This twenty-two page packet includes lots of lessons and activities for second grade teachers to use to teach the concept of economics. It correlates with the following common core social studies' standards:
2.E.1 Understand basic economic concepts
2.E.1.1 Give examples of ways in which businesses in the community meet the needs and wants of consumers.
2.E.1.2 Explain the roles and impact producers and consumers have on the economy.
2.E.1.3 Summarize the concept of supply and demand.
2.E.1.4 Explain why people and countries around the world trade for goods and services.
2.E.1.5 Explain how money is used for saving, spending, borrowing and giving.
2.E.1.6 Summarize the role of financial institutions relative to savings.
What is Economics? (Brainstorming Activity)
Our Economy (Original Reading Passage and Comprehension Questions)
Rate the Economy! (Read scenarios and draw a smiley face or sad face to show if the economy is doing well or not doing well.)
Needs and Wants (Labeling Activity)
Needs and Wants (How do needs and wants connect with the economy?)
Producers and Consumers (Labeling Activity)
Producers and Consumers (Matching producers to appropriate consumers)
Supply and Demand (Read scenarios and write most probably outcomes.)
Supply and Demand (Answer critical thinking questions about supply and demand.)
Supply and Demand (How does demand determine supply?)
Goods and Services (Labeling Activity)
Goods and Services (Venn Diagram Activity - Evaluating businesses in your own community)
Trading With Goods and Services (Read scenarios and write possible outcomes.)
Trading Goods and Services (Read about US imports and exports, and color a map showing countries that trade with the US.)
Saving, Spending, Borrowing, and Giving (Brainstorming Activity)
Saving, Spending, Borrowing, and Giving (Students are given $20 and tasks to complete that involve saving, spending, borrowing, and giving. What is the end result?)
Banks (What are banks? Writing a Check Activity)
Banks (Links to Videos and Games)
Culminating Activity (Write three things you learned on a piggy bank, and decorate the bank.)
HOTS (Higher Order Thinking Skills with Economics)
As a second grade teacher, I know it is difficult to get kids at such a young age to truly understand the role that economics plays in our society. By creating this packet, I hope this task becomes easier for you! Everything is ready to be printed and used, with no other teacher preparation! Enjoy, and thanks bunches! :) ~Mindi
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