Economic Unit Plan - Manchester University
EDUC 327Economic Unit Plan3rd Grade -Social StudiesJordan Robert Moss12/7/2011The following document contains a thematic planned social studies unit that I constructed for a 3rdgrade Social Studies class. This unit focuses mainly on economics and money. The unit includes 10lessons along with a wide range of activities, books, bulletin boards, tests, quizzes and games to help thestudents find a basic understand of economics. Enjoy!
1Table of ContentsPages 1-2Table of Contents3-5Introductory PagesGrade Level and Typical LearnerRationaleGoalsStandards and Objectives6-7Unit Map7-8Parent Letter8-9Bulletin Board9-10Trade Books11-34Lesson Plans
2Grade Level and Typical LearnerA typical 3rd grade learner is between the ages of 8 and 9 years old. These students combinegreat curiosity with increased social interest. These children become increasingly able to reason, listento others, and show social give-and-take. Spatial relationships and time relationships are still hard forthem to understand. Flexibility, open-mindedness, and tolerance of unfamiliar ideas essential in socialstudies are formed to a remarkable extent by interactions with others. They are able to learn aboutpeople who live elsewhere in the world. During these early grades, children can learn the symbolicexperiences of reading books and listening to stories. However, their understanding of what they read isbased on their ability to relate the written word to their own experiences. Physically girls are developingat a faster rate than boys at this age. Social interaction is very important for the development of theseslearners placing a stress on the teacher to provide adequate opportunities for development for thestudents. As we consider these characteristics, it becomes obvious that social studies must be anessential part of the elementary curriculum to provide the essential elements for continuing thedemocratic way of life.The following document and information was taken from the position statement of the National Councilfor the Social Studies ).RationaleI have prepared this unit plan for a 3rd grade class in order to teach them about basic economicconcepts that are presented in the Indiana State Standards as well as the NCSS standards/goals. It is myhope that students start to understand basic money concepts including why and what money is usedfor, where money comes from, and where to save their money. Also during this unit I hope to teach thestudents basic economic principles that are involved in the local economy every day. Coming fromparticipation in these unit students should understand and see how decisions affect a multitude ofthings in their lives. Economics is involved in all aspects of this world which makes it imperative thatstudents learn the concepts and how to make positive decisions so they become economicallyresponsible.GoalsI want students to walk away with a basic understanding of money and economic principles. Thisincludes but is not limited to Basic understanding of where money comes from.Basic understanding of how money is made.Basic understanding of how to properly use and save money.How to write a check properly.The difference between good and services.
3 Goods and services that are found in their local economy.An understanding that economy is used and affects their lives every day.An understanding of how natural, human, and capital resources are related.Connect ways each lesson and concept is related to their everyday lives.Ways that they can help their family become more economically efficient.Standards and Objectives Used in this Unit3.4.1Give examples from the local community that illustrate the scarcity* of productiveresources*. Explain how this scarcity requires people to make choices and incuropportunity costs*. Given the video the students will, identify the term scarcity and apply it to the scarcityworksheet with 100 percent accuracy. (LP6) The students will define opportunity cost given the Econ and Me video by completing theopportunity cost worksheets with 100 percent accuracy. (LP7)3.4.2Give examples of goods* and services* provided by local business and industry. The students will define the difference between goods and services provided by localbusinesses and industries by listing 3 of each. (Goods & Services) (LP4)3.4.3Give examples of trade* in the local community and explain how trade benefitsboth parties. The students will identify the basic concepts and forms of money demonstrated bymaking three trades in the barter game. (LP1) The students will demonstrate their understanding of how money makes trading easier bycompleting the two worksheets that with 85 percent accuracy. (LP1)3.4.4Define interdependence* and give examples of how people in the local communitydepend on each other for goods and services. Given the materials to create a goods and services the poster, the students will draw orcut out at least 5 goods and services. (LP5)
4 Provided the viewing of the Econ and Me video segment about interdependence, the student’swill define what the terms interdependence and specialization mean and how they worktogether by completing the various activities with full participation and 85 percent accuracy.3.4.5List the characteristics of money* and explain how money* makes trade easier. The students will identify the basic concepts and forms of money demonstrated bymaking three trades in the barter game. (LP1) The students will demonstrate their understanding of how money makes trading easier bycompleting the two worksheets that with 85 percent accuracy. (LP1) The students will describe the process of manufacturing coins through the moneymachine activity will full participation. (LP2) The students will explain the differences between paper money and coin money bycompleting the worksheets for the section with 90 percent accuracy. (LP2)3.4.6Identify different ways people save their income and explain advantages anddisadvantages of each.Example: Home “piggy bank,” savings accounts, etc. Given the movie clip and the information in the money packet, the students will identify howpeople use and save their money by completing a check book activity and answering shortanswer questions with 100 percent accuracy. (LP3)3.4.7Explain that buyers and sellers interact to determine the prices* of goods andservices in markets. The students will identify the basic concepts and forms of money demonstrated bymaking three trades in the barter game. (LP1) The students will demonstrate their understanding of how money makes trading easier bycompleting the two worksheets that with 85 percent accuracy. (LP1)
53.4.8Illustrate how people compare benefits and costs when making choices anddecisions as consumers and producers.Example: When a family is deciding whether to buy a car, they have to comparethe benefit of having personal transportation with the cost of buying andmaintaining the car. Given the goods and services used in the classroom the students will identify 10 goods andservices they consume with 100 percent accuracy. (LP8)3.4.9Gather data from a variety of information resources* about a change that will havean economic impact on the community.Example: Invite a community leader to discuss the decision to build a bigger baseballpark in the community. Use the local chamber of commerce and government Websites to research the impact a new recreation center will have on young people andtheir families.Scarcity: the idea that resources are limited in relation to people’s wantsProductive resources: human resources, natural resources and capital resourcesOpportunity cost: in making a choice, opportunity cost is the best alternative you do not chooseGoods: tangible objects, such as food or toys, that can satisfy people’s wantsServices: actions that someone does for someone else, such as dental care or trash removalTrade: the voluntary buying and selling of goods and servicesInterdependence: reliance on each other to produce goods and servicesCharacteristics of money: scarce (not easily found or duplicated), durable, easy to carry andeasy to divide* Money: objects widely accepted in exchange for goods and services* Price: payment in money for goods, service or resources* Information resources: print media, such as books, magazines and newspapers; electronicmedia, such as radio, television, Web sites and databases; and community resources, such asindividuals and organizations******** Given various topics in class, students will be split up into 5 groups to identify the human,natural, and capital resources for that specific good with a presentation given to the class with100 percent accuracy. (LP9) Guest Speaker
6How?Why?Unit Web9. Production1. MoneyO3rd GradeEconomics Unit8. Consumption4. Goods &ServicesWhereG&S PosterNatural5. Scarcity10. ResourcesCapital6. OpportunityCostHuman7. InterdependenceAll lessons will be guided by video and a provided packet. Extension activities includeposters, games, worksheets, discussion questions, quizzes, and 2 tests.
7Parent LetterDear 3rd grade parents,In the upcoming weeks, we are going to move our social studies focus toeconomics. We will be working on this unit for about four weeks. I am very excited andbelieve that the information presented will be very helpful and provide a basicfoundation for your student’s economic development.During this unit, we will be doing a lot of exciting activities, projects, and gamesto enhance your child’s learning. The first week of this unit will focus on money. Thestudents will be learning about the history of money, the production of money, and theuses of money. We will be following a video that takes an in depth looks at each of thetopics listed above.After the students have obtained a basic understanding about money, we willmove our focus to basic economic principles that present the foundation for becomingeconomically responsible. We will focus on goods and services, scarcity, opportunitycost, interdependence, production, and consumption. These concepts will behighlighted and guided by the video we will be watching daily entitled Econ and Me. Thisvideo brings economics to life for five students in elementary school and shows themhow economy is used every day in their lives. This has been a very successful andengaging tool that has produced excellent results in the past.We will be using a packet that goes along with the videos that includes variousworksheets and activities that will be done in and out of class. We also plan on makinga goods and services project during this unit. This unit is developed to engage andconnect the material to the student’s surroundings in the classroom, at home, and inthe community.Thanks for your time and hard work this year. Let’s keep it going! Please feelfree to contact me with any questions or comments you might have about this unit oranything else!Sincerely,Mr. Jordan Moss
8Trade BooksBook Title: Let it Shine: Stories of Black Women Freedom Fighters*Author: Andrea Davis PinkneySummary: The various stories of women freedom fighters incorporates economics themes, including theeconomics of slavery itself.Book Title: Making Cents: Every Kid's Guide to MoneyAuthor: Elizabeth WilkinsonSummary: This story contains interesting facts, great moneymaking ideas and hands-on activities forstudents to make money.Book Title: A Pocketful of Cricket*Author: Rebecca CaudillSummary: A young boy stuffs his pocket full of things he valuesBook Title: "Keepsake" in Honey I Love*Author: Eloise GreenfieldSummary: This poem tells the story of a girl who saves a nickel because of the special value sheplaces on it.Book Title: Kids at Work: Lewis Hine and the Crusade Against Child Labor*Author: Russell FreedmanSummary: This book contains amazing photographs, taken by Lewis Hine, of child labor in the UnitedStates before World War I. During this time, Hine was working as an investigative photographer for theNational Child Labor Committee.Book Title: A Gift for Mama*Author: Esther HautzigSummary: Sara has always made presents for her family, but for mother's day she decides to buy hermother a present. Sara works hard for her grandmother, eventually saving and earning enough moneyto buy a gift for her mother.Book Title: The Fall of the Berlin Wall: The Cold War Ends*Author: Nigel KellySummary: This book explains how the Cold War began, persisted, and ended in a way that elementarystudents can understand.Book Title: The Printer's ApprenticeAuthor: Stephen KrenskySummary: This story presents the trial of John Peter Zenger, a 1700s New York newspaper publisher,whose landmark case significantly affected American journalism.
9Book Title: A Birthday for FrancesAuthor: Russell HobanSummary: This story discusses why people trade or barter for things.Book Title: A Country Far Away*Author: Nigel Gray & Philippe DupasquierSummary: Two boys consume different things; one boy lives in a village in Africa, while the other boylives in a Western nation.Bulletin BoardMy class bulletin board will include all of the student’s goods and services poster that they created.After the students complete their posters they will be hung out on the bulletin board hallway so othercan see all of the goods and services that the students use at home and in school.Our Classes Goods and ServicesUnder each poster will be a local business that provides a good or service to the community. Thebusiness’s name, number, location, and what they specialize in will be under the poster.
10Field Trip/Guest SpeakerAfter thinking about how I could incorporate a guest speaker or a field trip to this lesson, it hit me. Ishould take the class to the newly constructed Parkview Field in Fort Wayne. There the students wouldsee how economic development helped the city prosper. There they could speak to a representativeabout the different economic issues that are were and are involved in the newly developed baseballfield.Technology and LiteratureI plan to use a variety of technology and literature in this thematic unit plan. First, I will be usinga TV and DVD player in almost every lesson. I will also be using the internet, PowerPoint, and computergames to enhance the learning of my students. I plan to have a library section of economic themedbooks in the classroom for students to read during free read time. I will also be using an overheadprojector to complete a lot of worksheets and activities. I believe that technology and literature will playan important part in this unit and will help students grasp information. This just allows opportunity fordifferent learners to succeed.Pre/Post TestPretest- Pretest will be given before the Unit. The pre-test will be the combinationof Test 1, Quiz 1, and Quiz 2. This will be all multiple choice and true/false. Testcan be found in the handout packet.Post Test- Post test will be administered as the end of unit test. See handoutpacket for test and answer key.
11UNIT PLAN LESSONS #1-10Lesson #1Economic Unit PlanLesson Plan #1By: Jordan MossLesson: History of MoneyLength: 30 MinutesAge or Grade Level Intended: 3rd GradeAcademic Standard(s):3.4.5 List the characteristics of money* and explain how money* makes trade easier.3.4.7Explain that buyers and sellers interact to determine the prices* of goods andservices in markets.3.4.3Give examples of trade* in the local community and explain how trade benefitsboth parties.Performance Objectives:The students will identify the basic concepts and forms of money demonstrated by making threetrades in the barter game.The students will demonstrate their understanding of how money makes trading easier bycompleting the two worksheets that with 85 percent accuracy.Assessment:The students will play the barter game. They must make at least three documented trades to earnfull credit. This will be completed in class. They will document this by writing down thetransaction on a paper and turning it in at the end of the game.The students will be given two worksheets to complete. “What can you do with 2 bananas?” And“Which is worth more?” Students will be grade and awarded 15 points per worksheet. They willbe due at the beginning of class the next day.
12Advance Preparation by Teacher: DVD and TV must be ready to use. Teacher must watch the DVD ahead of time to find start and stop times along withguiding discussion questions. Rules and index cards for the Barter game. (5 index cards per students)\ Markers (students provide) Copies of the unit “Money Unit” packet for each student. The packet includes all theworksheets for the unit.Procedure:Introduction/Motivation:Explain to the students how we are starting an Economics unit. This unit will provide basicterms and knowledge. Try and connect things we learn to your everyday lives because youmay not realize that economics is used every day with most daily decisions. We will beusing a couple videos that guide our learning. We will start this unit with the big M-Word“Money”.Before viewing the video, ask the students to write down every time and place they see moneybeing used. (Blooms: Knowledge) Remind them in addition to cash, money might change handsin forms of checks or money orders. Instruct the students to watch for different forms of moneythat is shown in the video. Students should write these findings down on notes. Then watch thevideo. (Gardner’s: Visual/Intrapersonal)Step-by-Step Plan:1. The video should play from 0:00-9:45 min.2. Once the video is done, have a class discussion with the students, what forms ofmoney did you see? (Gardner’s: Interpersonal)How did these compare to forms of money you use?What forms of money do your parents use? How is money similar? What makes all ofthem money? (Blooms: Comprehension)3. To help understand what money represents, discuss: What gives each form of moneyits value?4. After having a class discussion read pages 6-7, reviewing key concepts.5. Once you have a good discussion and you feel confident with your class knowledge,introduce the Barter game. The barter game will show students how trade was done
136.7.8.9.without money. Thus showing how much easier having a form of currency madetrading, buying, and selling objects.Explain the Barter (trading) game rules on page 6. (Each students needs to recordthree transactions on their transaction sheet) Students will make their own sheets usenotebook paper. Sheet should include name, who they traded with, and what wastraded. *This will be turned in at the end of class.Allow about 10 minutes for the students to Barter or trade. (Gardner’s:Interpersonal/Verbal) (Blooms: Application)Have a class discussion after the game guided by the questions found in the Bartergame section of the teacher’s book.Now, too help students understand how money has evolved over time and makestrading easier, pass out the worksheet and explain that students are supposed toanswer the following three questions on a separate piece of paper.The questions are as follows, what are the advantages and disadvantages of each formof money? What makes money easier to use today than in the past? Why wasbartering easier in ancient times than it is today? This paper will be stapled to themoney packet presented to the students at the beginning of the Unit.CLOSURE:10. Also assign the “which is worth more” worksheet for homework. Read the directionsand check for understanding.11. Quickly go over the key concepts discussed today. Before money was invented, people bartered to get the products and servicesthey needed. Money has fixed denominations to make trading easier. Money has taken many forms throughout history. What are they? Money is issued by whom? The government.12. Tell the students tomorrow we will continuing our talk about money and learn aboutthe production process.Adaptations/Enrichment:1. Student with Learning Disability in Reading Comprehension.Make sure that they understand all of the directions before they start working on the tasks in thislesson. They might need the teacher to repeat the directions one or two more times. Thoroughlyread the directions to the homework so they understand the directions.2. Student with ADHDFirst, the student will sit by the teacher’s desk during the short video clip. Give them theopportunity to interact and work with the other students during the Barter game. If that studentstarts to get off task or misbehave let the student know that he is being watched and only has acertain amount of time to complete this activity. Keep them on task.3. Gifted and Talented Student in their Writing Ability
14This student will be expected to answer all questions in paragraph form. Provide extra questionsabout the money that you will teach tomorrow. These students can also try and make more tradeduring the barter game.4. Student with AutismThis might be a difficult lesson because of the different activities that the students will be doing.So have the student watch the video with the rest of the class. After the video pass out the indexcards and try and have the students draw money, coins and bills if able. He will be awardedpoints if he can draw something on 5 of the index cards.Self-Reflection:What did the students enjoy most about this lesson?Did we have enough time to complete all of the activities?Did the students grasp the knowledge?What did they struggle on?Do I need more in class time to work on the assignments?Lesson #2Social Studies UnitBy: Jordan MossLesson: Money- Production of MoneyLength: 30 minutesAge or Grade Level Intended: 3rd GradeAcademic Standard(s):3.4.5 List the characteristics of money* and explain how money* makes trade easier.Performance Objective(s):1. The students will describe the process of manufacturing coins through the moneymachine activity will full participation.
152. The students will explain the differences between paper money and coin money bycompleting the worksheets for the section with 90 percent accuracy.Assessment:Students will be graded on participation during the Money Machine activity. All students need toparticipate and contribute ideas.Students will complete “How do coins remember?” to check and further their understanding ofminting.Students will complete “where does a buck start?” worksheet to check and develop theirunderstanding of paper money.Advance Preparation by Teacher: Make sure students have worksheets in packet “Money Machine”, “Where does the BuckStart” and “How do Coins Remember?” Should already be in Unit packet. DVD and Video player. Play 9:45-24:25. Have discussion questions ready. Found in teacher packet at front of section. Have book to discuss key concepts pg.15-19 Bring in a bunch of coins for each student to look at during the class discussion. Bring in dollar bills for each student to look at during class. Bring in magnifying lens for student to use while looking at the dollar bills.Procedure:Introduction/Motivation:Before the video, pass out coins and a dollar bill to each student and let them observe the money.Pass out magnifying glasses to pass around so students can have a closer look. After giving thestudents a couple minutes to look at the money put in the video and play the section about theproduction of coins and bills. Instruct the students to take notes of the materials and process theyobserve throughout the movie. (Gardner’s: Intrapersonal/Naturalist)Step-by-Step Plan:1. After watching the video, conduct a class discussion about what they saw in the video.How were the coins and bills produced? What things surprised you? (Gardner’s:Interpersonal)2. Collect the money that was passed out at the beginning of class. (Make sure it is allaccounted for)
163. Tell students to get out their money machine worksheet and get into groups of 4 or 5.Explain the worksheet, students need to act or mime out the scenario without speaking.(Gardner’s: Bodily/Kinesthetic)4. Once all of the groups go over the process as a class to deepen understanding.5. Discuss the minting process and why it is important. Remind students that minting is themaking of the different coins. Find different picture online to show the students.6. Next, tell students to get out their “How do coins remember” worksheet?7. Have the students read it quietly and highlight important facts.8. When the students have finished reading the worksheet quietly instruct them to completethe question. “If they could design a commemorative coin or medal, who or what wouldyou want to remember?”9. Write answers up on the board for the class to see.10. Next, ask the students where paper money is printed? Why is it printed? Why is itdesigned like it is? (Blooms: Knowledge)11. Review key facts on page 18-19 about the production of bills.Closure:12. After explaining to the class abut he production of bills the students should partner upwith a neighbor and talk about the similarities and differences between paper and coinmoney. (Allow a couple minutes to discuss) (Blooms: Analyzing)13. Bring the class back together and ask a couple groups to share.14. Once they have shared, get out the study guide and go over the answers that you havecover the last couple of days. (Blooms: Evaluating)15. Tell the students to put their stuff away and let them know that tomorrow will be the finalday of money. They will learn the uses of money!Adaptations/Enrichment:5. Student with Learning Disability in Reading Comprehension.Make sure that they understand all of the directions before they start working on the tasks in thislesson. They might need the teacher to repeat the directions one or two more times. Make surethey are close to an advanced reader in case they need some assistance and the teacher is busy.6. Student with ADHDThe students will be seated next to the teacher during the movie. Once the movie is done makesure that student is placed in a group that will keep him on task during the role play. Make sureto call on him and keep him active during class discussions.7. Gifted and Talented Student in their Writing AbilityHave the gifted and talented students write a paragraph for the similarities and differences of billand coin money. Make sure they are in groups where they can lead and help other studentsunderstand.8. Student with Autism
17The student with autism will probably struggle mightily with this lesson. So have the “Design adollar” worksheet that is in the student’s packet available for that student to draw on. Also allowthat student to play with the money with supervision.Self-Reflection:Did the students find the difference between paper and coin money?How long did this lesson take?What can I change to make this lesson better?Was there too much to process in this lesson?Will it be a good transition into tomorrow’s lesson?Lesson #3Lesson Title: Money UsesAcademic Standards:3.4.6each.Identify different ways people save their income and explain advantages and disadvantages ofPerformance Objectives:Given the movie clip and the information in the money packet, the students will identify how people useand save their money by completing a check book activity and answering short answer questions with100 percent accuracy.Advanced preparation by the teacher:Money Video. DVD player and TV to use in class. Correct copies of pages in the activity book (studentsshould already have packet) Copies of short answer questions for students. Check books and blankchecks for each student (Get from local bank)Lesson Plan: Teacher will show video and discuss the uses and ways people save their money. Guidingquestions can be found in teacher packet. The teacher should make a list of way that peoplesave money on the board. Explaining the pros and cons of each one and which one is the beststrategy. After watching the money video the teacher will talk about ways people save their money andthen pass out checkbooks and blank checks
18 The teacher will walk through step-by-step with the students how to fill out a check, balance acheck book, fill out a deposit form, and withdraw cash from a bank. Once the teacher and class have practiced filling out the various bank forms the teacher willpass out the short answer worksheet. The students will be given the rest of the time to complete the questions. If they do not get theworksheet completed then they will need to finish it at home and turn it in tomorrow. Students will also read and complete Can Money Work for you ? worksheet at home. Tellstudents that they should try to complete this activity with parents help. Bring back findings todiscuss tomorrow in class. Tell the student will learn about goods and services tomorrow.Assessment:The students will be graded on their responses to the short answer questions. They will also be awardedparticipation and points for participating and completing their bank forms with the class.STOP:ASSESSMENT: Money Test will be given with students being tested over the first 3 lesson plans. Studyguide will go home at the end of the day after the third lesson. The next class will be test review forthe students. Test is T or F with three short answer questions.Students will be split up into 5 groups for review game. Questions will be given worth various pointvalues. Questions will come from the test.START OF ECON and ME section. GO!Lesson #4Lesson: Goods and ServicesLength: 25 minutesAge or Grade Level Intended: 3rd GradeAcademic Standard(s):3.4.2 Give examples of goods* and services* provided by local business and industry.Performance Objective(s):The students will define the difference between goods and services provided by local businessesand industries by listing 3 of each. (Goods & Services)Assessment:
19Students will be assessed by filling out a good and services chart at the end of the lesson.Students need to identify 3 goods and 3 services provided by local businesses and industries.Extra credit will be given if they can correctly identify 5 each.Advance Preparation by Teacher: List of local Businesses goodsList o
Economics Unit 1. Money How? Why? Where 4. Goods & Services 10. Resources Natural Capital Human 9. Production 8. Consumption 5. Scarcity Cost 7. Interdependence G&S Poster All lessons will be guided by video and a provided packet. Extension activities include posters, games, workshe
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