Economics: Opportunity Costs
“Economics: Opportunity Costs” teaches students the concepts of scarcity, opportunity costs and economic interdependence. Students do a close read of an original informational text before applying their knowledge to identify the opportunity costs, explaining how our choices affect others and conducting a simple cost-benefit analysis.
As a teacher in a co-teaching classroom, it’s important that my lessons address a variety of learning needs and styles. There’s something for every learner in this lesson – discussion, hands-on activities, video, songs, cooperative learning activities, game, movement, and lots of practice – both guided and independent.
Included in this product:
• Detailed 6-page lesson outline (PREVIEW)
• Corners cooperative learning activity
• “I Can” Learning Goals Chart
• Essential Questions Chart
• Vocabulary Posters – scarcity, opportunity cost
• Vocabulary Lesson Outlines
• Content-rich Informational Text (Lexile measure 690L)
• PowerPoint version of Info Text
• Teacher’s Guide for the Informational Text
• Cloze (scaffolded) Notes for informational text with answer key
• 3D Graphic Organizer (foldable)
• Identify the Opportunity Cost printable and answer key
• Discussion Guide for Video
• Economic Interdependence Game
• Cost-benefit Analysis printable and answer key
Suggestions for how to use the activities in this lesson with an interactive notebook are also included. The 3D graphic organizer will fit within the pages of a standard composition notebook. However, the lesson is designed so that it can also be used without such notebooks.
There are also annotated teacher versions and answer keys throughout the lesson so you can concentrate on what you do best – teaching! While I taught this lesson to my own students over a 3-day period, you can easily break apart the different activities and personalize it to suit your own schedule.
You will receive a .zip file containing everything. Please ensure you unzip/extract all items to use them.
Looking for more lessons about economics?
• Economics: Supply and Demand
• Economics: Taxes
• Economics: Saving and Investing
If you purchase this product, your feedback would be greatly appreciated.
Happy Teaching ~ The Reflective Educator
Social studies, economics, opportunity cost, scarcity, economic interdependence, market economy, prices, consumers, products, goods and services, wants and needs, informational text, interactive notebook, foldable, graphic organizer, cloze notes, scaffolded notes, Power Pix, Whole Brain Teaching