Econ Bundle: Decision Making, Economic Incentives, & Scarcity Island Simulation

Part 1: Decision Making: How Scarcity, Choice and Opportunity Cost Affect Economic Decisions

This Google Slides Lesson and Student Guided Note Packet Combo help your students to understand the Decision Making process in Economics.  Using real world examples students will be able to explain how scarcity, choice, and opportunity costs affect decisions that households, businesses, and governments make in the marketplace.

Google Slides Lesson includes:

*Anticipatory Set

*I can Statements

*Think-Pair-Share activities

*Formative Assessments

*Exit Slips

*Presenter notes to help guide teacher through the lesson

Student Guided Note Packet includes:

*Vocabulary Cards (with space to illustrate, write the definition in their own words and use the word in a sentence)

*Anticipatory Set Warm up activity

*Guided Note Sheets to follow along with the Google Slides Presentation

*Cost/Benefit analysis real world scenario

*Comparative advantage real world trade scenario

*Exit slip

Part 2: Economic Incentives: How to Encourage or Discourage behavior

This product includes:

1. Google Slides presentation with

• Speaker notes to guide the teacher through the lesson
• Lesson Warm-up
• Opportunities for students to share thoughts in partner/small groups
• Opportunities for whole class discussions

2. Corresponding student note sheet with

• Guided student notes that follow along with the Google Slides presentation
• Space for the warm-up
• Exit ticket for student self-reflection and teacher's check for understanding/needed remediation

This lesson provides a great opportunity for students to engage with the content and discuss their ideas and understandings in small group and large group settings!

Michigan Content Standards:

E1 The Market Economy: 1.1.1; 1.3.2

C3 Framework Standards:

D2.Eco.1.9-12. A

Part 3: Scarcity Island: A simulation in Visualizing Scarcity

This activity is a great way to begin a unit on scarcity and to build up anticipation about the topic! Students will collaborate with group members to make decisions about how to overcome challenges on a new reality TV Game Show called "Scarcity Island"! Will they chose the right items to win the challenge or will they be stuck trying to win a challenge with a ridiculous item!? Students will learn about the concept of scarcity without even realizing it while participating in an exciting classroom simulation!

Thorough teacher directions included!

All materials included (with link to a Google Slides presentation for optional use)

• Teacher directions + Guide
• Group note sheet with charts to help track supplies
• Challenge Cards (and optional Google Slides presentation)
• Independent Exit Ticket with Student Self Reflection