SUMMARY:
The goal of the economics strand is to enable students to make reasoned judgments about both personal economic questions and broader questions of economic policy. Students will develop an economic way of thinking and problem solving to understand and apply basic economic principles to decisions they will make as consumers, members of the workforce, citizens, voters, and participants in a global marketplace. This will prepare students to weigh both short-term and long-term effects of decisions as well as possible unintended consequences. The study of economics explains historical developments and patterns, the results of trade, and the distribution of income and wealth in local, regional, national, and world economies. Students will be able to analyze current issues and public policies and to understand the complex relationships among economic, political, and cultural systems.
Kindergarten:
Kindergarten students will learn the ideas behind making, selling, and the use of goods and services.
ACTIVITIES-
Hula hoop activity incorporating wants and needs. The teacher will bring in different items of both wants and needs and place two hula hoops on the ground. They will hold up an item and have a classroom discussion if it is a want or a need.
1st Grade:
First grade students will learn that people buy goods or services based on needs or wants with money they earned and saved. They will discuss the pros and cons of saving vs spending their money.
ACTIVITIES-
Students will make a wish list of small and cheap items and a list of larger more expensive items. Monitor the students spending and saving on a worksheet for a few weeks and compare how much is spent as to how much is saved. Discuss in groups how they feel about their results and if they keep the same habits up will they ever be able to buy a larger item on their wish list.
Have a classroom store and students will categorize things if it a want or a need and give a rational as to why they believe that.
2nd Grade:
Second grade students will understand the importance of decision making skills while focusing on scarcity and be able to explain what goods and services are. At this grade students will being to learn the importance of savings.
ACTIVITIES-
To learn wants vs. needs students will go on a field trip to a grocery store and fill in a worksheet on items they find that are wants and items that they find that are needs.
Online activity of, 'itsy bitsy city'.
3rd Grade:
Third grade students will learn how people have unlimited wants but decisions have to be made based upon money, opportunity and limited resources. Students will learn how to earn money and will learn the responsibility of spending and saving it.
ACTIVITIES-
Scarcity musical chairs game.
Students will earn marbles in a fish tank for good behavior, they more they save the bigger reward they will receive. For example if they spend some of their marbles they will receive a small piece of candy. If they save it they will earn a classroom pizza party.
4th Grade:
Fourth grade students will be able to explain the decision for personal spending and give examples of how goods and services can be mutually beneficial. Students will explain how specialists can improve our lives.
ACTIVITIES-
Classroom farmers markets where students decide if what they are buying is a want or a need.
Class jobs will be assigned to students so they can understand how specials can improve one's life.
Assembly line (making cards).
Online activities from: schoolastic.com
Mini shark tank game where students learn about risks and entrepreneurship.
5th Grade:
Fifth grade students will learn how to apply basic concepts of decision making skills such as determining the difference between goods and services. They will learn about microeconomics by determining the costs of things and what the benefits are of having a choice in products they purchase. Students will know that certain decision making skills help people improve ones financial lifestyle.
ACTIVITIES-
Activity focused on incentive where some students are rewarded and others are not, have a class discussion on on how it motivates some people differently.
Each group of students will be given a different form of payment (credit card, check, etc) and purchase a classroom item. Afterwards have a classroom discussion about the pros and cons of each.
6th Grade:
Sixth grade students will learn about scarcity and different methods of goods and services. They will understand the cost and benefit of obtaining credit and describe what lenders need to consider before lending money. Students will understand the benefits of having good credit.
ACTIVITIES-
Popcorn economics-Students are provided with a brown paper bag with a 'snack' some receive popcorn while other students do not. They will have a classroom discussion after this activity about what scarcity is and different solutions to resolve it.
Good/bad credit m&m activity- Students will be given 10 m&m's and a note card telling them if they have good or bad credit. They will be able to buy things around the classroom with their m&m's. The price will change for students depending on if they have good or bad credit and the students will see how this will effect someone.
The goal of the economics strand is to enable students to make reasoned judgments about both personal economic questions and broader questions of economic policy. Students will develop an economic way of thinking and problem solving to understand and apply basic economic principles to decisions they will make as consumers, members of the workforce, citizens, voters, and participants in a global marketplace. This will prepare students to weigh both short-term and long-term effects of decisions as well as possible unintended consequences. The study of economics explains historical developments and patterns, the results of trade, and the distribution of income and wealth in local, regional, national, and world economies. Students will be able to analyze current issues and public policies and to understand the complex relationships among economic, political, and cultural systems.
Kindergarten:
Kindergarten students will learn the ideas behind making, selling, and the use of goods and services.
ACTIVITIES-
Hula hoop activity incorporating wants and needs. The teacher will bring in different items of both wants and needs and place two hula hoops on the ground. They will hold up an item and have a classroom discussion if it is a want or a need.
1st Grade:
First grade students will learn that people buy goods or services based on needs or wants with money they earned and saved. They will discuss the pros and cons of saving vs spending their money.
ACTIVITIES-
Students will make a wish list of small and cheap items and a list of larger more expensive items. Monitor the students spending and saving on a worksheet for a few weeks and compare how much is spent as to how much is saved. Discuss in groups how they feel about their results and if they keep the same habits up will they ever be able to buy a larger item on their wish list.
Have a classroom store and students will categorize things if it a want or a need and give a rational as to why they believe that.
2nd Grade:
Second grade students will understand the importance of decision making skills while focusing on scarcity and be able to explain what goods and services are. At this grade students will being to learn the importance of savings.
ACTIVITIES-
To learn wants vs. needs students will go on a field trip to a grocery store and fill in a worksheet on items they find that are wants and items that they find that are needs.
Online activity of, 'itsy bitsy city'.
3rd Grade:
Third grade students will learn how people have unlimited wants but decisions have to be made based upon money, opportunity and limited resources. Students will learn how to earn money and will learn the responsibility of spending and saving it.
ACTIVITIES-
Scarcity musical chairs game.
Students will earn marbles in a fish tank for good behavior, they more they save the bigger reward they will receive. For example if they spend some of their marbles they will receive a small piece of candy. If they save it they will earn a classroom pizza party.
4th Grade:
Fourth grade students will be able to explain the decision for personal spending and give examples of how goods and services can be mutually beneficial. Students will explain how specialists can improve our lives.
ACTIVITIES-
Classroom farmers markets where students decide if what they are buying is a want or a need.
Class jobs will be assigned to students so they can understand how specials can improve one's life.
Assembly line (making cards).
Online activities from: schoolastic.com
Mini shark tank game where students learn about risks and entrepreneurship.
5th Grade:
Fifth grade students will learn how to apply basic concepts of decision making skills such as determining the difference between goods and services. They will learn about microeconomics by determining the costs of things and what the benefits are of having a choice in products they purchase. Students will know that certain decision making skills help people improve ones financial lifestyle.
ACTIVITIES-
Activity focused on incentive where some students are rewarded and others are not, have a class discussion on on how it motivates some people differently.
Each group of students will be given a different form of payment (credit card, check, etc) and purchase a classroom item. Afterwards have a classroom discussion about the pros and cons of each.
6th Grade:
Sixth grade students will learn about scarcity and different methods of goods and services. They will understand the cost and benefit of obtaining credit and describe what lenders need to consider before lending money. Students will understand the benefits of having good credit.
ACTIVITIES-
Popcorn economics-Students are provided with a brown paper bag with a 'snack' some receive popcorn while other students do not. They will have a classroom discussion after this activity about what scarcity is and different solutions to resolve it.
Good/bad credit m&m activity- Students will be given 10 m&m's and a note card telling them if they have good or bad credit. They will be able to buy things around the classroom with their m&m's. The price will change for students depending on if they have good or bad credit and the students will see how this will effect someone.
1st Grade....
2nd Grade...
3rd Grade....
4th Grade....
5th Grade....
6th Grade....