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Economically. Are You Smarter Than a Fifth Grader? Teaching the Elementary Economics Georgia Performance Standards. ^. Georgia Council On Economic Education w w w . g c e e . o r g. Our essential question…. What is economics ?. Economics is…. Our enduring understanding….

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Are You Smarter

Than a Fifth Grader?

Teaching the Elementary Economics

Georgia Performance Standards


Georgia Council On Economic Education

w w w . g c e e . o r g


Our essential question…

What is economics?

economics is
Economics is…

Our enduring understanding…

making decisions about allocating limited resources to get the unlimited number of things we want.

the millionaire game
The Millionaire Game
  • Most millionaires are college graduates.TRUE
  • A majority of millionaires work fewer that 40 hours a week. FALSE
  • More than half of all millionaires never received money from a trust fund or estate. TRUE
  • More millionaires drive Fords than Cadillacs. TRUE
the millionaire game1
The Millionaire Game
  • Most millionaires work in glamorous jobs such as sports, entertainment, or high tech. FALSE
  • Many poor people become millionaires by winning the lottery. FALSE
  • College graduates earn about 65% more than high school graduates. TRUE
the millionaire game2
The Millionaire Game
  • If you want to be a millionaire, avoid the risk of the stock market.FALSE
  • At age 18, you decide not to smoke and save $1.50 a day. You invest this $1.50 a day at 8% interest until you are age 67. At age 67, your savings are worth almost $300,000. TRUE
  • Single people are more often millionaires than married people. FALSE
why a workshop on economics
Why a workshop on economics?

Remember, this is a

United States History


the new gps grades k 5
The New GPSGrades K-5
  • approved October 2004
  • two major changes
    • focus on the United States all six years
    • builds across the grades like a ladder
kindergarten symbols of america
KindergartenSymbols of America
  • Where We Live
  • Observing Labor Day
  • Observing Columbus Day
  • Observing Veterans Day
  • Observing Thanksgiving Day
  • Observing Martin Luther Day, Jr. Day
  • Observing Presidents Day
  • Celebrating Our Nation
  • Personal Finance
grade one american heroes
Grade OneAmerican Heroes
  • Our Earth, Our Home
  • Benjamin Franklin
  • Thomas Jefferson
  • Lewis & Clark; Sacagawea
  • Harriet Tubman
  • Theodore Roosevelt
  • George Washington Carver
  • American Folktales
  • Personal Finance
grade two georgia my state
Before There Was a Georgia

Georgia’s Beginnings

James Oglethorpe


Mary Musgrove

Native Georgians




Civil Rights

Martin Luther King, Jr.

Jackie Robinson

Human Rights

Jimmy Carter

Personal Finance

Grade TwoGeorgia, My State
grade three our democratic heritage
Roots of Our Democracy

Our Economy

Paul Revere

Frederick Douglass

Susan B. Anthony

Mary McLeod Bethune

Franklin Roosevelt

Eleanor Roosevelt

Thurgood Marshall

Lyndon B. Johnson

Cesar Chavez

Grade ThreeOur Democratic Heritage
grade four u s history beginnings to 1860
Grade FourU. S. History: Beginnings to 1860
  • Native American Cultures
  • European Exploration in North America
  • Colonial America
  • The American Revolution
  • The New Nation
  • Westward Expansion
  • Personal Finance
grade five u s history since 1860
Grade Five U. S. History Since 1860
  • The Civil War
  • Reconstruction
  • Turn of the Century America
  • World War I
  • The Great Depression
  • World War II
  • The Cold War
  • America Since 1975
  • Personal Finance
the new gps grades k 51
The New GPSGrades K-5
  • rollout training completed
  • implementation began Fall 2008
  • new CRCT Spring 2009
the new crct
The New CRCT
  • history
  • geography
  • civics/government
  • economics
  • (including personal finance)
  • core skills
    • map and globe
    • information processing
why economics in united states history
Why economics in United States History?
  • U.S. schools rely on history to teach about our national identity and knowledge of our past.
    • Are we succeeding?
why economics in united states history1
Why economics in United States History?
  • Think about the context of history…
  • History is the record of political and economicdecisions that people have made across time.

How do we prepare?

Focus on economic decision making across the eras of United States history.


United States

Economic History

Teaching the Economics

Georgia Performance Standards

at Grades 4 and 5

Georgia Council On Economic Education

w w w . g c e e . o r g

components of us economic history
Components of US Economic History
  • Essay for the teacher on the economic history of our nation
  • Series of seven lesson plans, one for each era of the new GPS framework
  • Glossary of GPS economic terms
  • Sample CRCT test questions for each unit
introducing the us economic history lessons
Introducing the US Economic History Lessons
  • embedded in eras of history
  • lesson essential question
  • introduction/abstract
  • GPS correlation
  • economic concepts
  • lesson knowledge and skills objectives
  • list of materials needed
  • time required
  • procedure
  • assessment
personal finance
Personal Finance
  • comprehensive program targeted at grades K-2, 3-5
  • separate workshop
  • offered through the Stock Market Game
factors of production productive resources
Factors of ProductionProductive Resources
  • Natural Resources/Land
  • Human Resources/Labor
  • Capital Goods/Tools
  • Entrepreneurship
      • innovative ideas
      • risk taker
who would have predicted in 1980
Who Would Have Predicted in 1980…
  • the collapse of the
  • Soviet Union
who would have predicted in 19801
Who Would Have Predicted in 1980…
  • Nelson Mandela
  • as president of
  • South Africa
who would have predicted in 19802
Who Would Have Predicted in 1980…
  • economic stagnation in Japan
who would have predicted in 19803
Who Would Have Predicted in 1980…
  • Record US economic
  • expansion in the 1990s
  • Recent economic debacle
the guide to economic thinking pulling the pieces together
The Guide to Economic ThinkingPulling the Pieces Together
  • People choose.
  • People’s choices involve costs.
  • People respond to incentives in predictable ways.
  • People create economic systems that influence individual choices and incentives.
  • People gain when they trade voluntarily.
  • People’s choices have consequences that lie in the future.
the classroom solution
The Classroom Solution...

teaching essential economic concepts in the context of

United States history.


Do You Teach this “stuff”?

how we teach is as important to student learning as focusing on what we teach
HOWwe teach is as important to student learningas focusing on WHATwe teach.
what makes a difference
What makes a difference?
  • Factual Information - 35% Retention
    • lecture
    • textbook
    • flashcards
  • Conceptual Schemes - 50% Retention
    • webbing
    • graphic organizers
  • Motor Activities - 70% Retention
    • draw and label graphs
    • role play, simulations
    • build models
  • Thinking Skills - 80% Retention
    • data and document analysis
    • problem solving
  • Attitudinal Development - 100% Retention
    • discussion of controversial topics
    • debates