Teaching the Big Ideas in Economics

Economics as a subject helps equip young people with the knowledge and skills they need to understand and navigate the complexities of the world around them. This book supports teachers, particularly those that are new to the profession or who may not be economics specialists, in teaching the key topics so they can plan and deliver lessons that maximise students‘ understanding. Covering the specifications at GCSE and A-Level, each chapter outlines the ‘big picture‘ in each topic and explores common misconceptions students have. This is followed by an example of how to effectively explain the topic to students alongside case studies and assessment for learning questions to check students‘ understanding. Chapters cover the following: Price elasticity of demand and supply The law of diminishing marginal returns and short-run cost curves ¿ Long run average cost curves and economies of scale Oligopoly and game theory The long-run aggregate supply curve and macroeconomic equilibrium Inflation and price stability The Phillips curve and natural rate of unemployment Financial institutions and money markets Highly practical and packed with strategies that teachers can use immediately in the classroom, this is essential reading for all economics teachers especially nonspecialists.