Through the use of folk tales, history, and the students' own experiences, students will recognize the inter-relatedness of goods, services, money. They will locate information about barter as a means of trade, use folk tales as an historical instrument.
The level of output in an economy can be increased through specialization. Economic specialization occurs when people produce different goods and services than they consume. It requires people to exchange goods and services.
The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life. The role of government has expanded to address so-called market failures and externalities by expanding their regulatory reach to address environmental concerns, monopolistic competition and provide public goods. Governments have also introduced various social programs to provide a social safety net for low-income individuals and senior citizens.
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.
11 out of 17 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.
7 out of 15 lessons from this publication relate to this EconEdLink lesson.
This publication contains fourteen lessons that use a unique blend of games, simulations, and role playing to illustrate economics in a way elementary students will enjoy.
6 out of 16 lessons from this publication relate to this EconEdLink lesson.