Collection
Economics in Elementary Social Studies

The elementary curriculum provides many opportunities for teaching economic concepts. The resources selected below teach elementary students about money as a medium of exchange, the role of government in providing goods and services and how economic issues affect history.

Lesson

Teach Specialization using Sloth and Squirrel in a Pickle

In this economics lesson, students participate in hands-on activities that reinforces the concepts of specialists/entrepreneurs, workers, capital resources, and products. 
Key Concepts: Factors of Production, Productive Resources, Productive Resources…

No Extra Room on the Mayflower

The students will explore the ideas of scarcity and choices by exploring a virtual model of the Mayflower. They will...
Key Concepts: Allocation, Allocation, Allocation…

Taxation without Representation?

This lesson will take students through the series of tax acts that were enacted by the British government and disputed...
Key Concepts: Balance of Payments, Crowding Out, Debt…

Ben & Jerry's Flavor Graveyard

Ben & Jerry are producers of ice cream. Even if they produce ice cream for the entire nation, they still...
Key Concepts: Allocation, Allocation, Allocation…

Pennies Make Cents

Students will review the history of trade before money and will investigate the history of money. Students will locate information...

I Have No Money, Would You Take Wampum?

Through the use of folk tales, history, and the students' own experiences, students will recognize the inter-relatedness of goods, services,...
Key Concepts: Globalization, Goods and Services, International Trade…

Hey, Mom! What's for Breakfast?

Students working in cooperative groups will discuss food items they consume for breakfast, investigate elements of foreign culture, particularly food,...
Key Concepts: Goods and Services

Activity

Content Partner

PBS-NOVA Financial Lab

Managing money is hard! Even when you know what you should do, it can be hard to actually do it....
Key Concepts: Budgeting/Money Managment

Comparative Advantage Activity

This interactive activity illustrates the concept of comparative advantage in three hypothetical situations: first analyzing two workers in a pizza...

Video

Scarcity Video and Quiz

In this economics video, students will learn about scarcity and play a Kahoot! game.
Key Concepts: Allocation, Allocation, Allocation…

Opportunity Cost Video and Quiz

In this economics video, students will learn about opportunity cost and play a Kahoot! game.
Key Concepts: Cost-Benefit Analysis, Marginal Analysis

Money Video and Quiz

This video teaches the concept of Money. Money is anything that is used to buy and sell goods and services....