Students discuss key terms related to credit and learn how creditors use capacity, character and collateral as criteria for making loans. Students learn about credit rights and responsibilities and identify the rights and responsibilities of using credit.

Students discuss key terms related to credit and learn how creditors use capacity, character and collateral as criteria for making loans. Students learn about credit rights and responsibilities and identify the rights and responsibilities of using credit.

Students learn what a payday loan is and the high cost involved in using such a loan. They calculate an annual percentage rate (APR) on a short-term loan and see why comparing loans using APR is more informative than simply by comparing interest rates.

Students learn what a payday loan is and the high cost involved in using such a loan. They calculate an annual percentage rate (APR) on a short-term loan and see why comparing loans using APR is more informative than simply by comparing interest rates.

Students review the elements of a contract. They discuss the characteristics of rent-to-own contracts and compare the cost of those contracts with the outright purchase of goods.

Students review the elements of a contract. They discuss the characteristics of rent-to-own contracts and compare the cost of those contracts with the outright purchase of goods.

In this module, students use their knowledge of the production possibilities curve to determine how specialization in production can yield greater global consumption.

Specifically, Andy and Jack grow potatoes and strawberries on their islands, Los Andeles and Jackramento. When trying to find the mix of potato and strawberry production that will satisfy the islanders’ wants, they happen upon a solution that provides greater strawberry and potato consumption – specialization and trade.

In this module, students are introduced to absolute advantage, the ability to produce more of a good or service than another producer using the same amount of resources as that producer.

The superhero Jack of All Trades recognizes that although he has the absolute advantage in many tasks, it doesn’t mean he should do all tasks, as Jack explains to mortal, Andy.

From this basic concept, students can move toward an understanding of the benefits of trade and comparative advantage.

In this module, students learn that economies can experience greater consumption through specialization and trade. However, the price must be right for trade to occur. So, students also ascertain the terms of trade, a condition where trade can only benefit both parties when the price of the good is higher than the exporter’s opportunity cost and lower than the importer’s opportunity cost.

Specifically, Jack and Andy work out the terms of trading potatoes and strawberries between their islands by comparing their opportunity costs of producing those goods.

In this module, students learn that even when absolute advantage exists, two parties can still benefit from trading, if they do so according to their comparative advantage. Miss Information tries to persuade Andy that his new car repair and snow removal business is doomed to failure because Jack has the absolute advantage in both tasks. However, Jack dispels Miss Information’s misinformation by suggesting they work together and exploit their comparative advantage.
Miss Information tries to persuade Andy that his new car repair and snow removal business is doomed to failure because Jack has the absolute advantage in both tasks. However, Jack dispels Miss Information’s misinformation by suggesting they work together and exploit their comparative advantage.

Miss Information tries to persuade Andy that his new car repair and snow removal business is doomed to failure because Jack has the absolute advantage in both tasks. However, Jack dispels Miss Information’s misinformation by suggesting they work together and exploit their comparative advantage.

In this module, students learn about the production possibilities curve, a graphic representation of output combinations that can be produced given an economy’s available resources and technology. With their new-found wealth, Andy and Jack have acquired islands, Los Andeles and Jackramento, giving Jack the perfect opportunity to teach Jack about production possibilities, opportunity cost, and the efficiencies of trade according to comparative advantage.

This is a JiTT exercise in which students apply introductory-level macroeconomic analysis to the question of how large the stimulus package put forward to Congress in early 2009 needed to be to close the recessionary gap facing the U.S. economy at that time. In particular, this exercise asks students to bring together the concepts of potential and actual GDP, recessionary gaps, fiscal policy, spending and taxing multipliers, and effects of changes in aggregate spending on employment and output.

An ILD to help demonstrate the Law of Diminishing Marginal Returns using an experiment.

In this service learning project, college students work in groups of three to prepare a 55-minute interactive lesson on one of the topics listed on the syllabus and team teach the lesson to students at a local high school.

In this service learning project, college students work in groups of three to prepare a 55-minute interactive lesson on one of the topics listed on the syllabus and team teach the lesson to students at a local high school.

This lesson examines the ways in which France challenged American sovereignty between 1796 and 1801.

This lesson examines the ways in which Great Britain and France countries challenged American neutrality during the Thomas Jefferson administration.

Trade was critical to Old Babylonia, where many highly prized natural resources were scarce but agricultural goods were in surplus. A vibrant trading system developed, bringing manufactured goods and raw materials from as far as Turkey, and even India, 1500 miles away. Trade became integral to the economy and the culture. In this lesson, students explore the trade industry in Old Babylonia and its far-flung influence.

Aggregate demand, short-run aggregate supply, and long-run aggregate supply come together on one of the most notable models in macroeconomics. This module will teach students how positive and negative demand shocks cause real gross domestic product, price level, and unemployment changes in an economy. These changes can take an economy from equilibrium to disequilibrium, leading to a recession or an inflationary gap. At this point, students should already understand how these individual parts of the model work: aggregate demand (AD), short-run aggregate supply (SRAS), and long-run aggregate supply (LRAS)