Economic Enigmas Putting what you know to work

Economic Enigmas Putting what you know to work

Analyzing Economic Enigmas You and a partner will use the principles of economic thinking to help analyze TWO economic enigmas. Remember: Economic enigmas are puzzles or riddles that might be explained through an economic analysis Put both of your names on the handout. You will turn this in today!

Enigma #1 Carefully consider the economic data shown on the next slide. After analyzing the graphs, table, and photograph, identify the economic enigma you THINK the data lead to.

Enigma #1 What is the Enigma? Hint: Think of a QUESTION that the data might lead you to? Example: blah? ” “Why do people…blah,

Enigma #1 Here’s Why what it actually is… do people pay for bottled water when it is so much more expensive than tap water?

Enigma #1 On your handout, list any principles of the economic way of thinking that help explain this enigma. Then, choose the ONE principle that you believe best explains this enigma and describe why. Use the reading from last class to help you remember the 7 Principles of Economic Thinking.

Why do people pay for bottled water when it is much more expensive than tap water?

Enigma #2 Carefully consider the economic data shown on the next slide. After analyzing the graphs, table, and photograph, identify the economic enigma you THINK the data lead to.

Enigma #2 What is the Enigma? Remember: Think of a QUESTION that the data might lead you to?

Enigma #1 Here’s Why what it actually is… are there so many Starbucks so close together?

Enigma #2 On your handout, list any principles of the economic way of thinking that help explain this enigma. Then, choose the ONE principle that you believe best explains this enigma and describe why. Use the reading from last class to help you remember the 7 Principles of Economic Thinking.

Why are there so many Starbucks so close together?

Something to consider… Consider your opinion on the following statement: “Everyone should attend college. ” Then, go stand in the corner of the classroom that best represents your viewpoint.

Strongly Agree Strongly Disagree Somewhat Agree Somewhat Disagree Whiteboard at front of room

Discuss… With the other people in your corner, briefly discuss your rationale. ONE student from each group will share the group’s opinion.

Next… Let’s read “The Power to Choose” What reasons does Ryan Allis give for deciding to attend college? Do you think he made the right decision? Why or why not?

Final question… Was your score consistent with the decision you think you will make (or have already made) about attending college?