The Economics Way of Thinking: Should I Eat Fried Worms?

How to Eat Fried Worms by Thomas Rockwell…WARNING: FOR SOME OF YOU THIS MAY BE MORE LIKE YUCK-ONOMICS THAN YUM-ONOMICS!!

How to Eat Fried Worms link to see inside book

How to Eat Fried Worms

Use How to Eat Fried Worms to teach the Economics Way of Thinking.

1) Watch this video http://www.econedlink.org/interactives/index.php?iid=137 to listen to Dr. Mark Schug discuss the Economic Way of thinking.

2) Review these key economic concepts: Choice, Decision-making, Incentive, Opportunity Cost, Benefit, Costs (find the words in the EconEdLink Glossary)

3) Ask questions based on the Economic Way of Thinking, using the key concepts:

  • People Choose: Why did Billy decide to eat fried worms? What was his scarce resource? What did he decide to do?
  • All Choices Involve Costs: What were the costs for Billy to eat the fried worms? What if he decided not to eat the worms? His opportunity cost would be the next best alternative, not eating the worms.
  • People Respond to Incentives: What was Billy’s incentive for eating fried worms. Were his incentives positive or negative? What were the benefits for Billy eating the worms? Think about that shiny new bicycle!
  • The Consequences of Choices Lie in the Future: What were the consequences of Billy’s actions of deciding to eat the worms? Were there any unintended consequences due to his decision? Think about how his friends cook up those delectable dew worms!

You can access information about the movie and see a few selected clips on IMDb

Find other lesson ideas to use with this book: http://www.mce.k12tn.net/reading/fried_worms_unit.htm

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About Deborah Kozdras

Instructor and Chief Creative Officer at the Gus A. Stavros Center for Free Enterprise and Economic Education at the University of South Florida.
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1 Response to The Economics Way of Thinking: Should I Eat Fried Worms?

  1. Ilknur says:

    Its realy a lovely song Duminda..and it rendims me all the nice memadoadries we had when we were in Sri lanka.You are so luckey to be loved by so many people,they all apriadciadate you and your work.Good luck Duminda.

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