Bridgewater College Teacher Education Program Lesson Plan Title of Lesson Scarcity and its importance Subject Area(s):

Grade Level(s): nd 2 grade Social Studies (economics) Date: N/A VA SOL:

Name____Jack Barchock

2.9) The students will explain scarcity requires people to make choices about producing and consuming goods and services. Content Objective(s): The students will prioritize different resources in their importance according to an items scarcity. IEP Goal/Objective: Accommodations/ Differentiation I will need to know if any student is allergic and the parents need to give permission before I could do this lesson. Pizza lunchable will be used if any student cannot eat meat.

Assessment (based on objectives): The students will go to market and construct their own lunchable sandwich. The amount of resources they put on their sandwich is dependent upon market value and the scarcity of each item. (crackers, cheese, meats, pizza bread, sauce, shredded cheese. ) . Materials: 18 lunchable; variety of ham, turkey, and pizza 180 Barchock bucks Board to draw market prices Integration of technology: No technology will be used Alternative Plan: N/A

Anticipatory Set (Hook & Agenda): : Have you guess ever wondered why gas can be so low one day, and be high the next. : (Has anybody ever seen this?) : When I was younger I remember when gas was $1:25. : Now gas reaches $4.00. (Can anyone tell me the difference in price?)- Exactly, $3.75 per gallon difference. : Gasoline is considered a scarce resource, because the price can go up and down and the amount of driving we can do is dependent upon gas prices. Today, we are going to discuss scarcity and the reasons why have to make choices about certain goods and services.

Accommodations / Differentiation If the students have trouble doing the math I will just tell them the answer. Repeat the word multiple times so the all students understand that the word is scarcity not scary.

Time Planned 3 to 5 minutes

Access/Review Prior Knowledge: : Can anybody raise their hand and tell me what a consumer is? : Can anybody raise their hand and tell me what a producer is?

If the students does not know the answer, refresh their memories before you move on.

3 to 5 minutes

Teaching Process & Modeling (Content is presented, accessed, or built): : Yesterday, we learned about bartering. Bartering is similar to scarcity, but when items are scare they are worth more. : Take the producer of winter coats in the summer time they might only barter for a tee shirt, and shorts. : However, if it was winter time the value of that item would go up, so the producer might barter for a tee shirt, shorts, flip-flops, and a hat. The consumer that wants the item in the winter will have to barter more to receive the item, because the winter coat is scare during the winter when more people want coats. : Scarcity requires consumers to determine what are important and if they really need that item. : In the example about bartering during the different seasons, the producer of the coat could charge (barter) a ridiculous amount and the consumer had to pay because they needed that scarce item. Guided Practice & Checking for Understanding: : Pass out 10 Barchock Bucks to each student. : Explain that the students will have 10 bucks to spend in a total of five days at the market. (not really taking five days, but were pretending were are going onto the next day) : The students will have to choice what resource they are buying on each day so they can make their sandwich. (The students will not know that different items will be influenced by scarcity) : The student will need to use their money wisely to enjoy a sandwich DAYS Monday Tuesday Wed. Thursday Friday 1 cracker $ 2.00 $ 3.00 $ 4.00 $ 1.00 $ 2.00 Turkey $ 7.00 $ 5.00 $ 2.00 $ 1.00 $ 3.00 Ham $ 1.00 $ 4.00 $ 3.00 $ 2.00 $ 5.00 Cheese $ 5.00 $ 1.00 $ 3.00 $ 2.00 $4.00 Pizza Bread $ 4.00 $ 6.00 $ 7.00 $ 2.00 $ 5.00 Sauce $ 2.00 $ 3.00 $ 5.00 $4.00 $ 1.00 Shredded Cheese $ 3.00 $ 4.00 $ 2.00 $ 5.00 $ 6.00 Pepperoni $ 5.00 $ 3.00 $ 4.00 $ 2.00 $ 1.00

Make sure the students remember what bartering is before you go on.

7 to 10 minutes

Explain to the students to examine all their choices before buying an item at the market. And make sure they understand they only have five days to make their purchases.

25 to 30 minutes

Independent Practice: : The student will assess their finished sandwich, and write in their journals about how scarcity affects their economic choices.( This can be completed in a two to three sentences) Closure: : Tonight for homework explain to your caregiver what scarcity is, and together come up with three items that can be considered scare, other then what we learned today in class. (Anything but gas) and create a sentence about the importance of the scarce item. (I am incorporating homework into my lesson with the idea coming from classroom instruction that works, by including caregivers when completing the homework with the child. Parents do play a role in helping students with their homework, but research has shown this to have a positive correlation with students. When caregivers show interest then the student will take more pride in trying to understand the material. I am acknowledging this and I want caregivers to take an interest in their childs work, and providing assistance to the child is all they need. This homework lesson should not take more than ten minutes to complete, and it will only further the students knowledge of the content.) Declarative Statement Summary: Today we identified what scarcity is, and how it affects consumers when they are deciding what to buy. Make sure every student has a caregiver at home that cares about them. If caregiver not home arrange someone at school to be a mentor for the child.

5 to 10 minutes 5 to 7 minutes

1 to 2 minutes