Are You Suprised ? s13

Megan Lucas Kathryn Elliott Natasha Cooley Nikki Hazelett November 1, 2006 Social Studies

Economic Resource Unit

Introduction: A. Economics B. Over the next five weeks sixth grade students will be learning about the different concepts of economics through various lessons.

Content: A. The different concepts that we are going to be examining in this unit are: factors of production, supply and demand, producers and consumers, resources, goods and services, competition, barter and finally scarcity. B. The students will learn new vocabulary and will learn the different economic concepts in different activities a. Vocabulary Terms that will be taught in this unit are: economics, goods, services, opportunity cost, needs, wants, supply, and demand. b. The students will lean about economics by keeping a folder of all the new vocabulary and notes taken in class and the different handouts that were passed out. There will also be several picture books that incorporate each aspect of economics that is going to be covered.

Objectives:  Students will learn new vocabulary words that are associated with economics  Students will learn the importance economics has on our everyday lives.  Students will learn how to run and create their own business

Activities: Introduction: Each activity goes over a concept of economics, and with each thing there will be a set of vocabulary words that the students will be responsible for understanding. Development: As we progress through the unit each lesson will help the students to develop their own business. The students will be able to better understand the importance of economics through the different activities. Activities: These are several activities that we will be using in the economics unit.  Students will be introduced to goods and services and they will have to come up with a list of different goods they may consume and also a list of different services they use. They will also be given a handout that further develops the difference between a goods and a service.  Students will learn about scarcity. In this activity the students will be working in groups and will be given a bag that contains several items and they will have to work together to figure out how to distribute the products and they will have to agree. Some bags may contain one item to several items in one bag. The students will further discuss any problems that occurred and how and why the distributed the way they did.  Students will learn about the factors of production. In this activity the teacher will read Little Nino’s Pizzeria by Karen Barbour. Students while listening to the story they will have to write down different examples of land, labor, and capital.  Students will put everything they learned about economics, especially supply and demand, competition, and entrepreneurship. The students will have to develop a product to sell such as baked goods, bookmarks, and other craft items that would cost the students to make under $10. The students will have to come up with a product name, price of product (using fake money), and an advertising slogan and or logo. The students will be given a day in class to buy and sell their products to other class members. The goal for the student is to see whose shop can make the most money.

Evaluation: Sample Test Questions: Multiple Choice Questions 1.) Items that can be bought and sold: a. services b. goods c. needs d. barter

2.) Things we must have to survive: a. needs b. wants c. economics d. supply

3.) Mr. Wendt works in a fish canning factory in Alaska. His job is to operate a machine that puts labels on cans. What factor of production does Mr. Wendt represent? a. land b. labor c. capital d. entrepreneurship

4.)If Lindsay uses her allowance to buy a doll is she a. Consumer b. Producer

5.)A person who washes dishes is a a. Good b. Service

Objective Questions 1.) Give an example for the following economic concepts: 1. Natural Resource: ______2. Captial Resource:______3. Human Resource:______

2.) Needs are those things that we would like to have, but can do with out Name 3 of your wants A. B. C. Short Essay Questions 1.)How do we use economics in our everyday lives? 2.) Compare supply and demand.

Instructional Resources: A. Teacher References a. http://ecedweb.unomaha.edu/K-12/home.cfm This website offers: Standards, Lesson Plans, Texts, Projects, and Activities b. http://rob.customer.netspace.net.au/tececo/ectres.html This website offers: Teacher Tools, Links to other resources, Lesson Plans c. http://www.glc.k12.ga.us/trc/cluster.asp? mode=browse&intPathID=258 Extensive resources for teaching Economics, Projects, Programs, Lesson Plans, Teacher Resource Center Dr. T's EconLinks.com: Economics Teaching Resources Dr. T's economics news, data, analysis and links for economists and anyone interested in economics, business, management, finance and investing.

Free Teacher Resources Find Online Courses, Videos, & More Free K-12 Grade Teaching Materials! www.learner.org Amazon.com: Advanced Placement Economics : Teacher Resource Manual ... Amazon.com: Advanced Placement Economics: Teacher Resource Manual: Books: John S. Morton; Rae Jean B. Goodman by John S. Morton; Rae Jean B. Goodman. www.amazon.com/Advanced-Placement-Economics-Teacher-

Resource Guides for 4-12 for NIE at The Flint Journal

To view Teacher Resource Guides grades K-12 click here. ... Grades 4-9 ... Activities and worksheets in history, economics, government and geography. ... www.flintjournal.com/nie/resource412.html - 16k - B. Student References a. A Kid’s Guide to Managing Money by Joy Wilt. This book illustrates how to manage money. b. Round and Round the Money Goes by Melvin and Gilda Berger. This book discusses the origin of money and usage of it in today’s society. c. What Will I Be? A Wish Book by Kathleen Krull Cowles. This book helps students to imagine what kind of job they want in their future. d. http://www.kidsbank.com/ This site teaches kids all about money and banking with fun, colorful characters. It also has games, virtual calculators, and other fun links. e. http://www.socialstudiesforkids.com/subjects/economics.h tm This kid-friendly website gives all kinds of information about not only economics, but other social studies topics, as well. Economics subjects include, “How Money Has Changed,” “How The Internet Has Changed Economics,” and “The Importance of Trade.” f. http://www.moneyopolis.org/new/home.asp Kids will love this interactive video game that lets you save Xerbie’s broken space ship. All you have to do is teach him about money and economics, and he will be on his way home. g. http://www.ny.frb.org/education/econexjrnl.pdf This is a printable PDF guide for kids through the world of economics. It shows kids economics in all aspects of their lives including their neighborhood, wallet, and future. h. http://investsmart.coe.uga.edu/C001759/stocksquest/mys tocks_sample.htm This game of trading and selling stocks also allows students to set up a stock portfolio, view their trading history, and lookup stock symbols. i. http://www.frbsf.org/publications/education/greateconomi sts/frames.html The Federal Reserve Bank of San Francisco’s site allows kids to navigate through a wealth of economists, economic theory, and an economic timeline. Click on the treasure hunt game, and students can take a short quiz. If they receive a 100%, the Federal Reserve Bank will send them a certificate of completion with their name on it! j. http://www.younginvestor.com/kids/ This interactive game lets kids, teens, parents, or teachers learn how to invest and plan. The site is complete with games, crossword puzzles, articles, and how-to’s. k. http://www.usmint.gov/kids/flashIndex.cfm The U.S. Mint tells kids all about coins and minting. The site is colorful and interactive, with games, cartoons, puzzles, and stories. l. http://www.publicdebt.treas.gov/sav/savkids.htm This site teaches kids all about U.S. savings bonds and other economic and money related topics. It includes games, fun facts, and more. C. Media References a. The BUSINESS AND ECONOMICS VIDEO SERIES is a four- part video series funded by Emerson Electric Company of St. Louis, MO. b. Liberty and Economics Video c. Full Focus: Immigration; Airport Economics (encore) 5-2- 06 Video d. “Homeless Blues” (by W. Smith) Willie ‘Long Time’Smith (blues) (1947) (3:09)- song e. “Get a Job” (by the Silhouettes) Silhouettes (1958) (doo- wop) (2:25)- song f. Checks and Balances: The Basics of Banking- video g. Supply and Demand- video h. Market Failure: Monopoly- video i. Economic Development: A Global Challenge © 2007- video j. “Monopoly” by Parker Brothers- board game k. A New Coat for Anna by Harriet Ziessert. © 1986- picture book. Discusses barter l. If You Give a Mouse a Cookie by Laura Joffe Numeroff- picture book. Discusses wants m. The “Painter” in A Light in the Attic by Shel Silverstein- poem. Discusses workers/producers n. Little’s Nino Pizzeria by Karen Barbour- picture book. Discusses resources o. The Mitten by Jan Brit- picture book. Discusses scarcity p. From Seed to Salad by Hannah Lyons Johnson- picture books. Discusses Interdependence q. Hunches and Bunches by Dr. Seuss- picture book. Discusses choices r. Bunny Money by Mary Ann Wells- picture book. Discusses saving and spending s. Alexander Who Used to be Rich Last Sunday by Judith Viorst- picture book. Discusses opportunity cost t. The Story of Money by Ed Steinberg- comic book. Discusses the value of money