Summary
Economics involves concepts that are difficult for 1st graders to understand. The First Grade Marketplace makes Economics come to life for the students. Over the course of the project, students explore what Economics means. They explore the difference between needs/wants, goods/services, producers/consumers, and buyers/sellers. Students research advertisements and explore why they are important. During the study, students will work in teams to research, plan, and create a booth to open at the First Grade Marketplace. Students will be responsible for naming the booth and deciding upon 2 goods(1 food) and a service to sell at the Marketplace. Students will advertise in the form of a poster and a commercial.
TIPC Ratings
This lesson falls in the Approaching range for Research and Information Fluency. Students generated their own questions to help guide their research through the use of a class KWL Chart. The research tools are provided for the children – magazines, computers (pebblego.com), and video clips of commercials selected by the teacher. For at home research, students were asked to pay attention to commercials that air during their favorite television shows. The students used the information gathered from research to create and advertise goods and services to sell to their classmates.
This lesson falls in the Ideal/Target range for Communication and Collaboration. The students worked in small collaborative groups and had to communicate effectively in order to be successful in opening their booth at the Marketplace. Students decided upon a name for the store/booth. Teams must decide upon 2 goods and service that they believe will be in demand at the Marketplace. Students collaborate to create 2 forms of advertising – a poster and a commercial. The teams work together to create a commercial and film the advertisement. Students watch the commercials and have the opportunity to reflect upon what they have seen. Was the advertising effective? Will others want to buy the products? What would you change if you could do the commercial again?
This lesson falls in the Ideal/Target range for Critical Thinking and Problem Solving. Students had to work together to decide upon 2 goods and 1 service that they wanted to sell at the Marketplace. Not all groups agreed on what would be the best sellers; however, they had to think criticially and come to a decision as a team. Students used the iPads to record commercials to advertise their goods and services. Students had to make choices and think critically as they shopped within the marketplace. Students had limited money to spend and had to decide how they wanted to spend their money. After shopping and selling at the Marketplace, teams were given the opportunity to reflect on the sale. (What sold the most?, Why do you think it sold the most?, Would you change your goods or services if we did this again. Why?)
This lesson falls in the ideal/target range for creativity and innovation. In preparing for the Marketplace, children were given materials, but came up with their own ideas for creating goods and services. The teachers facilitated, but did not influence or suggest ideas to the children. Through the process children learned that they needed to tap into their skills and talents in order to make attractive goods and services. Students were creative as they named the booth, created goods and services, and developed advertisements for the Marketplace.
Student Artifact
Download Files
First Grade Marketplace
Contents:
- Lesson Plan
- Student Research Document
- Student Planning Document
- Sample of Student Planning Document
- Blog Link