Slide 1

Slide 2

Yum-onomics: The Economics of Yummy Childrens Literature Presented by: Deborah Kozdras dkozdras@usf.edudkozdras@usf.edu Website: http://yumonomics.comhttp://yumonomics.com

Slide 3

Why Economics? http://vimeo.com/6268631?ab Three Little Pigs book Free at project Gutenberg http://www.gutenberg.org/files/18155/18155-h/18155-h.htm http://www.gutenberg.org/files/18155/18155-h/18155-h.htm http://vimeo.com/6268631?ab

Slide 4

3 Little Pigs + 6 Big Principles = Economic Thinking http://www.kidseconposters.com/i mages/6core.swf

Slide 5

Thinking Like an Economist http://www.econedlink.org/interactives/index.php?iid=13 7&type=educator

Slide 6

1: People Choose We always want more than we can get and productive resources (human, natural, capital) are always limited. Therefore, because of this major economic problem of scarcity, we usually choose the alternative that provides the most benefits with the least cost. The little pigs wanted productive resources. They chose different natural resources. Human resources were scarce. Two pigs chose the alternative that provided benefits with the least cost to their free time. What were the benefits of spending more time and effort? What were the costs of spending less?

Slide 7

Slide 8

Slide 9

2: All Choices Involve Costs The opportunity cost is the next best alternative you give up when you make a choice. When we choose one thing, we refuse something else at the same time. The opportunity cost was the next best alternative the pigs gave up when they made their choices. What alternatives did they choose? What was the opportunity cost for the straw and stick pigs?

Slide 10

3: People Respond to Incentives The brick pigs incentive was that he wanted to use the best resources and spend time to make the strongest house. What were the other alternatives he could have chosen? Think about the social, moral, or economic incentives the pigs had. Incentives are actions, awards, or rewards that determine the choices people make. Incentives can be positive or negative. When incentives change, people change their behaviors. Incentives can be economic, social, or moral. http://www.econedlink.org/interactives/inde x.php?iid=119&type=educator

Slide 11

4: Economic Systems Influence Individual Choices and Incentives. People cooperate and govern their actions through both written and unwritten rules that determine methods of allocating scarce resources. These rules determine what is produced, how it is produced, and for whom it is produced. As the rules change, so do individual choices, incentives, and behavior. What were the unwritten rules of allocating scarce resources in the story? What economic system do we generally use in the United States when we trade with other countries? Go to page 3. When the bank rules change, how might the choices, incentives, and behavior change for pigs?

Slide 12

5: Voluntary Trade Creates Wealth People specialize in the production of certain goods and services because they expect to gain from it. People trade what they produce with other people when they think they can gain something from the exchange. This is self interest. Some benefits of voluntary trade include higher standards of living and broader choices of goods and services. List the different specializations of production of goods and services. How could the other two pigs benefit from voluntary trade? If the little pig decided to specialize in building brick houses, how could he gain?

Slide 13

6: The Consequences of Choices Lie in the Future. Economists believe that the cost and benefits of decision making appear in the future, since it is only the future that we can influence. Sometimes our choices can lead to unintended consequences. What are the costs and benefits of the pigs decisions? What were the unintended consequences for the pigs? What are some possible consequences?

Slide 14

Three Little Pigs Econ-cepts: Pg 92. Natural resources, human resources, capital resources, scarcity, trade-offs Brick, Wood, or Siding activity (p. 94) Three Little Pigs book Free at project Gutenberg http://www.gutenberg.org/files/ 18155/18155-h/18155-h.htm http://www.gutenberg.org/files/ 18155/18155-h/18155-h.htm Write letter to pigs/BBW (p. 95) Use ReadWriteThink letter generator http://www.readwritethink.org/classro om-resources/student- interactives/letter-generator- 30005.html http://www.readwritethink.org/classro om-resources/student- interactives/letter-generator- 30005.html

Slide 15

Lemonade War Econ-cepts: beginning of every chapter http://www.lemonadewar.com/ Lesson: Kids Econ Posters http://www.kidseconposters.com/keb/Title%20List% 20Poster%20Set%20B/Supply%20and%20Deman d/Lemonade%20for%20Sale.htm http://www.kidseconposters.com/keb/Title%20List% 20Poster%20Set%20B/Supply%20and%20Deman d/Lemonade%20for%20Sale.htm Play the lemonade stand game http://www.lemonadestandgame.c om/ http://www.lemonadestandgame.c om/ Watch http://www.youtube.com/watch?v= MUcpCB7Wls8 http://www.youtube.com/watch?v= MUcpCB7Wls8

Slide 16

Hare & Tortoise http://etc.usf.edu/lit2go/contents/100/0143/0143.html

Slide 17

Slide 18

Slide 19

Money, currency, trade

Slide 20

I, Pencil & Productive Resources "I, Pencil: My Family Tree as told to Leonard E. Read" I am a lead pencilthe ordinary wooden pencil familiar to all boys and girls and adults who can read and write Simple? Yet, not a single person on the face of this earth knows how to make me. This sounds fantastic, doesn't it? Especially when it is realized that there are about one and one-half billion of my kind produced in the U.S.A. each year. Pick me up and look me over. What do you see? Not much meets the eyethere's some wood, lacquer, the printed labeling, graphite lead, a bit of metal, and an eraser. My family tree begins with what in fact is a tree, a cedar of straight grain that grows in Northern California and Oregon The logs are shipped to a mill in San Leandro, California http://www.commonsenseeconomics.com/http://www.commonsenseeconomics.com/ under Really Cool Stuff, click Fun Readings to find.pdf and audio of I, Pencil

Slide 21

Merchant of Venice Merchant of Venice William Shakespeare Entrepreneurship and Profits The Renaissance was a time of economic development. Fortunes could be made or lost through shipments from distant ports http://etc.usf.edu/lit2go/titl e/m/merchant.htmlhttp://etc.usf.edu/lit2go/titl e/m/merchant.html Antonio was a merchant and ship owner who tried to diversify his risks. He knew that he regularly risked losing everything he owned through the loss of a large shipment. However he also finds out that love and friendship carry risks and rewards; these could be harder to bear than loss of income (A quay in Venice, Antonio, Salerio, and Solanio approach, talking together)

Slide 22

Wuthering Heights Wuthering Heights Emily Bront Self Interest and Economic Systems We must be for ourselves in the long run. Love ends when circumstances cause each one to feel that ones interest is not the chief consideration in the others thoughts. http://etc.usf.edu/lit2go/titl e/w/wh.htmlhttp://etc.usf.edu/lit2go/titl e/w/wh.html Catherine had seasons of gloom and silence, now and then; they were respected with sympathizing silence by her husband, who ascribed them to an alteration in her constitution, produced by her perilous illness, as she was never subject to depression of spirits before. The return of sunshine was welcomed by answering sunshine from him. I believe I may assert that they were really in possession of deep and growing happiness.

Slide 23

Text Consumer to Text Producer

Slide 24

Little Red Hen Econ-cepts: Capital Resources, Human Resources, Natural Resources, Entrepreneurship Have you ever worked hard on a project and no one would help? You have something in common with LRH! Econedlink lesson http://www.econedlink.org/lessons /index.php?lid=389&type=educato r http://www.econedlink.org/lessons /index.php?lid=389&type=educato r Econedlink flash story http://www.econedlink.org/interacti ves/EconEdLink-interactive-tool- player.php?filename=Little_Red_H en.swf&lid=389 http://www.econedlink.org/interacti ves/EconEdLink-interactive-tool- player.php?filename=Little_Red_H en.swf&lid=389 Compare and contrast Little Red Hen (Makes a Pizza) with the original from Project Gutenberg http://www.gutenberg.org/ebook s/18735 http://www.gutenberg.org/ebook s/18735 Rebus story of Little Red Hen http://www.enchantedlearning.c om/stories/fairytale/littleredhen/s tory/ http://www.enchantedlearning.c om/stories/fairytale/littleredhen/s tory/ Florida DOE lesson plan- includes stick puppets. www.fldoe.org/earlylearning/pdf/ TheLittleRedHenLessonPlan.p df www.fldoe.org/earlylearning/pdf/ TheLittleRedHenLessonPlan.p df

Slide 25

Digital Responses Using the concepts, students can create their own digital story with images and text

Slide 26

Little Red Hen Use ReadWriteThink Printing Press to create advertisements for bread or workers Use the ReadWriteThink circle plot diagram to trace the circular flow of resources

Slide 27

Little Red Hen Use ReadWriteThink Book Cover Creator to create book covers that elaborate on the economics concepts in book. Use ReadWriteThink comic creator to talk about econ-cepts

Slide 28

Click Clack Moo: Cows That Type People make choices because of scarce resources: What was scarce? What choices did the cows make? The famer? What were the consequences of the farmers decision? How did the cows respond to the incentive of blankets? The literacy rate in Farmer Brown's barn goes up considerably once his cows find an old typewriter and begin typing. To the harassed farmer's dismay, his communicative cows quickly become contentious: Dear Farmer Brown, The barn is very cold at night. We'd like some electric blankets. Sincerely, The Cows When he refuses to comply with their demands, the cows take action. Farmer Brown finds another note on the barn door: "Sorry. We're closed. No milk today." Soon the striking cows and Farmer Brown are forced to reach a compromise, with the help of an impartial party--the duck. But this poor, beleaguered farmer's "atypical" troubles are not over yet! http://www.kidseconposters.com/keb/Title%20List%2 0Poster%20Set%20A/Economic%20Wants/Click%20 Clack%20Moo%20Cows.htmhttp://www.kidseconposters.com/keb/Title%20List%2 0Poster%20Set%20A/Economic%20Wants/Click%20 Clack%20Moo%20Cows.htm http://pbskids.org/lions/cornerstones/click/story/hyper text/http://pbskids.org/lions/cornerstones/click/story/hyper text/

Slide 29

For More Info http://yumonomics.com