1. A LESSON IN ECONOMICS 2 nd Grade

2. Producers & Consumers Students will pretend that they are living in Colonial Virginia and they will choose from 1 of 5 typical trades in Colonial Williamsburg. Students will play the role of the trade (producer) they choose. Included will be a brief description of each trade and a short list of weekly needs and possible wants. Students will differentiate between needs and wants and make choices and to barter for goods and services.

3. SOL covered Economics 2.8The student will distinguish between the use of barter and money in the exchange for goods and services. 2.9The student will explain that scarcity (limited resources) requires people to make choices about producing and consuming goods and services.

4. Review of Terms Briefly review the following terms with students: Barter Needs v. Wants Choices Trades Goods/Services

5. Students will choose from 1 of 5 typical trades in Colonial Williamsburg: 1. Farmer 2. Shoemaker 3. Blacksmith 4. Tailor 5. Carpenter

6. Assigning Trades Divide students into five groups (for the five different trades). Give each group a description of their trade. Students will discuss their scenarios and make choices. Students share their scenario and tell the class what choices they made and why.

7. Descriptions and Scenarios

8. Farmer Farmers did not make any money and used the bartering system only. Students will have to trade to get their needs and wants.

9. Farmers You harvest about 40 bushels of corn per week. You have plenty of food to last for weeks but the roof on your barn has a hole. It needs to be fixed as soon as possible. Your daughter would like a new dress for her birthday. But if your corn gets wet then you will have nothing to eat. What choices will you make?

10. Shoemaker The shoemaker was a very important trade in Colonial times. Shoemaking was plentiful and very competitive. The shoemakers were plentiful. Shoemakers often traveled from town to town, receiving room and board for their services. Note: A common shoe was equal to 1 day’s wage.

11. Shoemaker You have made a dozen shoes for the day and your shoe supplies are low. Also, you do not have enough food in your pantry and one of the two shirts you own is worn, and in shreds. What do you do to make certain that you have enough food and clothing for the rest of the week?

12. Blacksmith Blacksmiths made tools for farmers, millers, saddle makers and many other tradesmen.

13. Blacksmith You have made ten farm tools this week and repaired two tractors. Your pantry is low on wheat, sugar and vegetables. Your best work shoes have a hole. And one of the steps on your porch is loose. What choice do you make?

14. Tailor Tailors made clothes for men and women, regardless of social status. Everyone was a potential customer. Tailors did not buy or sell fabric so their customers had to bring their own.

15. Tailor You have made two coats this week. You have an order for one dress. The customer is supplying her own fabric. But you will need to buy fabric for a pair of pants. Your sewing machine needs to be fixed and you need to buy needles. You want to buy some lace from the general store? What choices will you make?

16. Carpenter The main business of the Colonial carpenter was to cut and join lumber into homes and shops. Carpenters were hired to do repair work. They often traded with the blacksmiths to get their tools.

17. Carpenter You have been working all week making repairs and your pantry is filled with food. But you need new tools if you are going to work next week. Your saw and hammer are worn out and you only have a few nails left. What choices will you make?

18. Relevant Websites http://www.colonialwilliamsburg.org/Almanack/life/trades/tradehdr.cfm