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Lesson 2: The Economic Way of Life
News Analysis (from the 2-day economic
journal)
The Scientific Method
Identify the Problem.
Make Assumptions or Hypothesis
Gathering of Data and Information
Data Analysis
Make Conclusion and Recommendation
Social Science Natural Science Abstract Science
HISTORY
ETHICS
POLITICAL SCIENCE
SOCIOLOGY
CHEMISTRY
BIOLOGY
PHYSICS
MATHEMATICS
Economics and Sociology
Economics and Ethics
Economics and History
History is the recorded struggle of man from the
past to the present.
Economics and Political Science
Politicians, whether
conservative or
liberal, have great
control on the
economy.
Economics and Physics
Economics and Chemistry
Economics and Biology
Economics and Mathematics
Industrial Stage
Inventions during the Industrial Revolution
Flying Shuttle for textile weaving by John Kay
Cotton gin for mechanically clearing cotton of its
seeds by Eli Whitney
Spinning Jenny for simultaneous weaving of 80
thread by James Hargreaves
Inventions…
Steam engine to
increase the
output of
coalmines
Water frame for
water operators by
Richard Arkwright
Assignment
Research on the influences of economics in people’s
lives.
Lesson 2 econ

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Lesson 2 econ