Students study a painting by van Gogh called, "Flower Beds in Holland." The students recognize that this farmer made a choice to grow flowers instead of another crop. Students are introduced to the concepts of choice and opportunity cost.
Recently published, but likely written between 1958 and 1962, What Pet Should I Get? is the delightful tale of a definitive childhood event: selecting a family pet. The activities in this lesson focus on the decision-making process. The text, told in the classic Seuss cadence and rhyme scheme, does an excellent job a describing the many choices the siblings encounter while trying to pick the perfect pet in a limited amount of time. With the repeating line “MAKE UP YOUR MIND” this picture book is a great tool for teaching choices and decision-making.
The introduction to this lesson is a brief online story about a little girl’s visit to a pet store with her father. She considers several pets before choosing a “cute and cuddly” dog. Students are reminded that pet owners are responsible for keeping their pets safe, healthy and happy. A discussion of a pet owners desire to provide the best for their pets leads to an exploration of people’s wants. The activities that follow challenge students to explore the wants of a pet owner and their desire to provide the best for their pet fish, and then the wants of a person. The students learn that the ability to discover their wants will help them establish priorities when they are faced with scarcity. During the evaluation process, students identify some of their personal wants. As a class, they discuss why some choices are the same and others are different. They take the discussion a step further exploring how their wants compare with those of siblings and adults in their lives. They discover that age, lifestyle, likes (tastes and preferences) and what one views as important (values) help to explain the differences.
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.
16 out of 18 lessons from this publication relate to this EconEdLink lesson.
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.
9 out of 17 lessons from this publication relate to this EconEdLink lesson.
This revised and updated "how to" guide is a great way to start a classroom business with your students.
2 out of 7 lessons from this publication relate to this EconEdLink lesson.