This lesson focuses on the scarce and nonrenewable nature of fossil fuels in order to stimulate student thinking about energy conservation. It emphasizes the fact that saving energy can be good for the wallet as well as the earth's future. Students play a memory game that challenges them to find people-powered substitutes for things that use electricity and gas. Students then use the federally-mandated EnergyGuide labels to estimate the cost savings of energy- efficient home appliances. In a final activity, students explore positive and negative economic incentives that motivate people to conserve energy. Many federal energy-related programs and policies are featured in this lesson. These include, besides the Energy Guide label, EnergyStar certification, the Fuel Economy Guide for motor vehicles, and a diverse collection of taxes, tax breaks and subsidies. In this lesson, students examine options for reducing their dependence on energy resources, especially by substituting people power for other forms of energy and purchasing energy efficient home appliances. Students also explore some of the government programs that are influencing consumer choices in the marketplace.
COMPELLING QUESTION Do people always make economics decisions by strictly weighing the costs and benefits of each alternative? This lesson introduces students to some of the basic concepts addressed in behavioral economics. The lesson conducts a number of short experiments to illustrate the concepts. Students learn how the human mind behaves using the ideas of system 1 and system 2. Students learn how these systems influence economic decision making. By understanding these concepts, the students can better understand how economics is a subject that can draw from many other disciplines, including psychology.
Students learn about incentives for alternative energy programs and the role played by non-price determinants in energy choices.
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 complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
16 out of 45 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
15 out of 40 lessons from this publication relate to this EconEdLink lesson.
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.
7 out of 12 lessons from this publication relate to this EconEdLink lesson.