Advancements in transportation have played a key role in the growth of our nation. U.S. government policies have also had a considerable impact on the development of transport as we know it today. In this series of three lessons, the students examine transportation and its impact on our nation (and vice versa) since the United States declared its independence in 1776. Lesson 1 focuses on improvements in transportation during the 19th century, particularly the development of a national rail system, to show how invention, innovation and infrastructure encouraged western expansion and economic growth. Lesson 2 moves on to the 20th century focusing on the development of auto transport and aviation. The impact on communities and world trade, for both good and bad,is examined. Lesson 3 calls upon the students to create a class timeline of transportation milestones; the timeline will help the students more clearly understand the factors, especially the economic incentives, that have played a key role in what has been called the "Transportation Revolution." While these three lessons will ideally be used together as a set, teachers may choose to use one or two of them, selectively, to focus, for example, on the 19th or the 20th century. If you would like your students to study the economics of transportation in more depth, consider following up with the EconEdLink lesson,An Economic Mystery: What Happened to Railroads?
Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
Carlos is a senior at local high school. When he graduates, he plans to study computer animation. He has applied to a number of two- year programs, and recently, he received letters of acceptance from four schools, one in the United States and three abroad. Carlos has funding from several sources, providing him with a $5,000 scholarship to be used at the school of his choice, a student loan of $5,000, and $6,000 of personal savings. Your job is to evaluate the options that will allow Carlos to complete a 2-year computer animation program, given the $16,000 of funding. The real issue for Carlos to consider is what he can afford. Listed below are the four schools to which Carlos has been accepted, including the package of options and expenses for each.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
This publication contains 10 lessons that reintroduce an ethical dimension to economics in the tradition of Adam Smith, who believed ethical considerations were central to life.
1 out of 12 lessons from this publication relate to this EconEdLink lesson.