2nd Grade Unit Plan Economics

Callie Bliss 4/1/2014

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2nd Grade unit plan

Economics:
MARKET ECONOMY
Overview and RationalePage Grade Level Content Expectations (GLCEs)..Page KUDs/I Can Statements..Page

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Overview/Introduction
The main goal of history in second grade is to continue to look at social studies through the context of their local community. In this unit students will continue to connect social studies to their local community through economics. Students will continue to see how scarcity prevents people from having everything they want and will learn how opportunity cost is involved in economic decisions. Students look at businesses in their local community and describe how they meet the wants of consumers, such as themselves. Students learn about the different resources needed for the production of a good or service. Students learn how natural, human, and capital resources contribute to the production of a good or service and can describe how they are used.

Rationale
It is important for students to learn about economic concepts as they pertain to their local community. It is crucial for students to know where the natural, human, and capital resources come from for the production of goods and services. Having a better understanding of basic economic concepts will benefit them as they become active members of society.

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GLCE (coding and wording) and Verb underlined Knowledge (K) 2-E1.01 Identify the opportunity cost involved in a consumer decision. (Knowledge) Understand (U) DO: Demonstration of Learning (DOL) The student will identify the opportunity cost associated with something that they have bought by writing a short story ab The basic economic problem that arises because people have unlimited wants but resources are limited out it. Vocabulary I Can

Students will know that there are choices involved in purchasing goods and services. When we purchase one item we are giving up the potential gains of an alternative option. For example, if you choose to buy a new toy at the store with the $10 you got for your birthday, you will not be able to go to the movies with that $10. Students will know that scarcity prevents us from having everything that we want. Scarcity within an economic context refers to limited resources not a lack of money. The resources are the inputs of production such as land, labor, and capital. People must make choices between different items because the resources necessary to fulfill their wants are limited.

Students will understand that there is a cost involved in a consumer decision.

Opportunity cost Consumer Scarcity

I can describe the cost involved in buying things.

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These decisions are made by giving up (trading off) one want to satisfy another. Students will know that they are consumers because they purchase goods and services (e.g. Toys, food, haircut, etc.).
Vocabulary: 1. Opportunity cost- the loss of potential gain from other alternatives when one alternative is chosen 1. Consumer- a person who purchases goods and services for personal use 2. Scarcity- the basic economic problem that arises because people have unlimited wants but resources are limited GLCE (coding and wording) and Verb underlined Knowledge (K)

2-E1.0.2 Identify businesses in the local community. (Knowledge) Understand (U) DO: Demonstration of Learning (DOL) The student will identify businesses in their local community by drawing a map of their local community labeling several businesses that are present. Page 5 Vocabulary I Can

Students will know that there are different types of businesses in the local community (e.g. grocery store, restaurant, etc.). Students will know that businesses produce

Students will understand that there are businesses in the local community.

Businesses Local community

I can name businesses in my community.

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goods/services to meet the wants and needs of consumers. Students will know that businesses provide jobs in the community. Students will know what that there are different kinds of businesses present in their community. Students will know that the local community is the neighborhood, town, or city in which they live. Vocabulary: Business- a person, partnership, or corporation engaged in commerce, manufacturing, or a service; profit-seeking enterprise or concern. 1. Community (local)- a group of people living in the same place (city, town, or neighborhood) or having a particular characteristic in common GLCE (coding and wording) and Verb underlined Knowledge (K) 2-E1.0.3 Describe how businesses in the local community meet economic wants of consumers. (Knowledge) Understand (U) DO: Demonstration of Learning (DOL) Vocabulary I Can

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Students will know that consumers have wants and businesses fulfill those wants. These wants/needs may include things such as food, health care, clothing, or electronics. Students will know that different businesses meet different needs and wants of customers. Businesses such as McDonalds meet the want for food while a business such as a Dentist office meet the need for clean teeth. Students will know that seasons may affect the goods and services offered by local businesses (e.g. coats in winter, fruit in summer, etc.). Students will know that the economic wants of consumers will change as new products come out and businesses will adapt to these new wants. Vocabulary: Business- a person, partnership, or corporation engaged in commerce, Students will understand that businesses meet the needs of consumers. Students will describe how a business in their community meets their wants by writing a paragraph about how a business has met their wants. Businesses Local community Economic wants Consumers I can describe how businesses meet my needs.

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manufacturing, or a service; profit-seeking enterprise or concern Community (local)- a group of people living in the same place (city, town, or neighborhood) or having a particular characteristic in common Economic wants- the human motives that induce the business and economic activities which produce the desired goods and services, or the means to acquire them 1. Consumers- a person who purchases goods and services for personal use GLCE (coding and wording) and Verb underlined Knowledge (K) 2-E1.0.4 Describe the natural, human, and capital resources needed for production of a good or service in a community. (Knowledge) Understand (U) DO: Vocabulary I Can Demonstration of Learning (DOL) Students will understand that different resources are needed for production of goods and services. Students will describe the natural, human, and capital resources used to produce one of the items/goods present in the classroom. Students will fill out a worksheet listing at least 3 examples of each kind of Page 8 Natural resources Human resources Capital resources Production Good Service Community I can name the types of resources needed to make goods.

Students will know that a good is an object that can be sold, bartered, or purchased and a service is an action performed by a person or business that can be sold, bartered, or purchased. Students know that a shirt is an

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example of a good and a haircut is an example of a service. Students will know that natural resources are materials or substances such as minerals, trees, or water that occur in nature and can be used for economic gain. Students will know that scarcity of natural resources can affect the production of goods and services. Students will know that human resources are the people that help to produce goods or who administer services. Factory workers who assemble parts on an assembly line and doctors are both examples of human resources. Students will know that labor is work done by people and is necessary for production. Students will know that capital resources are goods produced and used to make other goods and services. This includes tools, equipment, buildings, and machinery. Vocabulary: resource used for production of that good.

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03-Bliss-Unit Plan 1. Natural resourcesmaterials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain Human resourcespeople, especially the personnel employed by a given company, institution, or the like Capital resources- goods produced and used to make other goods and services (tools, equipment, buildings, and machinery) 1. Production- the action of making or manufacturing from components or raw materials, or the process of being so manufactured 2. Good- any material object that can be sold, bartered, or purchased 3. Service- actions performed by a person, institution, company, or organization which are sold, bartered, or purchased Community- a group of people living in the same place (city, town, or neighborhood) or having a particular Page 10

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characteristic in common

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Vocabulary Lesson
Lessons: How will we take them where they need to go? (Step-by-Step Plan) Instructional Strategies/Social Constructs: How will they work? (AND what will YOU do?) Marzanos Six Steps for Effective Vocabulary Instruction Resources Needed: What materials and resources will they need? (Page #s read, graphic organizers, books, posters, realia, etc)

Step One
The teacher will start by introducing the students to each new vocabulary word by providing a description, explanation, or example of the new term, using the vocabulary script (See Attachment A). The teacher will use stories, pictures, realia, or other visuals to help students visualize the new vocabulary term. Students should participate in a group discussion, offering thoughts and examples of when or where they may have come into contact with this word. Have students face their partner and each give a definition of what they think the word means, based on the clues the teacher has given through pictures, realia, stories, etc. The teacher will then give the students a clear, concise definition of the word and write it on the board or a poster. Students will write the definition given by the teacher on their vocabulary worksheet (See Attachment B) in the appropriate box.

Vocabulary Script (See Attachment A) Pictures (See Attachment F) Realia Books Short Video Clip White Board/ Poster Markers Writing utensil Vocabulary Worksheet (See Attachment B)

Step Two
Following the discussion in step one, students write a definition for the vocabulary term on their worksheet (See Attachment B) using their own words. It is important to emphasize that
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Vocabulary Worksheet (See Attachment B) Writing Utensil

03-Bliss-Unit Plan students use their own words instead of simply rewording the definition the teacher gave. Their definition should be in their own words and something that they understand. Monitor for any misunderstandings and be sure to address them as a class to make sure others are not making the same mistake. Have students discuss their definition with a partner and discuss the differences/ similarities in their definitions.

Step Three
Students will use the discussions and knowledge gained from steps one and two to create a picture, symbol, or graphic representation of the term and place it on their vocabulary worksheet (See Attachment B). Students who are not familiar with this may need modeling.

Vocabulary Worksheet (See Attachment B) Writing Utensil Markers/Crayons

Step Four
Students will engage in an activity that helps them add to their knowledge of the terms. Give each student a blank piece of paper. Students can choose to do a bubble map (See Attachment C) with one word or construct a Venn Diagram (See Attachment D) comparing and contrasting two of their new terms. During this step students may add any new information they gained to their Vocabulary Worksheet (See Attachment B).

Vocabulary Worksheet (See Attachment B) Blank piece of paper Writing utensil Bubble map format (See Attachment C) Venn Diagram format (See Attachment D)

Step Five
Students at this point should examine their vocabulary terms and make changes, additions, or erase things. Students can work with a partner or get in small groups of 3-4 students. Students compare their definitions and pictures and discuss the similarities and differences. Students should polish their now
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Vocabulary Worksheet (See Attachment B) Writing Utensil

03-Bliss-Unit Plan complete vocabulary worksheet making sure all boxes are filled in and accurate. If students disagree on a definition of a vocabulary term they should consult the teacher and clarify the differences. During this step the teacher should listen for any misunderstandings and clear them up before moving on further with the vocab terms.

Step Six
The final step is to involve students in games that allow them to play with the terms. Students will play a round of Pictionary to solidify student understanding. Students will be divided into two teams. The first team will have one member pick one of the slips of paper, containing the vocabulary words, (See Attachment E) from the bowl. That student will then have 30 seconds to draw and have their team mates guess the correct vocabulary term. If they guess it within the time frame they are awarded 10 points. The other team gets a turn and the same rules apply. The game continues until all of the words have been drawn.

Whiteboard/Poster paper Markers Vocabulary words cut (See Attachment E) Bowl Timer

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Attachment A
Teacher Script Consumers: Teacher Talk-How many of you have ever bought something? Was it food? A game? A new pair of shoes? How about a gift for someone else? (Students may freely call out responses and examples) Well I have brought in a few things that I have recently purchased, would you like to see them? Alright in my bag here I have: A box of cereal, a shoebox with my new pair of shoes, some pencils, a few toys, a gift card for my friends birthday, a receipt from the hair salon, and a package of cookies (Have all items passed around the room). Now how many of you have things just like these at your house? Did you buy them or did someone else, maybe mom, dad, grandma, grandpa? There is a special name for this person, does anyone have a guess? (Call on a few students to make guesses). We call a person that purchases goods and services for their own use a consumer. Has anyone ever heard that fancy word before? (Free response) No? Well lets say it together a few times consumer (class participates). Turn and discuss with your partner what a consumer is in your own words. Production: Teacher Talk-(Play Mr. Rogers How People Make Things video-they can be found at http://pbskids.org/rogers/videos/index.html) Now in that short video what did you see? (Students respond with things being made, machines, people, etc.). Have any of you ever seen something similar to that before? (Look for a few hands) Has anyone ever visited somewhere similar to what we saw in the video? (Call on a few students) Does anyones parents work somewhere like this? (Look for hands) Great! What you just saw in that video was a factory where things are being made. Now what do you we call the process of making something? Has anyone ever heard of the word production before? (Look for a few hands) Where did you hear that word? (Call on a few students) Great! Those are some excellent ideas! Copy down the definition I have written on the board to your vocabulary worksheet (Give some work time) Now once again turn to your partner and discuss what you think it means and then write a definition for the word in your own words. Natural Resources: Teacher Talk-(Show pictures of natural resources-See Attachment F) What do we see in these pictures? (Call on students or free response) What do all of these pictures have in common? Does anyone see a theme with these pictures? (Free response) If we are talking about economics, how do you think these pictures would tie in? (call on a few students) If I said that these things are very important for everything around us, like that paper over there, the shirt you have one, etc. how do you think that would apply to economics? (call on a few students) All of these things are natural resources. They are resources that we find in nature and are used in production for goods and services. Can someone tell me what we might use this natural

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03-Bliss-Unit Plan resource of trees or wood for? (free response) How about water? (free response) You guys have got the idea, now its your turn. Turn and discuss with your partner and when you think you have the hang of it write your own definition. Human Resources: Teacher talk- (Read The Three Little Pigs) Now did you all know that this story about the three little pigs, is actually a story all about economics? Pretty cool, right? We already talked about natural resources, did you guys see any of those in the story? Who can give me a couple of examples? (Call of a few students) Right! They had the sticks, the bricks, the hay, etc. Now what about the three little pigs? Did they do anything important in the story? (free response) Yes they did something very important, they built the houses! Do you think we would consider them a type of resource? (free response) Why or why not? (call on a few students who both agree and disagree) But if we did not have the pigs, how would the house get built? (free response) The three little pigs are a very important resource in the story, they are what we call human resources. I know that seems kind of silly because they are not actually humans but they do the work of building the houses. Human resources are the people that work and help in the production of goods and services. Capital Resources: Teacher talk-(get toolbox) Now here I have my very own toolbox. What do you think I have inside? (class says tools!) Of course I have tools! What do people use tools for? (call on students to give examples) What kinds of different tools are there? (free response) Well lets take a look in my toolbox and see what we have. I have a hammer, a screwdriver, a level, a tape measure, and a wrench. What do you think that I could create with these tools? (free response) I could build a lot of things couldnt I? Well these tools are called capital resources. They are tools that are made so that they can be used to make other goods. The main purpose of capital resources are that they are made to help make other things.

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Attachment B Definition My Definition

Picture

Examples

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Attachment C

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Attachment D

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Attachment E

Opportunity Cost

Consumer

Businesses

Local Community

Scarcity

Economic Wants

Natural Resources

Human Resources

Capital Resources

Production

Good

Service

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