09/06/2007
Economic Education
Rationale:
Why the need for economic education in the elementary school? We can be philosophical about this or we can be pragmatic.
In Missouri elementary schools students need to begin learning economic concepts because they will study economics for the duration of public schools.
The MAP has a section that relates to economics. See Missouri Social Studies and focus on Goal #4 and the glossary.
Can we afford not to teaching about economics? One of the major principles of a social studies class is to begin preparing students for the time when they will be asked to participate in the selection of individuals and policies for the local, state and national levels of government. How can citizens make good choices if they do not have a basic understanding of economics? Citizens need the information to make social decisions.
Without some information about the basic concepts coming from economics students and citizens cannot fully appreciate nor understand the national television news or newspaper's front page.
In addition, children and adults need a basic understanding of economics so that the personal choices they make with their scarcity of resources will be wise choices. Children and adults need to learn that they cannot live beyond the resources that they have.
Economic education means different things to different people. To some, it means knowing how to make smart investments in the stock market. To others, it means knowing how to get a good deal at the supermarket or what to look for when buying an automobile.
Still others believe economics is a set of mysterious theories from each of the above views. It is believed that that economic education introduces young people to a highly useful way of thinking about basic issues and making personal and social decisions.
An understanding and application of fundamental economic concepts and principles helps students in the decision making process. The goal of economic education, then, is to foster in students the thinking skills and substantive economic knowledge necessary to become effective and participating citizens.
Resources:
Chapin & Messick EED 340 textbook pp. 189-190, p. 135, p144-149
Table 1: Economics Concepts Appropriate for Grades K-5
Table 2: Summary of Concepts by Grade Level The University of Nebraska: Omaha is one of the better places to find teaching materials for economic education. The above webpages list the economic concepts that are appropriate for students in the State of Nebraska. Additionally, each of the concepts is defined/described for the teacher. At a later date refer back to these internet pages for specific lesson plans that can be used to teach the concept.- EconEdLink | Find a Lesson EconEdLink comes to us from the National Council on Economic Education. This is the umbrella organization for the fifty Centers for Economic Education in the US. The link above is to specific lesson plans that are keyed to various economics concepts. Click on the links for the lesson plans and the standards.
- Money Does Not Grow on Trees.. This is a poorly designed webquest... the content looks OK but the actual webpage design is marginal.
- Curriculum Resources from Indiana See primary and intermediate lesson plans.
- The Mint: It Makes Cents This page will take the viewer to a lesson plan on scarcity. Back up and click on the top line of links to Earning, Saving, Spending, etc. Go down one additional level to see more lesson plans.
- Kids Bank-- A Fun Place to Learn About Money and Banking. Yes, this does have some interesting elementary economics pages. Check it out.
- Econopolis click on the "click here to view this site"
- WebQuest This appears to be a good webquest. If your understanding of economics is weak you might want to open the PowerPoint slide program that is located in Part #1 of the project. FYI: several times the term HyperStudio stack is used. HyperStudio is "something" similar to PowerPoint.
Economics Lecture But On Paper.
Sample Generalizations in Economics
A conflict between unlimited wants and limited resources creates the need for decision making.
Choices are based on the individual's value system but the value systems are to a large extent culturally derived. Needs and wants are therefore culturally derived.
All families and family members in a community are dependent upon each.
Individual producers of goods and services exchange with others to get the goods and services they need to satisfy their wants.
Consumers determine what is produced in a free economy.
Businesses provide goods and/or services they think consumers need or want.
In the marketplace, consumers and producers exchange products and services.
Prices are determined in the marketplace through the interaction of buyers and sellers.
Specialization and the division of labor increases the quantity of goods and services that can be produced with a given amount of resources.
Some of the people's wants for goods and services are satisfied through government.
Adddendum 15 November 2003
Consumer Reports for Kids Consumer Reports is an adult magazine that is designed to help people avoid purchasing goods and services that may be dangerous or not worth the money. The companion publication for students is listed above. Review the hyperlinks from the above.
Consumer Reports for Kids includes advice, ratings of toys and other
things kids buy, and fun features like Fad Alert. Consumer ... Description: Zillions (Consumer Reports for Kids) includes advice, ratings of toys and other things kids buy, and...
Category: Home > Consumer Information > Toys and Games
www.zillions.org/ - 4k -Consumer Reports Online Education Center
ConsumerReports.org: Unbiased product Ratings from the experts at ...
Product Ratings, product reviews, buying guides, product safety recalls and consumer
information from the experts at Consumer Union/Consumer Reports Magazine. ...
Description: Information, ratings, and advice on products, services, and decisions.
Category: Home > Consumer Information > Publications
www.consumerreports.org/ Consumer Reports should be a must reading for a person preparing to buy a refrigerator a car a ..... whatever...
Sample Generalizations in Economics