Author: Nicholas Scarmozzino

Objective: Students will explore the concept of comparative advantage and how specialization based on relative efficiencies creates economic gains. They will analyze how individuals and nations pursuing their self-interest through specialization can lead to broader societal benefits.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. …

Read more “The Efficiencies of Comparative Advantage and Specialization: Society Gains from Self-Interest”

Objective: Students will explore Adam Smith’s concept of self-interest and its role in promoting societal benefits. They will analyze how individual pursuits can lead to collective prosperity and understand the distinction between self-interest and selfishness.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. Concept Application …

Read more “The Virtues of Self-Interest: Insights from Adam Smith’s The Wealth of Nations”

Objective: Students will explore how decisions about resource allocation today can influence future production possibilities. They will analyze the tradeoffs between consumption and investment and understand how these choices drive long-term economic growth and shift the Production Possibilities Curve (PPC) outward.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group …

Read more “Risk vs. Reward: Decision-Making Under Uncertainty”

Objective:Students will explore how decisions about resource allocation today can influence future production possibilities. They will analyze the tradeoffs between consumption and investment and understand how these choices drive long-term economic growth and shift the Production Possibilities Curve (PPC) outward. Materials Needed: Lesson Steps: 1. Introduction (10 minutes): 2. Viewing Clip (5 minutes): 3. Group …

Read more “Today’s Choices, Tomorrow’s Possibilities: The PPC and Economic Growth”

Objective: Students will understand how economic growth leads to an outward shift of the Production Possibilities Curve (PPC). They will analyze the factors that contribute to economic growth, such as investment in capital, technological progress, and resource availability, and explore real-world examples.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. …

Read more “Economic Growth and Expanded Production Possibilities”

Objective:Students will analyze opportunity cost and marginal analysis by exploring how individuals and organizations make tradeoffs when resources are limited. They will apply these concepts to real-world decisions and evaluate their implications, including situations where decisions involve choosing the least bad of two poor options. Materials Needed: Lesson Steps: 1. Introduction (10 minutes): 2. Viewing …

Read more “Opportunity Cost and Marginal Analysis: Making Tradeoffs”

Objective: Students will analyze the labor-leisure tradeoff and the role of intrinsic (nonmonetary) compensation in career and life decisions. They will examine how individuals weigh financial incentives against personal values, fulfillment, and time.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. Concept Application (20 minutes):  …

Read more “Labor vs. Leisure: Tradeoffs and Intrinsic Motivation”

Objective: Students will analyze the concepts of callable loans, refinancing, and sovereign debt, exploring how these financial instruments impact borrowers and lenders in terms of risk, strategy, and long-term economic implications.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. Concept Application (20 minutes):  5. Wrap-Up …

Read more “Managing Debt: Callable Loans, Refinancing, and Sovereign Debt”

Objective: Students will explore the role of reputation and underlying creditworthiness in securing credit. They will analyze how these factors influence borrowing costs, availability, and the broader financial implications for individuals, corporations, and governments.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. Concept Application (20 …

Read more “Reputation and Credit- The Weight of Trust in Financial Markets”

Objective: Students will explore the concept of coalition bonds as a metaphor for trust-based investments, analyzing how trust, risk, and the cost of broken promises influence financial and economic outcomes.  Materials Needed:  Lesson Steps:  1. Introduction (10 minutes):  2. Viewing Clip (5 minutes):  3. Group Discussion (15 minutes):  4. Concept Application (20 minutes):  5. Wrap-Up and …

Read more “Coalition Bonds and Investment Trust”