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Economis Mini-Lesson: Trade (Grades 2-5)
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Adapted from the lesson, Cinderella: A Global Fairy Tale, produced by staff at the Powell Center for Economic Literacy
Target Age: grades 3-5 (but can be used with younger students)
Time Required: approximately 35 minutes
Topics Covered: trade, exports, imports
What Will the Students Learn?
The definition of Exports – goods and services produced domestically which are sold to or traded with other countries.
The definition of Imports – goods and services produced in other countries which are consumed domestically by consumers, businesses or governments.
The definition of Interdependence – (a) a relationship between participants in the marketplace that entails an exchange of benefits between producers and/or consumers. Also, a link between decisions and events in one part of the world or one sector of an economy to other parts of the world or other economies. (b) Needing one another; i.e., the manufacturer (producer) needs people (consumers) who will buy its toys (product).
The lesson also reinforces the concept of Scarcity – the condition that results because people’s wants are relatively unlimited and the resources available to satisfy those wants are relatively limited. This condition forces people to make choices.
The lesson will also reinforce the definition of Trade – exchanging goods and services with people for other goods and services or for money. When people trade voluntarily, they expect to be better off as a result.
State Content Standards Key
California: History/Social Science 2.4 (subpoint 2 and 3), 3.5 (subpoints 2 and 3)
Florida: SS.D. 1.2 (subpoints 1 and 2), SS.D.2.1 (subpoint 4), SS.D.2.2 (subpoint 1)
Indiana: Social Studies (Economics) 3.4.1, 3.4.3, 3.4.4, 3.4.7, 3.4.8, 4.4.3; E.1.6
Virginia: History/Social Science 3.8,
Lesson Overview
This lesson is designed to be the companion to the mini-lesson on Scarcity Grades 2-5. Depending on whether you did the Scarcity Lesson Grades 2-5 with all the students who are participating this lesson, they may have an opportunity to experience the benefits of trade by contrasting the end result of the two simulations. The emphasis here in this lesson is on the benefits of voluntary trade. Therefore, although the teacher should allow the four groups to trade with each other, the teacher should not direct any of the trades. As in the Scarcity Lesson grades 2-5, students will divide into four groups, representing the four countries of Hasalot, Hassome, Hasalittle, and Needsalot.
Materials Required:
Four 10X 13 envelopes
Task Sheets (print out 1 copy of each country’s tasks)
4 sheets each of red, green, blue, brown, and yellow construction paper
2 pencils
2 markers
3 rulers
2 pairs of scissors
1 glue stick
15 paper clips
OPTIONAL – 1 lunch bag (per student) with 3 small, very inexpensive items in each. Items could be purchased from The Dollar Store or similar shop. Items should vary considerably – include some things that seem attractive (small candy pieces, gum, very cheap toys) as well as more “mundane” things (e.g., socks, plain pencils, paper clips). Include items that are more “boy” specific and more “girl” specific too. Place a few items in each lunch bag and staple the lunch bags closed, so that students cannot see what’s inside them.
Teacher Preparation
Prepare the four country packets (envelopes) as follows:
Hasalot Envelope: 1 each of red, green, blue, and brown construction paper; 1 pencil; 1 marker; 2 rulers; 1 pair of scissors; 1 glue stick
Hassome Envelope: 1 each of red, yellow, green, and brown construction paper; 1 marker; 1ruler; 1 pair of scissors; 8 paper clips
Hasalittle Envelope: ½ sheet each of red, brown and green construction paper; 1 pencil; 4 paper clips
Needsalot Envelope: ½ sheet each red, green, blue, brown, and yellow; 3 paper clips
Lesson Plan
OPTIONAL INTRODUCTORY ACTIVITY
Write the word “TRADE” on the chalkboard/whiteboard. Ask students to define the word. When you feel they have a general sense of what trade is, tell them that they are going to get to receive a bag, open it, and then have a brief period of time when they can try to trade with other kids, if someone else has something they want. All trades must be voluntary. Students can negotiate – some may have to give up 2 items in a trade for a single item that is more attractive. Students who are completely content with the contents of their bag need not trade anything at all if they do not want to. Pass out a bag to each student, but don’t allow anyone to open his/her bag. Set a strict time limit on the amount of time you will allow them to trade and negotiate (3 –5 minutes is plenty). When you say “go,” they can open their bags, assess the contents, and then begin trading as they wish. At the end of the designated time, say “stop.” All trading must cease and the students should return to their seats with their bags. Now hold a brief discussion with the class, asking them to describe their trades to you. Why did they trade? How did they come to a “fair” trade? Were they happier with the contents of their bag at the end of this exercise than they were at the beginning when they first got the bag?
Explain to the students that countries also engage in trade. The U.S. trades with countries like Japan and Mexico, for example. Discuss with the students the benefits of international trade. Trade is the exchange of goods and services. As long as trade is voluntary, people trade because they expect to become better off as a result; the value of what they gain is thought to be greater than what they give up. Explain that both parties do not need to benefit equally in order for the trade to take place. If one or both parties believe they no longer benefit from the trade, these exchanges will cease. This idea applies to trade among individuals and businesses as well as to trade among nations. There are costs to free trade, but in general, economists agree that its benefits far outweigh its costs.
Divide the students into four groups. Each group represents a county: Hasalot; Hassome; Hasa little; Needsalot. Give each group the envelope that corresponds to their country.
Explain that each country will have 20-25 minutes to complete the tasks on the task sheet.
Give the signal to begin. Allow the students to trade freely with others from each country. They may still not be able to complete all the tasks; however, they should be able to complete most of them.
Discuss what happened.
Was everyone able to complete the tasks? If not, what tasks were not completed? Why? (answers will vary)
Is it possible for countries to be self-sufficient? (It depends on the resources that country has available, and also how willing they are to forego the additional benefits of trade)
What goods and services did your country import? Export? (Answers will vary.)
What are some reasons why countries wouldn’t want to trade with others? (Cultural traditions, they don’t have anything anyone wants, etc.)
Were there conflicts? If so, what caused them and how were they resolved? (Answers will vary.)
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