Studying economics can help you in three ways. You can be a good student and pass tests if you study. You will learn things that you can use someday in your job or in your home. And you will learn things that you can use today.
You will learn about buyers and how they make choices. You will learn about workers and how they make products like clock radios, cheeseburgers, and even school books. You will learn about why people make trades using things like markets, prices, and money. You will even learn about economic problems that can come up and how the government can solve those problems.
But it all begins with choices. Can you imagine flying in a spaceship to a faraway planet? Imagine that your spaceship has a special machine that can make anything. If you walk up and say that you want ice cream, the machine makes ice cream. If you say that you want a hat, the machine makes a hat. Because of this machine, you can have anything that you want. You do not have to make choices. You do not have to pick one thing and give another thing up.
This is just imagination, though. Real life is not like that. There is no special machine to give you whatever you want. Has anyone ever said to you, "You cannot have everything you want"? It is true. You cannot have everything you want. So, you have to make choices. You pick some things and you give other things up. One of the things that economics studies is how you and other people make these choices.
There are many things that you want. You want to have good times with your family and friends. You want to breathe clean air. You want a good night's sleep every day. These are examples of wants that you can have for free. But you know that not everything you want is free. To get some of the things that you want, you have to trade something back. There are some important words that you need to learn.
Economic wants are things you wish for. Goods are things that you can touch and that meet your economic wants. When you trade for goods, you get back something that you can take away. Examples of goods are shoes, school desks, cars, and computers. Services are actions that meet your economic wants. When you trade for services, someone else does something for you. Examples of services are TV shows, baby-sitting, car washes, and trash pick-up.
You can meet your economic wants by trading for goods and services. But remember, you probably have many things you want. You probably want more things than you can have. So, you have to make choices about which goods and services you will trade for and which you will give up. How you and other people make these kinds of choices is what economics studies.
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Teacher's Notes
Making choices should be very familiar to students. Provide examples of choices that you made that day as well as choices that you know students typically make, such as what clothes to wear, what to eat for breakfast, what TV show to watch, and so on.
Emphasize the definitions of economic wants, goods, and services. Ask the students for examples to get a sense of student understanding of the difference between goods and services.
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Be the first to comment on this blog. Just below the post there is a small link that says "0 comments." Click it to send me a comment. I would love to hear from elementary school teachers.
____________________________________
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
Saturday, September 29, 2007
Monday, September 24, 2007
Lesson 1: Making Choices About Things You Want
Part 1: Focus
Maria Lopez and Paul Brown had big decisions to make. The two friends had spent the day at their school fair. Maria had won the game where you throw a dart at a wall full of balloons. She had popped one of the red balloons. That meant that she could choose one of the best prizes. But she could choose only one prize. On the shelf was a stuffed monkey and a cool alarm clock with a radio. She really wished that she could pick both prizes, but she had to pick one.
Paul was standing at the food stand. He had played the game where you pick a plastic duck out of the water. His prize was a ticket for one free sandwich. The food stand had cheeseburgers and hot dogs. Paul really wished that he could eat both sandwiches, but he had to pick just one.
Maria chose the alarm clock with the radio. She really liked the stuffed monkey. But she knew that it would just sit on her shelf. She would use the alarm clock every day to get up for school or listen to her favorite music. She decided that the clock radio was a better choice. Paul chose the cheeseburger. He really liked hot dogs. But he had eaten a hot dog for lunch that day. The cheeseburger would be something different to eat. He decided that the cheeseburger was a better choice.
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Teacher's Notes
This is the first of four lessons covering National Council of Economic Education Voluntary Standard 1 for Teaching Economics. Standard 1 is as follows:
Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
At the completion of this lesson, students will know the following benchmarks:
1. People make choices because they can't have everything they want.
2. Economic wants are desires that can be satisfied by consuming a good or service.
3. Goods are objects that can satisfy people's wants.
4. Services are actions that can satisfy people's wants.
Focus
Use the story about Maria Lopez and Paul Brown to encourage student interest in the lesson. If the local school fair is not an appropriate example, suggest some other event at which students win prizes. The first key idea to emphasize is that Maria and Paul are put into situations in which they must choose only one of two goods. The second key idea is that this choice does not depend on not having enough money. Money is not even a part of this story. Having to choose can happen whether money is involved or not. This fact allows discussion of basic economic principles even though money is not introduced until later lessons.
____________________________________
Be the first to comment on this blog. Just below the post there is a small link that says "0 comments." Click it to send me a comment. I would love to hear from elementary school teachers.
____________________________________
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
Maria Lopez and Paul Brown had big decisions to make. The two friends had spent the day at their school fair. Maria had won the game where you throw a dart at a wall full of balloons. She had popped one of the red balloons. That meant that she could choose one of the best prizes. But she could choose only one prize. On the shelf was a stuffed monkey and a cool alarm clock with a radio. She really wished that she could pick both prizes, but she had to pick one.
Paul was standing at the food stand. He had played the game where you pick a plastic duck out of the water. His prize was a ticket for one free sandwich. The food stand had cheeseburgers and hot dogs. Paul really wished that he could eat both sandwiches, but he had to pick just one.
Maria chose the alarm clock with the radio. She really liked the stuffed monkey. But she knew that it would just sit on her shelf. She would use the alarm clock every day to get up for school or listen to her favorite music. She decided that the clock radio was a better choice. Paul chose the cheeseburger. He really liked hot dogs. But he had eaten a hot dog for lunch that day. The cheeseburger would be something different to eat. He decided that the cheeseburger was a better choice.
______________________________
Teacher's Notes
This is the first of four lessons covering National Council of Economic Education Voluntary Standard 1 for Teaching Economics. Standard 1 is as follows:
Productive resources are limited. Therefore, people cannot have all the goods and services they want; as a result, they must choose some things and give up others.
At the completion of this lesson, students will know the following benchmarks:
1. People make choices because they can't have everything they want.
2. Economic wants are desires that can be satisfied by consuming a good or service.
3. Goods are objects that can satisfy people's wants.
4. Services are actions that can satisfy people's wants.
Focus
Use the story about Maria Lopez and Paul Brown to encourage student interest in the lesson. If the local school fair is not an appropriate example, suggest some other event at which students win prizes. The first key idea to emphasize is that Maria and Paul are put into situations in which they must choose only one of two goods. The second key idea is that this choice does not depend on not having enough money. Money is not even a part of this story. Having to choose can happen whether money is involved or not. This fact allows discussion of basic economic principles even though money is not introduced until later lessons.
____________________________________
Be the first to comment on this blog. Just below the post there is a small link that says "0 comments." Click it to send me a comment. I would love to hear from elementary school teachers.
____________________________________
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
Tuesday, September 18, 2007
List of Lessons (Table of Contents)
The following is the list of lessons and topics that I intend to cover in this blog. The parenthetical references to standards apply to the National Voluntary Standards for Teaching Economics. I hope that readers will comment on this list of lessons. What could be deleted? What should be added? Do the titles communicate the subjects? Are the topics age appropriate for elementary school? I would love to hear from you.
Lesson 1: You Will Have to Make Choices About Things You Want (Standard 1)
Lesson 2: When You Decide What to Buy, Things Happen (Standard 1)
Lesson 3: People Use Resources to Make Products (Standard 1)
Lesson 4: People Are Resources, Too (Standard 1)
Lesson 5: Decisions Depend on Payoffs and Costs (Standard 2)
Lesson 6: Who Should Get the Products? (Standard 3)
Lesson 7: Rewards and Penalties Can Change How People Act (Standard 4)
Lesson 8: Hey, Do You Want to Make a Trade? (Standard 5)
Lesson 9: Good Things Happen When You Become an Expert at Your Job (Standard 6)
Lesson 10: Markets Set Prices (Standard 7)
Lesson 11: High or Low Prices Change How People Act (Standard 8)
Lesson 12: What Happens When Sellers Compete? (Standard 9)
Lesson 13: A Bank Will Help You Save Money (Standard 10)
Lesson 14: Just What Is Money Anyway? (Standard 11)
Lesson 15: People Go to Work to Earn Money (Standard 13)
Lesson 16: Where Do New Products Come From? (Standard 14)
Lesson 17: Here Are Some Ideas for Getting More Work Done (Standard 15)
Lesson 18: Governments Are Part of Economics, Too (Standard 16)
Lesson 19: Sometimes Economic Problems Come Up (Standard 19)
Lesson 20: The Government Can Help Solve Economic Problems (Standard 20)
________________________________________________
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
Lesson 1: You Will Have to Make Choices About Things You Want (Standard 1)
Lesson 2: When You Decide What to Buy, Things Happen (Standard 1)
Lesson 3: People Use Resources to Make Products (Standard 1)
Lesson 4: People Are Resources, Too (Standard 1)
Lesson 5: Decisions Depend on Payoffs and Costs (Standard 2)
Lesson 6: Who Should Get the Products? (Standard 3)
Lesson 7: Rewards and Penalties Can Change How People Act (Standard 4)
Lesson 8: Hey, Do You Want to Make a Trade? (Standard 5)
Lesson 9: Good Things Happen When You Become an Expert at Your Job (Standard 6)
Lesson 10: Markets Set Prices (Standard 7)
Lesson 11: High or Low Prices Change How People Act (Standard 8)
Lesson 12: What Happens When Sellers Compete? (Standard 9)
Lesson 13: A Bank Will Help You Save Money (Standard 10)
Lesson 14: Just What Is Money Anyway? (Standard 11)
Lesson 15: People Go to Work to Earn Money (Standard 13)
Lesson 16: Where Do New Products Come From? (Standard 14)
Lesson 17: Here Are Some Ideas for Getting More Work Done (Standard 15)
Lesson 18: Governments Are Part of Economics, Too (Standard 16)
Lesson 19: Sometimes Economic Problems Come Up (Standard 19)
Lesson 20: The Government Can Help Solve Economic Problems (Standard 20)
________________________________________________
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
Wednesday, September 5, 2007
What This Blog Is About
Many states test school children for competency in economics. Teachers struggle to find and create materials to teach economics content, particularly to primary students. Content that will teach to the National Voluntary Standards for Teaching Economics will meet this need.
The National Council of Economic Education has developed 20 voluntary teaching standards. For the standards, there are benchmarks for grades four, eight, and twelve. This content is based on the grade four benchmarks. Coverage of these benchmarks leads to a table of contents containing 20 lessons, ranging from You Will Have to Make Choices About Things You Want to Rewards and Penalties Can Change How People Act to Just What Is Money Anyway to The Government Can Help Solve Economic Problems.
Some of the teaching standards have many grade four benchmarks and some have none for grade four. Therefore, there is not a one-to-one correspondence between the 20 teaching standards and 20 lessons. The lessons cover no more than five benchmarks per lesson and, with the exception of Lesson 20: The Government Can Help Solve Economic Problems, cover only the standards for which grade four benchmarks exist.
Lessons are designed to follow the Effective Teaching Lesson Plan model. Each lesson consists of five parts. Part 1 has a hypothetical story to focus students on the topic of the lesson. Part 2 contains teaching narrative that defines terms and explains concepts. Part 3 presents exercises for guided practice and independent practice. Part 4 contains material for reteaching and for enrichment. Part 5 contains assessment questions in true/false and multiple choice formats. Accompanying teacher's materials explain how to use each part of a lesson.
Every 10 to 14 days, I will post new material. The table of contents will be next, followed by lessons.
Please share your comments. My goal is to demonstrate to a publisher that this content should be a text/workbook.
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COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
The National Council of Economic Education has developed 20 voluntary teaching standards. For the standards, there are benchmarks for grades four, eight, and twelve. This content is based on the grade four benchmarks. Coverage of these benchmarks leads to a table of contents containing 20 lessons, ranging from You Will Have to Make Choices About Things You Want to Rewards and Penalties Can Change How People Act to Just What Is Money Anyway to The Government Can Help Solve Economic Problems.
Some of the teaching standards have many grade four benchmarks and some have none for grade four. Therefore, there is not a one-to-one correspondence between the 20 teaching standards and 20 lessons. The lessons cover no more than five benchmarks per lesson and, with the exception of Lesson 20: The Government Can Help Solve Economic Problems, cover only the standards for which grade four benchmarks exist.
Lessons are designed to follow the Effective Teaching Lesson Plan model. Each lesson consists of five parts. Part 1 has a hypothetical story to focus students on the topic of the lesson. Part 2 contains teaching narrative that defines terms and explains concepts. Part 3 presents exercises for guided practice and independent practice. Part 4 contains material for reteaching and for enrichment. Part 5 contains assessment questions in true/false and multiple choice formats. Accompanying teacher's materials explain how to use each part of a lesson.
Every 10 to 14 days, I will post new material. The table of contents will be next, followed by lessons.
Please share your comments. My goal is to demonstrate to a publisher that this content should be a text/workbook.
----------------------------------------------
COPYRIGHT © 2007 by Robert D. Sandman
ALL RIGHTS RESERVED. Teachers and their students may use this content as follows: Robert D. Sandman hereby grants you a nontransferable license to use the content in connection with your classes. The content is for your personal, noncommercial use only and may not be reproduced, or distributed, except that portions of the content may be provided to your students in connection with your instruction. You must include this notice on all copies that you provide to students. You may not sell, license, auction, or otherwise redistribute the content in any form. Your use of the content indicates your acceptance of these conditions. Thank you.
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