Curated OER
Inside the Vault-Entrepreneurship
Learners explore entrepreneurship. In this economic study lesson, students take a pretest on attitudes, review characteristics that make up an entrepreneur, review a list of famous entrepreneurs, and create a 5 minute oral presentation...
Curated OER
The International Way of Thinking
In this International Way of Thinking worksheet, students write answers to questions about basic economic concepts as well as using a chart about production.
Curated OER
The Hatfields and the McCoys
In this Hatfields and McCoys worksheet, students read a short passage and then answer questions and solve problems based on the reading.
Robert Schenk, PhD
Cyber Economics: Comparative Advantage
Article with charts and links to related material discusses how free trade is a result of comparative advantage, and how consumers can consume beyond their original production possibilities frontier if they specialize and trade.
Sophia Learning
Sophia: The Production Possibilities Frontier
Through a series of videos and notes, lesson gives students a better understanding of the production possibilities curve and how it applies to economics.
Department of Defense
Do Dea: The United States and Globalization
This self-guided unit addresses the economic interdependence of communities and countries across the globe and the economic development that is taking place. Included are lessons, self-assessments, background information, and learning...
![Complex Dynamics in a Model of Economic Specialization [Pdf] Activity](https://d15y2dacu3jp90.cloudfront.net/images/attachment_defaults/resource/large/FPO-knovation.png "Complex Dynamics in a Model of Economic Specialization [Pdf] Activity")
University of Washington
Complex Dynamics in a Model of Economic Specialization [Pdf]
This article provides an in-depth study of how and why there is specialization by workers in an economy, with considerable attention given to the philosophies of Adam Smith.
Library of Economics and Liberty
Library of Economics and Liberty: Comparative Advantage
This article provides a thorough examination of comparative advantage, absolute advantage, and opportunity cost, and how these three terms are related.
Sophia Learning
Sophia: Trade and Comparative Advantage
Through illustrated notes and a related video, students will gain an understanding of comparative advantage and why trade is beneficial. [4:10]
Council for Economic Education
Econ Ed Link: Frontier Specialists
The level of output in an economy can be increased through specialization. Economic specialization occurs when people produce different goods and services than they consume. It requires people to exchange goods and services.
Council for Economic Education
Econ Ed Link: Nafta: Are Jobs Being Sucked Out of the United States?
NAFTA, the North American Free Trade Agreement, went into effect on January 1, 1994. The Agreement phases out most tariffs between the United States, Canada, and Mexico. Tariffs, which are taxes on imports, increase the price of foreign...
Council for Economic Education
Econ Ed Link: Should Le Bron James Mow His Own Lawn?
This instructional activity will discuss absolute advantage, comparative advantage, specialization and trade with an example using professional basketball player LeBron James.
Council for Economic Education
Econ Ed Link: Specialization and the Decathlon
This lesson uses results from the 2008 Summer Olympic Games to explain that athletes specialize in sports and events for which they are most skilled for the same reasons that individuals and nations specialize in the production of goods...
Federal Reserve Bank
Federal Reserve Bank of Atlanta: Trade: Why Do Nations Trade?
Basics from key terminology to why we trade are featured alongside introductions to foundational concepts such as production possibilities frontiers, absolute and comparative advantage, trade barriers, and free trade versus protectionism.
Khan Academy
Khan Academy: Ap Macroeconomics: Lesson: Comparative Advantage/gains From Trade
In this AP Macroeconomics lesson summary from Khan Academy reviews and reminds about the key terms, graphs, and calculations used in analyzing comparative advantage and the gains from trade. Key concepts include how to determine...
Khan Academy
Khan Academy: Comparative Advantage and Absolute Advantage
Practice what you have learned about comparative advantage and absolute advantage in this four-question exercise.
Khan Academy
Khan Academy: Comparative Advantage and the Gains From Trade
Practice what you have learned about calculating absolute advantage and comparative advantage, and how to use comparative advantage to determine who should specialize in the production of one good or the other.
Wikimedia
Wikipedia: Absolute Advantage
This site defines "absolute advantage" and gives simple examples.
Auburn University
Auburn University: A Glossary of Political Economy Terms: Absolute Advantage
This page defines the term absolute advantage from the Glossary of Political Economy Terms by Paul M. Johnson at Auburn University.
Curated OER
A Ricardian Numerical Example
This site offers an in-depth analysis of "absolute advantage" and "comparative advantage", and includes supporting charts and graphs to support the examples that are given.
Curated OER
A Ricardian Numerical Example
This site offers an in-depth analysis of "absolute advantage" and "comparative advantage", and includes supporting charts and graphs to support the examples that are given.