Economics Standard Two - Grades K-3

Sample Activities

Students could participate in a classroom simulation wherein they use scrip, chip, or other symbols for trade. They would keep records of how much "money" they had, and how much was paid for each item bought or sold. Students could speculate at the end of the exercise on what kinds of items work better for exchange, and compare the ease of barter and money economies [Macroeconomics].

This activity could be coordinated with a history activity, wherein students would examine different coins or types of paper money which have been used throughout American and World history, including items such as old bank note, pieces of eight, or wampum.

Students might generate a list of needs and wants for a family in their area and compare it with lists for families from other regions. The list could be illustrated with pictures or a collage of photographs. Each student would then look for differences in the items on the list for each region, and present an oral explanation of why he or she thinks there is a difference. Students could work in small groups to suggest possible strategies that families might use to provide as many of these wants as possible [Macroeconomics]

This activity connects with Geography Standard Four, and might be attached to a history activity by using families from other times as well as other places for the comparison. It lends itself to an exploration of the overall cultural contexts in which families around the world live.

to Economics Standard Two.