Federal Reserve Bank
Choices Are Everywhere: Why Can’t We Just Have It All?
Here is a resource covering a range of terms and concepts regarding scarcity, opportunity cost, and government debt in economics.Â
Federal Reserve Bank
The Legacy of the Olympics: Economic Burden or Boon?
Do the economic benefits of major sporting events such as the Olympics or the World Cup outweigh the expected costs? Using fundamental economic terms, discover the explicit and implicit costs and benefits for countries that host these...
Curated OER
Identifying Opportunity Cost
Students work together to examine the concept of opportunity costs. They complete a practice problem and solve other problems during the class period. They share their solutions with the class.
Curated OER
Specialization and Voluntary Exchange
Studnets participate in a trading simulation game in which they experience the effects of trade and how trade can increase wealth.
Curated OER
Consumer Borrowing and Spending
Credit can be confusing for teens, some of whom are already using credit cards. Clear up misconceptions with this group research activity which has a solid outline with a lot of room to adjust to your needs and resources. Groups are...
Curated OER
Economics Study Guide
Use this resource as a basic review of economic principles. There are six questions relating to the factors of production, opportunity costs, wants and needs, tangibles and intangibles, and more.
Curated OER
Creating Volunteers
Students discuss the benefits of volunteering. In this creating volunteers lesson plan, students consider philanthropic actions and opportunity costs. Students create a song and visual aid about being a volunteer.
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Something from Nothing
Students identify opportunity costs. In this resources lesson plan students are read the story Something from Nothing by Phoebe Gilman. Students list the things Grandpa makes Joseph. Students state why people make choices.
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Time Value of Money
Students evaluate the time value of money. In this economics lesson, students define inflation, interest, and the future value of money.
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Uncle Jed's Barbershop
Fourth graders examine productive resources. In this economics lesson, 4th graders read a book about a man who saves money to buy his own barbershop. After reading, students get into groups to play a game to learn about savings.
Curated OER
Charge Cards!
Students identify and define the various types of credit cards and credit card offers. In this credit cards lesson, students identify the pros and cons of managing a credit card account. Students locate information on the Federal...
Curated OER
Money situations
In this money situations worksheet, students read money word problems and then list the benefit, opportunity cost, risks, and responsibilities for each one. Students do this for 6 questions.
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Scarcity, Choice and Decisions
Young scholars study the basic economic trilogy (scarcity, choice, and costs). In this money management lesson, students use a scenario of a High School Prom to calculate how scarcity, choice and cost apply by completing provided...
Curated OER
Why Nations Trade
Students discuss international trade. In this trade instructional activity, students read about comparative advantage and the benefits of international trade. Students perform a skills test to determine their individual specialization...
Curated OER
Give and Take
Students analyze a scheduling dilemma. In this opportunity cost and trade-offs lesson, students must schedule the school gym for basketball games, but there are not enough hours for all the games. Groups determine how time will be...
Curated OER
Can't You Make Them Behave, King George?
Fifth graders describe the changes in King George III's policy toward the American colonies by sequencing key events between the French and Indian War and the American Revolution. They explain the colonial reactions to command decisions...
Curated OER
The Rising Cost of Health Care: Is there an explanation?
Twelfth graders explore rising health care costs and the Law of Diminishing Marginal Utility. They participate in an activity that demonstrates the Law of Diminishing Marginal Utility. Students read the may 27, 2005 Economic Letter and...
Curated OER
First Grade Economics Unit
First graders begin by studying the differences between a "good" and a "service". They compare items to each other to help comprehend the differences. They also look into the differences between buyers and sellers and how the choices...
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Tarantula Shoes
Students read a book about Ryan O'Keefe, a young man who wants a pair of basketball shoes promoted by a basketball star. They explore about spending, saving, opportunity cost, and trade-offs as they study Ryan's decisions throughout the...
Council for Economic Education
Timing Is Everything
Students discuss the incentives and opportunity costs of spending vs. saving. They follow an interactive website which shows them the how much money they could end up with by saving instead of spending.
Curated OER
Production Possibilities & Opportunity Cost
In this economics worksheet, 12th graders respond to 15 multiple choice questions about production possiblities and opportunity costs.
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Love Letters to the World
Young scholars practice personal decision making. In this philanthropy lesson, students compare three different projects, identify the opportunity cost of each, and make a personal decision about which project they feel the class would...
Curated OER
Opportunity Cost
Students review the concept of opportunity cost. Using a clip from a money, they identify the people who made a choice and the value of the choice given up. They read various scenarios about opportunity costs and trade-offs and make...
Curated OER
Scarcity and Opportunity Cost - To Choose Is To Refuse
Students are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...