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Economics is a social science that studies the production, distribution, and consumption of goods and services. It aims to explain how economies work and how economic agents interact.

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Macroeconomics

Unit 1: basic economics concepts, unit 2: economic indicators and the business cycle, unit 3: national income and price determination, unit 4: financial sector, unit 5: long-run consequences of stabilization policies, unit 6: open economy: international trade and finance, unit 7: keynesian approaches and is-lm, unit 8: contemporary macroeconomic issues.

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Frequently asked questions about economics, what is economics and why is it important to study ‎.

Because we hear about "the economy" in the news so often, many people have the misconception that economics is simply the study of business or making money. While this can be close to the truth in some cases, economics more broadly is a study of making decisions under conditions of scarcity, whether in terms of limited time, money, or other resources. Economics encompasses everything from the microeconomics of a personal decision about grocery shopping to the macroeconomics concepts used to describe the aggregated decision-making of entire populations.

Indeed, economics has many useful concepts that we can use to better understand how we approach various decisions in our daily lives, regardless of whether money is involved. The concept of "opportunity cost" describes the lost gains from one alternative that we sacrifice when we choose another; for example, if you decide to major in economics, one opportunity cost is losing the ability to major in engineering instead.

Of course, the ability of economics to explain and predict decision-making is particularly powerful in the realm of business. The concept of "competitive advantage," for example, guides companies to focus their business on products and services that they can provide either at a lower cost or with a higher value than their competitors. This is still a core concept for entrepreneurs, who must clearly define their competitive advantage as well as their strategy for preserving it to raise funding from venture capital or other investors.

The myriad applications of economic thought have led to the creation of many more specific subfields, such as project economics, behavioral economics, environmental economics, and others. But at the end of the day, they are all united by a focus on decision-making with constraints - regardless of what the limited resources are. ‎

What kind of careers are available with an education in economics? ‎

A background in economics can be a gateway to a number of interesting -- and often, high-paying -- careers. The ability to analyze the factors driving economic decision-making is a hugely valuable skill, whether employed in the public or private sector.

Banks, hedge funds, institutional investors, and a wide range of other financial institutions employ economists in roles such as financial analysts, investment analysts, and pricing analysts to help evaluate the risks and potential returns of investments. Government researchers in economics do similar work, helping to arm policymakers with the information they need about trends in the national as well as global economy.

Some students of economics prefer more detail-oriented career paths. For example, accountants use their expertise in allocating the revenues and expenses of different business activities over time to help companies make critical resource allocation decisions. And in the world of insurance, an actuary is responsible for quantifying risk -- an indispensable role in helping businesses manage uncertainty.

Regardless of whether you prefer to contemplate big picture questions of the global economy or more specialized questions about how to classify and attribute different business costs, careers in economics require the ability to combine quantitative analysis and qualitative evaluations. ‎

What online courses does Coursera offer in economics? ‎

Coursera offers a wealth of opportunities to develop your skills in the field of economics, regardless of your level of expertise and your area of focus.

If you're just beginning your economics studies and want to get a perspective on what this discipline has to offer, you may want to start with introductions to macroeconomics , microeconomics , or international trade and globalization . On the other hand, if you already have familiarity with the basics and want to dive deeper into this field, you can take courses in more specialized subjects like corporate finance , risk management , behavioral economics , or game theory .

No matter what your goals are for your education and career, taking online courses, Specializations, and Guided Projects in economics through Coursera offers distinct advantages. You can get an education from high-quality institutions like Columbia University, the University of Illinois at Urbana-Champaign, and the University of California, Irvine, at a significantly lower cost than on-campus students. The ability to take courses online also allows you to fit learning into your existing schedule, giving you the flexibility to build your skills while continuing to work at your current job or raising a family. ‎

What skills or experience do I need to already have, before starting to learn economics? ‎

There are no specific skills or experiences needed to begin studying economics. Economics influence everyone's life on a micro and macro scale. The prices of groceries, the interest rates of a new home, and the amount we pay in taxes are all a part of economics. An interest in economic policy and financial systems is helpful but not required. Intermediate courses dig into the language and fiscal policy of financial institutions around the world, so it’s important to have a strong grasp of the basics before delving into these courses. ‎

What topics can I study that are related to economics? ‎

Because economics is an umbrella term that is used to describe the many ways we create, exchange, and spend currency, related subjects include subcategories such as personal economics and international economics. Topics covering personal economics and local economics can explain how supply and demand and government policies affect every financial decision you or your community will have to make. Topics exploring international economics and policy explain how world financial institutions and governments compete and influence growth on a global stage, and how this impacts our daily financial decisions. For a more in-depth look at financial markets, check out topics that cover the global financial crisis and the way it will impact policy for decades to come. Topics in game theory break down how trading behavior affects the stock market and economic decisions around the world. ‎

What are common career paths for someone in economics? ‎

People interested in economics may follow a career path at a bank or financial institution as a financial analyst, data analyst, or as a trader. Accountants may work for individuals, small businesses, or as part of a team for large corporations. Financial advisors work with individuals to make sure their money and investments are secure. Advisors also help people plan for the future, including retirement, estate planning, and wealth management. Other career paths for someone in economics may involve working as a policy maker or for the government as a researcher or analyst. ‎

What kind of people are best suited for roles in economics? ‎

People best suited for a role in economics have an interest in public policy and an understanding of how money circulates throughout an economy. People who pay attention to the fine print and ever-changing world of tax law, regulations, and rates are also well suited for roles in economics. Additionally, because economics is constantly evolving, it’s important to pay attention to the global markets on a micro and macro scale and study the ways in which revenue is created and spent. ‎

What are the benefits of taking an online Economics course? ‎

Online Economics courses offer a convenient and flexible way to enhance your existing knowledge or learn new Economics skills. With a wide range of Economics classes, you can conveniently learn at your own pace to advance your Economics career. ‎

What Economics courses are best for training and upskilling employees or the workforce? ‎

When looking to enhance your workforce's skills in Economics, it's crucial to select a course that aligns with their current abilities and learning objectives. Our Skills Dashboard is an invaluable tool for identifying skill gaps and choosing the most appropriate course for effective upskilling. For a comprehensive understanding of how our courses can benefit your employees, explore the enterprise solutions we offer. Discover more about our tailored programs at Coursera for Business here . ‎

Other topics to explore

Principles of Economics

(7 reviews)

Copyright Year: 2016

ISBN 13: 9781946135162

Publisher: University of Minnesota Libraries Publishing

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Joyce Burnette, Professor of Economics, Wabash College on 8/12/19

This book covers everything I do in Principles, plus some things I would like to include if I had time. read more

Comprehensiveness rating: 5 see less

This book covers everything I do in Principles, plus some things I would like to include if I had time.

Content Accuracy rating: 5

Standard economics. Does a good job with the GDP measurement problems.

Relevance/Longevity rating: 4

Includes specific examples from the news. Examples are a couple years old. Most won't go out of date, but for a few you notice their age.

Clarity rating: 5

I particularly like the "Heads Up" section, which accurately points out the most common mistakes that undergraduates make.

Consistency rating: 5

AS/AD is introduced early in the macroeconomic section and is used in later chapters.

Modularity rating: 4

Arranged usefully into relatively short chapters. Inevitably, some chapters assume that you learned the previous material (S&D, or AS/AD).

Organization/Structure/Flow rating: 5

The typical organization. Micro and then macro.

Interface rating: 4

Some of the equations did not show up in the program I was using to read it. In chapter 5 the sections are in the wrong order.

Grammatical Errors rating: 5

No problems.

Cultural Relevance rating: 4

Most examples are from the US, but there are some examples from elsewhere in the world.

I found this book to follow quite closely the way I like to teach principles.

Reviewed by Marek Kolar, Associate Professor, Trine University on 5/30/19

The scope of the book is impressive, it even includes a chapter on the recent history of macroeconomic thought, with a great discussion of the macroeconomic policy during Great Depression, and since, doing a good job integrating the tools... read more

Comprehensiveness rating: 4 see less

The scope of the book is impressive, it even includes a chapter on the recent history of macroeconomic thought, with a great discussion of the macroeconomic policy during Great Depression, and since, doing a good job integrating the tools developed in earlier chapters. I don't recall seeing anything close to this in other intro to economics textbooks that I have seen. Individual topics are developed in sufficient depth, for instance the discussion of marginal benefit and marginal cost in chapter 6 is more detailed than in most of the other textbooks that I have seen. While the scope of the coverage is great, I couldn't find an index or a glossary of terms. Important terms are highlighted in the text, but I couldn't find a list of definitions to these.

The textbook seems to be accurate, without errors, and I think the author does a good job providing a balanced view, at least judging by the standards set by other principles of economics textbooks. The inclusion of topics is very standard and the discussion seems objective. I would personally like to see inclusion of the Austrian View of the Business Cycle, and of a more critical perspective on inflation, debt, and the role of government in general.

Relevance/Longevity rating: 3

The lack of recent updates is in my opinion the main weakness of the textbook. In most chapters it doesn't matter much, but for the discussion of monetary and fiscal policy it is important to point out that the discussion in the textbook ends with the immediate aftermath of the 2008 recession, thus is missing the more recent changes in the Fed's policy and recent developments. The book lacks a discussion of negative interest rates, Fed's growing balance sheet, and the recent increases in government debt and budget deficits. This seems not to have been updated since 2010.

For an economics textbook, the writing is easy to understand, which makes it accessible to a wide range of students, but may not be an ideal choice for a more advanced student who may prefer a more demanding text. I found many of the examples interesting and engaging, for instance the example of smokers being on net a positive externality in chapter 11, or the example of hockey teams maximizing profits in chapter 10.

The book is consistent throughout.

Modularity rating: 5

Each chapter is organized in a few sections, each with its own learning objectives, examples, and a few questions to be answered. It seems easy to either pick a section from a chapter, or skip a section, without losing continuity. It seems effort was put into chapters being able to stand alone on their own, for instance there is a separate chapter (23) on economic growth, investment (29), and interest rate - loanable funds market (13).

Organization/Structure/Flow rating: 3

As mentioned under Modularity, the book does a good job including many stand-alone chapters, but this creates a problem in organization. For instance it is difficult to make the connection among interest rates, investment, saving, consumption, and economic growth, as the coverage is spread across chapters 13, 23, and 29. There is a small sub-section (a little over a page) in section 29.1 explaining the relationships, but overall I had difficulties finding the main points among the detailed discussion. I could see students getting a bit lost in the detail presented, and not being able to clearly see the bigger picture.

Interface rating: 5

I found the charts easy to read, and the use of colors is user-friendly. There are clickable links to figures within the text (if read online). The format is pretty easy to follow.

No grammatical errors encountered.

Cultural Relevance rating: 5

The pictures in the text feature people of various races, and examples feature a variety of countries from different continents.

This is a great textbook, likely to please anyone looking for a standard introductory economics text done well and freely available. The only significant downside is that it hasn't been updated since about 2010, which I find problematic for the monetary and fiscal policy discussions.

Reviewed by Joanna Short, Associate Professor, Augustana College on 6/19/18

This book includes all the usual principles topics, and then some. Want to talk about the effect of third-party payers in health care markets? Farm policy? Economies in transition? There's a chapter for each of these topics. Throughout, there... read more

This book includes all the usual principles topics, and then some. Want to talk about the effect of third-party payers in health care markets? Farm policy? Economies in transition? There's a chapter for each of these topics. Throughout, there are references to important historical events, which I appreciate. The Great Depression, for example, is mentioned several times. Some depth is sacrificed, through, to hit on all of these topics. I did not see a glossary, which is a glaring omission for an introductory textbook. In-text problems, with solutions, and end-of-chapter problems are included.

I did not notice any inaccuracies. Perhaps this is more of an interface issue, but I did notice a problem with the formula for elasticity. At least in the online version I was reading from, equation 5.1 "did not parse." This could be a big issue for students trying to understand the elasticity chapter. However, students would also probably be better than I am at finding a format that works

This text does a nice job of including a lot of environmental examples, which I think students usually find interesting and relevant. Chapter 1, for example, refers to oil extraction and water use, as well as careers and salaries in economics (another topic that should be of interest). Most case-in-point articles are at least 10 years old, though. I would like to see these updated.

Clarity rating: 4

In addition to the lack of depth, I find the writing style a little choppy. Reading this text is a little like reading a small-town newspaper. I frequently wanted more investigative reporting instead of just-the-facts. I am currently using the Krugman and Wells text (for Micro Principles), largely because it reads in many parts like a story.

I did not find many spots where I felt students would be confused, other than one spot in chapter 1, where a good is defined as "scarce" if it has alternative uses, such as air which we can either breathe or pollute. In other words, a good is scarce if it is limited. In contrast, a free good is not limited, like gravity. I find these examples (air and gravity, illustrating opposites) a little confusing particularly for chapter 1. If I were the author, I would avoid mention of free goods to emphasize that virtually everything is scarce. This is a minor issue, but I hate to see any issues so early in the book that might discourage later reading. In contrast, the section in this chapter on careers in economics is clear and engaging.

I did not notice any issues with consistency in the text.

This is a strength of the book. There are many chapters, instructors can pick and choose and rearrange as they see fit.

Organization/Structure/Flow rating: 4

Generally speaking, the text follows the usual order, micro then macro. Personally, I would have rearranged the chapters a little. For example, I would probably use chapter 6 (consumer surplus, and deadweight loss) before chapter 4 (applications of supply and demand) so we can analyze deadweight loss from price controls. Also, the Keynesian Cross from chapter 28 goes before Aggregate Demand and Supply (chapter 22). But you can always cover in any order you want. The flow suffers a little from the choppy writing style and lack of depth I mentioned under Clarity. Perhaps students appreciate this more than I do, however.

This is a real strength of the text. New terms are highlighted in blue. The graphs and charts are colorful and easy-to-read. I only found a few issues from the online version that I read from. First the elasticity formula didn't come through, and one of the TryIt! problems in chapter 2 appears to be missing part of the table. There is reference to the production possibilities for Plant R and Plant S, and I only see a table for Plant R.

I did not notice any grammatical errors.

I think the text does a good job of including some international examples, as well as frequent reference to environmental issues that some texts ignore.

I like that instructors can easily pick and choose chapters, and the graphs and charts are colorful and engaging. Each chapter has TryIt! problems with answers, as well as end-of-chapter problems (both conceptual problems and numerical problems). The case-in-point articles are relevant but a bit dated. Will they be updated? Also, I just find it strange that the authors are "unnamed" or "anonymous." Is this common with OER textbooks? I just feel obligated to give credit where credit is due--I'm not sure I can put anonymous on my syllabus.

Reviewed by Robert Berman, Adjunct Instructor, American University on 2/1/18

Comprehensive in overall coverage; yet many on the sections leave out important discussions. For example, the table of contents covers everything that would be discussed in a two semester principles course -- micro & macro separately. However,... read more

Comprehensiveness rating: 3 see less

Comprehensive in overall coverage; yet many on the sections leave out important discussions. For example, the table of contents covers everything that would be discussed in a two semester principles course -- micro & macro separately. However, the discussions are insufficient, sometimes to the extent of misleading the reader. For example, discussion of the long-run average cost curve shows an area on economies OF scale (associated with multiple sizes of plot) flowed my a range of constant returns TO scale (TO which scale? Still talking about several scales), then an range of economies OF scale. Confusion is (1) reader never told that economies and discommodes BOTH exist over the entire range. Downward sloping and upward sloping reflect the NET economies. Beginning students wonder if the economies disappear, or if diseconomies only appear with very large sizes. It would be helpful to distinguish between technological and pecuniary, and between internal and external. Finally. Mixing discussion of returns OF and TO scale confuses with short-run diminishing returns TO scale with economies and diseconomies OF different scale alternatives.

Content Accuracy rating: 3

There are some problems in accuracy owing to attempts to simplify or "dumb down" for beginning students. This is the problem of principles texts generally, and the inaccuracies here are on a par with those in other published works. See above discussion on comprehensiveness. Also, no distinction between simple inventory / style fluctuations and surplus and shortage problems. Explanations do not adequately distinguish between WILLINGNESS to buy and sell and quantities bought and sold.

Relevance/Longevity rating: 5

Text is on par with most text in the field. Not likely to become obsolete. NB: I am no one who insists on most recent data or topical issues -- articles can easily supplement in this area. Theory and logic evolve over time. Updates should be relatively easy to implement. Most importantly in this area, organization and structure of presentation is classical and consistent with how I and many others structure a course.

Jargon is not a problem and text is not overly technical. As stated earlier, lucidity problems stem from inadequate discussion in attempt to simplify. Similar to published texts in this area.

Consistency rating: 3

Consistency is somewhat problematic, as discussed above, for example switching back and forth between quantity (actually) supplied/demanded and willingness to supply/demand such quantities; also economies OF scale and returns TO scale are used interchangeably

Modularity is good; similar to other published principles texts.

Organization/structure/flow is easy to work with.

No problems with interface. Electronic version (e.g., .PDF) takes advance of hyperlinks to reference charts and other sections.

No grammatical errors noted.

Did not review with an eye to cultural relevance or political correctness. Nothing stood out as being problematic.

I will seriously consider the text. It is on par with commercially published principles texts -- none of which I have been completely happy with. One potentially negative factor is the lack of an electronic homework capability. Need to confer with students about how useful this is to their learning (as opposed to my teaching); and perhaps experiment with using the electronic homework / quizzes/tests developed for a different text with this one.

Reviewed by Maxwell Eseonu, Professor of Economics, Virginia State University on 6/20/17

The text's coverage is comprehensive. The writing approach is a very good one; that is, giving the reader a heads-up in concept coverages, real world applications of concepts and giving the reader an opportunity to apply learned concepts into... read more

The text's coverage is comprehensive. The writing approach is a very good one; that is, giving the reader a heads-up in concept coverages, real world applications of concepts and giving the reader an opportunity to apply learned concepts into real world applications (Learning By Doing).

The chapter flows is very good. I am suggesting that Chapter 11: The World of Imperfect Competition should be spelled-out clearly: Monopolistic Competition and Oligopoly.

Chapter 16: Anti-trust Policy and Business Regulation should be brought forward and should read: Anti-trust Policy and Regulation - It is an Economics Text and not a Business Text. The normal flow in the Microeconomic Section is that once the Market Structure chapters are covered, the chapter on Anti-trust Policy and Regulation should follow.

On the Macroeconomics side, the flow between chapters 20 - 23 is a good one but I would suggest a re-arranging of the chapters so that Fiscal Policy Issues are addressed before the Monetary Policy Chapters. Therefore, the proposed re-arranging should be as follows: 1. Chapters 20 - 23 2. Chapter 31 3. Chapters 28, 29 and 27 4. Chapters 24,25, 26 and remaining chapters can then follow.

It is OKAY for an introductory text. The relevant concepts coverage are in place.

It is a GOOD text and considering the high cost of textbooks, I will strongly consider using it in my Principles of Economics courses. Thank you to whomever envisioned such a worthwhile venture!

It is very clear and concise. It will be easily readable and understood by students.

The text is relevant, good coverage of concepts and will be easily understood by students.

It is easily readable but I have also made some suggestions in re-arranging the flow of chapters.

See suggestions above.

For a text made available to Community of Learners, without any cost, it achieves the purpose like other high-priced textbooks. All I can say is THANK YOU!

Grammatical Errors rating: 4

It is in line with other high-priced texts. Being first edition, the second edition will be better.

It is a balanced text. Instead of extolling the vices, I commend the writer(s) for a splendid job and should continue the GOODWORK!

I very much like the text and will consider it highly for adoption in my Principles of Economics Courses. One of the problems I encounter with my students is that majority of them do not buy the prescribed textbook and this will be a great solution to this problem - THANK YOU VERY MUCH!

Reviewed by Choikam Yip, Adjunct Instructor, Portland Community College on 1/7/16

This textbook is very comprehensiveness. It covers almost all the major topics in mainstream micro and macroeconomic studies. The examples and data used are very current and up-to-date. read more

This textbook is very comprehensiveness. It covers almost all the major topics in mainstream micro and macroeconomic studies. The examples and data used are very current and up-to-date.

The book is accurate in terminology, concept, model, graphing, and wording.

The authors are using "big" and on-going economic issues in the illustration, explanation, and case in point. This makes the study of the concept very relevant to real world experience. Since those are important on-going economic issues in our economy, the longevity of the content will last and is easy to update with relevant information and data.

Terminologies are defined in easy understandable language/wording. Concepts are explained with examples and illustrations. Graphs are using grid-lines and arrows to show the effect of it and are easy to follow and understand. Overall, the book is very clear and precise.

All chapters are using the same format. Terminologies, concepts, and graphs are consistently applied and moved on from one chapter to another chapter.

1. I found that the display in HTML version is a bit different from the PDF file. HTML has more space between paragraphs and sections whilst PDF file does not have space. The HTML format is better and easy to read. 2. Inside each chapter, it has the section numbers which are missing in the Table of Contents. For example, in chapter 1, "Defining Economics" is section 1.1. It would be better to put back the section number 1.1 in the Table of Content as well. Other than the above, the text in each chapter has good sections and sub-units.

The topics in the text are presented in a logical and clear fashion. The organization/structure/flow are consistent and coherent. All chapters are organized in the same format by using colored text box, heading and sub-heading, highlighted text, and bullet point. Easy to read and follow.

Interface rating: 3

1. As I have mentioned in 6 above, the PDF file does not space out appropriately and makes it hard to navigate through the text and go back to find text. 2. The Table of Contents should include section number for each chapter. 3. The Table of Contents should be divided into Microeconomics and Macroeconomics. 4. There is no glossary and index list at the end of the book.

I can't any grammatical error.

The authors are cultural sensitive and relevance. They are using lots of different quotes to back up their points without prejudice or bias. Different countries' cultural and economic issues are discussed and included in its content.

More Try It Problems would be better. For example, provide more Try It calculation on Elasticities, Costs of Production, etc., and provide answers and explanations. I wonder if the book comes with test bank and quiz/exam paper generation tool for the instructor? That would be great!

Reviewed by Bill Burrows, Economics Instructor, Lane Community College, Eugene,OR on 1/7/16

Being a product of the Pleistocene epoch, I sometimes don't trust my online navigation skills. That said, after repeated attempts, I was unable to locate a glossary or index for this otherwise fine text. Assuming they don't exist, their absence... read more

Being a product of the Pleistocene epoch, I sometimes don't trust my online navigation skills. That said, after repeated attempts, I was unable to locate a glossary or index for this otherwise fine text. Assuming they don't exist, their absence is certainly not a deal-breaker. In my long and labored experience, nearly all college principles of economics texts really are pretty much interchangeable in terms of providing basic content. They are obligated to cover these basics if they intend to be even moderately useful. This text provides solid, competent, confident coverage of all the rudiments in a clear, useful, and even fun manner: Scarcity, Choice, Supply and Demand, Elasticity, Costs of Production, Market Structures, Aggregate Supply & Demand, Money & Banking, Blah, Blah, Blah. You get the idea. The chapter on Socialist Economies in Transition was an interesting and welcome addition to the usual list of topics. Another absolutely wonderful thing the text did was to address the students with respect. Specifically, the authors recognized and acknowledged that the vast majority of students in college are there to gain knowledge and/or a degree that will help them provide for themselves and their families (present or future). Few texts in any discipline make even vague reference to what should be an obvious reality of their end customers' worlds. Most college texts authors ignore such tawdry issues out of a misplaced concern for sullying the purity of their disciplines with such pedestrian and base concerns. Also, I suspect, many of them are annoyed by the realization that what they teach (or how they teach) is of little practical value. Whoa! Where-the-heck did all THAT come from?!? Apparently someone's little "soapbox" button got pushed. Meanwhile, back to the topic at hand: Libby Rittenberg & Timothy Tregarthen are rare and refreshing exceptions to the norm. They go on at length about Careers in Economics, Application of Economics to Other Fields, LSAT Scores and Undergraduate Majors (Economics majors rank quite well), and Starting Salaries of Economists vs other Professionals (again, not-so-bad). If they had been in the room as I read these sections, I would have kissed them squarely on the lips.

Okay, I'll try to curb myself a bit and not run on quite so much with this response. As I read through the text (no, I didn't read every page, but I did read quite a bit; samplings from nearly every chapter), I wasn't once struck by an obvious inaccuracy or biased presentation of concepts and material. I haven't always had that impression when reading texts, economics or otherwise. Krugman's springs to mind. These folks did an admirable job of fairly and evenhandedly compelling students to understand far reaching ramifications and consequences of topics such as the unavoidable reality (sometimes unpleasant) of having limited choices, how not "black-and-white" antitrust policies can be in a complex world of international economies, the economics of environmentalism, causes and remedies for income inequality, poverty, and discrimination, and other hot-button issues.

References are made to relatively current topics such as the great recession and its ongoing and potent relevance to the future of the economies of the U.S. and the world in general. Events of this magnitude and scope will certainly remain relevant for some time to come even as they transition from a current event to an important historic lesson (think, "The Great Depression"). Likewise, investigations into the inner goings on of present-day socialist economies will likely be of interest as they continue their unprecedented morphication (?) into Lord knows what. I could be wrong (often am, ask the wife), but the authors of this text leave me with the impression that they will be responsible stewards of their OER text. The phrase, "labor of love" springs to mind. I see ongoing updates in this book's future. I am rating the text as a 4 rather than 5 only because, as economists are painfully aware, the future is a shimmering, unfocused phenomenon.

Let's face it, when preparing for a relaxed evening in front of a warm, crackling fire, hot Belgian cocoa in hand, and trusty canine underfoot, few would pull a love-worn economics text off the carved mahogany bookshelf (I'm painting a picture here) as an appealing choice for the evening's read. It is a sad reality that no viable college economics text (including this one) will ever be described on course evaluations with words such as, "lilting prose" or "Like the vampires in 'Twilight' this economics text made marginal cost curves spring to life; flying off the pages and into my heart..." However, Libby Rittenberg & Timothy Tregarthen truly do do (good thing my 13-year-old boy isn't in the room) a marvelous job of keeping the (captive) reader's interest and attention. From the references to Heraclitis in the preface to the effect of cancelled games on pro-basketball players' earnings in a later chapter, the reading is peppered with references and examples designed to clarify potentially (and actually) complex social, political, economic, and mathematical concepts. They rank, "well above the norm" among econ texts. Once again, I'm choosing a rank of 4 rather than 5. I do this for two reasons: 1) I am a bitter old man who grades way to hard (I've been told), and 2) I'm saving the ultimate-highest-rank of 5 for when they finally make a digital text that plugs directly into the higher learning centers of our students' cortices (directly bi-passing the sizable portions of their brains dedicated to Netflix and pizza).

As I sheepishly admitted somewhere above, I didn't read everysingleword of the text. However of the very many pages I did read, terminology was always consistent. I didn't find one instance where students would have been confused by the same terms being used different ways. The framework of the text was logical and consistent with the majority of economics texts available today, both OER and elsewhere. Just to be clear, that is a good thing. I'm generally unimpressed with authors that strive to distinguish their text by presenting material in an avant-garde or experimental way.

Okay, I can't help myself, is "modularity" really a word? According to the authors themselves, all the chapters are written using a “modular” format. It appears that most of the chapters are divided into major sections (three in most cases). This helps keep topics from becoming too darn unwieldy. Each section also contains learning objectives, summaries, examples, and problems. Each chapter is introduced with a nice story to motivate the material and each chapter ends with a wrap-up and additional problems. Good stuff! Plenty of useful examples and a good assortment of different types of questions (with answers). I'm seriously considering using this text in my in-class sections and perhaps my online as well. Hence, the modularity issue is an important one to me. I don't have the time or inclination to cover all the chapters of any economics text, including this one. As most of you reading this likely know, this can be a problem with some texts that have chapters so tightly linked that missing out on one or more "episodes" (let alone ten) would leave the students quite befuddled (kind of like, "Downton Abbey"). Reading through this text leaves me with the strong impression that this would not be a problem (more like, "General Hospital"). In the authors' own words, "To ensure students realize that economics is a unified discipline and not a bewildering array of seemingly unrelated topics, we develop the presentation of microeconomics and of macroeconomics around integrating themes."

Boy, this sure sounds an awful lot like #5 and to a lesser extent #6 above which reference "consistency" ,"framework", "easily realigned" and other related concepts.That said, I'll do my best to approach it as a somehow unique and separate query. And even if I am unable to do so, I will almost certainly still manage to write many many words. Why? Because I've been to graduate school! To aid the "organization/structure/flow" of the text, the authors have organized the material a manner deliberately intended to show students that economics is a cohesive body of thought and not some sort of maddening series of complex and unrelated topics. Economic concepts can be (and regularly are) divided into the two general categories of Macroeconomics and Microeconomics; "Integrating themes" are used for both the Macro and Micro topics. For Macro, the integrating theme is the notion of Aggregate Supply and Aggregate Demand (sexy stuff that). The integrating theme for microeconomics is the "marginal decision rule." This powerful (and fun!) idea is presented quite early in the text and then used throughout the remaining discussions of microeconomics.

A great job was done with the text's interface. All the graphs and charts and tables are clear and uncluttered and generally user-friendly. Understandably, you won't find the dizzying array of expensive multi-colored, 3D, flip-page gadgets that appear in some $307.59 economics texts. That stuff is spendy and lest we forget, the point of OER materials is to bring costs to students down. I can happily accept the simple, straight-forward, understandable format contained herein. Frankly, many of the "fancier" presentations often provide more distraction than edification.

Granted, I didn't have magnifying glass in hand, but in all the material I read I don't recall seeing a single grammatical faux pas.

While I can't absolutely guarantee that there's not a single humanoid on our fair planet that would find any words in this text offensive, I can with some confidence say that if we did find such a person they would likely be more than a little bit wacko. While the authors didn't shy away from potentially controversial but relevant economics related topics, they were without exception respectful and inclusive.

If you haven't figured it out by now, I'll spell it out: This is a great college level economics principles text. Before long, I intend to quite requiring the expensive text now used in my in-class courses and require students to read chapters from this OER text instead. Thanks Libby Rittenberg & Timothy Tregarthen for all your good work!

Table of Contents

• Chapter 1: Economics: The Study of Choice
• Chapter 2: Confronting Scarcity: Choices in Production
• Chapter 3: Demand and Supply
• Chapter 4: Applications of Demand and Supply
• Chapter 5: Elasticity: A Measure of Response
• Chapter 6: Markets, Maximizers, and Efficiency
• Chapter 7: The Analysis of Consumer Choice
• Chapter 8: Production and Cost
• Chapter 9: Competitive Markets for Goods and Services
• Chapter 10: Monopoly
• Chapter 11: The World of Imperfect Competition
• Chapter 12: Wages and Employment in Perfect Competition
• Chapter 13: Interest Rates and the Markets for Capital and Natural Resources
• Chapter 14: Imperfectly Competitive Markets for Factors of Production
• Chapter 15: Public Finance and Public Choice
• Chapter 16: Antitrust Policy and Business Regulation
• Chapter 17: International Trade
• Chapter 18: The Economics of the Environment
• Chapter 19: Inequality, Poverty, and Discrimination
• Chapter 20: Macroeconomics: The Big Picture
• Chapter 21: Measuring Total Output and Income
• Chapter 22: Aggregate Demand and Aggregate Supply
• Chapter 23: Economic Growth
• Chapter 24: The Nature and Creation of Money
• Chapter 25: Financial Markets and the Economy
• Chapter 26: Monetary Policy and the Fed
• Chapter 27: Government and Fiscal Policy
• Chapter 28: Consumption and the Aggregate Expenditures Model
• Chapter 29: Investment and Economic Activity
• Chapter 30: Net Exports and International Finance
• Chapter 31: Inflation and Unemployment
• Chapter 32: A Brief History of Macroeconomic Thought and Policy
• Chapter 33: Economic Development
• Chapter 34: Socialist Economies in Transition

Ancillary Material

About the book.

This book is intended for a two-semester course in Economics taught out of the social sciences or business school. Principles of Economics aims to teach considerable range and depth of Economic concepts through an approachable style and methodology. The authors take a three-pronged approach to every chapter: The concept is covered with a “Heads Up” to ward off confusion, a real-world application for that concept, and a “You Try It” section to make sure students are staying on top of the concept.

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Best Economics Websites and Apps for Students

For social studies, few topics are as essential, or as difficult to get a grip on, as economics. These games and sites help break down how the U.S. economy -- and its budgets -- work. There's a heavy emphasis on systems thinking, showing students that economics affects just about everything (for better and worse) from policy to people. On this list you'll find videos that break down the most difficult concepts, games that feature tough ethical decisions, and lessons that highlight how the economy is connected to poverty and social justice. 

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You can bet on business and finance being interesting for teens

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Resources, lessons help teach a more inclusive version of U.S. history

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Financial management made fun via real estate-themed building sim

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Provocative, first-person look at poverty builds empathy

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Slick sim explores global natural disasters

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Democracy 3

Nuanced political sim about the balancing act of government

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We the Economy

Explore big questions about the economy with collection of short films

Bottom Line : Detailed films can help raise awareness about economic issues that are often ignored or misunderstood.

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Principles of microeconomics, assignments.

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The main two categories of economics are:

• Microeconomics:

Microeconomics focuses on the behavior of basic elements in the economy that include individual agents and markets, their interactions, and their outcomes.

• Macroeconomics:

Macroeconomics analyses the entire economy and issues affecting it that include unemployment of resources, inflation, economic growth, and public policies that address these issues.

The Four Basic concepts of economics:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible. Figuring out ways to make the best use of scarce resources or find alternatives is fundamental to economics.

• Supply and demand

Supply and demand is the relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the essential concept of price determination in economic theory. The price of a commodity is determined by the interaction of supply and demand.

• Costs and benefit

The cost-benefit analysis is a systematic process for calculating and comparing benefits and costs of a project, decision, or government policy. Its main purpose is to determine if it is a sound investment and provide a basis for comparing projects.

An incentive is something that incites one to action. It is a type of motivation and provocation for the employee. Economists understood that incentive is the key to achieve organizational goals. Some incentive schemes have been proved to be so efficient that they are followed as the rule book in many firms, such as performance bonuses, profit sharing, and employee shareholding.

Microeconomics

Microeconomics is the branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. One of the goals of microeconomics is to analyze the market mechanisms which establish relative prices among goods and services. It also analyses the allocation of limited resources among alternative uses.

Supply, demand, and equilibrium: Supply and demand is an economic model for price determination. It’s the theory of the perfect competitive market with no price control and unit price for a particular good is the price at which the quantity demanded by the customers equals the quantity supplied by the producers.

Measurement of elasticity: It’s the measurement of how responsible an economic variable with the change in another variable. The terms frequently used in the economic world are price elasticity of demand and supply, income elasticity, the elasticity of substitution, factors of production, and many more.

Perfect competition: Perfect competition describes the market’s position that no industry or company is large enough to have power as the prices of products are homogenous.

Market structure: Market structure includes different varieties of market systems and this feature of the market is known as capitalism and its aim to substitute markets with the best economic planning of varying degrees.

Consumer demand theory: It is the cornerstone of modern microeconomics and provides deep insights for understanding market demands. Consumer demand theory allows us to study the behavior of consumers and their decisions in terms of purchasing services and goods through the markets.

Theory of production: It is the study of the economic process of transforming the inputs into outputs. It uses resources to produce goods or services which can be exchanged in a market economy.

Costs of production: Cost of production theory of economics deals with the determination of the cost of a product by adding up the costs of the resources which went into producing it.

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Industrial Economics :  Industrial economics deals with the maintenance of the economical problems of firms and industries. Moreover, it also tries to shape the relationship with societal factors.

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Home » News » TFAS Offers Online Economics Lessons and Resources for High School Students

March 20, 2020

TFAS Offers Online Economics Lessons and Resources for High School Students

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As the spread of COVID-19 causes high schools across the country to close their doors, TFAS is providing resources to help our teachers and parents continue the important task of educating our nation’s future leaders.

View our Economics Lessons of the Week

Through our high school programming division – the Foundation for Teaching Economics (FTE) – TFAS offers a plethora of online lesson plans, readings, handouts, video demonstrations and hands-on activity guides to teach the “economic way of thinking” in engaging and relatable ways.

These resources include:

Economic Reasoning Propositions: The Foundation for Teaching Economics’ Economic Reasoning Propositions (ERPs) are a guide to the “economic way of thinking.” They empower students to view the world through an economic lens and provide a tool kit to solve economic mysteries, understand social phenomenon and make sense of current events.

Lesson Plan Database: This searchable database enables teachers and parents to find lessons and educational activities by topic, Economic Reasoning Propositions (ERPs) and by content standards. All lessons are correlated to the National Voluntary Content Standards in economics, the Common Core, and when possible, to the individual state standards. Our searchable interface facilitates alignment of lesson content and activities for standards- and mastery-based instruction.

Economic Barometer: This series of benchmarks provides an overview of the U.S. federal government’s latest quarterly economic data. Each one is accompanied by its definition and explanation of its composition and use. These benchmarks, especially in combination, are intended to help teachers and students and others readily locate and observe the fundamentals of the evolving national economy.

In the coming days and weeks, we will highlight and promote these lessons with teachers and parents within our network. Please, if you know of a teacher or parent who is educating high school students, share these resources with them as well.

Thank you for helping us continue our important mission through these trying times. We look forward to rising to the occasion and finding new and innovative ways to teach economic reasoning to our rising generations.

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Applications are now open for a number of Summer 2020 FTE programs for high school teachers and students. Please see below for more information and to begin your application today.

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High School Economics Lesson of the Week

As the spread of COVID-19 causes high schools across the country to close their doors, TFAS is providing resources to help our teachers and parents continue the important task of educating our nation’s future leaders. Each week, we’ll feature a different lesson from our high school programming division –  the Foundation for Teaching Economics (FTE)

Economic Growth and Scarcity

In this lesson, students are introduced to the concept of economic growth through the story of human progress and changing standards of living over time. Video clips, historical examples and a mini-activity engage students in the discovery of the institutions that foster economic growth.

Opportunity Cost and Incentives

This lesson uses examples, videos and three mini-activities to teach concepts such as opportunity cost, incentives, pricing, marginal benefit and cost, rationing, supply, demand and sunk cost. Downloadable lesson guides and slides provide instructions.

Open Markets

During this lesson, students make connections to their real-world interactions in markets to better understand the role competition and prices play in guiding market outcomes. Fun video clips and a mini-activity help students discover how discover how open competitive markets can promote economic growth.

Markets in Action

This lesson has two goals. The first is to expand students’ understanding of markets by discussing government-imposed frictions that affect the market-clearing price and quantity. The second is to involve students in analyzing examples of economic reasoning using problems and activities. Through two optional mini activities and a 1 vs 100 Game Show, students practice applying the tools of supply and demand analysis real-world scenarios.

Labor Markets

The focus of this lesson is on the choices made by buyers and sellers of labor services, and the factors and constraints that affect these choices including wages, technology and demand. Downloadable lesson guides and slides provide instructions.

Incentives, Innovations, and Roles of Institutions

This lesson uses examples, video clips and a risk-reward mini activity to teach the relationship between innovation and economic growth. Downloadable lesson guides and slides provide instructions.

Property Rights: Is the Environment Different?

In this lesson, students apply the tools of economic analysis to environmental problems. Through the analysis of historical and contemporary environmental problems, students discover the value of looking at environmental issues as problems of incentives and institutions rather than blaming them on “bad people doing bad things.”

Setting the Rules: Costs and Benefits of Government Action

This lesson gives students the opportunity to apply the economic way of thinking to the political arena. After exploring differences between private and public choice they will apply public choice theory to understand why “bad economics” often makes for “good politics.”

Money and Inflation

In this lesson, students learn that anything that performs the functions of money can be money (even macaroni!). As they use their macaroni to bid on items during an auction, they learn that the value of money depends on the quantity of money relative to the quantity of goods and services they can buy with that money.

International Markets

In this lesson, students apply the model of supply and demand to international markets for goods and services and currencies. Interactive online resources, videos and discussion of contemporary trade issues connect the students to the larger (and sometimes invisible) world in which they exchange.

The Magic of Markets

This lesson involves students in a trading simulation designed to illustrate a complex marketplace in which goods and services are traded. Students use this experience to investigate the conditions that encourage or discourage trade among individuals. Downloadable guides, videos and a group activity introduce new concepts such as trade, voluntary exchange, costs, benefits and property rights.

In The Chips

This week's lesson is "In The Chips," an activity that simulates a market for computer chips. Students, acting as buyers and sellers, will experience the competitive nature of markets. As a result, they will see how competition influences the price of goods and the decisions of buyers and sellers. Students will be introduced to concepts including supply, demand, equilibrium price (or market clearing price) and competition.

The Job Jungle

This activity allows students to experience a labor market firsthand and ultimately discover how wages are determined. A video, handouts and teacher guide explain the set up and goals for the activity. Students will explore labor supply and demand, why profit-maximizing employers will not offer more than the value of a worker’s marginal product, and the opportunity cost a worker faces when considering whether to accept a wage offer.

Cartels and Competition

This week's lesson is "Cartels and Competition." Through this activity, students experience the interdependent decision-making characteristic of oligopolies, and see firsthand the impact that incentives and competition have on the market. A downloadable guide, instructional video and handouts help instructors facilitate the activity.

The Wheat Activity

In this simulation, students act as workers producing wheat. The students will use their available capital (pencils) to produce wheat by writing the word “w-h-e-a-t” as many times on the piece of paper (land) as possible in a given time period. Each round more students are added to each team which will slow down production and show how even as total product increases the marginal productivity of workers does not increase at that same rate. Students will use this activity and marginal decision making to understand how companies make decisions to hire based on marginal productivity.

The Fish Activity

The activity introduces the "free-rider problem" that occurs when resources are owned in common – what we refer to in economics as "the tragedy of the commons." In this simulation, students act as fisherman who harvest fish for profit and incentives. Students will explore economic concepts including, "the tragedy of the commons," property rights and market approaches to conservation and environmentalism. This lesson teaches how well established property rights increase the value of investments that pay off in the future.

Farmers & Fishers

In this group activity, which can be used for in-person or online instruction, students are given role cards and must play the game as either a farmer or fisher, with both parties looking to harvest for profit. In the scenario, we imagine farmers own the water rights where they must grow crops and where the fishers must harvest fish. The farmers’ decision on whether or not to irrigate with the water could hurt the fishers and help the farmers in a “low water year.” Students review U.S. Water Rights law and are tasked with coming up with solutions that will benefit both parties. The key takeaway from the lesson is the importance of property rights.

A Pollution Solution

In this activity, students acting as owners of companies emitting proscribed substances engage in a market for tradable pollution credits. So-called “cap-and-trade” programs have been used successfully to meet pollution standards while incorporating incentives to find least-cost solutions.

Foreign Currency and Foreign Exchange

In this simulation, students are given copies of Saudi Arabian Riyals, and must find a way to convert them into "Classroom Bucks" in order to purchase candy. Through this activity, students learn that in a foreign exchange market, importers often must obtain the currency of the exporter’s country to purchase the goods to be imported.

The Bread Market

This lesson simulates a bread market that undergoes an unpredicted shock and the emergent order that follows. Over the course of the simulation, students acting as buyers and sellers develop expectations about the price of goods in the market. Once a demand shock occurs, students must use their knowledge of past price predictions along with their own willingness to buy or sell to experience how the market adjusts to an increase in scarcity.

The U.S. Airline Industry... Fight or Flight!?

In this lesson, students will explore the concepts of international trade, trade barriers, balance of trade and public choice theory. Through a comprehensive lesson plan and related classroom activities, students will analyze the impact of Open Skies agreements on American jobs as well as the unseen costs being borne by U.S. consumers and businesses.

Property Rights and U.S. History – Jamestown Simulation

In this activity, students will simulate the experience at Jamestown before and after the arrival of Sir Thomas Dale. The students will become colonists who are expected to work to pay the price of their passage to America. The game is played over several rounds, each of which can last up to two minutes. In the early rounds of the game, students are not rewarded for working hard. Instead, three student managers are rewarded for whatever the students create. In the later rounds of the game, students are rewarded for what they create and, consequently, get involved in creating more.

Indentured Servitude – A Colonial Market for Labor

This activity will demonstrate to students, using the context of colonial markets for indentured servants, that prices emerge from the choices made by individual people. As students participate in this simulation, they will discover that the specific time period of indentured servitude is determined by an agreed upon price that emerged spontaneously from the voluntary actions of people as buyers and sellers in the market.

Transaction Costs and Currency – 1808 Road Trip

In this activity, students are given a “purse” containing one of four types of bank notes and are sent off on an imaginary 1808 journey from Richmond to Boston. As they stop in several cities along the way, students realize that businesses in some states accept only the notes issued by a local, well-known bank. Through a series of rounds, students are given the option to exchange notes with a notebroker or trade in their money for the notes of the Bank of the United States. As they experience the frustration of trying to obtain the notes needed for their purchases, students explore ways to reduce or eliminate this “transaction cost,” a commonly overlooked concept when studying markets.

The Oklahoma Land Rush – Property Rights on the American Frontier

In this 45-minute activity, students will work in family groups of four while simulating the rationing of land in American history on a “first-come, first-served” basis, as it was rationed during the Oklahoma Land Rush of 1893. As student “Boomers” engage in the chaos and excitement of racing for land, they participate in a common experience they can analyze and evaluate afterwards. This helps them sort through the historical experience, highlighting the exorbitant and unrecognized costs of rationing property rights in the American West.

A Question of Trust

The purpose of “A Question of Trust” is to let students simulate the origins of the era of trusts in American economic history. Acting as “captains of industry” they, too, will try to create monopoly power within their classroom oil industry. Their experience will challenge the common belief that the era of trust formation was evidence that Adam Smith’s analysis of capitalism was flawed.

Show Me the Money! A Fractional Reserve Banking Simulation

In this activity, students will learn how to calculate the amount of money created by banks in the classroom economy, appreciate the role of banks as creators of money and understand the importance of fractional reserve banking in the process of money creation.

The Great Depression – A Family's Choices

In this simulation, students play the role of families in a small town, trying to deal with the changes in income they experience a a result of the Great Depression.

Women and Work in American History – The Opportunity Cost of Staying Home

In this activity, students assume the roles of married women in the 1930s and 1940s in the United States. As they play their roles, they learn to identify the opportunity costs involved in choosing whether to stay home or go to work. Successive rounds of the activity incorporate changing societal values and wage rates, both of which influence their choices about whether or not to enter the labor force and take jobs outside their homes.

Are Disasters Good for the Economy?

In this activity, students will analyze and reconcile data to arrive at a group consensus on the impact of disasters on an economy. Following the activity, students will consider factors that determine how much an economy can produce, what happens to an economy's resource base during a disaster, the impact of a pandemic on GDP, and more.

When Disaster Strikes, What Can Markets Do?

In this lesson, students proceed to examine the institutional tools available to societies and nations to deal with the blows that nature occasionally deals us. By looking back on historical and recent examples of disasters, students will determine what markets can – and can not – do in the event of a disaster.

When Disaster Strikes, What Can Government Do?

In this lesson, students will explore examples in history and determine how governments should respond, and how government should not respond in the event of a disaster. Through a series of case studies, students will learn that big problems like natural disasters cannot be best dealt with by big institutions.

When Disaster Strikes, What Can We Do?

In this lesson, students will learn the role private citizens play in responding to disasters. In performing an institutional analysis of disasters, students will learn that people who want to help can be most effective when they work through the institutions that form the framework of society.

The Future of Water – Crisis or Cooperation?

In this activity, students will act as Oyster Valley farmers under an appropriation system. Students will then analyze the fair and desirable outcomes of water appropriation as they consider alternative water allocation methods that could help increase the sum of total revenues to all farmers.

Yours, Mine, Ours: The Rules of Ownership

In this activity, students will analyze problems that arise over ownership and use of water. Through a series of discussion sessions, they will explore the privileges and limitations of ownership, the definition of property rights, and the transfer of goods and resources.

Bag and Baggage

In this activity, students will explore the economic concepts of opportunity cost, scarcity, rational choice, and cost-benefit analysis. As one of the many variations of the well-known “bag game,” this lesson teaches students that voluntary exchange creates wealth and that wealth-creation is enhanced by opening the market to more traders.

How Clean Is Clean?

In this lesson, students will explore the economic concepts of marginal analysis, opportunity cost, sunk cost, marginal cost and benefit, and total cost and benefit. Through various activities and lesson guides, students will gain an understanding of how economic reasoning teaches us that the economic perspective is preferable to the all-or-nothing approach to pollution clean-up that is sometimes adopted by environmental activist groups.

Using Markets to Reduce Pollution

In this activity, students will explore the scarcity of resources needed to reach a certain level of environmental quality. They will also learn the externalities that make achieving this goal difficult. Through a series of discussion sessions, students will determine that the same incentives that lead markets to produce more goods and services for lower cost can help us to achieve greater environmental benefit at lower cost.

The Environment Is An Economic Good

In this workshop, students will look at the environment as an economic good. They will look at the scarcities and limitations of the environment, exploring how people's choices about the environment are affected by incentives. Students will also look at the consequences of choices regarding environmental issues, gaining an understanding of how to anticipate the potential unintended, secondary effects.

Inflation and Unemployment

This lesson goes beyond the data and terminology of measuring inflation and unemployment to look at the impact on the economy and on individuals of changes in the levels of prices and employment.  By acknowledging the continuity of change, focusing on how change redefines winners and losers in the economy, and by pointing out that things are not always what they seem, lessons on employment and inflation can demonstrate how economics education adds value to people’s lives.

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We've collected a number of useful high school-level economics lessons for you to use with your students.  

Click the button to either download a PDF file of the lesson or view resources.

Lesson: Barbie in the Labor Force

GRADES: 6-12

CONCEPTS: Labor Force, Labor Trends

SOURCE:  Federal Reserve Bank of St. Louis

DOWNLOAD PDF

Lesson: The Case of the Gigantic 100,000 Bill

GRADES:  9-12

CONCEPTS: Money Supply, Excess Reserves, Money Multiplier, Reserve Requirements

Crossing Borders: The Globalization Debate

CONCEPTS: Benefits, Costs, Globalization

SOURCE:  Federal Reserve Banks of St. Louis

SEE RESOURCES

Lesson: Currency and the Fed

GRADES:  8-12

CONCEPTS: Currency features and history, Federal Reserve System, Functions of Money

Lesson: The Economic Way of Thinking

CONCEPTS: Consumers, Cost-benefit analysis, Incentives, Producers, Saving, Scarcity

SOURCE: Foundation for Teaching Economics

Lesson: How Can Big Business Make Money From Tariffs?

CONCEPTS: Incentives, Tariffs, Special Interest Groups

SOURCE: Focus on Economics: U. S. History

Lesson: How Can Entrepreneurs Control Costs?

CONCEPTS: Entrepreneurship, Fixed Costs, Variable Costs

SOURCE: Entrepreneurship in the U.S. Economy

Lesson: Introducing the Credit Card

CONCEPTS: Credit, Decision-making

SOURCE: CompareCards.com

Lesson: It’s a Not So Wonderful Life

CONCEPTS: Banking, Central Banking System, Money, Savers

SOURCE: EconEdLink.org

Lesson: Privatizing Schools: Schools For Sale

CONCEPTS: Public Goods, Incentives, Private Goods, Economic Efficiency, Costs

SOURCE:   Nebraska Council on Economic Education

Lesson: The Ultimatum Game

CONCEPTS: Self Interest, Markets

Lesson: What Are the Economic Functions Of Government?

GRADES:  6-12

CONCEPTS: Role of Government

SOURCE: Focus on Economics: Civics and Government

Lesson: What Is a Stock? or Who Owns McDonalds?

CONCEPTS: Incentives, Choice, Profit, Risk

SOURCE: Learning for the Market: Integrating the Stock Market Game Across the Curriculum

Lesson: Who Desegregated Major League Baseball: Adam Smith or Jackie Robinson?

CONCEPTS: Competition, Cartel, “Invisible Hand”, Labor Market, Monopoly, Monopsony, Profit, Market

SOURCE: Economic Episodes in American History

A Group of "Bell-Ringer" Activities

SOURCE: Federal Reserve Bank of Atlanta

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How to Write an Economics Assignment

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Economics is a vast subject and needs to be deeply understood when writing about any topic concerning it. You may be nervous when writing your assignment. You need not worry anymore as we are here with everything you need to write a great economics assignment. This article is going to educate you about how to write an economics assignment.

Things To Keep In Mind While Writing Your Economics Assignment

Follow the below-mentioned tips to write an amazing economics assignment.

Collect all the data accessible to you on the topic that you have been assigned or that you have picked for yourself. You can do this by going through the books available at a library, the web, and other sources that have databases related to your research. You should not indulge in a lot of sources as that would confuse you. Stick to the resources that you find are relevant and explain your topic in a good way. In-depth research will assist you in composing assignments that are factually and technically accurate. All you have to do is have a clear idea about your topic so that you can explain to the person reading your assignment what it is about. This can only be done if you do the research in the correct manner.

Read everything and then make an analysis of your own. Include everything that you think is important.

But in order to be 100% sure that your research is correct, we recommend you to buy assignment online on EasyEssay.us , it’s a legit writing service that is based in the USA.

Assignment Structure

You can use the format that has been provided by your teacher. If not then you should follow the standard format of the assignment. If you do not follow a proper structure you may end up losing marks which are not at all good for your academic records. In case you are not aware of the format here is the right one to write your economics assignment-

• Title – The first page should contain the topic of your assignment.
• Index – Include all the sub-topics that are included in your assignment. (This may not be necessary when it comes to small assignments.)
• Body – Now write all the things that should be covered under the topic. Write only relevant stuff and do not stray from the topic. Include all the facts, reviews, and literature that support your topic. The methods and the findings are also to be written here.
• Conclusion – Concluding the topic is very important as it sums up your assignment and also shows your understanding of the assignment. You should end it with your thoughts on the subject and give suggestions.
• Referencing – This is quite an important part of the assignment. If you want the plagiarism content to be low you can give credit to all the sources that you have cited in the assignment. Follow the format that has been asked to. You can learn various referencing styles from the internet.

No Unnecessary Information And Jargon

The language used in the assignment should be easy to understand, composed of simple English, and clear. Try avoiding the use of jargon wherever unnecessary and also stay clear of highly technical language. Include them only when it is needed. When you overuse a high level of terminology it becomes difficult for the person reading your work to clearly understand what you are trying to convey to them.

Avoid making unnecessary repetitions of the information and complete your assignment within the word limit assigned to you. If you keep on repeating the information the reader will understand you only wanted to reach the word limit and have not taken the assignment seriously. Also do not include information that has nothing to do with the topic that you are writing about. Stick to only the relevant points.

Edit And Proofread

Before you submit your assignment make sure you read it once thoroughly so that you can remove the mistakes and edit it wherever it is required. This way if there is any problem in the assignment it will be solved giving you better chances of scoring well in the assignment.

If you want to score good marks in your economics assignment then you should keep all of the above-mentioned tips in your mind. If you follow them all and work hard in making your assignment then you will surely get a good grade.

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Programme Associate, Humanitarian and Disaster Risk Reduction

Advertised on behalf of.

Maiduguri, Borno State, NIGERIA

Type of Contract :

Service Contract

Starting Date :

Application deadline :.

27-Jun-24 (Midnight New York, USA)

Post Level :

Duration of initial contract :, time left :, languages required :.

English  

Expected Duration of Assignment :

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

UN Women, grounded in the vision of equality enshrined in the Charter of the United Nations, works for the elimination of discrimination against women and girls, the empowerment of women, and the achievement of equality between women and men as partners and beneficiaries of development, human rights, humanitarian action, and peace and security. Placing women’s rights at the center of all its efforts, UN Women lead and coordinate United Nations system efforts to ensure that commitments on gender equality and gender mainstreaming translate into action. It will provide strong and coherent leadership supporting Member States’ priorities and efforts, building effective partnerships with civil society and other relevant actors.

In the context of the strong ongoing partnership between the UN and the Nigerian Government to deliver crucial humanitarian and recovery assistance to those impacted by conflict in the Northeast, UN Women Nigeria established a Sub-Office in Maiduguri in 2018 to manage and oversee the implementation of targeted programs in the three most affected states of Borno, Adamawa, and Yobe. In addition to this targeted programming, the Sub-office ensures that gender considerations are integrated into all aspects of humanitarian response in the Northeast. This includes providing technical support to partners on gender mainstreaming, conducting gender assessments to identify specific needs and vulnerabilities of women and girls, and advocating for the inclusion of women's voices in decision-making processes. Furthermore, the Sub-Office works closely with local women's organizations and networks to strengthen their capacity to respond to the crisis and advocate for gender equality and women's rights.

UN Women is looking to hire a Programme Associate to assist in the implementation of the "Empowerment of Women and Girls with Disability towards full effective participation and Gender Equality in Adamawa State" project, funded by the Nigerian Humanitarian Fund (NHF). The Programme Associate will also provide programmatic and operational support within the framework of UN Women's humanitarian and disaster risk reduction programs in Nigeria.

The Programme Associate reports to the Programme Manager and Officer-in-Charge Maiduguri Sub-Office and works with and supports the members of the Sub-Office team and other programme teams in developing and implementing effective programmes consistent with UN Women rules and regulations.  She/he contributes to the research, financial management, and programme implementation, including providing necessary operational, administrative, and programmatic support. The Programme Associate will also support activities of the wider CO operations and programme teams as required.

Duties and Responsibilities

Provide advanced support to programme implementation and management

• Provide advanced administrative support and inputs in the preparation of programme work plans, budgets, and proposals on programme implementation.
• Coordinate and liaise with local stakeholders, including government officials, community leaders, and partner organizations.
• Provide technical support on programme delivery and reporting of program-supported activities and finances to partners;
• Coordinate the collection of information for the audit of programmes/ projects and support the implementation of audit recommendations;
• Identify sources and gather and compile data and information for documents, guidelines, speeches, reports, and position papers.
• Provide significant support to indicators tracking on the different projects of the Country Office
• Provide valuable support on project implementation – monitoring and related finances (project deliveries) using results-based management tools (RMS, Quantum, etc.)

Provide administrative support to the financial management of the Programme Unit

• Support the creation of projects in Quantum, prepare budget revisions, revise project awards and status, and monitor utilized funds and the operational and financial project closure.
• Provide administrative support in monitoring and preparing the budget and the finances of programmes/projects and in preparing FACE forms.
• Perform delegated role in Quantum.
• prepare non-PO vouchers for development projects.
• Process payment for consultants
• Create requisitions in the Quantum system for development projects.

Provide logistical support to the Programme Unit

• Undertake all logistical, administrative, and financial arrangements for the organization for meetings, workshops, events, and missions.
• Make travel arrangements for the Programme Team, including travel requisitions and claims.
• Draft minutes in meetings, as delegated.
• Assemble briefing materials and prepare PowerPoint and other presentations in collaboration with the Programme team.
• Organize and coordinate filing of documents; maintain mailing lists.

Provide administrative support to resource mobilization.

• Organize, compile, and process documentation and information from donors and the programme team as inputs to various databases and documents.
• Support the overall resources mobilization strategy of the Country Office

Provide support in the Facilitation of knowledge-building and sharing

• Support Identifying and documenting best practices and lessons learned to guide project improvement and strategy planning.
• Support the development of knowledge management strategy, products, and methodologies on Gender Statistics.
• Support knowledge management efforts.

Key Performance Indicator

• Timely and accurate tracking of data for CO management and donor purposes;
• Timely and accurate support to events, workshops, and missions.
• Full compliance of administrative activities with UN Women rules, regulations, policies and procedures;
• Timely recording of overall programme unit finances;
• Timely and accurate tracking of data for programme management and donor purposes;
• Quality maintenance of internal systems;
• Quality background and presentation materials

Competencies

Core Values and Guiding Principles :

Demonstrate consistency in upholding and promoting the values of UN Women in actions and decisions in line with the UN Code of Conduct.

• Professionalism:

Demonstrate professional competence and expert knowledge of the pertinent substantive areas of work.

• Respect to Diversity:

Demonstrate an appreciation of the multicultural nature of the organization and the diversity of its staff. Demonstrate an international outlook, appreciating difference in values and learning from cultural diversity.

Core Competencies:

• Awareness and Sensitivity Regarding Gender Issues
• Accountability
• Creative Problem Solving
• Working in Teams
• Self-Management and Emotional intelligence
• Ethics and values

Functional Competencies:

• Strong knowledge of financial rules and regulations and accounting principles
• Strong knowledge and application of IT tools and understanding of management systems
• Good knowledge of programme management
• Strong financial and budgeting skills
• Ability to administer and execute administrative processes and transactions. 
• Previous experience working in the North-East of Nigeria is an asset

Required Skills and Experience

Education and certification:

Bachelor’s degree in social sciences; Political Science (Economics Section); Business or Public Administration; development studies; International Relations and other related fields.

Experience:

• At least 5 years of relevant experience in administration and programme management support services.
• Excellent program management and communications skills, including drafting ability.
• Full knowledge of computer applications, advanced knowledge of database packages, and handling web-based management systems.

Language Requirements:

Fluency in English and Hausa languages is required.

Application

All applications must include (as an attachment) the completed UN Women Personal History form (P-11) which can be downloaded from:

https://www.unwomen.org/sites/default/files/Headquarters/Attachments/Sections/About%20Us/Employment/UN-Women-P11-Personal-History-Form.doc . Kindly note that the system will only allow one attachment. Applications without the completed UN Women P-11 form will be treated as incomplete and will not be considered for further assessment.

In July 2010, the United Nations General Assembly created UN Women, the United Nations Entity for Gender Equality, and the Empowerment of Women. The creation of UN Women came about as part of the UN reform agenda, bringing together resources and mandates for greater impact. It merges and builds on the important work of four previously distinct parts of the UN system (DAW, OSAGI, INSTRAW, and UNIFEM), which focused exclusively on gender equality and women's empowerment.

Diversity and inclusion:

At UN Women, we are committed to creating a diverse and inclusive environment of mutual respect. UN Women recruits, employs, trains, compensates, and promotes regardless of race, religion, color, sex, gender identity, sexual orientation, age, ability, national origin, or any other basis covered by appropriate law. All employment is decided based on qualifications, competence, integrity, and organizational need.

If you need any reasonable accommodation to support your participation in the recruitment and selection process, please include this information in your application.

UN Women has a zero-tolerance policy on conduct that is incompatible with the aims and objectives of the United Nations and UN Women, including sexual exploitation and abuse, sexual harassment, abuse of authority, and discrimination. All selected candidates will be expected to adhere to UN Women’s policies and procedures and the standards of conduct expected of UN Women personnel and will therefore undergo rigorous reference and background checks. (Background checks will include the verification of academic credential(s) and employment history. Selected candidates may be required to provide additional information to conduct a background check.)