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Lesson Plan
Council for Economic Education

Opportunity Cost

For Teachers 9th - 12th Standards
The price of those new shoes involves more than just money! Individuals explore the concept of opportunity cost using a video clip and gratification discussions. They prepare a budget based off of their set of values in regards to...
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Lesson Plan
Curated OER

Identifying Opportunity Cost

For Teachers 9th - 12th
Students work together to examine the concept of opportunity costs. They complete a practice problem and solve other problems during the class period. They share their solutions with the class.
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Worksheet
Federal Reserve Bank

Choices Are Everywhere: Why Can’t We Just Have It All?

For Students 11th - 12th Standards
Here is a resource covering a range of terms and concepts regarding scarcity, opportunity cost, and government debt in economics. 
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Activity
US Department of Commerce

The Opportunity Atlas

For Teachers 9th - 12th Standards
The American dream is to climb the social and economic ladder, but is it really possible? Using an online opportunity atlas, class members explore income and social mobility throughout the country. Discussion prompts allow learners to...
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Lesson Plan
Curated OER

Globalization: Threat or Opportunity for the U.S. Economy?

For Teachers 9th - 12th
Students study the pros and cons of globalization. They highlight the economic concepts of comparative advantage, specialization, and opportunity cost. They read and discuss the "FRBSF Economic Letter: Globalization: Threat or...
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Lesson Plan
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Elizabeth Murray Project

Gender and Opportunity in Colonial America

For Students 9th - 12th Standards
What was life like for women in Colonial America? What restrictions were placed upon them and what opportunities were they afforded? A case study of Elizabeth Murray offers high schoolers a chance to investigate primary source documents...
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Activity
Curated OER

Susan's Choice

For Teachers 2nd - 3rd Standards
Young economists explore opportunity cost by counting how much money Susan has in her piggy bank. From here, they are challenged to help Susan make a choice about what she can buy with her money. 
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Lesson Plan
Curated OER

Opportunity Cost

For Teachers 9th - 12th
Students review the concept of opportunity cost. Using a clip from a money, they identify the people who made a choice and the value of the choice given up. They read various scenarios about opportunity costs and trade-offs and make...
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Lesson Plan
Curated OER

Opportunity Cost

For Teachers 7th - Higher Ed
Students study what opportunity cost is and why it is important to their lives.
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Lesson Plan
Curated OER

Scarcity and Opportunity Cost - To Choose Is To Refuse

For Teachers 8th - 12th
Students are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...
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Worksheet
Curated OER

Production Possibilities & Opportunity Cost

For Students 12th
In this economics worksheet, 12th graders respond to 15 multiple choice questions about production possiblities and opportunity costs.
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Lesson Plan
Curated OER

Location of Resources in Early Civilizations

For Teachers 6th
Sixth graders define scarcity and opportunity costs.
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Worksheet
Curated OER

Economics Study Guide

For Students 11th - 12th
Use this resource as a basic review of economic principles. There are six questions relating to the factors of production, opportunity costs, wants and needs, tangibles and intangibles, and more.
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Worksheet
Federal Reserve Bank

The Legacy of the Olympics: Economic Burden or Boon?

For Students 9th - 12th Standards
Do the economic benefits of major sporting events such as the Olympics or the World Cup outweigh the expected costs? Using fundamental economic terms, discover the explicit and implicit costs and benefits for countries that host these...
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Worksheet
Curated OER

Economics Worksheet: Opportunity Costs

For Students 11th - 12th
In this economics worksheet, students use their problem solving skills to calculate opportunity costs and graph their calculations.
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Lesson Plan
Curated OER

Franchise Opportunity

For Teachers 9th - 12th
Students identify and evaluate franchise as a business opportunity. Lesson is culminating project in a business course.
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Lesson Plan
Curated OER

Trade Creates Opportunities

For Teachers 9th - 12th
Students examine how trade can create economic opportunities and can be a impetus for social change. They research the "Asian Tigers" and design a class presentation.
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Lesson Plan
Curated OER

Tarantula Shoes

For Teachers 9th - 12th
Students read a book about Ryan O'Keefe, a young man who wants a pair of basketball shoes promoted by a basketball star. They explore about spending, saving, opportunity cost, and trade-offs as they study Ryan's decisions throughout the...
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Lesson Plan
Council for Economic Education

Timing Is Everything

For Teachers 9th - 12th
Learners discuss the incentives and opportunity costs of spending vs. saving. They follow an interactive website which shows them the how much money they could end up with by saving instead of spending.
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Lesson Plan
Curated OER

Why Nations Trade

For Teachers 8th - 9th
Students discuss international trade. In this trade lesson, students read about comparative advantage and the benefits of international trade. Students perform a skills test to determine their individual specialization areas and write...
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Worksheet
Curated OER

Money situations

For Students 9th - 12th
In this money situations worksheet, students read money word problems and then list the benefit, opportunity cost, risks, and responsibilities for each one. Students do this for 6 questions.
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Lesson Plan
Curated OER

Give and Take

For Teachers 7th - 8th
Students analyze a scheduling dilemma. In this opportunity cost and trade-offs instructional activity, students must schedule the school gym for basketball games, but there are not enough hours for all the games. Groups determine how...
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Lesson Plan
Curated OER

Something from Nothing

For Teachers 2nd - 4th
Students identify opportunity costs. In this resources lesson plan students are read the story Something from Nothing by Phoebe Gilman. Students list the things Grandpa makes Joseph. Students state why people make choices.
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Lesson Plan
Curated OER

Creating Volunteers

For Teachers 3rd - 5th
Students discuss the benefits of volunteering. In this creating volunteers lesson, students consider philanthropic actions and opportunity costs. Students create a song and visual aid about being a volunteer.

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