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Resources from National Council on
Economic Education (VE4)
Lessons in new High School
Economics, 3rd Edition
Other Resources (Online)
Fundamental Concepts
Capstone, Unit 1 Lesson 4 - To
Choose or Not to Choose? That is Not Lesson 2: Allocating Scarce Resourc EconEdLink - College: Where am I
Going to Go?
the Question
Apply
reasoned
decision-making
techniques
in
making
choices;
explain
why
different
governments
9.2.1.1.1
Economics in Action, Lesson 2 faced with the same alternatives might make different choices.
Lesson 3: Marginalism
EconEdLink - Car Loan Project
Economic Decision Making
Identify the incentives and trade- offs related to a choice made by an individual, household,
9.2.3.3.1 organization or government; describe the opportunity cost of a choice; and analyze the
consequences of a choice (both intended and unintended).
Capstone, Unit 1 Lesson 1 - Economic
Lesson 1: Production Possibilities
Reasoning: Why Are We a Nation of
and Opportunity Costs
Couch Potatoes?
Focus: HIgh School Economics,
Lesson 1 - Choice, Opportunity Cost, Lesson 2: Allocating Scarce Resourc
and Decisions
St Louis Fed - Choices Are Everywhere:
Why Can’t We Just Have It All?
Seinfeld Economics - There's No Such
Thing As A Free Lunch (Video)
St Louis Fed - Unintended
Consequences
Old MacDonald to Uncle Sam, Lesson Lesson 1: Production Possibilities
5 - Scarcity and Choice
and Opportunity Costs
Capstone, Unit 1 Lesson 3 - Economic
Explain
how
the
availability
of
productive
resources
and
technology
limits
the
production
of
goods
9.2.3.4.1 and services.
Magic: Creating Something From
Lesson 8: Productivity
Nothing
St Louis Fed - Production Possibilities
St Louis Fed - Factors of Production –
The Economic Lowdown Podcast Series
St Louis Fed - The Role of Self-Interest
and Competition in a Market Economy –
The Economic Lowdown Podcast Series
St Louis Fed - Prices: The Marketplace’s
Communication System (Page One
Economics Classroom Edition)
EconEdLink - ECONOMY IN
TRANSITION: THE UKRAINE
Capstone, Unit 2 Lesson 6 - Why Did
Communism Collapse?
9.2.3.4.2 Compare and contrast the characteristics of traditional, command (planned), market-based
(capitalistic) and mixed economic systems.
Economies in Transition, Lesson 10 Market or Command: Which is Best for
the Environment?
Economies in Transition, Lesson 1 - A
Parking Lot Full of Incentives
Focus: High School Economics Lesson Lesson 28: Broad Social Goals of an Infusionomics - The Bead Game
2 - Broad Social Goals of an Economic
Economy
(Simulation Activity)
System
9.2.3.4.3 Define broad economic goals and describe the trade-offs that exist between them; evaluate how
different economic systems achieve these goals in theory and in practice.
Focus: Economic Systems Lesson 1 Broad Social Goals of Economic
Systems
EconEdLink - COMPARATIVE
ECONOMIC SYSTEMS
Economics in Action, Lesson 10 - The Lesson 16: The Circular Flows of
Circular Flow of Economic Activity
Econoland
Focus: High School Economics Lesson
16 - The Circular Flow(s)
St Louis Fed - Episode 6 – Circular Flow
– The Economic Lowdown Video Series
Describe the role of households, businesses and governments in the movement of resources,
9.2.4.5.1 goods and services, and money in an economy.
Focus: Institutions and Markets Lesson Lesson 16: The Circular Flows of
1 - Markets and the Market System
Econoland
Describe
the
role
of
markets
in
the
movement
of
resources,
goods
and
services,
and
money
in
an
Economics in Action, Lesson 10 - The
9.2.4.5.2 economy.
Circular Flow of Economic Activity
EconEdLink - To Buy or Not to Buy?
EconEdLink - Lebron James, the
Cavaliers, and Derived Demand
Supply and Demand
9.2.4.5.3 Explain that market demand is based on each buyer’s willingness and ability to pay and the
number of buyers in the market; analyze the effect of factors that can change demand.
Capstone, Unit 2 Lesson 8 - A Picture
is Worth a Thousand Words
Entrepreneurship in the U.S. Economy,
Lesson 10 - The Nature of Consumer
Demand
St Louis Fed - Demand – The Economic
Lowdown Podcast Series
EconEdLink - Marketplace: The Trouble
with Truffles
Capstone, Unit 2 Lesson 9 - A Picture
is Worth a Thousand Words
Explain that market supply is based on each seller’s cost and the number of sellers in the market; Master Curriculum Guide, Lesson 10 9.2.4.5.4 analyze the effect of factors that can change supply.
How Much Should I Produce?
9.2.4.5.5 Use demand and supply curves to explain how the equilibrium price and quantity in a market is
determined as buyers and sellers adjust their offers in response to shortages or surpluses.
Economics From Here to There,
Lesson 2 - The Candy Kids
Capstone, Unit 2 Lesson 10 Equilibrium Prices and Equilibrium
Quantities
Economics in Action, Lesson 7 - A
Market in Wheat
St Louis Fed - Episode 1 – Supply – The
Economic Lowdown Video Series
EconEdLink - Babysitter Shortage in
Washington, D.C.
Lesson 5: A Classroom Market for
Cocoa
Lesson 13: Who Decides Wage
Rates?
St Louis Fed - Oil Prices: Demand and
Supply
Explain how changes (shifts) in the demand and supply of an item result in changes in its market
9.2.4.5.6 price and quantity; explain how these shifts can lead to changes in prices and quantities in other
markets.
St Louis Fed - Higher Gasoline Prices:
AP Economics, Macroeconomics Unit Lesson 6: The Market Never Stands Temporary or Time to Buy a Hybrid?
1 Lesson 4 - Equilibrium Price and
Still
(Page One Economics Classroom
Quantity
Edition)
St Louis Fed - The Economics of
Capstone, Unit 2 Lesson 13 - How
Immigration: A Story of Substitutes and
Lesson
7:
How
Markets
Interact
Markets Allocate Resources
Complements (Page One Economics
Classroom Edition)
Market Structures & Role of Government
9.2.4.6.1 Compare and contrast characteristics of various market structures.
Explain the pricing, sales, advertising and other marketing strategies used to sell products from a
9.2.2.2.4 consumer perspective.
Capstone, Unit 4 Lesson 22 - How
Lesson 9: Perfect Competition
Competitive is the Industry?
Versus Monopoly
Entrepreneurship in the U.S. Economy,
Lesson 10: Game Theory - One Step
Lesson 27 - The Entrepreneur and
Ahead of the Competition
Market Structure
Focus: High School Economics,
Lesson 14 - When there isn't Pure
Competition
Focus: High School Economics,
Lesson 14 - When there isn't Pure
Competition
EconEdLink - Competition and Market
Structures (Video)
EconEdLink - Deceptive Advertising:
Crossing the Line
Frontline - The Persuaders (Nonprice
Competition Video)
Teaching the Ethical Foundations of
Economics, Lesson 3 - Do Markets
Need Ethical Standards?
Explain
the
impact
of
various
market
structures
on
long-run
profit,
price,
production,
and
efficiency
9.2.4.6.2 in the market.
Identify and analyze market failures caused by a lack of competition, lack of resource mobility
9.2.4.8.1 (barriers), and lack of perfect information; evaluate the rationale and effectiveness of government
attempts to remedy these problems.
EconEdLink Marketplace - Oil is a
Slippery Business
EconEdLink - Airline Mergers, Software
Industry Monopolies: Contestable
Markets?
Focus: Institutions and Markets,
Lesson 5 - Maintaining Competition
Lesson 11: Not-So-Private Goods
and Services
Lesson 12: Third-Party Costs and
Benefits
Stossel in the Classroom - Farm
Subsidies (Video)
EconEdLink - Guess Who's Coming to
Dinner
Capstone, Unit 5, Lesson 24 Government and the Environment
Lesson 11: Not-So-Private Goods
and Services
TED Talk: The Economic Case for
Preschool
St Louis Fed - The Economics of
Immigration: A Story of Substitutes and
Complements (Page One Economics
Classroom Edition)
Focus: Understanding Economics in
Identify and analyze market failures caused by poorly-defined or poorly- enforced property rights,
9.2.4.8.2 externalities, and public goods; evaluate the rationale and effectiveness of government attempts to Civics and Government, Lesson 9 The Market Goes to Court
remedy these problems.
Focus: Institutions and Markets,
Lesson 7 - Public Goods and
Externalities
Lesson 12: Third-Party Costs and
Benefits
Lesson 15: Public Choice Economics EconEdLink - Green Eggs
and...Economics?
Human Capital & Personal Finance
9.2.2.2.1
Establish financial goals; make a financial plan considering budgeting and asset building to meet
those goals; and determine ways to track the success of the plan.
Capstone, Unit 3 Lesson 17 - Creating
and Using a Budget
St Louis Fed - Tools for Teaching the
Arkansas Economics and Personal
Finance Course
Personal Decision Making: Focus on
Economics, Lesson 6 - Financial
Planning: Budgeting Your Financial
Resources
St Louis Fed - Wait, Is Saving Good or
Bad? The Paradox of Thrift (Page One
Economics Classroom Edition)
Learning, Earning and Investing,
Lesson 2, Investors and Investments
Personal Decision Making: Focus on
9.2.2.2.2 Evaluate investment options using criteria such as risk, return, liquidity and time horizon; evaluate Economics, Lesson14 - Savings and
and apply risk management strategies in investing and insuring decisions.
Personal Investments
Learning, Earning and Investing,
Lesson 14 - Credit: Your Best Friend
Evaluate the benefits and costs of credit; describe the “three C’s” of credit (character, capacity and or your Worst Enemy?
9.2.2.2.3 collateral) and explain how these attributes can affect one's ability to borrow, rent, get a job and
Your Credit Counts, Section 3 achieve other financial goals.
Managing Credit
Capstone, Unit 3 Lesson 18 - Credit
Management
Explain
the
role
of
productivity,
human
capital,
unions,
demographics
and
government
policies
in
Capstone, Unit 3 Lesson 15 - Why Do Lesson 13: Who Decides Wage
9.2.4.7.1 determining wage rates and income in labor markets.
Some People Earn More than Others? Rates?
Best Prep - Stock Market Game
St. Louis Fed - Diversification and Risk
Activity
Get Rich Slowly - Anatomy of a Credit
Score
St Louis Fed - Barbie in the Labor Force
9.2.4.7.2 Explain the role of financial institutions and credit markets in the acquisition of capital.
Focus: High School Economics,
Lesson 8 - Getting More or Using Less
Personal Decision Making, Lesson 4 A Student's Potential in the Labor
Market
Learning, Earning and Investing,
Lesson 11 - Financial Institutions in the
U.S. Economy
Financial Fitness for Life, Theme 3:
Lesson 9 - Banking Basics
St Louis Fed - FRED in the Classroom:
Employment and the Labor Force
St. Louis Fed - The Labor Market (Video)
St Louis Fed - Crowding Out
Measuring & Managing the Economy
Focus: Institutions and Markets,
Lesson 9 - The Distribution of Income Lesson 14: Income Distribution
and Investments in Human Capital
Identify measures of income distribution, wealth distribution and poverty and explain how these
9.2.4.8.3 affect, and are affected by, the economy; evaluate the effectiveness of, and incentives created by, Capstone, Unit 5, Lesson 30 - Poverty
government income redistribution programs.
and Income Inequality
Focus: High School Economics Lesson
10 - Rich Man, Poor Man...
Capstone, Unit 6 Lesson 38 Aggregate Demand and Aggregate
Supply
9.2.5.10.2 Use a short-run aggregate demand and aggregate supply model to describe changes in output,
Focus: High School Economics Lesson
employment and the price level.
20 - Aggregate Supply and Demand
St Louis Fed - Gini in a Bottle: Some
Facts on Income Inequality (Page One
Economics Classroom Edition)
St Louis Fed - Income Inequality: It’s Not
So Bad
Capstone Unit 6, Lesson 35 - Fiscal
Lesson 21: Fiscal Policy - The
Policy: A Two-Act Play
Multiplier Effect
Focus:
Understanding
Civics
in
9.2.5.11.1 Explain how various government fiscal policies are likely to impact overall output, employment and Economics and Government, Lesson 5 Lesson 24: The Fed's Toolbox
the price level.
- Government Spending
St Louis Fed - FRED in the Classroom:
Debt and Deficit
how various monetary policies of the Federal Reserve are implemented; explain how
9.2.5.11.2 Describe
they are likely to impact overall output, employment, and the price level.
Capstone Unit 6, Lesson 34 - Money
and Monetary Policy
Focus: High School Economics,
Lesson 19 - Money, Interest, and
Monetary Policy
EconEdLink - Phillips Curve
St Louis Fed - Government Spending
and Taxes
Lesson 22: The Case of the Gigantic Council for Economic Education - Money
$100,000 Bill
Creation Online Simulation Activity
Monetary Policy: A Quick & Dirty
Explainer (YouTube Video)
St Louis Fed - Currency and the Fed
Capstone Unit 6, Lesson 37 - Can
9.2.5.11.3 Explain fiscal and monetary policies from various perspectives; provide arguments from one’s own Government Manage the National
perspective, supported by analysis, for a policy change that should be adopted.
Economy?
Capstone Unit 6, Lesson 36 - Should
We Worry About the National Debt?
Focus: High School Economics,
Lesson 21 - Economic Growth and
Lesson 8: Productivity
Measure economic growth in terms of percentage changes in real Gross Domestic Product over
Development
9.2.5.9.1 time; analyze past and recent data to identify factors that promote or impair long-run economic
Focus: High School Economics,
growth and its sustainability.
Lesson 18 - Economic Ups and Downs
Economies in Transition: Command to
Lesson 17: Inflation
Market, Lesson 4 - Klips and Kupons
9.2.5.9.2 Measure inflation in terms of a percentage change in a price index; analyze past and recent data
to explain how the money supply is related to long-run inflation with the equation of exchange.
Economics in Action, Lesson 11 Money and Inflation
Lesson 19: Economic Growth
Capstone, Unit 6, Lesson 31 Measuring Unemployment: A Labor
Lesson 18: Unemployment Survey
Measure full employment in terms of the unemployment rate and various types of unemployment; Market Mystery
9.2.5.9.3 analyze past and recent data to describe factors that impact the long-run growth of jobs in an
Focus: Economic Systems, Lesson 9 economy.
The Mysteries of Unemployment
the impact of at least two United States Supreme Court decisions on the United States
9.2.5.11.4 Evaluate
economy.
Focus: Understanding Economics in
Civics and Government, Lesson 9 The Market Goes to Court: Key
Economic Cases and the United
States Supreme Court
St Louis Fed - Constitutionality of a
Central Bank
St Louis Fed - Fiscal and Monetary
Policy in Times of Crisis (Page One
Economics Classroom Edition)
St Louis Fed - GDP: Does It Measure
Up? (Page One Economics Classroom
Edition)
St Louis Fed - Deflation: Who Let the Air
Out? (Page One Economics Classroom
Edition)
St Louis Fed - Making Sense of the Ups
and Downs of Prices (Page One
Economics Classroom Edition)
A Bug's Life (Movie)
EconEdLink - Marketplace: School
Competition
The Global Economy
Focus: Globalization, Lesson 11 Lesson 25: Trade - Why Do People
Limiting Trade- Who Gains, Who
Trade?
Loses?
Apply the principles of absolute and comparative advantage to explain the increase in world
Capstone,
Unit
7,
Lesson
41
Why
9.2.5.12.1 production due to specialization and trade; identify the groups that benefit and lose with free-trade
Lesson 26: Comparative Advantage
People Trade: Comparative Advantage
treaties, trading blocs and trade barriers.
St. Louis Fed - Crossing Borders: The
Globalization Debate
St. Louis Fed - Comparative Advantage
SMART Presentation Activity
St Louis Fed - The Global Economy: It’s
Lesson 27: Where to Build a Factory a Small World After All (Page One
Economics Classroom Edition)
Describe commodities as natural resources necessary to produce goods and services; explain
9.2.4.7.3 how world events and market speculation can affect commodity and other prices.
Focus: International Economics,
Lesson 10 - What Happens When
Imports are Banned?
Capstone, Unit 7 Lesson 42 - Foreign
Currencies and Foreign Exchange
Economics in Action, Lesson 14 Explain
how
the
demand
and
supply
of
currencies
determines
exchange
rates
and,
in
turn,
affects
9.2.5.12.2 trade.
Exchange Rates: Money Around the
World
St. Louis Fed - Inside the Vault: Oil!
Lesson 25: Trade - Why Do People
Trade?
EconEdLink - The Family Vacation
Lesson 26: Comparative Advantage
EconEdLink - Exchange Rates and
Exchange: How Money Affects Trade
Lesson 27: Where to Build a Factory