Economics Unit | 3rd Grade Social Studies | Budget | Business | Entrepreneurs

Ready-to-go, interactive Economics Unit for 3rd Grade Social Studies! Lessons and engaging activities for teaching about economics and the free enterprise system including personal finances and entrepreneurs. Students learn about consumers and producers, supply and demand, and wants and needs through meaningful experiences!

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❤️❤️❤️ What's this unit all about?

This unit 2-4 week unit (depending on your schedule!) helps students learn the basics of economics through interactive classroom simulations and engaging activities.

The unit is broken into 3 sections:

Part 1: Personal Finances

Students begin by imagining their life in the future as you travel to the newly discovered planet "Futura." Here, students must make choices about their home, vehicle, food, and lifestyle, and balance these wants and needs with the job they select. They will create a simple budget, learn about the importance of savings, and make some tough decisions in the process.

Part 2: The Free Enterprise System

Students will experience being both a producer and a consumer by working in groups to create and sell a real product in this simulation of the free market. Classmates will act as consumers to purchase the goods as they learn about supply and demand. Groups will then complete a reflection on their company including their expenses, profits, and pricing decisions.

Part 3: Entrepreneurs at Work

Students will learn about famous entrepreneurs and consider their contributions to the community. As a class or in small groups, students will research these individuals, gather information, and present their ideas to the class.

⭐️PERFECT FOR >>>

Teachers wanting ready-to-go lessons and materials for teaching about economics! This unit is targeted for 3rd grade but can easily be adapted for 2nd or 4th. If you're struggling to fit in Social Studies, this unit will help you maximize those minutes and cover all the topics!

⭐WHAT’S INCLUDED >>>

✔️ Sets of Activities for Each Focus

✔️ Resources for the Simulations

✔️ Graphic Organizers

✔️ Read-aloud Ideas and Video Suggestions

▶️ LEARN MORE!!

For more about this resource and to view sample pages, click the PREVIEW button above!

Entrepreneurs Included: Milton Hershey, Henry Ford, Bill Gates, Mary Kay Ash, Wallace Amos, and Sam Walton

WHY TEACHERS LOVE IT >>>

❤️ Easy prep, high engagement!

❤️ Focused lessons for tight schedules!

❤️ Flexible and easy to adapt!

❤️ Meaningful and interactive learning!

❤️ Easy integration into reading and writing!

NOTE: Although this unit was designed to meet the Texas state standards (TEKS), the activities and learning fit any unit on economics! Read below to see specific standards addressed.

WHAT TEACHERS ARE SAYING >>>

⭐️⭐️⭐️⭐️⭐️ This is by far one of my favorite purchases from TpT! The pages are appealing and the activities are hands-on and really get students thinking about future plans. Perfectly suited for my third-graders and a super-engaging way to end our school year!

⭐️⭐️⭐️⭐️⭐️ This resource has everything you'll need to teach economics! Notes, lesson directions, how to use each material. My students love the activity where they get to become an entrepreneur (choose an item to sell, make it, sell to their classmates.) I love that it has templates for everything! Print and go.

⭐️⭐️⭐️⭐️⭐️ I love this unit so so much!! After previewing what my district wanted me to use to teach this unit I realized that I would need to find my own unit that covered the exact same material, but in a much more engaging way. I found this unit and it was a huge hit with students and teacher alike!

Thanks so much! I hope you found just what you needed!

Kady from Teacher Trap

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Standards Addressed (Texas Standards TEKS)

3.6 The student understands the purposes of earning, spending, saving, and donating money. The student is expected to:

(A) identify ways of earning, spending, saving, and donating money

(B) create a simple budget that allocates money for spending, saving, and donating

3.7 The student understands the concept of the free enterprise system. The student is expected to:

(A) define and identify examples of scarcity

(B) explain the impact of scarcity on the production, distribution, and consumption of goods and services

(C) explain the concept of a free market as it relates to the U.S. free enterprise system

3.8 The student understands how businesses operate in the U.S. free enterprise system. The student is expected to:

(A) identify examples of how a simple business operates

(B) explain how supply and demand affect the price of a good or service

(C) explain how the cost of production and selling price affect profits

(D) explain how government regulations and taxes impact consumer costs

(E) identify individuals, past and present, including Henry Ford and other entrepreneurs in the community such as Mary Kay Ash, Wallace Amos, Milton Hershey, and Sam Walton, who have started new businesses

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