The COVID-19 (Coronavirus) pandemic offers instructors a real-world event through which to apply principles of microeconomics; basic content taught in the standard course can be used to explain much of what students read about on social media, viewed in the news, and observed through their own experiences. The decrease in economic activity seen during the pandemic can be modeled using demand and supply theory. And the concepts of elasticity of demand, scarcity, market allocation, and shortages are easy to illustrate through examples. Teachers can utilize the examples and suggested extensions to enrich their courses and engage students.
Melanie Marks, David Zirkle, and Montana Shanks
Marks, M., Zirkle, D., & Shanks, M. (2020). Teaching High School Microeconomics Using the 2020 COVID-19 Pandemic. Journal of Economics Teaching, 5(2), 16-43. DOI: 10.58311/jeconteach/6698dfe3f4d5317b4dd8c9a5dbf266696992aa0e