Economic Sense - How Do We Develop It?

Introduction
This project was developed as a result of a study of webquests for an Emints professional development session.

The topic of this webquest is economics.  It is a unit developed with 4th through 6th grade students in mind.

Learners
This lesson is designed for fourth and fifth grade students focusing on the subjects of Social Studies and English.  This lesson can be taught as a way to introduce students to the basic economic concepts of supply and demand; goods and services; economic resources; opportunity cost; and savings and investments.  It can also help students practice verbal and nonverbal communication skills and working in groups.

Before beginning this WebQuest students should know and understand:
*Economics is the study of many different components.
*How to work cooperatively in a group.
*How to take notes
*How to use an online dictionary
*How to open files
*How to use a graphic organizer program (Smart Ideas)
*How to use MovieMaker
*How to create a storyboard for MovieMaker

Standards
This WebQuest has been designed to relate to these particular standards found in the Social Studies Grade  and Course Level Expectations for the State of Missouri, fourth grade. 

Economic Concepts and Principles
4.A.a.  Knowledge of economic concepts (including productivity and the market system) and principles (including the laws of supply and demand) A.  Knowledge of basic economic concepts, being able to explain and use them to interpret historical and current events.  a. Compare saving and financial investment.

4.A.b.  Knowledge of economic concepts (including productivity and the market
system) and principles (including the laws of supply and demand) A. 
Knowledge of basic economic concepts, being able to explain and use them
to interpret historical and current events.  b. Explain supply and demand.

4.B.a.  Knowledge of economic concepts (including productivity and the market
system) and principles (including the laws of supply and demand) A. Understanding the consequences of personal and public economic decisions.  a.  Interpret past, explain present and predict future consequences of economic decisions.  (Decisions would be of a nature that is meaningful to fourth graders, such as decisions made by consumers and decisions pertaining to the environment).

4.D.a.  Knowledge of economic concepts (including productivity and the market
system) and principles (including the laws of supply and demand) A. 
Interdependence of households, businesses and governments.  a.  Explain how decisions of households, businesses and governments affect one another.

Tools of Social Science Inquiry
7.A.a.  Knowledge of the use of tools of social science inquiry (such as surveys, statistics, maps and documents)  A.  Identify, select, use, analyze and create appropriate resources, primary and secondar, for social science inquiry.  a.  Identify, select and use visual, graphic, and auditory aids.

7.A.b.  Knowledge of the use of tools of social science inquiry (such as
surveys, statistics, maps and documents)  A.  Identify, select, use,
analyze and create appropriate resources, primary and secondar, for
social science inquiry.  b.  Identify, use and create primary and secondary sources (diaries, letters, people, interviews, journals and photos)

7.A.c.  Knowledge of the use of tools of social science inquiry (such as
surveys, statistics, maps and documents)  A.  Identify, select, use,
analyze and create appropriate resources, primary and secondar, for
social science inquiry.  c.  Identify and use library and media resources (electronic resources, dictionaries, encyclopedias, videos, periodicals, atlases, almanacs, telephone directories, and books)

7.B.a.  Knowledge of the use of tools of social science inquiry (such as
surveys, statistics, maps and documents)  B.  Knowledge to create and use various social studies graphics and maps  a.  Create maps, timelines, diagrams and cartoons to enhance studies in civics, history, economics and geography.

National Education Technology Standards
1.  Creativity and Innovation - Students demonstrate creative thinking, construct knowledge,, and develop innovative products and processes using technology.  Students:
     a.  apply existing knowledge to generate new ideas, products or processes.
     b.  create original works as a means of personal or group expression.

3.  Research and Information Fluency - Students apply digital tools to gather, evaluate, and use information.  Students:
     b.  locate, organize, analyze, evaluate, synthesize, and ethically use information from a variety of sources and media.

4.  Critical Thinking, Problem Solving, and Decision Making - Students use critical thinking skills to plan and conduct research, manage projects, solve problems and make informed decisions using appropriate digital tools and resources.  Students:
     b.  plan and manage activities to develop a solution or complete a project.

Process

Skills the teacher needs to make this lesson meaningful:
*The ability to control a group-learning situation.
*A good understanding of how to use a variety of internet resources.
*A trust of the learner to handle his/her own responsibilities.
*Background knowledge of economic concepts.
*A good understanding of how to use Movie Maker.

The lesson can be completed in about five one hour class sessions.  Students will need this time in order to be able to do their research, decide on a topic, and create their commercial.  Before students begin this WebQuest, they need to be divided into groups of four students each.

When making groups, be sure to consider each student's strengths and weaknesses.  Some students possess better computer literacy skills, some better reading skills, some better writing skills, etc.  Try to make the groups balanced with a variety of skills present in each group.

The WebQuest process itself is outlined in detail on the Student Process page.

Resources
Student worksheets
*Students should take notes on the different topics on the note taking worksheet.
*Use the Production Resource Chart with the Three Little Pigs story.
*Use the commercial planning sheet to map out your commercial ideas.
*Use the commercial checklist to make sure your commercial has relevant information and presents it in a way that is easy to understand.
*Use the story map such as Smart Ideas to organize the script.
*Use the storyboard sheet to organize the elements to create the movie.

Materials
*Computer with movie maker software.
*Clip art pictures or camera for still photos.
*Graphic organizer program (Smart Ideas).

Evaluation Rubric
The grading rubric for this WebQuest, can be viewed on the Student Evaluation page.

It may also be necessary for the students to be graded based on their ability to work as a group.  In considering the scores of each objective, whether or not the group worked together effectively and efficiently should be considered.  If any issues arose with groups working as a team, the individual member who proved difficult should be docked points.  If no one member can be singled out, the group score should reflect lack of ability to work together.

Formative assessments made be made upon the completion of each step.  Students are encouraged to check with the teacher upon completion of each step.  The teacher can do a quick observation and conversation to see if the material was covered.

Conclusion
These lessons are worthwhile because it gives the students valuable lessons in group work, research skills, story telling, and presenting in front of a class.  Educationally, this lesson will help students to understand the basic economic concepts appropriate to elementary students.

Credits and Copyrights
This WebQuest was created by Cathy Nunley, a fourth grade teacher at Cassville Intermediate School, Cassville, Missouri.  This WebQuest was completed to meet the requirements of the eMINTS Comprehensive program for 2nd year teachers.

Image Credits:
Economics Globe.   Microsoft ClipArt Gallery.  Microsoft Corporation.  c 1983-2000.
Cassville Chamber.  (Online) Cassville Chamber