Module 20: Economic Systems- Social Studies 3 - Course Guide

Module Overview:

In this module, students will learn to explain the bartering and trading system, explain why money has mostly replaced bartering, identify the types of currency used in North America, and describe how the development of new technology has impacted the economy. They will draw conclusions about how changes in production cost affect price and identify the relationships between consumers and producers.

Module Materials:

  • Pencils
  • Crayons or colored pencils
  • Notebook
  • Scissors
  • Glue
  • Highlighter
  • Markers
  • Blank paper

Module Objectives:

Lesson # Lesson Title Objective(s)
1 Bartering and Trading
  1. Explain the bartering and trading system.
2 Money
  1. Explain why money has mostly replaced bartering.
  2. Identify the types of currency used in North America.
3 Industry Drives the Economy
  1. Describe how the development of new technology has impacted the economy.
4 Cost of Production and Price
  1. Draw conclusions about how changes in production cost affect price.
5 Consumers and Producers
  1. Identify the relationships between consumers and producers.

Module Key Words:

Key Words
bartering
trading
wants
needs
cost
benefit
currency
barter
industry
economy
money
technology
production
price
consumer
producer

Module Assignments:

Lesson # Lesson Title Page # Assignment Title
1 Bartering and Trading 5 Bartering at a Garage Sale Assignment
3 Industry Drives the Economy 5 Comparing Books Assignment
5 Consumers and Producers 5 Consumers and Producers Scenario Assignment

Learning Coach Notes:

Lesson # Lesson Title Notes
1 Bartering and Trading After completing the lesson, ask your student to explain what bartering is and the ways people trade.
2 Money After completing this lesson, ask your student to explain the role of money and the kind of money used in North America.
3 Industry Drives the Economy After completing this lesson, ask your student to explain how technology affects the economy.
4 Cost of Production and Price After completing this lesson, ask your student to explain production, and how the cost of production affects the cost of things.
5 Consumers and Producers After completing this lesson, ask your student to explain who producers and consumers are and how they interact with each other.

Module Guiding Questions:

When a student starts a lesson ask them questions to check for prior knowledge and understanding and to review concepts being taught. At the end of the lesson ask the questions again to see if their answer changes.

Lesson Title Question
Bartering and Trading
  1. What systems do people use to get the things they want and need?
Money
  1. Why do people use money?
Industry Drives the Economy
  1. How have changes in technology impacted the economy?
Cost of Production and Price
  1. How does the cost of production affect price?
Consumers and Producers
  1. What are consumers and producers?

Module Video Questions:

When a student watches a video take time to ask them questions about what they watched. Suggested questions for the videos in this module are listed here. Suggestion: Have the student watch the entire video first all the way through. Then have them watch the video a second time, as they watch it pause the video and ask the questions.

Lesson Title Video Question

Module Suggested Read Aloud Books:

Take time to read to your student or have them read aloud to you. Read a different book each day. While reading the book point out concepts being taught. You may purchase these books or find them at your local library. Suggested things to discuss while reading the book:

  • What is the main idea?
  • What are three things new you learned?
  • How does this book relate to what you are learning about?

# Book Author Lexile Level

Module Outing:

Take some time to apply what your student is learning to the real world. Suggested outings are below.

# Outing