Right Start in Teaching Economics

The Right Start in Teaching Economics lessons were designed for those new to teaching economics – even if not new to teaching! An excellent review or refresher if college economics courses have become a distant memory, Right Start lessons help teachers enter the classroom with renewed confidence in their own understanding of economic reasoning.

Key topics/concepts:

• Scarcity/Opportunity Cost
• Incentives and the Role of Profit
• Markets and Prices
• The Role of Government
• Trade
• The Banking System
• Competition and Market Structure
• Externalities and Property Rights
• Factor Markets and Economics Development
• Tragedy of the Commons

Lesson Outlines

• The Economic Way of Thinking
• Trade Offs and Opportunity Cost
• Demand, Supply and the Market
• Teaching Students How Markets Work — Market Changes, Price Determination and Elasticity
• Understanding the Role and Importance of the Public and Private Sectors
• Economic Goals and Measuring Economic Activity — Goals Simulation
• Economic Goals and Measuring Economic Activity — Measurement Tools
• Inflation and Unemployment
• Fiscal Policy
• Money and the Banking System — The Mechanics
• Money and the Banking System — The Federal Reserve and Monetary Policy
• Market Structures and Competition
• International Trade — Part I — Why People Trade
• International Trade — Part II — Exchange Rate Determination and Implications

Activities (Associated with EFL)

• The Magic of Markets: Trade Creates Wealth
• Foreign Currencies and Foreign Exchange