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Unit Plan: Economics Educated

Lesson Plan for Tuesday


Grade: 3rd
Social Studies Strand: Economics
Submitted By: Nancy Vargas-Cisneros


EDEL 453: Teaching Elementary School Social Science
Nevada State College Spring 2014
Instructor: Karen Powell
Lesson Plan for Tuesday Strand: Economics submitted by: Nancy Vargas-Cisneros

Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 2
B. Summary of the Lesson Plan:
This social studies lesson is for 3rd grade students to learn about prices consumers pay
when buying goods or services. Students will learn the relationship between supply and
demand. Learning the importance of free enterprise in the United States and different
kinds of producers. This lesson uses the Houghton Mifflin 3rd grade Social Studies teacher
edition textbook: Communities (p.286-289). Also, uses an activity on supply and demand
found: http://www.totally3rdgrade.com/lesson_plan_supply_demand.html
C. Basic Information:
Grade Level: 3
rd
grade
Time to Complete this Lesson: Approximately 50 minutes
Groupings: Whole group when discussing question, readings and supply and demand
activity. Independent practice: Critical Thinking writing assignment on TE. pg.
D. Materials:
Teacher Materials: tokens, prize for each student in class (Ex: chocolate kisses)
Student Materials: pencil, 3 index cards, Houghton Mifflin 3rd grade Social Studies Book:
Communities (p.286-289) - one for each student

E. Objectives:
o NV State Social Studies Standards
E9.3.2 Give examples of prices consumers have paid when buying
goods and services.
o Student-Friendly Standards
E9.3.2 I can explain and give examples why consumers pay certain
prices when buying goods and services.
F. Vocabulary
Demand -a need for goods and services
Supply - in economics supply applies to both goods produced and services provided.

Consumer -someone who buys the goods or services sold by a producer

Producer - someone who makes and sells goods.


Lesson Plan for Tuesday Strand: Economics submitted by: Nancy Vargas-Cisneros

Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 3
G. Procedure:
1. First teacher will give students a box of tokens with at least two different colors in it.
-Teacher will tell students they may select any number of them from 1 to a handful.
-Teacher will pick a value for the tokens (after students have already selected their
tokens)
-Teacher will then show students an object that students would like to win and tell the
students that if they own this object they will get an A for this lesson. Teacher will let
students know there is only one of that object.
-Teacher will then open the bidding at 10 tokens to purchase the item. Auction will
continue until a student has paid a high price for the item and received it.
-Then teacher will pull out another object just like the prior item sold and say that you
do just happen to have a few more of these items and you will open the bidding at
1. Teacher then waits for a reaction on students.
2. Second, teacher will write supply and demand on board and ask the individual who
bought the overpriced item to explain what these terms (supply and demand) mean to
him in light of the experience he just had.
- Teacher will ask student why he was motivated to pay such a high price and if he had
known there were more of those items to go around would he have paid the same
amount.
- Have a class discussion on these questions
3. Teacher will then go over vocabulary words.
4. Students will then read p. 286-289 as a class.
5. Discuss questions on Teach talk about it on p. 287 TE.
H. Assessment:
What will you use to measure student understanding?
Critical Thinking on TE. pg. 288 and discussion questions after first activity on supply and
demand.
Explain how you will know students understand the concepts from the lesson.
When students are able to explain and give examples why consumers pay certain
prices when buying goods and services. Relating examples to supply and demand.
I. Closure:
Review tested objectives on TE pg. 289 Go over thoughts on supply and demand
activity and what was learned today.
J. Reflection:
1. Which part of the lesson do you think will be the easiest for you to teach?
Lesson Plan for Tuesday Strand: Economics submitted by: Nancy Vargas-Cisneros

Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 4
I think the supply and demand activity in the beginning of the lesson would be the
easiest to teach. Since, lesson activity is hands on I think more students will learn
supply and demand faster.
2. Which part will be most challenging for you to teach?
I think the most challenging part of the lesson to teach would be having students
understand that producers have the right to make choices about what prices they
sell their goods and services.
3. How will you follow up or extend this lesson?
I could follow up lesson by doing Extend lesson on TE. Pg 290 on The Price of
Juice.
4. What can you do for students who dont grasp the concepts?
For students who did not grasp the concepts I can have them fill out the reading skill
and strategy worksheet, as well as the vocabulary worksheet and do reteach mini
lesson on TE. Pg 289 using the description wheel.
5. Which part of the lesson, if any, do you think might need to change?
I actually love this lesson. I am glad I found such a great activity to do for supply
and demand; I would not change anything in my lesson.
6. When you were writing this lesson plan, what was the most difficult part?
The most difficult part of this lesson was the procedure. Deciding if I should start off
with the activity for supply and demand or start off with vocabulary.