playful economics

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Playful Economics

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Playful Economics. Laura Ewing. President/CEO Texas Counci l on Economic Education (TCEE) www.economicstexas.org [email protected] 713-655-1650. Laura Ewing. President/CEO Texas Counci l on Economic Education (TCEE) www.economicstexas.org [email protected] 713-655-1650. - PowerPoint PPT Presentation

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Page 2: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]

Page 3: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]

Page 4: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]

Page 5: Playful Economics

TCEE STATE CONFERENCEHotel Contessa, Riverwalk in San AntonioJune 16-17, 2014 ElementaryJune 17-18 SecondaryAudience:

K to 8 Math PFL TeachersK to 12 Economics Strand

Social StudiesSecondary CTEEconomics Teachers

$160 covers registration, 4 meals and reception

Page 6: Playful Economics

National CEE ConferenceOctober 10-12, 2014Dallas TexasNational and Texas Based PresentationsCost approximately $150 and includes several meals

Page 7: Playful Economics

Texas Essential Knowledge and SkillsEconomics and Play Dough EconomicsDescribe how the free

enterprise system works

Page 8: Playful Economics
Page 9: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]

Page 10: Playful Economics

Lesson 12:Market Price II

Market Price: Changes in Supply and Demand

Page 11: Playful Economics

Concepts of the USFree Enterprise

Economic System•How do changes in demand affect market price?

•How does the market price guide what producers or suppliers produce?

Page 12: Playful Economics

Concepts of the Texas/USFree Enterprise

Economic System•Why must costs be subtracted from revenues to determine profits?

•How can certain events cause costs to change, which can affect profits?

Page 13: Playful Economics

Market Price Focus

1. What is meant by demand?2. What are three things you demand

economically?3. How much will you pay for them?4. What determines if you demand/buy

them?

Page 14: Playful Economics

Market Price Competition

1. We will divide into factories with 4 to 6 workers in each factory.

2. Choose a production manager.3. Choose an accountant

Page 15: Playful Economics

Production Rounds

1. There will be 3 rounds of 5 minutes each.2. You will produce any amount, but at least

one of the apple, hammer, shirt and cup/saucer in 2 inch dimensions.

3. Each product must have 2 colors.

Page 16: Playful Economics

Production Rounds

1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many

as possible.

Page 17: Playful Economics

Get Your Play Dough

Page 18: Playful Economics

Production Rounds

1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many

as possible.

Page 19: Playful Economics

Time IS UP!

1. Count the quantity produced of each product.2. Record the quantities on the “Revenues

Worksheet”3. We will do a class total.4. We will draw a demand card.5. We will determine prices and factory earnings.

Page 20: Playful Economics

Supply, Demand and Market Price Chart

Goods Supplied by Class

Resulting Market

Price With NO

Change in Demand

Resulting Market

Price with Decrease

in Demand

Resulting Market

Price with Increase in

Demand

0-8 $10 $8 $13

9-12 $7 $5 $10

13-16 $5 $3 $7

17-20 $3.50 $2 $4

Over 20 $2 $1 $3

Page 21: Playful Economics

Between The Rounds

1. Tally your round one results2. Plan your production strategy for

round 2.3. The production manager has the final

authority on what to produce.

Page 22: Playful Economics

Get Your Play Dough

Page 23: Playful Economics

Production Rounds

1. Each product must have 2 colors.2. You may only use your hands – no capital.3. You may specialize.4. Produce at least one of each but as many

as possible.

Page 24: Playful Economics

Time IS UP!

1. Count the quantity produced of each product.2. Record the quantities on the “Revenues

Worksheet.3. We will do a class total.4. We will draw a demand card.5. We will determine prices and factory earnings.

Page 25: Playful Economics

Supply, Demand and Market Price Chart

Goods Supplied by Class

Resulting Market

Price With NO

Change in Demand

Resulting Market

Price with Decrease

in Demand

Resulting Market

Price with Increase in

Demand

0-8 $10 $8 $13

9-12 $7 $5 $10

13-16 $5 $3 $7

17-20 $3.50 $2 $4

Over 20 $2 $1 $3

Page 26: Playful Economics

Process1. What patterns do you see in the Supply,

Demand, and Market Price Chart?2. In a market, what two things are needed

for a price to be determined?3. What caused price to change?

Page 27: Playful Economics

More Process4. How did price influence

your production decisions?

5. How did other groups influence your strategy and plans?

Page 28: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]

Page 29: Playful Economics

Process1. What trends do you see ?2. What are three things you have learned

about how the market or free enterprise system operates?

3. What concepts and TEKS would this activity teach?

Page 30: Playful Economics

Laura EwingPresident/CEOTexas Council on Economic Education (TCEE)

www.economicstexas.org [email protected]