Markets 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
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
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
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
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