Economics Unit for Upper Elementary Students

Love Learning
Grade Levels
4th - 7th, Homeschool
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  • Google Apps™
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This Economics Unit is the perfect addition to your social studies classroom! It includes fun economics activities that teach about personal finance and financial literacy.

  • I use this unit to teach my fifth grade students. Since this can be a pretty complex topic, I have made it very student friendly. The lessons can be simplified for younger students or enhanced for older students.

This File Includes:

  1. Unit Plan Suggestions for Print and Digital Versions
  2. PowerPoint Lesson and Guided Notes
  3. Five Interactive Google Slides™ Lessons for Distance Learning
  4. Career Exploration Activity (print and digital)
  5. Three Economics Vocabulary Pages (print and digital)
  6. Economics Crossword Puzzle
  7. Economics Centers (print and digital)
  8. Economics Unit Test (print and digital)

Topics Included:

Lesson 1:

Basic Economic Concepts - specialization, capital goods, resources, division of labor

Lesson 2:

The function of households and private businesses in our economy

Lesson 3:

The function of the banking and the government sectors in our economy

Lesson 4:

Consumers, Producers, Supply, and Demand

Lesson 5:

A personal budget and how to spend money wisely

Economics Vocabulary:

1. Spending and Saving

2. Opportunity Cost

3. Comparison Shopping

4. Consumers and Businesses (employers, employees, entrepreneurs)

5. Productive Capacity

6. Resources

7. Technology

8. Capital Goods

9. Specialization

10. Division of Labor

11. Assembly Lines (includes "I Love Lucy" chocolate factory clip)

12. Supply, Demand, and Scarcity

13. Producers and Consumers

14. Competition

15. Taxes

16. The Purpose of Banks (savings, checking accounts, interest, loans)

17. The Four Sectors of our Economy

18. Fixed Expenses vs. Variable Expenses


⭐️⭐️⭐️⭐️⭐️ Mggs88 said, “This was a fantastic resource! Very well made and was exactly what I was looking for! The students were very engaged! Thank you so much for all of your hard work! Definitely happy with my purchase and plan to use it again next year!"

⭐️⭐️⭐️⭐️⭐️ Rachel M. said, "I am NEVER disappointed with LoveLearning! It is so easy to follow and it has such good information! I used it for 7th grade, and it worked out soo well. So happy with this product. "

⭐️⭐️⭐️⭐️⭐️ Rebecca R. said, "I am so excited to use this to help introduce my classroom economy! This is the perfect way to integrate learning and implement my classroom management system. Thank you so much for all the different aspects of this product. You have thought of everything. The guided notes are a wonderful addition to help students learn note taking as well. "


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Total Pages
Answer Key
Teaching Duration
2 Weeks
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