Subject: - Currituck County Schools



|Subject: North Carolina Geography and History |Timeframe Needed for Completion: 4 Weeks |

|Grade Level:4 |Grading Period 4th Nine Weeks |

|Unit Title: Economics and Financial Literacy | |

|Big Idea/Theme: Economics and Financial Literacy |

| |

|Understandings: |

|The basic concepts of a market economy are often dependent on each other. |

|Positive and negative incentives influence behavior in a market economy. |

|Scarcity and choice drive business decisions. |

|Competition among buyers results in higher prices and competition among sellers results in lower process. |

|The role of major industries. |

|Changes in the economy impact levels of employment and unemployment. |

|Financial goals and responsibilities can have benefits and consequences on everyday life. |

|Curriculum Goals/Objectives: |Essential Questions: |

|4.E.1.1 Understand the basic concepts of a market economy: supply and demand, scarcity, | |

|productivity, and entrepreneurship. |Summarize uses of money. |

|4.E. 1.2 Understand how scarcity and choice in a market economy impacts business decisions. |Classify the differences between needs and wants? |

|4.E. 1.3 Analyze the historical and contemporary role that major NC industries have played in the |Recognize values of employment |

|state, nation and world. |Evaluate demands of work force in society. |

|4.E.1.4 Explain the impact of entrepreneurship on the economy of NC. |Analyze individual strengths with regard to job market. |

|4.E.2.1 Explain how personal financial decisions such as spending, saving and paying taxes, can |Evaluate the worth of supporting family. |

|positively and or negatively affect everyday life. |Recognize the value of human resources at school and community. |

|4.E.2.2 Explain how limited personal financial resources affect the choices people make based on | |

|their wants and needs. | |

|Essential Skills/Vocabulary: |Assessment Tasks: |

|Income is money earned from a job. |Harcourt Trade Books |

|People decide on how to spend their money. |Harcourt Social Studies p.215-246 |

|Entrepreneurs are responsible for introducing new products, services and new businesses. |Categorize and classify Jobs – Have students search and study the employment section of a local|

|Supply |newspaper and classify the jobs and industries into categories. |

|Demand |Research an industry in NC and give an oral presentation on your findings. |

|Scarcity |Compare and contrast NC exports and NC imports |

|Productivity |Have students write a plan for a business they would like to own. |

|Capital resources |Have students work in cooperative groups to make a list of businesses in their community. |

|Market economy |Students should then work together to identify relationships among those businesses. Remind |

|NC has major industries that have influenced the world. |students to consider how much each business uses transportation, energy, and water. |

|Consumers | |

|Economy | |

|Textiles | |

|Imports | |

|Exports | |

| | |

|Integration Opportunities: |

|Have kids create a “Kid Friendly” business. |

|Plan a budget: Tell students to imagine that they have $200 to spend on a class picnic. Have students use grocery and other store flyers to plan a budget for the party that includes food, drinks |

|and needed supplies. Encourage students to compare their budgets. |

|Make a collage about economics in NC. Include information about resources, industries, imports, exports, and specialization. |

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