Markets and Basic Economics

Unit Lessons

PYP Theme: How We Organize Ourselves

BiblioGarden PYP Librarian Beanstalk LogoMarkets and Basic Economics: Unit Overview

Goods, services, producers, consumers, marketplaces, competition, money, trading, profit and loss – there is hardly a unit more exciting for young entrepreneurs. For some, this unit is their first attempt at making and selling a product. For others, it may be their first time to consider how the good and services they consume come to them and their families. I’ve built this integration unit around simple concepts, three activities, and two pieces of literature. This is really a “hands-on” unit, so get busy and help your students learn about world markets from a variety of sources with challenging activities and impressive work samples. If you complete all the lessons, your students will travel to world markets, grow a money tree, and run a bookshop!

Markets and Basic Economics #1: Markets Around the World

Lesson Overview: In this Unit of Inquiry, students learn about markets, business, and simple economics.  This is a “tuning-in” lesson that allows the students to observe several buyers, sellers, and products.  Take a virtual field trip and visit markets around the world!  Your students will identify basic economic players in… Read more

Betty Turpin

Markets and Basic Economics #2: The Have a Good Day Cafe, by Frances and Ginger Park

Lesson Overview: This is a simple and easy lesson that uses a picture book to make sure that the students understand the concepts of product variety, sales, competition, and advertising.  There is also a multicultural Korean theme that may help some of your EAL kids feel at home as they… Read more

Betty Turpin

Markets and Basic Economics #3: Producers and Consumers in the Library

Lesson Overview: In this lesson, students use what they have learned in their unit on economics to analyze the school library.  Working together, the class considers what a school library consumes and what it produces.  Do the services provided justify the consumption?  This is a no-prep, easy-to-deliver lesson that is… Read more

Betty Turpin

Markets and Basic Economics #4: The Money Tree, by Sarah Stewart and David Small

Lesson Overview: This lesson invites students to reflect on the value of money and its role in our lives.  In the markets and economics unit, students typically get very excited about making and selling goods and services.  They learn about running simple businesses and usually have a chance to sell… Read more

Betty Turpin

Markets and Basic Economics #5: Student Bookshop

Lesson Overview: This lesson assumes that your students will be holding a market or souk as part of their UoI or as their summative assessment.  After studying basic economics and markets, many teachers plan a celebration of learning that is also a shopping extravaganza for the school community.  In Germany,… Read more

Betty Turpin