Students will learn about important labor market statistics that are frequently discussed in the media. An understanding of the unemployment rate and labor force participation rate will be developed through participation in an interactive simulation game.
The environment has recently been the focus of much research and discussion. Because productive resources are limited, it is important that we use resources wisely to ensure that resources will be available for use in future generations. Of concern to both environmentalists and economists are the trends in the world's population [Note to Teachers: Not all students may feel comfortable discussing some of the consequences of China's "one-child" policy addressed in Task 6.]
When Henry Ford announced he was going to produce an automobile that would be affordable to the masses, it is doubtful even he realized the far reaching impact such an achievement would have on life in the U.S. and eventually, the world. Ford’s use of mass production strategies to manufacture the Model T revolutionized industrial manufacturing and initiated a new era in personal transportation. This 3-part learning unit provides students with the story of Henry Ford and the Model T from an economics perspective. Parts 1 and 2 explore how the Ford Motor Company successfully introduced mass production strategies to the auto industry. Students learn how specialization and investments in capital (machines, people, etc.) increased productivity and allowed Ford to slash the price of his popular vehicle. Students chart a plan for the assembly line production of bookmarks, test their plan and make recommendations for improvements. Students also explore how Henry Ford used economic incentives to address a problem created by mass production techniques—worker turnover. An optional Part 3 explains how increased productivity resulted in shifts in the supply and demand for the Model T. Students analyze how a variety of non price determinants continue to influence the automobile market today. A wealth of extension activities is provided if additional time is available.
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.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
9 out of 40 lessons from this publication relate to this EconEdLink lesson.
With lessons combining economics and world history, students discover how people and nations developed as a result of making decisions based on maximizing local resources.
4 out of 12 lessons from this publication relate to this EconEdLink lesson.
This revised edition features simulations, role plays, small-group discussions and other active-learning instructional activities to help students explore economic concepts through real-life applications.
3 out of 21 lessons from this publication relate to this EconEdLink lesson.