Grades 9-12
Grade 9-12
,
Lesson
Can You Allocate Ethically?
Objective
The student will be able to:
- identify several methods of resource allocation.
- evaluate allocation methods.
- apply allocation methods to a real-world scenario.
Standard
National Standards in Economics
Decision Making
Standard: 2
- Students will understand that: Effective decision making requires comparing the additional costs of alternatives with the additional benefits. Many choices involve doing a little more or a little less of something: few choices "are all or nothing" decisions.
- Students will be able to use this knowledge to: Make effective decisions as consumers, producers, savers, investors, and citizens.
Incentives
Standard: 4
- Students will understand that: People usually respond predictably to positive and negative incentives.
- Students will be able to use this knowledge to: Identify incentives that affect people's behavior and explain how incentives affect their own behavior.
Scarcity
Standard: 1
- Students will understand that: Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
- Students will be able to use this knowledge to: Identify what they gain and what they give up when they make choices.
Concepts
Description
In this lesson from the Ethics, Economics, and Social Issues curriculum, students start the lesson by brainstorming ways to allocate a scarce, highly desirable good within a small group.
After a brief discussion, students explore eight different allocation methods and examine each, exploring how values could impact each method.
Students will then apply this information to historical examples, matching the allocation method to the event.
Lastly, they will apply the allocation methods by distributing hours to new hires at a coffee shop for a real-world application.
Resources
Related Resources
In this economics and ethics guide, students will use the ethical and economic way of thinking to examine the choices...
Key Concepts: Decision Making
Grades 9-12
Should We Allow a Market for Transplant Organs?
Should you be able to sell your kidney? Students explore the ethics and economics of organ donation while learning about...
Key Concepts: Allocation, Decision Making, Markets and Prices…
60 mins
Lesson
Content Partner
Grades 6-8
Dinner Discussions at Maggie Walker's House
Students study historic objects, photographs and documents, research influential members of the African American community and role-play a dinner party...
Key Concepts: Banking, Decision Making, Entrepreneurship…
3 class periods
Lesson
Grades 9-12
Does Self-Interest Prevent Economic Justice?
In Lesson #7 0f the Ethics, Economics, and Social Issues curriculum, students explore basic ideas of justice by examing government...
Key Concepts: Decision Making/Cost-Benefit Analysis, Incentives, Veil of Ignorance
60 mins
Lesson