This is a short description of the differences in business between cost and price, as well as consumer and business customer. These terms are often confused.
Looking for engaging content for your economics courses? The Institute for Humane Studies has curated this collection of educational resources to help economics professors enrich their curriculum. Find videos, interactive games, reading lists, and more on everything from opportunity costs to trade policy. This collection is updated frequently with new content, so watch this space!
This lesson plan is for an accelerated, academically gifted 4/5th grade combination class. The unit of study is economics (Social Sciences). The SCoS goals and objectives cross grade levels and curriculum areas because of the nature of the children for whom this lesson was designed. This lesson was designed as a supplemental lesson for a unit I taught called Mini-Society. I taught this unit for the first time this year after attending a workshop at Chapel Hill, NC. This lesson enhances the Mini-Society unit in which children create their own businesses.
In this activity, students are going to practice asking for the cost of something and practice purchasing items. Students are also going to be exposed to the concept of bartering and how to do it with a vendor.
Introduction to Energy and Earth Sciences is an introduction to microeconomic fundamentals with a focus on the applications of economics to energy and environmental markets. We will introduce the economic method of analysis to the environmental and resource questions facing society. We will learn about the market forces, supply and demand and how they are formed from two concepts of law of Diminishing Returns and Diminishing Marginal Utility. We extend our knowledge by exploring factors such as market dynamics and market equilibrium, government intervention and market power. At the end we will apply these concepts to real life examples and address Climate Change and Carbon Policy, Resource Scarcity and Energy Security, and Changes in the Electricity Business.
This course introduces the role of marketing in business and other organizations. Basic theory and terminology are examined with emphasis on the major components of marketing: product, price, promotion, and distribution.
This 6 minute video will examine how business firms maximize profit in a competitive market and their role in setting prices for their good / service. This video will enforce the standard EPF. 2 (e) and (h)
In this activity, students will practice talking about the prices of various objects that can be found at various stores. Students will also talk about the location of these items.
In this activity, students will practice identifying where they can buy certain items. Students will also work on asking a partner what their likes are and use these characteristics to come up with a potential gift for them. Students will learn how to identify preferences, express opinions about items and seek places to purchase items as well.
In this activity, students will go shopping at different grocery stores in search of the best prices for their foods. Students will use vocabulary involving food, money, and numbers. They will also learn about culture through use of discussing grocery stores. Students will also learn how to ask and answer questions about shopping and selling.
what is marketing? 4 ps of marketing
Putting Math to Work
Type of Unit: Problem Solving
Prior Knowledge
Students should be able to:
Solve problems with rational numbers using all four operations.
Write ratios and rates.
Use a rate table to solve problems.
Write and solve proportions.
Use multiple representations (e.g., tables, graphs, and equations) to display data.
Identify the variables in a problem situation (i.e., dependent and independent variables).
Write formulas to show the relationship between two variables, and use these formulas to solve for a problem situation.
Draw and interpret graphs that show the relationship between two variables.
Describe graphs that show proportional relationships, and use these graphs to make predictions.
Interpret word problems, and organize information.
Graph in all quadrants of the coordinate plane.
Lesson Flow
As a class, students use problem-solving steps to work through a problem about lightning. In the next lesson, they use the same problem-solving steps to solve a similar problem about lightning. The lightning problems use both rational numbers and rates. Students then choose a topic for a math project. Next, they solve two problems about gummy bears using the problem-solving steps. They then have 3 days of Gallery problems to test their problem-solving skills solo or with a partner. Encourage students to work on at least one problem individually so they can better prepare for a testing situation. The unit ends with project presentations and a short unit test.
During this two-day lesson, students work with a partner to create and implement a problem-solving plan based on the mathematical concepts of rates, ratios, and proportionality. Students analyze the relationship between different-sized gummy bears to solve problems involving size and price.Key ConceptsThroughout this unit, students are encouraged to apply the mathematical concepts they have learned over the course of this year to new settings. Help students develop and refine these problem-solving skills:Creating a problem solving plan and implementing their plan systematicallyPersevering through challenging problems to find solutionsRecalling prior knowledge and applying that knowledge to new situationsMaking connections between previous learning and real-world problemsCommunicating their approaches with precision and articulating why their strategies and solutions are reasonableCreating efficacy and confidence in solving challenging problems in a real worldGoals and Learning ObjectivesCreate and implement a problem-solving plan.Organize and interpret data presented in a problem situation.Analyze the relationship between two variables.Use ratios.Write and solve proportions.Create rate tables to organize data and make predictions.Use multiple representations—including tables, graphs, and equations—to organize and communicate data.Articulate strategies, thought processes, and approaches to solving a problem, and defend why the solution is reasonable.
During this two-day lesson, students work with a partner to create and implement a problem-solving plan based on the mathematical concepts of rates, ratios, and proportionality. Students analyze the relationship between different-sized gummy bears to solve problems involving size and price.Key ConceptsThroughout this unit, students are encouraged to apply the mathematical concepts they have learned over the course of this year to new settings. Helping students develop and refine these problem solving skills:Creating a problem solving plan and implementing their plan systematicallyPersevering through challenging problems to find solutionsRecalling prior knowledge and applying that knowledge to new situationsMaking connections between previous learning and real-world problemsCommunicating their approaches with precision and articulating why their strategies and solutions are reasonableCreating efficacy and confidence in solving challenging problems in a real worldGoals and Learning ObjectivesCreate and implement a problem-solving plan.Organize and interpret data presented in a problem situation.Analyze the relationship between two variables.Use ratios.Write and solve proportions.Create rate tables to organize data and make predictionsUse multiple representations—including tables, graphs, and equations—to organize and communicate data.Articulate strategies, thought processes, and approaches to solving a problem and defend why the solution is reasonable.
Lecture Objective: Introduce students to the price system - how markets connect to one another and form a sophisticated global network that is constantly adjusting based on price signals. We use a Valentine’s Day analogy to illustrate key points.
The lesson incorporates a few MRU videos from MRU's Principles of Microeconomics video course. We also mix in discussion prompts, exercises, practice questions, and pre- and post-class assignments. Finally, we provide supplementary resources such as additional data sources, relevant news articles and blog posts, and an episode of Planet Money.
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Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.
Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.
This interactive and collaborative activity asks students to first react to price changes and then analyze the results. Instructors can upload the materials to their own Google drives and run the experiment repeatedly to generate new data and demonstrate trends. This resource was developed by Birjees Ashraf, Sophie Haci, Renee Edwards, and Charles Hackner.
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
By the end of this section, you will be able to:Calculate and graph budget constraintsExplain opportunity sets and opportunity costsEvaluate the law of diminishing marginal utilityExplain how marginal analysis and utility influence choices