ESSENTIAL DILEMMA How do we know if we are getting good value out of the money we spend on defense?
Essential Dilemma Your students will consider the following questions: In deciding to secede from the Union in 1861, did the South violate its own self-interest and thus disprove the basic economic principle that people seek to further their self-interest in the decisions they make? To get at the question, each student will assume the role of an ardent secessionist. Acting in this role, the students will apply principles of economic reasoning and use a decision grid to weigh the benefits and costs of the South's effort to create a new nation in which slavery and state's rights would forever be guaranteed by law.
Students examine tradeoffs and profit- maximization decisions in the case study of Kaiser Aluminum, which decided to shut down aluminum production in favor of reselling electricity.
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