Submitted By:Michael Ryan Moore, University of Pennsylvania, GSE
Date:October 25, 2011
Subject(s):Economics, Personal Finance
Grade Level(s):9, 10, 11, 12
This lesson extends the concepts of opportunity cost and risk by introducing students to expected value. Using the article “Using Scenario Planning as a Weapon Against Uncertainty?” students will think about managing uncertainty in the decision-making process. In particular, students will think about strategic “scenario planning,” and weighing the value of multiple outcomes.