Unit Overview: Economics has a large role in our daily lives, whether it be price changes, how much of a product you want is in supply, investing in the stock market, or even in creating a new business. In this unit students will cover the basic concepts of economics such as scarcity, supply and demand in order to better understand the prosperity or poverty of a region. They will use the basic concepts they learn to then apply the necessary skills to create their your own business and participate in a stock market game.
During this unit you will participate in a live online stock market simulation. With $100,000 virtual dollars you will have the opportunity to invest in real stocks over an 8 week period. Your decisions will be guided by applying key concepts including diversification, public and private companies, risk and reward, and by completing an ongoing company analysis.
Power Standard 7: Learner can demonstrate their understanding of how economics and its basic concepts have an impact on their daily life.
Students will create and present a small business project to the class which will be part their assessment for LT 7.1 and LT 7.2
* Small Business Project - Directions
* Small Business Project - Student Sheet
Learning Target 7.1: Compare and Contrast free, command, mixed and traditional economic systems.
Class Resources for Learning Target 7.1
* Intro to Economics - PowerPoint
* Economics Terms - Student Sheet
* Business Organization - PowerPoint
* Business Organization - Student Sheet
* Supply and Demand/Consumer and Producer - Student Sheet
* Factors of Production - PowerPoint
* Factors of Production - Student Sheet
VIDEO RESOURCES
* Factors of Production - PowerPoint
* Factors of Production - Student Sheet
* Opportunity Cost - Basic Information
* Scarcity Lesson - Student Sheet
LINK: Discovery Science - How Things Are Made: Choose to watch how a few products around the world are actually made.
* GDP - PowerPoint
* GDP - Student Guided Notes Sheet
* Mapping GDP - Directions
* Mapping GDP - Student Sheets (choose one)
Learning Target 7.2: Explain the relationship between economic concepts in our economic system (mixed).
Class Resources for Learning Target 7.2
* Basics of Economic Systems - Reading
* Basics of Economic Systems - Student Sheet
* Economic Systems - PowerPoint
* Types of Economies - Student Sheet
Learning Target 7.3: Analyze the risk of buying or selling a company's stock.
Class Resources for Learning Target 7.3
* Diversify and Risk - Student Worksheet
How to research a company using Market Watch - PowerPoint