Holiday Economics Lesson Plan

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Academic Standards

 

Reading Objective:

Children will distinguish between goods and services as they follow the path of a holiday gift.

 

Social Studies Focus:

economics

 

ELA Skills:

details, writing, vocabulary

 

Page 4 Skill:

vocabulary

 

Vocabulary:

economics, goods, service

 

CCSS:

RI.2.1, RI.2.4, RI.2.10, L.2.1, SL.2.3

 

Guided Reading Level:

L

 

Lexile Level: 

520L

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Download California State Standards
Download Common Core Standards

Provide students with some background on economics.

Build background knowledge (10 min.)

Watch our video "Be an Economics Expert." After children have finished watching the video, discuss the following questions:

  • What are goods? (things that people make or grow)
  • What are services? (things that people do for others)
  • What is the difference between a need and a want? (Needs are things you can’t live without; wants are things that are just nice to have.)

Preview vocabulary (3 min.)

Next, play the online vocabulary slideshow. This issue’s featured words are economics, goods, and service.

Set a purpose for reading (5 min.)

  • Pass out the issue, and discuss the cover. Explain that a big part of economics is goods and services.
  • Next, read the As You Read prompt on page 3: “Think about the difference between goods and services.” Encourage children to think about this prompt as they read.

Read together (20 min.)

Pass out the Read and Think printable. Use it to check comprehension as you read the issue together, pausing to ask the questions. 

  • Use the online game show to gauge comprehension and reinforce the issue’s content. Students can play by themselves or in teams. For each question they answer correctly, they win a point.

You can use our printable worksheets to focus on important ELA skills. Here’s how.

Exit Ticket: Show What You Learned (5 min.)

  • Use our new Show What You Learned printable as a quick exit ticket! It asks students to revisit the As You Read prompt after they are done reading. If you are teaching remotely, this page is a great way to check students’ comprehension.

ELA Focus: Vocabulary (15 min.)

  • Use the Word Work printable to deepen students’ understanding of the words economics, good, and service.

Editor’s Pick: Act Out Economic Scenarios (15 min.)

  • The Act It Out cards provide students with practical economic dilemmas on a level they can understand. The activity can be done as a class or in small groups.
  • Cut out the cards and read a scenario aloud. Students can get up and act it out, or they can talk about it. The situations presented should lead to some very interesting discussions!

Social Studies Focus: Economics (15 min.)

  • The Needs or Wants skill sheet asks students to differentiate between the things they can’t live without and things that are nice to have but not necessary for survival.

Here are two past issues you can use to extend your lesson on goods and services:

  • The Scoop on Ice Cream, May 2020. In this issue, SN2 visits a factory to see how a very popular good is made—ice cream!
  • Holiday Rush Delivery, November/December 2017. This issue follows the path of a different present—a homemade necklace. Will it get there in time for the party?

You can find a higher-Lexile-level and a lower-Lexile-level version of the article online here:

  • Higher Lexile level: 540L
  • Lower Lexile level: 460L