Economic Activities for the Classroom

Economics centers around money, its value and its uses, which are lessons every student should know.

Economics is learned in elementary, middle and high school classrooms around the world. It teaches the value of money, how it is used and the ins and outs of manufacturing and purchasing goods and services. Although at different levels, all students should know about economic principles and how to apply them. Use creative and relevant activities for your students to learn about economics.

Kindergarten through Grade 2

Explain to your elementary school students the definitions, differences and similarities between consumers and producers. As a class, discuss the ways the children behave as consumers, such as using toothpaste, buying new shoes, watching cable TV and eating pizza; and how the students behave as producers, by helping to weed the flower bed, feeding the family pet and cleaning up the bathroom. Create "I promise to..." consumer and producer coupons to share with the family, in which students promise to do chores around the house and parents promise to give them something in exchange to reinforce the economics lesson.

Grades 3 through 5

Children often visit grocery stores with parents. Instruct the students, at least one week in advance, to find the prices of certain listed items at various local stores. The students will compare prices of the same exact item from various stores to find the differences in cost. Discuss with the class theories about why the prices are different and whether prices are higher or lower in city areas compared with more rural areas, thus showing differences in regional economies.

Middle School

Online auction sites are widely used across the world by people of all ages. Many adults have made businesses within the auction sites by purchasing clearance items and selling them online auction-style. Middle school students can learn economic concepts by researching and presenting information about starting an auction business. "What type of products will sell?" "What are the fees to buy and sell on online auction sites?" and "What is the net profit range for using Internet auctions to sell items?" are just a few questions to be answered by this economics activity.

High School

Many high school students either have or soon will have a driver's license. Incorporating a personal interest of some high school students into the activity for your economics class will encourage participation and financial awareness about purchasing, owning and maintaining a vehicle. Research current vehicle prices, gasoline prices and maintenance costs via the Internet and local newspaper classified ads, or by visiting a local car dealership. Instruct the students to compare and contrast the statistics they gather and compute the numbers to find a typical monthly cost for vehicle ownership.

References

• EconEdLink: We Are Consumers and Producers
• Cool School Challenge: Car Economics Activity -- Teacher Guide