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Economics
Old 04-10-2019, 03:17 PM
 
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Hello PT,
Any ideas and favorite projects that have worked well with this unit for you all?


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Old 04-10-2019, 03:52 PM
 
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A class economy can be an effective tool to teach about budgeting for needs/wants. I make a big deal out of telling students they are going to get some pretend money that they can use for class activities, art supplies, free choice, letter from the teacher, sit in teacher chair, etc. I usually give them $10 of play money.

But then reality hits. I charge them for electricity, desk rental, lunch room fee, teacher salary, taxes, etc. I still leave enough money for them to have some fun, but that's after a lot of groans as they realize the cost of paying for needs before wants.
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Economics
Old 04-10-2019, 06:01 PM
 
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For second grade I did this:
Cut out a ton of pictures from the Sunday Target insert...toys, clothes, phones, games, food, etc.

Glue them onto index cards. Put index cards up on white board.

Each child got a sheet of paper that said they had $100 to spend. But, they had to buy X items first (needs), then they could buy wants.

Or they could save their money because we would do this for three days. They had to keep a running total (subtraction), Buy things for certain people, AND they had to buy lunch, I made up a lunch court menu.

If you’re interested , PM me.
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Old 04-13-2019, 02:56 PM
 
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I connect it to real life as much as possible. I have a job application they fill out, so they each have a weekly job in order to earn a salary.

So, they have been earning money and paying fines, rent, etc. for a month, now. On Monday, they will have to pay taxes since it's tax day! They don't know that, yet... We then discuss taxes. What they are used for, etc.

Jobs change every 2 weeks, and they have to submit a new application.

This week, for homework, they had to interview their parents to find out if their parents provided a good or a service or both. We will discuss these throughout the week as we talk about goods and services.

We also do a scavenger hunt both at school and at home (homework) whereby they have to find 10 goods and list where the goods were produced. They are shocked to see how little of what they own is produced in the USA. We graph the results and discuss.

We do a bunch of other stuff, as well; something economics related each week, actually. I also want to incorporate the previous poster's Target ad idea, too.

Economics can be really fun!
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