Intuitive Econ

An in-depth economics worksheet designed to help students understand the Production Possibilities Frontier Model. After completion of this worksheet students will be able to: Calculate opportunity costs along a PPF curve Calculate the per-unit opportunity cost of each good Graph a country's PPF given a number of efficient output combinations Identify and plot points that would be considered to be efficient, inefficient, and infeasible Graph the effect of economic growth on a country's PPF Grap

A worksheet utilizing the PPF Model to assist student in understanding the difference between specializing according to absolute and comparative advantage, the gains from trade, the difference between exports and imports, and the rationale for desiring to implement protectionist policies. After completing this worksheet students will be able to: Calculate maximum output potential from some input data (number of workers required to produce one unit of output) Identify who has an absolute advant

An introduction to the Supply & Demand Model focusing in Demand. Topics covered include: How are prices determined in a market? What are the assumptions of a competitive market? The law of demand, demand schedule, and demand curve Individual vs. market demand The difference between changes in quantity demanded and changes in demand How to shift the demand curve The determinants of demand Substitutes vs. complementary goods Normal vs. inferior goods

An intuitive though challenging worksheet on economic demand. After completing this worksheet students will be able to: Identify the difference between an increase vs. a decrease in quantity demanded Identify the difference between an increase vs. a decrease in demand Identify the difference between a change in demand vs. a change in quantity demanded Demonstrate an understanding of the three different methods of presenting demand data (with a graph, a table, and through the use of appropriate

A power point applying the idea of comparative advantage between nations. Topics covered include: The difference between imports and exports The difference between free trade and protectionism An examination of why some countries pursue protectionist policies An examination of the "winners" and "losers" from free trade An examination of outsourcing and which jobs are likely to be outsourced An analysis of productivity and its role in outsourcing decisions An investigation into the working condi

A power point lesson which examines the concepts of absolute advantage, comparative advantage, specialization and trade in the context of the PPF model. Illustrates the terms of trade and how specializing according to one's comparative advantage can allow individuals to consume beyond their PPF.

An introductory lesson on the supply and demand model focusing on the concept of equilibrium. Topics covered include: Plotting supply and demand curves on the same graph Using a S&D diagram to read specific values (Qd and Qs at various prices) Defining what is meant by the term shortage and surplus Identifying equilibrium quantity and price Understanding what is meant by the term equilibrium Examining what happens whenever the price is not equal to the equilibrium price Predicting the effect of

An introduction to the supply and demand model with a focus on the concept of supply. Topics covered include: The law of supply, supply schedules, and the supply curve Why the supply curve is upward sloping The determinants of supply A pop-quiz/activity predicting the effect of some change on supply The difference between a change in supply vs. a change in quantity supplied This lecture is usually taught alongside the lecture on equilibrium

A power point for the first week of class which focuses on different types of statements (positive vs. normative) and the two types of economic systems (command vs. market). It also addresses how resources are classified in economics, the concept of marginal analysis, what is meant by the term equilibrium, links to some short video clips regarding the power of markets, the key features of a good model, and the trade-offs between efficient and equitable outcomes.

A power point presentations covering the two different types of price controls. Concepts covered include: What is a price control and who is able to implement them? What is a price ceiling and how are they modeled What is a price floor and how are they modeled What are the economic effects of imposing a binding price control Deadweight Loss

A power point for the first day of an introductory economics course covering the following topics: What is economics? Difference between Microeconomics and Macroeconomics What is the fundamental economic problem? How do we best allocate scarce resources amongst unlimited human desires? What is opportunity cost? An exercise in decision making using the concept of opportunity cost How do people make decisions? How to predict behavior using cost benefit analysis How to influence behavior using inc

A power point covering: The difference between a positive and negative relationship The basics of plotting and reading points on a graph How to calculate the slope of a line Introducing the PPF with a simple castaway example Illustrating the concepts of opportunity cost, inefficiency, productive efficiency, economic growth, increasing opportunity costs, and capital accumulation using the PPF Model

A power point presentation covering the following concepts: Economic Welfare Consumer Surplus Willingness to Purchase Willingness to Sell Producer Surplus Economic Surplus How to visually represent and calculate each algebraically

A lecture describing the process of analyzing a shift in economic equilibrium. Both as a result of a single shift as well as a simultaneous shift.