The nation's economy will increasingly rely on entrepreneurs to stimulate economic growth. The skill set needed to succeed in the 21st century workforce—one that values opportunity, creativity and agility—is quite different from the skill set needed during the last century. The key to success is an economic way of thinking, which should be a cornerstone of the nation's efforts to reform the educational system.
Lessons introduce students to entrepreneurship through a resource market simulation, which demonstrates how entrepreneurship promotes economic activity and benefits society. Students explore and analyze economic systems and the entrepreneur's role in the economy.
Through the 11 lessons, students will learn the role regional resources and assets play in local business development; forms of business ownership; the concepts of risk and insurance; the importance of personal financial management to the entrepreneur and how an entrepreneur's credit rating affects his or her ability to secure start-up financing; the concept of human capital within the context of entrepreneurship; the importance of marketing to entrepreneurship and the development of a marketing strategy for a given product. The final lesson includes an activity where students will conduct a gap analysis, create a business plan, and deliver an elevator pitch. Students synthesize and apply the concepts covered in this lesson book.
Entrepreneurship Economics is aligned to the Voluntary National Standards in Economics, the National Standards in K-12 Personal Finance Education, the National Standards for Business Education, and the National Content Standards for Entrepreneurship Education.