CSI-R by Natalie Abdulkarim
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CSI-R by Natalie Abdulkarim

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  • Full Name Full Name Comment goes here.
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  • For some reason my links are not working in the slideshare. Here they are.
    Opportunity Cost Poster: http://www.kidseconposters.com/posters/the-basics/opportunity-cost/
    Scarcity Poster:
    http://www.kidseconposters.com/posters/the-basics/scarcity/
    Econ and Me Video:
    http://vimeo.com/9406181
    Comic Strip Generator ReadWriteThink:
    http://www.readwritethink.org/classroom-resources/student-interactives/comic-creator-30021.html
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CSI-R by Natalie Abdulkarim CSI-R by Natalie Abdulkarim Presentation Transcript

  • CSI-R Vocabulary Lesson By Natalie Abdulkarim
  • Content • Standard SS.1.E.1.2 Standard 1: Beginning Economics • Define opportunity cost as giving up one thing for another. • Disciplinary Content Vocabulary: • Opportunity Cost • Related Vocabulary: • Scarcity • Limited Resources • Choice
  • Content •Begin with a review of the Disciplinary Content Vocabulary and Related Vocabulary. •Use the following posters as support • Opportunity Cost Poster • Scarcity Poster View slide
  • Standards • CCSS.ELA-Literacy.CCRA.R.1: Read Closely-Evidence & Inferences. • CCSS.ELA-Literacy.CCRA.R.9: Analyze how two or more texts address similar topics. • CCSS.ELA-Literacy.CCRA.R.4: Interpret words and phrases as they are used in a text. • CCSS.ELA-Literacy.CCRA.SL.5: Make strategic use of digital media and visual displays of data to express information and enhance understanding of presentations. • CCSS.ELA-Literacy.CCRA.W.6: Use technology, including the internet, to produce and publish writing and to interact and collaborate with others. View slide
  • Investigate: Text 1 • Conduct a close reading of the following text: • Leah’s Pony • Author: Elizabeth Friedrich • Illustrator: Michael Garland • Published: 1999 • Level: K-3
  • Investigate: Text 1 Comprehension questions questions • Why was Papa able to buy Leah a pony at the beginning of the book? • Papa had a very good (tall and straight) corn crop. We can infer that he probably produced a lot of bushels that year and got a corn price high enough to afford the pony. Corn and money was not scarce. • Why did Leah’s family have to sell their possessions? • Leah’s Papa had borrowed money from the bank to buy seeds, but the seeds had dried up and blown away. Now they had no crop to harvest and sell in order to pay back the bank. Even if the market price of corn was high, Papa had no corn to sell! Corn was a limited resource and money was now scarce.
  • Investigate: Text 1 Comprehension questions questions her family pay • What choice did Leah make to help back the loan and keep from selling all the farm animals and equipment? • Leah chose to sell her pony to Mr. B., the grocery store owner. She used the money she earned from the sale to bid on items in the auction. • What was Leah’s opportunity cost when she decided to sell her pony? • Leah had a choice to sell or keep her pony. When she chose to sell the pony, her opportunity cost was giving up all the benefits of riding the prized possession she loved so much.
  • Investigate: Text 2 •Watch the Econ and Me video about Opportunity Cost • Econ and Me Video •Ask students to focus on the meaning of Opportunity Cost
  • Investigate: Text 2 Comprehension Questions Comprehension Questions • What was the opportunity cost for building the clubhouse? • The kids had to give up their swing set in order to make space for the clubhouse, so the swing set was the opportunity cost. • What was the limited resource because it was scarce when Econ was in charge of the construction project? • Space was scarce for the construction project, therefore it was a limited resource.
  • Investigate: Text 2 Comprehension Questions Comprehension Questions • What choice did the kids have to make regarding the furniture fro their clubhouse? • They had to choose which furniture they would put in the clubhouse because space was a limited resource and they would not be able to fit everything they collected. • What was the opportunity cost of choosing between the bookshelf and the table? • Since they had to choose either the table or the bookshelf because of their limited resource - space - their opportunity cost was the table when they decided to keep the bookshelf.
  • Report • Now show me what you have learned! • Think of an example of opportunity cost. • Go to: Comic Strip Generator at ReadWriteThink • Create a comic strip demonstrating a character who has to make a choice and is left with opportunity cost. • Write a paragraph describing the situation you created including and explanation of the limited resource, choice, and opportunity cost involved.