Online Courses

There are a number of great online courses when it comes to economics. This one is one of my favorites. Not only can it be helpful to the teacher, but also for students are well. The lessons are engaging and full of information. If you are a first-year teacher and "got stuck with" economics, or you have been teaching this for a while and want so new resources, this could not come with a higher recommendation.

Supply and Demand Articles

Hey everyone. It has been awhile. Here are two great articles dealing with supply and demand as well as price discrimination. The first article deals with surge pricing at a London restaurant. This is of interest because of the use of Uber and Lyft. My guess this won't work out, as explained by this article when Coke tried the same thing in their vending machines.

Deck the Halls...

I love this time of year. Here is a video I show that the same economists that made the Keynes vs. Hayek videos, so there is an Austrian bent. After I show the video, we discuss the difference in macroeconomic policies. The students all think I am an economics nerd, which I am, and they like the songs used.

At the end, there is a photo of "Macro Santa." The joke is typically lost on the students. The voiceover says, "And remember, the one person to create presents out of nothing is Santa himself." The joke here is that they used someone who looked like then Chairman of the Federal Reserve Ben Bernanke. This is a shot at the Federal Reserve, as they can create money from nothing due to the fact that our money is fiat.  Something else to discuss with your classes.

How Evil is Tech?

With all of education moving towards the better and faster tech, and with us all trying to meet students where they live, this article, written by David Brooks, poses some interesting questions. His three big critiques of the use of technology are as follows:
1. It destroys young people
2. Tech companies are greedy and knowingly are causing this addiction
3. The main tech companies operate in a near monopoly setting which allows them to institute user settings to invade people's private lives.
So what should our response be as economics teachers and adults? I really like the way the article ends by saying, "Imagine if instead of claiming to offer us the best things in life, tech merely saw itself as providing efficiency devices. Its innovations can save us time on lower-level tasks so we can get offline and there experience the best things in life."


 

5 Classroom Tools to Measure Student Learning

This article does a great job explaining how to use real-time tools for quick assessment. The following are explored.

Kahoot!

Quizizz

Quizlet Live

Padlet

Flipgrid

Behavioral Economics

My favorite topic to teach is game theory and behavioral economics. Though a new area of study in economics, it is rich in material. If you are looking for ways to teach this topic, you can find resources here that are from the Council for Economic Education. I would also suggest that you pick up anything by the Freakonomics guys, or Predictable Irrational by Dan Ariely. You will find yourself and your students, thinking and approaching problems in a whole new way.

I am not sure how many of you get the Marshall Memo, but it is a great summary of what is being discussed within academic circles about education. This was in the latest edition:

1. Key Insights on Studying, Remembering, and Learning

            In an appendix to his 2013 book, How We Learn, Benedict Carey answers eleven essential questions that sum up the main insights he presents in the book:

            • How important is routine, like having a dedicated study area? Not at all, says Carey. “The more environments in which you rehearse, the sharper and more lasting the memory of that material becomes… That is, knowledge becomes increasingly independent of surroundings the more changes you make.” Most people learn better by studying in different locations, using different methods, at different times of the day, constantly changing the way they store material in memory.

            • Is there an optimal amount of time to study or practice? “More important than how long you study is how you distribute the study time you have,” says Carey. Ideally, break up study time into chunks over two or three days, each time reengaging with the material, retrieving it, and re-storing it in memory – “an active mental step that reliably improves memory.”

            • How much does it help to review notes from a class or lesson? Very little, he says. Looking over highlighted material is one of the least effective ways to study; the same goes for verbatim copying. That’s because both are fairly passive and don’t engage the brain in the kind of work that will make learning sink in. What’s more, passive review can cause what cognitive scientists call the “fluency illusion” – unwarranted confidence that you’ll remember it for good.

            • Is cramming a bad idea? Now always. It’s okay if you’re behind and have no choice. But the downside is that you won’t remember much after the test or performance. That’s because the brain sharpens memories only after a little forgetting has taken place.

            • So what does work? “Self-testing is one of the strongest study techniques there is,” says Carey. “Old-fashioned flashcards work fine; so does a friend, work colleague, or classmate putting you through the paces.” So does reciting a passage from memory, or explaining a concept to yourself or a friend. Testing yourself (or being tested) does two things: it forces you to retrieve information from memory, and it gives you immediate feedback if you couldn’t remember it so you know what you don’t know and need to work on some more.

            • What’s the most common reason for bombing a test after what felt like careful preparation? It’s the fluency illusion – the erroneous belief “that you ‘knew’ something well just because it seemed so self-evident at the time you studied it,” says Carey. Several passive, ineffective study methods feed this illusion:

-   Highlighting or rewriting notes;

-   Working from a teacher’s outline;

-   Re-studying after you’ve just studied.

Far better to test yourself, space out the study, and find out what you actually don’t know.

            • Is it best to practice one skill at a time until it becomes automatic, or to work on many things all at once? Working on just one thing (free throws, a musical scale, the quadratic equation) improves skill. “But over time, such focused practice actually limits our development of each skill,” says Carey. “Mixing or ‘interleaving’ multiple skills in a practice session, by contrast, sharpens our grasp of all of them.” Mixed practice helps review material from several areas, sharpens differentiating among them, and trains the brain to match the problem types with appropriate strategies. This is especially helpful in a subject like mathematics.

            • How does sleep affect learning? The deep sleep that occurs in the first half of the night is most important for consolidating and retaining hard facts – names, dates, formulas, concepts. So if you need to remember that kind of information, Carey recommends going to bed at your regular time to maximize deep sleep. But the kind of sleep we have in the early morning hours helps consolidate motor skills and creative thinking. If you need to perform creatively, whether it’s in math, science, writing, or music, you might stay up later and sleep in to maximize the effects of the second kind of sleep.

            • How about improving performance on longer-term creative projects? The proven method for a big, complicated project like a term paper is getting started as early as possible, chunking the work, and spreading it out over time. Doing this “activates the project in your mind,” says Carey, “and you’ll begin to see and hear all sorts of things in your daily life that are relevant. You’ll also be more tuned into what you think about those random, incoming clues.”

            • Are distractions from smartphones and social media a bad thing? Not unless you’re trying to give continuous focus to a lecture or some other sequential, connected learning experience. When you’re struggling to solve a problem, “a short study break – five, ten, twenty minutes to check in on Facebook, respond to a few e-mails, check sports scores – is the most effective technique learning scientists know of…” says Carey. “Distracting yourself from the task at hand allows you to let go of mistaken assumptions, reexamine the clues in a new way, and come back fresh.” Your brain will keep working on the problem offline, without your fixated, unproductive focus, and you’ll often have fresh insights when you return to it.

            • Can “freeing up the inner slacker” really be called a legitimate learning strategy? If by this we mean “appreciating learning as a restless, piecemeal, subconscious, and somewhat sneaky process that occurs all the time – not just when you’re sitting at a desk, face pressed into a book – then it’s the best strategy there is,” says Carey.

How We Learn by Benedict Carey (Random House, 2013, p. 223-228)

To-Do Lists, What Not To Do

This article found in the Havard Business Review is rich in both advice and economic concepts. This is helpful to both teacher and student. I cannot wait to share this with my classes. This shows economics being used to better people's personal lives, and not just graphs and money.

Page One Economics

If you are looking for articles and activities about any concept, Page One Economics is a place to start your search. This service is put on by the Federal Reserve Bank of St. Louis.

IOUSA

If you have not seen IOUSA, I would strongly suggest it. I show this shorter (30 minute) clip to my economics students. It is a bipartisan look at our debt and suggest reasons it exists and what to do to fix it. You can find a viewing guide here. This guide is for the full movie. I always tell my students they will leave both angry and charged to do something.

CEE Webinar

Inviting Uncertainty into the Classroom

I love this article because it is one of the many reasons I love teaching economics. There are so many wonderful activities that can and should be done in a high school economics classroom. Now, most of the activities will go as planned, but maybe they should not. I like inserting uncertainty and some chaos into any simulation I do because it forces students to adjust. Economics is all about problem-solving.

AP Macroeconomics Course

One of the biggest obstacles to starting up an AP macroeconomics course, is knowledge of the course content. Teachers either think they need to major in economics to teach it, or people believe you have to have a math degree. Neither is true. Because of the knowledge problem, there are resources to get comfortable with the information. A "free" course can be found here. If I can teach it, anyone can.

Teaching Credit

The Kansas City Federal Reserve has some wonderful activities. One of which is their series on teaching credit. These are lessons that are group based. It is so important to teach this concept as many of our students do not understand the power of compound interest and how much they will actually be paying back for that taco they charged two years ago. I would have them read this in addition to the lesson.

Free Webnire, Banking System

Experience and explore the Hands on Banking® program, aligned with Common Core State Standards as well as national and state standards for mathematics, economics and personal finance, that can help your students sharpen their personal finance skills and build the foundation for a brighter financial future. You will learn about new turnkey resources including engaging activities from basic ic banking to investing. New materials will be shared and provided to participants.
Presenter: Mia Russell, Ph. D.

https://register.gotowebinar.com/register/2089083472991651074

YouTube Channel

So I was asked to use Doceri to record my lectures and make them available for students who might be absent that day. Since I will be posting them anyway, I decided to make a YouTube channel out of it. Check it out. I only have 2 videos up thus far, but there will be more as the semester progresses.

Investing in a College Education

I like bringing up controversial subjects, both here and in class. It makes things are memorable and students feel like you are being honest with them. This is no different. In the school in which I work 99% of students are accepted and will attend, a four-year college. I know that that is not the norm. For some students it is a decision of making money now, for others, it can be a question of how to pay for college, and still, others might not be aware of what it means to get a college degree. Though I would argue that college is not for everyone, most people do benefit from a college education. I like showing the video above when talking about opportunity cost. I then go to the National Council for Economic Education for some great lessons on a college degree. I like giving students all of the information possible before making a decision. This can lead to some great discussions. In addition, you can explore the questions of:

If a college education is so great, should we use tax money to pay for it?

What kind of degrees is worth it?

When he talks about the billionaires, is the reason those are well-known stories is that they are rare?

What kind of jobs are available for those who do not go to college?

When are vocational skills the right fit?

8 Skills Every High School Student Should Have

I was reading this article from the School Superintendents Association and found in interesting what skills the author thought every 18-year old should have. Here is the list of the eight:

AN 18-YEAR-OLD MUST BE ABLE TO TALK TO STRANGERS.

AN 18-YEAR-OLD MUST BE ABLE TO FIND HIS WAY AROUND. 

 AN 18-YEAR-OLD MUST BE ABLE TO MANAGE ASSIGNMENTS, WORKLOADS AND DEADLINES.
AN 18-YEAR-OLD MUST BE ABLE TO CONTRIBUTE TO THE RUNNING OF A HOUSEHOLD.
AN 18-YEAR-OLD MUST BE ABLE TO HANDLE INTERPERSONAL PROBLEMS.

AN 18-YEAR-OLD MUST BE ABLE TO COPE WITH UPS AND DOWNS. 

AN 18-YEAR-OLD MUST BE ABLE TO EARN AND MANAGE MONEY.

AN 18-YEAR-OLD MUST BE ABLE TO TAKE RISKS.

It got me to thinking, if a class on economics was designed correctly, we can teach all of these skills. 

Economics Review Games

If you are looking for some great economics review games, check out this website. In addition to the review games, there are explanations of concepts and graphs. This is a one-stop-shop to all things economics.  

National CEE Conference

For those who are both new to teaching economics and veteran teachers, I would suggest looking into attending the 56th annual financial literacy and economic education conference put on by the National Council for Economic Education. There are a number of extremely helpful workshops as well a teachers and councils from around the country there to learn from. Click here to attend. If you need help raising funds, they have set up a Crowdfunding page here. If you are able to attend, I would strongly suggest it. You will get almost more resources than you know what to do with.