In this lesson, students listen to a story about Beatrice, a little …
In this lesson, students listen to a story about Beatrice, a little girl from Uganda, who receives a goat and the impact of that goat on her family. They learn what it means to save and use estimation to decide whether or not people have enough money to reach a savings goal. They also work through a set of problems requiring that they identify how much additional money people must save to reach their goals. Students learn what opportunity cost is and identify the opportunity costs of savings decisions made by Beatrice and her family.
A Beautiful Mind won the Academy Award for best picture in 2001 …
A Beautiful Mind won the Academy Award for best picture in 2001 and it chronicles the life of John Nash who is noted for his pioneering work on general equilibrium theory. This scene is a great way to discuss self-interest and contrast it with the social optimum. Nash's work has augmented Adam Smith's "invisible hand" theory by extending how self-interest is modeled. This scene is must viewing even though the scene itself contains flawed economics (explaining why the scene is NOT a Nash equilibrium helps students learn the concept in greater depth).
Economics is built on the premise that humans act rationally, but everyone …
Economics is built on the premise that humans act rationally, but everyone behaves irrationally some of the time. Is it possible that human irrationality nullifies economic theory? Join Professor Antony Davies of Duquesne University and Erika Davies of George Mason University as they take you on a crash course of behavioral economics, discussing topics like rational choice, heuristics, nudging, and public choice economics.
Why do people buy the stuff they buy? In classical economics, most …
Why do people buy the stuff they buy? In classical economics, most models assume that consumers behave rationally. As you've probably noticed in your real life, in case after case, people don't actually make rational decisions. There can be emotional or social reasons for all this irrationality, and behavioral economics tries to address this. We'll talk about risk, nudge theory, prices and perception, and the ultimatum game. So, let's get irrational, in a logical way, of course.
This resource is a video abstract of a research paper created by …
This resource is a video abstract of a research paper created by Research Square on behalf of its authors. It provides a synopsis that's easy to understand, and can be used to introduce the topics it covers to students, researchers, and the general public. The video's transcript is also provided in full, with a portion provided below for preview:
"A growing number of governments around the world are using behavioral science to inform public policy. So-called behavioral public policy leverages the scientific process to suggest how government decisions may or may not effect social change. Though rapidly growing, the discipline is still in its infancy. But opportunities for breaking through exist. Reporting in Behavioural Public Policy, members of the Behavioural Insights Team based in London and New York review those opportunities and the challenges that persist in this arena. As part of the world’s first government unit dedicated to using behavioral science, the team offers a valuable take on why behavioral science works and how it might be made to work for more governments worldwide. Though adapted to life outside of academia, behavioral public policy still faces many familiar challenges. Among them is the replication crisis that has gripped the field of psychology..."
The rest of the transcript, along with a link to the research itself, is available on the resource itself.
In 2008, the Beijing Urban Design Studio will focus on the issue …
In 2008, the Beijing Urban Design Studio will focus on the issue of Beijing’s urban transformation under the theme of de-industrialization, by preparing an urban design and development plan for the Shougang (Capital Steel Factory) site. This studio will address whether portions of the old massive factory infrastructure can be preserved as a national industrial heritage site embedded into future new development; how to balance the cultural and recreational value of the site with environmental challenges; as well as how to use the site for urban development. A special focus of the studio will be to consider development approaches that minimize energy utilization. To research these questions, students will be asked to interact with clients from the factory, local residents, city officials and experts on transportation, environment, energy and real estate. They will assess strategic options for the steel factory and propose comprehensive plans for the design and development of the brownfield site.
The Beijing Urban Design Studio is a joint program between the MIT …
The Beijing Urban Design Studio is a joint program between the MIT and Tsinghua University Schools of Architecture and Planning. The goal of the studio is to foster international cooperation through the undertaking of a joint urban design and planning initiative in the city of Beijing involving important, often controversial, sites and projects. Since 1995, almost 250 MIT and Tsinghua University students and faculty have participated in this annual studio, making it one of the most successful and enduring international academic programs between China and the US. It has received the Irwin Sizer Award from MIT for outstanding innovation in education. The studio takes place over five weeks in June and July including several weeks in residence at Tsinghua University and two brief study tours to locations and projects that inform the work. It will include 18-20 MIT and 10-15 Tsinghua Architecture and Planning students. The Beijing City Planning Institute, responsible for strategic planning in the city, participates in the studio as the client.
This is the 20th anniversary of the Beijing Urban Design Studio, which …
This is the 20th anniversary of the Beijing Urban Design Studio, which is a joint program between the MIT and Tsinghua University Schools of Architecture and Planning. The goal of the studio is to foster international cooperation through the undertaking of a joint urban design and planning initiative in the city of Beijing involving important, often controversial, sites and projects. Since 1995, almost 250 MIT and Tsinghua University students and faculty have participated in this annual studio, making it one of the most successful and enduring international academic programs between China and the U.S. It has received the Irwin Sizer Award from MIT for outstanding innovation in education. The studio takes place over five weeks in June and July including several weeks in residence at Tsinghua University and two brief study tours to locations and projects that inform the work. It will include 18-20 MIT and 10-15 Tsinghua Architecture and Planning students. The Beijing City Planning Institute, responsible for strategic planning in the city, participates in the studio as the client.
This is a three-part project spanning five weeks that uniquely interweaves individual …
This is a three-part project spanning five weeks that uniquely interweaves individual and cooperative learning in the context of health care reform and the 2008 United States presidential campaign.
Students will learn that money is an invention. They will read and …
Students will learn that money is an invention. They will read and analyze an essay focusing primarily on one aspect of Ben Franklin's life his work as a printer and how he was an inventor and entrepreneur who also promoted the use of currency in the United States. Students will cite specific textual evidence regarding problems and solutions and will answer questions and complete a timeline. By using evidence and information gleaned from text, students will write a fictitious social media post defending the selection of Ben Franklin's portrait for the $100 note.
In this lesson, students hear a story about Brother and Sister Bear, …
In this lesson, students hear a story about Brother and Sister Bear, who seem to want everything. The little cubs learn that they must make choices because they cannot have everything they want. Students follow along with the story by completing an activity listing all of the goods that will satisfy the cubs' wants. The students then take part in an activity to construct a word web and graphic organizer (table) to identify goods that will satisfy a want. They will make a choice, identify the problem of scarcity, and recognize their opportunity cost.
In this lesson, students make a choice about what they want to …
In this lesson, students make a choice about what they want to eat for dinner, but then they are asked to trade with a partner and discuss whether they like their new dinner better. Based on this discussion, they learn about preferences and how they help us make choices. Students then hear a story about a little bear who looks at many hats to see if he can find a new one he likes. Students will relate key concepts from the lesson to the story and create a hat to discuss their own choices and preferences with the class.
In this lesson, students hear a story about two little bears whose …
In this lesson, students hear a story about two little bears whose parents use several figures of speech relating to money. Students draw a picture of a bank and write a caption explaining their illustration. Students follow along with the story by listening for additional figures of speech and how they relate to the concepts of banks and interest. The students also construct a story map of an event in the story relating to why people choose to keep their money in banks.
Inflation numbers are important economic indicators. But thinking beyond the numbers reveals …
Inflation numbers are important economic indicators. But thinking beyond the numbers reveals a deeper reality. For example, how do businesses respond to inflation? Some resort to shrinkflation and skimpflation. Learn about these practices and their effects on consumers in the December 2022 issue of Page One Economics®: Focus on Finance.
Crypto assets have increasingly occupied news headlines and the minds of many …
Crypto assets have increasingly occupied news headlines and the minds of many consumers. While initially introduced as a payment system, crypto assets are seen by many as an enticing investment opportunity. This issue of Page One Economics® introduces crypto assets, blockchain technology, and the emerging crypto universe.
This video is 8 minutes long. It will explain the importance of …
This video is 8 minutes long. It will explain the importance of specialization in regards to trade. This video will aid in the mastery of standard EPF. 9 (a) and (g)
This is a collection of five short videos that show how climate …
This is a collection of five short videos that show how climate change is affecting fishing, native populations and access for the oil and gas industry in the Arctic. The videos include personal reflections by writers Andrew C. Revkin and Simon Romero, scientists, and residents about their experience of the impacts of the climate change in the Arctic.
This set of interactive data visualizations show the weather and climate events …
This set of interactive data visualizations show the weather and climate events that have had the greatest economic impact on the US from 1980 to 2016.
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