1) Economics and Citizen Education
2) Economic Education in Russia and Eastern Europe
3) Consideration of the importance of the global economy
4) Content Standards
5) Use of Computer Technology in economic education
Approaches to Teach Economics
- Activities enhance citizenship understanding and skills
- Activities provide opportunities for manipulating data and using concrete examples
- Activities are formally planned but informal opportunities are used to analyze and review concepts as they arise in the news and classroom
- Activities link children's own experiences
- Activities link to the school district's curriculum
5 Principles of Teaching Economics
1) Meaningful- Students can bring items to class, and identify them as either a want or need
2) Integrative- When talking about where an item was produced, teachers can incorporate geography by having students research the country
3) Value-based- Teaching the benefits of good economy
4) Challenging- Role play as producers, sellers, and consumers by making the classroom a store and having students make, sell, and buy items using change
5) Active- Students learn the concepts and importance of money by using pennies, nickels, dimes, quarters, and dollars
Fundamental Concepts of Teaching Economics
- Scarcity
- Opportunity Costs and Trade offs
- Productivity
- Economic Systems
- Economic institutions and incentives
- Exchange, money, and interdependence
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