ECONOMICS

 

The 10 economic principles are highlighted in the resources found here. Sound Judgment, one of YE’s Foundational Values, cannot be present without basic knowledge of them! Plus, because they are activities-based, they’ll make teaching econ fun and engaging for your students!

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Paper Airplane Factory

by Youth Entrepreneurs

This activity engages students in the process of rapid prototyping, while facing challenges like scarcity and risk. Explore how to bring the Paper Airplane Factory to life in your classroom.
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The Trading Game

by Youth Entrepreneurs

The Trading Game engages students in a trading simulation designed to illustrate a complex marketplace in which goods and services are traded. Through several rounds of trade, students will see that the broader their access to trade, and the more choices they have for solutions to their problems, the greater their satisfaction.
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Boneyard

by Youth Entrepreneurs

The Boneyard experience teaches students about communication and competition. Explore how to lead your class through the activity and teach market principles throughout.
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PIT - Just the Basics

by Youth Entrepreneurs

Pit is a fast-paced card game designed to simulate open outcry bidding for commodities. We use the game as a way for students to learn about trade and simple negotiations, and focus on the economic principle of comparative advantage.
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Towers

by Youth Entrepreneurs

Towers is a game that demonstrates the importance of both doing business profitably and also doing it “the right way.” After completing Towers, students better understand the importance of conducting business using the Foundational Values to create long-term value.
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Tennis Ball Factory

by Youth Entrepreneurs

This experiment uses student participation to teach the concept of diminishing marginal returns. Students are told they will be the employees in a widget factory. This game works equally well in small classes (less than 30 students) and also large lectures (more than 250 students). You will need enough space to place the buckets 16-20 feet apart. If you do not have a large room, you may want to complete the activity in the hallway, outside or in the gym.
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I, Pencil

by Youth Entrepreneurs

I, Pencil offers teachers the opportunity to reiterate many of the themes of previous lessons, but with a specific emphasis on the market process, the invisible hand, spontaneous order, and voluntary cooperation. The key text for this lesson is Leonard Read’s “I, Pencil” essay, which helps demonstrate how markets coordinate the actions of thousands of free individuals through market prices and incentives.
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Bead-Ville

by Youth Entrepreneurs

Students will have the opportunity to participate in the three basic economic systems. By working in each of the systems, students internalize the fundamental values present in each system. They also gain insights into the basic advantages and disadvantages of each system.
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10 Economic Principles

by Youth Entrepreneurs

Youth Entrepreneurs follows ten economic principles that we believe are crucial for students to understand in pursuing their entrepreneurial ventures. In tandem with our Foundational Values, these principles are the platform for success in economics. Our Economic Principles include the Four S’s, the Four Market Measures, and Ricardo’s Law of Comparative Advantage. Watch these videos to learn why these principles are so important and get tips on how to teach them.
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