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Third Grade Economics

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Dayna Harkey

on 10 July 2014

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Transcript of Third Grade Economics

Third Grade Economics
Thematic Unit

design by Dóri Sirály for Prezi
SS3E3 The student will give examples of interdependence and trade and will explain how voluntary exchange benefits both parties.
a. Describe the interdependence of consumers and producers of goods and services.
b. Describe how goods and services are allocated by price in the marketplace.
c. Explain that some things are made locally, some elsewhere in the country, and some in other countries.
d. Explain that most countries create their own currency for use as money.
SS3E4 The student will describe the costs and benefits of personal spending and saving choices.
Economics is the study of the making, buying, and selling of goods or services.

Essential Questions:
1. What is economics?
2. How does economics affect our daily lives?
3. How can we use economics to improve our lives?

Students will...
Who was Franklin D Roosevelt?
What was the Great Depression?
Our Recession today
Discuss society then and how we are today. Discuss jobs and real world problems in our economy today.
Students will come up with ideas to help improve our economy.

Economics in Our World today
What is Economics?
Learning Objective:
Students will learn new economic vocabulary terms: producers, resources (natural, human, capital), and intermediate goods through the book,
The Goat in the Rug,
as told to Charles L. Blood and Martin Link.

Economics Integrated with Reading

Read the story Authurs Pet Business by Marc Brown. The students will discuss the vocabulary terms: goods, services, entrepreneur
Lesson 1: Describe the differences and similarities between goods and services.
Lesson 2: Define entrepreneur. Discuss how Arthur fits this description.
Lesson 3: As a class, analyze and discuss the data collected in the interviews. Determine which people provide a good and which provide a service. Were any people entrepreneurs? Why or why not?

Economics Integrated with Language Arts
Reading Activity

Teacher will explain the three different types of
resources that were discussed in the book.
The teacher will then pass out index cards. The students will place the index cards in order of how they occured in the story. The students are to draw pictures that represent the three types of resources. (ex: tree for natural, hairstylist for human, a machine for capital) The class will categorize them into the correct area on the board.
ELACC3RI8: Describe the logical connection between particular sentences and paragraphs in a text (e.g., comparison, cause/effect, first/second/third in a sequence).
Language Arts Activity
Students will first watch the brainpopjr video on goods and services at

The students will then get two index cards. They will write a good on one and good on the other. The students will sit in a circle and pass the cards until everyone has different cards. Once they have recieved their cards, they will go back to their seat and write one sentence using the good and one sentence using the service.
They will underline and label the noun, verb and adjective in the sentence. We will then review the sentences on the promethan board as a class.

ELACC3L1. Demonstrate command of the conventions of standard English grammar and usage when writing or speaking.
a. Explain the function of nouns, pronouns, verbs, adjectives, and adverbs in general and their functions in particular sentences.
Economics Integrated with Science
Science Activity

Assembly Lines Art Project
In this activity students form an assembly line to make a picture. This activity will help students understand the assembly line production process. Students will appreciate the role of special jobs in a community or group.
• Paper
• Crayons
1. Draw a picture to use as a model. Use different colors for different parts of the picture.
2. Give one crayon to each group member.
3. Sit in a row with clean paper at one end.
4. Pass the clean paper and the model down the row. Each group member should copy the parts of the drawing that match his or her crayon color.
5. Make a complete picture for each group member. Check each picture against the model.
Share Your Assembly Line Pictures!
• Discuss why every group member must do their part.
• Identify products that are made on an assembly line.

Economics Integrated with Music
Economics Integrated with Math
Math Activity
3.OA.9. Identify arithmetic patterns (including patterns in the addition table or multiplication table),
and explain them using properties of operations.

Assess the reasonableness of answers using mental computations and estimation strategies including rounding.
Standard: 3.OA.8. Solve two-step word problems using the four operations.
Represent these problems using equations with a letter standing for the unknown quantity.
Students will learn the vocabulary terms income and budget. The students will watch watch a short brainpop video on budget.

Students will use math to create their budget and have to use their money when making a decision.

Pretend you receive a weekly $10 allowance. You want to buy many items. See student activities below. Although you might want to spend all $10 on doughnuts, remember that your $10 allowance must pay for all of your expenses during the week, such as soft drinks, ice cream, books, toys, movies, video games and donations. Record the number of doughnuts you would be willing and able to buy at each price during one week, using one week’s allowance. Remember, if you are willing and able to buy a number of doughnuts at a certain price, you should be willing and able to buy at least this same number of doughnuts — and probably more — at any lower price. Have students use a map and create a budget on how they are going to spend their money.
Students will understand the different natural
resources through reading science books.

Student will do a short review on nature and what we find in nature. We will discuss the different types of soil. Students will understsand the different types of natural reasources and tell us what natural resource can be made by using items in nature. (ex: Clay Soil)
Students will read the Magic School Bus book At the Waterworks. We will disucss the different ways that water effects our land.
We will then do a review on Natural Resources in Nature. We will dicuss the soil and draw pictures of the natural resource.

Informational Writing- Do an information writing on natural resources found in nature. Use science vocabulary terms (soil, clay, hummus, etc.) when writing about it.
Economics Integrated with Art
Students will listen to music and play musical
chairs. The students will notice that there arent
enough chairs for everyone. We will introduce
scarcity to the students.
21st Century Skills used throughout the unit

Creative Thinking
Critical Thinking
Commuication & Collaboration
• Demonstrate originality and inventiveness in work and understand the real world limits to adopting new ideas

Be open and responsive to new and diverse perspectives; incorporate group input and feedback into the work
Work Creatively with partners
effectively evaluate evidence, claims and beliefs
Interpret information and draw conclusions
Solve different types of problems in different ways
show ideas through communicating with partners
articulate ideas through oral, written, charts
use different types of media to help inform
Life Skills
set and meet goals
work positively and ethiccally
manage time
be accountable for results
respect diversity
collaborate effectively





Economics Vocabulary Flashcard Maker
Econ Ed website


Read the article below with a partner. Discuss the article in literature circles. Write an opinion piece on whether you think the U.S. should keep the penny. Be sure to explain why or why not using three reasons. Also remember to explain how this would effect our economy.
Global Education

Our Employment Rate Today
Watch the current video today on our employment rate. We will create a group discussion and create ideas that students create to help increase employment rate.

Read story Leah's Pony
Talk about depression.
Discuss the wages/earnings vs then and now.
Discuss the uneployment rate today

Technology Games online
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