Unit 1: Introduction to Economics
This is where it all begin. I will attempt to change the way you think about making decisions, how you plan for your choices, and how you look at everything. In this unit we will introduce the fundamental ideas of economics: Scarcity and Opportunity Costs. We will see that since we cannot have everything (we individually, and we as a society) we have to make choices. Our resources are limited and therefore we must be strategic on how we utilize them.
Study Tools
Slideshows
The slideshows are best when viewed full screen.
Do You Think Like an Economist
The Economic Way of Thinking
Vocabulary
Link to Quizlet! Vocabulary is the key to understanding any subject. Once you can break down the barrier of language the ideas and concepts are wide open. Here you can find the vocabulary for the unit to practice by using online flash cards and by practicing online generated vocabulary quizzes.
Introduction to Economics
- Introduction to Economics Vocabulary Quiz on Quizlet.
Practice the vocabulary by trying this quiz.
When you get to the Quizlet Quiz page, you can adjust what type of quiz to take by clicking the "Options" link on the bottom left.
Videos
Crash Course Economics #1: Intro to Economics
In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started!
Economics Made Memorble
This 10 minute Video is the first half of a demonstration on Rational Decision Making using the concepts of Opportunity Costs, Trade-offs, and Cost-Benefit Analysis.
Another 10 minutes to show the conclusion of the first video... will he go to the BC football game next week? Before we can find out, we have to discover the benefit received by going to the game.