Argues that instructors may mislead students when they credit efficient performance as flowing entirely from competition. Distinguishes between competitive behavior and market structure; refines the implications of opportunity cost and profit; and derives useful conclusions about the nature and sources of productive and allocative efficiency. (DB)

This lesson plan features a classroom simulation that helps students understand the characteristics of a market economic system. The lesson plan states a purpose; cites student objectives; suggests a time duration; lists materials needed; and details a step-by-step teaching procedure. The "Paper Airplane Challenge" handout is attached. (BT)

This lesson plan helps students understand the role consumer demand plays in the market system, i.e., how interactions in the marketplace help determine pricing. Students will participate in an activity that demonstrates the concepts of demand, demand schedule, demand curve, and the law of demand. The lesson plan provides student objectives;…

Presents instructions for playing "Widgets and Blasters," an educational game designed to illustrate the functioning of a competitive market and help students understand economic models. Explains that the aims of the activity are to encourage students to identify the pattern of price over time and analyze the pattern in terms of…

This project is designed to teach students the process of buying stocks and to tracking their investments over the course of a semester. The goals of the course are to teach students about the relationships between conditions in the economy and the stock market; to predict the effect of an economic event on a specific stock or industry; to relate…

Describes a two-stage experiment where students play the role of farmers who must select one of four markets (corn, wheat, rice, or soybeans). Demonstrates the process leading to equilibrium in a multimarket setting. Includes an appendix with the farmer profit chart and homework exercises. (CMK)

Presents a case study of radio broadcasting that could be used with students in an investigation of competition and regulation. Discusses the British Broadcasting Act and its attempts at privatization, encouragement of competition, and deregulation of markets. Includes questions and the Hotelling Model of a market to explain the situation in radio…

Discusses issues related to short-run marginal cost and long-run marginal cost in economic theory. Asserts that few economics textbooks deal with important aspects of this concept. Includes four figures illustrating the approach suggested by the authors. (CFR)

Discusses the concept of "Giffen goods" as it applies to price theory in economics instruction. Provides a graphic presentation and analysis of Giffen goods and behavior. Includes examples of Giffen behavior that can be used to illustrate the concept. (CFR)

Provides two economics lessons that each deal with a type of collectible (beanbag toys and Pokemon cards) that interests students. Reinforces such concepts as markets, scarcity, equilibrium, supply and demand, monopolies, and government regulation. Provides a sample quiz and a glossary of terms with examples. (CMK)

"The Yummy Pizza Company" is an interdisciplinary thematic unit that introduces the world of work to elementary school age students. The 10 lesson outlines can be adapted up or down to be used in grades 1-5 because an attempt has been made to keep required reading and writing assignments to a minimum. Optional assignments may be added for more…

Contends that supply-side economics has generated a long-standing debate in both academic and political circles. Discusses the concepts of supply-side economics and how it is represented by the Laffer Curve. Illustrates the use of graphic analysis of tax rates and revenue to show the Laffer effect and supply-side economics. (CFR)

Featuring real-life examples that show economic principles at work, this document contains teaching units which are designed to supplement basic economics and consumer education textbooks in social studies, home economics, and business education classes. Written for grades 9-12, and adaptable for grades 7-8, the materials bring economic principles…

Asserts that errors frequently are made in teaching about the second fundamental theorem of welfare economics. Describes how this issue usually is taught in undergraduate economics courses. Discusses how this interpretation contains errors and may hinder students' analysis of public policy regarding welfare systems. (CFR)

In this 9-week unit, students compare and contrast goods and services and discuss economic activities that occur in cities, sorting them into the production of goods or the provision of a service. Students examine how people use money to purchase goods and services. Wants are defined in terms of trade-offs or choices that must be made. Job…