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Play dough Economics - Play

VIEWS: 220 PAGES: 48

  • pg 1
									McKinney ISD
October 18, 2010
President
Texas Council on Economic Education (TCEE)
www.economicstexas.org
Laura@economicstexas.org
713-655-1650
•   Economics
•   Personal Financial Literacy
•   Investor Education
•   Student Activities
•   www.economicstexas.org
•   Cheryl McGaughey – Angelo State
    University
•   Steven Cobb – University of North Texas
•   Jean Walker – West Texas A&M
•   Alberta Davila – University of Texas Pan
    American
•   Phyllis Gilbert – Steven F. Austin State
    University
•   Germaine Gray – Texas Southern University
•   Stock Market Game
•   Economics Challenge
•   Economic Extravaganza:
       February 1 - Children’s Museum of Houston
       February 2 - Federal Reserve of Dallas-Houston Branch
•   All Events are listed at www.economicstexas.org
•   Team Fees vary
•   10 week live simulation
•   Virtual $100,000
•   Trade stocks, bonds and mutual funds
•   Grades 4 – 12
•   InvestWrite Competition
•   Houston/Dallas: Merrill Lynch
•   Valley: Brownsville Herald
            Valley Morning Star
            Harlingen Area Teachers Credit Union
            Valley Federal Credit Union
            Estrada Hinojosa
•   El Paso: FirstLight
•   Austin area: Fidelity Investments
•   San Antonio: Cabrera Capital Markets, LLC
•   Version 4 coming soon
•   79 publications, 1200 lessons
•   28 publications, 221 lessons for
    grades K - 5
•   500 economic terms
1.   Primary Grades: Wants and Needs, Taking Care of
     Basic Wants and Needs, Goods and Services, People
     make economic choices, Importance of Jobs, the
     difference between Producing and Consuming
2.   3-5: Understand the purposes of Spending and Saving
     Money, Scarcity, Free Enterprise System, Supply and
     Demand, Concept of Free Market, Profits and how
     business operates, Texas Economy
What kind of good
or product can you
make?
cookies                   Someone washes your clothes
Wash your family car      Take the bus to school
Eat pizza for lunch       Bakery makes cakes
Teacher teaches           Cafeteria person makes your lunch
reading
Buy clothes for school    Buy play dough
Peanut butter and jelly   Someone repairs your toy
sandwich
Productive Resources
  Oh what, oh what will our country produce?
          Oh what, oh what will it make?
With its natural and capital and human resources,
          Oh what, oh what will it make?

   Oh how, oh how will our country produce?
          Oh how, oh how will it work?
With its natural and capital and human resources,
          Oh how, oh how will it work?

 For whom, for whom will our country produce?
        For whom, for whom will it work?
With its natural and capital and human resources,
        For whom, for whom will it work?

                             The Econ Song Book
                             Old Tunes with an Economics Twist
                             By Martha C. Hopkins
Goods, goods, goods are things that we make and use.
              We’re buying and selling
               And buying and selling
               Any goods we choose.

   Services are things we do that other people use.
               We’re buying and selling
               And buying and selling
               Services that we choose.

                              The Econ Song Book
                              Old Tunes with an Economics Twist
                              By Martha C. Hopkins
Begin:
Why do people produce goods or services?

If you have only $100, what are several things you want
or need to buy that would each cost $100?
How does the concept of scarcity fit with why people
      work and what people choose to buy?
Hamburger or Pizza
Because every person and country experiences scarcity, we
have to make choices.

At lunch you can afford to buy a slice of pizza or a
hamburger. If you choose the pizza, then the opportunity
cost is the hamburger. Opportunity cost is the best single
alternative not chosen.

Consumer choice always has an opportunity cost

OC is not the sum of various alternatives not chosen
1.   What is a producer?

2.   What type of play dough product could you
     make for our class store ?
Why should other students buy your product?
  Describe your product to the class

How did you use natural substances, capital, human
  labor to produce your product?
What are your top three choices for products?

What is your second choice?

Which of these products will be your opportunity cost?
What does this mean:
Every choice has a cost
         Examples
What are the main things
we have learned about OC
     as a consumer?
• What you give up
• Choices have costs
• Only one item is the OC
• What are the main
  points of OC for a
  producer?
•   TCEE Opportunities
•   TEKS Correlations
•   Scarcity
•   Opportunity Costs
Program Director
Texas Council on Economic Education (TCEE)
www.economicstexas.org
Catherine@economicstexas.org
713-655-1650

								
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