Jigsaw

Jigsaw Mini Lecture Project

Chapter 7: Economics Erika Alvarez, Kathleen Johnston, and Megan Hatfield __Growing Importance of Economics__ __National Economics Standards__
 * Economic Literacy
 * Financial Literacy
 * National Council on Economic Education (NCEE)
 * Issued 20 content standards and related benchmarks to increase economic literacy.
 * Has state centers on economic education in almost every state.
 * Has hundred of economic lesson plans online.

__Economic Principles__ Simplified List: Each state varies
 * 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 choices have consequences that lie in the //future.//

__Rationale for Teaching Economics__ Stages of economic reasoning:
 * 1) Identify the question or the problem
 * 2) List the alternatives
 * 3) Identify the advantages and disadvantages or each alternative
 * 4) Choose the best alternative
 * 5) Reevaluate the consequences of the decision

__Different Economic Interpretations Incite Controversy__
 * Economist hold different views or intrepretations about various economic topics and recommendations for what the government should do.
 * Economic choices involve values.
 * Economic policy decisions address political issues.

__Children and Economics__ __Teaching about Production and Exchange in the Primary Grades__ __Using Literature__ __Case Studies__ __Skits, Dramatic Reenactments, and Simulations__ __Financial Literacy or Personal Finance__
 * Children have many misconceptions about money and the economic world.
 * An issue of privcacy araises about making students more aware of the cost of the cost of their own housing.
 * Appropriate economics books
 * Teaching strategies
 * Resources from the NCEE
 * Practical real life experiences
 * More difficult as the novels become more complex and longer.
 * Illustrated books are a good way to introduce economic concepts such as, opportunity cost and production.
 * Collection of data about a single individual, single social unit, a particular event, a decision, or a given issue.
 * Skits can be produced by either the teacher or the students.
 * Dramatic play reenacts historic economic decisions.
 * Dramatic play is necessary to ensure that students understand the point of view they are to role play
 * Remember to focus on the economic concepts underlining the dramatic play.
 * Computers are a good way to teach students about economics through simulations.
 * Money
 * Banking
 * Earning money
 * Spending money
 * World of work

**Multiple Choice Questions:** 1. Which is not an economic principle? A. People Choose B. Choices involve cost D. People gain when they trade voluntarily.
 * C. People choices have consequences that lie in the past.**

2. All of the following are ways to get students to meet the economic standards? A. Economic books C. Resources for classroom from NCEE D. Teaching strategies
 * B. Written test**

3. Which answer best describes a teaching strategy for teaching economics? A. Using literature B. Case Studies C. Skits, dramatic reenactments, and simulations.
 * D. All of the above**

4. How do students gain a better understanding of history? B. Economic Awareness C. Defining the Economic Processes D. Assessments
 * A. Economic Reasoning and Economic Concepts**

5. What word describes learning economics through demonstration? A. Demonstration B. Case Studies D. Reenactments
 * C. Simulation**

**Short Answer Questions:** 1. What is the rationale for teaching economics? 2. Why do economic interpretations incite controversy? 3. Is it an invasion of privacy to have primary children ask their parents if they rent or own their housing? 1. It will help students make better decisions in our modern global economy. 2. All economist hold different views or interpretations about various economic topics and recommendations for what the government should do. Different economist focus on different areas of economics. 3. Yes or no. This is an opinion give your best reasoning. Suggested Instructional Strategies: **
 * Short Answer Answers:**
 * Literature
 * Dramatic Play
 * Reenactments