- 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.
- This site introduces the basic concepts of
economics and contains information, quizzes,
activities and links to other resources.
- This is a starting point for economics
information with feature articles, web link
library, economic data, and more.
e-Con from D. Yoho at Ball State
- This site aims at economic literacy for kids
and maintains that for kids, economics is
- 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
- 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
- Complete an Economics
Simulation. Investigate the issues
concerning the fate of the Shell Island
Resort at Relocating
a Lighthouse and then debate its
- Complete an Economics WebQuest.
Adapt or follow the procedures found at
one of the following webQuest sites:
- 1) Buckaroo Investment Club by N.
- 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
- 7) Oh No! I'm An 'Adult' Now!
- 8) Wallstreet 'Warriors' Investment
- 9) WebQuest: Online Sales by C.
- 10) Where Would You Like To Live?
- 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
(2000 ThinkQuest Junior Project)
- The site uses reference and slide show
libraries, a business game simulator, and much
more to teach you about economics.
(1998 ThinkQuest Junior Project)
- Learn the basics of economics including an
understanding of money, economics, goods,
services, producer, consumer, supply, demand,
free enterprise, opportunity cost, and
(1998 Internet Challenge)
- This site explains economics and stock
investments as well as a history of economics,
glossary of terms, and some business math.
- 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
Smart (1997 ThinkQuest Project)
- This site reveals the secrets of smart stock
investing. It includes a stock market game,
mutual funds trading, and investment
(2000 Internet Challenge)
- 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
- More Economics Websites
Economist by D. A. Ruby
- This site has lecture notes, economic data,
and interactive graphics and Java applets to
help students better understand economic theory
Issues: Pros and Cons by I. Saltz
- This site develops both viewpoints regarding
some specific economic issues.
- Here you can access an online publications and
articles related to economics including
- economic history, economic policy, and
A Library Guide
- 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
- 3) Economy at USA Today http://www.dismal.com/affiliates/framed/usa_today/gen_coverage.asp
Principles of Economics: A Hypermedia Text
- This site houses an online college-level
textbook for micro and macroeconomics.
of Economic Thought at McMaster University
- 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.
- See how you and your school can learn about
economics with this organization.
- Learn about starting a business, saving and
investing, government spending, money and
credit, budgeting basics, and more.
of American Financial History
- 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
Tax and Wage Reporting System
- This site explains why you pay taxes.
- Websites For Teachers
Exchange and the Gang of Fifteen by E.
Enholm (Grades 4-10)
- 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
Economic Lessons from Economic Education
- This site has a collection of online
economics lessons for all levels and many
- Companion Site:
- 2) Virtual Economics Web Companion http://ecedweb.unomaha.edu/ve.htm
Resources for K-12 Teachers at Economic
- This is the link to lesson and resources for
- Parent Site:
- 2) Economic Education Web http://ecedweb.unomaha.edu/home.htm
from the National Council on Economic Education
- Here you find three new economics lessons
weekly for varied grade levels.
in Economic Demand, Part I by K. Sosin
- 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
- 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
List of Online Economics Lessons from M.
Hopkins at James Madison University
- Here you find more online lessons, these
cataloged by level.
Economic Lessons for High School Students
- This collection has lessons on creating a
resume, supply and demand, investing, money,
Federal Reserve, and comparing the US to another
supply & demand
goods & services
needs & wants
Gross National Product
- Created by