Economics · 5 weeks · Grades 5-10
Economics Basics Unit Study
Hand a student a treasury and they will learn scarcity in about four days.
Five weeks covering scarcity, opportunity cost, supply and demand, budgeting, and taxation, each tested against a live national treasury that responds to their decisions.
Essential questions
- Why can't we have everything?
- What does a price actually tell you?
- Who pays for public services?
- What happens when a budget stays negative?
Lessons
1. Scarcity and choice
Wants versus needs, and the cost of every yes.
2. Supply and demand
Why prices move, with a live resource to watch.
3. Budgeting
Income, expenses, reserves, and a plan that survives a surprise.
4. Taxes and services
Setting a rate and living with the happiness curve.
5. Trade
Comparative advantage and why both sides can win.
Projects
- • Run a five-day balanced budget streak
- • Chart one resource price for a week
- • Negotiate a trade deal and write the terms
Assessment
- • Budget accuracy check
- • Price chart analysis
- • Trade terms rubric
Vocabulary
scarcityopportunity costsurplusdeficitinflationtariffrevenue
Reading list
- • An illustrated introduction to economics
- • One short book on money habits for teens