Online Lesson

Economic Spotter: Trade in Colonial History

Introduction:

Would you like to go back in history in a time machine? Would you be able to spot economic concepts? We know that economics helped shape our history, but can you recognize those concepts when you read about history? You are going to take a time machine back to Boston Harbor in 1680. Your job is to be an economic spotter and see if you can recognize trade as it happened in 1680.

Task:

You are going to keep a list of different kinds of trade that you find in the story. Then you are going to explain in paragraph form what trade is and how trade and specialization might have helped people in the colonies.

Process:

1. You are going to be given a chance to go back in history on a time machine. This journey is going to take you to Boston Harbor in 1680. Your job is to be an economic spotter. Can you spot and explain economic concepts within a historical time frame?

2. When two people exchange goods and services or money, it is called trade. And trading goods and services with people for other goods and services or money is called exchange.
	Have you ever traded something with another person? Were you and the other person happy after you traded?

3. When people trade voluntarily -- because they want to -- both parties usually think that they are better off after the trade. You should never trade something when you are going to be unhappy after the trade. You should be better off after the exchange, or you shouldn't have traded.

• Did you ever use money as an exchange for candy or gum?
• Were you happy that you exchanged money for those goods?
• Was the store happy with the money that you exchanged for the candy or gum?

4. Now click on www.usmint.gov/kids/timeMachine/ (This link may require the use of Internet Explorer, if the link doesn't work, use this Colonization activity) and keep a list of all the ways trade is used in the story.

5. For help with your paragraph, you can find more information about trade and trade specialization in this interactive activity. 

Conclusion:

1. Why was Boston Harbor important to the colonies?
2. What were the ships coming into Boston carrying?
3. What were the ships leaving Boston carrying?
4. Where did the furs come from?
5. Why could the Massachusetts Bay Colony specialize in beaver pelts?
6. What is a shilling and what did it get exchanged for?

Assessment Activity:

Go back to the website: www.usmint.gov/kids/timeMachine/ and this time click on "Time Trackers" to discover the different kinds of money used in the story and (other historical facts).

Write a paragraph in which you tell what exchange is and what sort of exchanges took place in Boston, 1680. Tell how specialization helped people in the colonies trade with England.