LESSON PLAN 1 Name: Laura McGuire Grade: 4 Topic: Pre-Assessment Economics Unit MISSOURI GRADE LEVEL EXPECTATIONS Economics E.4.A.4.a Compare and contrast saving and financial investment. Economics E.4.A.4.b Explain supply and demand. Economics E.4.A.4.c Explain the relationship of profit and loss in economic decisions. Tools of Social Science Inquiry: TS.7.E.4.a Generate questions and find answers using sources. LESSON OUTCOMES Each student will compare and contrast saving and financial investment, explain supply and demand, and explain the relationship of profit and loss in economic decisions. Each student will generate questions and find answers using sources. LESSON SUMMARY Students will take the Economics Pre-Test (Resource #1). Then, they will choose one question they are the most interested in and find answers using their textbook or online. Next, the teacher will give an overview of the week ahead and instruct them to fill out job applications for their desired occupation for the business simulation. MATERIALS/RESOURCES Resource #1 (Pre-Assessment), Resource #2 (Job Applications), pencils, laptops/iPads, The Kids' Money Book by McGillian, Jamie Kyle/ Phillips, Ian (Illustrator) or Lemonade for Sale by Stuart J. Murphy PROCEDURES Readiness (25 minutes): 1. Explain to the students that this is the start of the Economics Unit. 2. Distribute Resource #1, explaining to the students this is NOT for a grade, just to get an idea of

what they already know. 3. Instruct them that when they are finished with the Pre-Assessment, choose one question that

interests them most. They should copy this down in their notebook and then turn in the test. 4. Then, they can use their textbook or go online to search for the answer. 5. When everyone has their answer, put a 2:00 timer on the SMART Board. They can get up,

walk around the room and share their findings with others. 6. Tell students to return to their desks. Call on 3-4 students and ask what they learned. Focus (10 minutes): 7. Give the students an overview of the week ahead, explaining that they will be learning first

about supply and demand, then investing and saving, and finally profit and loss. 8. Explain that tomorrow, they will have their businesses open for the first day. Then can adjust

their prices, will only have a certain amount of products in stock, and will be able to purchase from other businesses. On Day 2, they will decide if they want to invest or save their money. On Day 3, they will decide what region their business belongs in and if they have made a profit or a loss. Finally, on Day 4, they will present their businesses to Shark Tank and explain why their business is or will be the most successful. (Providing students with this overview will assist them in being more engaged and aware throughout the unit.)

9. Explain that they will learn these key concepts by mini-lessons and experiencing being a part of

a businesses. 10. Explain the three businesses (High-Tech Toy Shop-sells DVDs, TVs, Smart Phones, etc., Surf

Shop- sells anything you would need to go to the beach or pool, and Ski Resort- sells skiing attire and hot cocoa) and distribute Resource #2 Job Applications for them to fill out and turn in.

Closure (10 minutes): 11. Instruct students to come to the front reading rug. 12. Read the book, The Kids' Money Book by McGillian, Jamie Kyle/ Phillips, Ian (Illustrator), or

Lemonade for Sale by Stuart J. Murphy. 13. Tell the students they will get their jobs tomorrow and begin to run their business. ASSESSMENT: 14. Check student’s Pre-Assessments for their accuracy in comparing and contrasting saving and

financial investment, explanation of supply and demand, and explanation of the relationship of profit and loss in economic decisions. Informally assess students’ ability to generate questions and find answers using sources.

DIFFERENTIATION: Students can be challenged more by asking them to generate multiple questions and find answers using resources. They can be encouraged to use both their textbook and online resources to answer questions. Students requiring additional assistance can be guided to the appropriate sources. TECHNOLOGY: Not included. SOURCE: Laura McGuire

Economics Pre-Test

1. ___________ is the amount of a product or service that is available. A. profit B. supply C. loss D. demand

2. ____________ is the amount of a product or service that people want and are willing

to pay for. A. profit B. supply C. demand D. money

3. The study of how goods and services are made, sold, and used is

A. industry B. specialization C. economics D. social studies

4. What is a profit?

5. Sally has $10. She spent $3 on lemonade supplies. After her lemonade stand, she had $12. Did she make a profit or have a loss? Explain.

6. Compare and contrast saving and financial investment.

Matching Draw a line to connect the term and the definition.

1. Savings A. anything that is purchased with

2. Investment

3. Profit

4. Loss

5. Supply

6. Demand

the hope that it will generate income or be more valuable at a future date

B. total amount of a specific good or service that is available to consumers

C. is the amount of a product or service that people want and are willing to pay for

D. money that is not meant to be spent

E. when you have less money than what you started with

F. when you make money

Name: ____________________

Birthday: _________________ 1. High Tech Toys 2. Surf Shop 3. Ski Resort

I would like to work at _____________________. I want to work here because __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ How will you make this business better? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

LESSON PLAN 2

Name: Laura McGuire Grade: 4 Topic: Supply and Demand MISSOURI GRADE LEVEL EXPECTATIONS Economics E.4.A.4.b Explain supply and demand. Tools of Social Science Inquiry TS.7.B.4.a Use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON OUTCOMES Each student will explain supply and demand. Each student will use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON SUMMARY Students will receive an envelope informing them of the company in which they were hired. Then, they will meet with co-workers and adjust prices (+ or - $1-2) if necessary to prepare for opening their business. Students will then either run their business, or shop at other businesses. Students will experience supply and demand in this simulation, and then reflect on their experiences. The class will review the key terms and then read a story to deepen understanding. MATERIALS/RESOURCES Laptops, Resource #3 (Product List), Resource #4 (Predictions), Resource #5 (Reflections), envelopes with job assignments, fake money, cash registers (if available), calculators, “Prices go up, prices go down” Book by David A. Adler, product tickets PROCEDURES Readiness (20 minutes): 15. Gather students to the reading rug by calling on ‘quiet seats’ to reinforce proper attentive

behavior. 16. Read the book, “Prices go up, prices go down” Book by David A. Adler [Explains in simple

terms the concept of supply and demand with examples of how prices are derived and the conditions that contribute to setting them up].

17. Explain to them that you received all of their job applications yesterday and that they have been hired at a workplace. Reminder: everyone should be happy they got a job, so there should be no complaints.

18. Distribute envelops to each student and instruct them to open them. 19. Call students back to their assigned table based on the job they received, students should then

go to the table with their “co-workers”. 20. Each business starts with a beginning balance of $10, give each group $10 of fake money. 21. As a group they will review their Product List which can be accessed via their laptop under

Excel (Resource #3). Give students two minutes to adjust the prices if they would like — they should only be adjusting prices $1-2.

22. Distribute Resource #4: Predictions. They should fill out the sheet with their best guess of what will occur in the simulation.

Focus (20 minutes): 23. Instruct students that they are to have three people stay at their business during the simulation:

one clerk who handles transactions, one worker who keeps track of stock via the Excel file—**give this student the product tickets to give to a customer when they purchase an item**, and

one salesman who greets and assists customers. The remaining co-workers have the day off and get to shop at other businesses.

24. Set the timer for ten minutes (it may take less time if all of the products sell out). Students will run their businesses or go shopping. Ensure that everyone is doing their role.

25. Give each customer $30 of fake money. 26. When the timer goes off, allow the students three minutes to debrief with their teams and

discuss their experiences 27. Afterwards, distribute Resource #5: Reflection for students to complete. Closure (10 minutes): 28. Instruct students to return to their desks by calling on the businesses who are being the quietest. 29. As a class, discuss the relationship of supply and demand by asking: “What did you notice

when you had plenty of products?” “What did you notice when you were running low on products?” “When was demand the highest?”

30. Ensure that students know the definition of supply and demand by writing it down in their notebook.

ASSESSMENT: 31. Check student’s verbal and written explanation of supply and demand. Assess how well

students were able to use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support.

DIFFERENTIATION: Students can be challenged more by providing details on their Prediction Worksheet on what will happen when the products are priced both lower and higher. Students who struggle with written expression can type their answers on the Prediction and Reflection Worksheets or verbally tell the teacher. TECHNOLOGY: Laptops or iPads, SmartBoard, calculators SOURCE: Laura McGuire

High-Tech Toy Shop

Product Price In Stock

NERF Blaster $22 2 Frozen DVD $16 2

Used Smart Phone $20 4

Ski Resort

Product Price In Stock

Hot Cocoa $2 3 Boots $25 3

3 Cookies $2 2

Surf Shop

Product Price In Stock

Swimsuit $20 3 Sunscreen $8 2

Noodle $4 2

Predictions 1. If you are running low on products, how will that affect sales?

2. If every item is priced extremely high, what may happen?

3. If there is plenty of products in stock, what may happen?

Reflection

1. How much money did your business earn?

2. Did you run out of any products?

Workers: What happened when your business was running low on a product? Customers: What happened when there was only a limited amount of a product and you really wanted it? In your own words…

What is supply?

What is demand?

LESSON PLAN 3 Name: Laura McGuire Grade: 4 Topic: Saving and Investing MISSOURI GRADE LEVEL EXPECTATIONS Economics E.4.A.4.a Compare and contrast saving and financial investment. Tools of Social Science Inquiry TS.7.B.4.a Use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON OUTCOMES Each student will compare and contrast saving and financial investment. Each student will use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON SUMMARY Students will listen and participate in activities during the PowerPoint presentation on saving and investing. Then, as a business, they will decide how much to invest. Finally, students will prove their understanding by filling out a Venn diagram. MATERIALS/RESOURCES Resource #6 (Powerpoint), Resource #7 Venn Diagram PROCEDURES Readiness (15 minutes):

1. “After people have saved some of their income, they must decide how to invest their savings so it can grow over time. Some people choose to only save and not invest. Today we will learn about saving and investing; you will learn what is best for your business.”

2. Access Resource #6 PowerPoint and go over the slides with the students. 3. On Slide #5 say, “What do you notice about this chart?” “Did their money always increase?”

“Why did it decrease” “Good, as you can see, sometimes investments earn money and sometimes they lose money; this is why they can be risky.”

4. On Slide #8 say, “What do you notice about this chart?” “How is it different than the investing chart?” “Did anyone lose money?”

Focus (10 minutes): 5. “Now that you have learned about saving and investing please get into your businesses. As a

group you will decide how much of your money you will save and how much you will invest—you must have the money in order to be able to invest it.”

6. “Send an email to me with the dollar amount of how much and what company you are investing—you can choose to invest in Apple or McDonald’s.”

7. Tomorrow you will receive an email stating if your investment earned or lost money”. 8. Give the students four minutes to decide how much to invest.

Closure (20 minutes): 9. Using the PowerPoint as a resource, instruct students to fill in the Resource #7 Saving and

Investing Venn Diagram; turn in. 10. “Today, we learned about saving and investing. Remember, it is always smart to save money.

Investing can be great when you get a return, but remember, it is always risky.”

ASSESSMENT: 32. Check Venn Diagrams for accuracy in comparing and contrasting saving and financial

investment. Informally assess that each student will use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support.

DIFFERENTIATION: Students can be challenged more by determining the amount of money after an investment in the chart on the PowerPoint. Alternatively, those who are struggling can use a calculator to determine the answers, and many students will rely on the teacher to assist with this new math concept. TECHNOLOGY: Powerpoint Resource #6 SOURCE: Laura McGuire and https://www.moneyinstructor.com/wsp/riskrw.asp

LESSON PLAN 4 Name: Laura McGuire Grade: 4 Topic: Profit and Loss/ Regions MISSOURI GRADE LEVEL EXPECTATIONS Economics E.4.A.4.c Explain the relationship of profit and loss in economic decisions. Geography EG.5.F.4 Identify different kinds of regions in the United States and analyze how their characteristics affect humans (history, economy, governance, society, and today’s culture). Tools of Social Science Inquiry TS.7.B.4.a Use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON OUTCOMES Each student will explain the relationship of profit and loss in economic decisions. Each student will identify different kinds of regions in the United States and analyze how their characteristics affect humans (history, economy, governance, society, and today’s culture). Each student will use visual tools and informational text to interpret, draw conclusions, make predictions, and communicate information and ideas with guidance and support. LESSON SUMMARY After discovering if their business made a return on investment, students will determine if they made a profit or loss. Then, they will decide which region best fits their business. MATERIALS/RESOURCES Resource #8 Profit/ Loss, Resource #9 Region Descriptions, Resource #10, and Socrative Exit Slip PROCEDURES Readiness (10 minutes): 33. “Class, please check your email for a notification on your investment.” 34. Teacher Note: ensure that two out of three groups did not get a return on investment, in order to

highlight the fact that investments are risky. 35. “As you can see, only one group received a return on their investment. This means that there is

no guarantee when you invest your money. Sometimes it can be great, but it is always risky.” 36. Distribute Resource #8 Profit/ Loss and instruct students to fill it out. 37. “Now that you know how much you lost or gained, please calculate your starting amount and

ending amount on the worksheet” 38. If you ended with more money than what you started with, you made a profit. If you ended

with less money, you have a loss. 39. For more information, students can read about profit and loss at:

http://www.teachingkidsbusiness.com/business-basics-profit.htm Focus (29 minutes): 40. “Some of you made a profit and some of you had a loss. Now, you get the opportunity to

choose the location of your business to help increase sales.” 41. Students will now begin the process of deciding a region that best fits their business. Play this

video: https://www.youtube.com/watch?v=pDLVrSldPb8 The Regions Song that will introduce or refresh their memory of the five regions.

42. Distribute Resource #10 and tell students to fill out Part One. 43. Instruct students to group themselves by their business and distribute Resource #9. 44. Instruct students to read through the different kinds of regions in the United States and analyze

how their characteristics affect their business. 45. They should also visit 4thgradeunitedstatesregions.weebly.com for additional details, such as

climate of regions. 46. Instruct students to finish Part Two of Resource #10 which will help students guide their

thinking on this economic decision of where their business will be located. 47. Finally, instruct students to make a final decision on the location of their business and be

prepared to defend why.

Closure (10 minutes): 48. Have students come to the front rug. 49. Call on one member from each business to share why they chose a specific region. 50. Exit Slip: https://b.socrative.com/teacher/#live-results/question/3

“Explain the relationship of profit and loss in economic decisions.” ASSESSMENT: 51. Check student exit slips for their accuracy in explaining the relationship of profit and loss in

economic decisions. Assess students’ ability to identify different kinds of regions in the United States and analyze how their characteristics affect humans (history, economy, governance, society, and today’s culture) by assessing Resource #10.

DIFFERENTIATION: Students can be challenged more by asking them to choose a region that does not fit well with their business and why. Students who need additional help can be assisted in finding an appropriate region— for example, the teacher can explain the effects weather can have on a business. TECHNOLOGY: Exit Slip: https://b.socrative.com/teacher/#live-results/question/3 SOURCE: Laura McGuire

Profit or Loss Profit: a financial gain Loss: less money than beginning amount Beginning Balance on Day One: $10 Balance after Sales on Day One: Balance after Investment: Beginning Balance on Day One: Final Balance: Profit or Loss:

Northeast Region:

• Contains part of the oldest mountain range in our country, The Appalachian Mountains

• The Appalachian Mountains run from Georgia through Maine and further north into Canada.

• Along the coast the Northeast is more hilly and rocky.

• Further west, you can find better farmland.

Southeast Region:

• The Appalachian Mountains begin to flatten towards the east and form into the Atlantic Coastal Plain.

• To the west, there are plains leading into the Gulf of Mexico from Louisiana and Mississippi.

• You can also find the Mississippi Rivers and Red Rivers flowing through the region.

• Great farmland in Arkansas and Louisiana

• Mammoth Cave system in Kentucky- the WORLD's largest!

Midwest Region

• Large areas covered with forests

• Flat, grassy plains

• Some rolling hills, Ex. Smoky Hills in Kansas

• Big rivers- Mississippi, Ohio, and Missouri

• Great Lakes- Lake Erie, Lake Huron, Lake Michigan, Lake Superior (large bodies of salt water)

Southwest Region

• 4 states

• Beautiful deserts and canyons

• Home of the Grand Canyon!

• Part of the Rocky Mountains run through the Southwest region

West Region

• Full of all different types of landforms!

• Highest landform- Mt. Mckinley in Alaska

• Lowest landform- Death Valley in California

• Coastal Mountains border the Pacific coast

• Beaches along the Pacific coast

• Fertile, green valleys in Oregon and California

• Western Oregon and Washington have lots of forests

• Includes Alaska and Hawaii

Part One: What type of place do you think your

business would thrive in?

What would the weather be like?

Part Two: We chose ____________________________. We chose this because _____________________________________________.

LESSON PLAN Name: Laura McGuire Grade: 4 Topic: Shark Tank Businesses MISSOURI GRADE LEVEL EXPECTATIONS Economics E.4.A.4.a Compare and contrast saving and financial investment. Economics E.4.A.4.b Explain supply and demand. Economics E.4.A.4.c Explain the relationship of profit and loss in economic decisions. Tools of Social Science Inquiry TS.7.B.4.b Create products such as maps, graphs, timelines, charts, models, diagrams, etc. to communicate information and understanding. LESSON OUTCOMES Each student will compare and contrast saving and financial investment, explain supply and demand, and explain the relationship of profit and loss in economic decisions. Each student will create products such as maps, graphs, timelines, charts, models, diagrams, etc. to communicate information and understanding. LESSON SUMMARY Students will demonstrate their understanding of the unit through explaining key terms while presenting their business to Shark Tank. MATERIALS/RESOURCES Resource #11 PowerPoint Shark Tank Template, Resource #12 Rubric, and laptops/ chrome books PROCEDURES Readiness (10 minutes):

1. Instruct students to come to the front rug.

2. Explain that throughout the week they have been learning about supply and demand, profit and loss, regions, and saving and investment through the experience of running a business.

3. “Today is the final day of the unit. You and your group will show your understanding of all of

the topics learned by convincing the sharks from Shark Tank to invest in your company!” Teacher Note: You may want to show your students a clip from Shark Tank via YouTube to show them how it works.

4. “When you get with your groups, you will get out a laptop, and find the PowerPoint file

Shark Tank Presentation. Here you will find a template for the presentation you will present at the end of class.”

5. “All of the information and instructions you need is on the PowerPoint, ask me if you have any further questions.”

Focus (25 minutes):

6. Now, please go meet with your groups and begin to fill out the presentation. Once it is filled out, you may practice presenting.

7. Allow each group to use the Smart Board and present their business to the Shark, the teacher.

8. Teacher Note: Assess students via the rubric while they present.

Closure (5 minutes): 9. “Great Job with the presentations for Shark Tank!”

“We all did a great job of learning the key concepts: supply, demand, profit, loss, saving, and investing.”

10. *Use this opportunity to engage in a group discussion on the week. Students can share their

experiences with each other while the teacher uses questioning strategies to encourage deeper thinking. For example, “If you could go back in time, what is something you would change about your business and something that you would keep doing?”

ASSESSMENT: Students will be assessed via the rubric, Resource #12, and how well they compare and contrast saving and financial investment, explain supply and demand, explain the relationship of profit and loss in economic decisions, and create products such as maps, graphs, timelines, charts, models, diagrams, etc. to communicate information and understanding. DIFFERENTIATION: Some groups may need additional teacher assistance in creating their PowerPoint. Allow students to use notecards if that helps them in presenting. TECHNOLOGY: Not included. SOURCE: Laura McGuire

Research Project : Shark Tank Rubric

Teacher Name:

Student Name: ________________________________________

CATEGORY 4 3 2 1

Supply and Demand

Clear explanation of supply and demand and their relationship and relates it back to the simulation.

Explains supply and demand and their relationship.

Explains supply and demand.

Does not explain supply and demand.

Profit or Loss

Explains the relationship of profit and loss in economic decisions and explains why their business made a profit or loss.

Explains the relationship of profit and loss in economic decisions.

Explains profit and/or loss.

Does not explain the relationship of profit and loss in economic decisions.

Saving and Investing

Compares and contrasts saving and financial investment and explains reasoning behind choosing to invest or save.

Compares and contrasts saving and financial investment.

Explains saving and/ or investment.

Does not compare and contrast saving and financial investment.

Region

Identifies region in the United States and analyze how their characteristics affect humans (economy), and explains why they chose that region for their business.

Identifies region in the United States and analyze how their characteristics affect humans (economy).

Identifies a region in the United States.

Does not identify region in the United States and analyze how their characteristics affect humans (economy).

Product Communicates Understanding

The final product thoroughly communicates information and understanding of all of the concepts.

The final product communicates information and understanding of most of the concepts.

The final product communicates information and understanding of some of the concepts.

The final product does not communicate information and understanding of any of the concepts.

Date Created: Dec 02, 2015 09:34 pm (CST)

NERF Blaster

NERF Blaster

Frozen DVD

Frozen DVD

Used Smart Phone

Hot Cocoa Boots

Used Smart Phone

Used Smart Phone

Used Smart Phone

Hot Cocoa Hot Cocoa

Boots Boots 3 Cookies 3 Cookies

Swimsuit Swimsuit Swimsuit Sunscreen

Sunscreen Noodle Noodle