This task is an introductory activity for students who have little to no background in economics.
Students work in small groups to bid on hypothetical properties in a simulated auction.
Each auction has a different goal. Students are encouraged to discuss strategy, and also consider the impact of finance and competition on the prices gained for the properties.
This activity takes approximately 40-50 minutes, including time for discussion by students.
Two pages of detailed teaching notes are included to explain how to run the task effectively and scaffold answers for students.
OTHER RELATED PRODUCTS FROM FISCH ED
POLITICAL SIMULATION ASSIGNMENT
POLITICAL PARTIES UNIT AND CREATE A POLITICAL PARTY ASSIGNMENT
NEGOTIATION AND CONFLICT RESOLUTION: MINI UNIT
FINANCIAL PLANNING ASSIGNMENT
ECONOMICS INTRODUCTION ACTIVITY - REAL ESTATE AUCTION
INTRODUCTION TO ECONOMICS - MONOPOLY ACTIVITY