Economics for Everyone

(not just economists)

Introduction

Too many times economics textbooks are written as if they are for the author, not the reader. Full of ideas and theories, they don't apply them to the everyday world, the everyday situation, the everyday person, showing the reader why the information contained in them is important or how it relates to his or her life. This online textbook will do just that using real life examples that demonstrate why Economics is important to everyone. You can scroll to the bottom of this page and find a link to the online textbook.

OUTCOMES/GOALS OF THIS ONLINE TEXTBOOK

  • The students will be able to demonstrate an understanding of the facts by summarizing everyday situations in economic terms.
  • The students will be able to apply knowledge to actual situations, discovering how economics applies to everyday situations.
  • The students will be able to analyze different real life situations from an economic perspective and compare and contrast them.
  • The students will be able to synthesize and assemble economic information and develop their own economic explanations or solutions to problems.
  • The students will be able to evaluate different economic ideas/explanations and defend their ideas.


Link to Bloom's Taxonomy:

http://www.clemson.edu/assessment/assessmentpractices/referencematerials/documents/Blooms%20Taxonomy%20Action%20Verbs.pdf


Anticipation Guide

Directions: Each of the following statements is connected in some way to your Economics course. Note whether or not you agree with the statement and following the statement discuss your reasoning. As you read the texts for this course re-read the statements and mark whether or not your opinion for each statement changes.

Statement 1: Because it is limited in supply, polio is scarce.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 2: The main cost of going to college is tuition, room and board.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 3: The U.S. Constitution is a political document.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 4: If someone makes an economic gain, someone else loses.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 5: If mass transportation fares are raised, almost everyone will take the trains anyway.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 6: You get what you pay for.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 7: If one nation produces everything better than another nation, there is no economic reason for these two nations to trade.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 8: Oil companies can charge whatever they want to for gasoline.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 9: In a free market offers limited opportunities to acquire wealth.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?

Statement 10: A business owner’s decision to show more care for consumers is a decision to accept lower levels of profits.

Level of agreement:

Strongly Agree Agree Somewhat Disagree Somewhat Strongly Disagree

Reasoning before reading (A sentence or two):

Did your level of agreement change due to the reading assignment? Why or why not (A sentence or two)?


STANDARDS ADDRESSED BY THIS TEXTBOOK

Content Area Standards (http://www.p12.nysed.gov/ciai/pub/standards.pdf)

Standard 4: Economics Students will use a variety of intellectual skills to demonstrate their understanding of how the United States and other societies develop economic systems and associated institutions to allocate scarce resources, how major decision-making units function in the United States and other national economies, and how an economy solves the scarcity problem through market and nonmarket mechanisms.


ELA Common Core Standards (http://www.corestandards.org/ELA-Literacy/RH/11-12)

Key Ideas and Details

• CCSS.ELA-Literacy.RH.11-12.1 Cite specific textual evidence to support analysis of primary and secondary sources, connecting insights gained from specific details to an understanding of the text as a whole.

• CCSS.ELA-Literacy.RH.11-12.2 Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.

• CCSS.ELA-Literacy.RH.11-12.3 Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence, acknowledging where the text leaves matters uncertain.

Integration of Knowledge and Ideas

• CCSS.ELA-Literacy.RH.11-12.7 Integrate and evaluate multiple sources of information presented in diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address a question or solve a problem.

Range of Reading and Level of Text Complexity

· CCSS.ELA-Literacy.RH.11-12.10 By the end of grade 12, read and comprehend history/social studies texts in the grades 11–CCR text complexity band independently and proficiently.


Technology Standards (http://www.iste.org/standards/nets-for-students/nets-student-standards-2007)

Research and Information Fluency

Students apply digital tools to gather, evaluate, and use information. Students:

· plan strategies to guide inquiry.

· locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media.

· evaluate and select information sources and digital tools based on the appropriateness to specific tasks.

· process data and report results.

Critical Thinking, Problem Solving, and Decision Making

Students use critical thinking skills to plan and conduct research, manage projects, solve problems, and make informed decisions using appropriate digital tools and resources. Students:

· identify and define authentic problems and significant questions for investigation.

· plan and manage activities to develop a solution or complete a project.

· collect and analyze data to identify solutions and/or make informed decisions.

· use multiple processes and diverse perspectives to explore alternative solutions.

Technology Operations and Concepts

Students demonstrate a sound understanding of technology concepts, systems, and operations. Students:

· understand and use technology systems.

· select and use applications effectively and productively.


Information Literacy Standards (http://www.ala.org/aasl/sites/ala.org.aasl/files/content/guidelinesandstandards/learningstandards/AASL_Learning_Standards_2007.pdf)

1: Inquire, think critically, and gain knowledge.

1.1 Skills

1.1.1 Follow an inquiry-based process in seeking knowledge in curricular subjects, and make the real-world connection for using this process in own life.

1.1.2 Use prior and background knowledge as context for new learning.

1.1.3 Develop and refine a range of questions to frame the search for new understanding.

1.1.4 Find, evaluate, and select appropriate sources to answer questions.

1.1.5 Read, view, and listen for information presented in any format (e.g., textual, visual, media, digital) in order to make inferences and gather meaning.

1.1.7 Make sense of information gathered from diverse sources by identifying misconceptions, main and supporting ideas, conflicting information, and point of view or bias.

1.1.8 Demonstrate mastery of technology tools for accessing information and pursuing inquiry.

1.2 Dispositions in action

1.2.1 Display initiative and engagement by posing questions and investigating the answers beyond the collection of superficial facts.

1.2.2 Demonstrate confidence and self-direction by making independent choices in the selection of resources and information.

1.2.3 Demonstrate creativity by using multiple resources and formats.

1.2.4 Maintain a critical stance by questioning the validity and accuracy of all information.

1.2.5 Demonstrate adaptability by changing the inquiry focus, questions, resources, or strategies when necessary to achieve success.

1.3 Responsibilities

1.3.1 Respect copyright/ intellectual property rights of creators and producers.

1.3.2 Seek divergent perspectives during information gathering and assessment.

1.3.3 Follow ethical and legal guidelines in gathering and using information.

1.3.5 Use information technology responsibly.

1.4 Self-assessment Strategies

1.4.1 Monitor own information-seeking processes for effectiveness and progress, and adapt as necessary.

1.4.2 Use interaction with and feedback from teachers and peers to guide own inquiry process.

1.4.3 Monitor gathered information, and assess for gaps or weaknesses.

1.4.4 Seek appropriate help when it is needed.

2: Draw conclusions, make informed decisions, apply knowledge to new situations, and create new knowledge.

2.1 Skills

2.1.1 Continue an inquiry-based research process by applying critical-thinking skills (analysis, synthesis, evaluation, organization) to information and knowledge in order to construct new understandings, draw conclusions, and create new knowledge.

2.1.2 Organize knowledge so that it is useful.

2.1.3 Use strategies to draw conclusions from information and apply knowledge to curricular areas, real-world situations, and further investigations.

2.2 Dispositions in action

2.2.1 Demonstrate flexibility in the use of resources by adapting information strategies to each specific resource and by seeking additional resources when clear conclusions cannot be drawn.

2.2.2 Use both divergent and convergent thinking to formulate alternative conclusions and test them against the evidence.

2.2.3 Employ a critical stance in drawing conclusions by demonstrating that the pattern of evidence leads to a decision or conclusion.

2.2.4 Demonstrate personal productivity by completing products to express learning.

2.3 Responsibilities

2.3.1 Connect understanding to the real world.

2.3.2 Consider diverse and global perspectives in drawing conclusions.

2.3.3 Use valid information and reasoned conclusions to make ethical decisions.

2.4 Self-assessment Strategies

2.4.1 Determine how to act on information (accept, reject, modify).

2.4.2 Reflect on systematic process, and assess for completeness of investigation.

2.4.3 Recognize new knowledge and understanding.

2.4.4 Develop directions for future investigations.

3: Share knowledge and participate ethically and productively as members of our democratic society.

3.1 Skills

3.1.1 Conclude an inquiry-based research process by sharing new understandings and reflecting on the learning.

3.1.3 Use writing and speaking skills to communicate new understandings effectively.

3.1.4 Use technology and other information tools to organize and display knowledge and understanding in ways that others can view, use, and assess.

3.1.5 Connect learning to community issues.

3.1.6 Use information and technology ethically and responsibly.

3.2 Dispositions in action

3.2.1 Demonstrate leadership and confidence by presenting ideas to others in both formal and informal situations.

3.3 Responsibilities

3.3.1 Solicit and respect diverse perspectives while searching for information, collaborating with others, and participating as a member of the community.

3.3.2 Respect the differing interests and experiences of others, and seek a variety of viewpoints.

3.3.4 Create products that apply to authentic, real-world contexts.

3.3.5 Contribute to the exchange of ideas within and beyond the learning community.

3.3.6 Use information and knowledge in the service of democratic values.

3.3.7 Respect the principles of intellectual freedom.

3.4 Self-assessment Strategies

3.4.1 Assess the processes by which learning was achieved in order to revise strategies and learn more effectively in the future.

3.4.2 Assess the quality and effectiveness of the learning product.

4: Pursue personal and aesthetic growth

4.1 Skills

4.1.1 Read, view, and listen for pleasure and personal growth.

4.1.2 Read widely and fluently to make connections with self, the world, and previous reading.

4.1.3 Respond to literature and creative expressions of ideas in various formats and genres.

4.1.4 Seek information for personal learning in a variety of formats and genres.

4.1.5 Connect ideas to own interests and previous knowledge and experience.

4.1.6 Organize personal knowledge in a way that can be called upon easily.

4.1.7 Use social networks and information tools to gather and share information.

4.1.8 Use creative and artistic formats to express personal learning.

4.2 Dispositions in action

4.2.1 Display curiosity by pursuing interests through multiple resources.

4.2.3 Maintain openness to new ideas by considering divergent opinions, changing opinions or conclusions when evidence supports the change, and seeking information about new ideas encountered through academic or personal experiences.

4.2.4 Show an appreciation for literature by electing to read for pleasure and expressing an interest in various literary genres. (HOPEFULLY!)

4.3 Responsibilities

4.3.1 Participate in the social exchange of ideas, both electronically and in person.

4.3.2 Recognize that resources are created for a variety of purposes.

4.3.4 Practice safe and ethical behaviors in personal electronic communication and interaction.

4.4 Self-assessment Strategies

4.4.1 Identify own areas of interest.

4.4.2 Recognize the limits of own personal knowledge.

4.4.3 Recognize how to focus efforts in personal learning.

4.4.4 Interpret new information based on cultural and social context.

4.4.6 Evaluate own ability to select resources that are engaging and appropriate for personal interests and needs.

text

HERE'S A LINK TO THIS ONLINE TEXTBOOK'S CONTENT