Lesson Plan- Economics

8/12/2019 Lesson Plan- Economics

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Lesson Plan #3

Grade: 3rd

Social Studies Strand: Economics

Submitted By: Vida Reljic

EDEL 453: Teaching Elementary School Social Science

Nevada State College – Spring 2014

Instructor: Karen Powell



Lesson Plan #2 – Economics submitted by: Vida Reljic

Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 2

B. Summary of the Lesson Plan:

This social studies lesson is designed for 3rd grade students to learn about using money

wisely using banking terms. This lesson uses the Houghton Mifflin Social Studies textbook

“Communities” (p. 266-269).

C. Basic Information:

Grade Level: 3rd grade

Time to Complete this Lesson: approximately 50 minutes

Groupings: direct instruction, discussion, independent for activity, assessment

D. Materials:

Houghton Mifflin 3rd Grade Social Studies Book: Communities (TE 268 and TE 269)- for

each student

(TE 268) (TE 269)

Vocabulary words for each student (sample -TE 266). Review/ reading maps (sample

on TE 267)

(TE 266) (TE 267)





White board, dry-erase marker, and expo eraser

Items to purchase, pencil, paper currency from the U.S, and paper currency from other

countries

E. Objectives:

NV State Social Studies Standards

E10.3.2. Define banking terms including saving, interest, and borrowing.

Student-Friendly Standards

I can explain different terms used in banks such as interest, saving, and

borrowing.

F. Vocabulary

Budget - (n) Is a plan for using money.

Bank - (n) A place where you can store your money to keep it safe.

Borrowing- (n) Money the bank (or a person) gives you, but it has to be paid back over

time.

Income- (n) Is the money people earn for work.

Interest- (n ) Is the money the bank pays you for keeping your money there.

Saving- (n ) Not spending money and keeping it in a safe place such as a bank.

G. Procedure:

1. Refer to notes on TE 266- “Using Money”.





Introduce the words „bank, budget, borrowing, income, interest, and saving‟.

Discuss how people use money- refer to TE 267.

Call of students to share their answer.

2. Discuss earning and spending money- refer to TE 268.

3. Discuss different ways of saving money- refer to TE 269.

4. Students should write their response to the questions located on TE 269.

(TE 268) Why do people make budgets?

(TE 269) Name two ways people can earn money?

5. Hands-on activity: Use Strategy 22- Currency as a Primary Source.

Give students paper currency from the United State and other countries

Have students explore the currencies.

6. Set up different items with price tags that students can purchase.

Give each student a budget.

Have students walk around the classroom and purchase items according to

their budgets.

9. Have students draw pictures of their items, the U.S. money they used, and money from

other countries they used to purchase the items.

10. Answer the following questions:

What could you buy with your money?

How did you feel using different types of money?

o Use 1 vocabulary word.

H. Assessment:

What will you use to measure student understanding?

I will measure students‟ understanding by viewing how the students used their money

when purchasing items and how they used a vocabulary word.

Explain how you will know students understand the concepts from the lesson.

Students must “Give examples of different banking terms we discussed.” Stand up and

pair-up with another student and discuss the items they purchased with their budgets.

Student must use vocabulary terms when speaking to each other.

I. Closure:

Each student will pick a random vocabulary word from the “lesson hat”. Students must

define the vocabulary word or use an example, and share their answer with the whole

class.

J. Refection:

1. Which part of the lesson do you think will be the easiest for you to teach?





I think using examples to describe different banking terms will be the easiest to

teach because most students know these terms since they heard it from their

parents/guardians.

2. Which part will be most challenging for you to teach?

I think the most challenging part to teach will be having the students use differentcurrencies from other countries to purchase the items. They might be slightly

confused when they first start purchasing their items.

3. How will you follow up or extend this lesson?

As an extension to the lesson, I would use Extend Lesson 1 (p.270) about Max

Malone Makes a Million, where students read about Max Malone and try to figure

out how to use money to make more money based on currency from U.S. and

other countries.

4. What can you do for students who don’t grasp the concepts?

For students who don‟t understand the concepts in this lesson, I would use the Skill

and Strategy diagram located on TE 266. I would work together with the struggling

students to complete the chart using supporting ideas from the text. I would also

read the questions before reading the text and have the students think about the

questions as we read the text.

5. Which part of the lesson, if any, do you think might need to change?

I believe there should be more examples in the text that students can relate to.

Examples can include different ways of saving lunch money or allowance money

by not buying unnecessary things.

6. When you were writing this lesson plan, what was the most difficult part?

The most difficult part of writing this lesson plan was deciding how to explain

different currencies to students. Some students that never heard of different

currencies will have difficulties completing the activity.

7. Explain the strategy from “Integrating Language Arts & Social Studies” that you

included in this lesson plan.

The strategy that I chose to incorporate in this lesson plan was Strategy 22: Currency

as a Primary Source. I believe this strategy fits into the lesson about banking systemsbecause students will understand currencies from other countries and they will get

to do hands on activities using different currencies by purchasing items based on

their budgets. Students will be exploring their vocabulary words while doing hands

on activities.

Documents

Lesson Plan- Economics