The creators of insulin famously sold their patents for $1, stating it should belong to the world. Why has it become so expensive?

After a drug has been on the market for 20 years it typically loses patent protection, allowing competitors to create generic versions and driving down prices. Unfortunately, this has not been the case for this life-saving treatment. Discuss this with your students in NGPF's new activity series based on Business Insider's web series: So Expensive. 

Students will watch a video about a specific product or service, identify the specific factors of production that impact its price, and dig deeper by answering a few thought-provoking questions.

So Expensive: Insulin

• So Expensive - Insulin (Nearpod)
• So Expensive - Insulin (No-Tech)

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View answers to frequently asked questions about how to implement the So Expensive series activities with your students.

 
We hope this activity will help you provide your students with engaging topics to help sharpen personal finance and economics skills.

Have questions or comments? Reach out to ryan@ngpf.org

Looking for more ways to introduce economics into your personal finance classroom? Check out NGPF’s Econ Collection!

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.