Slides 5–13

6. Progress through Slides 5–7. Point out that cognitive biases can complicate consequential financial decisions, and emphasize the role the principles of economic thinking play in making decisions aligned with an individual's preferences and goals.
7. Display Slide 8. Organize students into groups of 4, or groups of 3 as needed, and tell students they will be responsible for learning more about one of the cognitive biases. Note: the overconfidence and loss aversion readings are best suited for students struggling with the unit or with reading comprehension, and the anchoring effect reading is best suited for students confident in the material and with relatively high reading comprehension.
8. Proceed to Slide 9. Draw students' attention to the Deeper Dive Into Cognitive Biases portion of the Student Handout and explain that students will respond to the prompts on the slide in the relevant quadrant of their handout.
9. Reinforce that students will read their text independently and will be responsible for presenting that information to their group later in the lesson.
10. Distribute 1 set of Cognitive Biases Readings to each group and allow students to select their reading, or assign readings. Note: make all readings accessible on your learning management system and encourage interested students to read the other articles.
11. Allow students approximately 12 minutes to read their selected text and answer the two prompts in the space provided on the Student Handout. Circulate while students work to answer questions and offer clarification, and reference the Suggested Responses for sample answers.
12. Display Slide 10. Tell students they will now briefly leave their group to confer with peers who analyzed the same reading. Assign an area of your classroom to each reading and announce those locations, reminding students that this is their opportunity to gain clarity before presenting to their group.
13. Allow expert groups approximately 2 minutes to review their responses to the prompts and obtain clarification, then direct students to return to their original group.
14. Advance to Slide 11 and review the instructions. Tell students that after all group members share, they will synthesize the information from the readings to answer a question in the center box, and allow groups approximately 10 minutes. Note: emphasize that the focus should be on listening to their group mates and adding general notes, rather than copying down everything students wrote during the individual work time.
15. Proceed to Slide 12. Direct students to follow the instructions on the slide and record their responses in the central box on the Student Handout, then ask several students to share with the class. Note: students do not need to reach a consensus about connections to the principles of economic thinking, since all four principles could reasonably be connected to each reading, but they should discuss the prompt.
16. Progress to Slide 13. Direct students to return to their scenarios from the activator and add new tips for avoiding the cognitive biases relevant to their two scenarios, then call on several students to share. See the Suggested Responses.