Lessons on Concept '' for K-5
Why We Save
Grades K-2 / Lesson 8, Personal Finance Economics K-12: Pocketwise. (PDF Format) Copyright ©1996, Council for Economic Education, New York, NY 10036. Used with permission.
The Goat in the Rug*
Grades 1-3 / Geraldine, a goat, tells the story of a Navajo weaver who produces a rug using the goat's mohair. Learn about economics: producers, resources (natural, human, capital), intermediate goods; and Language Arts: Categorizing, sequencing, noting details, writing personal narrative. ©SPEC Publishing.
If you Give a Mouse a Cookie
Grades 1-3 / A little mouse shows up at a young man's house. The young man gives the mouse a cookie and starts a chain of events. Learn about unlimited wants, and goods and services. . ©SPEC Publishing.
Why Do I Want All This Stuff?
Grades 3-5 / Lesson 4, Personal Finance Economics 3-5: Smart Saving and Spending. Copyright ©1996, Council for Economic Education, New York, NY 10036. Used with permission.
Homer Price (the Doughnuts)*
Grades 4-6 / The doughnut machine goes on a rampage making hundreds of doughnuts. Learn about capital resources, increasing productivity, law of demand, quantity demanded, and Language Arts: using reference materials, oral expression, organizing and sequencing information. ©SPEC Publishing.
The Real McCoy*
Grades 4-6 / Elijah McCoy was an African-American inventor who successfully designed an automatic oil cup that may have inspired the popular phrase, "the real McCoy." Learn about increasing productivity and patents. ©SPEC Publishing.
Grades 4-6 / Lesson using popcorn to teach, and to help students experience, scarcity. Lesson by Mary Suiter, adapted from a lesson found in Kaleidascope, USA. Published by the Center for Entrepreneurship and Economic Education, UM-St. Louis.
When They Want Blueberries
Grades K-3 / EconFun: Students will hear Blueberries for Sal, by Robert McClosky, a story about two mothers and their offspring who wanted blueberries for the coming winter for themselves and their families. Then students will explore their own wants. Lesson 6 from Spotting the Economics: From Africa to Ice Cream.
I Have No Money; Will you Take Wampam?
Grades 3-5 / EconEdLink: Through the use of folk tales, history, and the students' own experiences, students will recognize the inter-relatedness of goods, services, money. They will locate information about barter as a means of trade, use folk tales as an historical instrument.
The Colonial Workers Web: Lesson 11
Grades 3-5 / EconFun: Students will participate in an activity to explore how workers, both today and in colonial times, worked within their societies to produce specialized goods and services and became interdependent. Lesson 11 from Adventures in Economics and U.S. History, Volume 1.
Where Did You Come From?
Grades 3-5 / EconEdLink: In this multiple intelligences lesson the students figure out why the United States imports some goods that we can grow right here!
Grades 2-3 / St. Louis FR Bank: In this lesson, students listen to a story and answer questions about a family in Central or South America that barters to get the ingredients for chicken sancocho, a kind of stew. The students complete sentences that record the various trades carried out by the family to obtain all of the ingredients for the sancocho. They participate in a trading activity where they barter with each other to get the ingredients needed to make chicken sancocho and learn about the difficulties associated with barter. They use money in a second round of the trading activity to learn about money's advantages over barter.
Grades 2 / EconEdLink: In this lesson students review the concepts of goods, services, and producers using the Internet to locate examples of each in a teacher's classroom. They learn about the three kinds of resources necessary to produce goods and provide services locating examples from a picture tour of the Crayola Factory. Through interviews they learn about the work of the people in their families and draw conclusions from their findings. Finally, they examine a picture of a farmer working in a field to identify examples of natural, human, and capital resources.
Inventors: Dreaming Up New Ideas
Grades 4-8 / EconFun: Students will read and discuss the historical book, A Head Full of Notions, about Robert Fulton. They will differentiate between inventors and entrepreneurs, describe the incentives that motivate them, and explore the important contributions they make to societys standard of living. This is Lesson 7 of Adventures in Economics and U.S. History, Volume 2
To Market To Market
Grades 3 / EconEdLink: This lesson will help students become good consumers and producers by taking turns buying and selling things in a classroom-created market. Students will establish prices for items and observe what happens during the sale of those items.
The Best Deal
Grades 4-5,6-8 / EconEdLink: Students will learn how to determine 'price per unit to help make decisions when comparing products.
The ABCs of Saving
Grades K-3 / EconEdLink: We save money to get things we can't afford to buy now. Saving for the future requires patience but it can be worth it when we get what we want the most. Successful savings depends on three elements which are presented to students as the ABCs of saving.
Economic Spotter: Supply and Demand at the Gold Rush
Grades 4-5, 6-8 / EconEdLink: During the Gold Rush, people paid exorbitant prices for ordinary objects. Why? Because of the laws of supply and demand, that's why! In the lesson, students will see how these laws fit into this great historical time.
Competition Works in Our Flavor
Grades 3-5, 6-8 / EconEdLink: Students will discover the role of the Federal Trade Commission, explain how competition encourages producers to produce more of what consumers are willing and able to buy.
The Story of Jack and the Bank Stalk
Grades 2 / EconEdLink: Fairy tales have always been used to give lessons about life. The story of Jack and the Bean Stalk is a good lesson about the importance of knowing about money and banks. The story of Jack asks the question, 'What is money?'
No Fireworks on the 4th of July
Grades 6-8 / EconEdLink: This lesson explores the differences between public and private goods.
Goods and Services: Some are Private, Some are Not
Grades 2-5 / EconEdLink: The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life.
Those Golden Jeans
Grades 3-4 / EconEdLink: This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students use the internet to identify examples of each - first in the production of pizza, then the mining of gold during the California gold rush.
Lean on Me - We Depend on Each Other
Grades 4-5 / EconEdLink: The purpose of this activity is to demonstrate that the production of most goods can be broken down into a number of specific tasks (division of labor), with each of these tasks assigned to specific workers (specialization.)
Folding Our Way to Productivity
Grades 2-5 / EconEdLink: Students role-play workers producing origami cups. They participate in two production rounds, one without training and one with training. Students observe how productivity increases through training and, as a result, how income increases.
Grades 3-5 / EconEdLink: Contrary to US methods of distribution (namely prices), the Soviet Union used different methods of distribution of its goods during the reign of Communism. This lesson will explore the benefits and consequences of each of those methods of distribution.
Earth Day - Hooray!
Grades 2-4 / St. Louis Federal Reserve Bank: In this lesson, students listen to the book Earth DayHooray! They learn how incentives change peoples behavior.
Jobs: Who Needs 'Em?
Grades 3-5 / EconEdLink: In this lesson students will look at the importance having some kind of job, at the consequences of having a job, having a non-paying job (like a stay-at-home mom), and having no job (whether it's intentional or not).
The Mystery of the Amazing Farmers
Grades 3-6, 6-8 / EconEdLink: In this lesson you will be taking on the role of an an investigative reporter to solve the Amazing Farmer Mystery. The goal will be to use seven clues provided throughout the lesson in order to figure out how so few farmers can produce enough food and fiber for the nation.
Monster Musical Chairs
Grades K-1 / St. Louis Federal Reserve Bank: Students listen to the book Monster Musical Chairs and identify the scarcity problem the monsters had: not enough chairs for every monster to have one. Students wear a picture of a want they have drawn and play a version of musical chairs where the chairs are labeled goods. Students learn that a good can satisfy a want. They also learn that because of scarcity not everyones wants are satisfied.
Grades K / EcEdWeb: My Money teaches students at four levels (generally intended for elementary school grades with the possible exception of Part IV, which may be appropriate for middle school). Each part consists of lessons on money and exercises for evaluating the student's understanding of this information and other classroom discussions about money. Includes coin recognition.
Does the Crocodile Hunter Hunt Crocs?
Grades 1 / EconEdLink: We make choices to use our natural resources. This lesson lets the students make choices that protect the wildlife of Australia from poachers.
Grades 1-3 / EconEdLink: In this lesson, students will learn about choices and opportunity costs that occur every day. While this lesson will go on throughout the day, the actual lesson is short.
Every Penny Counts
Grades 2 / EconEdLink: Follow two stories of Josh and then see if you can make the smart spending decision by comparing prices. Everyone must choose.
Little Bill the Producer
Grades 2-3 / EconEdLink: This lesson teaches the most basic vocabulary about production. People who make goods and provide services are called producers. This lesson only deals with the student making something (not identified with being a good), and that people are human beings.
We Can Earn Money (or) Working Hard for a Living
Grades 2-3 / EconEdLink: This lesson introduces students to work activities that grown-ups do to earn money. Students also explore tasks they might do at home to earn money.
What is Competition?
Grades 3-4 / EconEdLink: Students will understand what businesses are, that a marketplace exists whenever buyers and sellers exchange goods and services, and that there is competition in the market place if you have more than one seller of the same item or similar items.
No Funny Money Honey, I want the Real Thing
Grades 3 / EconEdLink: Do you know what funny money is? It's NOT the real thing! Find out how our government tries to make our money hard to copy in this lesson about real and fake money.
Grades 4 / EconEdLink: You will get the chance to learn about popcorn's history, where popcorn is grown, unscramble a timeline of Corn and complete a math treasure hunt.
The Color of Resources
Grades 4 / EconEdLink: This lesson will demonstrate the making of Crayola products to introduce natural, capital, and human resources as well as touching on some other aspects in the Crayola industry such as producers and consumers.
Big Banks, Piggy Banks
Grades 4-5 / EconEdLink: When choosing a place to put their money, people consider how safe there money will be, how easy it is to access, and whether it will earn more money. Students explore how well different savings places achieve these objectives.
Banks, Bankers, Banking
Grades 4-5 / EconEdLink: Students will demonstrate understanding of the processes associated with banking by role- playing as customers, tellers, and guards.
Banking is Interest-ing
Grades 4 / EconEdLink: Banks are important to Americans. We use banks to save money and earn interest, or borrow money and pay interest. This lesson introduces the concepts of banking to children.
Cowboy Bob Builds a Community
Grades 4 / EconEdLink: A cowboy rides into a ghost town and decides that it needs to be rebuilt. Students will select the necessary things that a town needs in order for it to function and grow.
Colonial Marketplace Lesson 10
Grades 5 / From EconFun: Students will participate as children of colonial farmers in a simulation of a market. They will first
barter, exchanging the goods they produced for
other goods. Then, in a second round, they will trade
again, using money as the medium of exchange.
On the Court with Michael Jordan
Grades 5 / St. Louis Federal Reserve: Students participate in a simulation to learn about choices, alternatives,
opportunity cost and human capital. They learn the PACED decision-making model.
Believe It or Not?
Grades 5 / EconEdLink: Advertisements can tell consumers about prices and other information that may help them in the decisions they make about what to buy. But students also should know that ads are slanted by sellers to show a product in the best light. This lesson reveals to students how advertisers use words and images to make goods and services look their best.
We are Producers and Consumers
Grades 2 / EconEdLink: Students are consumers and producers. So are their families. In this lesson students learn how they and family members fulfill these roles at home and in their community.
Widget production: Producing More, Using Less
Grades 3-5, 6-8 / EconEdLink: In the first part of the lesson students take a quiz to review the major concepts taught in Lesson 7, "Widget Production," from Master Curriculum Guide in Economics: Teaching Strategies 5-6. Students then search the web for examples of the many ways in which productivity has been increased over the years. Finally, they identify a situation where an increase in productivity could alleviate a problem and create a way to solve this problem.
Money Doesn't Grow on Trees
Grades 3-5 / This lesson introduces students to four ways people get moneythey find it, win it, receive it as a gift or earn it. Finding, winning and receiving money often depend on chance and luck. Most people get money by earning it. EconEdLink: Students explore allowances and doing work for pay as sources of extra money to buy something they want. They also differentiate between earned and unearned income. This lesson can be used alone or in combination with the lesson 'I Can Be an Entrepreneur.'
Grades K-5 / Financial Fables is an e-book with colorful bird characters who face and solve financial problems. Younger children can use the "Read to me" function that highlights text while pages are read to them. Older children can choose the "Read by myself" function to read at their own pace.
Financial Fables have related teacher lesson plans and are aligned to national economic and personal finance standards, as well as state reading standards. Interactive features, including activities and games, accompany each fable to extend learning. Additional family activities are suggested to enrich the fable.
Every Penny Counts
Grades K-2 / EconEdLink: Children and adults, confronted by a multitude of tempting consumer products, must learn to evaluate the options available to them. But how does one spend money wisely?
Those Golden Jeans
Grades 3-5 / EconEdLink: This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students use the internet to identify examples of each - first in the production of pizza, then the mining of gold during the California gold rush.