Submitted By: Michael Ryan Moore, University of Pennsylvania, GSE
Date: June 9, 2011
Subject(s): Economics, Personal Finance
Lesson or Unit(s): Intro to Econ 2: Four Lessons on Scarcity, Utility and Choice
Grade Level(s): 9, 10, 11, 12
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 Article:
Lesson Plan Details:
Dumb question, is there any answer sheets (lesson keys)?