teaching economics what do they really need to know?

Teaching Economics

What Do They Really Need to Know?

Teach About

Scarcity (goods & services)Resources (natural, human and capital)Costs and Benefits (saving & spending)

Goods & Services

Tangible things --Goods Shelter, food, clothing, cars, book,

games

Intangible things --Services Entertainment, police protection,

medical care, education, leisure time

Making choices-- consumer

Natural, Human & Capital

Make the goods and services---producers3 types of resources

Natural– nature & landHuman –jobs people perform to meet the needs (dentists, barbers, policemen, farmers..etc..)Capital – goods made for others to use to make goods…such as tractors for farmers, trains and trucks that haul the goods, machines in factories..etc..

Cost & Benefits

How much does it cost?What benefit will I get by buying it? Use practical day to day experiences Teach about money..banks—saving &

spending; advertisement’s effect on spending

Advertising

Exposure to products Main sources

TVRadioInternet

Activities should focus on ways to avoid falling into the “Buy ME ..You have to Have Me”

(propaganda)

Money

Banks, Earning Saving Spending

Activities should focus on personal finance..

Instructional ToolsLiterature Alexander, Who Use to Be Rich Last

Sunday”

Skits/PlaysSimulations “Decisions, Decisions”

“Video” GamesSim CityLemonade StandZoo Tycoon

Resourceshttp://ecedweb.unomaha.edu/home.htmhttp://tqjunior.thinkquest.org/3901http://www.practicalmoneyskills.com/foreducators/http://www.kidsbank.com/index_2.asphttp://www.coolmath-games.com/lemonade/index.htmlhttp://www.socialstudiesforkids.com/subjects/economicsgames.htmhttp://www.kidsturncentral.com/links/moneylinks.htmhttp://www2.scholastic.com/browse/collection.jsp?id=455