High School Economics

About the Book

To help teachers better teach economics, the Council for Economic Education revised and updated High School Economics. This new and revised 3rd Edition includes 28 engaging lessons which employ an active-learning approach that brings economic concepts to life for students. This resource has been:

  • Updated to include more contemporary references that highlight new challenges in a world that has changed significantly since the 2nd edition 11 years ago
  • Redesigned to meet the needs of today’s students and reflects current economic thinking
  • Integrates more macroeconomics and international economics lessons including materials on topics such as GDP, unemployment, inflation, and trade
  • Field-tested and aligned with Voluntary National Content Standards in Economics and Common Core State Standards (ELA and Math)
  • Select lessons feature interactive online activities that connect to and extend the lessons both in class and as self-guided homework activities

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Table of Contents

  1. Production Possibilities and Opportunity Cost (Slides, Print Activities)
  2. Allocating Scarce Resources (Slides, Print Activities)
  3. Marginalism (Slides, Interactive Worksheet, Print Activities)
  4. A Classroom Market for Cocoa (Slides, Collaborative Activity, Print Activities)
  5. What Happens When Prices are not in Equilibrium? (Slides, Print Activities)
  6. The Market Never Stands Still (Slides, Print Activities)
  7. How Markets Interact (Slides, Print Activities)
  8. Productivity (Slides, Print Activities)
  9. Perfect Competition Versus Monopoly (Slides, Interactive Visual, Print Activities)
  10. Game Theory: One Step Ahead of the Competition (Slides, Print Activities)
  11. Not-So-Private Goods and Services (Slides, Print Activities)
  12. Third-Party Costs and Benefits (Slides, Print Activities)
  13. Who Decides Wage Rates? (Slides, Interactive Activity, Print Activities)
  14. Income Distribution (Slides, Interactive Activity, Print Activities)
  15. Public Choice Economics (Slides, Print Activities)
  16. The Circular Flows of Econoland (Slides, Print Activities)
  17. Inflation (Slides, Print Activities)
  18. Unemployment Survey (Slides, Interactive Worksheet, Print Activities)
  19. Economic Growth (Slides, Print Activities)
  20. Explaining Short-Run Economic Fluctuations (Slides, Print Activities)
  21. Fiscal Policy: The Multiplier Effect (Slides, Print Activities)
  22. The Case of the Gigantic $100,000 Bill (Interactive Visual, Print Activities)
  23. Interest Rates: Let’s Go Shopping for Money (Slides, Interactive Visual, Print Activities)
  24. The Fed’s Toolbox (Slides, Print Activities)
  25. Trade: Why Do People Trade? (Slides, Print Activities)
  26. Comparative Advantage (Slides, Interactive Visual, Print Activities)
  27. Where to Build a Factory (Slides, Print Activities)
  28. Broad Social Goals of an Economy (Print Activities)

Browser Support: Interactive activities work best in modern versions of Chrome, Firefox, and Safari. Internet Explorer is not fully supported in all activities. Interactive Activity Feedback and Support.

Interactive Activities

Ten of the lessons in High School Economics include web-based interactive supplements. These supplements range from simple online worksheets designed to help teachers make the best possible use of instructional time to rich, collaborative activities that have students working together and interacting with each other. The collaborative activities are designed to be easy to use and are built around CEE’s commitment to active learning. They don’t require managing multiple sets of student usernames and passwords. Teachers are able to create a special web address for each group that they can distribute to their students. At the end of the activity, teachers can download all of the data generated by their students and use those data to illustrate the concepts covered in the lesson.

Browser Support: Interactive activities work best in modern versions of Chrome, Firefox, and Safari. Internet Explorer is not fully supported in all activities. Interactive Activity Feedback and Support.

Sample Lesson: Wage Rates

In this lesson, students play the role of either buyers or sellers of labor to examine the interconnectedness of individuals and companies in labor markets. Students learn that the demand and supply for labor determine market wage rates and that wages depend, in part, on individual productivity.

Demonstration Videos

Lesson 13: Who Decides Wage Rates?

Lesson 18: Unemployment Survey

Authors

Curt Anderson

Dr. Anderson earned his Ph.D. in Economics from the University of Wyoming with specialties in environmental and natural resource economics and general economic theory. He has published numerous journal articles and curriculum materials, conducted teacher-training workshops on every continent (except Antarctica…penguins are smart enough), created the Council for Economic Education’s “National Economics Challenge,” and served as President of the National Association of Economic Educators (NAEE). He is a member of the University of Minnesota’s Academy of Distinguished Teachers and has received numerous awards for his teaching and service from his university, NAEE, and the Minnesota Council on Economic Education.

Brett Burkey

Brett Burkey has taught Economics and Personal Finance for thirty years at Spanish River H.S. in Boca Raton, FL. He is Chairman of the Social Studies Department there as well. In addition, he serves as the Assistant Director of the FAU Center for Economic Education and provides teacher training on behalf of the FCEE. He is a past recipient of both the National High School Teacher of the Year from the CEE and the Florida Economic Educator of the Year from the FCEE.

Bonnie Meszaros

Bonnie Meszaros joined the Center for Economic Education and Entrepreneurship at the University of Delaware in 1974 as a field consultant. She currently serves as the Center’s associate director and is an assistant professor in the Economics Department. After graduating from Ohio Wesleyan University in 1967, she taught middle school in Ohio and Delaware before joining the Center. She received her master’s in education in 1980 and Ph.D. in 1986 from the University of Delaware. She served as project director and as a member of the writing team for the development of the Voluntary National Content Standards in Economics and is a coauthor of the National Standards for Financial Literacy. She is a past president of the National Association of Economic Educators and is a recipient of the Bessie B. Moore Service Award and the Patty Elder International Award. Bonnie has co-authored numerous economic education materials and published in The Journal of Economic Education, Social Studies and the Young Learner, Social Education, AEA Papers and Proceedings, and the Journal of Consumer Education.

Mike Raymer

Mike Raymer is the Program Manager at the Georgia Council on Economic Education and is responsible for developing and conducting K-12 workshops designed to facilitate the teaching of economics throughout the state of Georgia. In addition, he acts as liaison between the Georgia Association of Economic Educators and social studies teachers in the state of Georgia. Mr. Raymer is a frequent workshop presenter who has lectured at state, regional, and national conferences. He is a former Georgia Economics Teacher of the Year, the 2014 President of the National Association of Economic Educators, and a 2013 Georgia Partnership for Excellence in Education Fellow.

Martha Rush

Martha Sevetson Rush teaches AP Macroeconomics, AP Microeconomics, AP Psychology and Journalism at Mounds View High School in Arden Hills, MN, where she has worked since 1997. She is a graduate of the University of Michigan (B.A.) and the University of Minnesota (M.A.) She serves on the Board of Directors for the Minnesota Council on Economic Education (MCEE) and is a member of the College Board’s AP Microeconomics Curriculum Development and Assessment Committee. She is the 2013 recipient of the national John Morton Excellence in the Teaching of Economics Award and is a frequent instructor for MCEE.

Phillip VanFossen

Phillip J. VanFossen is the Head of the Department of Curriculum and Instruction in the College of Education. He also serves as the James F. Ackerman Professor of Social Studies Education and as Director of the James F. Ackerman Center for

Contributors

Andrew Hill

Andrew Hill is the economic education advisor at the Federal Reserve Bank of Philadelphia and adjunct professor of economics at Temple University. He served as a member of the writing committees for the National Standards for Financial Literacy and FOCUS: Middle School World History. In 2012, Andrew received the Bessie B. Moore Service Award from the National Association of Economic Educators and the National Council for Economic Education. He is the author of articles appearing in the Journal of Consumer Education, Social Education, and Social Studies and the Young Learner, and numerous lessons for use in the K-12 classroom.

Kris Bertelsen

Kris Bertelsen is an Economic Education Specialist with the Little Rock Branch, Federal Reserve Bank of St. Louis. Previously, Kris taught high school economics in St. Charles, MN. He graduated from St. Cloud State University and earned his Master’s in Economic Education and Entrepreneurship from the University of Delaware. Kris has served on various boards and committees including the President’s Advisory Council on Financial Literacy, the 2012 National Assessment of Educational Progress [NAEP] economics assessment writing committee, various capacities for the Council for Economic Education [CEE], and on the 2014 Arkansas Department of Education, Social Studies Standards Frameworks Revision Committee.

Scott Wolla

Scott Wolla is senior economic education specialist at the Federal Reserve Bank of St. Louis where he develops economics and personal finance curricula including traditional lessons, online learning modules, videos, and podcasts. Scott earned his B.S. in social studies education from Minnesota State University Moorhead, M.S. in teacher education from Bemidji State University, and M.A. in economics for educators from the University of Delaware. Prior to his time at the Federal Reserve Bank of St. Louis, Scott taught history and economics in Minnesota.

Project Director

William Bosshardt

William Bosshardt has been director of the Center for Economic Education at Florida Atlantic University since 1995. He was on the writing team of a number of publications by the Council on Economic Education including Focus: Globalization and Focus: Civics and Government. He was the project director for the volumes Focus: Middle School World History as well as for the National Standards in Financial Literacy.

Bill is an active researcher in the area of economic education, having published in leading journals such as the Review of Economics and Statistics, Economic Inquiry and the Journal of Economic Education. He received the Henry H. Villard Research Award in 2004, presented by the National Association of Economic Educators for outstanding published research in economic education. Bill received his Ph.D. from Purdue University in 1991.

3M

The Council for Economic Education gratefully acknowledges the funding of this publication by 3Mgives.

Bibliographic Information

ISBN
978-1-56183-753-3
Number of Pages
420 pages
Number of Interactive Activities
10 interactive activities