Grades 9-12
Content Partner
Grade 3-5, 6-8
,
Lesson
Costs and Benefits of Beans’ Decisions
Objective
Students will be able to:
- Identify the economic concepts: Cost, Benefit, and Decision Making.
- Distinguish if a statement is a cost or benefit when making a decision using a cost/benefit analysis.
- Use a cost/benefit analysis to make a decision.
- Explain their decision that was made when using a cost/benefit analysis.
Standards
In this economics lesson, students will make decisions using a cost-benefit analysis.
Description
Full of Beans by Jennifer L. Holm tells a story about Beans Curry and his many decisions during the Great Depression. In Key West, Florida, there are very few jobs. Everyone is out for himself or herself including Beans. It is hard for Beans to earn a dime, and he does not want to be “winked” out of earning his fair share by a ‘lying adult’. His first scheme does not work well, so he keeps trying. Now, he must decide to remain penniless or break a few rules to earn an income. In this lesson, we will help Beans make decisions using a cost-benefit analysis.
Subjects:
Economics Related Resources
Students compare the economic costs and benefits of helping people who are experiencing housing insecurity and consider the ethical implications.
Key Concepts: Decision Making/Cost-Benefit Analysis, Role of Government
Grades 9-12
Can You Be Fashionable and Ethical?
Students “produce” blue jeans and make business choices about production to simulate the decision of changing from more expensive, but...
Key Concepts: Costs of Production, Decision Making/Cost-Benefit Analysis, Externalities…
60 mins
Lesson
Grades 9-12
What is the Most Ethical Way to Fund Public Schools?
Students analyze documents, create a school-funding graphic organizer, and write an email to their state representative with their plan to...
Key Concepts: Decision Making/Cost-Benefit Analysis, Opportunity Cost, Role of Government
90 mins
Lesson
Grades 9-12
Does Self-Interest Prevent Economic Justice?
In Lesson #7 0f the Ethics, Economics, and Social Issues curriculum, students explore basic ideas of justice by examing government...
Key Concepts: Decision Making/Cost-Benefit Analysis, Incentives, Veil of Ignorance
60 mins
Lesson