economics with 3rd graders - ProTeacher Community


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economics with 3rd graders
Old 01-03-2006, 06:42 PM
 
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Does anyone have any new, good ideas for teaching economics to 3rd graders?


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Old 01-03-2006, 08:18 PM
 
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That's a great age to have them "go shopping" (using newspaper flyers & play money) or "play store" (using some inexpensive cute school supplies & actual money).
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clydesdale115
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Economics 3rd grade
Old 01-04-2006, 12:52 PM
 
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In my son's 3rd grade gifted class, they have created a Mini-Society. It has been awesome! The class chose the name of their "society" (they are Mount Focus), had contests to design the flag, pledge, and currency. They were each given jobs in the town, like Mayor, Payroll officer, etc.

But besides their town "duties", each student (or 2 or 3 together) has to come up with a business. They submit a plan for a service or product they wish to sell, purchase a business license, poll the citizens (classmates) about what they'd be willing to pay for such an item, then create it and bring it in to sell. Payments are made in their town currency. There is strong incentive to sell and make lots of $$, because at the end of the year, their class will be able to attend Market Day, a county-wide event for other gifted 3rd grade students, where they will all buy and sell their items!

They are limited to using only $10 of real money to purchase what they need to create what they will sell ($10 max. for the year). They are encouraged not to have to use ANY real $$ - and the teacher has given them permission to use any supplies she has in the room. Plus if I help him any, my son has to pay ME (in society bucks, too bad!). Then whatever he brings in from home to sell, he has to pay an import tax to the society!

I suggested he might want to make replicas of their society's flag and sell it, but he decided it would cost too much in time and (real) $$, plus he could only sell probably 1 per class/town mate. Not worth it. His next business is on again/off again making clay pots with another student. His most successful venture has been in making Custom Bookmarks. He uses scrap poster board, markers, and fancy scissors we have at home (no $$ there). He sold bunches just before Christmas break. He had to pay a fee to make an "announcement" about his sale! (Advertising costs!) Other students have been successful selling candy (leftovers from the holidays?!). Someone made ornaments from paper, another made cardboard $$ containers for their society bucks (they call them "lavas" - Mount Focus apparently is a volcano town!)

They've had an "entrepreneur" come to speak to the class about her real-life experiences starting up a personal business. It has been great. He can't wait to get back into it and he's learning gads about economics. What a great experience! Hope this sparks some ideas for you!
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Old 02-13-2006, 11:44 AM
 
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Try www.econedlink.org for many lessons in economics!
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mskelly
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Old 05-10-2006, 04:32 AM
 
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Some great literature to use with teaching economy to third graders would be If You Give a Mouse A Cookie by Laura Numeroff. This is a great way to teach Goods and Services. I photocopy the different pages and pictures and hand them out to the students. Then I read the book and then we chart where the different tasks fall. The kids really like it. We have assigned prices to the various things that the boy provides the Mouse. It helps them to undertstand the concept. Another book is A Goat in the Rug. It's a great progression of Natural resources. You can make flo-charts of the resource from start to finish.


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