search copyright statement

 

Great Economics Lessons

Here are some great online economics lessons--all levels and content areas keyed to the Nebraska Social Studies/Economics Standards. If you know the concept you want to teach, start from the K-5 concepts list or the 6-12 concepts list. Materials from which to create more lessons are available from the Virtual Economics Companion. If you have problems or would like to provide feedback, email us or use our guestbook.

Level Lesson
Concepts    Lesson Description       Content Areas Nebraska Standards National Standards
Grades: 6-8 Understanding Currency Exchange Rates: Lesson 5 of Nebraska and the World Exchange Rates UNL Center for Econ Ed: The value of money is determined when people are willing to accept it in exchange for goods and services. The daily exchanges of currency between the U.S. and other nations have a major effect on international trade with Nebraska. Economics NE Standards: SS 8.2.13 US Standard: 7;
Benchmarks: 0
Grades: 1 Does the Crocodile Hunter Hunt Crocs? Resources-Natural/Human/Capital EconEdLink: We make choices to use our natural resources. This lesson lets the students make choices that protect the wildlife of Australia from poachers. economics NE Standards: SS 1.2.2 US Standard: 1;
Benchmarks: 0
Grades: 2 We are Producers and Consumers Producers/Production EconEdLink: Students are consumers and producers. So are their families. In this lesson students learn how they and family members fulfill these roles at home and in their community. economics NE Standards: SS 2.2.2 US Standard: 1;
Benchmarks: 0
Grades: 4 Hey, Pop Consumers/Consumption EconEdLink: You will get the chance to learn about popcorn's history, where popcorn is grown, unscramble a timeline of Corn and complete a math treasure hunt. economics NE Standards: SS 4.2.1 US Standard: 1;
Benchmarks: 0
Grades: 3-4 What is Competition? Markets EconEdLink: Students will understand what businesses are, that a marketplace exists whenever buyers and sellers exchange goods and services, and that there is competition in the market place if you have more than one seller of the same item or similar items. economics NE Standards: SS 3.2.1 US Standard: 7;
Benchmarks: 0
Grades: 2-3 We Can Earn Money (or) Working Hard for a Living Income EconEdLink: This lesson introduces students to work activities that grown-ups do to earn money. Students also explore tasks they might do at home to earn money. economics, financial literacy NE Standards: SS 2.2.3 US Standard: 13;
Benchmarks: 0
Grades: 2-3 Little Bill the Producer Producers/Production EconEdLink: This lesson teaches the most basic vocabulary about production. People who make goods and provide services are called producers. This lesson only deals with the student making something (not identified with being a good), and that people are human beings. economics NE Standards: SS 2.2.2 US Standard: 1;
Benchmarks: 0
Grades: 1-3 Everyday Opportunities Opportunity Cost EconEdLink: In this lesson, students will learn about choices and opportunity costs that occur every day. While this lesson will go on throughout the day, the actual lesson is short. economics NE Standards: SS 2.2.1 US Standard: 1,4;
Benchmarks: 0
Grades: 4-5 Big Banks, Piggy Banks Banks, Financial Institutions EconEdLink: When choosing a place to put their money, people consider how safe there money will be, how easy it is to access, and whether it will earn more money. Students explore how well different savings places achieve these objectives. economics NE Standards: SS 4.2.3, 5.2.3, 5.2.10 US Standard: 10;
Benchmarks: 0
Grades: K My Money money/exchange EcEdWeb: My Money teaches students at four levels (generally intended for elementary school grades with the possible exception of Part IV, which may be appropriate for middle school). Each part consists of lessons on money and exercises for evaluating the student's understanding of this information and other classroom discussions about money. Includes coin recognition. economics NE Standards: SS 0.2.6 US Standard: 1,10;
Benchmarks: 0
Grades: 1-3 If you Give a Mouse a Cookie Goods and Services A little mouse shows up at a young man's house. The young man gives the mouse a cookie and starts a chain of events. Learn about unlimited wants, and goods and services. . ©SPEC Publishing. Language Arts NE Standards: SS 1.2.1 US Standard: 1, 3;
Benchmarks: 1, 2, 3, 4, 5, 6, 7
Grades: 3 To Market To Market choice,consumers/consumption,decision-making,demand,markets,prices,producers/production,supply EconEdLink: This lesson will help students become good consumers and producers by taking turns buying and selling things in a classroom-created market. Students will establish prices for items and observe what happens during the sale of those items. Economics NE Standards: SS 0.2.1 US Standard: 7,8,10;
Benchmarks: 0
Grades: 2 Every Penny Counts Trade-Offs EconEdLink: Follow two stories of Josh and then see if you can make the smart spending decision by comparing prices. Everyone must choose. economics NE Standards: SS 2.2.1 US Standard: 1;
Benchmarks: 0
Grades: K-1 Monster Musical Chairs scarcity St. Louis Federal Reserve Bank: Students listen to the book Monster Musical Chairs and identify the scarcity problem the monsters had: not enough chairs for every monster to have one. Students wear a picture of a want they have drawn and play a version of musical chairs where the chairs are labeled goods. Students learn that a good can satisfy a want. They also learn that because of scarcity not everyone’s wants are satisfied. economics NE Standards: SS 0.2.1 US Standard: 1;
Benchmarks: 0
Grades: K-3 When They Want Blueberries choice,wants EconFun: Students will hear Blueberries for Sal, by Robert McClosky, a story about two mothers and their offspring who wanted blueberries for the coming winter for themselves and their families. Then students will explore their own wants. Lesson 6 from Spotting the Economics: From Africa to Ice Cream. Economics NE Standards: SS 0.2.1 US Standard: 1;
Benchmarks: 0
Grades: 5 Believe It or Not? Economic Institutions EconEdLink: Advertisements can tell consumers about prices and other information that may help them in the decisions they make about what to buy. But students also should know that ads are slanted by sellers to show a product in the best light. This lesson reveals to students how advertisers use words and images to make goods and services look their best. economics NE Standards: SS 5.2.3 US Standard: 10;
Benchmarks: 0
Grades: 5 Colonial Marketplace Lesson 10 Markets From EconFun: Students will participate as children of colonial farmers in a simulation of a market. They will first barter, exchanging the goods they “produced” for other goods. Then, in a second round, they will trade again, using money as the medium of exchange. economics NE Standards: SS 5.2.1 US Standard: 7;
Benchmarks: 0
Grades: 4 Cowboy Bob Builds a Community Public Goods, Taxes EconEdLink: A cowboy rides into a ghost town and decides that it needs to be rebuilt. Students will select the necessary things that a town needs in order for it to function and grow. economics, personal finance NE Standards: SS 4.2.10 US Standard: 16;
Benchmarks: 0
Grades: K-2 Why We Save Saving, Spending Lesson 8, Personal Finance Economics K-12: Pocketwise. (PDF Format) Copyright ©1996, Council for Economic Education, New York, NY 10036. Used with permission. Personal finance NE Standards: SS 0.2.1, 1.2.6 US Standard: 1, 2, 5, 11;
Benchmarks:
Grades: 2 Mystery Workers goods and services, producers/production EconEdLink: In this lesson students review the concepts of goods, services, and producers using the Internet to locate examples of each in a teacher's classroom. They learn about the three kinds of resources necessary to produce goods and provide services locating examples from a picture tour of the Crayola Factory. Through interviews they learn about the work of the people in their families and draw conclusions from their findings. Finally, they examine a picture of a farmer working in a field to identify examples of natural, human, and capital resources. Economics,history NE Standards: SS 1.2.1 US Standard: 1;
Benchmarks: 0
Grades: 2-5 Goods and Services: Some are Private, Some are Not Public Goods, government goods, government services, taxes, private property, Role of Government EconEdLink: The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life. Economics NE Standards: SS 1.2.1, 2.2.10, 3.2.10, 5.2.10 US Standard: 10, 16;
Benchmarks: 0
Grades: 2-3 Saturday Sancocho money/exchange,barter,wants St. Louis FR Bank: In this lesson, students listen to a story and answer questions about a family in Central or South America that barters to get the ingredients for chicken sancocho, a kind of stew. The students complete sentences that record the various trades carried out by the family to obtain all of the ingredients for the sancocho. They participate in a trading activity where they barter with each other to get the ingredients needed to make chicken sancocho and learn about the difficulties associated with barter. They use money in a second round of the trading activity to learn about money's advantages over barter. Economics NE Standards: SS US Standard: 11;
Benchmarks: 0
Grades: 4 Banking is Interest-ing Saving EconEdLink: Banks are important to Americans. We use banks to save money and earn interest, or borrow money and pay interest. This lesson introduces the concepts of banking to children. personal finance NE Standards: SS 4.2.6 US Standard: 2, 12;
Benchmarks: 0
Grades: K-3 The ABCs of Saving savings EconEdLink: We save money to get things we can't afford to buy now. Saving for the future requires patience but it can be worth it when we get what we want the most. Successful savings depends on three elements which are presented to students as the ABCs of saving. Economics, personal finance NE Standards: SS US Standard: 1,10;
Benchmarks: 0
Grades: 2 The Story of Jack and the Bank Stalk money,banking,exchange,interest rate,currency,functions of money EconEdLink: Fairy tales have always been used to give lessons about life. The story of Jack and the Bean Stalk is a good lesson about the importance of knowing about money and banks. The story of Jack asks the question, 'What is money?' Economics NE Standards: SS US Standard: 10,11;
Benchmarks: 0
Grades: 3-5 The Colonial Workers Web: Lesson 11 consumers/consumption, goods and services, interdependence, producers/production, specialization EconFun: Students will participate in an activity to explore how workers, both today and in colonial times, worked within their societies to produce specialized goods and services and became interdependent. Lesson 11 from Adventures in Economics and U.S. History, Volume 1. Economics,history NE Standards: SS 1.2.1, 4.2.12 US Standard: 6;
Benchmarks: 0
Grades: K-5 Financial Fables Money Management, Saving, Budgeting, Credit Financial Fables is an e-book with colorful bird characters who face and solve financial problems. Younger children can use the "Read to me" function that highlights text while pages are read to them. Older children can choose the "Read by myself" function to read at their own pace. Financial Fables have related teacher lesson plans and are aligned to national economic and personal finance standards, as well as state reading standards. Interactive features, including activities and games, accompany each fable to extend learning. Additional family activities are suggested to enrich the fable. Economics, Personal Finance NE Standards: SS 0 US Standard: 11;
Benchmarks: 0
Grades: K-2 Every Penny Counts Spending, Budget, Choice, Decision Making, EconEdLink: Children and adults, confronted by a multitude of tempting consumer products, must learn to evaluate the options available to them. But how does one spend money wisely? Economics, Personal Finance NE Standards: SS 0 US Standard: 1, 2;
Benchmarks: 0
Grades: 3 No Funny Money Honey, I want the Real Thing Money EconEdLink: Do you know what funny money is? It's NOT the real thing! Find out how our government tries to make our money hard to copy in this lesson about real and fake money. economics NE Standards: SS 3.2.6 US Standard: 11;
Benchmarks: 0
Grades: 3 The Goat in the Rug* Producers/Production,Resources-Natural/Human/Capital Geraldine, a goat, tells the story of a Navajo weaver who produces a rug using the goat's mohair. Learn about economics: producers, resources (natural, human, capital), intermediate goods; and Language Arts: Categorizing, sequencing, noting details, writing personal narrative. ©SPEC Publishing. Language Arts NE Standards: SS 3.2.2, 4.2.2, 2.2.2 US Standard: 1, 3;
Benchmarks: 9, 10, 11, 12, 14, 15, 73
Grades: 3-5, 6-8 Widget production: Producing More, Using Less Income EconEdLink: In the first part of the lesson students take a quiz to review the major concepts taught in Lesson 7, "Widget Production," from Master Curriculum Guide in Economics: Teaching Strategies 5-6. Students then search the web for examples of the many ways in which productivity has been increased over the years. Finally, they identify a situation where an increase in productivity could alleviate a problem and create a way to solve this problem. Economics, Personal Finance NE Standards: SS 0 US Standard: 6;
Benchmarks: 0
Grades: 4-5 Banks, Bankers, Banking Banks, Financial Institutions, Economic Institutions EconEdLink: Students will demonstrate understanding of the processes associated with banking by role- playing as customers, tellers, and guards. economics NE Standards: SS 4.2.3, 5.2.3, 5.2.10 US Standard: 10;
Benchmarks: 0
Grades: 3-5 Money Doesn't Grow on Trees Income This lesson introduces students to four ways people get money—they find it, win it, receive it as a gift or earn it. Finding, winning and receiving money often depend on chance and luck. Most people get money by earning it. EconEdLink: Students explore allowances and doing work for pay as sources of extra money to buy something they want. They also differentiate between earned and unearned income. This lesson can be used alone or in combination with the lesson 'I Can Be an Entrepreneur.' Economics, Personal Finance NE Standards: SS 0 US Standard: ;
Benchmarks: 11,13
Grades: 3-4 Those Golden Jeans demand, natural resources,shortages and surpluses,supply,surpluses shortages EconEdLink: This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students use the internet to identify examples of each - first in the production of pizza, then the mining of gold during the California gold rush. Economics NE Standards: SS US Standard: ;
Benchmarks: 0
Grades: 4 The Color of Resources Resources-Natural/Human/Capital, Human Capital EconEdLink: This lesson will demonstrate the making of Crayola products to introduce natural, capital, and human resources as well as touching on some other aspects in the Crayola industry such as producers and consumers. economics NE Standards: SS 4.2.2 US Standard: 1;
Benchmarks: 0
Grades: 3-5 I Have No Money; Will you Take Wampam? barter/trade,money/exchange,goods and services EconEdLink: Through the use of folk tales, history, and the students' own experiences, students will recognize the inter-relatedness of goods, services, money. They will locate information about barter as a means of trade, use folk tales as an historical instrument. Economics NE Standards: SS 1.2.1 US Standard: 6,11;
Benchmarks: 0
Grades: 5 On the Court with Michael Jordan Human Capital St. Louis Federal Reserve: Students participate in a simulation to learn about choices, alternatives, opportunity cost and human capital. They learn the PACED decision-making model. economics NE Standards: SS 5.2.3 US Standard: 13;
Benchmarks: 0
Grades: 3-5 Why Do I Want All This Stuff? Demand, Consumers/Consumption Lesson 4, Personal Finance Economics 3-5: Smart Saving and Spending. Copyright ©1996, Council for Economic Education, New York, NY 10036. Used with permission. Personal Finance NE Standards: SS 4.2.1 US Standard: 2, 7, 8;
Benchmarks:
Grades: 3-5 Those Golden Jeans Equilibrium Price, Demand, Supply EconEdLink: This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students use the internet to identify examples of each - first in the production of pizza, then the mining of gold during the California gold rush. Economics, Personal Finance NE Standards: SS 0 US Standard: 7, 8;
Benchmarks: 0
Grades: 3-5 Jobs: Who Needs 'Em? trade-offs, unemployment, trade-off EconEdLink: In this lesson students will look at the importance having some kind of job, at the consequences of having a job, having a non-paying job (like a stay-at-home mom), and having no job (whether it's intentional or not). economics, NE Standards: SS US Standard: 19;
Benchmarks: 0
Grades: 2-4 Earth Day - Hooray! incentives St. Louis Federal Reserve Bank: In this lesson, students listen to the book Earth Day—Hooray! They learn how incentives change people’s behavior. economics, language arts NE Standards: SS US Standard: 4;
Benchmarks: 0
Grades: 3-5 Car Shopping economic systems, incentives, prices EconEdLink: Contrary to US methods of distribution (namely prices), the Soviet Union used different methods of distribution of its goods during the reign of Communism. This lesson will explore the benefits and consequences of each of those methods of distribution. Economics NE Standards: SS US Standard: 3,4;
Benchmarks: 0
Grades: 4-5 Lean on Me - We Depend on Each Other Division of Labor, interdependence, specialization, productive resources EconEdLink: The purpose of this activity is to demonstrate that the production of most goods can be broken down into a number of specific tasks (division of labor), with each of these tasks assigned to specific workers (specialization.) Economics NE Standards: SS 4.2.12 US Standard: 6;
Benchmarks: 0
Grades: 3-6, 6-8 The Mystery of the Amazing Farmers Human Capital, Invest/Investment, Productivity, Technological Change EconEdLink: In this lesson you will be taking on the role of an an investigative reporter to solve the Amazing Farmer Mystery. The goal will be to use seven clues provided throughout the lesson in order to figure out how so few farmers can produce enough food and fiber for the nation. economics NE Standards: SS US Standard: 1;
Benchmarks: 0
Grades: 6-8 No Fireworks on the 4th of July goods, public goods EconEdLink: This lesson explores the differences between public and private goods. Economics NE Standards: SS US Standard: 16;
Benchmarks: 0
Grades: 3-5, 6-8 Competition Works in Our Flavor competition,monopoly,role of government EconEdLink: Students will discover the role of the Federal Trade Commission, explain how competition encourages producers to produce more of what consumers are willing and able to buy. Economics NE Standards: SS US Standard: 9,16;
Benchmarks: 0
Grades: 3-5, 6-8 Economic Spotter: Supply and Demand at the Gold Rush demand,quantity demanded,quantity supplied,shortage,supply,prices EconEdLink: During the Gold Rush, people paid exorbitant prices for ordinary objects. Why? Because of the laws of supply and demand, that's why! In the lesson, students will see how these laws fit into this great historical time. Economics NE Standards: SS US Standard: 7,8;
Benchmarks: 0
Grades: 3-5, 6-8 The Best Deal choice, consumer/consumption,decision-making, incentive, price EconEdLink: Students will learn how to determine 'price per unit to help make decisions when comparing products. Economics,mathematics NE Standards: SS 0.2.1 US Standard: 8;
Benchmarks: 0
Grades: 4-8 Inventors: Dreaming Up New Ideas consumers/consumption,entrepreneurs,inventors,producers,productivity,profit EconFun: Students will read and discuss the historical book, A Head Full of Notions, about Robert Fulton. They will differentiate between inventors and entrepreneurs, describe the incentives that motivate them, and explore the important contributions they make to society’s standard of living. This is Lesson 7 of Adventures in Economics and U.S. History, Volume 2 Economics, history NE Standards: SS US Standard: 4, 14, 15;
Benchmarks: 0
Grades: 3-5 Where Did You Come From? exports,imports,interdependence,specialization EconEdLink: In this multiple intelligences lesson the students figure out why the United States imports some goods that we can grow right here! Economics NE Standards: SS 4.2.12 US Standard: 6;
Benchmarks: 0
Grades: 4-6 Popcorn Economics Scarcity Lesson using popcorn to teach, and to help students experience, scarcity. Lesson by Mary Suiter, adapted from a lesson found in Kaleidascope, USA. Published by the Center for Entrepreneurship and Economic Education, UM-St. Louis. Economics NE Standards: SS 0.2.1 US Standard: 1;
Benchmarks:
Grades: 4-6 The Real McCoy* Productivity, Entrepreneurs Elijah McCoy was an African-American inventor who successfully designed an automatic oil cup that may have inspired the popular phrase, "the real McCoy." Learn about increasing productivity and patents. ©SPEC Publishing. Language Arts NE Standards: SS 8.2.1 US Standard: 12, 13, 14, 15;
Benchmarks: 1, 2
Grades: 4-6 Homer Price (the Doughnuts)* Resources-Natural/Human/Capital, Factors of Production, Productivity The doughnut machine goes on a rampage making hundreds of doughnuts. Learn about capital resources, increasing productivity, law of demand, quantity demanded, and Language Arts: using reference materials, oral expression, organizing and sequencing information. ©SPEC Publishing. Language Arts NE Standards: SS 8.2.1 US Standard: 1, 7;
Benchmarks: 1, 2, 3, 4
Grades: 2-5 Folding Our Way to Productivity productivity, income, productive resources EconEdLink: Students role-play workers producing origami cups. They participate in two production rounds, one without training and one with training. Students observe how productivity increases through training and, as a result, how income increases. Economics NE Standards: SS US Standard: 13, 15;
Benchmarks: 0
Grades: 6-8 Running an Export Business: Lesson 6 from Nebraska and the World Markets Imports and exports are important for a strong state economy in that both provide jobs for citizens. In this simulation, groups of students will form a corporation, develop a product, and market it abroad. Using information provided by community resources, students will follow the procedure for doing international business and completing a successful exporting transaction. Economics NE Standards: SS 8.2.1 US Standard: 7;
Benchmarks: 0
Grades: 6-8 Nebraska Does Business with the World: Lesson 3 in Nebraska and the World Specialization UNL Center for Econ Ed: This activity looks at the extensive connections between Nebraska and the international economy using recent census results. Economics NE Standards: SS 8.2.12 US Standard: 6;
Benchmarks: 0
Grades: 6-8 Give and Take** Opportunity Cost, trade-off, trade-offs, Choice After reading about a problem, students identify alternative solutions, trade-offs made in choosing each alternative, and the opportunity cost of selecting each option.. Students describe trade-offs and create a graphic. Unit 1, Lesson 2 from Focus: Middle School Economics, ©Council for Economic Education. Mathematics NE Standards: SS US Standard: 1, 2, 4;
Benchmarks: 1
Grades: 6-8 What Causes Inflation? Inflation What happened to that dollar? Why won't it buy as much as it did last month or last year? What happened is inflation. In this lesson you will examine the various causes and theories of inflation as well as how it affects different groups in the economy such as savers, lender, and people living on fixed incomes. Economics NE Standards: SS 8.2.3 US Standard: 11, 19;
Benchmarks: 0
Grades: 6-8 The Colonial Workers Web: Lesson 11 Consumers/Consumption, Goods and Services, Enterdependence, Producers/Production, Specialization EconFun: Students will participate in an activity to explore how workers, both today and in colonial times, worked within their societies to produce specialized goods and services and became interdependent. Lesson 11 from Adventures in Economics and U.S. History, Volume 1. Economics,history NE Standards: SS 8.2.1 US Standard: 6;
Benchmarks: 0
Grades: 6-8 Nebraska's Role in U.S. Exports: Lesson 2 in Nebraska and the World International Trade, Specialization UNL Center for Econ Ed: Nebraska, like other states, is always looking for ways to increase its wealth. One way to expand Nebraska markets is to increase the number of products exported by Nebraska businesses. This activity will look at what role Nebraska plays in international trade. Students will also find out what types of businesses are engaged in exporting, what kinds of products are shipped overseas, and to what countries. Economics NE Standards: SS 8.2.12 US Standard: 5;
Benchmarks: 0
Grades: 6-12 Where Does the Money Come From? Taxes EconEdLink: With very few exceptions, the U.S. federal government does not have an "income" to spend providing goods and services. The money used for federal spending programs must be collected as federal taxes, or it must be borrowed. This lesson provides information about the costs of government programs. Economics NE Standards: SS 8.2.11, 12.2.10 US Standard: 16;
Benchmarks: 0
Grades: 6-8 Recession Hits the Poorest of the Poor 06/01/09 Income Distribution FTE: The decline in poverty around the world is the result of unprecedented economic growth. But, the current economic crisis reminds us that just as economic growth helps raise standards of living of the poor, a world-wide recession in which rates of growth fall, sends many back into poverty. Economics NE Standards: SS 8.2.10 US Standard: 3;
Benchmarks: 0
Grades: 6-8 Popcorn Economics Scarcity Lesson using popcorn to teach, and to help students experience, scarcity. Lesson by Mary Suiter, adapted from a lesson found in Kaleidascope, USA. Published by the Center for Entrepreneurship and Economic Education, UM-St. Louis. Economics NE Standards: SS 0.2.1 US Standard: 1;
Benchmarks:
Grades: 4-5,6-8 Nebraska Entrepreneur Hometown Heros, Lesson 10, (PDF) Entrepreneurs Selected lesson from a curriculum guide focusing on Nebraska entreprenuers. (PDF format) Creating your Own Career: Economics Lessons for Secondary Teachers, Authors: Derry Trampe, Chuck Parker, Tammie Fischer, and Mary Lynn Reiser. ©Nebraska Council on Economic Education Economics, history NE Standards: SS US Standard: 14;
Benchmarks:
Grades: 6-8 Lesson 5: Competition and Market Structure Profit Students will play a game that is like a competitive market. While playing the game, it is intended that students will “discover” that the price of the product is determined by the interaction of suppliers of the product and demanders of the product. If the existing price in a competitive market is lower than the unit costs of production, then that would not be a good market to enter because only losses will result. economics NE Standards: SS 8.2.1 US Standard: 14;
Benchmarks: 0
Grades: 6-8, 9-12 Civil War Andersonville prison Scarcity, Economic Systems Development of an economic system for a Civil War prison camp; Allocation of scarce resources. Learn about scarcity, economic wants, command economic systems, market economic systems, and markets and price. ©Nebraska Council on Economic Education Economics, History NE Standards: SS 8.2.3, 12.2.1 US Standard: 10;
Benchmarks:
Grades: 6-8 M and M Interesting. Opportunity Cost Lesson 4, Personal Finance, Economics 608: Money in the Middle. Copyright ©1996, Council for Economic Education, New York, NY 10036. Used with permission. Personal Finance NE Standards: SS US Standard: 2, 6, 15;
Benchmarks:
Grades: 6-8 Lean on Me - We Depend on Each Other Division of Labor, interdependence, specialization, productive resources EconEdLink: The purpose of this activity is to demonstrate that the production of most goods can be broken down into a number of specific tasks (division of labor), with each of these tasks assigned to specific workers (specialization.) Economics NE Standards: SS US Standard: 6;
Benchmarks: 0
Grades: 6-8 Prices Are Changing Equilibrium Price This lesson will help students to understand how markets are created by the interaction of buyers and sellers, what demand and supply are, what equilibrium price is, and how demand and supply interact with price changes. economics NE Standards: SS 8.2.2 US Standard: 7;
Benchmarks: 0
Grades: 6-8 Ten Mile Day Productivity Federal Reserve St. Louis: In this multidisciplinary lesson, students work in small groups ("work crews") while participating in a production activity. Students learn about competition, division of labor, and incentives. They also demonstrate how division of labor and incentives help lead to greater productivity. economics NE Standards: SS 8.2.1 US Standard: 13, 15;
Benchmarks: 0
Grades: 6-8 In Your Own Backyard Markets Students will identify entrepreneurial opportunities that exist in their own community. Students will access web sites for information about pulation trends and demographic information about their community. From this information students will determine possible market niches and identify potential businesses that could be started to meet the demands of these niches. economics NE Standards: SS 8.2.1 US Standard: 7;
Benchmarks: 0
Grades: 6-8 Lesson 9: Production and Costs Producers/Production This hands-on lesson will help students understand what an entrepreneur must grapple with in terms of controlling costs of production as well as developing an understanding of the concept of diminishing returns. economics NE Standards: SS 8.2.1 US Standard: 13;
Benchmarks: 0
Grades: 6-8, 9-12 Nebraska Entrepreneur Success Stories, Lesson 1, (PDF) Entrepreneurs Selected lesson from a curriculum guide focusing on Nebraska entreprenuers. (PDF format) Creating your Own Career: Economics Lessons for Secondary Teachers, Authors: Derry Trampe, Chuck Parker, Tammie Fischer, and Mary Lynn Reiser. ©Nebraska Council on Economic Education Economics, history NE Standards: SS 12.2.1 US Standard: 14;
Benchmarks:
Grades: 6-8 Supply and Demand, Lessons from Toy Fads Demand, Supply, Prices, Equilibrium Price The concepts of supply and demand and related terms are taught through stories about the toy fads of Hula Hoops and Silly Bandz. In 1958, Wham-O, Inc. economics NE Standards: SS 8.2.2 US Standard: 8,7;
Benchmarks: 0
Grades: 6-8 The Entrepreneur Next Door Entrepreneurs Chapter 4 of Entrepreneurship Arkansas Style. This lesson is designed for students to understand that an entrepreneur can be a really famous and successful person or simply a neighbor who has started a business in order to make a living from a passion. Economics NE Standards: SS 8.2.5 US Standard: 3;
Benchmarks: 0
Grades: 6-8, 9-12 Comparative Economic Systems Economic Systems Students research the economic systems of a communist country and a third-world country and compare them to the US, guided by questions and using information from the CIA World Factbook website. Economics NE Standards: SS 8.2.5 US Standard: 3;
Benchmarks: 0
Grades: 6-8 The Ice Cream Stand Demand, Supply, Prices Students will learn about supply, demand, price, competition, and entrepreneurial skills in this lesson. They will put what they learned into action by creating an ice cream stand, to complete with other stands in the classroom. economics NE Standards: SS 8.2.2 US Standard: 8;
Benchmarks: 0
Grades: 6-12 They Say We Had a Revolution Economic Growth, Technological Change, Incentives, Inventors, Innovations EconEdLink: In this series of three lessons,the students examine transportation and its impact on our nation (and vice versa) since the United States declared its independence in 1776. There are three lessons here. Economics, Personal Finance NE Standards: SS 0 US Standard: 15, 6, 4;
Benchmarks: 0
Grades: 6-8 The Mystery of: Is it Mine or Is It Yours? Public Goods, Private Property How did the road, the park or the street lights get there? Who paid for them? As a matter of fact, just who owns them? Economics NE Standards: SS 8.2.4, 8.2.10 US Standard: 16;
Benchmarks: 0
Grades: 6-8 Goods and Services: Some are Private, Some are Not Public Goods, Government Goods, Government Services, Taxes, Private Property EconEdLink: The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life. Economics NE Standards: SS 8.2.4, 8.2.10 US Standard: 10, 16;
Benchmarks: 0
Grades: 6-8, 9-12 Henry Ford and the Model T: A Case Study in Productivity Division of Labor, Productivity, Specialization, Factors of Production, Resources EconEdLink: This three-part learning unit provides students with the story of Henry Ford and the Model T from an economics perspective. Parts 1 and 2 explore how the Ford Motor Company successfully introduced mass production strategies to the auto industry. Students learn how specialization and investments in capital (machines, people, etc.) increased productivity and allowed Ford to slash the price of his popular vehicle. Students also explore how Henry Ford used economic incentives to address a problem created by mass production techniques—worker turnover. An optional Part 3 explains how increased productivity resulted in shifts in the supply and demand for the Model T. Students analyze how a variety of non-price determinants continue to influence the automobile market today. Economics, Business NE Standards: SS 0 US Standard: 13, 6;
Benchmarks: 0
Grades: 9-12 M&M Interesting (Lesson 4) Interest CEE: During this lesson students use the economic concepts of trade-offs and opportunity cost to decide between savings accounts with simple interest and those with compound interest. Economics NE Standards: SS 12.2.8 US Standard: 12;
Benchmarks: 0
Grades: 9-12 Real GDP Growth, Q1 2013 (First Estimate), Focus on Economic Data, USA Economic Indicators This lesson focuses on the April 26, 2013, first (advance) estimate of U.S. real gross domestic product (real GDP) growth for the first quarter (Q1) of 2013, as reported by the U.S. Bureau of Economic Analysis (BEA). The current data and historical data are explained. The meaning of GDP and potential impacts of changes of GDP are explored. Economics NE Standards: SS 12.2.3, 12.2.5 US Standard: 18;
Benchmarks: 0
Grades: 9-12 Protecting: Unit 10, Making Personal Finance Decisions Risk Management MN-CEE: Risks such as car accidents, medical issues, house fires, lawsuits, and theft (including identity theft) all represent potential obstacles that can be managed by reducing one's potential exposure or by buying insurance. These lessons look at these options through games that involve the random occurrence of events and how students choose to manage the risks presented. Economics, Personal Finance NE Standards: SS 12.2.9 US Standard: ;
Benchmarks: 0
Grades: 9-12 In Plain English: Making Sense of the Federal Reserve Federal Reserve An overview of the Federal Reserve to help make sense of the complex, yet effective, System. Learn the three main responsibilities -- conducting monetary policy, supervising banks, and providing financial services. This is a download for Apple iOS. Economics NE Standards: SS 12.2.3 US Standard: 20;
Benchmarks: 0
Grades: 9-12 Economic Institutions Video Economic Institutions This video teaches the concept of Economic Institutions. Economic institutions refer to the established laws, customs, organizations or systems that have a strong impact on economic decisions. Economics NE Standards: SS 12.2.3, 12.2.4 US Standard: 10;
Benchmarks: 0
Grades: 9-12 Focus on Economic Data, April, 2013 Unemployment EconEdLink: This lesson examines the U.S. Department of Labor, Bureau of Labor Statistics, announcement of employment data and the unemployment rate for the month of April, 2013, reported May 3, 2013. This lesson introduces the basic concepts of the BLS employment and unemployment data. Economics NE Standards: SS 12.2.11 US Standard: 18;
Benchmarks: 0
Grades: 9-12 What Is Unemployment, How Is It Measured, and Why Does the Fed Care? Unemployment St. Louis Fed: In this lesson, students read and interpret choropleth maps, which contain unemployment data. They compare verbal descriptions of the labor market from the Federal Reserve’s Beige Book with the mapped data. In addition, students compare unemployment data for different years. Students access or observe how to access this data online. Economics NE Standards: SS 12.2.11 US Standard: 18;
Benchmarks: 0
Grades: 9-12 Where Does the Money Come From Fiscal Policy, Taxes EconEdLink: Students serve as an Economic Advisor to the President, who must increase military spending out of political necessity, but needs to reduce spending in other programs to limit the deficit. Conflicting goals create a need for compromise and tradeoffs to create a national budget, while trying to remain under deficit limits. Economics NE Standards: SS 12.2.10 US Standard: 20;
Benchmarks: 0
Grades: 9-12 Will I Make a Profit? Profit Bessie Moore Center, Arkansas: Students  analyze  the  financial  information  from  two  business  plans  to  learn  how revenues  can  be  increased  or  costs  decreased in order to make the businesses profitable.  This is a process that is necessary to the business plan. Economics NE Standards: SS 12.2.1 US Standard: 14;
Benchmarks: 0
Grades: 9-12 Budgeting: Unit 5, Making Personal Finance Decisions Budgeting MN-CEE: These lessons look at how to allocate or budget one’s income with respect to these various options without exceeding the income one earns. Economics, Personal Finance NE Standards: SS 12.2.7 US Standard: 2;
Benchmarks: 0
Grades: 9-12 Nebraska Entrepreneurs, Lesson 3: What's In It for Me? Decision-making, Incentives In this lesson students will examine both the benefits and costs that are associated with owning and operating a business. By completing a decision-making grid, students will realize that being your own boss involves trade-offs. In addition to this students will examine the incentives for starting a business as well as the opportunity costs involved. Economics NE Standards: SS 12.2.6 US Standard: 1;
Benchmarks: 0
Grades: 9-12 Savings and Investing Blitz Savings, Interest EconEdLink: In this game, students will be asked a series of multiple choice questions. The longer it takes to answer, the less the question is worth. If they take too long, it won't be worth anything! Economics NE Standards: SS 12.2.9 US Standard: 12;
Benchmarks: 0
Grades: 9-12 Lesson 9: Production and Costs Productivity Selected lesson from a curriculum guide focusing on Nebraska entreprenuers. (PDF format) This hands-on lesson help students understand how entrepreneurs control costs, and includes the "diminishing returns" concept., Authors: Derry Trampe, Chuck Parker, Tammie Fischer, and Mary Lynn Reiser. ©Nebraska Council on Economic Education Economics NE Standards: SS 12.2.1 US Standard: 13, 15;
Benchmarks: 0
Grades: 9-12 In the Chips — A Market in Computer Chips Competition FTE: Understanding how markets work and the role of prices within markets is an important key to being able to explain and predict economic behavior. In true markets, prices are determined by the interaction of buyers and sellers. In-class simulation and video explanation. Economics NE Standards: SS 12.2.2 US Standard: 7;
Benchmarks: 0
Grades: 9-12 Institutions Matter: Experiments in Real Life Economic Institutions FTE: A real-life social science experiment in how institutions shape people's lives has been taking place for the past half-century in North and South Korea. This unique history is the foundation for a social science experiment about how institutions impact people's lives. Economics, Personal Finance NE Standards: SS 12.2.3, 12.2.4 US Standard: 10;
Benchmarks: 0
Grades: 9-12 How Can Entrepreneurs Control Costs?** Factors of Production Students will learn that at certain times all entrepreneurs have some fixed costs that must be paid no matter how many products are offered for sale. Variable costs change with the number of products offered for sale. Economics NE Standards: SS 12.2.1 US Standard: 1;
Benchmarks: 0
Grades: 9-12 iPhone Launch Markets Investigates the notion that when consumers buy stock in businesses or purchase the products that those businesses produce, they are casting a vote for that business or product, and against the business or products of competitors. Economics NE Standards: SS 12.2.1 US Standard: 7;
Benchmarks: 0
Grades: 9-12 The Circular Flow Model Circular Flow This is an excellent diagram of the circular flow model that can be used in class to teach the concepts. Economics NE Standards: SS 12.2.1 US Standard: 9;
Benchmarks: 0
Grades: 9-12 Cards, Cars, and Currency: Lesson 2-Credit Cards / Lesson 4-Interest / Lesson 5-Savings Savings, Credit, Interest St Louis Fed: Students participate in a discussion of the general features of a $1 bill. They learn that although currency is valued, people often “throw currency away” as a result of poor financial decisions and the lack of financial knowledge. Following the discussion, the students play a game in which they attempt to “keep the currency,” working in pairs to answer 20 true-or-false questions about credit cards, debit cards and purchasing a car. From this game, which serves as a pretest for subsequent lessons, the students learn that financial literacy is important in keeping currency. Economics NE Standards: SS 12.2.7, 12.2.8, 12.2.9 US Standard: 12;
Benchmarks: 0
Grades: 6-12 Episode 7 – Gross Domestic Product – The Economic Lowdown Video Series economic growth, Gross Domestic Product, GDP A Federal Reserve economic education specialist explains what GDP measures, how it is calculated, how it is useful in determining whether and how quickly the economy is growing, and how GDP can be used as indicator of standard of living. Economics NE Standards: SS 0 US Standard: 15,18;
Benchmarks: 0
Grades: 6-8 Lemon Squeeze - The Lemonade Stand demand,equilibrium price,markets,prices EconEdLink: Students can taste test three brands of lemonade and compare prices with taste - is the most expensive the best? Using a reader's theater students will construct a supply and demand schedule and can create a bar or line graph to demonstrate market interaction between buyers and sellers Economics NE Standards: SS US Standard: 7,8;
Benchmarks: 0
Grades: 6-12 Nebraska and the World (PDF) Role of Government, International Trade, Opportunity Cost, Benefits of Trade, Specialization A resource guide and ten lessons for teachers focusing on the role of international trade in state development in Nebraska. by Tammie Fischer and Mary Lynn Reiser.
©UNL Center for Economic Education.
Economics, Geography, Government NE Standards: SS 12.2.10, 12.2.12 US Standard: 5,6,16;
Benchmarks:
Grades: 6-8, 9-12 Places and Production** Economic Indicators Students calculate the US GDP and various examples from South America. Using this information, they make inferences about per-capita income. Lesson 7 from Focus on Economics: Geography, ©Council for Economic Education. Economics, Geography NE Standards: SS 8.2.3 US Standard: 10, 18, 19;
Benchmarks: 1, 2
Grades: 9-12 What Does the Fed Do? Monetary Policy Students will learn more about the purposes and functions of the Federal Reserve System, including describing a fractional reserve banking system, explaining what bank panics and bank runs are and why they are less likely today than at the beginning of the 20th century, and listing the three major functions of the Federal Reserve System. Economics NE Standards: SS 12.2.3 US Standard: 20;
Benchmarks: 0
Grades: 9-12 What Does the Fed Do? Federal Reserve Students will learn more about the purposes and functions of the Federal Reserve System, including describing a fractional reserve banking system, explaining what bank panics and bank runs are and why they are less likely today than at the beginning of the 20th century, and listing the three major functions of the Federal Reserve System. Economics NE Standards: SS 12.2.3 US Standard: 20;
Benchmarks: 0
Grades: 6-12 What is a stock, or who owns McDonald's?** Profit, Choice Students will explore the fundamentals of stock ownership. They discuss how stock owners share the risks and rewards of purchasing stocks. Lesson 3 from Learning for the Market: Integrating the Stock Market Game Across the Curriculum, ©Council for Economic Education. Business, Social studies, Language Arts NE Standards: SS US Standard: 2, 4, 14;
Benchmarks: 1
Grades: 6-8, 9-12 Limiting trade** Opportunity Cost, Benefits of Trade, Specialization,International Trade, Comparative Advantage CEE: Students learn about various types of trade restrictions and their effects by applying a model to determine who will benefit and who will be hurt by a tariff. Lesson 6 from Focus on Economics: Geography, ©Council for Economic Education. Economics, Geography NE Standards: SS 12.2.12 US Standard: 1, 5, 6, 17;
Benchmarks: 1
Grades: 6-8, 9-12 Why Nations Trade** Opportunity Cost, Benefits of Trade, Specialization,International Trade,Comparative Advantage CEE: After discussing the concept of comparative advantage, students in small groups engage in a simulation on the economic costs and benefits of trade. Lesson 3 from Focus on Economics: Geography, ©Council for Economic Education. Economics, Geography NE Standards: SS 12.2.12 US Standard: 5, 6;
Benchmarks: 1, 3, 4
Grades: 6-12 How has the Constitution shaped the economy in the U.S.? Markets, Prices, Role of Government, Competition Class discussion and small group task identifying the six characteristics of a market economy and the provisions in the constitution that support a market economy. Unit 1, Lesson 1 from Focus on Economics: Civics and Government, ©Council for Economic Education. Economics, Government NE Standards: SS 12.2.10 US Standard: 7, 16;
Benchmarks: 2, 5, 6, 7
Grades: 9-12 Property Rights Video Property Rights EconEdLink: This video teaches the concept of Property Rights, which refers to the legal ownership of resources, including the right to own, use and sell them. Property rights are essential to the transactions in a market economy, and one of the essential roles of government in a market-oriented economy is to protect property rights. Economics NE Standards: SS 12.2.4 US Standard: 10, 16;
Benchmarks: 0
Grades: 6-12 What are the economic functions of government?** Role of Government Class discussion and small group task identifying six economics functions of government and examples of these functions using current events. Unit II, Lesson 4 from Focus on Economics: Civics and Government, ©Council for Economic Education. Economics, Government NE Standards: SS US Standard: 16;
Benchmarks: 1, 2, 3, 4, 5, 6, 7, 8
Grades: 9-12 Economics of Internet Access Shortages and surpluses EconEdLink: An understanding of shortages, supply, demand and the rationing function of prices is important as we encounter greater numbers of people logging on to the Internet. Economics NE Standards: SS 0 US Standard: 7;
Benchmarks: 0
Grades: 9-12 Is the Tassle worth the Hassle? Choice, Opportunity Cost, Incentives Analysis of the costs and benefits of educational choices. Learn about economic choice, opportunity cost, and incentives. ©Nebraska Council on Economic Education Economics, Consumer Econnomics NE Standards: SS US Standard: 1,2,4;
Benchmarks:
Grades: 9-12 Business Economics Course allocation of resources, economic systems, economic institutions and incentives, markets, prices, market structures, productivity, role of government, global economic concepts, and economic indicators. Course Outline: Business Economics is a course designed to help students understand economic principles as applied to current events and issues. Emphasis includes allocation of resources, economic systems, economic institutions and incentives, markets and prices, market structures, productivity, role of government, global economic concepts, and economic indicators. Economics, Business Economics NE Standards: SS 12.2.1, 12.2.3, 12.2.5, 12.2 10 US Standard: ;
Benchmarks: 0
Grades: 9-12 Where Did All the Money Go? The Mystery of the Great Depression Interdependence, Income, Money, Supply EconEdLink: The students read a brief passage that poses the mystery, "How did the Great Depression happen?" As detectives, they gather clues using the Internet to investigate the mystery through a series of clue sheets. In the first step they complete a retrieval chart to summarize information about the consumer price index, unemployment rate, federal spending, and US and world events that have economic and political implications. Economics NE Standards: SS 0 US Standard: 11, 5;
Benchmarks: 0
Grades: 9-12 Consumer Credit: Buy Now, Pay Later, and More. Choice, Opportunity Cost, Credit Lesson 10, Personal Decision Making: Focus on Economics. Copyright ©1996, (PDF Format) Council for Economic Education, New York, NY 10036. Used with permission. Personal Finance NE Standards: SS US Standard: 1, 2;
Benchmarks:
Grades: 9-12 How can business make money from tariffs?** Barriers to Trade CEE: Students investigate the impact of tariffs on businesses and consumers during the 1880s by looking at a political cartoon, solving a short math problem, and comparing protectionism between time periods. Lesson 7 from Focus on Economics: United States History, ©Council for Economic Education. Economics, American History NE Standards: SS 12.2.12 US Standard: 4, 17;
Benchmarks: 1
Grades: 6-8, 9-12 What is Money? Why Does It Have Value? Functions of Money, Exchange, Money, Voluntary Exchange EconEdLink: Students will think about why we have money, why it has value, and why it makes exchange easier. They will learn about the three main functions of money (as a medium of exchange, as a unit of account, and as a store of value) and why these functions are important. Finally, they will consider how a money system encourages specialization. Economics NE Standards: SS 0 US Standard: 11, 5;
Benchmarks: 0
Grades: 9-12 School for Sale Public Goods, Incentives, Economic Goals Examination of the case for privatizing a public school. Learn about public goods, private goods, costs, incentives, and economic efficiency. ©Nebraska Council on Economic Education Economics; Government NE Standards: SS US Standard: 16;
Benchmarks:
Grades: 9-12 Demand and Supply On-line Demand, Supply, Equilibrium Price Basic discussion of demand and supply and the determinants of demand and supply. Includes self-quiz for students on understanding shifts in demand and supply. ©Kim Sosin Economics NE Standards: SS US Standard: 7, 8;
Benchmarks:
Grades: 9-12 Nebraska Entreprenuers: Creating Your Own Careers Entrepreneurs, Productivity, Profit Ten lessons focusing on the characteristics of entreprenuers in the economy. Several lessons deal with Nebraska entreprenuers. ©Nebraska Council on Economic Education Economics NE Standards: SS 12.2.1 US Standard: 14, 15;
Benchmarks: 0
Grades: 9-12 Market Failures and Government Regulations: Is the Cure Worse than the Disease? Market Failures, Cost-Benefit Analysis, EconEdLink: Economic efficiency is something much more than producing goods at the lowest possible cost. In involves providing individuals with the goods and services they desire, in the quantities, qualities, places, and times they desire them, with the least use of society's scarce resources. Economics, Business NE Standards: SS 0 US Standard: 16, 3, 7, 9;
Benchmarks: 0
Grades: 6-8, 9-12 Understanding Currency Exchange Rates: Lesson 5 of Nebraska and the World Exchange Rates UNL Center for Econ Ed: The value of money is determined when people are willing to accept it in exchange for goods and services. The daily exchanges of currency between the U.S. and other nations have a major effect on international trade with Nebraska. Economics NE Standards: SS US Standard: 7,11;
Benchmarks: 0
Grades: 9-12 The 411 on College Education Human Capital, Resources-Human/Natural/Capital One of the most important financial decisions people make is whether to go to college. The price tag of a college education is rising, but so are the benefits. In this lesson, students will begin by learning the relationship between level of education and the average unemployment rate; and level of education and median weekly income. Students then learn about wage premiums and investigate the various college options available to them; financing options available to them; the importance of filling out the Free Application for Federal Student Aid (FAFSA); and finally, college as an investment in human capital, examine the costs and benefits, and decide whether it is a good choice. Economics NE Standards: SS 12.2.6 US Standard: 1;
Benchmarks: 0
Grades: 9-12 Marketplace: School Competition Competition In this lesson, students listen to an audio file about school vouchers creating market competition for public schools in June 2002. Students will identify the story's major concepts and their supporting details using an interactive note-taker. Economics NE Standards: SS 12.2.2 US Standard: 7;
Benchmarks: 0
Grades: 9-12 Give and Take Cost-Benefit Analysis CEE: Often decisions result in trading off some of one thing to get some of another. This lesson introduces the idea of trade-offs and provides practice in analyzing options before making decisions. Economics NE Standards: SS 12.2.6 US Standard: 2;
Benchmarks: 0
Grades: 6-12 Prohibition Then; MADD Today** Choice, Incentives Students read short histories of Prohibition and MADD (Mothers Against Drunk Driving) and work in small groups to evaluate the consequences of these policies on consumers' behavior. Lesson 9 from Focus on Economics: United States History, ©Council for Economic Education. Economics, American History NE Standards: SS US Standard: 1, 2, 4;
Benchmarks: 2, 4

EcEdWeb Home