EconEdLink Update

June 2010

Council for Economic Education

In this issue:

Featured Lessons:

Other Areas of Interest:

Featured Lessons:

Toys for Me: A Lesson on Choice
Students encounter the concept of scarcity in their daily tasks but have little comprehension as to its meaning or how to deal with the concept of scarcity. Scarcity is really about knowing that often life is 'This OR That' not 'This AND That'. This lesson plan for students in grades K-2 and 3-5 introduces the concept of scarcity by illustrating how time is finite and how life involves a series of choices. Specifically, this lesson teaches students about scarcity and choice: Scarcity means we all have to make choices and all choices involve "costs." Not only do you have to make a choice every minute of the day because of scarcity, but, when making a choice, you have to give up something. This cost is called oppportunity cost. Opportunity cost is defined as the value of the next best thing you would have chosen. It is not the value of all things you could have chosen. Choice gives us 'benefits' and choice gives us 'costs'. Not only do you have to make a choice every minute of the day, because of scarcity, but also, when making a choice, you have to give up something of value (opportunity cost). To be asked to make a choice between 'this toy OR that toy' is difficult for students who want every toy. A goal in life for each of us is to look at our wants, determine our opportunities, and try and make the best choices by weighing the benefits and costs.

Grades K-2, 3-5:

You Can BANK on This! (Part 2)
As in the first 'You Can BANK on This,' you will learn that banking should not be confusing - it should be INTERESTING! Lesson Two will continue learning with Zing, but this time we will learn all about budgeting - and budgeting means making choices!

Grades 3-5:

You're Going to College
The students will explore the costs and the benefits of going to college. They participate in a three-part game designed to help them understand the decisions associated with attending college and the benefits available to college graduates.

Grades 6-8:

The Credit Card Mystery
Credit Cards are a risky business these days, especially for students and those holding multiple cards. I nterest rates on credit card balances have always been high relative to other rates, for several reasons. Despite this, there is still a demand for the "plastic money" that many people see as convenient and ideal with the increasingly technological world economy. This lesson explores many issues surrounding credit cards- from what to look for when selecting a card to what the government is doing to aid consumers.

Grades 9-12:

Other Areas of Interest:

DataLinks on EconEdLink

EconEdLink DataLinks
The DataLinks page provides access up-to-date macroeconomic data for classroom use, including primary source materials, charts, and simulations.

EconEdLink also provides Focus on Economic Data lessons developed on four key economic indicators. The indicators deal with inflation, employment and unemployment, real GDP and the Federal Reserve. The current numbers and lessons can be found on the DataLinks page. The links beside the indicator will always take you to the most current Focus on Economic Data lesson.

Scroll down on the DataLinks page and you will find more information that will help you and your students make sense out of the economic data that is presented

For more information:

Verizon Thinkfinity has a NEW look

Verizon Thinkfinity
The month of April Verizon Thinkfinity unveiled its newly redesign web page has launched their redesigned site. You still have access to the same great classroom materials, but you also gain social networking, professional development, and a community section that allows you to save, share, and organize your favorite Thinkfinity resources.

Check it out!:


EconEdLink will have a NEW look

EconEdLink logo
We're redesigning EconEdLink! We're changing the colors, adding some cool new features, and doing our best to make a great resource even better. Based on feedback from our users, we're organizing the site so our three primary audiences -- educators, students, and parents -- can find resources quickly and easily. The new and improved EconEdLink will launch this summer. Stay tuned!

Continue to visit:

Edited by John LeFeber,
Curriculum and Instructional Developer Project Manager
Council for Economic Education
Lincoln NE Office
215 N. 8th Street, Suite 215
Lincoln, NE 68508

Phone: 402.438.6921 | Fax: 402.438.6867 | Email:
Council for Economic Education EconEdLink thinkfinity
The Council for Economic Education offers comprehensive, best-in-class K-12 economic and personal finance education programs, including the basics of entrepreneurship, consisting of teaching resources across the curriculum, professional development for teachers, and nationally-normed assessment instruments. Each year, the Council's programs reach more than 150,000 K-12 teachers and over 15 million students in the United States and in more than 30 other countries. These programs are delivered through a diversified system: directly from the Council, through a network of affiliated state Councils and university-based Centers for Economic Education, and through other partner organizations. EconEdLink is a program of the Council for Economic Education and a member of the Thinkfinity consortium. EconEdLink provides a premier source of classroom tested, internet-based economic lesson materials for K-12 teachers and their students. EconEdLink continues to offer content based interactives that enhance the more than 600 lessons, and assist students as they explore economic concepts.