EconEdLink maintains a large library of online economic and personal finance resources for K-12 teachers & their students.
Students explore budget constraints by solving a contextual problem involving the purchase of goods on a fixed income. Adjustments to the quantities of two goods are used to explore the meaning of points on a graph and relationships between quantities and disposable income. Students scale and label axes as they create graphs of relationships between two goods they want to purchase with a fixed income. Students create a representation of a budget constraint and predict the effects of changes in income and the prices of goods on the representation of the budget constraint.
Students describe and identify where certain items they own come from and the approximate price of these items. They learn that to purchase an imported item they have to pay the people from whom the item was imported in their country’s currency. Moreover, if they want to travel to another country, they have to pay for the goods and services they buy in that country’s currency. Students calculate exchange rates and derive an equation to convert prices for goods in one country’s currency compared with another.
Using data from the Bureau of Labor Statistics for the Consumer Price Index (CPI), students explore the latest release for December 2014. Building on last month's lesson that discusses the problems with the CPI, they learn about alternative ways of measuring inflation.
In this lesson, students explore the advance estimate of real GDP data for the fourth quarter of 2014. These data, released by the Bureau of Economic Analysis, are presented first as estimates, then as revisions as more data for the time period is collected. This lesson uses data from the initial estimate of the 4Q 2014 activity. Students will understand the recent trends in real GDP, as well as explore alternative ways to measure a country's well-being.
This lesson utilizes the January 28, 2015, statement of the Federal Reserve's Federal Open Market Committee (FOMC) to explore the Federal Reserve's twin goals of price stability and full employment. This lesson discusses the relationship between interest rates and stock prices, the role of uncertainty in markets, and the ambiguity in the signals from the FOMC statement.
This lesson creates a connection between derivatives and marginalism. Students engage in a set of scaffolding activities that explore the Marginal Cost Function, Marginal Revenue Function, and the implications that these functions have on production. A short video clip will provide example of why the intersection of Marginal Cost and Marginal Revenue yields maximum profit.
This lesson uses the latest employment and unemployment data release by the U.S. Department of Labor, Bureau of Labor Statistics, for the month of December, 2014, reported January 9, 2015. The lesson focuses on the problems in measuring unemployment and the definitions used by the Bureau of Labor Statistics.