Meet Cade, a high school hockey player, and learn how his addiction to nicotine from vaping has had physical and behavioral impacts on his life in this digital video from NOVA. Use this resource to stimulate thinking and questions about the consequences of addiction and provide opportunities for students to make evidence-based claims about the health effects of vaping on teens. [3:59] Support materials are provided.

Students act as mining engineers and simulate ore mining production by using chocolate chip cookies. They focus on the cost-benefit analysis of the chocolate ore production throughout the simulation, which helps them understand the cost of production. As students “mine” with tools such as paperclips and toothpicks, they keep records of their costs—land (cookie), equipment used, cookie size before and after production, and time spent. While the goal is to make as much profit as possible, other costs and goals are taken into consideration—as in real-world mining engineering. For example, mining engineers also consider the resulting amount of destruction to the lithosphere when deciding the best method to obtain ore. Thus, a line item for land reclamation cost is included from the beginning. A provided worksheet serves as a profit and loss statement.

Students learn about the many types of expenses associated with building a bridge. Working like engineers, they estimate the cost for materials for a bridge member of varying sizes. After making calculations, they graph their results to compare how costs change depending on the use of different materials (steel vs. concrete). They conclude by creating a proposal for a city bridge design based on their findings.

This resource provides a good example of the differences between explicit costs and implicit costs using the ownership of a pizza restaurant as an example.

Plan a team project, track its progress and costs, and prepare a summary report using digital tools. Time to complete: 4-9 hours

This multimedia site offers a video of how the zoo determines the cost to feed the animals through linear equations. Visit the interactive exercises to continue this beginner's guide to understanding linear equations. Printable extended exercises are provided.

A public interest group claims that pharmaceutical companies overstate the costs of developing drugs because they include the foregone earnings from the money invested in drug development. The story can be used to discuss the concepts of opportunity cost and normal profit.

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage

Students use real-world data to evaluate whether solar power is a viable energy alternative for several cities in different parts of the U.S. Working in small groups, they examine maps and make calculations using NREL/US DOE data from the online Renewable Energy Living Lab. In this exercise, students analyze cost and availability for solar power, and come to conclusions about whether solar power is a good solution for four different locations.

Students learn about the major factors that comprise the design and construction cost of a modern bridge. Before a bridge design is completed, engineers provide overall cost estimates for construction of the bridge. Students learn about the components that go into estimating the total cost, including expenses for site investigation, design, materials, equipment, labor and construction oversight, as well as the trade-off between a design and its cost.

A comprehensive, yet sophisticated explanation of long run costs of production. Includes charts and graphs to illustrate key points and concepts. Somewhat advanced in places.