2012 Learning-Focused. All Rights Reserved.

Start Date: 2/3

End Date: 2/4
Start Date:2/4
End Date:2/10
Start Date:2/11
End Date:2/20
LEQ
Why must we make choices?
LEQ
How do we make good decisions?
LEQ
What are resources in the economy?
Standard
E1.1.1
Standard-
E1.1.1
E 4.1.1

Standard-
E1.1-2

TLW:
Define scarcity
TLW:
Explain how we make choices by evaluating the
tradeoffs, opportunity costs and comparative
advantage.
TLW:
Identify the resources in the economy
Activating Strategy:
Students will look at pictures of various people (rich,
celebrities, average people, homeless) and be given
the following prompt:

what do all of these people have in common (besides
life and being human),?

(answer: all of them have to make choices)
Honors: honors will be only given two people, less
clues
Activating Strategy:
Pose the problem:
Should I upgrade my phone?
*students will give me reasons to upgrade or not
upgrade
Activating Strategy:

Brainstorm: When we think of a successful
businesses, what sorts of resources do they all
have?
Honors Brainstorm: When we think of a
successful country economies, what sorts of
resources do they all have common?
Key Vocabulary and Strategy:
Scarcity (Frayer Model)
Shortage
Key Vocabulary and Strategy:
Trade Offs
Comparative Advantage
Opportunity Costs
Key Vocabulary and Strategy:
Economic Resources (land, labor, capitol,
entrepreneurship, technology)

Production Possibilities
Graphic Organizer:
Frayer Model
Graphic Organizer:
Trade off (left side opportunity costs, right side
comparative advantage)
Graphic Organizer:
Economic Resources Vocab (definition &
example)
Learning Activity:
LA 1: Birthday Planning Activity: Students will work in
pairs to plan a birthday party and stay within budget.
When we regroup, they will reflect on their choices and
challenges.
+ honors: less money available
AP 1: students will plan a birthday party within budget
and identify the challenges they had.
LA2: Students will take notes on scarcity and
shortage. Throughout the notes, there are examples.
AP 2: Students will write down their own example of
scarcity and share it with a partner.
+ Honors: students will write down an example of
scarcity and shortage and explain to their partner what
Learning Activity:
LA 1: students will work in groups in the Organ
Donation activity. In this activity, they must choose
between three people who should get the donated
Liver. Some of the imbedded issues include receiving
payment for services, family situation and careers.
AP 1: Students will answer activity questions then
present their decision to the class. + Honors:
students will decide if organ donation should be
mandatory, considering the scarcity of organs. They
will explain their answer.
LA2: students will take notes on the vocabulary, using
the graphic organizer.
AP 2: identify which reasons for the person they chose
for the organ donation were the opportunity costs and
comparative advantage (example: comparative
advantage for the football player was that he could pay
Learning Activity:
LA 1: students will write definitions of each of the
economic resources (direct instruction)
AP 1: Students will come up with examples for each of
the terms.
LA2: Production Possibilities Activity students will
work in pairs trying to create as much as they can out
of a piece of paper. Winning team = most number of
ideas in 1 minute. After the activity, I will tell them what
they did is the idea of production possibility. I will give
them two more examples (cotton, tomatoes)
AP 2: Looking at the examples, they will come
up with a definition for production possibilities
LP3: Students will read case studies of Hersey
Name:__Taelman_________
Subject__ECON____________
Hour(s):__1 &5_____________


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Topic:____________________
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Acquisition Lesson Plan
Plan for the concept, not for the day.
UNIT: BASICS OF ECON

2012 Learning-Focused. All Rights Reserved.
makes the two different.

for his medical care and the opportunity costs are that
the other people had families.
LA3: Students will watch the Travelocity commercial
clip
AP 3: identify the comparative advantages and
opportunity costs and what scarcity had to do with the
commercial example
LA4: students will watch Billys Choice and scarcity
(youtube) and identify why this was an example of
scarcity and the trade offs and comparative advantage
involved.
AP4: students will complete decision making
assignment. They will independently practice
identifying tradeoffs, opportunity costs and comparative
advantages in various scenarios (employment, prom
dates, purchases, and escape pods)
HONORS LA5: students will balance the Michigan
budget (KC4)
HONORS AP5: students will accurately balance the
Michigan budget and explain the choices that they
made
Chocolate and Facebook
AP 3: Students will accurately identify the
economic resources (factors of production) in
each passage.
LP4: Students will read case study of the United
States
AP 4: Students will accurately identify the
economic resources in each passage. (whole
group)
LP 5: students will read case study of
Afghanistan
AP 5: Students will accurately identify the
economic resources in each passage. (and their
own and in whole group)
Fall semester*
LP: Students will create a Business Plan using
the economic resources.
AP 4: Students will accurately use the terms to
create a business plan.



Assignment:
Draw a picture representing what the word scarcity
means.
+ Honors: Do you think everyone and everything
experiences scarcity the same?

Assignment:
Childrens Book
Students will create a book that teaches a
kindergartner about the basics of decision making.
They must include the ideas of scarcity, tradeoffs,
opportunity costs and comparative advantage.
+ Honors: students will perform their book to younger
students. (younger students will choose best book)
Assignment:
North Korea Case Study
Students will read, North Korea case study and
evaluate why their economy is struggling (primarily
looking at economic resources). Students will write a
paragraph summarizing why economic resources are
needed for successful economies, using North Korea
as their example
+ Honors: make recommendations for North Korea, to
help get them on track
Summarizing Strategy:
Exit Card:
Revise Answer: What do all of the people from
the Activating Strategy have in common?
Summarizing Strategy:
Students will summarize their decisions in the
organ donation activity.
Summarizing Strategy:

Summary in the assignment