Lecture Objective: Introduce students to the price system - how markets connect to one another and form a sophisticated global network that is constantly adjusting based on price signals. We use a Valentine’s Day analogy to illustrate key points.

The lesson incorporates a few MRU videos from MRU's Principles of Microeconomics video course. We also mix in discussion prompts, exercises, practice questions, and pre- and post-class assignments. Finally, we provide supplementary resources such as additional data sources, relevant news articles and blog posts, and an episode of Planet Money.

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What is Marginal Revolution University (MRU)?

Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.

Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.

Light up your love with paper circuits this Valentine’s Day—no soldering required! Create a sure-to-impress flashing birthday card or design a light-up Christmas card—all with paper circuits! In this activity, students are guided through the process to create simple paper circuitry using only copper tape, a coin cell battery, a light-emitting diode (LED) and small electronic components such as a LilyPad Button Board. Making light-up greeting cards with paper circuitry is great way to teach the basics of how circuits function while giving students an outlet to express their artistic creativity.

With this free video resource, students will be exposed to the economic way of thinking. Students will understand how to use economics in their lives and, ultimately, you’ll see the world differently-- all through engaging Hollywood production style videos.

Educators can use MRU's videos in a variety of ways, to include “flipping” the classroom, as study aids, supplementary material, concept reinforcement, or even as a full course offering.

In MRU's Principles of Microeconomics course, covers fundamental concepts like supply and demand and equilibrium. We also answer questions such as: How are prices determined? What did Adam Smith mean when he said the market process works like an “invisible hand”? How is it that we have access to fresh roses in very cold cities every Valentine’s Day? All key topics are covered to include competition, monopoly, price discrimination, externalities, public goods and more.

There are no prerequisites for this course, and it is accessible to beginners.

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What is Marginal Revolution University (MRU)?

Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.

Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.

Valentine’s Day – This lesson plan focuses on the history of Valentine’s Day. My high school students love it, although I’ve used it successfully with many other students too. Remember, you can use this lesson on any day of the year.If you want additional lesson plans and support, including teachers’ notes, be sure to register for a free Off2Class account.