Lesson 1 - What is Economics?
Once you have completed this topic, you should be able to:
- Realize the importance of economics as a social science
- Understand the purpose and benefit of economic thinking
- Recognize that choices express priorities and have different types of consequences
- Begin thinking like an economist
- Use models to focus and direct economic decision making
Success criteria
Students will be able to understand different types of questions to guide investigations into current national and global economic issues (e.g., factual questions; comparative questions: and causal questions.
Understand using both normative and positive economic analysis.
What do you think is the difference between natural science and social science?- effective (use of resources)
- priority
- consequence
- efficient (use of resources)
- economize
- economics
- social science
- stakeholder
- scientific method
- economy
- anlytical (or positive) economic
- normative (or policy) economics
- utility
- util
- Post the definition of the Economics terms here.
Students to complete this after you've finished all activities/tasks in today's lesson.