Unit 2: Microeconomics

 


About Unit 2

About Unit 2

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Questions

Unit 2 ideas


Lessons build on one another and are designed to be used sequentially. If you plan to use one of the lessons in isolation, review the Overview documents (Unit 1 and Unit 2). 


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2.1 Coffee Market

Engaging in a coffee market simulation, students learn how buyer-seller interactions determine prices in a perfectly competitive market.


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2.2 Law of Demand

Using data from the Coffee Market Simulation, students explore the law of demand and practice graphing the demand curve.


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2.3 Introduction to Firms

Students operate a competitive hat firm to prepare for mastering the law of supply.


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2.4 Law of Supply

Students explore how prices affect the quantity supplied and practice graphing supply curves.


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2.5 Shifts in Demand

Students identify factors that increase or decrease demand and practice shifting the demand curve, explaining the resulting change in market equilibrium.


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2.6 Shifts in Supply

Students identify factors that increase or decrease supply and practice shifting the supply curve, explaining the resulting change in market equilibrium.


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2.7 Review To Date

Through station rotations, students review key concepts from Units 1 and 2 to prepare for the first assessment.

 


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2.8 Review and Assessment Preview

Students review Units 1 and 2 concepts, preview the first Unit 2 assessment, and understand assessment rubrics.

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2.9 An Economic Story

Creating a story, students apply and demonstrate their understanding of economic concepts from Units 1 and 2.

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2.10 Introduction to Market Failure

Through a simulation on the tragedy of the commons, students explore market failure and the government's role in addressing it.


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2.11 Public Goods

Students learn about public goods, the free-rider problem, and how the government provides public goods to address market failure.


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2.12 Externalities

Exploring positive and negative externalities, students discuss possible government interventions to remedy these market failures.


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2.13 Market Structures

Introducing four market structures, students compare outcomes for consumers and firms in each structure.


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2.14 Government Interference or Intervention?

Students explore different perspectives on government involvement in markets through a simulated Twitter conversation.


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2.15 Labor Markets

Students study factors influencing wages and how labor market supply and demand shifts affect equilibrium wage rates.


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2.16 Exploring the Minimum Wage

Through interactive activities, students analyze arguments surrounding the federal minimum wage and assess their opinions.


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2.17 Income Inequality

Using manipulatives and data analysis, students explore income distribution and government redistribution programs.


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2.18 Connections Across Units: Part 1 

Students link concepts from Units 1 and 2 to an economic issue of their choice, preparing for the summative assessment.


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2.19 Connections Across Units: Part 2

Continuing to link concepts from Units 1 and 2 to current economic issues, students prepare for the summative assessment.


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2.20 Economics in Plain Sight​​​​​​

Students complete an in-class assessment identifying and analyzing economic concepts from real-world sources.

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Contact Kathleen Cusack with questions at Kathleen@econiful.org.
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