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EDEL453 Spring2013 LaquishaJOHNSON Unit 2 Economics DAY 7

EDEL453 Spring2013 LaquishaJOHNSON Unit 2 Economics DAY 7

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Published by: La'Quisha Johnson on May 06, 2013
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Title of Unit: Economics EverywhereTitle of Lesson: Get the Buzz on Business
Submitted By: Kelli Pavalon, La’Quisha Johnson
Nevada State College EDEL 453 - Spring 2013 Karen Powell- Instructor 
Summary of the Lesson Plan
:This economics lesson plan is designed for fourth graders to learn aboutbusinesses. Students will learn how businesses work. Students will also understandthe entrepreneurs can be successful.
Target Population:
Grade Level:
Skill Level:
all skill levels
whole group, small group, partners, individuals
The Books:
Smart Girl's Guide to Money& Uncle Jed’s Barbershop
NV State Social Studies Standards
E11.4.2 Define entrepreneur and identify those individuals inNevada
Student-Friendly Standards
E11.4.2 I will be able to know the names and businesses ofentrepreneurs in Nevada
In question: Students will be asked to write in their journals what they think abusiness is and what an entrepreneur is. We will discuss the various answers, Iwill explain and discuss both.
Students will break up into 5 groups, each group will read a chapter out of
 ASmart Girl's Guide to Money.
Students are to get the main ideas from theassigned section and create a jigsaw (summary and picture) about thechapter then present it to the class.
We will discuss the book, pose questions, and answer questions.4.
We will read a handout on entrepreneurs, discuss and ask questions.
Title of Unit: Economics EverywhereTitle of Lesson: Get the Buzz on Business
Submitted By: Kelli Pavalon, La’Quisha Johnson
Nevada State College EDEL 453 - Spring 2013 Karen Powell- Instructor 
Students will receive a packet: Uncle Jed’s Barbershop
, we will read a book (the packet is based on the book)6.
Ask students what they think the book is about, ask them if they have ever 
been to a barbershop/beauty shop…. As I read aloud,
students will pair up
and read along on the Kindles… While reading, we will discuss:
Read thebook to the students. Discuss the following:Where does it look like the little girl on the cover of the book is gettingher hair cut? (Answers will vary, but some students may say in ahouse.)Who is telling the story? (Sarah Jean)How do you know it is Sarah Jean who is telling the story?
Why did he come to the house? (to cut her father’s and her grandfather’s hair)
 Did he cut her hair? (No) Why not? (Becau
se Sarah Jean’s mother wouldn’t let him.)
What did he do for her? (He would run the clippers on the back of her neck and just pretend to cut her hair. He would spread lotion on her neck.)Explain that saving means not spending money now but instead keeping the money tobuy things in the future. Discuss the following:What was Uncle Jed saving for? (a barbershop)What goods or services have you saved for? (5 minute discussion)Explain that a savings goal is any good or service for which you aresaving. Ask 
the students what Uncle Jed’s savings goal was. (a
barbershop)Explain that the story is set in the southern United States, also known as the South, in the1920s and 1930s. Discuss the following:What does Sarah Jean say most people where she lived in the Southdo for a living? (They were sharecroppers.)What does Sarah Jean say it means to be a sharecropper? (SarahJean explains that sharecroppers lived in a shack and worked
somebody else’s land in exchange for a share of the crop.)
Was Sarah Jean’s fathe
r a sharecropper? (No) Why not? (He ownedand farmed his own land.)How old was Sarah Jean when she got sick? (Five)Explain that alternatives are the different possibilities we choose from in a givensituation. Whenever a choice is made, something is given up. Opportunity cost is thebest alternative that we give up when we make a choice. Discuss the following:
Title of Unit: Economics EverywhereTitle of Lesson: Get the Buzz on Business
Submitted By: Kelli Pavalon, La’Quisha Johnson
Nevada State College EDEL 453 - Spring 2013 Karen Powell- Instructor 
3If you go to the store and you only have money for either an icecream cone or a snow cone and you choose the snow cone, what isyour opportunity cost? (an ice cream cone)
Why can’t you have both the ice cream cone and the snow cone?
(only have enough money for either an ice cream cone or a snowcone)
Because you don’t have enough money for both an ice cream
cone and a snow cone, what do you have to do? (make achoice)If you chose the ice cream cone, what would be your opportunitycost? (a snow cone)
What was the opportunity cost of Uncle Jed’s decision to pay for Sarah Jean’s operation? (delay in opening his barbershop)
 Continue reviewing the story by discussing the following:
After paying for Sarah Jean’s surgery, what did Uncle Jed do?
(continued to save)What news did Mr. Ernest Walters come to give Uncle Jed? (Thebank had failed.)Explain that a bank failure happens when a bank goes bankrupt. Ifyou put your money in a bank today, it is most likely insured, whichmeans that you will get your money back even if the bank fails. In
Uncle Jed’s time, bank deposits were not insured. In those days,
when banks failed, the people who had deposited money in thebanks lost their money.How much money did Uncle Jed lose when the bank failed? (Over $3,000)7.
Have students discuss the book, pose questions, and try to answer questions.8.
Individually, students will complete the 2 last page in the packet bythemselves and turn in for assessment. Last two pages, students must goonline to find a Nevada entrepreneur; students must give the website,
person’s name, business, and a couple facts. The last page is a handout for George’s
story, students must answer the questions.9.
Students will complete the out question(s): What is a business?What is an entrepreneur? Give examples of each.
What will you use to measure student understanding?
I will use the discussions as informal assessment. Formal assessment will be byusing the packet and out question.
Explain how you will know students understand the concepts from the lesson.

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