Teaching Economics has always been a part of 5th grade Core Curriculum. This year, we are teaching Economics using a familiar and fun tool - Play-Doh! The kids will learn a new topic every couple of days and then get to use the Play-Doh to model what they have learned.
Today, our Economics lesson was on goods and services. We talked about how "goods" are tangible products that are manufactured and then sold to consumers (us). We discussed how all great business ideas start out as small projects, usually made in someones home. For example, Blake Mycoskie, founder of TOMS shoes, created his business after taking a trip to Argentina 2006 and seeing the masses of children without shoes. In Argentina, in order to attend school, children must have a full uniform, including shoes. Without an education the children would never have the opportunity to grow out of the poverty they were being raised in. Mycoskie noticed that so many children had everything they needed except a pair of shoes. He returned to the states with the desire to help those children. He began to manufacture simple, man-made shoes, and offered that for every pair sold, the company would donate one to a child in need. In his first year of business, Mycoskie sold 10,000 pair of shoes. In September of 2010, he gave his 1,000,000th pair of shoes. Talk about a small business that really found it's market! Tom's shoes retail for around $50, and while I can guarantee that Mycoskie is making a profit, he is an example of a "good" and a "service".
We spent the rest of our lesson discussing service industries. For example - teaching is a service industry! The kids seemed awfully surprised - but I am reminded every day! And I love what I do! Most people who work in a service industry enjoy their work - or they wouldn't (or shouldn't) do it! I had the kids use their Play-doh to create a sculpture of a person within the service industry. I just had to share a couple of them with you - although they were all really great!
Jaron created a Secret Service agent, complete with handcuffs! This SSA helps protect important people, like President Obama, from harm.
Madison created an EMT, Emergency Medical Technician. This EMT has been called to the scene of an accident where our Play-doh man has sustained severe injuries and is bleeding Play-doh blood quite profusely! What a great sculpture! Madison's dad is an EMT...and obviously her hero!
We are all looking forward to the next few weeks of Play-doh economics. Ask your kids what they are learning on a daily basis and you just may be surprised!
