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Reflection and Assessment

Lesson 4:

From Unit Time, Talent, Treasure, and Economics

Lesson

Handouts

Academic Standards

Philanthropy Framework

3rd-5th Grade

Subjects:

Library / Technology, Philanthropy and Social Studies

Key Words/Concepts click to view

ELA:	Narrative Writing; Writing Mechanics; Writing Process
PHIL:	1 genOn; 11 genOn; Service Project
SOC:	12 genOn; Decision Making Model; Opportunity Costs; Production/Producer; Trade

Purpose:

The students will write, illustrate and publish individual books describing the volunteer opportunity and their knowledge of philanthropic and economic concepts.

Duration:

One to Two Forty-Five Minute Class Periods

Objectives:

The learner will:

identify the opportunity costs in personal decision making situations.
explain a personal choice.
distinguish between natural resources, human capital, and capital equipment in the production of a good or a service.
describe how they act as a producer.
trace the origin of clothing items and the possible trade flows that brought them to the United States.

Materials:

Storybook Guide (see Attachment One)
Storybook Templates (see Attachment Two)
Vocabulary (see Attachment Three)
Paper
Crayons/markers
World Maps (small)
Displayed charts from previous lessons
Vocabulary

Handout 1: Storybook Guide
Handout 2: Storybook Template
Handout 3: Vocabulary

Instructional Procedure(s):

Anticipatory Set:
Tell the children that today they will each write, illustrate, and publish a book about the service learning project.

Give the students the Storybook Guide (see Attachment One), the Storybook Template (see Attachment Two), and, if necessary, Vocabulary (see Attachment Three). Go over each and answer any questions.
Have the students complete the assignment independently referring to the charts, decision making model, and vocabulary when necessary.

Assessment:

This storybook serves as the final assessment of the student's understanding of the economic concepts as they apply to the chosen service learning project. A rubric is included for scoring.

Lesson Developed By:

Shellie Ellison
Munising Public Schools
Central Elementary School
Munising, MI 49862

Handouts:

Handout 1Print Handout 1

Storybook Guide

You must spell words correctly and be neat.
Use the charts, decision-making model, and vocabulary list to help you.
Make a cover. Put the title of your story and your name on it. Illustrate it.
Page 1: Fill in the blank and illustrate your sentence.
Page 2: Fill in the blanks and draw the model.
Page 3: List everything we needed to complete the project under the correct headings.
Page 4: Fill in the blanks and illustrate your sentences.
Page 5: Draw a line on the map to show the possible trade flow route for your piece of clothing. Label the continents and countries involved.
Page 6: Fill in the blanks and illustrate your sentences. Make sure you show yourself in this picture.
Page 7: Illustrate the sentence and fill in the blanks.
Page 8: Fill in the blanks.
Put the pages in order and staple your book together.

Handout 2Print Handout 2

Storybook Template

Page 1

What was the need (problem)?

Page 2

We had choices.

We used a to help us make our decision. It looked like this:

I voted for

because                                                                .

My opportunity costs were                                                         .

Our class voted for                                                                 .

Page 3

Everything We Needed

Natural Resources	Human Capital	Capital Equipment

Page 4

I brought .

It was made in .

Page 5

This is probably the trade flow route that brought it to the United States.

Page 6

We produced our

in a                                                                style.

My specialty was                                                                .

Page 7

Now our project is complete. It looks like this.

The best part about the project was                                                                                                                                               .

The part I didn't like was                                                                                                                                               .

I learned                                                                                                                                              .

I feel                                                                                                                                               .

Page 8

We helped fill the need by producing a

for .

Handout 3Print Handout 3

Vocabulary

Assembly line: in many factories, an arrangement whereby each worker performs a specialized operation on the work as it is passed along from one to another.
Capital equipment: goods made by people and used to produce other goods and services. (Intermediate goods).
Choice: what someone must make when faced with two or more alternatives.
Consumers: people whose wants are satisfied by using goods and services.
Decision: the act of making up one's mind.
Division of labor: the process whereby workers perform only a single task or very few steps of a major production task, as when working on an assembly line.
Goods: objects that can be held or touched that can satisfy people's wants.
Human capital: the quantity and quality of human effort directed toward producing goods and services (labor).
Labor-work Markets: any setting where buyers and sellers exchange goods, services, resources, and currencies.
Natural resources: "Gifts of nature" that are present without human intervention.
Opportunity cost: the next best alternative that must be given up when a choice is made. Not all alternatives, just the next best choice.
Production/producers: people who use resources to make goods and services (workers).
Services: Activities that can satisfy people's wants.
Specialize: to make specific or particular
Trade flow: a model showing the interactions between households and business firms as they exchange goods and services and resources in markets.