The students learn how a recession affects our economy, and how it might affect them personally. They examine the role the federal government played in dealing with the Great Recession, which lasted from December 2007 to June 2009. They analyze their thoughts about what role the federal government should play in dealing with a recession. Additionally, students will look at how the economy has recovered from the effects of recession.
To get started, the students will read Lyddie, a novel by Katherine Paterson. The novel is set mainly in Lowell, Massachusetts, in the 1840s. In Lowell the main character, 13-year-old Lyddie Worthen, works six days a week, from dawn until dusk, running weaving looms in a murky dust-and lintfilled factory, trying to save enough money to reunite her family. In reading and discussing this fine novel, the students examine basic economic concepts and explore the growth of labor unions and the role of government in a market economy. Lyddie is published by Puffin Books and is available at Amazon.com. It is also available in DVD video format and may be purchased on line at Circuit City, DVD Empire.com and Overstock.com.
Students will learn about important labor market statistics that are frequently discussed in the media. An understanding of the unemployment rate and labor force participation rate will be developed through participation in an interactive simulation game.
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.
Designed primarily for elementary and middle school students, each of the 15 lessons in this guide introduces an economics concept through activities with modeling clay.
2 out of 17 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 12 lessons from this publication relate to this EconEdLink lesson.