👩 Teacher’s Guide

🎯 Objective

Students will be able to:

• Explain that doing economics involves asking questions, forming hypotheses, and using evidence
• Describe basic tools economists use: graphs, data, models, and comparisons
• Practice reasoning with costs, benefits, and opportunity costs

📝 Teaching Notes

• Key idea to emphasize: Economics is a way of thinking—ask 'compared to what?' and 'what are the trade-offs?'
• Common misconception: Economics is only math and formulas
• Suggested teaching approach:
  • Run a mini-experiment: offer two small rewards and observe choices
  • Real-life connection: compare two phone plans using costs and benefits

💬 Discussion Starter

Ask students:

• If you could change one rule at school, what economic effects might it have?
• When you see a 'sale' sign, what questions should you ask before buying?

🧒 Student Worksheet

Concept and Helping Material

This topic explains:

• Start with a clear question (What will happen if…?)
• Make a hypothesis (a testable prediction) based on incentives and constraints
• Collect and analyze data (surveys, prices, quantities, experiments, or existing statistics)
• Compare outcomes and revise your explanation if the evidence disagrees

Why it matters:

• Doing economics helps you evaluate decisions and arguments using evidence, not just opinions.

Vocabulary and Definitions

• — A testable prediction about what will happen
• — Information collected to measure and test ideas
• — Comparing the costs of an action with its benefits
• — The effect of a small additional change (one more unit)
• — A structured test where conditions are controlled to learn what causes what

Samples (Examples + Short Analysis)

Sample 1 Comparing two snack options
Scenario: A student chooses between a $2 snack that is filling and a $1 snack that is small.
Analysis:

Sample 2 Testing a longer lunch period
Scenario: A school extends lunch by 10 minutes to reduce cafeteria crowding.
Analysis:

Sample 3 Deciding whether to buy a monthly pass
Scenario: A commuter can pay per ride or buy a monthly transit pass.
Analysis:

Practice Questions (QA)

1. What is a hypothesis?
2. Name two kinds of data economists might use.
3. What is cost-benefit analysis?
4. What does 'marginal' mean in economics?
5. Why is 'compared to what?' an important question?
6. How could you study whether a sale increases purchases?
7. What is an example of an opportunity cost in a study plan?
8. Why might an experiment be useful in economics?
9. What should you do if evidence contradicts your hypothesis?
10. How is doing economics different from having an opinion?

Reflection

• Choose a decision you face this week and write one cost and one benefit.
• What small 'marginal' change could improve your daily routine?