Objectives:
Inquiry Question: How can economic thinking (such as using opportunity cost and marginal cost and benefit analysis) help people make better decisions? Key Vocabulary and Concepts: scarcity allocation microeconomics macroeconomics factors of production (land, labor, capital, entrepreneurship) production possibilities opportunity cost 3 basic economic questions economic systems (command, market, traditional, and mixed) capitalism socialism communism Karl Marx Adam Smith laissez fair invisible hand Resources: O-NET - Job Interest Profiler CIA Factbook Economic Freedom Ranking Freedom in the World Extra Readings: Core Economic Principles Welcome, Students, to the Ivy Covered Halls of Debt Video Clip: Is College Worth It? Irregular Work Schedules Production Possibilities Economic Systems Capitalism Socialism and Communism Venezuela Reading Venezuela Timeline Nordic Model Reading Health Care Preview We're All Economists Lecture Notes: Unit One Notes
Activities: Factors of Production Poster Opportunity Cost Graphing Capitalism Reading and Primary Source Analysis Socialism and Communism Reading and Primary Source Analysis Economic System Comparison The Founder Movie College or No? Evaluations: Kahoot Practice Unit 1 Test |
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