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Lesson Plan: Opportunity Costs & Tradeoffs When Decision Making
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CC BY-NC
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Students will play an online game called “SPENT” and experience what it’s like to live paycheck to paycheck. Game play will be followed with reflection questions and class discussion.

Class Time Needed: Appox 45-60 min.

Subject:
Economics
Social Science
Material Type:
Lesson Plan
Author:
Janell Bowles
Date Added:
06/05/2024
Lesson Plan:  Scarcity & Opportunity Cost
Unrestricted Use
CC BY
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Students will actively assess their career aspirations, critically evaluate and compare diverse career opportunities aligned with their aptitudes and interests, and strategically plan their career path while gaining insight into the income potential associated with their chosen careers.

Subject:
Business and Communication
Finance
Material Type:
Lesson Plan
Author:
Heather Woffinden
Date Added:
06/05/2024
Once Upon a Decision Online Course
Read the Fine Print
Educational Use
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We are faced with the need to make decisions, both big and small, on a daily basis. The earlier young people learn how to make a good decision, the better their decision-making skills will be. In this short course in our Ella's Adventures series, your students will read and listen to a story about Ella, who has decisions to make. While most of her decisions are easy, she runs across a hard one and employs a decision-making tool to help solve her problem.

Subject:
Economics
Social Science
Material Type:
Full Course
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Economic Lowdown Lessons
Date Added:
09/11/2019
Opportunity Costs: The Parable of the Broken Window
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Paradoxically, while natural disasters clearly destroy wealth, they also seem to create wealth and employment when the damages are repaired. But 19th century French economist Frédéric Bastiat argued that this idea is a fallacy and fails to take opportunity costs into account. In this video, philosophy professor Dan Russell of the University of Arizona defines opportunity costs and explains the importance of Bastiat’s realization on contemporary economics.

Subject:
Economics
Political Science
Social Science
Material Type:
Lesson
Provider:
Institute for Humane Studies
Author:
Dan Russell
Date Added:
09/14/2017
The PPF, Scarcity and Opportunity Cost
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Educational Use
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In segment 1 of this 3 part series, student will learn about the production possibilities frontier (PPF), scarcity and opportunity cost. This video is 5 minutes long and will aid in the mastery of standard EPF. 1(a).

Subject:
Economics
Social Science
Material Type:
Lecture
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Economic Lowdown Videos
Date Added:
10/21/2018
The Pickle Patch Bathtub
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Educational Use
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Students learn about opportunity cost, saving, savings goals and a savings plan by reading The Pickle Patch Bathtub. Students will develop savings plans that lead to their own savings goals.

Subject:
Economics
English Language Arts
Social Science
Material Type:
Lesson
Lesson Plan
Reading
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Economic Lowdown Lessons
Author:
Andrew Hill
Bonnie Meszaros
Mary Suiter
Date Added:
09/11/2019
Piggy Bank Primer: Saving and Budgeting
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Educational Use
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Through a story and activities, the student book introduces students to economic concepts such as saving, spending, budgeting, wants, goods, services and opportunity cost.

Subject:
Business and Communication
Economics
Finance
Social Science
Material Type:
Lesson
Lesson Plan
Reading
Student Guide
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Economic Lowdown Lessons
Date Added:
10/09/2014
Principles of Macroeconomics 2e
Unrestricted Use
CC BY
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Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

Subject:
Economics
Social Science
Material Type:
Full Course
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
06/29/2017
Principles of Macroeconomics 2e, Choice in a World of Scarcity, How Individuals Make Choices Based on Their Budget Constraint
Unrestricted Use
CC BY
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By the end of this section, you will be able to:Calculate and graph budget constraintsExplain opportunity sets and opportunity costsEvaluate the law of diminishing marginal utilityExplain how marginal analysis and utility influence choices

Subject:
Economics
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Choice in a World of Scarcity, Introduction to Choice in a World of Scarcity
Unrestricted Use
CC BY
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In this Unit, you will learn about:How Individuals Make Choices Based on Their Budget ConstraintThe Production Possibilities Frontier and Social ChoicesConfronting Objections to the Economic Approach

Subject:
Applied Science
Economics
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Exchange Rates and International Capital Flows, Exchange Rate Policies
Unrestricted Use
CC BY
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By the end of this section, you will be able to:

Differentiate among a floating exchange rate, a soft peg, a hard peg, and a merged currency
Identify the tradeoffs that come with a floating exchange rate, a soft peg, a hard peg, and a merged currency

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Globalization and Protectionism, International Trade and Its Effects on Jobs, Wages, and Working Conditions
Unrestricted Use
CC BY
Rating
0.0 stars

By the end of this section, you will be able to:

Discuss how international trade influences the job market
Analyze the opportunity cost of protectionism
Explain how international trade impacts wages, labor standards, and working conditions

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018