Growing up I did not have much experience with economics.The only memory I have of working with economics in elementary school was in the 4th grade. My teacher had us buy stocks and invest in a company, but to be honest I don't think I ever truly got the point of why were learning about this or how it related to economics. After that I don't really remember spending anytime on economics until my senior year of hight school. For history of senior year, we were required to take a semester of economics. This class gave me a basic understanding of what economics is. I learned the difference between macro and micro, supply and demand, and the stock market. My teacher has us complete a simulation of the stock market throughout the semester. We started off by having a certain amount of money and then getting to choose where we wanted to invest our money. Throughout the semester we were allowed to sell and buy new stocks. The goal was to end up with the most amount of money when the class ended. Even though I had gained a basic understanding of economics, I still wasn't aware of the importance of economics in the classroom especially in younger grades.
I was assigned the task of researching an area of economics for a class project. I looked up what scarcity and desicion making were. I had a basic understanding of these two areas prior to my research, but I actually learned a lot. I learned how this is important for children to actually understand what economics is. This is general topic that will help students understand what economics.
After hearing all of my peers presentation on economics and how they would incorporate it into the classroom, I learned how truly important it is that students are learning about economics. This is a skill that students will using for the rest of their life and it is beneficial that they start early. I found very engaging lesson plan that I would love to use with my students. This lesson was a literacy/social studies economic lesson. The students would be reading a book about a cat that had to learn about credit cards, scarcity and demand. I liked this lesson because it was a fun and easy way for students to learn about economics. This lesson was also great because it incorporated literacy into a social studies lesson. With teachers and having tight schedules, it is essential that teachers find ways to incorporate different subjects together.
I found a great video on how an elementary teacher incorporated economics into their classroom. I think this is such a great idea because the students are not just being lectured, but instead learning by doing. Enjoy the video !!!
William Walsted (1998), stated that "E
ven young children are capable of learning basic economic concepts that help them understand their economic world. In the secondary years, that initial foundation can be expanded to include instruction in a broader set of economic ideas and concepts. This additional education gives students greater capacity to understand more complex personal or national economic issues.". This proves that children of any age can start learning economics and it is also important that children learn the basic components of economics. He also stated that "The development of basic economic literacy is an important goal for a democratic society that relies heavily on informed citizenry and personal economic decision-making. To achieve that goal will require that significant gaps in the economic education of youth be closed by giving economics a more central place in the school curriculum." This once again proves how essential it is that children of all ages of receiving economic education.
References
Walstad, William B. (ed.). (1994). An International Perspective on Economic Education. Boston: Kluwer Academic Publishers.
After hearing all of my peers presentation on economics and how they would incorporate it into the classroom, I learned how truly important it is that students are learning about economics. This is a skill that students will using for the rest of their life and it is beneficial that they start early. I found very engaging lesson plan that I would love to use with my students. This lesson was a literacy/social studies economic lesson. The students would be reading a book about a cat that had to learn about credit cards, scarcity and demand. I liked this lesson because it was a fun and easy way for students to learn about economics. This lesson was also great because it incorporated literacy into a social studies lesson. With teachers and having tight schedules, it is essential that teachers find ways to incorporate different subjects together.
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