Economics at the Middle School Level
Economics in the Middle School seems such a difficult subject to me. It’s part of our content standards and tested on the high stakes proficiency test in the 8th grade so it truly must be presented to students. Yet, it’s not well covered in our typical M.S. history text or for that matter, in my own college curriculum. I find myself searching constantly for ways and means to present Economics to my 8th graders.
Concrete examples and hands-on activities must be part of the economics curriculum. Vocabulary also must be learned in terms of a middle school students’ world. And, give our young consumers credit. They know quite a lot about money, choices and the way a free market system works. They just don’t know they know it because of the vocabulary! That’s our job as educators to take what they recognize, help them translate it into accepted econ vocab and principles, and apply it to economics to situations they observe or experience in society. Now that TRULY sounds like a daunting task!!
I choose to start with vocabulary. My students like to hear “things” to do as we started with a workbook. As we read through our economics workbook, all the italicized (economic) words went on the word bank list, with definitions, of course.
The word bank eventually evolved into flashcards. Now it’s an activity kids really like. We stay each other, review or quiz each other, all the while sorting flashcards from the “don’t know” to the “know that” piles. Flash card review is an activity before a test, when they finish something and are waiting for everyone else to get done, or as a fun game to end the class period. Using the vocab word in their own sentence checks for understanding. Can they use their sentence, deleting the econ vocab word, and have their partner figure out the word? Can they give an example for each word? Practice as a single proprietor, in a partnership, or in a (class-size) corporation.
Using the vocabulary of economics in as important. When a student comes to class and needs a pencil, stop class for a couple of minutes and do a needs (demand) supply demonstration. Throw in a little advertising (my pencil writes the BEST answers), stir up some some competition (who else has a pencil to lend), set up a price (2 shoe deposit) and watch for supply and demand. Kids love it; it makes what they’re learning real. They recognize a surplus brings price down; a shortage could drive prices up, and supply or demand everywhere.
Advertising is another great vocab word to demonstrate. Choose a product, and have partners do an ad. How will they convince customers their vision is best? Point out responsibility of the consumers from fraudulent advertising or unsafe products. How was the ad firm a consumer itself as well as a producer of a service? What is the difference between goods and services? Can advertising be proprietor, partner, or corporation?
Proprietors, or better yet, partnerships could randomly select a flashcard and develop their own demonstration of its meaning. What a great opening set for today’s lesson if a couple of students shared the vocab definition by acting it out. Try partners determining profit, or a corporation giving dividends to first preferred stockholders, then general stockholders. Demonstrate limited vs. unlimited liability. Let everyone have an opportunity to act out vocab words.
What a difference it makes when your students focus on the concepts and not puzzle over your words when you explain Economics. Start with vocab and help students make it their own!
