“The verdict is in: California’s experiment with energy deregulation is not just a mess; it’s a certifiable failure, according to everyone from the state governor to the very utilities that initially backed the scheme.” This is how Charles Feildman, CNN Correspondent, began his article on January 4, 2001, entitled “The California Power Quagmire”. Has this happened with any other industry? How and why did this happen in California and can it happen in other states? To understand what happened one must look at some simple and basic concepts in economics.
Art, baseball cards, coins, comic books, dolls, jewelry and stamps are just a few examples of the many things people collect. While some people collect for fun — others hope to profit. In this lesson, students explore how supply and demand influence the price of collectibles. They also evaluate speculation in collectibles as an investment option. They learn that collectibles are one of the riskiest ways people can invest their money.
Students learn how to identify headlines in the news and current events as illustrations of problems in supply and demand. Students will be linked to news sites to create their own analysis of supply and demand issues in problems facing our society.
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.
8 out of 45 lessons from this publication relate to this EconEdLink lesson.
Created specifically for high school mathematics teachers, this publication shows how mathematics concepts and knowledge can be used to develop economic and personal financial understandings.
7 out of 15 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.
4 out of 40 lessons from this publication relate to this EconEdLink lesson.