Unit 3: People and Money
Embedded Files
Impact Chapter: 5
ReadyGen Alignment: Module 3A/B
Text Alignment: The Winner's Choice, Hunter's Money Jar
Text Alignment: Goods and Services and Supermarket
Unit Overview: Why do people work?
In this unit on economics and personal financial literacy, students will delve into the world of goods, services, jobs, and making choices about money. They will learn about the different types of businesses in their community and the goods and services they produce. Students will also explore various job choices held by family members and individuals in their local community, comparing the benefits and costs of different jobs. Additionally, they will discuss ways to earn or receive money and understand the types of currency used in transactions. By the end of this unit, first-grade students will have gained an understanding of goods, services, jobs, and making choices about money.
Prepared Graduates:
Evaluate how the allocation of scarce resources in societies through analysis of individual choice, market interaction, and public policy.
Apply economic reasoning skills to make informed personal financial decisions (PFL).
Grade Level Expectation(s):
3: Economics and 5: Personal Financial Literacy
Understand that individuals work in different types of jobs to earn an income. (3.1)
Plan how to spend, share, and save money (PFL). (5.1)
The highlighted evidence outcomes are the priority for all students, serving as the essential concepts and skills. It is recommended that the remaining evidence outcomes listed be addressed as time allows, representing the full breadth of the curriculum.
Students Can (Evidence Outcomes):
Identify the goods and/or services that different types of businesses produce in the community. (3.1.a)
Give examples of different types of jobs held by family members and/or individuals in the local community. (3.1.b)
Compare at least two different job choices that individuals have with respect to the benefits and costs of each job. (3.1.c)
Discuss ways to earn or receive money. (5.1.a)
Identify types of currency and how currency is used. For example: Cash, coins, credit card, and debit card. (5.1.b)
Define types of transactions such as deposit, purchase, donate, borrow, and barter. (5.1.c)
Identify coins and find the value of a collection of two coins. (5.1.d)
Colorado Essential and Nature of Skills
Ask questions to learn more about careers and other life pursuits (Career Awareness). Demonstrate an understanding of cause and effect related to personal decisions such as jobs (Self-Awareness).
Consider how to earn, spend, share, and save money knowing funds in any scenario are limited (Critical Thinking and Analysis). Determine different choices they can make with their money and how those choices may affect others (Critical Thinking and Analysis). Demonstrate curiosity, imagination, and eagerness to learn more (Creativity/Innovation).
Economic thinkers investigate the influence of different jobs and businesses in their community.
Financially capable individuals understand that financial goals can be met through planning. For example: An individual divides income between current expenses, saving for the future, and philanthropic donations.
Inquiry Questions
How are businesses different?
What are the different types of jobs and their roles in a community?
Why do people choose different jobs?
How does an individual earn money?
What are different methods of payment?
Are all items purchased with money?
How do charities, non-profits, and other organizations help a community?
Disciplinary, Informational, and Media Literacies
Apply disciplinary concepts, such as decision-making, to determine the benefits and costs of a particular choice.
Compare the benefits and costs of individual choices.
Identify positive and negative incentives that influence the decisions people make.
Explain the role of money in making exchange easier.
Academic Vocabulary and Language Expectations
goods, service, producers, trade, consumer, volunteers, needs, wants, scarcity
Possible Assessments:
Inquiry Project from Chapter 5
Lesson Tests (1-5) and Chapter Overview Assessment Chapter 5
Instructional Resources & Notes:
Chapter 5 from Impact
Research Companion
Inquiry Journal
Explorer Magazine
Supplemental Resources
Junior Achievement: Lessons
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