Teaching Economics in Troubled Times ─ Theory and Practice for Secondary Social Studies

In the Great Recession of 2007-2010, Americans watched their retirement savings erode and the value of their homes decline while the unemployment rate increased and GDP sank. New demands emerged for unprecedented government intervention into the economy. While these changes have a dramatic impact on society at large, they also have serious implications for the content and teaching of economics.

Teaching Economics in a Time of Unprecedented Change is a one-stop collection that helps pre- and in-service social studies teachers to foster an understanding of classic content as well as recent economic developments. Part I offers clear and teachable overviews of the nature of today’s complex economic crisis and the corollary changes in teaching economics that flow from revising and updating long-held economic assumptions. Part II provides both detailed best practices for teaching economics in the social studies classroom and frameworks for teaching economics within different contexts including personal finance, entrepreneurship, and history. Part III concludes with effective strategies for teaching at the elementary and secondary school levels based on current research on economic education. From advice on what every economics teacher should know, to tips for best education practices, to investigations into what research tells us about teaching economics, this collection provides a wealth of contextual background and teaching ideas for today’s economics and social studies educators. Additional information and resources can be found at the authors’ website neweconteaching.com.

Mark C. Schug is Professor Emeritus at University of Wisconsin-Milwaukee and former Director of the Center for Economic Education.

William C. Wood is Professor of Economics and the Director of the Center for Economic Education at James Madison University.

Introduction
Mark C. Schug
William C. Wood

Part I: The Changing Economic Scene

1. What Every High School Student and Teacher Needs to Know about Economics
James Gwartney
Mark C. Schug

2. Maynard Keynes: Dead But Not Forgotten
Scott Niederjohn

3. Free Trade: Helping Ourselves While Helping Others
Dwight R. Lee

4. Public Choice and Behavioral Economics: Implications for Instructors
Angela M. Smith
William C. Wood

5. Morality of Markets: Classroom and Conscience
J.R. Clark
Mark Schug

Part II Making Economics Cool in School

6. A Challenging Assignment in Troubled Times: What Every First Year High School Economics Teacher Needs to Know
Jane S. Lopus

7. A Jewel for Your School’s Curriculum in Uncertain Economic Times: The Advanced Placement Economics Course
John Morton

8. Vital Knowledge in Troubled Times: The Role of Personal Finance in Economic Education
Michael S. Gutter
Selena Garrison

9. Entrepreneurship Education, When and Where it Counts: The American Dream Youthpreneurship Program
Barbara Flowers

10. Economics in History: What Every High School Student and Teacher Needs to Know
Lucien Ellington

Part III Research Finding in Economic Education

11. Best Economic Education Practices for Children
Philip VanFossen

12. What Research Tells Us about Teaching High School Economics
Michael Watts
William B. Walstad