Lesson 2 What is Economics?
Learning Goals: By the end of this lesson you will be able to
•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 is the difference between positive and normative economics?
Specific expectation
B1.2 explain, using both normative and positive economic analysis, the interrelationship between needs/wants, production decisions, and consumer choices and decisions.
A1 Economic inquiry
Comparing Analytical and Normative Economics
Students to complete this after you've finished all activities/tasks in today's lesson.