Transcript Economics is…

Economically
Are You Smarter
^
Than a Fifth Grader?
Teaching the Elementary Economics
Georgia Performance Standards
Georgia Council On
Economic Education
www.gcee.org
Our essential question…
What is economics?
Our enduring understanding…
Economics is…
making decisions about
allocating limited resources
to get the unlimited number
of things we want.
How to Really
Be a Millionaire
The Millionaire Game
1. Most millionaires are college graduates. TRUE
2. A majority of millionaires work fewer that 40
hours a week. FALSE
3. More than half of all millionaires never
received money from a trust fund or estate.
TRUE
4. More millionaires drive Fords than Cadillacs.
TRUE
The Millionaire Game
5. Most millionaires work in glamorous jobs such
as sports, entertainment, or high tech. FALSE
6. Many poor people become millionaires by
winning the lottery. FALSE
7. College graduates earn about 65% more than
high school graduates. TRUE
The Millionaire Game
8. If you want to be a millionaire, avoid the risk of
the stock market. FALSE
9. 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
10. Single people are more often millionaires than
married people. FALSE
Why a workshop on
economics?
Remember, this is a
United States History
course!!
The New GPS
Grades 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
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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
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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
– Tomochichi
– Mary Musgrove
• Native Georgians
– Creeks
– Cherokee
– Sequoyah
• Civil Rights
– Martin Luther King,
Jr.
– Jackie Robinson
• Human Rights
– Jimmy Carter
• Personal Finance
Grade Three
Our Democratic Heritage
• Roots of Our
Democracy
• Our Economy
• Paul Revere
• Frederick Douglass
• Susan B. Anthony
• Mary McLeod
Bethune
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Franklin Roosevelt
Eleanor Roosevelt
Thurgood Marshall
Lyndon B. Johnson
Cesar Chavez
Grade Four
U. S. History: Beginnings to 1860
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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
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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-5
• rollout training completed
• implementation began Fall 2008
• new CRCT Spring 2009
The New CRCT
• history
• geography
• civics/government
• economics
(including personal finance)
• core skills
• map and globe
• information processing
Content Weight for the GPS
CRCT
Grades
K-2
Grade
3
Grade
4
Grade
5
History
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30%
50%
50%
Geography
--
20%
15%
15%
Civics
--
30%
20%
20%
Economics
--
20%
15%
15%
QCC
Economics
--
10%
10%
GPS
10%
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 History?
Think about the context of history…
History is the record of
political and economic decisions
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
www.gcee.org
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
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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
• comprehensive
program targeted at
grades K-2, 3-5
• separate workshop
• offered through the
Stock Market Game
What is
economics?
What do adults frequently
identify as the most basic
concept in economics?
Economics is
More Than
Supply and
Demand.
What do students frequently
identify as the most basic
concept in economics?
Economics is
More Than
Money.
What is the most basic,
fundamental concept in
economics?
Scarcity
Factors of Production

Productive Resources
• Natural Resources/Land
• Human Resources/Labor
• Capital Goods/Tools
• Entrepreneurship
• innovative
• risk taker
ideas
Who Would Have
Predicted in 1980…
• the
collapse of the
Soviet Union
Who Would Have
Predicted in 1980…
• Nelson Mandela
as president of
South Africa
Who Would Have
Predicted in 1980…
• economic
stagnation in Japan
Who Would Have
Predicted in 1980…
• Record US economic
expansion in the 1990s
•Recent economic debacle
Who Would Have
Predicted that in 2007?
Gas prices would be $4.00 per gallon in
2008?
The Guide to Economic Thinking
Pulling the Pieces Together
1. People choose.
2. People’s choices involve costs.
3. People respond to incentives in predictable ways.
4. People create economic systems that influence
individual choices and incentives.
5. People gain when they trade voluntarily.
6. People’s choices have consequences that lie in the
future.
The Classroom Solution...
teaching essential economic
concepts in the context of
United States history.
Economics…
Do You Teach this
“stuff”?
HOW
we teach is as important
to student
learning
as focusing on
WHAT
we teach.
What makes a difference?
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Factual Information - 35% Retention
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Conceptual Schemes - 50% Retention
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webbing
graphic organizers
Motor Activities - 70% Retention
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lecture
textbook
flashcards
draw and label graphs
role play, simulations
build models
Thinking Skills - 80% Retention
– data and document analysis
– problem solving
Attitudinal Development - 100% Retention
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discussion of controversial topics
debates