Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
Almost everybody has heard about the Y2K problem. It has raised fears about everything from the security of our water supply to the threat of missile attacks triggered by computer glitches. Some of these threats seem pretty far-fetched. But what about threats to the security of our money? Could the Y2K problem wreak havoc with our bank accounts and other financial holdings? What can be done to prevent trouble of this sort from occuring? And whose job is it to ensure that the necessary steps are taken? This lesson addresses these questions.
COMPELLING QUESTION Why do politicians disagree on economic issues—isn’t there one right answer? Students work in small groups and are assigned a version of diary excerpts written by a student intern working for a policymaking legislator. Half the groups read a diary that focuses on stability, security, and equity as broad social goals. The other half read a diary that focuses on freedom, efficiency, and growth. Students determine which broad social goals are emphasized in their reading. During a debriefing, students will discuss broad social goals and identify how trade-offs arise when a society pursues competing social goals. Finally, students choose a current social issue and develop a public policy to deal with that issue, identifying the goals they are attempting to achieve and trade-offs that might arise in terms of other worthy goals.
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