ECONOMICS FOR LEADERS 2016Topics & Guidelines for Economics Sessions

For Mentor Teachers & Professors

Please check your site-specific schedule for times, breaks, rooms, etc.

ON-SITE PRE-PROGRAM PLANNING

Mentor Teacher: Before or after the Sunday morning staff meeting with the conference coordinator, talk with the leadership staff about:

PRE-TEST: Given first thing Monday morning. Remind PCs to have students there by 8:15 for pretest. Morning “wake-ups can follow.”

The Mentor Teacher is in charge of some sort of wrap-up with teachers and students Friday before or after lunch. Look at the schedule, consider the specifics of your site, and come up with a plan for that afternoon.

Talk with the professor doing the Thursday morning “Property Rights” lecture to determine if you or they will be running the “Fish Game.” Either way, the mentor is responsible for having Goldfish Crackers and a roll of quarters for the activity.

Remind the Professor that Job Jungle is back in the morning schedule and ask if they will be running or would like you to run additional or specific rounds to connect to their labor lecture.

CHECK-IN

Mentor Teacher: As teachers are checking in, distribute The Economics of Public Issues 19th edition reading assignments for the week so they can begin the reading for Monday (and remind them of the pre-program reading assignment in case they need to catch up). Then verify that they have access to their e-book and show them how to self-register for the Canvas course. Provide help if necessary. Consider offering a bonus raffle ticket when they can show they have access to both the e-book and Canvas. You should have received an access code to unlock your ebook (or a hard copy, if you requested that instead).

CANVAS INSTRUCTIONS

1. Teachers can self-register for the Canvas course by going directly here: https://canvas.instructure.com/enroll/J9DFP3

EFL Mentor Teacher & Professor Resources Includes lecture guides for professors, presentation slides, reading assignments, instructor guide for Economics of Public Issues, staff resources, etc:http://www.fte.org/staff-members/efl-profs-and-mentors/

Videos for use during Lectures: http://www.fte.org/staff-members/eflvids/

These sites are password protected and are for use by EFL Profs and Mentor Teachers only. Password: efl2016

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 2

2. Then encourage teachers to download the Canvas app by Instructure from their app store for easier access on their mobile devices.

E-BOOK INSTRUCTIONS: 1. Create an account at https://www.vitalsource.com/. 2. Login and choose the “REDEEM” link at the top of the page. 3. Redeem your code to access your book. A unique access code was sent in an email from Haley Sisler

to each participant. hsisler@fte.org4. Now you can view the book anytime on your “bookshelf” at vitalsource.com. You also have the

ability to print chapters from within the book. Or, for easier viewing, download the Vitalsource App. Search google or your app store for the Vitalsource Bookshelf App.

Sunday “Kick-off” Mentor Teacher: During Welcome & Introduction session: After the FTE Staff members have introduced themselves, you (or the prof) can introduce the hypothesis for the week and the Economic Reasoning Propositions. Kick-off slides are on the EFL RESOURCE page. They include pictures of FTE Founder, Jack Hume and a couple pictures/slides with notes to explain the new president/partnership with TFAS. There are also pictures of EFL then and now. Following this in-door part of the kick-off the Leadership Staff will conduct some fun ice-breaker activities. Sometime during these icebreakers the Leadership staff will turn the time over to you to introduce the concept of “opportunity cost.” (Ask/remind the leadership staff about this at your Saturday evening staff meeting or during registration on Sunday.) This is their first econ lesson of the week. Take a couple minutes to explain opportunity cost then tell them they are going to introduce themselves sharing an opportunity cost of choosing to be at EFL this week. Start with yourself as an example and then go around the circle as others do the same… “My name is ______ and my opportunity cost of choosing to be at EFL is _______.”

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SUNDAY EVENINGMentor Teacher: Expectations and assignments

Introductions: staff and participants Go over participant expectations: on time, no newspapers, cell phones off, return all but emergency calls

during scheduled breaks, etc. Explain to teachers their role in as observers during the lectures with students in the mornings (no side conversations). If they have questions or comments, write them down for the afternoon sessions. Teachers will be participating with students in all the morning activities. The first part of the afternoon sessions addresses the teachers as teachers while the second part addresses the teachers as adult learners.

Explain leadership portion of the student program that is happening simultaneously. See the site schedule & logistics for information on whether teachers are included in the Wednesday evening excursion. The teacher program ends on Friday at all sites. If teachers are around Saturday morning you may invite them to attend the student presentations.

Announce availability of lecture and activity PowerPoints. This year they will be in the Canvas course they registered for. You and the professor are also welcome to post things for your teachers in the module for your program. Remind teachers to download PowerPoints soon as they will be removed at the end of the summer.

Announce that all curriculum – lesson guides and activities – can be found on the FTE website. If possible, briefly show the site. You will be showing it in greater detail Friday afternoon.http://www.fte.org/teacher-resources/lesson-plans/efllessons/

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FIRST READING DISCUSSION: Explain expectations with regard to reading assignments and handout the Close Reading Guide and Handout (there are several copies of the guide per teacher as some may want additional copies to use during the week). Recognize that not all teachers use common core. The Close Reading guide is correlated to Common Core standards for convenience. The questions encourage higher order critical thinking and the application of the 5 Economic Reasoning Propositions.

Complete the readings individually. Use the Close Reading Guide and Handout. During Afternoon Session, they will be matched with a new group each day to discuss and analyze

one of the readings (be prepared for either). Use the pre-program assigned readings to model some of the close reading strategies explained

in the HANDOUT then, as time allows, put them in small groups and have them answer some of the sample questions on the GUIDE as a group. Then have small groups report out and share as a large group. (The Monday discussion session is a full-hour some extra time for teaching can be taken then, too). Use this time to model what you expect in the afternoons. NOTE: Mentors will be conducting discussion sessions. Profs are welcome and encouraged to participate and be available to answer questions or provide input.

Professor: Introduce Hypothesis for the week and provide some background preparation for Monday morning session

The tools of economic reasoning (as represented by the 5 ERP’s) can be taught in innumerable contexts. FTE has chosen the context of world poverty, but there were many other choices available.

Introduce the Economic Reasoning principles (handout sent for folders), and emphasize their fundamental importance to the week. Urge teachers to look for the ERPs throughout the morning sessions.

Teach concept of Public Choice Theory and how it can be used as a tool to analyze public policies such as those they will read about in “The Economics of Public Issues” this week. OPTIONAL: Divide teachers into groups of 4 or 5 and have them use the Personal Position Paper from the students’ Public Policies on Trial activity (6 extra copies in box, 1 per teacher group) to analyze the “Death by Bureaucrat” chapter (assigned before the program) and explain why a policy passes/doesn’t pass (or is likely/not likely to pass) in terms of Public Choice Theory. Have groups share briefly, as time permits.

Transition to the Mentor by explaining that the “The Mystery of Wealth” reading (assigned before the program) provides some economic analysis of topics that will be covered tomorrow morning.

Mentor Teacher: FIRST READING DISCUSSION:

Econ & Common Core: The ELA (English Language Arts) Common Core applications in Social Studies are all about learning how to effectively read and analyze informational texts. The Close Reading Guide and Handout are provided for this purpose. They also list the common core standards and correlations. Copies for teachers are sent to the program and are available for you on the Mentor-Professor webpage. http://www.fte.org/staff-members/efl-profs-and-mentors/

Recognize that your audience will be diverse and that some or even most (depending on your program location) may not be using the common core in their state. So where Common Core is not a big deal, focus on the critical thinking and E.R.P. applications in the reading discussion sessions.

Explain expectations with regard to reading assignments and handout the Close Reading Guide and Handout (there are several copies of the guide per teacher as some may want additional copies to use during the week).

Complete the readings individually. Use the handout and the sample questions as a guide. Emphasize that they should NOT try to answer all the questions. Rather they should pick a few of the

suggested questions or similar questions of their own, and answer those for a given reading. They can try different questions with different readings. Some will be more appropriate and relevant at different times.

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 4

During Afternoon Session, they will be matched with a new group each day to discuss and analyze one of the readings (be prepared for any of the readings).

Use the pre-program assigned readings to model some of the close reading strategies explained in the HANDOUT then, as time allows, have them work with their small group to answer some of the sample questions on the GUIDE for the “Mystery of Wealth” chapter. Then have small groups report out and share as a large group. (The Monday discussion session is a full-hour so this could be continued or introduced on Monday if needed.)

NOTE: The Mentor and Prof will be working together during the discussions. The Mentor is responsible for organizing the groups, assigning chapters and managing the time for small/large group discussion. Both the Professor and Mentor should rotate through groups during the small group discussion time and participate in (but not dominate) the large group discussion. The professor should also be available throughout the discussions for Q&A related to the readings.

Mentor Teacher: Reminders of time and location for morning. Adjourn

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MONDAY MORNING

Mentor Teacher: Student pre-testStudents will take one of 3 forms of the pretest. Each form has 10 of the 30 post-test questions. No names needed on pre-tests as we will compile a composite score with results from all programs. Tell students that these questions were taken from the National Assessment of Educational Progress (NAEP) grade 12 economics exam, given nationally in 2006 and 2012, and that we are only interested to see how much their scores improve after a week of instruction. Certificates will be sent to students who achieve proficiency or advanced proficiency on the post test. (Proficiency and advanced proficiency determined at the end of the summer by comparison of EFL results with national results.)

Note: Please do not allow teachers or students to take copies of the test questions. If teachers ask, tell them the released questions from which our 30 were chosen are available on the NAEP site at: http://nces.ed.gov/nationsreportcard/nqt/

Professor: Econ Topic #1 “Economic Growth and Scarcity” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-1-economic-growth-and-scarcity/ Mentor: Activity “Magic of Markets” - Lesson plan & demo video online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/the-magic-of-markets-trade-creates-wealth/ Professor: Econ Topic #2 “Opportunity Cost” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-2-opportunity-cost-and-incentives

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MONDAY AFTERNOON

Mentor Session 1 (10 min): Debrief morning “Magic of Markets” activity. Remind or show teachers that a video demonstration is available when they click on the activity from the EFL Curriculum page.

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 5

Prof Session 1 (35 min): Economic Topics for Teachers I & 2Focus: Participants as teachersPurpose: Review and extension of both morning topics as they apply to teaching and the high school classroom:

Economic Growth & Scarcity, and Opportunity Cost and Incentives

Topics: Scarcity, Choice, and Cost

Answer teacher questions and provide clarification or further instruction, where necessary. Revisit the concept of opportunity cost, emphasizing importance of the margin.

Emphasize that costs for decision making are always marginal (or incremental) costs. Explain that “optimal” decisions depend on the use of marginal analysis. Develop additional examples of sunk cost.

Mentor/Professor (1 hour): Econ & Common Core - Discussion of Assigned Readings: Chapter 3: Flying the Friendly Skies? Chapter 10: Are We Running Out of Water? Chapter 28: The Trashman Cometh

The Mentor teacher will be responsible for grouping the teachers into new small groups (4-5) each day, assigning each group one or more of the readings to discuss and administering the small and large group discussions. The Professor should be available for Q&A related to the readings during this time. Both the Professor and Mentor should rotate through groups during the small group discussion time and participate in (but not dominate) the large group discussion. Extra time is provided today to provide additional instruction on expectations or how to conduct a close read and analysis, if time ran short last night. This regular discussion session is 40 minutes the rest of the week.

Recommended use of discussion time (40 min): 15 min – Small groups discuss 1 of the 3 assigned readings sharing their questions and thoughts from their own close read and analysis. 25 min – Large group discussion. Have all the groups that discussed the first reading, share 1 or 2 interesting questions or insights that came from their discussion and then open the discussion to the whole class. Continue with the 2nd and 3rd readings (approximately 8 min per reading).

Econ & Common Core: The ELA (English Language Arts) Common Core applications in Social Studies are all about learning how to effectively read and analyze informational texts. The Close Reading Guide and Handout are provided for this purpose. They also list the common core standards and correlations. Where Common Core is not relevant, focus on the critical thinking and application of E.R.P.s in the Close Reading Guide/Handout. Copies for teachers are sent to the program and are available for you on the Mentor-Professor webpage. http://www.fte.org/staff-members/efl-profs-and-mentors/

Prof Session 2 (50 min): Focus: Participants as adult learnersPurpose: Expansion of teachers’ content knowledge. The content presented in this session may extend

beyond what might be used in the secondary school classroom.

Topic: World Poverty & Economic Growth: The Importance of Institutions ***Note: This guide is for both the afternoon teacher session and the evening student session. ***

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1. The history of world economic growth raises important questions about the ability of nations to deal with the ever-present problem of scarcity.

The cross-sectional evidence shows a fairly wide disparity in per capita income between countries. Some countries have experienced economic growth and others have not. Some countries are growing

rapidly today even though they have not experienced rapid growth in the past. Some countries that experienced rapid growth in the past are not growing today.

2. GDP and GDP per capita are the widely accepted statistical indicators of poverty and wealth. GDP (consumption vs. input measures) GDP/capita

Reliable proxy for “social indicators” of poverty: infant mortality, education, life expectancy, access to water, kilocalories/day etc.

Approximately 1.2 billion people live in absolute poverty $1.25/day PPP standard relative vs. absolute poverty

Illustrate with map of wealth and poverty in the world

3. Historically, economic growth has been the main alleviator of poverty Snapshot of history of economic growth Economic growth does not eliminate scarcity; but it does impact the choices people face.

4. Institutions matter for economic growth. Review definition of institutions – formal and informal rules of the game that shape incentives and

outline expected and acceptable forms of behavior in social interaction. Nations that experience economic growth have institutions that provide incentives for innovation and

technological advances that increase productivity. Nations with stagnant economies where poverty persists lack the institutional incentives that

encourage increases in productivity and the resulting economic growth. Present Fraser data on economic growth and economic freedom

Use charts: Income share of bottom 10% GDP/capita by quartile GDP/capita of bottom 10% by quartile

The institutions that foster economic growth include: open markets; property rights and the rule of law; and entrepreneurship and innovation.

5. Economic growth creates benefits throughout the economy. Economic growth expands a nation’s productivity capacity. Historically, all segments of the economy have benefitted from economic growth; hence the rise of

the middle class.

6. Changing picture of poverty in the world is the result of economic growth Changes since 2000 in Asia (decreasing) and Africa (increasing then decreasing since 2008) Projected changes by World Bank as result of current economic downturn serve to reinforce the

message that growth matters in the fight against poverty – and if growth matters, then institutions matter

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 7

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MONDAY EVENING The Monday evening program is for students only, and is drawn from the lessons in the 1-day curriculum workshop, Is Capitalism Good for the Poor? The 2-hr. time block is divided into 3 sessions, 2 conducted by the mentor teacher and one by a professor.

Mentor Session : 45 minutes Activity: The Ultimatum Game Coordinate with the Prof about where the activity will best compliment their lecture – before or after. You may

want to split the activity in half and move the debriefing and distribution of cash after the prof session. You may also want to enlist the help of the prof in stuffing envelopes.

Debriefing emphasis – the importance of institutions in people’s perceptions of alternatives and in the choices they make. Here is a demo that will help you conduct and debrief the activity. http://www.fte.org/teacher-resources/lesson-plans/is-capitalism-good-for-the-poor/the-ultimatum-game/

Prof. Session: 60 minutes Topic: World Poverty & Economic Growth: The Importance of Institutions(Note: Use the same guide used for the Monday afternoon teacher session.)

Mentor Session : 15 minutes Wrap-up Ultimatum Game Activity (cash pay-out and sharing of their results)

MENTOR TEACHER responsible for supervision of students until return of leadership staff at 9pm.

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TUESDAY MORNING

Mentor: Activity “In the Chips” - Lesson plan and demo video available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/in-the-chips-a-market-in-computer-chips/

GROWTH RATES: World per Capita GDP, 1500 to 2000(1990 International Geary-Khamis constant dollars)

Country1500 to

17001700 to

18501850 to

19001900 to

19501950 to

19701970 to

19801980 to

19901990 to

20001700 to

20001700 to

19501950 to

2000United States 0.14% 0.82% 1.65% 1.71% 2.29% 2.14% 2.25% 2.04% 1.34% 1.17% 2.20%Canada 0.04% 0.76% 1.58% 1.85% 2.54% 2.99% 1.55% 1.71% 1.33% 1.14% 2.27%France 0.11% 0.38% 1.18% 1.22% 4.05% 2.62% 1.82% 1.63% 1.06% 0.71% 2.83%Japan 0.07% 0.12% 1.11% 0.98% 8.44% 3.29% 3.42% 1.14% 1.21% 0.49% 4.90%United Kingdom 0.28% 0.42% 1.32% 0.87% 2.22% 1.85% 2.42% 2.07% 0.93% 0.69% 2.16%Germany 0.14% 0.30% 1.49% 0.53% 5.27% 2.68% 1.22% 1.77% 1.02% 0.58% 3.23%Italy 0.00% 0.14% 0.56% 1.36% 5.24% 3.07% 2.18% 1.42% 0.95% 0.46% 3.42%Mexico 0.15% 0.10% 1.42% 1.10% 3.06% 3.88% -0.38% 1.77% 0.85% 0.57% 2.27%Brazil 0.07% 0.27% -0.03% 1.82% 3.06% 5.45% -0.54% 1.22% 0.83% 0.52% 2.43%China 0.00% 0.00% -0.19% -0.39% 2.80% 3.15% 5.84% 6.22% 0.58% -0.12% 4.15%India 0.00% -0.02% 0.23% 0.07% 1.70% 0.78% 3.38% 3.72% 0.41% 0.05% 2.25%Total Africa 0.01% 0.12% 0.37% 0.79% 2.12% 1.28% -0.60% 0.17% 0.42% 0.30% 1.01%Source: GDP data from Angus Maddison, "Historical Statistics of the World Economy: 1-2003 AD."http://www.ggdc.net/maddison/. Note that the data for Mexico are reported from 1870 for the 1850 entry.

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 8

Professor: Econ Topic #3 “Open Markets” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-3-open-markets Professor: Econ Topic #4 “Markets in Action” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-4-markets-in-action

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TUESDAY AFTERNOON

Mentor Session (10 min): Debrief morning “In the Chips” activity. Remind teachers that a demonstration video is available when they click on the activity from the EFL Curriculum page. Talk about possible variations of the market game to do in subsequent lessons.

Prof Session 1 (30 min): Focus: Participants as teachersPurpose: Review and extension of both morning topics as they apply to teaching and the high

school classroom: Open Markets, and Markets in Action

The session should focus on extensions and suggestions for development of topics that you would use with students but for which there was not time in the morning session. Answer teacher questions and provide clarification or further instruction, where necessary.

Emphasize: 1) how change occurs in markets, and 2) aberrations in marketsYou may wish to use problems from the Lesson 4 lecture guideline that were not used in the morning session.

While this session is intended to be highly interactive with the teachers and to provide an opportunity for their questions and comments on the morning topics, please approach with planned content rather than simply opening it up for Q&A.

Mentor Session (50 min): Activity – “Market for Thingamajigs – A Price Gouging Simulation”Here is a link the video that outlines how to run the simulation. Watch it before you run the activity with the teachers. It will also help you debrief the activity with the teachers.

http://www.fte.org/teacher-programs/online-programs/economics-of-disasters/activity-video-price-gouging-16-minutes/

Prof Session 2 (30 min): Focus: Participants as adult learners

Purpose: Expansion of teachers’ content knowledge. The content presented in this session may extend beyond what might be used in the secondary school classroom.

Topic: The relationship between benefits & costs and the supply & demand for a product Develop the demand curve as the MB curve and the supply curve as the MC curve. Develop the market supply curve by summing various marginal cost curves. Show that the prevailing market price will induce only the low cost producers to produce. Show how entry and exit affect the equilibrium price.

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 9

Note that the mentor teacher will have run the auction version of the market activity immediately before this session. See summary on next page.

(Optional – if time) Discuss consumer and producer surplus.or

(Optional – if time) Discuss utility maximization with a simple budget constraint. Discuss the basic budget constraint. Discuss the time constraint and how economists combine budget and time constraints to describe “full”

income.

Mentor/Professor (40 min): Discussion of Assigned Readings: Chapter 9: Kidneys for Sale Chapter 17: Contracts, Combinations and Conspiracies Chapter 19: Keeping the Competition Out

Mentors put the teachers in new small groups (4-5) and conduct the discussion as was done Monday (making adjustments if necessary) while Professor visits small groups and is available for Q&A throughout the discussions.

Recommended use of discussion time (40 min): 15 min – Small groups discuss 1 of the 3 assigned readings sharing their questions and thoughts from their own close read and analysis. 25 min – Large group discussion. Have all the groups that discussed the first reading, share 1 or 2 interesting questions or insights that came from their discussion and then open the discussion to the whole class. Continue with the 2nd and 3rd readings (approximately 8 min per reading).

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WEDNESDAY MORNING

Professor: Econ Topic #5 “Labor Markets” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-5-labor-markets Mentor: Activity “Job Jungle” - Lesson plan & demo video online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/the-job-jungle-a-labor-market-game/ Professor: Econ Topic #6 “Incentives, Innovations and the Role of Institutions” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-6-incentives-innovations-and-roles-of-institutions

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WEDNESDAY AFTERNOON

Mentor Session (10 min): Debrief morning “Job Jungle.” Remind teachers that a demo video is available when they open the activity from the EFL curriculum page.

Prof Session 1 (30 min): Focus: Participants as teachersPurpose: Review and extension of both morning topics as they apply to teaching and the high

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 10

school classroom: Labor Markets andIncentives, Innovation, and the Role of Institutions

The session should focus on extensions and suggestions for development of topics that you would use with students but for which there was not time in the morning session. Answer teacher questions and provide clarification or further instruction, where necessary.

Emphasize: 1) the importance of innovation to economic growth, and the institutional structures that provide incentives for innovation and 2) productivity.

While this session is intended to be highly interactive with the teachers and to provide an opportunity for their questions and comments on the morning topics, please approach with planned content rather than simply opening it up for Q&A.

Mentor Session (50 min): Activity - “The Cartel Simulation” Here is a link to the video that outlines how to run and debrief the simulation: http://www.fte.org/teacher-

resources/lesson-plans/efllessons/cartels-and-competition

Prof Session 2 (30 min): Focus: Participants as adult learnersPurpose: Expansion of teachers’ content knowledge. The content presented in this session may

extend beyond what might be used in the secondary school classroom.

Topic: Productivity, economic growth, and labor markets Using case study examples or illustrations, discuss labor markets, out-sourcing and in-sourcing.

Explain how out-sourcing increases economic growth in domestic and foreign countries. Explain measures of productivity.

Mentor/Professor (40 min): Discussion of Assigned Readings: Chapter 12: Das Kapital in the Twenty-First Century Chapter 14: The Effects of the Minimum Wage Chapter 24: The Graying of America

Mentors put the teachers in new small groups (4-5) and conduct the discussion as was done Monday (making adjustments if necessary) while Professor visits small groups and is available for Q&A throughout the discussions.

Recommended use of discussion time (40 min): 15 min – Small groups discuss 1 of the 3 assigned readings sharing their questions and thoughts from their own close read and analysis. 25 min – Large group discussion. Have all the groups that discussed the first reading, share 1 or 2 interesting questions or insights that came from their discussion and then open the discussion to the whole class. Continue with the 2nd and 3rd readings (approximately 8 min per reading).

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THURSDAY MORNING

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 11

Notes for Mentor or Professor that runs the FISH ACTIVITY: Decide who (mentor or prof) will be running the fish activity and when it will be done (during or before lecture #7)

o If an overhead projector is available at your program, use that and a blank transparency for the activity.

o If an overhead projector is NOT available at your program, use masking tape to tape off a large (5’ x 5’) area. Use additional tape to divide it into sections for the second round. Make sure the taped off area is visible to the class at large. You may need to move tables to do this in the center of the room, or move to an area of the room where participants can kneel around the taped off area and the rest of the class can stand around them (but far enough back not to influence them) so they can see the simulation in action. The point here is to make the activity visible to all. It won’t be as affective if only the participants know and can see what’s going on. You may need to be creative in finding a space that works.

o Regardless of who is doing the activity, the mentor teacher is responsible for bringing the goldfish crackers and the roll of quarters.

o Lesson plan and demo video: http://www.fte.org/teacher-resources/lesson-plans/efllessons/the-fish-game

Professor: Econ Topic #7 “Property Rights – Is the Environment Different?” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-7-property-rights-is-the-environment-different Mentor: Activity “Farmers & Fishers” - Lesson plan & demo video online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/farmers-and-fishers/ Professor: Econ Topic #8 “Setting the Rules – The Costs and Benefits of Government Action” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-8-setting-the-rules-costs-and-benefits-of-government-action

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THURSDAY AFTERNOON

Mentor Session (10 min): Debrief morning property rights activities “Fish Game” and “Farmers & Fishers.” Remind teachers that demo videos can be found by clicking on each activity from the EFL Curriculum page.

Prof Session 1 (30 min): Focus: Participants as teachersPurpose: Review and extension of both morning topics as they apply to teaching and the high school

classroom: Property Rights: Is the Environment Different?Setting the Rules: Costs and Benefits of Government Action

The session should focus on extensions and suggestions for development of topics that you would use with students but for which there was not time in the morning session. Answer teacher questions and provide clarification or further instruction, where necessary.

Emphasize: The guideline for government activities designed to protect environmental quality or provide environmental amenities should face the same litmus test as private activities: Do the marginal benefits exceed the marginal costs? Revisit the importance of marginal analysis. Develop an example of the cost of alternative

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 12

methods of addressing an environmental issue. (The mentor teacher session this afternoon will deal with a market for pollution credits.)

While this session is intended to be highly interactive with the teachers and to provide an opportunity for their questions and comments on the morning topics, please approach with planned content rather than simply opening it up for Q&A.

Mentor Session (50 min): Activity - “A Pollution Solution” Like last summer, this activity has been moved one day later. It now falls AFTER teachers have seen and

participated in the “Farmers and Fishers” activity. This should make it a little easier to visualize the type of bargaining and negotiating that will take place.

There is a video available of this activity. Watch it before running the activity with the teachers. It will help you conduct and debrief the activity. LINK TO ACTIVITY VIDEO: http://www.fte.org/teacher-programs/online-programs/economics-online-for-teachers/a-pollution-solution/

.Prof Session 2 (30 min): Focus: Participants as adult learnersPurpose: Expansion of teachers’ content knowledge. The content presented in this session may extend

beyond what might be used in the secondary school classroom. Topic: Debt, Deficit & the Federal Budget Using the lecture guide provided online (available on the profs and mentors resource page), define

government surplus, deficit and debt. Discuss the historical and current status of US Debt and the effect of a growing Federal debt.

Mentor/Professor (40 min): Discussion of Assigned Readings: Chapter 5: The Economics of Exclusion Chapter 22: Raising More Corn and Less Hell Chapter 25: Save that Species

Mentors put the teachers in new small groups (4-5) and conduct the discussion as was done Monday (making adjustments if necessary) while Professor visits small groups and is available for Q&A throughout the discussions.

Recommended use of discussion time (40 min): 15 min – Small groups discuss 1 of the 3 assigned readings sharing their questions and thoughts from their own close read and analysis. 25 min – Large group discussion. Have all the groups that discussed the first reading, share 1 or 2 interesting questions or insights that came from their discussion and then open the discussion to the whole class. Continue with the 2nd and 3rd readings (approximately 8 min per reading).

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THURSDAY EVENING MENTOR

Public Policies team presentations – Handouts in supply box. Put students into groups (4-5 per group) There are two pieces of legislation (public polices) for student groups to choose from this year and they can

choose to support or oppose either policy. Just remind them that they are taking on the role of an interest group and their arguments for or against a policy should take into account the costs and benefits of that policy

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 13

to the interest group they’ve chosen to represent. This is their chance to show off the economics they’ve learned!

Make sure flip chart paper, markers, etc. are available for students. The background information on the policies includes links to Gooru collections that have other resources that will be helpful to students. So make sure at least one person in each group has a smart phone or computer so they can access those resources.

It is up to you whether you want to allow students to make and use presentation slides for their visual (prezi’s, powerpoints, etc). Keep in mind the constraints of your resources and room (will they need wifi, will their computer hook up to the LCD projector, sound, etc).

Announce that students are allowed no more than 1 hour additional time after evening session – on own, all group members must be present.

Please do not invite teachers to attend this session. If individual teachers ask, it’s certainly up to you to allow them to come. But please do not have them participate with the student groups.

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FRIDAY MORNINGProfessor: Econ Topic #9 “Money & Inflation” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-9-money-and-inflation Mentor: Activity “Foreign Currency & Foreign Exchange” - Lesson plan & demo video online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/foreign-currencies-and-foreign-exchange Professor: Econ Topic #10 “International Markets” - Lesson outline available online. http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-10-international-markets Mentor: The Student Post Test will now be conducted immediately following the Professor’s last lecture. This means that teachers will have an extended lunch break.

All students take the 30 question post-test. Alert them that they may recognize some of the questions from the pretest. Acknowledge that the contexts of some questions will be different than the topics discussed during the week, but assure them that the economics is the same and that if they apply the economic reasoning they learned during the week, they will do well.

Remind students of the Certificate in Economic Proficiency they can earn if they score high enough on the post-test.

For students that registered for college credit with UCCS, the post-test will be part of their final score. Remind teachers and students that they will be returning from lunch earlier than usual for a group photo.

This is the last time the teachers and students will be together so encourage them to say their goodbyes then.

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FRIDAY AFTERNOONMentor Session (10 min): Debrief “Foreign Currency and Foreign Exchange.” Remind teachers that a demo video is available when they access the activity from the FTE website.

Prof Session 1 (30 min): Focus: Participants as teachersPurpose: Review and extension of both morning topics as they apply to teaching and the high

school classroom: Money and InflationInternational Markets

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 14

The session should focus on extensions and suggestions for development of topics that you would use with students but for which there was not time in the morning session. Answer teacher questions and provide clarification or further instruction, where necessary. You may wish to use problems from the lecture guideline that were not used in the morning session.

While this session is intended to be highly interactive with the teachers and to provide an opportunity for their questions and comments on the morning topics, please approach with planned content rather than simply opening it up for Q&A.

Mentor Session (50 min): “The Economic Barometer”& Overview of the FTE website/Teacher Resources

1. Economic Barometer: This activity is designed to introduce the teachers to this feature of the FTE website as a tool for accessing economic indicators in one place.

If there is Internet access in the classroom, you can simply project the barometer. If there is not Internet access, you will need to make screen prints and insert them into PowerPoint slides to project.

2. Also take some time in this session to introduce the FTE Website and the Teacher Resour ces found there. The website can still be found at www.fte.org Take some time before this session to explore and become familiar with the site. The HTML versions of the lessons are all up there. Show/remind teachers WHERE to find the EFL curriculum and where to find the professor and activity PowerPoints.EFL Curriculum: http://www.fte.org/teacher-resources/lesson-plans/efllessons/ EFL Lecture and Activity PowerPoints: http://www.fte.org/teacher-programs/eflprograms/2014-efl-prof-powerpoints/

3. Public Policies Activity : Review the Public Policies on Trial activity that you are doing with students on Thursday evening and Saturday morning.

4. Tell the teachers about the EFL Video Contest. If you haven’t already, pass out the flyer about the competition. Show the winning videos from last year and show them where they can find more details about the competition on the FTE website. The winning videos can be viewed on FTE’s Econ Live page: http://www.fte.org/student-programs/econ-live-contest-announcement/

5. Introduce the Hot Topics and explain that they are great for blended learning assignments or environments. Newer Hot Topics are available as Gooru Collections for teachers and students : http://www.fte.org/teacher-resources/blended-learning/hot-topics/

Prof Session 2 (30 min):

Focus: Participants as adult learnersPurpose: Expansion of teachers’ content knowledge. The content presented in this session may

extend beyond what might be used in the secondary school classroom.

Topics: 1) Monetary policy and 2) Trade & economic development1. Monetary policy

Discuss the Federal Reserve and how it implements policy. Role of Fed in current financial crisis (review from Thursday lecture or develop if not covered on

Thursday) Discuss the relationships among monetary policy, exchange rates, and the balance of trade

2. Trade and economic development

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 15

Discuss NAFTA, WTO, IMF, and the EU. Explain what these organizations do and how they came about. Discuss the strengths and weaknesses, successes and failures of international bodies and of multi-nation

efforts to foster economic development. Discuss role of trade and protectionism in current financial crisis.

Mentor/Professor (40 min): Discussion of Assigned Readings: Chapter 30: Globalization and the Wealth of America Chapter 31: The $750,000 Steelworker

Mentors put the teachers in new small groups (4-5) and conduct the discussion as was done Monday (making adjustments if necessary) while Professor visits small groups and is available for Q&A throughout the discussions.

Recommended use of discussion time (40 min): 15 min – Small groups discuss 1 of the 3 assigned readings sharing their questions and thoughts from their own close read and analysis. 25 min – Large group discussion. Have all the groups that discussed the first reading, share 1 or 2 interesting questions or insights that came from their discussion and then open the discussion to the whole class. Continue with the 2nd and 3rd readings (approximately 8 min per reading).

Closing and Teacher Evaluation: Teachers will be completing the program evaluation in Canvas. Remind them to bring a computer or mobile device to the final session to complete their evaluation. For teachers that don’t have a computer or mobile device, ask for volunteers from other teachers that have multiple devices or are willing to let someone use theirs when they’ve finished. Consider rewarding them with a final bonus ticket for the final drawing if they loan a computer or device to another teacher. The evaluation is password protected. Do not give them the password until the end as you don’t want them completing the evaluation too early. PASSWORD: EconEddie

Check-out: All programs will end for teachers on Friday afternoon. Teachers have the option to stay through Friday evening, with a check-out time at 10 am Saturday. It is your responsibility to make sure that teachers turn in their keys when they check-out.

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SATURDAY MORNING

Student Group Presentation Prep – Based on the number of groups and anticipated length of the presentations, allow the groups the first hour (or more) to work on and finish their presentations.

Student presentations and professor feedback. Professors leave after this portion of the program. Encourage students to use the break to say their goodbyes.

After presentations, tell the students about the Economic History for Leaders program. Like EFL it is open to rising Juniors or Seniors so EFL students that will be Juniors next year, can return next year for EHFL. It features Economic History sessions in the morning and leadership in the afternoon.

Show remaining fun videos. If you have extra time, this is a great time to kill before lunch, consider showing fun Econ videos that didn’t fit or make the cut earlier in the week. http://www.fte.org/staff-members/eflvids/

EFL 2016 – Economics Sessions - Guide for Professors & Mentors 16

Student Program Evaluation: Students will be completing the program evaluation in Canvas. Remind them to bring a computer or mobile device to the Saturday morning session to complete their evaluation. For students that don’t have a computer or mobile device, ask for volunteers from other teachers that have multiple devices or are willing to let someone use theirs when they’ve finished. Consider rewarding them with a final bonus ticket for the final drawing if they loan a computer or device to another teacher. The evaluation is password protected. Do not give them the password until the end as you don’t want them completing the evaluation too early. PASSWORD: EconEddie

Note: Check with the S.A. as they may want to conduct the evaluation on their own later in the afternoon/evening. If that’s the case, make sure they are registered in the Student Canvas course and that they and the leadership team are comfortable helping other students access the evaluation. Share with them these instructions and the evaluation password.

Mentors are responsible for the students until the lunch time listed on the schedule. Remember that the leadership staff will be on duty from lunch throughout Saturday night.

QUICK LINKS

EFL MT & Professor Session Guides & Resources Includes lecture guides, presentation slides, reading assignments, instructor guide for Economics of Public Issues 19th ed., staff resources, etc. http://www.fte.org/staff-members/efl-profs-and-mentors/

Password Protected. This page is for EFL Profs and Mentor Teachers only. Password: efl2016

Videos used during Lectures: http://www.fte.org/staff-members/eflvids/ Password Protected. This page is for EFL Profs and Mentor Teachers only. Password: efl2016

EFL Curriculum Online: http://www.fte.org/teacher-resources/lesson-plans/efllessons/

Professor PowerPoints: PowerPoints this year will be available in the Canvas Course under the module for each program location. They will be available through the summer at which point the course will be re-cycled.

UCCS Grad Credit Registration Site: http://www.uccs.edu/lases/programs-/fte-.html