The Business of Baseball

IV.  Presentation

A.  Opening

1)  Display groups of pennies to visually compare the purchase price of a baseball across different eras.  For example, in 1929 a baseball cost as little as 11 cents.

2)  Ask students why they think the price of a baseball has risen over time.  Use their answers to discuss the basic principle of economics and show how today’s lesson illustrates this concept using actual baseball artifacts.

B.   Lesson

1)   Introduce the example of a baseball factory that produces its product based upon supply and demand, and determines pricing based upon the cost of materials, energy, labor and transportation.  INSTRUCTOR NOTE: Be prepared to explain the operation of the factory, including factors of material, energy, labor and transportation.  Develop inquiring questions to elicit how much students understand the concept of supply and demand.

2)  Ask students to an example of a newspaper headline of a major news event from each of the five pre-assigned eras.  Engage students in an interactive dialogue about important social or economic events that may have occurred in that era as reflected by the newspaper articles, or other historical records.

3)   Have them research, record and tally a sum cost for the following items related to their assigned era: a player’s contract; a World Series ticket; a souvenir game program; a hot dog; a bag of peanuts; and a soft drink.  To expedite gathering this data, assign research responsibilities to each student.  INSTRUCTOR NOTE: Give the students approximately four minutes for this activity with the expectation that slightly more time may be necessary.

4)  Ask the press reporter from each group to present the findings.  As the data is presented by the groups, the press reporters complete their respective Economic Scorecards showing costs compiled for each era.  As a class, draw conclusions about economic trends by comparing and contrasting the findings of each group.

5)  Hold up a dollar bill, first fully unfolded then gradually folded to a smaller size, to illustrate its steadily diminishing value in relation to the goods and commodities discussed in this lesson.

 C.   Conclusion

1)   To provide additional context, introduce the cost of other items not researched by the groups, such as an average annual wage and an automobile.  Discuss the cost of these items according to the norms for that time period.  Explain how the price of these commodities has increased dramatically across the eras due to inflation and other economic factors.  INSTRUCTOR NOTE: The intent of this discussion is to compare and contrast standards of living in each of the eras discussed.

2)   Use an assortment of baseball cards to relate modern-day players with the concept of value based upon supply and demand.  Introduce the Honus Wagner T-206 baseball card from 1910 as an example of increasing worth due to scarcity of product, personal value, etc.  INSTRUCTOR NOTE: Show at least two modern-day cards of players with whom students may be familiar – then introduce the Honus Wagner card.  Find a copy of the card and background information on its history at baseballhalloffame.org.

3)   Returning to the original example of a baseball as a product, rotate a ball to show the signature of a famous ballplayer on the reverse side.  Explain how a simple variable, such as an autograph, can dramatically increase or decrease the value of a product.