SS1


Grade 1, Social Studies Std 4: Describe the role of money in everyday life. • Explaining differences between wants and needs • Explaining concepts of saving and borrowing • Explaining differences between buyers and sellers

Lesson Plans: Big Green Pocketbook Learn the difference between goods and services and the importance of saving in this basic economics lesson. Little Star's Problem Students will define cost as what you give up when you decide to do something. Tricks for Treats Students will recognize that people (and animals) will work for incentives. Uncle Jed's Barbershop Using the children's story Uncle Jed's Barbershop, by Margaree Mitchell, students discover not only the differences between life now and long ago, but how the same economic principles still apply. Norman Rockwell's Curiosity Shop Students will recognize that exchange is trading goods and services with people for other goods and services or for money. If You Give a Mouse a Cookie Using this book by Laura Numeroff, students will explore the system of exchange, with an emphasis on unlimited wants, goods, and services. What Would You Work Hard For? Students will perform a simulation to learn about value, abundance, and scarcity and asks them to consider the things that they’d be willing to work very hard for. Coin Shaped Books After reviewing United States coins throughout history, students create shape books for their favorite coins. Each book contains text and illustrations created by the students. Cha-Ching students will create a class store where they will experiment in the roles as vendor and consumer. Students will use play money to buy and sell various products, while keeping track of spending and profits. A Trip to the Bank The purpose of the lesson is to learn about area banks and how they are affected by the needs and events that occur in a community. Goods and Services The purpose of this lesson is to understand characteristics of the economic terms goods and services. Producers and Consumers This lesson will teach the difference between producers and consumers. It provides an interactive way for students to get involved and actually become producers and consumers.

Resources: Coin Poems: Help children learn to identify pennies, nickels, dimes, and quarters. KidsBank: This is a tutorial website brought to you by Sovereign Bank that explains the fundamentals of money and banking to children. Econopolis: This site was designed to teach children about economics. Money Instructor: Resources on earning, saving, spending, etc. The Difference Between Needs and Wants: Water, food, clothing, shelter, and clean air are all introduced and discussed as your students learn about the difference between a need and a want. Short video from United Streaming. Production Workers and the Goods They Make: Learn about the people who make or grow the goods we need—production workers. See how these workers make trucks and houses and grow food for the community. Understand simple explanations of the terms goods and services, consumers, income, etc. Short video from United Streaming. Suggestions for English Language Learners: (E/B=Entering/Beginning, D=Developing, E=Expanding) (E/B) Students give an oral response to simple questions. (E/B) Students label illustrations. (E/B) Students draw symbols or logos for products in the marketplace. (E/B) Show visuals and have students respond by pointing using like, don't like. (E/B) Students categorize and review orally: I like ice cream.; I don't like medicine. (E/B) Use visuals to show contrast of wants (ice cream, toys, etc.) and needs (water, food, shelter). Attach a class organizer. (D) Students give an oral response to more complex questions: Do you want or need ________? (D) Have students role-play using visuals: I really like _________.; I really don't like _________.; I want __________.; I really don't want ________.; I need ________. (D) Pair students and have them tell about and draw favorite things, then categorize them by wants, needs. (D) Students compare/contrast the attributes of two products. (E) Students state advantages of using one product over another. (E) Students write sentences and place under want/need chart. (E) Students cut magazine pictures to illustrate wants and needs and write sentences to make a book. (E) Students generate their own questions to elicit responses from a peer. (E/B, D, E) Students listen to stories that illustrate how work affects family, school and community. (E/B, D, E) Students discuss currency used in their country and give examples of how much a common item would be in their currency.
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