Sessions

 

Session 1: Earning, Spending and Saving

LESSON OBJECTIVES: 

Students will define the words earn, budget, income, spending and savings.

Students will explore different ways they can earn money.

Students will construct a weekly budget with income, spending and savings categories. 

Students will practice saving money in order to buy something they want. 

Students will examine the history of money.

HOMEWORK: 

Find something that you want to buy then create a budget to plan how you might save money to buy it. Be ready to present your budget to the class in the next session.  

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Session 2: Choosing Wisely

LESSON OBJECTIVES: 

Students will define the words economic choice and opportunity cost. 

Students will share their budget with the class. 

Students will explain how to make a wise economical choice.

Students will discover what an opportunity cost is and how it influences an economical choice. 

HOMEWORK: 

You have outgrown your bicycle. You have permission to look for a new bike. What will you look for before you decide to buy a certain bike? List the options that you will want your bicycle to have. Share your chart with the class. Explain how you decided which bike you want to buy. Describe the decision-making process you used. Be ready to share your findings with the class in the next session.

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Session 3: A Community Business

LESSON OBJECTIVES: 

Students will define the words goods, services, products, supply, demand and profit.

Students will share economical choices with the class. 

Students will compare/contrast goods and services. 

Students will explain the relationship between supply, demand and cost.

Students will discover how business owners make money through profit. 

Students will examine how business owner Madam C. J. Walker grew her business into a profitable one. 

HOMEWORK: 

National Lemonade Day activities.  

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Session 4: Using Resources

LESSON OBJECTIVES: 

Students will define the words

renewable resource, nonrenewable resource, human resource, producer, specialize and capital resource.

Students will present their National Lemonade Day business plan to the class. 

Students will compare/contrast renewable resources and nonrenewable resources.

Students will examine a resource map.

Students will explain how human resources contribute to workplace. 

Students will investigate how capital resources have changed the work force. 

Students will discover how Henry Ford changed the production of products through the assembly line.

HOMEWORK: 

Find out about ways to recycle renewable and nonrenewable resources. Make a chart showing how you could recycle different resources at home and at school. Be ready to share your chart with the class in the next session. 

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Session 5: Depending on Others

LESSON OBJECTIVES: 

Students will define the words scarcity and interdependence.

Students will explain what causes resources to become scarce. 

Students will discover how communities depend upon other communities for goods and resources.

Students will examine how volunteering helps a community's economical resources. 

HOMEWORK: 

Communities must make decisions about scarce resources. Think about another way a community could choose to use a scarce resource. Think about another way a community could choose to use a scarce resource, such as land. Write a story about it. Include examples of how people depend upon each other. Be ready to share your story with the class in the next session.

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Session 6: A World of Trade

LESSON OBJECTIVES: 

Students will define the words trade, communication, international trade, import, export and free market.

Students will present their stories to the class.   

Students will explain why people must depend upon each other when they trade for services or goods.

Students will compare/contrast trade from modern New York City, Ancient Greece and Ancient Rome.

Students will discover the importance of international trade and free markets in the modern world.