This lesson plan gives students a hands-on understanding of a price index, how it is composed, what it is used for, and some of its limitations. Students then can make the connection to some of the popular price indices such as the Consumer Price Index and the Producer Price Index. The lesson states a purpose; cites learning objectives; suggests…

Explains how teachers of economics on the college level can use concepts such as the Retail Price Index to illustrate key features of economics. Practical exercises and sample questions are included. (Author/DB)

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 a method of using the Consumer Price Index to give students an understanding of the meanings of price levels in different historical periods. Demonstrates how to figure the actual price of items in the 1920s and 1930s by converting prices to present value. Argues that consumer goods were not cheaper in the past. (DK)

This lesson plan involves the calculation of a price index using a fictitious market basket for holiday celebrations. The lesson plan provides a content objective; cites an economic standard; gives background information; lists materials needed; details the lesson agenda; and suggests closure. Attached are a "12 Days of Christmas Gifts' Price…

Contends that, although most economics students are acquainted with the graphical analysis of the income and substitution effects of a price change, they often fail to appreciate that the same graphs provide information on the income elasticities of the two goods. Illustrates the proof of this concept using mathematical formulae and five graphic…

Contends that, despite ongoing criticism, Allen's arc elasticity formula remains entrenched in the microeconomics principles curriculum. Reviews the evolution and continuing scrutiny of the formula. Argues that the use of the geometric mean offers pedagogical advantages over the traditional arithmetic mean approach. (CFR)

Background information for teachers on inflation and self-contained learning activities to help students view inflation from both economic and political perspectives are provided. The introduction contains economics and political science frameworks for analyzing policy issues. How to integrate economics and political science is also discussed.…

This guide contains concept-based lessons and activities in economics for use with students in grades 7-9. One component of a two-part publication, the guide demonstrates how the conceptual structure of the economics discipline presented in the first publication (ED 148 648) can be used to help students at the junior high school level make more…