TeachersFirst's Understanding Economics and Money: TeachersFirst Editors' Choices
Understanding how world economic systems work can mystify even the experts, but all of us need to understand the basics of how an economy functions, especially as current events challenge us to adjust to tough times. Today's students and teachers must try to translate the language of financial gurus and the news media in a meaningful and personal context.
This collection of resources has been hand-picked by the editors of TeachersFirst from among our many reviewed resources on economics and money. These selections were chosen to help students (and families) grasp basic economic principles, personal financial planning, and banking at an age-appropriate level.
To complement these resources on the "facts" about economics, TeachersFirst's partner site, TeachersAndFamilies, offers this article and activities to help children and teens handle the feelings and stresses of tough economic times and to mitigate the toll these times can take on families. By understanding the feelings of children and teens and by helping them build age-appropriate knowledge, teachers and families can ease the strain of the tough times we all face together.
We hope you will share these resources with your colleagues and school parents by emailing this page or sharing the link.
View our entire collection of resources related to economics.
Grades5 to 12
In the ClassroomHave students work in cooperative learning groups, divide up the vocabulary words, and have each group find the definitions for their assigned vocabulary words. Have the groups share their words and definitions in an online book, using a tool such as Bookemon, reviewed here. Have the groups share the online books on your interactive whiteboard or projector. If you don't have the time to complete online books, have students share the definitions using a class wiki. Be sure to also check out the interactive word puzzles!
Grades6 to 12
In the ClassroomUse the lesson ideas at this site to help your students understand economics. Take advantage of the free teaching guides and student worksheets.
Grades8 to 12
In the ClassroomThere are many ways to incorporate this website into your plans and help your students prepare for their financial futures. Download entire units to use with your class. There are countless activities presented with each unit. An economics class could focus on one new unit each week (or even month). Download (and print) copies of the unit. Have students work in cooperative learning groups to read through the units and complete the activities. Enhance classroom technology by asking student to take notes about what they learn using Webnote, reviewed here; tell students to be sure to save the URL to share their notes and questions with you and their peers.
Grades1 to 6
In the ClassroomGet some basic ideas at this site. Everything here is quick and simple. You will want to supplement with other information about the economy and money.
Grades6 to 12
tag(s): financial literacy (107)
In the ClassroomIf your students are starting to use credit cards, share this site on your interactive whiteboard or projector.
Grades4 to 12
In the ClassroomThere are countless options and ideas about how to use this site in your classroom. Share the interactives on your projector or interactive whiteboard. Take advantage of the FREE lesson plans to teach your students about money and the economy. Use the free, standards-aligned lessons in sequence or on an individual basis. If financial literacy is not part of your Common Core Standards for math, think about making the activities and/or games a weekly center or activity on the computers in your classroom or the school computer lab. Also, look through the videos listed to see if there are any that are age appropriate for your students.
GradesK to 12
Examples of topics for the K-5 students include Shortages and Surpluses, Consumers/Consumption, Functions of Money, and countless others. Grade 6-8 topics include Role of the Government, Unemployment, Economic Growth, and many others. Some of the higher level topics for grades 9-12 include Circular Flow, Market Failures, Federal Reserve, and much more! Many of the topics include more than one lesson plan or classroom activity. A few of the topics are "under construction" as new material is constantly added.
In the ClassroomTake advantage of these ready to go lesson plans at all grade levels. Anyone who teachers social studies or economics can easily find an appropriate lesson plan (linked to standards). Use these lessons to help students understand the economy, learn new vocabulary words, and deepen their understanding on money.
Grades7 to 12
tag(s): financial literacy (107)