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First Grade - Social Studies
Activities
Something Good
Financial and Economic Concepts: Opportunity Costs
First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people's needs.
- Explain the concept of exchanging money to purchase goods and services
Objective 2: Recognize that people need to make choices to meet their needs.
- Describe the economic choices that people make regarding goods and services.
- Describe why wanting more than a person can have requires a person to make choices.
- Identify choices families make when buying goods and services.
Something Good
By Robert Munsch
ISBN: 1550371002
Time: 50 mins
Materials: Book-Something Good, by Robert Munsch, chalkboard, play money, handouts (in lessonplan)
Tyya's dad won't buy anything good at the store - no ice cream, no candy, no cookies. But when the saleslady puts a price sticker on Tyya's nose, Daddy is finally forced to buy something good.
Read the story, Something Good. Discuss, as a whole group, needs, wants, and choices. Complete a flashcard activity helping students to label wants and needs. In a small group practice counting money and discuss price. Students independently complete “The price is Wrong” worksheet demonstrating an understanding for making choices and counting money.
Complete Lesson Plan (pdf)
Activity (pdf): Discuss the difference between Wants and Needs then have students color pages and circle Want or Need for each item.
Making Choices
Financial and Economic Concepts: Wants and Needs First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people's needs.
- Identify examples of goods and services in the home and in the school.
- Explain ways that people exchange goods and services.
- Explain how people earn money by working at a job.
- Explain the concept of exchanging money to purchase goods and services.
Objective 2: Recognize that people need to make choices to meet their needs.
- Describe the economic choices that people make regarding goods and services.
- Describe why wanting more than a person can have requires a person to make choices.
- Identify choices families make when buying goods and services.
- Explain why people save money to buy goods and services in the future.
Alexander, Who Used to Be Rich Last Sunday
By Judith Viorst
ISBN: 0689711999
Time: 50 minutes
Materials: Book- Alexander, Who Used to be Rich Last Sunday by Judith Viorst, toy catalogs, drawing paper, glue/tape, crayons, play money and the handouts from the lesson.
Although Alexander and his money are quickly parted, he comes to realize all the things that can be done with a dollar.
As a large group, read aloud Alexander, Who Used to be Rich Last Sunday. Discuss his spending decisions, learning about opportunity cost, goods and services, incentives, and savings as you go. Students will independently complete a Making Choices worksheet. Then participate in two small group activities to reinforce the concepts of goods and services and saving and incentives.
Complete Lesson Plan (pdf)
Comprehension Questions (pdf)
Jobs
Financial and Economic Concepts: Career Management/Earning an Income First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people's needs.
- Explain how people earn money by working at a job.
- Explain the concept of exchanging money to purchase goods and services.
Objective 2: Recognize that people need to make choices to meet their needs.
- Describe the economic choices that people make regarding goods and services.
- Explain why people save money to buy goods and services in the future.
Bear About Town
By Stella Blackstone
ISBN: 978-1841483733
Time: 45 minutes
Materials: Bear About Town, by Stella Blackstone, drawing paper, crayons, handout (found in lesson plan)
Read aloud Bear About Town. Discuss the jobs, businesses, tools and uniforms from the story. Students will draw a picture of themselves doing a job, including tools uniform, etc. In a small group, students will learn about earnings, paychecks and spending choices, and complete the Paycheck Spending worksheet.
Complete Lesson Plan (pdf)
Goods and Services
Financial and Economic Concepts: Goods and Services First Grade – Social Studies
Standard 1 (Culture): Students will recognize and describe how schools and neighborhoods are both similar and different.
Objective 2: Recognize and identify the people and their roles in the school and neighborhood. Explain how these roles change over time
- Explain the roles of the people in the neighborhood (e.g., police officer, firefighter, mail carrier, grocer, mechanic, plumber, miner, farmer, doctor, and tribal leader).
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people’s needs.
- Identify examples of goods and services in the home and in the school.
- Explain ways that people exchange goods and services
Time: 45 minutes
Materials: Small index cards, drawing paper and crayons
Using a number of online interactive activities, small and large group discussions and games, students will be able to identify the differences between people who provide goods or services. They will also identify jobs that people do in their community.
Savings Accounts and Interest
Financial and Economic Concepts: Savings First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 2: Recognize that people need to make choices to meet their needs.
- Explain why people save money to buy goods and services in the future.
The Berenstain Bears' Trouble with Money
By Stan & Jan Berenstain
ISBN: 978-0394859170
Time: 45 minutes
Materials: Book- The Berenstain Bears’ Trouble with Money by Stan and Jan Berenstain, chalkboard, play money, drawing paper, crayons, handout (included in the lesson)
Students learn about saving money, banks and interest through the Berenstain Bears’ story, discussion, drawing pictures and the NestEggs and tables worksheet.
The Ant and the Grasshopper
Financial and Economic Concepts: Scarcity and Choices First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people's needs.
Objective 2: Recognize that people need to make choices to meet their needs.
 The Ant and the Grasshopper
One summer’s day, in a field nearby, a Grasshopper was hopping about, chirping and singing to its heart’s content. An Ant passed by, struggling to carry an ear of corn he was taking to his nest. “Why not come and chat with me,” said the Grasshopper, “instead of working so hard?” “I am helping to store up food for the winter,” said the Ant, “and I recommend that you do the same.” “Why bother about winter?” asked the Grasshopper; “we have plenty of food right now.” But the Ant went on its way and continued its work. When winter came the Grasshopper had no food and found itself hungry and weak, while it saw the Ants eating corn and grain every day from what they had collected all summer. Then the Grasshopper knew: It is best to work and save things we will need later. |
Discuss the following questions about “The Ant and the Grasshopper” with students.
- What were the ants saving for? [Food for the winter]
- What did the ants give up? [Time playing or relaxing]
- What was the grasshopper's opportunity cost? [Food for winter]
- What have you had to give up to get something else? [answers will vary]
Opportunity cost: The second-best alternative (or the value of that alternative) that must be given up when scarce resources are used for one purpose instead of another.
Optional Color Page (pdf)
The Ant and the Grasshopper (ppt)
A Gift for Mama
Financial and Economic Concepts: Savings and Financial Investments First Grade – Social Studies
Standard 4 (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs.
Objective 1: Explain how goods and services meet people's needs.
Objective 2: Recognize that people need to make choices to meet their needs.
A Gift for Mama
by Esther Hautzig
ISBN: 0-1403-8551-7
In this lesson, students read a story about a young girl named Sara. Sara has always made gifts for her family for special occasions. For Mother's Day, Sara decides she wants to buy a gift for her mother. After reading and discussing the story, students will create a booklet in which they've illustrated Sara's short-term savings goal and their own short-term savings goal.
Materials:
A Gift for Mama, by Esther Hautzig,
a copy of Activity 1 (pdf), for each student,
scissors and five pieces of tag board for each student,
tape and art supplies
Activity 1 (pdf)
