After a review of elementary economic concepts, students will apply their understanding by playing an online computer game, Lemonade Stand. This game has the students competing against themselves and others to earn the biggest profit in 25 days time (approximately 15 minutes computer time). "Daily" economic advice helps students find out where they fail in understanding the demand and supply sides of economics. Fun!
In this lesson students learn decision making skills that will help them become better consumers. As consumers they have a variety of alternatives from which to choose. They learn about the importance of price information in making their decisions. First, students gather information on different brands of athletic shoes and determine which one is the best buy for them and explain why. Then, students identify a toy or game they would like to buy. To help determine where to purchase their toy or game, students gather information from a store, a catalog, and three websites. Finally, students conduct interviews to determine the extent to which adults in their community use e-commerce. They draw generalizations from their data and send a report of their findings to the adults who were interviewed.
Everyone has at one time or another opened a lemonade or Kool-Aid Stand. What a great place to begin an economics lesson. Students can taste test three brands of lemonade and compare prices with taste – is the most expensive the best? Using a reader’s theater students will construct a supply and demand schedule and can create a bar or line graph to demonstrate market interaction between buyers and sellers.
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.
6 out of 17 lessons from this publication relate to this EconEdLink lesson.
This publication helps elementary students analyze energy and environment issues from an economics perspective.
4 out of 10 lessons from this publication relate to this EconEdLink lesson.
This publication contains complete instructions for teaching the lessons in Choices and Changes, Grades 5-6. The Choices and Changes series is designed to help students understand how the U.S. economy works and their roles in the economy as consumers, savers and workers.
5 out of 15 lessons from this publication relate to this EconEdLink lesson.