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.
In this lesson, students will learn about a speculative bubble within the context of the U.S. real estate market.
COMPELLING QUESTION Can arbitrary numbers stick in our minds and affect our decision making? Students will participate in a trading game in which students are either a buyer or seller in a market. In this market students will be exposed to a particular number to serve as an anchor. The goal is to see if the students who are the sellers were able to get a higher price from the students with the higher anchor than the students with the lower anchor. This activity will be an introduction to analyze and discuss one of the most powerful tools for negotiation and a widely discussed topic in behavioral economics.
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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.
9 out of 45 lessons from this publication relate to this EconEdLink lesson.
This publication contains 16 stories that complement the K-2 Student Storybook. Specific to grades K-2 are a variety of activities, including making coins out of salt dough or cookie dough; a song that teaches students about opportunity cost and decisions; and a game in which students learn the importance of savings.
9 out of 15 lessons from this publication relate to this EconEdLink lesson.
This publication helps students analyze energy and environment issues from an economics perspective.
6 out of 10 lessons from this publication relate to this EconEdLink lesson.