In order to reinforce the basic disciplinary concepts of economics, see the EQ's in 1st, 2nd, and 3rd grade. Use some of these questions, especially focusing on the concepts of scarcity, choices, consumers, producers, buyers, sellers, and goods/services. These are essential disciplinary concepts to reinforce before introducing the 4th and 5th grade standards, which involve Entrepreneurs and Inventors, respectively. It is important to distinguish between Entrepreneurs and Inventors and also to discuss how some Entrepreneurs can be Inventors. Use ideas from these excellent sources:
Here are some other ideas for teaching the standards: Standard SS.4.E.1.1: Entrepreneurship Conduct a research project on Florida Entrepreneurs. Start with the text on the influence of entrepreneurs. Note attributes and accomplishments of Florida entrepreneurs. Then read Informational texts on famous Floridians and note which ones were entrepreneurs. Check out some of the other websites for more Florida EntrepreneursOnce you have read the texts, note the different social and ethnic backgrounds of at least five Florida entrepreneurs. How did they influence Florida and the local economy?
STANDARD SS.5.E.1.3 Trace the development of technology and the impact of major inventions on business productivity during the early development of the United States. Lesson 1: Using One Form of Technology (Cotton Gin) 1) Read the children's book Working Cotton. (see sample EBQ's) 2) Discuss the working conditions and productivity in the book. Ask students to find evidence in the text. 3) Work with primary source documents in the Impact of the Cotton Gin DBQ. 4) Have students create a Timeline to describe the impact of the Cotton Gin on business and the effects on work/jobs through history, using evidence from texts. Students can use the Timeline interactive from ReadWriteThink.org (see also the free Mobile App to download). Lesson 2: Research various forms of technology and the impact of major inventions. You may want to use material from this Inventions PowerPoint 1) Students begin with a T-chart that has spaces for the names of inventors and description of invention on one side and the influences on the economy on the other side. Students should construct this as a timeline so they can see the development over time. 2) Start with U.S. History: Inventors and Inventions. Students find different inventors and inventions (evidence) and make inferences about the effect on the economy. 3) Students use Enchanted Learning Inventors and Inventions & History Videos on Inventors and Inventions to find more information. 4) Students create a Timeline to record their findings and note the development of technology. Students can use the Timeline interactive from ReadWriteThink.org (see also the free Mobile App to download). You can relate to two of the 3rd grade standards through the use of EQ's (Economics Questions) related to the following standards: Standard SS.3.E.1.1 Give examples of how scarcity results in trade.
1) What does Alexander want? What is scarce? How did his scarcity problem cause him to trade? 2) What does Alexander use to get that item? 3) How is money used in the story? 4) Find examples of goods and services in the story. How does Alexander trade for goods or services? 5) What is Alexander's scarcity problem at the end of the story? What could he have done differently? 6) Alexander had a scarcity problem. Why do you think people traded with Alexander? (scarcity problem of money) Standard SS.3.E.1.3 Recognize that buyers and sellers interact to exchange goods and services through the use of trade or money. As you read, find examples of the buyers and sellers (give students a card with a B on the front and an S on the back. They hold up the card when you identify the different people as you read. At each choice point, ask students to explain how the buyers and sellers interacted to exchange goods or services through the use of money. What else could they have traded? Why is money used? (this could lead into some interesting questions that lead to other standards). The Alexander text can be used in 2nd grade to cover three of the four benchmarks. You can discuss the following disciplinary vocabulary words included in the standards: choices, limited resources, supply, demand, goods, services, benefits, costs, saving, and spending. While reading the text, ask the following EQ's (Economics Questions). Look at the cover. Read the title and glance at Alexander's image. What do you see? What do you think is a limited resource for Alexander? What do you wonder about Alexander? When you arrive at the first spending decision, stop and discuss his choice. Did he make a good choice? When he chose to spend his money, what did he give up? What are the benefits of his spending? What are the costs? Why do the individuals offer goods to Alexander? (supply goods based on what he demands) Why do you think he made the particular choices? What could he have done differently? Standard SS.2.E.1.1 Recognize that people make choices because of limited resources
The big ideas in Alexander include: money, opportunity cost, exchange, buyers, sellers, saving, and goods/services. If you analyze the standards below, you could include them all while discussing the text. Standard SS.1.E.1.1 Recognize that money is a method of exchanging goods and services Assessment Task: Use the Hands-on-Banking interactive books to introduce how people use money and the cycle of money. While viewing/reading these texts, students record evidence about how money is used. After they use information from the text to create a little book that describes how people use money to exchange goods and services. Texts:
Standard SS.1.E.1.2 Define opportunity costs as giving up one thing for another Common Core Task: After reading 18/19 in the Piggy Bank Primer from the Federal Reserve students define opportunity costs. Then they create an economic concept poster (see examples on KidsEconPosters) to illustrate their understanding of the concept. More Texts:
Common Core Task: After conducting a shared reading/viewing of some of the EconEdLink Goods and Services Interactives, students can distinguish between examples of goods and services. Using examples from the texts, students create a venn diagram to illustrate their understanding of the differences between goods and services.
Common Core Task: After conducting a shared reading/viewing text and video from BrainPop , students can distinguish people as buyers, sellers, and producers of goods and services. Using examples from the texts, students write and illustrate a page to show their understanding of: Buyers, sellers, producers, goods, and services. They should use these key vocabulary words/concepts in their writing.
Common Core Task: After conducting a shared reading with Money Bunnies Take a Vacation, students will create a Public Service Announcement about the importance of saving for future purchases. They can make puppets of the characters in the book, write a script and design the PSA as a puppet performance. For a full lesson, with text-dependent questions, use: 1st Grade: Why is saving important? created by a Florida educator. • Use the US.gov comic to help students understand how people can save money. • Use the Money Metropolis Game Standard SS.1.E.1.6 Identify that people need to make choices because of scarce resources. Common Core Task: After reading Piggy Bank Primer, (pp 12-17) as a shared reading, students will create an economics poster about scarcity, in which they will draw a picture and find an example from the story that illustrates why people need to make choices because of scarce resources.
Alexander Who Used to Be Rich Last Sunday is an excellent "hook" book to use if you are teaching the two Kindergarten NGSSS Economic Standards that deal with Needs and Wants. Interestingly, Economists do not generally distinguish between needs and wants; everything is a "want" in the discipline of economics. However, this concept is difficult to teach to young children. Therefore, you can consider "fun wants" as "wants" and "health wants" as needs, as illustrated in this EconEdLink Health Wants vs. Fun Wants interactive graphic organizer. Before conducting this lesson, you can discuss Wants and Needs through the use of the EconEdLink Health Wants vs. Fun Wants interactive graphic organizer, the Needs and Wants Brain Pop, you can use some of the ideas in Standard SS.K.E.1.4 Identify the difference between basic needs and wants.
Task: After conducting a teacher read-aloud of PBS Needs vs. Wants use the EconEdLink Health Wants vs. Fun Wants interactive graphic organizer to help students practice finding the difference between health wants (needs) vs. fun wants. Then students use a Venn Diagram to sort wants and needs from the two texts. After they use the information from the texts, they add three new ideas.
Standard SS.K.E.1.3 Recognize that people work to earn money to buy things they need or want. Task: After viewing the Jobs and Earning Money text, create a little picture book that describes how people work to earn money to buy things. Use information from the text in your response.
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AuthorDeborah Kozdras, Ph.D. Archives
February 2022
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