I am so excited to share with you what I like to do with my students in the month of December. I usually launch this economics unit when we return from Thanksgiving break. It can be as long, or as short as you’d like, but I recommend giving it at least a week’s worth of Social Studies lessons. For me, 2 weeks is the sweet spot.
Okay, so the overall idea of this unit is to turn your students into entrepreneurs and your classroom into a North Pole workshop! You will teach various social studies concepts and will guide students into developing businesses in teams. Students will earn money from you each day based on their productivity level. On the final day of the unit, all the goods created will be for sale. Students will first have to pay taxes, then will get to shop with their remaining earnings. The items created in your classroom will be great gifts students can “buy” to give to their family members for the holidays.
I have found that this is such a fun way for students to learn in the month of December. It really helps channel all of that excited energy into some great learning! Plus, students love to be able to go home with gifts for family members.
Social Studies Topics covered include:
•Wants vs. Needs
•Goods vs. Services
•Producers vs. Consumers
•Businesses in our communities
•Supply & Demand
•The role of banks
During Part one, students will be learning important concepts of economics, such as needs vs. wants, supply and demand, goods and services, and producers and consumers.
For this part of the unit, I recommend giving students at least 3-5 days to work on their businesses for about 30 minutes.