Grade 9-12
On-Demand Webinar

The Economic Way of Thinking, Scarcity, and Opportunity Cost

Time: 60 mins,
Presenter: Amanda Stiglbauer


In this webinar teachers will be able to:

  • Define scarcity and opportunity cost
  • Examine the economic way of thinking
  • Identify implicit and explicit costs of making a choice
  • Identify opportunity costs associated with decisions made each day

This video is available to view for EconEdLink members only.


In this webinar, teachers will learn the basic framework that organizes economics courses, which is known as the “Economic Way of Thinking.” This framework is used to test common economic myths and learn the true meaning behind the common phrase, “There is no such thing as a free lunch!” Opportunity cost, one of the most important concepts of economics, will also be investigated in this webinar, as teachers dive into seamless ways to help students discover that they encounter these costs every day in their decision making.