Economics 101: Basic Concepts in Scarcity, Micro & Macro

Time: 60 minutes,

Presenter: Amanda Stiglbauer

Teacher Version

Objective Standards Summary Description Resources

Objective

Teachers will be able to:

Understand the fundamentals of economics.
Use activities to help students discover how economics permeates our world.
Use the news and other activities to build student engagement.

Standards

State Standards

Concepts

Opportunity Cost, Productive Resources, Scarcity

This video is available to view for EconEdLink members only.

In this economics webinar, teachers will understand the importance of studying economics and how scarcity impacts decisions.

Description

The first few days are crucial in establishing the importance of studying economics. This webinar will model best practices in teaching what economics is all about, scarcity, and the differences between micro and macroeconomics. PowerPoint presentations and a variety of activities will be shared. Teachers will have the opportunity to discuss their favorite activities relating to scarcity, productive resources, and micro and macro economics.

Resources

Subjects:

Grades K-2, 3-5

Teach Specialization using Sloth and Squirrel in a Pickle

In this economics lesson, students participate in hands-on activities that reinforces the concepts of specialists/entrepreneurs, workers, capital resources, and products.

Key Concepts: Entrepreneurship, Productive Resources, Specialization

30 mins

Lesson

See Lesson