This activity provides a fun way to explore concept of economic decision making. In the lesson, students are given a limited number of “tokens” and asked to exchange those tokens for goods in preparation for pioneering in a new land. They are then asked to identify what they have left behind and give reasons for their choices. Finally, they are asked to identify the costs and benefits and the opportunity costs of their choices.
Very young students will be able to make a cost/benefit chart for the Country Mouse after hearing the classic story.
It’s December 16, 1773 and many of the citizens of Boston are furious with King George’s new tax on tea. Young Ethan, a printer’s errand boy, has been given the task of conveying information concerning an upcoming protest meeting. As he makes his rounds through the city the reader is introduced to the goods and services provided by colonial merchants. [NOTE: These lessons are based on the book "Colonial Voices Hear Them Speak" by Kay Winters. However, it is not necessary for the students to have read the book to successfully complete the activities.]
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
This publication contains 16 stories that complement the K-2 Student Storybook. Specific to grades K-2 are a variety of activities, including making coins out of salt dough or cookie dough; a song that teaches students about opportunity cost and decisions; and a game in which students learn the importance of savings.
11 out of 18 lessons from this publication relate to this EconEdLink lesson.
Created specifically for middle school mathematics teachers, this publication shows how mathematics concepts and knowledge can be used to develop economic and personal financial understandings.
1 out of 2 lessons from this publication relate to this EconEdLink lesson.