Council for Economic Education

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NOTE: This standards correlation tool has the exact same functionality as the CD-ROM. However, to obtain the print lessons you'll need to purchase the CD-ROM.

Lesson 14: Orange Juice Jubilee
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The simulation is a two-lesson unit designed to serve as a culminating activity for the review of economic concepts taught in the pervious thirteen lessons.
Grade(s): 3-5
Concepts: Division of labor, Decision making, Productive resources, Human capital, Interdependence, Market economy, Supply, Demand, Price, Collateral, Interest, Entrepreneurship,

Lesson 13: Mind Your P's and Q's
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
Market-clearing prices and quantities exchanged can change if fluctuations in demand or supply or both occur. Demand and supply will change when the non-price determinants change. How these changes affect the equilibrium price and quantity exchanged in the market are described below.
Grade(s): 3-5
Concepts: Changes in market equilibrium,

Lesson 9: A Cracker Jack Lesson
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
The basic consumer problem is how to achieve maximum satisfaction given limited resources. Consumers see many goods and services they want to buy, but constraints force them to choose. Many factors influence consumer decisions, such as personal preferences, prices, and convenience.
Grade(s): 3-5
Concepts: Price, Consumer, Costs of production, Profit,

Lesson 10: The Pencil Choice
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson the students assume the role of consumers and choose among three pencils. They discuss wants, acceptable substitutes, and other factors that influence consumer decisions such as price, personal satisfaction, and knowledge of alternatives.
Grade(s): 3-5
Concepts: Choice, Opportunity cost, Price,

Lesson 11: Market Balance
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
The market (price) system answers the basic economic questions of what, how, and for whom to produce in the marketplace. The demand decisions of consumers and the supply decisions of producers interact to establish prices and quantities exchanged. Demand and supply analysis is useful to explain how a price system guides these decisions.
Grade(s): 3-5
Concepts: Market, Market equilibrium, Shortage, Surplus,

Lesson 6: Circles within Circles
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
A market is a setting in which people buy and sell goods and services and resources. A market economy is an economic system in which most goods, services, and resources are exchanged by private households and businesses. Prices are determined by buyers and sellers making exchanges in private markets. Americans live in a market-oriented economy.
Grade(s): 3-5
Concepts: Goods, Services, Resources, Market, Income, Revenue, Consumers, Producers, Profit,

Lesson 12: Market Madness
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
The market (price) system answers the basic economic questions of what, how and for whom to produce in the marketplace. The demand decisions of consumers and the supply decisions of producers interact to establish prices and quantities exchanged. Demand and supply analysis is useful to explain how a price system guides these decisions.
Grade(s): 3-5
Concepts: Market equilibrium, Shortage, Surplus,

Unit 4: Lesson 17 - Markets and Exchange
Choices & Changes: In Life, School, & Work - Grades 2-4 - Teacher's Resource Manual
Students will feel empowered when they make voluntary exchanges.
Grade(s): K-2, 3-5
Concepts: Market,

Lesson 22: Production Questions
Exploring the Marketplace: The Community Publishing Company - Teacher Resource Manual
In this lesson you and your class discuss the production questions that must be answered before a classroom book can be produced. As owners of the publishing company, your students must discuss how much people will pay for the book and how many books should be produced.
Grade(s): 3-5
Concepts: Business, Consumer, Entrepreneur, Marketplace, Market survey, Partnership, Price, Profit,

Lesson 2: What? How? For Whom?
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
An economic system is the way society organizes the production and consumption of goods and services. Every economic system answers three basic economic questions: What to produce? How to produce? And For who to produce. How a society answers the three basic economic questions determines the society's economic system.
Grade(s): 3-5
Concepts: Economic system, Basic economic questions,

Theme 3: Lesson 10 - Why Do I Want All This Stuff?
Financial Fitness for Life: Steps to Financial Fitness - Grades 3-5 - Teacher Guide
In this lesson, students learn about various types of advertising appeals, such as bandwagon, celebrity endorsement, and authority endorsement. They analyze ads to decide the audience to which the ad is targeted, the type of advertisement appeal used, and the facts and opinions included in the ad. Students create a display of ads.
Grade(s): 3-5
Concepts: Consumer, Price, Advertising, Tastes and preferences,

Lesson 11: Those Golden Jeans
Master Curriculum Guides in Economics: Teaching Strategies - 3-4
Supply and demand are concepts that students can easily understand when the concepts are demonstrated with products familiar to them. The Law of Demand states that consumers are willing and able to buy less of a product at higher prices and more of a product at lower prices. The demand curve is a graphic representation of the quantity of a product consumers are willing and able to buy at differe...
Grade(s): 3-5
Concepts: Supply, Demand, Consumer, Businesses, Price, Equilibrium price, Shortage, Surplus,

Lesson 14: Inflation - When All Prices Rise
Play Dough Economics
In this lesson, students will learn that inflation is an increase in the general price level of goods and services caused by the supply of money increasing relative to the supply of goods and services; that an incease in money income does not necessarily mean an increase in one's ability to acquire goods and services.
Grade(s): K-2, 3-5
Concepts: Inflation, Price, Goods and services, Income

Lesson 2: The Giving Tree
Teaching Economics Using Children's Literature
This a tender story about a tree and a boy. The tree loves the boy so much that it is willing to give the boy everything that it has (apples, shade, branches, and trunk). This story represents the ultimate sacrifice of love and the serene acceptance of another's capacity to love in return.
Grade(s): 3-5
Concepts: Natural Resources, Scarcity, Economic Wants, Price

Chapter 3: Lesson 6 - What Genius Figured Out How to Get Food from the Farms to The Market?
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: Markets and Prices, Profit

Lesson 3: Dandy Dollars Takes a Trip
Master Curriculum Guides in Economics: Teaching Strategies - 5-6
A market (price) system coordinates economic activity through markets. There are hundreds of thousands of different markets that are interrelated and usually dependent upon one another. The circular flow of economic activity is a model of the flow of goods and services and resources in the marketplace.
Grade(s): 3-5
Concepts: Goods, Services, Resources, Market, Circular flow of economic activity, Income, Revenue,

Theme 3: Lesson 11 - This One or That One?
Financial Fitness for Life: Steps to Financial Fitness - Grades 3-5 - Teacher Guide
In this lesson, students consider various factors that are important in comparison shopping. They compare prices and other factors for a particular product in order to make a decision.
Grade(s): 3-5
Concepts: Consumer, Comparison shopping, Criteria, Price, Unit pricing,

Lesson 12: Market Price II - Changes in Supply and Demand
Play Dough Economics
In this lesson, students will learn how changes in demand affect market price; what events would cause an incease or decrease in demand; that the market price serves as a guide to help producers determine what to produce.
Grade(s): K-2, 3-5
Concepts: Supply, Demand, Market price, Profit, Advertising

Lesson 18: Kid Power Strikes Back
Teaching Economics Using Children's Literature
Kid Power Strikes Back focuses on a neighborhood business organized by Janie Golden. Janie and her friends decide to expand their Kid Power summer business of grooming lawns, walking dogs, and running errands to shoveling driveways and sidewalks during winter. Throughout the book, Janie and her friends learn valuable lessons ineconomics. They confront concepts such as open market, monopoly, and...
Grade(s): 3-5
Concepts: Markets, Specialization, Monopoly, Market Survey, Profit, Competition, Advertising, Entrepreneurship

online Car Shopping
Contrary to US methods of distribution (namely prices), the Soviet Union used different methods of distribution of its goods during the reign of Communism. This lesson will explore the benefits and consequences of each of those methods of distribution.
Grade(s): 3-5
Concepts: Economic Systems,Incentive,Price

online Who Get's More than Their Fair Share?
This lesson has students continue to explore a variety of ways to share, particularly when an obvious solution is not apparent.
Grade(s): K-2,3-5
Concepts: Economic Systems,Market Structure,Economic Institutions

online Did You Get the Message?
Advertising is the primary tool used by businesses to tell consumers about the goods and services they sell in the marketplace. Businesses also use advertising to try to convince consumers to buy what they are selling. Advertisements do this by pointing out how consumers will benefit if they buy a product. These benefits are called incentives. In this lesson, these two basic functions of advertisi...
Grade(s): 3-5,6-8
Concepts: Advertising,Competition,Consumer Economics,Markets

online To Market To Market
This lesson will help students become good consumers and producers by taking turns buying and selling things in a classroom-created market. Students will establish prices for items and observe what happens during the sale of those items.
Grade(s): K-2,3-5
Concepts: Decision Making,Supply,Choice,Consumers,Demand,Markets,Price,Producers

online Clipping Coupons
In this lesson, students will calculate savings for different products when using coupons. They will also decide what factors will influence the choices they make when choosing products.
Grade(s): K-2,3-5
Concepts: Decision Making,Incentive,Price,Producers

online NOT your Grandma's Lemonade Stand
After a review of elementary economic concepts, students will apply their understanding by playing an online computer game, Lemonade Stand. This game has the students competing against themselves and others to earn the biggest profit in 25 days time (approximately 15 minutes computer time). "Daily" economic advice helps students find out where they fail in understanding the deman...
Grade(s): 3-5,6-8
Concepts: Supply,Choice,Consumers,Demand,Scarcity,Price,Producers

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 If I Ran the Zoo - Economics and Literature
Welcome to the Zoo! In this two-day lesson you will use Dr. Seuss' If I Ran The Zoo book to introduce the economic concepts to your students. You will also get the chance to use actual zoo criteria to help a zoo "choose" new animals.
Grade(s): 3-5
Concepts: Supply,Choice,Consumers,Demand,Scarcity,Price,Resources,Shortage

online The Best Deal
Students will learn how to determine 'price per unit' to help make decisions when comparing products.
Grade(s): 3-5,6-8
Concepts: Decision Making,Choice,Consumer Economics,Incentive,Price

online What is Competition?
Students will understand what businesses are, that a marketplace exists whenever buyers and sellers exchange goods and services, and that there is competition in the market place if you have more than one seller of the same item or similar items.
Grade(s): K-2,3-5
Concepts: Decision Making,Competition,Consumers,Markets