1. Social Studies Staff Development Austin ISD Austin, TX February 12, 2010

2. Laura Ewing President/CEO Texas Council on Economic Education www.economicstexas.org Laura@economicstexas.org 713-655-1650

3. Interesting hands-on lessons that develop critical thinking skills for students in Economics, Social Studies, Math, and Career/Technical Education classes.

4. Economics Personal Financial Literacy Investor Education Student Activities www.economicstexas.org

5. Team Fees are covered by Fidelity Investments 10 week live simulation Virtual $100,000 Trade stocks, bonds and mutual funds Grades 4 – 12

6. Stock Market Game Economic Challenge Virtual Economics All Events are listed at www.economicstexas.orgwww.economicstexas.org

7. FREE through 2/28/10 79 publications, 1200 lessons 28 publications 500 economic terms

8. March 29-April 2 Online competition April 13 State Finals Capitol April 26 National Finals Online David Ricardo Division National Semi-finals Online Adam Smith Division National Finals NYC Adam Smith Division

9. San Antonio Third or fourth week in June

10. (11) (A) map the locations of different types of economic activities; (B) identify factors affecting the location of different types of economic activities; and (C) describe how changes in technology, transportation, and communication affect the location and patterns of economic activities. (12) Economics. The student understands the economic importance of, and issues related to, the location and management of key natural resources. The student is expected to: (A) compare global trade patterns at different periods of time and develop hypotheses to explain changes that have occurred in world trade and the implications of these changes; (B) analyze how the creation and distribution of resources affect the location and patterns of movement of products, capital, and people; and

11. 1. Examine the role of geography in personal finances 2. Recognize the improtnce of threshold populations for business success 3. Identify differences in range for different products and services. 4. Apply the concept of time-distance to modify the discussion of range

12. Focus Think, pair, share: 1. Where do you shop? Why? 2. For what types of products do you shop?

13. 1. Where we shop is based on… 2. People like to shop at the same places. Why? 3. What type of role do preferences and tastes have? 4. What role do income and time play in shopping?

14. What is time-distance? The amount of time necessary to travel between two places. Where do stores locate? Threshold: minimum number of customers for a business Range is the maximum of distance and time people are willing to travel to purchase a good.

15. 1. Use local maps, and rulers to measure distances you travel to purchase goods and services 2. List the names of stores or offices where they shop 3. Measure straight line distances between home and shop 4. Use the map scale to calculate distances for each item

16. 1. Complete Activity 1, Where Do You Shop? 2. Rank goods from shortest to longest distances traveled 3. As a class, complete Visual 1: Where We Shop and calculate class averages 4. Average the distances and rank order from shortest to longest

17. 1. Who would you make these trips? 2. How would your method of travel affect your decision on where to shop? 3. Your first measurement was a straight line. Were there barriers/obstacles that would have impeded your route? 4. What are your considerations for where you shop?

18. 1. Time-Distance: the amount of time necessary to travel between two places 2. How would this have impacted your measurement survey?

19. 1. Time distance is a transaction cost: the cost of learning about a products qualities, price, availability, safety, maintenance requirements, and other information 2. Highly organized markets (stock market) = low TC 3. Less organized (car market) = high transaction cost 4. How much is your time worth? 5. How much time is a retired person willing to spend? Why? 6. How do TC apply to the Where Do You Shop?

20. 1. How much value do you place on your time? 2. How much value do you place on your money? 3. How many of you would buy two or more products from the same place? How does that impact accuracy of the survey?

21. 1. Discuss threshold and range and specialization 1. Distribute Activity 2, Where Did Your Grandparents Shop? 2. Interview 3 people of your grandparents age about their shopping habits 1. What role has the Internet played in shopping today?

22. 1. Skim through Lesson One: Where In The World? 2. What does the lesson deal with?

23. 1. How will you use this in your class? 1. What other ideas do you have for these lessons?

24. Student Process 1. Why did we do these activities? 2. Summarize the point of the lesson.