This article presents detailed instructional plans for a two-day, high school-level lesson on wealth distribution in society. The terms "income" and "wealth" are defined and compared, and the significance of studying wealth is discussed. Resources for the lesson are identified, and a pedagogical mode is outlined in relation to…

High-stakes standardized tests in reading and limited instructional time are two powerful disincentives for teaching economics in the elementary classroom. In this article, integrating instruction in poetry and economic decision-making is presented as one way to maximize the use of scarce instructional time. Following a brief introduction to the…

This article presents an overview of major factors contributing to the Great Recession of 2007-2009. Descriptions of teaching resources and ideas for lesson plans are provided.

The authors outline an innovative activity that helps teachers make the abstract concepts of scarcity and allocation concrete in the K-12 classroom. Students evaluate the scarcity of chocolate and often determine, incorrectly, that the candy is not scarce because there is enough for each student to have one piece. After students reveal their…

The typical method of presenting supply and demand in high school classes often leaves students with an impression that markets are simple and function effortlessly. In reality, the effectiveness of markets depends on the quality of complex institutions such as private property and property-rights enforcement. Students often do not realize that…

In this article, the author discusses the educational frozen price game she developed to teach the basic economic principle of price allocation. In addition to demonstrating the advantages of price allocation, the game also illustrates such concepts as opportunity costs, cost benefit comparisons, and the trade-off between efficiency and equity.…

Economists use a variety of devices to measure the factors that influence the economy's overall performance. Some of the indicators that economists watch are overall price-level changes, levels of output, and the rate of unemployment, measures that are very often taught as part of the conventional curriculum in high school economics. Such…

Discusses teaching about the financial market as it relates to family finances, savings, and business. Explains ways of making these relationships clear to students through diagrams, activities, games, and role playing. Suggests questions to focus on that highlight the relationship between the rate of return and the risks involved. (DK)

Study showed that experience-based economic education at the high school level, as opposed to the traditionally watered-down approach, results in the transfer of economic reasoning/thinking to everyday decision making. (RM)

Described is a project in which third graders create their own corporation--a cupcake factory--and learn first-hand about economic principles and the decisions that businesses must make in the market economy. The cupcake factory is one example of how enterprising educators can make economics comprehensible and captivating. (RM)

Discusses the use of the curriculum package "Econ and Me" in teaching primary school children about economics. Explains that the program incorporates mathematics instruction and promotes language arts skills. Describes research indicating that primary school children's economics knowledge can improve through the use of "Econ and…

Discusses the advantages of using the stock market to add new dimensions to social studies classes. Suggests that changes in society will make knowledge of financial markets essential for students. Includes two lesson plans with handouts that use the Disney company and changes in the operation of the stock market to capture student interest. (DK)

Presents study results of how children reason about international trade. Explains that open ended questions were posed to students in grades 1-11 asking why nations trade, the benefits of trade, and their understanding of barriers to trade. Concludes that teaching fundamentals of international trade can be introduced as early as grade six. (DK)

Although there is a strong case for teaching economics at the middle school level, there are practical hurdles to making that goal a reality. Academic economists, who are well trained in economic theory and its applications, are not trained, generally, in the theory and application of effective curriculum development and teaching methods for the…

Reiterating that students have become a potent market force, explains how teachers can introduce the concept of consumer law. Gives three examples of hypothetical situations in which contracts, warranties, and ethics are discussed. (GG)