Economics in the Real World | Activity for New or Returning Economics Students

Here's a free news-based activity that teachers can use for new or returning economics students.

Getting students to apply real world events to economic theory is a key skill needed for exams. This is a simple resource that teachers can use to get students used to this practice or as a method of reminding returning year 11 or 13 economists. The single sheet document is a mocked-up broadsheet newspaper front page which references 15 real world economics events from the summer of 2022.

Suggestions for use:

New students (year 10 or 12):

• Choose one or two of the news events and complete a longer article giving more details
• Explain how each of the events (or a selection) might impact on consumers, producers/businesses, and the government
• Explain how each of the events (or a selection) illustrates scarcity in an economy
• Allocate a story to individual students and ask them to complete a more detailed article on that story. Student responses can then be used as a wall display or ask each student to undertake a quick presentation

Returning students (year 11 or 13):

• List as many topics/theories as you can that you could associate with each of the events (or a selection)
• Find a news item that could be considered a 'cause' of an economic issue and another news item that may be considered an 'effect' of an economic issue
• Ask students to choose a news item and then suggest a government economic policy that might be used to address the issue highlighted (and include a diagram?)
• For year 13 students, identify a news item (or several) that could be used as an example for both a micro and a macro topic