Sunk Cost Scenarios & PSA-Inspired Economics Mini Project

Sunk Cost Scenarios & PSA-Inspired Economics Mini Project
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  1. Greetings Friend! From the beginning, economics has the potential to change students’ lives. Seriously. Introducing the way economists think, and the potential economics has for helping students understand the world around them blows my mind every year. I especially love the foundations of economics
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Product Description

Greetings Friend!

Sunk Cost is truly one of my favorite concepts in economics. The idea that future decisions should not be made based on past sunk costs can be a life-changing idea. So, I dedicate an entire lesson and mini project to it. And students love it!

To begin, students read 6 scenarios that demonstrate the concept of sunk cost (before they know what sunk cost is). They must decide what the person in the scenario should do. After all, who doesn’t love telling people what to do?! Then they learn about sunk cost and reflect on the scenarios they just solved. Finally, they complete a mini project by creating a Public Service Announcement (PSA) via video or digital poster format educating the public about sunk cost. I love seeing them apply this awesome economics concept to the real world.

This resource is also a part of this discounted bundle: Foundations & Fundamentals of Economics Unit Bundle

What to Expect:

  • 1 Essential Question
  • Sunk Cost Scenarios
  • Sunk Cost PSA Mini Project (with Rubric)
  • Suggested Lesson Plan

Materials Needed:

  • Class set of included worksheets
  • Computer (and maybe cameras/phones) for digital PSA

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Total Pages
4 pages
Answer Key
Rubric only
Teaching Duration
1 hour
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