NATIONAL COUNCIL ON
ECONOMIC EDUCATION
VOLUME 3 ISSUE 3
E C O N E D L E T T E R
MARCH, 2002
E C O N O M I C D A T A I S I M PO R T A N T T O E C O N E D L I N K
INSIDE THIS ISSUE:
WAGES AND
ME
2
COUNTRY
MOUSE MAKES
A DECISION!
2
I S G L O B A L I Z ATION A DIRTY
2
WHY IS PROFIT
A COST OF
PRODUCTION?
3
VISIT THE
NCEE STORE
3
A CASE
STUDY:
UNITED
STATES INTER NATIONAL
TRADE IN
GOODS AND
SERVICES APRIL 2002
3
ECONOMIC
SPOTTER:
TRADE IN COL LONIAL HISTORY
4
EconEdLink is a program of the National Council on Economic Education
and a member of the
MarcoPolo consortium.
EconEdLink provides a premier source of classroomtested, internet-based economic lesson materials for K12 teachers and their students.
EconEdLink has a section that
provides up-to-date macroeconomics data for classroom
use. This section also provides
primary source material,
charts, simulations, and links
to original sources.
This section is called DataLinks and can be found at the following URL:
http://www.econedlink.org/datalinks/index.cfm
SPECIAL POINTS OF
INTEREST:
2002 NATIONAL COUNCIL ON ECONOMIC EDUCAT ION / NATIONAL
ASSOCIATION OF ECONOMIC EDUCATORS ANNUAL CONFERENCE
Check out Financial
Fitness for Life
On October 9 – 12, 2002 the California Council on Economic Education will
host the Annual Conference in San Diego, CA For more information visit the
at
http://fffl.ncee.net/
conference web site at:
http://www.ncee.net/conf/
VOLUME 3 ISSUE 3
Page 2
WAGES AND ME
Students will:
• Explain that supply and demand are the primary factors in determining wages.
• Identify several specific factors that affect wage rates.
• Explore wage rates in their potential careers.
• Analyze why wage rates in their states may differ from the national
average wage for their career.
A GREAT lesson for 9-12 students.
http://www.econedlink.org/lessons/index.cfm?lesson=EM305
COUNTRY MOUSE MAKES A DECISION!
We make decisions every day! It helps to know the COSTS and BENEFITS of
a decision before we decide to do something. The story in this lesson tells
us about a mouse who lived in the country but went to the
city to visit. He had to decide if he wanted to stay in the
town or go home to the country.
Check out
the NEW
lessons
A GREAT lesson for K-2 students.
http://www.econedlink.org/lessons/index.cfm?lesson=EM294
IS GLOBALIZATION A DIRTY WORD?
Is globalization a dirty word? Not according to a recent study conducted by the
World Bank. The report, entitled Globalization, Growth, and Poverty: Building an
Inclusive World Economy, makes the case for globalization as a method for easing poverty in the world’s poor countries. What do you think? In this lesson you
will access several types of information about the World Bank report, including a
video file, a PowerPoint slide show, and a press release. Your objective is to determine the benefits of globalization and also to consider the costs or disadvantages of globalization.
A GREAT lesson for 9-12 students.
http://www.econedlink.org/lessons/index.cfm?lesson=EM274
posted on
EconEdLink
VOLUME 3 ISSUE 3
Page 3
FREQUENTLY ASKED ECONOMIC QUESTIONS
Q. Why is profit a cost of production?
A. More than one half of all new companies fail in their first two years. Entrepreneurs
starting new companies take great risk with their financial investment as well as their
time. Profit is the income earned by the entrepreneur. If a person chooses to remain
an employee throughout his career and not take the risk of starting a business, he
Profit is the
cannot earn the profit that is the reward for his bearing risk.
By : Lynn Huselton
Plano East Senior High
Plano, TX
income
earned by
the
VISIT THE NCEE STORE ON LINE
The NCEE Store contains the same great publications that you'll find in our catalog as
well as additional information on each of the publications.
http://store.ncee.net/
A C A S E S T U D Y : U N I T E D S T A T E S I N T E R N A T I O N AL
TRADE IN GOODS AND SERVICES - APRIL 2002
Announcement
The U.S. international trade deficit in goods and services increased by $3.3 billion to
$31.5 billion in February from a revised $28.2 billion
in January as imports increased by $4.2 billion and
exports increased by $1.0 billion
A GREAT lesson for 9-12 students.
http://www.econedlink.org/lessons/index.cfm?lesson=EM224
entrepreneur.
WE are on the web!
http://www.ncee.net
NATIONAL COUNCIL ON
ECONOMIC EDUCATION
Technology Office
215 N. 8th Street
Suite 215
Lincoln, NE 68508
We are a unique nonprofit partnership of leaders in
education, business and labor devoted to helping
youngsters learn to think, to choose and to function in
a changing global economy.
We were founded in 1949, and today we are the premier source of teacher training and materials used to
instill an
understanding of economic principles for grades kindergarten through twelve.
Phone: 402-438-6929
Fax: 402-438-6867
We are a nationwide network of state councils and
over 260 university-based centers called
EconomicsAmerica.
Email: jlefeber@ncee.net
E C O N O M I C
E D U C A T I O N
We are also an international economics training initiative called EconomicsInternational, which carries our
market principles to the world. Through this vital network we carry out our mission with vigor, integrity and
demonstrated success.
ECONOMIC SPOTTER: TRADE IN COLONIAL HISTORY
Would you like to go back in history in a time machine? Would you
be able to spot economic concepts? We know that economics helped
shape our history, but can you recognize those concepts when you
read about history? You are going to take a time machine back to
Boston Harbor in 1680. Your job is to be an economic spotter and
see if you can recognize trade as it happened in 1680.
Students will:
•
•
Define the concept of exchange.
Find examples of economic specialization within a story.
A GREAT lesson for 3-5 students.
http://www.econedlink.org/lessons/index.cfm?lesson=EM301