundation
Insurance LessonTypes of Insurance - High School Level OverviewPeople buy insurance to protect themselves from potentially large financial losses. Insurance is a strategy of sharing risk with other people. The most common types of insurance cover risks which can cause large financial losses. This lesson describes the most common insurance policies. Then the students work in small groups to determine which coverages are most appropriate for people in various circumstances. This Lesson Underwritten by a Grant From: The Allstate Foundation
Economic Decision-Making LessonScarcity and Opportunity Cost - Middle School - Grade 6 OverviewThis lesson introduces students to the concept of scarcity. Scarcity exists because resources are limited and wants are unlimited. Because of scarcity, everyone must make choices. For each choice we make, we must give up something. Choosing is also refusing. What we give up is called the opportunity cost of a choice. In the lesson the students identify resources by type and then identify the opportunity cost of different choices. The lesson concludes with a discussion of the importance of scarcity and opportunity cost in decision making. This Lesson Underwritten by a Grant From: The Allstate Foundation
Credit LessonGood and Bad uses of Credit - High School OverviewThis lesson is about good and bad uses of credit. Credit is a consumer’s friend when it is used to finance an expensive item over a shorter time period than the item’s useful life. It does not make sense to use credit to buy products that are quickly consumed; it will only increase a consumer’s future financial hardship and insecurity. Credit cards are convenient, but carrying a revolving balance is costly. Consumers should shop for credit, looking for the lowest cost and lowest APR loan. This lesson consists of a lecture and a series of situations which require the students to decide whether the use of credit is wise. This Lesson Underwritten by a Grant From: The Allstate Foundation
Investing LessonThe Risks and Rewards of Investing - High School OverviewThis lesson introduces the students to the relationship between investment risk and reward. The students compare the trade-offs among risk, reward (annual yield), and liquidity. They gain perspective on how to evaluate investments. The lesson consists of a brief reading followed by questions. This Lesson Underwritten by a Grant From: The Piper Jaffray Foundation
Economics LessonWhy There Is No Such Thing as a Free Lunch - High School OverviewThis is the most important lesson in economics. Because resources are scarce and wants are unlimited, individuals, businesses, governments, and societies must make choices which involve benefits and opportunity costs. In this lesson, the students learn about the importance of scarcity and then illustrate scarcity using a production This Lesson Underwritten by a Grant From: Toyota USA Foundation Economics LessonPrice Ceilings and Price Floors - High School OverviewThis lesson is an introduction to the study of price ceilings and price floors. It should be used after the students have learned the fundamentals of supply and demand analysis. The students learn what price ceilings and price floors are and how they cause shortages or surpluses. Finally, they apply these concepts to case studies of Arizona laws and potential laws. This Lesson Underwritten by a Grant From: Toyota USA Foundation Economics LessonThe Power of Markets - High School OverviewThis lesson works best if the students have already learned the law of demand, the law of supply, the determinants of demand, and the determinants of supply. This is a summative lesson that brings all these concepts together. The invisible hand of market prices directs buyers and sellers toward activities that improve people�s lives. The invisible hand allocates resources much more efficiently than the visible boot of government. This is because the price of just one good or service carries so much information that guides buyers and sellers to make choices that help both parties get what they want. This lesson analyzes the invisible hand at work.The students must graph supply and demand curves. Handout 1 shows how and why an equilibrium price and quantity are established. Handout 2 shows how shifts in supply and demand change equilibrium price and quantity. Most importantly, the students learn that market prices work quietly and efficiently to bring order,cooperation,and prosperity to an economy.
This Lesson Underwritten by a Grant From: Toyota USA Foundation Economics LessonThe Economic Effects of Inflation and Deflation - High School OverviewIn this lesson, the students learn about the functions of money and how those functions are affected by inflation and deflation. The positive effects of money on an economy depend on its stability. The students read about inflation and deflation and then must decide how different people are hurt or helped by inflation. Because inflation creates winners and losers, it ultimately tears society apart and undermines prosperity. In the words of economist John Maynard Keynes, �there is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.� (John Maynard Keynes, This Lesson Underwritten by a Grant From: JPMorgan Chase |
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