Literature to Teach Economics


Ideas to Young Children (Why Can’t I Have Everything?) by Jane Crawford


A


t the kindergarten level, instruction about money typically involves identifying coins. In many first-grade lessons about money, the focus is to connect values to coins and to


count coins. The first reference to money in the Common Core Standards is found in second grade. The requirement is for students to solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using symbols appropriately. Traditionally, second-grade lessons have included counting money and making change from $1.00. While these are important ideas for children to learn, there are other questions that are


important to children’s lives but not always answered in a classroom setting: Why do we need money? How do we get money? What are the differences between wanting and needing? What about saving and sharing? Why can’t we have everything we want?


What to Teach and When?


The Council of Economics Education published standards in 1997 and revised those stan- dards in 2010. The revised standards contain twenty economics content standards that are benchmarked at grades four, eight, and twelve. Some states follow these economics standards and some states have gone further and have written benchmarks for all grade levels, including pre-k. The state standards are published in a variety of formats. These are social studies stan- dards but fit nicely with mathematics requirements for young children to learn the names and values of coins, to count money, to compare quantities, and to find differences. Teachers of young children are being asked to address economics ideas—often without


a clear picture of what that entails. How do you approach a six-year-old to talk about conse- quences of unplanned spending? At what age is it best to discuss saving for a rainy day? Why should we convey the idea that credit cards and checkbooks contain limited funds? Why is it important to know if you have enough money? Traditionally economics has been taught at college or high school level only. The current


worldwide economic problems, however, suggest that economics ideas are important enough to teach at younger levels as well. But presenting economics ideas to young children is very challenging. Most opportunities to learn about economics in real-life context happen away from school. Economics ideas are very sophisticated for young learners. Integrating eco- nomics teaching with math and literature presents opportunities for better understanding of financial information by young children. Teachers of kindergarten through second grade need a resource that provides lessons that are integrated with mathematics, writing, reading, and economics.


A Lesson:


I visited a classroom of mostly seven-year-olds in the early part of their second-grade year. They had received instruction in identifying and counting coins in kinder-


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Students write to Judith Viorst’s character, Alexander, with advice about money and savings.


Connect • PAGE 1 Why do we need


money? How do we get money? What are the differences between wanting and needing?


Integrating Math and

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