The Topic: Economics Easier - Economics is the study of the way money, goods, and services are made and used in a society, and how they are related to one another.   Harder - Economics is a social science concerned with the study of how society allocates scarce resources to meet the unlimited wants and needs of its members. Economists examine how goods and services are produced and distributed. Goods and services are everything that can be bought and sold. Produced means the processing and making of goods and services. Distributed means the way goods and services are divided among people.   The field of economics studies how people and nations choose the things they buy from among the many things they want. Most people and countries want more things than they can buy. In all locations, the resources used to produce goods and services are scarce or limited. No country has enough farms, factories, or workers to produce everything that everyone would like to have. Money is also scarce. Few people have enough money to buy everything they want when they want it. People everywhere must choose the best possible way to use their resources and money.   Economics http://pittsford.monroe.edu/jefferson/calfieri/economics/econmain.html This site introduces the basic concepts of economics and contains information, quizzes, activities and links to other resources.   Economics at About.com http://economics.about.com/ This is a starting point for economics information with feature articles, web link library, economic data, and more.   Kids e-Con from D. Yoho at Ball State University http://www.bsu.edu/econed/KidsEcon/ This site aims at economic literacy for kids and maintains that for kids, economics is fun.   Stock Market Game http://www.smg2000.org/ This is the original program aimed at teaching about economics, finance, and the American economic system. Other Information About the SMG: 2) Stock Market Game http://ecedweb.unomaha.edu/stockmg.htm Related Investment Simulations: 3) Academic Investment Challenge http://www.ichallenge.net/ 4) Crews Stock Market Simulation Game http://www.crews.org/media_tech/compsci/8thgrade/stkmkt/index.htm    After visiting several of the economics websites, complete one or more of the following activities.   Track Your Personal Budget. Keep a record of your expenses for one month. Include the income you take in as a result of an allowance, chores, gift money, etc.. Also note how you spend your money. What percentages were spent on needs and on wants? What industries were you supporting with your purchases? What amount did you save or invest?   Test Your Economics Knowledge. Take the online quiz at the Great National Economics Test and compare your score to the national averages. Another quiz can be found at Economic IQ Test.   Complete an Economics Simulation. Investigate the issues concerning the fate of the Shell Island Resort at Relocating a Lighthouse and then debate its future.   Complete an Economics WebQuest. Adapt or follow the procedures found at one of the following webQuest sites: 1) Buckaroo Investment Club by N. Ford http://www.esc2.net/TIELevel2/projects/invest/ 2) Can You Be A Millionaire? (Grades 9-12) http://www.nevada.edu/~jilll/jillswebquest.html 3) Econ-O-Mania by S. Seaman and C. Medvetz (Grades 2-3) http://cte.jhu.edu/techacademy/fellows/Seaman/webquest/index.html 4) Economics: An Exciting Entrepreneur Experience by E. Rue and L. Whiting http://www.richmond.edu/~ed344/webquests/economics/outline.html 5) Money and Economics by L. Mautz (Grades 3-5) http://www.geocities.com/lmautz3417/money_economics_quest.html 6) Minimum Wage: Raise the Roof http://www.esc20.net/etprojects/formats/webquests/summer99/northside/Economics/default.html 7) Oh No! I'm An 'Adult' Now! http://www.coralspringshigh.com/webquests/explore_a_webquest.htm 8) Wallstreet 'Warriors' Investment Club http://topcat.bridgew.edu/~kschrock/spring98/thompson/patquest.htm 9) WebQuest: Online Sales by C. Jimes http://ecedweb.unomaha.edu/salesquest.htm 10) Where Would You Like To Live? http://www.plainfield.k12.in.us/hschool/webq/webq28/city.htm   Interview a Local Business Person. Prepare a list of questions prior to the interview. They might include: what is you job, what goods or services does your company supply, what goods or services does your business require and must be purchased, does the company has a labor union, how and where does the firm advertise its products or services, how big is the company, does it offer stock, what education must you have to do your job?   Websites By Kids For Kids Economics (2000 ThinkQuest Junior Project) http://library.thinkquest.org/J003305F/ The site uses reference and slide show libraries, a business game simulator, and much more to teach you about economics.   Econopolis (1998 ThinkQuest Junior Project) http://tqjunior.thinkquest.org/3901/ Learn the basics of economics including an understanding of money, economics, goods, services, producer, consumer, supply, demand, free enterprise, opportunity cost, and trade.   EconoStocks (1998 Internet Challenge) http://library.thinkquest.org/16500/ This site explains economics and stock investments as well as a history of economics, glossary of terms, and some business math.   EduStock (ThinkQuest Project) http://library.thinkquest.org/3088/?tqskip=1 This project explains what the stock market is and how it works. It includes tutorials on the stock market and how to pick good stocks, information on a select group of companies, and a stock market simulation   Invest Smart (1997 ThinkQuest Project) http://library.thinkquest.org/10326/?tqskip=1 This site reveals the secrets of smart stock investing. It includes a stock market game, mutual funds trading, and investment lessons.   StocksQuest (2000 Internet Challenge) http://library.thinkquest.org/C001759/ This site offers free global stock games. Integrated into this very realistic global stock market simulation are stock guides, online investing resources, and fifteen lesson plans.   More Economics Websites Digital Economist by D. A. Ruby http://www.digitaleconomist.com/ This site has lecture notes, economic data, and interactive graphics and Java applets to help students better understand economic theory and models.   Economic Issues: Pros and Cons by I. Saltz http://www.business.uca.edu/faculty/isaltz/issues.html This site develops both viewpoints regarding some specific economic issues.   Economics http://www.bpubs.com/Economics/ Here you can access an online publications and articles related to economics including economic history, economic policy, and international economics.   Economics: A Library Guide http://www.middlebury.edu/library/econ.guide.html Researching a subject begins with finding a topic, thinking about your topic, and collecting information and evidence for your topic. Related Websites: 2) Economic Statistics at Whitehouse http://www.whitehouse.gov/fsbr/esbr.html 3) Economy at USA Today http://www.dismal.com/affiliates/framed/usa_today/gen_coverage.asp   Essential Principles of Economics: A Hypermedia Text http://william-king.www.drexel.edu/top/prin/txt/EcoToC.html This site houses an online college-level textbook for micro and macroeconomics.   History of Economic Thought at McMaster University http://socserv2.socsci.mcmaster.ca:80/~econ/ugcm/3ll3/index.html This project attempts to gather all material for the study of the history of economics including both primary texts, studies of those texts and of their authors.   Junior Achievement, Inc http://www.ja.org/ See how you and your school can learn about economics with this organization.   Mint http://www.themint.org/ Learn about starting a business, saving and investing, government spending, money and credit, budgeting basics, and more.   Museum of American Financial History http://www.financialhistory.org/home.htm This online museum showcases the history of Wall Street, the economic miracle of the markets, and the achievements of American businessmen and women from Alexander Hamilton's founding designs for a national economy, to the rise of 'dot com' entrepreneurs in the global 'new economy.'   Simplified Tax and Wage Reporting System http://www.employers.gov/stawrs/kids/ This site explains why you pay taxes.   Websites For Teachers Currency Exchange and the Gang of Fifteen by E. Enholm (Grades 4-10) http://ecedweb.unomaha.edu/gang1.htm One of the many challenges of traveling in foreign countries is trying to determine how much things actually cost in U.S. dollars, even though you are using local currency. Other Economics Lessons: 2) Economics and Literature Lesson based on The Goat in the Rug as told to Charles L. Blood and Martin Link (Grades 1-3) http://ecedweb.unomaha.edu/lit-goat.htm 3) Economics and Literature Lesson based on Homer Price (The Doughnuts) by Robert McClosky (Grades 4-6) http://ecedweb.unomaha.edu/litdough.htm   Great Economic Lessons from Economic Education Web http://ecedweb.unomaha.edu/ecedweek/lessons.htm This site has a collection of online economics lessons for all levels and many content areas. Companion Site: 2) Virtual Economics Web Companion http://ecedweb.unomaha.edu/ve.htm   Economic Resources for K-12 Teachers at Economic Education Web http://ecedweb.unomaha.edu/teach.htm This is the link to lesson and resources for economic education. Parent Site: 2) Economic Education Web http://ecedweb.unomaha.edu/home.htm   EconEdLink from the National Council on Economic Education http://www.econedlink.org/index.cfm Here you find three new economics lessons weekly for varied grade levels.   Explorations in Economic Demand, Part I by K. Sosin http://ecedweb.unomaha.edu/Dem_Sup/demand.htm Some of the concepts covered in this series are the law of supply, fixed and variable resources, fixed and variable costs, law of diminishing returns, change in technology, and change in resource prices. Related Website: 2) Explorations in Economic Supply, Part I http://ecedweb.unomaha.edu/Dem_Sup/supply.htm 3) Explorations in Economic Demand, Part II (Demand Relationship) http://ecedweb.unomaha.edu/Dem_Sup/analysis.htm 4) Explorations in Economic Demand, Part III by K. Sosin http://ecedweb.unomaha.edu/Dem_Sup/shifts.htm   Martha's List of Online Economics Lessons from M. Hopkins at James Madison University http://cob.jmu.edu/econed/Marthas.htm Here you find more online lessons, these cataloged by level.   Online Economic Lessons for High School Students http://home.pacbell.net/camoore1/index.html This collection has lessons on creating a resume, supply and demand, investing, money, Federal Reserve, and comparing the US to another country.   economics supply & demand surplus commerce goods & services needs & wants money banking credit microeconomics macroeconomics distribution trade capitalism market competition monopoly consumer manufacture wage currency price product profit recession depression import export buying a car opportunity cost producer budget debt boom investing economy resources barter productivity choice scarcity Federal Reserve Gross National Product finance buyer entrepreneur capital cost benefit career seller inflation money barter tax socialism stock labor force tariff dividend        Created by Annette Lamb and Larry Johnson, 6/01.