in this article, author Neil Shanks writes about a "people's economics" approach to teaching K-graduate economics, an approach he argues should replace the more traditional and pervasive neoclassical approach. Similar to the shift from 'great white men and wars' history to social and 'bottom up' history, Shanks believes a people's…

This article focuses on the major national economic indicators and how they changed over the course of the COVID-19 pandemic. The indicators that are discussed include Gross Domestic Product (GDP), the unemployment rate, interest rates, inflation, and other variations of these measures. The authors also present data that sheds light on the…

Can teachers promote true economic understanding among students by adding a dose of psychology? Fans of behavioral economics, with its unique blend of psychology and economics, think so. Blending a bit of behavioral economics into social studies lessons provides answers to the ever-present questions that permeate every classroom,"What does…

The Federal Reserve (the Fed) is the central bank of the United States. It has a congressional mandate to promote maximum sustainable employment and price stability. In normal times, the Fed seeks to achieve this mandate by setting the position or "stance" of monetary policy, primarily by managing the level of short-term interest rates.…

The Federal Reserve System (the Fed) is one of the most important financial institutions in the world. As the central bank of the United States, it influences the domestic money supply, credit, and interest rates with the goal of achieving stable prices and full employment for the world's largest economy. It provides a variety of services to…

The Federal Reserve System is the central bank of the United States. The system includes 12 Federal Reserve Banks (and their associated branches) located throughout the country, with oversight by the Board of Governors in Washington, D.C. The diverse structure is designed to ensure that the interests of Main Street are represented along with those…

Introducing students to continental currency may well encourage their interest in the economic context of the Constitution and their understanding of a wide range of economic concepts. This brief article describes a lesson to familiarize students with continental currency and its relationship to Article I, Section 8, of the Constitution and the…

"One who rides a tiger is afraid to dismount," says a colorful proverb from an earlier time. This may be an apt saying for the situation facing the new head of the Federal Reserve, Janet L. Yellen, who takes over at a time when successive rounds of Fed policy have taken the central bank into uncharted territory. By historical standards,…

One joy of studying history is discovering people living meaningful lives and behaving in unusual ways that are startling to the modern reader--young or old. Why did pre-modern people living hundreds or even thousands of years ago do things so differently than we do? Robert Whaples states that Economic historians conclude that the key difference…

The first step in teaching-to-understand economics is not teaching "the rules," but working with fundamental economic models from the outset. Many of the concepts in economics are illustrated through models. Students must: (1) be able to draw these models; (2) understand the assumptions of the models; and (3) use the models for analysis.…

Weather phenomena across the United States have provided heightened attention to climate change in headlines such as "Heavy Rain and Floods: The 'New Normal' with Climate Change?" ("Christian Science Monitor," Aug. 14, 2014); "Delay Action on Climate Change by 10 Years and Costs Rocket 40%"…

Guilds are defined as associations of craftsmen and merchants formed to promote the economic interests of their members as well as to provide protection and mutual aid. As both business and social organizations, guilds were prolific throughout Europe between the eleventh and sixteenth centuries. Guilds were organized so that workers would learn…

Teaching economics at the preK-12 level has always been one of the most difficult aspects of social studies education notes C. Frederick Risinger, yet, throughout his teaching career economic issues and events were the drivers of most historical, political, and sociological trends and topics and even human slavery was driven and maintained by…

Everyone under the age of 20 who has grown up in North America has lived in the common market created by NAFTA--the North American Free Trade Agreement. In a zone linking the United States, Canada, and Mexico, most goods and investments flow freely across borders to users, consumers, and investors. In 1994, NAFTA created the largest relatively…

The rise of China, as well as any of the emerging economies, has much to offer students and teachers of social studies--especially in the fields of history and economics. Traditionally, history education in the United States has emphasized Western civilization and provided instruction for educators with that end in mind. In an era of increased…