By the end of this section, you will be able to:
Differentiate among a floating exchange rate, a soft peg, a hard peg, and a merged currency
Identify the tradeoffs that come with a floating exchange rate, a soft peg, a hard peg, and a merged currency
By the end of this section, you will be able to:
Discuss how international trade influences the job market
Analyze the opportunity cost of protectionism
Explain how international trade impacts wages, labor standards, and working conditions
By the end of this section, you will be able to:
Define absolute advantage, comparative advantage, and opportunity costs
Explain the gains of trade created when a country specializes
By the end of this section, you will be able to:
Show the relationship between production costs and comparative advantage
Identify situations of mutually beneficial trade
Identify trade benefits by considering opportunity costs
By the end of this section, you will be able to:
Calculate the labor force participation rate and the unemployment rate
Explain hidden unemployment and what it means to be in or out of the labor force
Evaluate the collection and interpretation of unemployment data
This is a lesson presented by EconEdLink that delivers the dilemma of cash or credit. Includes background information, a problem-solving grid, and great questions.
Through illustrated notes and a related video, students will gain an understanding of comparative advantage and why trade is beneficial. [4:10]
Introduction to economics using notes and a corresponding video teaches students the basic definition of economics which involves individual choice. [1:12]
In reading and discussing Lyddie, by Katherine Paterson, students examine basic economic concepts and explore the growth of labor unions and the role of government in a market economy.
Economics lesson using hilarious clip [2:21] from Seingfeld season 2 episode in which students learn about cost-benefit analysis and the economics of crime in a humorous presentation.
