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| Your Action Plan for Teaching Economics and Personal Finance in Middle School
You're hearing a lot about economics this year, and maybe you're wondering "What if my students understood economics? Would it make a difference in their high school studies? In college? In life?"
 Download this GuideAbsolutely. You can give your students an early start on making wise economic and financial decisions, with just a few activity-based lessons. It's a small investment today, that will make a big impact in the lives of your students.
Here is a list of tips and resources to help you infuse Economics and Personal Finance into your curriculum...
(Tip: You may want to print out this guide; it will save time and you can easily refer to it in the future; you can also download a PDF).
Action Step #1: Training, It's Good for You
Top performers -- athletes, business professionals, artists -- are always improving their skills, so they can reach their peak potential.
Teaching is no different.
Make it a goal to attend an economics and personal finance professional development workshop this year. You'll not only expand your knowledge of economics and personal finance, but you'll also network with your peers and return to your classroom with new-found energy and enthusiasm.
Where to Find Training
Not sure where to start?
Why not ask your department chair, principal, district curriculum director... a fellow teacher? Most likely, they will have advice on local, national and even online training opportunities.
Don't forget you can find economic and personal finance workshops through the Council for Economic Education's university-based network of Centers for Economic Education. Just click on your state, find your nearest Center and contact them to get a list of workshops in your area.
Can't attend face-to-face training? With budget cuts and time constraints, it's a common challenge today.
You can also find online teacher training through the Council for Economic Education. These online training modules take you behind-the-scenes of the Council's most popular programs. You'll explore content and find out how to teach it to your middle school students. You'll watch videos of teachers using the lessons with their students. Plus, seasoned economic educators will show you how to deliver the lesson plans for maximum impact.
Call us toll-free at 800-338-1192 and our friendly staff will help you find the economic and personal finance training you need.
Action Step #2: Get (Even More) Comfortable with Economics
After you've received training, it's time to expand your knowledge base and keep your skills sharp.
Pay close attention to the economics in your daily life -- in the news, discussions among your students and friends, in your own household.
Teach the World Around You
Economics is, literally, all around you, isn't it? Look at the daily news: economics dominates the headlines, day after day. And I'll bet your students are talking about economics... and their parents... and your fellow teachers... well, you get the picture.
How can you use these headlines and once-in-lifetime events as teachable moments? The Handy Dandy Guide to Economic Reasoning, from the Great Economic Mysteries series, is a quick and easy way to introduce your students to economics.
With only 15-30 minutes of effort and using common "mysteries," you'll start building an economic foundation that shows your students how economics plays a role in their daily lives.
There's even a 'Guide to Writing Your Own Mysteries,' which encourages you to monitor headlines and craft your own economic mysteries. It's pretty simple, give it a try.
Teaching Tip: Think Like An Economist (It's Okay, Really)
Action Step #3: If You Buy One Resource, Make It Virtual Economics
How would you like to have your own economics and personal finance coach on call, 24 hours a day, 7 days a week?
Virtual Economics is your private tutor -- mentor, coach, confidant, call it what you will -- for teaching economics and personal finance.
This CD-ROM (you didn't think it was an actual person, did you?) helps you understand how to:
- teach 51 economic and personal finance concepts
- build your vocabulary (which you can also use with your students)
- find activity-based lesson plans to demonstrate the concepts to your students
- correlate lessons to your state economic standards
Activity-based Lessons, From Planning to Delivery
Imagine if you could attend a seminar and discover the latest strategies and techniques for teaching economics and personal finance to middle school students. Virtual Economics gives you on-going training, support and -- most importantly -- the tools to confidently teach economics and personal finance in your classroom.
You'll also leverage technology to make your lesson planning easier. Virtual Economics makes it easy to plan, find and deliver a memorable lesson for your students.
Teaching Tip: Be the Economics and Personal Finance Ace in Your School
Resource: Virtual Economics CD-ROM
Video Demonstration: How a teacher uses Virtual Economics for lesson planning -- Watch Video
What It Does: Virtual Economics helps you plan, find and deliver economic or personal finance lessons.
What Makes It Unique: You use technology to build your economic and personal finance knowledge base, and search a database of lesson plans by keyword, publication and state content standard.
Action Step #4: Leverage the Grades 6-8 Economics Package
What if you used activity-based lesson plans, simulations and group projects to increase student participation in your classroom? Chances are, your students would pick up the concepts quite a bit faster.
The Grades 6-8 Economics Package is the easiest, most affordable way to add economics to your curriculum. Best of all, you'll give your middle school students a basic foundation in the terminology and principles they will need to succeed in their high school courses... and in life.
You'll harness the power of three popular print-based programs:
Your Students Learn by Doing
Here's something that's fun and easy to try: start teaching basic economic concepts with hands-on activities and role-playing exercises.
Your students will learn best by doing, right? And it takes some of the instructional burden off you, at the same time.
So, have them roll up their sleeves and jump start their economics learning with Play Dough.
Have your students create Play Dough products to sell and trade in the classroom. Watch while your students sculpt Play Dough baseball bats, Play Dough baseballs, Play Dough hats and Play Dough flowers... the possibilities are endless.
What else are they doing? They're thinking like producers, like entrepreneurs.
Next, have them walk around the classroom and purchase items from their fellow classmates (with play money, of course); you've just helped them understand their roles as consumers.
See how easy that was? And your students just mastered important concepts like production, opportunity cost, scarcity and natural resources.
A perfect guide for getting started with hands-on economic fun is Play Dough Economics. These activity-based lessons are correlated to National Content Standards and are a way to seamlessly adds economics principles to your everyday instruction.
You'll also find literature connections that reinforce concepts and strengthen your students language arts skills. Helpful pre-tests and post tests will help your students "Play" on track.
Teaching Tip: Teach Economics with the Ultimate Hands-on Activities
Resource: Play Dough Economics
Sample Lesson: Opportunity Cost: Part I – Consumers (PDF, includes recipe)
What It Does: Students use "capital" to produce a sculpture.
What Makes It Unique: Your students use sculpting clay to create a good, trade and identify their opportunity costs.
So now that your students rolled up their sleeves and have an understanding of basic economic concepts, how do they apply these principles to the real-world?
Challenge your students to take an in-depth look at economics with activities, simulations and projects from Focus: Middle School Economics.
This helpful teacher guide explores the 6 roles your students will play in the economy (producers, consumers, workers, etc.). It shows them how to make decisions and choices, and infuses advanced concepts like supply and demand, trade barriers, and GDP into your instruction. Students even track their learning progress in a journal.
Teaching Tip: Activity-based Lessons Make Your Life A Whole Lot Easier
After you've prepared your students for real-world decision-making, take them outside of the classroom and on a journey around the globe. (Don't worry, you won't actually be leaving your classroom...)
With an increasingly interdependent economy, it's important to understand how trade figures into the products we purchase and own.
Take a sweet and chocolatey Hershey Kiss: where does it come from? Your first instinct is probably "good ol' Hersey, Pennsylvania," but the Hershey Kiss is really a product of global exchange.
The Hershey Corporation trades goods from all around the world to produce just one Hershey Kiss. The cocoa beans come from tropical regions; the sugar comes from plantations in Cuba; and the aluminum comes from countries like Canada, China, Japan and even the US.
This is just one of the action-packed lesson plans you'll find in Wide World of Trade. You'll not only give your students a global economics perspective, you'll also reinforce important skills like teamwork, problem solving and critical thinking.
Resource: Wide World of Trade
Sample Lesson: Something's in the Way
What It Does: Your students create postcards to demonstrate specialization and trade.
What Makes It Unique: Your students create goods, define concepts and analyze the results of a simulation.
Action Step #5: Infuse Economics Into Other Subject Areas
You'd like to teach economics, but maybe you're wondering how you can fit it into your required courses.
A strong knowledge of economic concepts will help students become better decision-makers, giving them the ability to tackle tough decisions as business owners, consumers and producers.
But can this economic foundation also help them save our environment?
Teach More Content, With Less Work
Explore hot-button environmental issues in your classroom with an easy-to-understand teacher guide like Economics and the Environment: Ecodetectives. This resource is packed with mystery-based lesson plans and activities that give your students a whole new perspective on the environment around them.
Teaching Tip: Use Economics to Explore the Environment
Beat the time crunch during the year and combine two important subject areas into one: give your students a solid understanding of economics through mathematics problems and equations.
Create a math and economics curriculum with Mathematics and Economics: Grades 6-8. This lesson plan teacher guide applies mathematical problem solving in the context of economics, using real-world scenarios.
Teaching Tip: Why Do Twice the Work? Combine Multiple Disciplines Into One Lesson
Resource: Mathematics and Economics: Grades 6-8
Sample Lesson: Could You Earn a Million Dollars
What It Does: Your students explore the relationship between earnings and education.
What Makes It Unique: Your students analyze and organize data, calculate earnings and make correlations.
You're probably wondering at this point... how many other subjects can possibly involve economics? Well read on, because geography is no longer just about "where is the Sahara Desert, and what is its climate and vegetation?"
Next time you look at a map, make sure the first thing your students see is economics.
After all, resources, climate and location are essential to understanding the economy. Geography establishes a location's resources, which in turn dictates what goods and services are produced.
Geography also plays a role in why people move, and how the different rules and laws of each region affect economic freedom.
Use Focus: Middle School World Geography to sprinkle your geography curriculum with economics. This helpful classroom guide is filled with reproducible maps, data, charts, graphs, tables, documents and more.
Teaching Tip: There's More to Geography than a Map
Resource: Middle School World Geography
Sample Lesson: Why Do People Move?
What It Does: Students use U.S. Census data to analyze why people move.
What Makes It Unique: Your students read and analyze data, weigh costs and benefits and draw conclusions.
Action Step #6: Avoid the Financial Mistakes of the Past
It's never too early to start teaching key personal finance skills. When your students learn personal finance skills at an early age, they are more likely to understand concepts quicker; learn healthy spending and saving habits from the get-go; and prepare for a sustainable financial future.
Start with the Basics
Financial Fitness for Life is a complete personal finance program that covers:
- Earning an income
- Saving
- Spending and Credit
- Money Management and Budgeting
You can use the program to pick-and-choose select lessons, or you can use all the lessons as a comprehensive curriculum.
Teaching Tip: Don't Just Invest in the Market, Invest in Student Success
Action Step #7: Grab Some Face Time in the Computer Lab
Okay, so far you've used technology to plan, find and deliver in-class lessons (with Virtual Economics), and you've looked at a number of supplemental, print-based lesson plans (everything from the Grades 6-8 Economic Package to science, mathematics and geography, to Financial Fitness for Life).
But your students are pretty "wired," aren't they? Chances are they spend a lot of time online, or at least they're itching to. Here's your chance to supplement your print-based lessons with computer-based activities...
Find Free Lessons at EconEdLink.org
With EconEdLink.org, you'll have access to over 95 free middle school economic and personal finance lesson plans.
And your students will always be "doing" things, like:
- Reading articles
- Analyzing online data sources
- Listening to audio
- Watching video
Some teacher highlights you'll find on EconEdLink.org include:
These lessons will not only give you practical, interactive online lessons, they will also help your student build and fine-tune their computer-literacy skills. And because the students are working at their own pace, EconEdLink.org gives you a chance to spend one-on-one time with your students... not to mention stake your claim in the computer lab.
You don't need to use all of these resources, just find the one -- or ones -- that fit your teaching style and meet your instructional goals.
If you have any questions about these resources, give us a call and we'll explain them in more detail: 800-338-1192.
Good luck, we hope this year is your best teaching year ever!
© Council for Economic Education
About the author:
Troy D. White is the Senior Director of Sales and Marketing for the Council for Economic Education, where he travels around the U.S. helping K-12 teachers find economic and personal finance lesson plans for their classrooms. He can be reached at twhite@councilforeconed.org or 212-730-1791.
Special thanks to Martina Krivankova, Kathy Miles and Sean Tubridy for their contributions.
You may post, share and distribute this article, as long as you don't change its content. Please provide the following attribution: Courtesy Council for Economic Education, www.councilforeconed.org
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