Several years ago, I began incorporating more economic concepts into the Entrepreneurship course I teach at Mansfield High School. I wanted my students to truly understand how the outside world would affect their small businesses. They needed to know the basic economic concepts of supply and demand, how production costs are calculated, and how both minor and major world events could have a ripple effect on their own businesses. I found the perfect method of delivery for this material in the Econ Essentials interactive learning modules from Discovery Education and the CME Group.
Econ Essentials offers two modules that cover the same economic lessons and topics from differing industries. Fueling the Future focuses on the fluctuating costs of oil and how it can affect a business that relies on fuel. Facts About Food highlights the many contributing factors that determine how the prices of food are calculated. It’s not as simple as you’d think! I allow my students to choose from either simulation, depending on their own interests. Right away, my students become more invested in the lesson because they are able to select the module they’d like to pursue from the beginning.
Once a student selects a module, the lessons unfold in a very logical manner. The student is walked through a mix of interactive delivery methods of material, including videos, historical graphs, matching games, and mini-assessments. At the of the module, the student is given a culminating simulation to run a business and earn a certificate of completion.
My students have had very positive feedback about the Econ Essentials interactive modules. They love being able to choose between Fueling the Future and Facts About Food. Having a mixture of delivery methods of the material keeps them entertained and engaged. But, enough from me! Here are some quotes from my students:
- “It not only explained the process but provided interactive graphs that could be manipulated to show how different factors affect supply and demand.” -Stefan
- “I think every student should be able to do this and learn about fuel and food prices!” -Piyush
- “The simulation was easy to follow and very informational.” -Anthony
- “I liked the simulation and how it taught about the factors of what could change the price of gas. I liked the game where you’re put in a situation where you change the cost of your shuttle because you learn how to control what you earn and how much you have to spend for your business.” -Ryan
- “I liked how the simulation was visually appealing and interactive and also had the information that was important to know and learn.” -Kaylee
The Econ Essentials simulation modules are a great addition to any economics unit. The interactive lessons and self-contained assessments make them easy-to-implement in any classroom.
Get ready for the #PowerOfEcon Day tomorrow, Thursday, April 26th. You and your class can win $25 gift cards, learn about economic #edtech from #EconEssentials, and live chat with @CMEGroup’s chief economist!#giveaway