The Inuit people of northern Canada provide an example of a traditional economy. For thousands of years, Inuit parents have taught their children the survival skills needed to survive in the Arctic Circle's severe climate. Students will research the Inuit economy and compare and contrast it with the United States' market economy.
Students will review the health systems of United States and Canada. They will identify the positive aspects of each system. They will look at the trade-offs associated with those positive aspects. In Canada, everyone has health care, but certain specialized medical services are not always available. In the United States, many people are not insured, yet for many people the access to technology and specialization is phenomenal. Which is the better choice? Students will also recognize that choosing between these two systems requires a trade-off between the economic goals of economic freedom and economic security.
Economists do not operate in a vacuum. If an economist is going to suggest that the price of a good needs to be increased, he or she needs to consider who will bear the increase in costs. Will the costs be distributed equally or will one group pay more than another group? Furthermore, an economist should ask if there is a more efficient way to allocate the good than by means of a broad-based price increase. This lesson focuses on the drought that plagued the Northeast in the summer of 1999, supply, demand, and cost/benefit analysis.
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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.
6 out of 45 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.
5 out of 12 lessons from this publication relate to this EconEdLink lesson.
This publication helps students analyze energy and environment issues from an economics perspective.
4 out of 10 lessons from this publication relate to this EconEdLink lesson.