THE OVERHAUL OF: FOCUS / HIGH SCHOOL ECONOMICS THIRD EDITION The CEE gratefully acknowledges the funding of this publication by 3Mgives. 1

CREATED IN 1996, 2 ND EDITION 2001 SECOND PRINTING IN 2003 THE BENCHMARK FOR HIGH SCHOOL LESSON AND ACTIVITY RESOURCES WRITTEN BY: MICHAEL WATTS (CHAIR) SARAPAGE McCORKLE BONNIE MESZAROS MARK C. SCHUG 2

THE LATEST EDITION RELEASED IN JUNE 2014 AUTHORS: BILL BOSSHARDT (CHAIR) CURT ANDERSON BONNIE MESZAROS PHILLIP VANFOSSEN MARTHA RUSH MICHAEL RAYMER BRETT BURKEY & TWO LESSONS CONTRIBUTED BY OUR FEDERAL RESERVE PARTNERS 3

SOME IDEAS FOR THE COVER 4

MORE COVER IDEAS SCARCITY? YEAH, RIGHT… I’M AN AMERICAN!! ECON… HUUH, GOOD GOD Y’ALL, WHAT IS IT GOOD FOR? 5

CHANGES FOUND IN THE LATEST EDITION NOW 28 LESSONS INSTEAD OF 21 INTERACTIVE ACTIVITIES, PRESENTATION SLIDES, SIMULATIONS AND COLLABORATIVE ACTIVITY ROOMS COMMON CORE STANDARDS AND COMPELLING QUESTIONS TARGETED ASSESSMENTS AND CONSTRUCTED RESPONSE QUESTIONS THE WORLD HAS CHANGED DRAMATICALLY IN THE SHORT PERIOD SINCE THE LAST EDITION AND THE VOLUME NEEDED TO REFLECT THAT. 6

THE ESSENCE OF THE PAST REMAINS NEW LESSONS, REVISED LESSONS, AND KEPT LESSONS 11 BRAND NEW LESSONS PERSONAL FINANCE THEMES REMOVED 10 REVISED LESSONS, MAJOR UPGRADES 7 KEPT LESSONS, BRUSH UP ON A TIMELESS CLASSIC RE-SEQUENCING OF CHAPTERS BROADER COVERAGE OF MACRO CONCEPTS 7

LESSONS AND COMPELLING QUESTIONS LESSON 2/ALLOCATION: HOW CAN WE EFFECTIVELY ALLOCATE SCARCE GOODS AND SERVICES IN TIMES OF AN EMERGENCY? LESSON 11/PRIVATE AND PUBLIC GOODS: WHY DON’T PEOPLE JUST BUY THE AMOUNT OF NATIONAL DEFENSE THAT EACH OF THEM WANTS AT WALMART? LESSON 18/UNEMPLOYMENT: DOES THE UNEMPLOYMENT RATE DO A GOOD JOB OF DESCRIBING THE STATE OF A COUNTRY’S LABOR MARKET? LESSON 23/INTEREST RATES: HOW ARE INTEREST RATES DETERMINED, AND WHY ARE THERE SO MANY DIFFERENT ONES? 8

ALIGNED WITH COMMON CORE STANDARDS INTEGRATION OF BOTH ELA AND MATH STANDARDS MANY LESSONS INCLUDE READINGS THAT OFFER DIVERSE POINTS OF VIEW CONSTRUCTED RESPONSE QUESTIONS CHALLENGE STUDENTS WITH HIGHER ORDER THINKING IN ADDITION, STUDENTS ARE ASSESSED BY A MINIMUM OF THREE MULTIPLE CHOICE QUESTIONS 9

NEW LESSONS DELIVERED PPC AND OPPORTUNITY COST ALLOCATION COMPETITION/MONOPOLY PUBLIC GOODS LABOR MARKETS INCOME DISTRIBUTION INFLATION UNEMPLOYMENT ECONOMIC GROWTH INTEREST RATES MONETARY POLICY 10

CLASSICS UPDATED MARKET FOR WHEAT (COCOA) BROAD SOCIAL GOALS OF AN ECONOMY THE MARKET NEVER STANDS STILL THE CIRCULAR FLOWS OF ECONOLAND PRICE CONTROLS, TOO HIGH TOO LOW TRADE: WHY DO PEOPLE TRADE? WHERE TO BUILD A FACTORY? 11

A 21 ST CENTURY CLASSROOM RESOURCE SUPPLEMENTAL TECHNOLOGY TOOLS HOUSED ON-LINE TO ENGAGE STUDENT IMAGINATION AND COMPREHENSION LESSONS FLEXIBLE FOR ALL TEACHING STYLES FORMATTED TO SPEAK TO BOTH NOVICE AND VETERAN TEACHER Companion site: 12

SOME LESSONS THAT REPRESENT WELL SEVEN: HOW MARKETS INTERACT THIRTEEN: WHO DECIDES WAGE RATES? FOURTEEN: INCOME DISTRIBUTION EIGHTEEN: UNEMPLOYMENT SURVEY TWENTY TWO: THE CASE OF THE GIGANTIC $100,000 BILL TWENTY SIX: COMPARATIVE ADVANTAGE TWENTY SEVEN: WHERE TO BUILD A FACTORY? 13

LESSONS CURRENTLY SUPPORTED BY INTERACTIVE SUPPLEMENTS MARGINALISM MARKET FOR COCOA PROUCTIVITY COMPETITION VS. MONOPOLY LABOR MARKETS INCOME DISTRIBUTION UNEMPLOYMENT SURVEY GIGANTIC $100,000 BILL INTEREST RATES COMPARATIVE ADVANTAGE 14

HIGH LEVEL GOALS FOR THE INTERACTIVE ACTIVITIES Saving instructional time whenever possible by streamlining tasks. Manipulating and visualizing data. Collaboration. Students are encouraged to get up and interact with each other while using technology. 15

COLLABORATIVE ACTIVITIES ALLOWS FOR FACE TO FACE INTERACTION TO OCCUR IN TANDEM WITH PORTABLE TECHNOLOGY (TABLET, SMART PHONE, LAP TOP) CREATE ONE OR MULTIPLE ACTIVITY ROOMS WITH PRE-SET URLs DATA FROM THE ACTIVITY IS COMPILED AND PRESENTED IN A VERY CONSUMABLE FORMAT FOR THE TEACHER CURRENTLY AN OPTION FOR THE “MARKET IN COCOA” AND “PRODUCTIVITY” LESSONS 16

PROFESSIONAL DEVELOPMENT VIDEOS VIDEOS OF MASTER TEACHERS MODELING INDIVIDUAL LESSONS CURRENTLY TWO HAVE BEEN PRODUCED (LESSONS 13 AND 18) AND A THIRD ON THE WAY (LESSON 8) LESSONS 13 AND 18 WILL BE OBSERVABLE ON THE BOOK’S COMPANION WEBSITE STARTING MONDAY 8/4 COMPANION SITE: 17

FOCUS: HIGH SCHOOL ECONOMICS Updated to include more contemporary references that highlight new challenges in a world that has changed significantly since the 2nd edition 11 years ago Redesigned to meet the needs of today’s students and reflects current economic thinking Integrates more macroeconomics and international economics lessons including materials on topics such as GDP, unemployment, inflation, and trade Field-tested and aligned with Voluntary National Content Standards in Economics and Common Core State Standards (ELA and Math) Select lessons feature interactive online activities that connect to and extend the lessons both in class and as self-guided homework activities 18