eco lessons from the newly developing u.s
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Eco Lessons From the Newly Developing U.S.
Laura EwingPresident/CEO
Texas Council on Economic Educationwww.economicstexas.org
www.smartertexas.org Laura@economicstexas.org
713-655-1650
This workshop and the accompanying materials are made available to teachers through the generous support of State Farm and the Council for Economic Education.
COUNCIL FOR ECONOMIC EDUCATION NATIONAL CONFERENCE
October 9-11, 2014 Big Dallas Renaissance Hotel Registration covers
most meals Plan now to attend
and ask for Oct. 10 to be staff development day
TCEE Opportunities
Trainings for Math teachers on PFL in Austin
Financial Fitness for Life Study
Economics Challenge Fall and Spring Online Testing In
Micro, Macro and International Economics
Adam Smith Division 2nd place national champs
Bellaire HS 2010/3rd 2012
David Ricardo Division 3rd place national champs Plano HS 2010/4th place 2012
State competition in Austin
Personal Financial Literacy Challenge
Middle and High School
Fall and spring online challenges will determine state finalist candidates
“State Play-Offs” in Austin with cash awards for two top teams
HS national finals at Fed in St. Louis
Bellaire HS Houston 2nd in nation 2012
10 week Student Session
• 10 Week Student Session Fall and SpringPrizes for Regional WinnersTeams of 4 to 5 students
• Teaches math, investments, • decision-making
www/economicstexas/org How Do You Get These Materials?
www.economicstexas.org
Select either Browse
Economics Concepts
Or Browse
Economics Lessons
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Selected lesson
Your state council on economic education or local center for economic education director has indicated you as someone who has recently attended a training on the use of one of our materials. As such, we would like to know about your experience with both our training and our product. Please take the time to fill out the following survey. 1. Overall, how effective will this publication be in helping you plan instruction?
(1 = Useless, 3 = Somewhat Effective, 5 = Very Effective)1 2 3 45
To Receive VE4.0, Please Complete and Turn In-
1. A Registration form with the date, location and title of the workshop written in at the top of the form.
2. 2 evaluation forms with the date, location and title of the workshop written in at the top of the form. The evaluation begins with…
What Role Does Geography Play In…
•1. how Texans make a living•2. where people settle
What are the factors of production?
•1. Land •2. Labor•3. Capital•4. Entrepreneurship
Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)www.economicstexas.org Laura@economicstexas.org713-655-1650
How can you make math, CT and social
studies hands-on and relevant while
teaching critical thinking skills?
Texas Essential Knowledge and SkillsEconomics and Play Dough EconomicsDescribe how the free
enterprise system works
Lesson 12:Market Price II
Market Price: Changes in Supply and Demand
Concepts of the USFree Enterprise
Economic System•How do changes in demand affect market price?
•How does the market price guide what producers or suppliers produce?
Concepts of the Texas/USFree Enterprise
Economic System•Why must costs be subtracted from revenues to determine profits?
•How can certain events cause costs to change, which can affect profits?
Market Price Focus
1. What is meant by demand?2. What are three things you demand
economically?3. How much will you pay for them?4. What determines if you demand/buy
them?
Market Price Competition
1. We will divide into factories with 4 to 6 workers in each factory.
2. Choose a production manager.3. Choose an accountant
Production Rounds
1. There will be 3 rounds of 5 minutes each.2. You will produce any amount, but at least
one of the apple, hammer, shirt and cup/saucer in 2 inch dimensions.
3. Each product must have 2 colors.
Production Rounds
1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many
as possible.
Get Your Play Dough
Production Rounds
1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many
as possible.
Time IS UP!
1. Count the quantity produced of each product.2. Record the quantities on the “Revenues
Worksheet”3. We will do a class total.4. We will draw a demand card.5. We will determine prices and factory earnings.
Supply, Demand and Market Price Chart
Goods Supplied by Class
Resulting Market
Price With NO
Change in Demand
Resulting Market
Price with Decrease
in Demand
Resulting Market
Price with Increase in
Demand
0-8 $10 $8 $13
9-12 $7 $5 $10
13-16 $5 $3 $7
17-20 $3.50 $2 $4
Over 20 $2 $1 $3
Between The Rounds1. Tally your round one results2. Plan your production strategy for
round 2.3. The production manager has the final
authority on what to produce.
Get Your Play Dough
Production Rounds
1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many
as possible.
Time IS UP!
1. Count the quantity produced of each product.2. Record the quantities on the “Revenues
Worksheet.3. We will do a class total.4. We will draw a demand card.5. We will determine prices and factory earnings.
Supply, Demand and Market Price Chart
Goods Supplied by Class
Resulting Market
Price With NO
Change in Demand
Resulting Market
Price with Decrease
in Demand
Resulting Market
Price with Increase in
Demand
0-8 $10 $8 $13
9-12 $7 $5 $10
13-16 $5 $3 $7
17-20 $3.50 $2 $4
Over 20 $2 $1 $3
Process1. What patterns do you see in the Supply,
Demand, and Market Price Chart?2. In a market, what two things are needed
for a price to be determined?3. What caused price to change?
More Process4. How did price influence
your production decisions?
5. How did other groups influence your strategy and plans?
Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)www.economicstexas.org Laura@economicstexas.org713-655-1650
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