Finish this intro to economics lesson plan off by handing out the included worksheet and asking students to complete it. Provide students with specific examples of resources and ask them to come up with their own examples, then come to the board and write them in the appropriate category. Then explain to students that the economic way of thinking is only effective if all variables are considered. Instructional Objective(s) (Lesson Objective(s)*) After participating in a lecture on the introduction to economics, students will research a current news article about one aspect of either local (state) or national economy. Explain to students that economic resources are divided into three groups. Introduction to Economics - Lesson Plan Introduction to Economics - Lesson Plan: 2 x 1 hour lessons. This is done by use of terms and definitions to those terms. Acknowledgement: Ed Sexton and Rick Hirschi were the primary authors of the material contained in this lesson. 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Move on to the next section of the leconomics lesson plan. TIME VALUE OF MONEY : Time Value of Money - TVM. Introduction to Economics - Lesson Plan Introduction to Economics - Lesson Plan: 2 x 1 hour lessons. As students answer the questions, write their answers under the appropriate term. The economic way of thinking tries to avoid making mistakes by considering all variables. Using examples, explain how scarcity, choice, opportunity costs affect decisions that households, businesses, and governments make in the market place and explain how comparative advantage creates gains from trade. No introduction to economics lesson plan is complete without answering the question “What is economics?”. Then, define economics to the students as the study of how society chooses to allocate its scarce resources to the production of goods and services to satisfy unlimited wants. As they complete the worksheet, they should categorize their resources and uses for them in the appropriate categories. Lesson 1 - Introduction to Macroeconomics and Review of Microeconomics IMPORTANT NOTE: This lesson contains a lot of Microeconomics review material. Below this, write the words (with plenty of space between them) “Land”, “Labor” and “Capital”. Use this material to help you remember what was learned in Microeconomics. An introduction to economics. Explain to them that this type of reasoning is the type of reasoning used by economists. Begin by asking students what economics is. Begin this intro to economic lesson plan by asking students the following questions. If the price of lumber doubled would the same amount of houses be built if there were 5 natural disasters. This lesson plan helps teachers to answer that question along with introducing some of the terminology used in economics so that students can fully understand what they are reading and listening to.


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