Economics Lesson Plan

Abby Demers
Lesson Plan
Economics Lesson Plan
1. Lesson Name/Title: What Do You Choose?
2. SOLs/Foundation
Blocks
Economics
3. Objective(s)
4. Assessment of Objective(s)
Economics
1.8 The student will

explain that people make
choices because they
cannot have everything
they want.
The student will

choose which objects
he wants to buy with
the money that he is
given during the
activity.
The student will have to explain to me what

material they bought, how much they spent,
and how much money they have left over.
The student will also have to read me their
sentence that they filled out at the end of
the worksheet. There will be a checklist to
mark whether each child completed the
activity or not.

recognize that people save
money for the future to
purchase goods and
services.
Writing
The student will

explain why saving his
left over money will
benefit him later on
when he wants
something else.

print legibly.
Writing
1.13 the student will write

to communicate ideas for a
variety of purposes.
The student will label

all of the objects that
they can buy on the
worksheet before
starting the activity.
Measurement
determine the value of a
collection.
The student will write

out what they bought
at the end of the
worksheet and explain
it to the group.
Measurement
The student will be
given a bunch of
different coins that
add up to different
amounts and they will
have to determine the
value of their coins
(pennies, nickels,
dimes, and quarters)
before choosing what
they want to buy.
Abby Demers
Lesson Plan
5. Materials
Toy Money
Making Choices Worksheet
Pencils
Crayons
Markers
Round Table
6. Optimal Students/Seating Arrangement for the Lesson For this lesson, the children will
be working in groups of no more than five. The students in the group will be sitting at the round
table that is to the side of the classroom. There can only be a maximum of five students in the
group, so that each of them has enough room to count their money.
7. Lesson Sequence
Introduction (5 minutes) The teacher will start off the lesson by getting some prior
knowledge about choices. The teacher will explain to the children what a choice is and
how it affects the way that they live. The teacher will go around the group and ask the
children about some choices that they have made that day. The teacher will talk to the
students about money. The teacher will also gather the students prior knowledge about
money and what it is used for. The teacher will explain to the students what money is,
why we have it and what it is used for. The teacher will pull out the tub of play money
and explain what each coin is worth, introduce the worksheet and explain the activity.
The teacher will also go over the rules for the activity and her expectations of the group.
What Will The Teacher Say
Morning everyone!
When you go to the store with your family,
and you get asked what do you want for
dinner?what do we call that?
You are getting asked a questionbut
when you get asked a question you have to
make a
Thats right! You have to make a choice!
What about when you are done shopping
and you are about to leavecan you just
walk out of the store and take their food?
What Will The Student Say

Hello Ms. Demers
A question
No! Right! What do you have to do before

you walk out of the store and pack up your
trunk?
You have to pay for it!

You use a card
You do have to pay for itand when we

pay for things we can use a card or we can
use dollar bills. But what is all of that
called? When we pay for things, we pay
with?
Good job! We pay with money. So we
make choices to decide what we want to
do. Sometimes we make good choices and
sometimes we make bad choices. It is
always good to try and make the right
decision. The right decision will help you
later on.
Money!
CHOICE!
No!
We always make the right decision Ms.

Demers.
Abby Demers
Lesson Plan
You make think so! When you make a
decision, you need to look at how it is
going to affect you and how it will affect the
people around you that you care about.
Oh, I see. So when we talk out loud in

class, it bothers everyone and thats not
the right choice.
There you go! Thats it.

So it seems like you know about
moneydo you know what money is?
We need to make better choices.

Its a card
Paper!
Money can be in the form of paper or on a

card. When people have money, do you
think that they just get it?
No! You have to have a job.
Exactly! You have to have a job to earn

money. When you have a job, you work
really hard to earn your money. Mrs.
Adams works really hard teaching you
guys so that she can get money to pay for
her family.
Do you get paid to work here?
NoI do not get paid to work here, I am

more of a volunteer. But I do plan on
becoming a teacher like Mrs. Adams and
getting paid to teacher kids like you!
You are going to be twins! You will both

earn money.
Yes! So when we earn money, we need to

be careful about how we spend it. You do
not want to buy so much and run out. You
want to save and treat yourself every once
in a while.
So here is our money tub. And here is a
worksheet. On this worksheet there are ten
things that you can choose from. Each
picture is worth a certain amount of money.
I am going to give you a dollar in coins and
you will have to decide what you want.
Thats why we do not get toys all the

time
How much is a penny worth?

A nickel is worth 10 cents right?
Okay so a dime is worth 10 cents!
So we have a quarter lefthow much is
that worth?
One cent
No! Five cents
Yeah!
Twenty five cents!
You guys got it.

So on the worksheet, you have to first label
all of the objects and tell me what they are.
Then you are going to pick which things
you want to buy and youre going to take
that amount of money out of your pile and
set it aside so you know that you cannot
use it anymore. Youre going to do this until
you cant buy anymore. When you decide
to buy something, put a check mark by it so
you dont forget!
Yay!
Okay! Give me my money.
Abby Demers
Lesson Plan
LETS GET STARTED
Okay!
Procedures (15 minutes) The children will start using the worksheet during this
portion of the lesson. First the children will have to label each of the objects that they can
choose to buy before grabbing the toy money. Once the children have their pictures
labeled they can start using the money manipulatives. As the lesson progresses, the
teacher will be asking questions about the childrens choices. The questions will relate to
what they have chosen to buy, how much they have spent so far and how much they
have left to spend. The students will have the option to spend as much money as they
can or want to spend. Once they have chosen all of their objects, the students will have
to write a sentence at the bottom which explains what they have bought (EX. I
boughta ball).

Are you guys having fun?
Yes you are. What have you bought so
far?
Wow! You all have bought some pretty

nice things.
Keep spending then. How much have you
spent?
I am glad that you can count up your

money! I am so proud!
How much do you have left to spend?

Yeah! We are rich!
Bear
Train
Doll
Ball
Lollipop
Crayons
Book
Shoes
Jacket
Food
We still have more to buy!
20 cents
50 cents
10 cents
35 cents
That math tub that we have really helps!
80 cents
50 cents
90 cents
65 cents!
Okay
You still have a fair amount to spend, try

and find some other things that you want to
buy.
When you have finished you need to write
I am done!
down what you have bought at the bottom
of your paper. Then raise your hand and
we can go over it together.
Good job! You can draw a picture on the
Coloring! Yay!
back while we wait.
Closure (5 minutes) After all of the children have completely finished their worksheet,
the teacher will go around the table and start a review. The teacher will ask the students
to read their sentence on what they bought. The teacher will also ask the children to
figure out how much they have spent and how much they have left over. After each
student had read their paper, the teacher will go over with the children how money is
Abby Demers
Lesson Plan
important to us and how we have to make choices to better our life.

So who wants to volunteer and read their
sentence about what they bought?
How much did you spend?
You still had a lot left over; you did not
want to buy anything else?
Wow! Did everyone hear how he was
going to save his money for the next time
he needed to go shopping?

Me! I bought a bear, a ball and a train with
my money.
I spent 60 cents
Nope! I want to save it for the next time I
need to buy something.
Yeah!
That is a good lesson to learn, saving

money will help you have more money in
the long run.
For the most part yes. We spend money on
things that we need like food, water and
shelter. But we dont need to buy candy all
the time or a new toy every time we go out.
Money is important to us because it helps
up live. We are able to buy things that we
need with moneyand when we buy
things that we need it helps us live.
You are all still growing so that makes
sense.
Yes you are. So who can tell me why we
make choices.
So saving is better than spending?
That is right! We make choices to keep

ourselves happy and safe. We also make
choices so that the people around us are
safe.
Pack up everyone and we will move to the
next station!
We will be better in class! We promise!
Ohwe understand now!
Yeah! I always have to have my food

because I am always hungry!
We are going to be get big!

We make choices because we dont
always get what we want and we dont
need everything.
Bye Ms. Demers!
8. Modifications for children at different learning levels

I have a child with Autism Spectrum Disorder in my classroom. This child has a full time
aid with him. This child also requires hand over hand assistance when he writes, draws
or colors. This child is able to pick up small things like the toy money but will need
assistance deciding which things to buy. The full time aid or myself will help this student
write and decide which objects on the worksheet he would like to buy with the money he
will get.
9. Reflections The students loved this activity. They thought that it was cool to be able to
choose what they wanted to buy, while also being able to see what their friends bought. The
children were engaged for the entire activity, but did collaborate with each other during the
process. Some children bought what their best friends bought and some children did the work
independently like they were asked. There was no misbehaving or attitude during this activity. If
I had to do this activity again, I would have real materials for the children to use. Having the real
materials would allow the students to have a concrete version of what they were trying to buy
and that would allow them to really be able to see and feel their items.
Abby Demers
Lesson Plan
Making Choices
When we buy a good or service, we have to make
choices. Sometimes we cant buy everything we want. You
have 100 cents ($1.00) to spend. Circle the items that you
want! Make sure that you do not spend over 100 cents
($1.00).
0.25
0.20
0.25
0.05
0.10
0.15
1.00
1.00
0.30
0.50

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Abby Demers

1.8 The student will

The student will

The student will have to explain to me what

1.9 The student will

The student will

1.12 The student will

1.13 the student will write

The student will label

The student will write

What Will The Student Say

No! Right! What do you have to do before

You have to pay for it!

You do have to pay for itand when we

We always make the right decision Ms.

Oh, I see. So when we talk out loud in

There you go! Thats it.

We need to make better choices.

Money can be in the form of paper or on a

No! You have to have a job.

Exactly! You have to have a job to earn

Do you get paid to work here?

NoI do not get paid to work here, I am

You are going to be twins! You will both

Yes! So when we earn money, we need to

Thats why we do not get toys all the

How much is a penny worth?

You guys got it.

Okay! Give me my money.

What Will The Teacher Say

Wow! You all have bought some pretty

I am glad that you can count up your

What Will The Student Say

You still have a fair amount to spend, try

What Will The Teacher Say

What Will The Student Say

That is a good lesson to learn, saving

So saving is better than spending?

That is right! We make choices to keep

We will be better in class! We promise!

Ohwe understand now!

Yeah! I always have to have my food

We are going to be get big!

Bye Ms. Demers!

8. Modifications for children at different learning levels

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