Favorite Ways to Explore Economics (High School)

by Chasey, James; Anderson, David A.

• ISBN13: 9781464146381
• ISBN10: 1464146381
• Format: Paperback
• Copyright: 2013-02-08
• Publisher: Worth Publishers

Summary

Favorite Ways to Explore Economics brings economics to life through structured experiments that students perform in groups and individually.  Problem sets and active learning exercises are correlated to chapters and modules in Explorations in Economics to ensure your students have many opportunities to discover how relevant, engaging, and fun economics can be!

Table of Contents

Chapter 1 An Introduction to the Economic Way of Thinking
Classroom Experiments 
1.A Economics is All Around Us: Hot Dog Vendors on the Beach 
1.B Production Possibilities Frontier Experiment: Links and Smiles 
Problem Sets
1.1 Allocating Resources      
1.2 Calculating Opportunity Cost     
1.3 Marginal Analysis      
1.4 Production Possibility Curves     
1.5 Shifting Production Possibility Curves    
1.6 Three Economic Systems     
1.7 Marginal Utility Problem     

 

Chapter 2 Supply, Demand, and Efficiency    
Classroom Experiments
2.A Buying and Selling Snipes in the Pit Market   
2.B Penning Supply and Demand Curves    
Problem Sets
2.1 Graphing Supply and Demand     
2.2 Shifting Demand Curves     
2.3 Shifting Supply Curves      
2.4 Shifting Supply and Demand     
2.5 Calculating Elasticity      
2.6 Elasticity       
2.7 Yuppie Scum Bumper Stickers     
2.8  A Parking Lot Problem      
2.9 Here Is a Message for Us     
2.10 You Don’t Have to Be Old to Be a Classic   
2.11 Price Floor       
2.12 Price Ceiling       
2.13 Consumer and Producer Surplus     
2.14 The Cost of Taxation      
2.15 Efficiency and Deadweight Loss     
2.16 Elasticity and Deadweight Loss     
2.17 Consumer Surplus      
2.18 Producer Surplus      

 

Chapter 3 Consumer Choice      
Classroom Experiments
3.A Experimenting With Marginal Utility: Popcorn and Soda-Pop 
3.B Indifference Curve Experiment: Are You Sure?   
Problem Sets
3.1 Budget Lines       
3.2 Indifference Curves      
3.3 Budget Lines, Indifference Curves, and Consumer Satisfaction 
3.4 Utility Maximization      
3.5 Budget Lines, Indifference Curves, and Demand Curves  
 
 
Chapter 4 Production Costs and Perfect Competition   
Classroom Experiments
4.A Diminishing Marginal Product Experiment: The Econville Link Factory    
4.B Learning Graphs the Fun Way: Blind Curve   
Problem Sets
4.1 The Fixed, Variable, and Total Cost of Production  
4.2 The Average and Marginal Cost of Production   
4.3 Daphne’s Apparel Shop 1     
4.4 Daphne’s Apparel Shop 2     
4.5 Daphne’s Apparel Shop 3     
4.6 Daphne’s Apparel Shop 4     
4.7 Daphne’s Apparel Shop 5     
4.8 Daphne’s Apparel Shop 6     
4.9 Cost Curves – The Un-University    
4.10 Perfect Competition Consultants     
4.11 Perfectly Competitive Markets and Firms   
4.12 Perfect Competition: Reading the Graphs   

 

Chapter 5 Imperfect Competition      
Classroom Experiments
5.A Game Theory and the Prisoners’ Oligopoly   
5.B A Cartel Growing Bananas     
5.C A Monopoly Marking Dough     
Problem Sets
5.1 Daphne’s Apparel Shop as a Monopoly    
5.2 Monopoly Consultant      
5.3 Monopoly       
5.4 Total Revenue, Marginal Revenue, and Average Revenue 
5.5 Marginal Revenue and Elasticity    
5.6 Game Theory       
5.7 Game Theory: Dominant Strategy Determination  
5.8 Monopolistic Competition     
5.9 Changing Variable Cost and Fixed Cost    

 

Chapter 6 Factor Markets       
Classroom Experiments
6.A  Deriving the Labor Supply Curve: Put Your Hands Up  
6.B  Learning from Teaching: The Anti-REM Game   
Problem Sets
6.1 Total Product and Marginal Product    
6.2 More on Marginal Product     
6.3 Derived Demand      
6.4 Changing Marginal Physical Product and Product Price  
6.5  The Optimum Resource Mix     
6.6 The Unemployment Rate and the Minimum Wage  

Chapter 7 The Public Sector and Market Failure    
Classroom Experiments
7.A Free Rider Experiment: Show Me the Money   
7.B Externality Experiment: The Ecomedy Club    
7.C Tragedy of the Commons Experiment: Where the Moose Roam 
Problem Sets
7.1 Tax Incidence       
7.2 Progressivity       
7.3 Classifying Taxes      
7.4 Positive Externalities      
7.5 Negative Externalities      
7.6 Congested Parks – A Pricing Dilemma    

 

Chapter 8 Macroeconomic Indicators, Deficits, and Debt   
Classroom Experiments
8.A COLAs and Living Burger-to-Burger on Route 66  
8.B Budgetary Woes: A Balancing Act    
Problem Sets      
8.1  The consumer Price Index     
8.2 Inflation       
8.3 Benchmarking Inflation      
8.4 Gross Domestic Product      
8.5 Economic Growth      
8.6 Calculating the Unemployment Rate    
8.7 Types of Unemployment     
8.8 The Natural Rate of Unemployment    
8.9 Real vs. Nominal Values     
8.10 The Misery Index      
8.11 The Phillips Curve      

 

Chapter 9 Monetary and Fiscal Policy     
Classroom Experiments
9.A Anticipating Policy: Signs of the Times    
9.B Outguessing the Fed (among others): Internet Stock Market Games   
Problem Sets   
9.1 Fiscal Policy       
9.2 Monetary Policy      
9.3 Fiscal Policy and Monetary Policy    
9.4 Aggregate Supply and Demand Application Problem A  
9.5 Aggregate Supply and Demand Application Problem B  

 

Chapter 10 Money and Banking      
Classroom Experiments 
10.A Money Creation Experiment: Banks and Borrowers  
10.B Barter vs. Money: Appreciating the Dollar   
Problem Sets       
10.1 Bank Expansion of Demand Deposits    
10.2 The Reserve Requirement and the Money Multiplier  
10.3 Money Market       
 

Chapter 11 Aggregate Supply, Aggregate Demand, and Aggregate Expenditure  
Classroom Experiments
11.A  Getting into the (Circular) Flow of Things   
11.B Experimenting with the Marginal Propensity of Consume: Easy Come, Easy Go
Problem Sets
11.1 Monetary Policy and the Aggregate Supply/Aggregate Demand Model 
11.2 Monetary Policy and the Aggregate Expenditure Model  
11.3 The Aggregate Expenditure Model    
11.4 Aggregate Supply and Aggregate Demand   
11.5 Inflationary and Recessionary Gaps    
11.6 Balanced Budget Multiplier     

 

Chapter 12 International Economics     
Classroom Experiments
12.A The Benefits from Trade: Utility Gains from a Lunch Sack 
12.B Comparative Advantage Experiment: To Everyone’s Advantage 

Problem Sets     
12.1 Exchange Rates       
12.2 Contractionary Fiscal Policy, Interest Rates, and Net Exports 
12.3 Expansionary Fiscal Policy, Interest Rates, and Net Exports 
12.4 Contractionary Monetary Policy, Interest Rates, and Net Exports    
12.5 Expansionary Monetary Policy, Interest Rates, and Net Exports    
12.6 Comparative and Absolute Advantage