1. Barbara Phipps Shala London Sherie Surbaugh Nadia Kardash

2. Why?

3. Economics and Personal Finance
Literacy
Mathematics
Social Studies

4. Common Core Connections
Supports cross-content literacy
Provides real-world applications
Develops habits of mind
Relevance to real world
Stories, books, current economic events
Computations, graphs, interest and tax rates calculations
Habits of mind
Economic decision-making models
Cost-benefit Analysis

5. Children’s Literature for Understanding Economics

6. Grades K & 1

7. ECONOMICS/PERSONAL FINANCE
Grade K
ECONOMICS/PERSONAL FINANCE
MATHEMATICS
Goods and services
Scarcity
Opportunity cost
Saving
Understanding addition as putting together and understanding subtraction as taking apart

8. ECONOMICS/PERSONAL FINANCE
Grade 1
ECONOMICS/PERSONAL FINANCE
MATHEMATICS
Goods and services
Scarcity
Choices
Opportunity cost
Money vs. barter
Saving vs. spending
Income
Consumers and Producers
Solving problems involving addition and subtraction
Understanding place value

9. Follow the Money! Saving Decision-making Money
Adding and subtracting and more (see link)

10. Follow the Money!

11. Monster Musical Chairs
Economic want
Good
Scarcity
Subtraction by one

12. The Penny Pot Goods Services Choice Opportunity cost Scarcity
Counting coins

13. You Can’t Buy a Dinosaur for a Dime
Income
Consumer
Choices
Saving & Spending
Opportunity cost
Adding and subtracting currency

14. Grades
2 & 3

15. ECONOMICS/PERSONAL FINANCE
Grade 2
ECONOMICS/PERSONAL FINANCE
MATHEMATICS
Goods and services
Economic wants
Producers and consumers
Opportunity cost
Money vs. barter
Saving vs. spending
Budgeting
Income
Decision-making
Solving problems involving addition and subtraction
Understanding place value

16. ECONOMICS/PERSONAL FINANCE
Grade 3
ECONOMICS/PERSONAL FINANCE
MATHEMATICS
Scarcity
Markets
Buyers and sellers
Credit and borrowing
Public goods and services
Spending/saving
Borrowing/lending
Income
Understanding fractions
Solving problems involving measurement and estimation of intervals of time

17. Little Nino’s Pizzeria
Goods and services
Entrepreneurship
Revenue, expenses and profit
“Find the profit” math problems (see link)

18. My Rows and Piles of Coins
Saving
Capital resource
Market
Opportunity cost
Adding & subtracting

19. Uncle Jed’s Barbershop
Human and capital resources
Specialization
Saving
Opportunity cost
Estimation costs and inflation

20. A Chair for My Mother Human resources Savings Scarcity
Opportunity cost
Budget development

21. Lucky Beans Productive resources Human capital Specialization Income
Estimation
Measurement

22. Grades
4 & 5

23. ECONOMICS/PERSONAL FINANCE
Grade 4
ECONOMICS/PERSONAL FINANCE
MATHEMATICS
Opportunity cost
Productive resources
Production and consumption
Specialization
Entrepreneur
Economic systems, market economy
Human capital
Cost-benefit analysis
Four operations w/ whole #’s
Factors and multiples
Generate/analyze patterns
Multi-digit whole numbers
Operations with fractions
Classify shapes
Draw/identify lines and angles

24. ECONOMICS/PERSONAL FINANCE
Grade 5
MATHEMATICS
Numerical expressions
Analyze patterns/relationships
Place value system
Perform multi-digit operations
Add/subtract fractions
Multiply/divide fractions
Measurement system
Volume
Graph points on the coordinate plane to solve real-world and mathematical problems
ECONOMICS/PERSONAL FINANCE
Scarcity
Opportunity cost
Productivity and specialization
Supply and demand
Changes supply/demand
Supply/demand for labor
Banking and interest
Taxes
Cost-benefit analysis

25. The Bobbin Girl Productivity Cost of production Supply and demand
Costs/benefits
Compute reduction in pay percentages

26. Isabel’s Car Wash Incentives Entrepreneurship Productive resources
Decision-making
Investing
Budgeting
Percentages

28. Rock, Brock and the Savings Shock
Spending
Interest
Percents
Graphing

29. Sheila Bair (on right)

31. Mathematics & Economics
12 standards-based lessons Grades 3-5 Council for Economic Education 1

32. Grade 5 DOUGHTNUT DREAMING LESSON OVERVIEW
Students use a class survey to collect data about the quantity demanded of doughnuts at different prices.
Students use data to construct a line graph.
Students discuss the law of demand and apply it to the graph to understand that at lower prices, the students will purchase more doughnuts.

33. ECONOMICS/PERSONAL FINANCE
Grade 5
MATHEMATICS
Numerical expressions
Analyze patterns/relationships
Place value system
Perform multi-digit operations
Add/subtract fractions
Multiply/divide fractions
Measurement system
Volume
Graph points on the coordinate plane to solve real-world and mathematical problems
ECONOMICS/PERSONAL FINANCE
Scarcity
Opportunity cost
Productivity and specialization
Supply and demand
Changes supply/demand
Supply/demand for labor
Banking and interest
Taxes
Cost-benefit analysis

34. Literature Connections

35. Procedure
Walk into the classroom holding a newspaper and eating a doughnut. Ask the students if they enjoy eating doughnuts.

36. Procedure
Read the book The Donut Chef and discuss favorite flavors of doughnuts and record on the board where they usually purchase them. Ask if they know how often they buy doughnuts, and discuss other ideas about doughnuts to interest them in the topic.

37. Procedure
Ask the students to think about the price of the doughnuts. Tell them the owners of a new shop don’t know what to charge. Ask them if they are willing to help the owners. Have the students complete a demand schedule.

38. VISUAL: MY DEMAND SCHEDULE FOR DAYDREAM DOUGHNUTS
Directions: Pretend you receive a weekly $10 allowance. Although you might want to spend all $10 on doughnuts, remember that your $10 allowance must pay for all of your expenses during the week, such as soft drinks, ice cream, books, toys, movies, video games and donations. Record the number of doughnuts you would be willing and able to buy at each price during one week, using one week’s allowance. Remember, if you are willing and able to buy a number of doughnuts at a certain price, you should be willing and able to buy at least this same number of doughnuts — and probably more — at any lower price.
Price per Doughnut
Able to Buy
Willing to Buy
$1.50
$1.25
$1.00
$0.75
$0.50
$0.25

39. Procedure
Have the students work through the calculations. Compile the data to obtain a class demand schedule. Explain Demand. Construct a linear graph.

40. VISUAL: CLASS DEMAND SCHEDULE FOR DOUGHNUTS
Price
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
Student 1
Student 2
Student 3
Student 4
Student 5
Student 6
Student 7
Student 8
Student 9

41. Demand: The schedule of the quantity of a good or service that people are willing and able to buy at different prices during a given time period. Law of demand: People are willing and able to buy less of a good or service at a higher price and more of a good or service at a lower price, when income and prices of other items remain the same.

42. Title: Demand for DoughnutsP
$1.50
$1.25
$1.00
$.75
$.50
$.25
Demand Q
Title: Demand for Doughnuts

43. An invitation… Northeast Kansas Teachers: Councils or Centers:
Money, Math & Make-Believe Teacher Summit, Summer 2014, Federal Reserve Bank of Kansas City
Lending Library and Consultations
District In-services
Councils or Centers:
Host your own training–contact us for sample agendas, handouts, etc.
Barbara Phipps –
Shala London –
Sherie Surbaugh –
Nadia Kardash –