Economics Standard Two - Grades 4-5

Sample Activities

Students might be asked to examine the decisions made by Delaware farmers concerning which crops to plant, and then speculate on how improved transportation systems or access to markets might affect those decisions [Macroeconomics].

This activity connects with Geography Standards Two and Three.

Another 'mini-society" projects might involve a "barter day" on which no money is used. Students old keep a record of how many sales they made, and how many goods or services they were able to purchase, and compare this to days when money was used. Students would then analyze the impact on their classroom economy if money was eliminated and they bartered for all goods and services produced. Students might write a diary entry on "A Day in My Life without Money" [Macroeconomics].

To describe the costs and benefits of government regulation on the production of goods and services, students could form teams to produce friendship pins. Each team would produce as many pins as possible in a three-minute production period. At the end of production, each team totals the number of high quality pins produced and determines the labor cost per pin. This process would be repeated for at least two rounds. For the next round the teacher would announce that the government had discovered that prolonged contact with the beads used to make friendship pins could cause severe skin rash. For the worker's safety and welfare, the government passed a regulation requiring protective gloves when working with beads. Using plastic gloves, teams would then repeat the production activity. Students would analyze the data for all rounds and discuss the costs (what is sacrificed) and the benefits (what is gained) from government regulation. After discussing the benefits and costs, students could select a government regulation that effects them (seat belts, pollution regulations, food and drug testing, etc.) and analyze the costs and benefits of those regulations [Macroeconomics].

Students could investigate the various taxes used to provide support for local schools, and for each tax suggest a possible effect the tax might have on personal economic decisions (e.g., high property taxes might discourage home ownership) in order to examine the application of cost-benefit analysis to government policy-making [Macroeconomics].

This activity not only encourages a civics connection, but if students were encouraged to examine how American communities in the past (e.g., colonial New England) supported public education it would also support the history standard.

to Economics Standard Two.