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Virtual Economics

PRINT LESSONS:

Lesson 3: Similarities and Differences Around The World
The International News Journal, Inc.
In this lesson students analyze the information on eight selected countries presented in Lesson 2 and discuss the similarities and differences among the countries.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Natural resources, goods, resources, Wants

Lesson 2: Characteristics of Countries
The International News Journal, Inc.
The primary purpose of this lesson is to help students identify resources around the world. Students examine a world political map and complete a Mystery Almanac activity sheet. They read several clues, sets of facts about selected countries, and then identify each country. The students then complete an information Resource Chart summarizing the information presented in the activity sheets.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Labor resources, National resources, Products, Resources, Services, Wants

Lesson 4: Trading Partnerships Around The World
The International News Journal, Inc.
In this lesson students use information from Lesson 3 to analyze trading relationships among the eight countries being studied. The class discusses trade, then the imports and exports of the eight countries.
Grade(s): 3-5, 6-8
Concepts: Exports, Imports, International marketplace, Trade

Lesson 5: International Trade
The International News Journal, Inc.
In this lesson students participate in a simulation. They form groups, each group representing a country, and perform tasks to meet the wants of each country. Because resources are unevenly distributed, students must trade to satisfy their wants. A discussin follows the simulation. Students reflect on the distribution of resources in a world of relative scarcity.
Grade(s): 3-5, 6-8
Concepts: Choice, Interdependence, Scarcity

Lesson 6: Individuals Benefit From Trade
The International News Journal, Inc.
In this lesson expand their concept of trade through a trading experience. Students bring an item from home to trade for something they want more. A classroom trading activity allows trade agreements to be made and economic wealth to be created.
Grade(s): 3-5, 6-8
Concepts: Trade, Wealth

Lesson 1: The Development of the International News Journal, Inc.
The International News Journal, Inc.
This lesson provides a general overview of the activities in The International News Journal, Inc. The students read a cartoon story which summarizes the program. The cartoon story is in five parts representing the actual parts of the program and the activities in which students will participate.
Grade(s): 3-5, 6-8
Concepts: Choice, Corporation, International, Production, Marketplace, Resources, Trade, Wants

Chapter 3: Lesson 17 - How the People of Churchill Came to Be Fond of Polar Bears
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Incentives, Profit

Chapter 3: Lesson 13 - Why Throw Away the Lunch Your Mom Made?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Decision Making/Cost-Benefit Analysis

Chapter 3: Lesson 14 - Why Did the English Colonies Prosper?
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Property Rights, Trade Exchange and Interdependence

Chapter 3: Lesson 15 - Mariah Visits a Petting Zoo
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Profit

Chapter 3: Lesson 16 - The Big Piggy Bank Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Profit, Saving and Investing

Lesson 7: Trade Among Businesses
The International News Journal, Inc.
In this lesson students discuss the resources used in the production of a specific product -- Hershey's Kisses. In addition, students locate the countries that provide resources to the manufacturer and discuss ways people are dependent on other countries for the resources needed to make products they want and enjoy.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Entrepreneur, Export, Human resources, Import, Natural resources

Lesson 8: Comparative Advantage
The International News Journal, Inc.
In this lesson students assume the role of workers in three countries. Each country has a advantage in producing a particular product. Through participation in the activity, students learn that countries have a comparative advantage in the production of certain products. Discussion and analysis follow the simulation.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Comparative advantage, Human resources, Natural resources, Opportunity cost, Specialization, Trade

Lesson 15: Board of Directors and Corporate Officers
The International News Journal, Inc.
In this lesson the board of directors meets with the corporate officers to help make production decisions. The board also helps the officers choose the kind of news journal, estimate the cost of producton, determine the price and quantity of news journals to produce, and decide on the number and price of share of stock. Students observe and learn from the decision making, complete and activity s...
Grade(s): 3-5, 6-8
Concepts: Demand, Market, Price, Profit, Stock, Supply

Lesson 16: Selling Stock
The International News Journal, Inc.
Students review the concept of stock issued by a corporation and learn how to be good salespeople by role playing a sales speech. They discuss the steps for selling stock.
Grade(s): 3-5, 6-8
Concepts: Corporaton, Dividend, Stock

Lesson 17: Review of Corporations
The International News Journal, Inc.
In this lesson students review what they have learned about corporations by completing a writing activity.
Grade(s): 3-5, 6-8
Concepts: Corporaton, Dividend, Stock

Lesson 18: Topics For The News Journal
The International News Journal, Inc.
In this lesson students review news magazines to decide on some topics consumers might like to read about in a new journal. Students discuss various topics and decide which topics might make a balanced and interesting news journal. They then decide which topics to research.
Grade(s): 3-5, 6-8
Concepts: Choice, Corporation, Opportunity cost

Lesson 14: Organizing The Corporation
The International News Journal, Inc.
In this lesson students (entrepreneurs) decide who the officers of the corporation will be and who will be invited to bo on the board of directors.
Grade(s): 3-5, 6-8
Concepts: Corporation, Entrepreneur

Lesson 13: Business Ownership
The International News Journal, Inc.
In this lesson students learn about three types of business ownership -- sole proprietorship, partnership, and corporation -- with the focus on corporations. An activity sheet checks their understanding of th purpose and organization of a corporation.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Corporation, Dividend, Entrepreneur, Natural resources, Human resources, Partnership, Profit, Sole proprietorship, Stockholders

Lesson 9: What The U.S. Imports
The International News Journal, Inc.
In this lesson the students discuss the types of products the United States imports from Japan and other countries. They also participate in an activity to find examples of Japanese products available for sale in the United States.
Grade(s): 3-5, 6-8
Concepts: Comparative advantage, Choice, Exports, Imports, Trade

ONLINE LESSONS:

online All In Business
This is the third in a series of lessons on entrepreneurship. "Entreduction" and "Improving on the Original" help students understand what innovations are, and what it takes to get an idea off the ground. This lesson will take students through the process of calculating risks associated with starting a new business -- the decisions and choices they'd have to make and how to...
Grade(s): 6-8
Concepts: Choice,Decision Making,Entrepreneurship,Incentive

online Why Work Now?
Why do people work so hard? Why aren't you just assigned a job that you are interested in and get paid as much as the next guy? This lesson will show you why employers want the best workers that their money can buy!
Grade(s): 3-5, 6-8
Concepts: Human Resources,Human Capital,Investment

online Improving on the Original
What makes something worth marketing? This lesson focuses on the distinction between marketing a new product or licensing it to someone else to market.
Grade(s): 6-8
Concepts: Entrepreneurship

online Fill 'er up, Please
Americans drive more than 2.6 trillion miles per year, that's 14,000 round trips to the sun! And for the most part, these vehicles are all running on gasoline. For many of us, we watch the price of gas as closely as the price of a gallon of milk, or the price of a movie ticket. This activity provides the students an opportunity to learn how gas prices are created and what are the component...
Grade(s): 6-8
Concepts: Choice,Consumers,Decision Making,Demand,Incentive,Markets,Price,Producers,Supply,Taxation

online Coming and Going: Imports and Exports Throughout the World
Students will study various imports and exports to and from different regions in the world. They will then compare the imports and exports to determine the importance of each.
Grade(s): 6-8
Concepts: Exports,Imports

online One is Silver and the Other's Gold
Students learn about the money supply and that it can affect the value of money. Students investigate this in the 1896 presidential election (Bryan vs. McKinley, Free Silver vs. Gold Standard) and examine a political cartoon that depicts how some people felt about this issue. Students answer questions about what they would do with more money and what might happen if the money supply increa...
Grade(s): 6-8, 9-12
Concepts: Functions of Money,Inflation,Money Supply,Price,Role of Government,Deflation

online Lemon Squeeze - The Lemonade Stand
Everyone has at one time or another opened a lemonade or Kool-Aid Stand. What a great place to begin an economics lesson. Students can taste test three brands of lemonade and compare prices with taste – is the most expensive the best? Using a reader’s theater students will construct a supply and demand schedule and can create a bar or line graph to demonstrate market interactio...
Grade(s): 3-5, 6-8
Concepts: Demand,Equilibrium Price,Markets,Price

online Taxation without Representation?
This lesson will take students through the series of tax acts that were enacted by the British government and disputed by the original 13 colonies of America prior to the American Revolution. Students will discuss the concept of government-provided services in exchange for taxes. Students will explain the specific taxes and the right of the English government to levy them in the context of...
Grade(s): 3-5, 6-8
Concepts: Economic Freedom,Exports,Government Expenditures,Government Revenues,National Debt,Role of Government,Taxation,Imports

online Why Adopt a Highway?
Students learn about the successful Adopt-a-Highway program and how it can save governments and taxpayers money.
Grade(s): 6-8
Concepts: Advertising,Opportunity Cost,Role of Government

online Q T Pi Fashions - Learning About Credit Card Use
Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
Grade(s): 6-8, 9-12
Concepts: Choice,Consumer Economics,Consumers,Credit,Decision Making,Incentive,Interest Rate,Money Management

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