This lesson will discuss absolute advantage, comparative advantage, specialization and trade with an example using professional basketball player LeBron James.
In this lesson, students will learn about the gains from trade. Students will participate in a trading game that will demonstrate that trade can make everyone better off.
Advancements in transportation have played a key role in the growth of our nation. U.S.government policies have also had a considerable impact on the development of transport as we know it today. In this series of three lessons,the students examine transportation and its impact on our nation (and vice versa) since the United States declared its independence in 1776. Lesson 1 focuses on improvements in transportation during the 19th century, particularly the development of a national rail system, to show how invention, innovation and infrastructure encouraged western expansion and economic growth. Lesson 2 moves on to the 20thcentury focusing on the development of auto transport and aviation. The impact on communities and world trade, for both good and bad,is examined. Lesson 3 calls upon the students to create a class time line of transportation milestones; the time line will help the students more clearly understand the factors, especially the economic incentives,that have played a key role in what has been called the 'Transportation Revolution.' While these three lessons will ideally be used together as a set, teachers may choose to use one or two of them, selectively, to focus, for example, on the 19th or the 20th century. If you would like your students to study the economics of transportation in more depth, consider following up with the EconEdLink lesson, An Economic Mystery: What Happened to Railroads?
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.
The teacher guide accompanies the student activities books in macro- and microeconomics for teaching college-level economics in AP Economics courses. The publication contains course outlines, unit plans, teaching instructions, and answers to the student activities and sample tests.
58 out of 58 lessons from this publication relate to this EconEdLink lesson.
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.
45 out of 45 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.
40 out of 40 lessons from this publication relate to this EconEdLink lesson.