Unit 1: Lesson 1 - Economic Reasoning: Why Are We A Nation of Couch Potatoes?

Students examine visuals to identify an economic mystery regarding exercise and diet. They use the Guide to Economic Reasoning to analyze the costs and benefits of decisions about diet and exercise. They discover that human behavior is influenced by choices, costs, incentives, rules, voluntary exchange, and future consequences, even in decisions about diet and exercise.

Concepts:

• Choice
• Economic Systems
• Incentive
• Opportunity Cost
• Future Consequences
• Voluntary Trade

• Standard #1: Scarcity
• Standard #2: Decision Making
• Standard #3: Allocation
• Standard #4: Incentives
• Standard #5: Trade

Unit 3: Lesson 15 - Why Do Some People Earn More Than Others?

Students examine and discuss visuals to identify an economic mystery regarding differences in income. They use the Guide to Economic Reasoning to analyze the problem and reach a tentative solution.

Concepts:

• Choice
• Incentive
• Opportunity Cost
• Human Capital
• Future Consequences
• Voluntary Trade

• Standard #2: Decision Making
• Standard #3: Allocation
• Standard #4: Incentives
• Standard #5: Trade
• Standard #13: Income
• Standard #15: Economic Growth

Unit 4: Lesson 20 - Why Helping Yourself Helps Others

Students examine and discuss visuals to identify an economic mystery regarding greed and self-interest. They use economic reasoning to analyze the mystery and reach a tentative explanation.

Concepts:

• Choice
• Competition
• Incentive
• Opportunity Cost
• Market Economy
• Future Consequences
• Voluntary Trade

• Standard #2: Decision Making
• Standard #3: Allocation
• Standard #4: Incentives
• Standard #8: Role of Prices
• Standard #9: Competition and Market Structure
• Standard #15: Economic Growth

Unit 5: Lesson 24 - Government and the Environment

Students examine and discuss visuals to identify an economic mystery regarding the failure of the Endangered Species Act. They are introduced to the concepts of market failure and government failure. Using the Guide to Economic Reasoning, they focus on positive and negative externalities in analyzing the Endangered Species Act as an example of government failure.

Concepts:

• Choice
• Externalities
• Incentive
• Opportunity Cost
• Future Consequences
• Government Failure
• Voluntary Trade

• Standard #1: Scarcity
• Standard #2: Decision Making
• Standard #3: Allocation
• Standard #4: Incentives
• Standard #5: Trade
• Standard #16: Role of Government and Market Failure
• Standard #17: Government Failure

Unit 7: Lesson 39 - Why Go Global?

Students examine an economic mystery regarding the importance of U.S. participation in the global economy. They participate in a demonstration regarding imported clothing. They use the Guide to Economic Reasoning to explain that, while exports and imports may be a relatively small part of the U.S. economy, international trade benefits the United States and its trade partners.

Concepts:

• Choice
• Incentive
• Opportunity Cost
• Future Consequences
• Voluntary Trade

• Standard #6: Specialization