Economics Unit

Unit Information

Full Unit
Topic 1
Topic 2
Topic 3
Topic 4

Economics Unit

Topic 1: What is money?
1. What does money represent?
2. What is barter?
3. Why do we use money instead of trading for what we want?
4. What are wants and needs?
5. What are goods and services?

Topic 2: How do people earn money?
1. What are jobs?
2. What are different types of jobs?
3. How do people get and keep jobs?
4. What is an entrepreneur?
5. What is supply and demand?

Topic 3: Where do people keep the money they've earned?
1. What is a bank?
2. What is a check?
3. What is a debit card?
4. What is a credit card?
5. What is a checking account?
6. What is a savings account?

Topic 4: How do people manage their money?
1. What is a budget?
2. What are my needs and wants?
3. How do I make decisions on how much to spend?
4. What happens if I spend more money than I make?

Economics Standards

SS.3.E.1.1: Give examples of how scarcity results in trade.
SS.3.E.1.2: List the characteristics of money.
SS.3.E.1.3: Recognize that buyers and sellers interact to exchange goods and services through the use of trade or money.
SS.3.E.1.4: Distinguish between currencies used in the United States, Canada, Mexico, and the Caribbean.
Links and Activities

Budget Buzz
Social Studies for Kids
Scholastic Economics
Vermilion Economics
Mrs. Mitchell's Economics
Rutgers Economics
CoolMath - Lemonade Stand
ClassBrain - Lemonade Stand
OMSI - Lemonade Stand


BrainPop - Banking
BrainPop - Budgets
BrainPop - Comparing Prices
BrainPop - Credit Cards
BrainPop - Debt
BrainPop - Money

BrainPop Jr. - Goods and Services
BrainPop Jr. - Need and Wants
BrainPop Jr. - Saving and Spending

School House Rock - Dollars and Sense
School House Rock - The Check's in the Mail
School House Rock - $7.50 Once a Week
School House Rock - Where the Money Goes
School House Rock - This for That