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I.
OVERVIEW OF THE LESSON
A. 1/31/2011
B.
60 minutes
C.
Dr. Dilendik
D. Grade
Level:
Third Grade
II.
BIG IDEAS
1. All economic
systems must answer what, and how, goods and services will be
produced, and who will consume those goods and services.
2. Individuals
and entities endeavor to obtain goods and services to accumulate
wealth.
III.
ESSENTIAL QUESTIONS
1. What
distribution methods are most useful in solving the scarcity of
goods and services?
2. Why do
societies use money?
3. How do we
know if an economy is going up or down?
IV.
PENNSLYVANIA STATE STANDARDS
1. 6.2.3.A:
Identify goods, services, consumers, and producers in the
local community.
2. 6.2.3.D:
Define price and how prices vary for products.
3. 6.2.3.E:
Describe the effect of local businesses opening and closing.
V.
GENERAL OBJECTIVES (Concepts)
1. Different
methods can be used to allocate goods and services.
2. Money makes
trading easier by replacing barter with transactions involving
currency, coins, or checks.
3. Fluctuations
of economic activity refer to an economic cycle.
VI.
BEHAVIORAL OBJECTIVES (Competencies)
1. Compare the
advantages and disadvantages of different methods of allocating
various goods and service.
2. Explain why
most societies depend on money.
3. Describe how
growth and decline of economic activity predicts future trends.
VII.
INSTRUCTIONAL MATERIALS
1. Paper money
2. Handout to
fill in with ideas for a hypothetical small business
3. A variety of
materials that are typically in the classroom will be available to
the students by choice to serve as their hypothetical small
business’s goods.
VIII.
VOCABULARY
1. Analyze
2. Apply
3. Create
4. Invent
5. Organize
6. Share
IX.
INSTRUCTIONAL MATERIALS
A. Introduction
a.
Students will be given a handout
encompassing activity instructions and a template expecting them
to organize and invent their own small business.
B.
Motivation
a.
Students will be instructed that
they will work in teams of four in order to draw conclusions about
the successes, failures, and financial and economic exchanges of
their invented small businesses and how they affect the economy
locally. Students will be able to relate their small business with
the local world around them, comparing their results with other
businesses that they are familiar with within their school
district.
C.
Development
a.
As students will be divided into
groups of their choice, they will organize their ideas for
creating a hypothetical small business.
b.
Students will invent successes and
failures of their small business, reenacting business
transactions.
c.
Students will apply their inventions
and create an oral presentation for examination and discussion,
sharing, exchanging, comparing, and analyzing their ideas with the
class and how they affect the economy locally.
d.
Student will write a brief summary
of their results and of their oral presentation.
e.
Students will discuss within and
outside their groups why societies use money for business and how
local businesses affect the economy. They will also discuss their
definitions of goods, services, consumers, producers, and price in
the local community.
D. Strategies
for
Diverse Learners
a.
Teams will be formed heterogeneously
to provide support for students who have difficulty reading the
instructions and analyzing the oral presentation’s results.
E.
Summary and Closure
a.
Each team of students will present
their ideas, findings, and analyses as an oral presentation for
the class and submit their brief essay that summarizes their oral
presentation. They will be encouraged to compare and analyze their
presentations with each other and discuss how each hypothetical
business would affect the economy and even each other.
F.
Assignment
a.
Students will choose a local
business and set up an interview with its owner. They will share
their hypothetical findings and ask he or she how they can relate
to them and how they feel their business affects the economy
locally and even globally.
X.
ASSESSMENT
A. Formative
a.
The teacher will evaluate each
team’s oral presentation and provide feedback both immediately and
through written comments on their brief essay, which will
summarize their ideas that they presented to the class.
B.
Summative
a. None.
XI.
Reflection and Self-Evaluation
XII.
SUGGESTED INSTRUCTIONAL STRATEGIES
(WHERE TO?)
W: How will
you help your students to know where they are headed, why they
are going there, and what ways they will be evaluated along the
way?
The materials will be distributed at the beginning of
class with an explanation, reviewing the topics covered in the
last two classes two days before. The teacher will make it clear
that this activity is a hands-on, creative way of reviewing this
information. Students will be told that the purpose of this
activity is to have students creatively relate to the topics
currently covered in class. Students will also be told that they
are meant to draw conclusions of their own regarding the economy
and its effects on goods and services, money, bartering, etc.
They will be instructed by the teacher to develop their own
opinions of economics and how their hypothetical small
businesses will provide them answers to the questions posed in
class.
H: How will
you hook and hold the students’ interest and enthusiasm through
thought provoking experiences at the beginning of each
instructional episode?
Students’ interest and enthusiasm will be maintained by
being actively involved and creatively motivated to create their
own answers to the questions posed in class, while providing
them with the freedom to create their own examples. As they work
together, their interest will remain sparked, as they bounce
ideas off each other. They will remain enthusiastic until the
end of the 60-minute lesson, since they will listen to and
discuss with their fellow classmates as each group presents
their ideas.
E: What experiences will you
provide to help students make their understandings real and
equip all learners for success throughout your course or unit?
Their
assignment will make their understandings real because they will
develop their findings in “the real world,” sharing their ideas
and current knowledge of the topics discussed in the class
outside of the classroom.
R: How will you cause
students to reflect, revisit, revise, and rethink?
Other teams will challenge and pose questions toward the
conclusions drawn by each team, requiring members to defend and
further express their presentation.
E: How will students express
their understandings and engage in meaningful self-evaluation?
Students will express their understandings of the topics
at hand through verbal, graphical, and kinesthetic learning
during their brainstorming and oral presentation.
T: How will you tailor
(differentiate) your instruction to address the unique
strengths and needs of every learner?
Students will be grouped heterogeneously in their
investigative teams and will present their results in narrative
(verbal/linguistic), kinesthetic (physical), and graphic
(logicomathematical, visual/spatial) forms.
O: How will you organize
learning experiences so that students move from teacher-guided
and concrete activities to independent applications that
emphasize growing conceptual understandings as opposed to
superficial coverage?
The
assignment will inspire the students to take this lesson out of
the classroom, and from then on, it will make them think every
time they walk into any business or store about how their
successes and failures affect the economy.
Anderson/Krathwohl Taxonomy:
In this lesson,
students are analyzing the effects of a business on
the economy and they are applying their analysis outside the
classroom through an interview.
Name: _______________________
Date: ________________________
Economics 101
Miss Heath
Directions: Divide
yourselves into groups of three or four. Together, create a
hypothetical small business. Prepare an oral presentation and a
brief 1-2 page essay on your findings.