Unit 1: An Introduction to Microeconomics
Duration of Days: 8
Students will know foundational economic concepts including scarcity, choice, opportunity cost, rational behavior, marginal analysis, production possibilities, efficiency, the law of increasing opportunity cost, the market system, the invisible hand, and circular flow.
Students will interpret economic models, compare microeconomics and macroeconomics, analyze tradeoffs, explain incentives, apply marginal thinking, construct and interpret production possibilities curves, and explain how markets coordinate economic activity.
Students will demonstrate understanding through practice activities, written responses, class discussion, graphing tasks, model interpretation, quizzes, and unit-level assessment.
| Lesson # | Lesson Title | Duration of Days |
|---|---|---|
| 1 | Foundations of Economic Thinking | 2 |
| 2 | Economic Models and Production Possibilities | 3 |
| 3 | Markets, the Invisible Hand, and Circular Flow | 2 |
| 4 | Unit Synthesis and Assessment | 1 |