Entrepreneurship Economics

Barbara Flowers, Brent D Hales, Gregory Valentine

Research output: Book/ReportBook

Abstract

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.
Original languageEnglish
Place of PublicationNew York, New York, USA
PublisherCouncil for Economic Education
Edition1
ISBN (Print)978-1-56183-735-9
StatePublished - Dec 12 2012

Fingerprint

Economics
Entrepreneurship
Entrepreneurs
Resources
Marketing strategy
Economic activity
Financing
Business education
Gap analysis
Economic benefits
Credit rating
Economic systems
Assets
Human capital
Creativity
Insurance
Business development
Start-up
Educational system
Business plan

Cite this

Flowers, B., Hales, B. D., & Valentine, G. (2012). Entrepreneurship Economics. (1 ed.) New York, New York, USA: Council for Economic Education.

Entrepreneurship Economics. / Flowers, Barbara; Hales, Brent D; Valentine, Gregory.

1 ed. New York, New York, USA : Council for Economic Education, 2012.

Research output: Book/ReportBook

Flowers, B, Hales, BD & Valentine, G 2012, Entrepreneurship Economics. 1 edn, Council for Economic Education, New York, New York, USA.
Flowers B, Hales BD, Valentine G. Entrepreneurship Economics. 1 ed. New York, New York, USA: Council for Economic Education, 2012.
Flowers, Barbara ; Hales, Brent D ; Valentine, Gregory. / Entrepreneurship Economics. 1 ed. New York, New York, USA : Council for Economic Education, 2012.
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