Objective
In this session teachers will be able to:
- Use cost-benefit analysis to make decisions.
- Examine how a society’s productive resources are utilized to create goods and services.
- Evaluate how market prices are determined through the interaction of supply and demand.
- Evaluate the impact of different market structures on market output, price, and economic welfare.
Standards
Description
The morning session will begin with a series of content drive lectures and discussions. Teachers will gain a solid foundation in microeconomics by investigating the basics of cost-benefit analysis and the use of productive resources, and the role they play in our everyday lives, and its significance in shaping policies and business decisions. In the second portion of this session, participants will dive into the fundamentals of supply and demand, exploring the forces that drive them and the ways in which they interact to determine market equilibrium, prices, and quantities.