Overview:
This lesson provides a brief introduction to formal economic theory. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will role play as small business owners in charge of a cupcake store. Students will make choices about location, inventory, equipment and sales. Throughout the lesson, students will think about economics as the study of choice under scarcity.
NBEA Standard(s):
- Economics, I. Allocation of Resources
- Personal Finance, I. Personal Decision Making
Knowledge@Wharton High School Articles:
- “Why Germany Is the Driving Force in the Eurozone”
- “The Migration Crisis and the Future for the European Union”
- “The Economics of the Refugee Crisis: Paying Off Debts and Launching Startups”
- “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur”
- “March 2018 Educator Toolkit: Energy Economics”
- “Insights from the Fall of Aleppo”
- “Inside the Bee Economy”
- “Immigration Reform in America: The People, the Proposals and the Economics”
- “GDP: The Rock Star of Economic Indicators”
- “Exploring the Economics of Everyday Life”
- “5 Things You Should Know About a British Exit from the European Union”
Lesson Plan Details:
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