The third grade students are learning about Economics in Social Studies this period. They are learning about goods and services, supply and demand, producers and consumers, income, the difference between needs and wants, opportunity cost, and how money/currency makes it easier to trade, borrow, save, invest, and compare the value of goods and services. By the end of this unit, students will understand most people have a limited amount of money that they can use to buy the things they want and need; that because money is limited, people need to make good choices about how to wisely save and spend it. Through a fun and engaging S.T.E.A.M. project, students will also have the opportunity to be entrepreneurs by producing their own goods or services. They will practice being in the roles of consumers, producers, and entrepreneurs. This hands-on project provides students the opportunity to practice their mathematical skills in calculating and accounting for inventory levels, costs, profits, income, and how to manage money and time wisely and efficiently.
-Alice Kong-
