Judith Shelton, curriculum director at Ariel Community Academy, explains that a point of success for their K-8 financial-literacy curriculum is when students understand how school is directly connected to achieving their life goals.
Below is a sample lesson about goods and services provided by Ariel Community Academy. Connie Moran, the investments teacher for grades 6-8, explained how the lesson works: "These lessons are not by grade level, but progress in difficulty. We felt that following Bloom's Taxonomy would allow the curriculum to be adaptable to the students' needs, not necessarily their grade. For example, if a classroom has never been exposed to a concept at 6th grade, the teacher would be able to begin at the remembering stage if necessary. However, if the group is more advanced, the teacher could begin at the analyzing or creating stage."
Entire unit on goods and services with five lessons (see individual lessons below). Unit essential question: How are goods and services produced, consumed, and exchanged to satisfy needs and wants? Unit covers key concepts such as scarcity, allocation, trade, money, inflation, and economic standards.
Examples below are individual lessons from the Goods and Services Unit. Although Ariel progresses through the lessons using Bloom's Taxonomy to determine the class's level, the sequence below shows how the lessons could also progress by grade.
6th Grade Lesson -- Diagram the relationship among a final good or service, the way it’s produced, and who consumes and produces it. Define capital goods and compare market value of different goods and services.
8th Grade Lesson -- Explain scarcity and how not all wants for goods and services can be satisfied because people's wants exceed the quantity of goods and services that can be produced using all available resources.
Econ Ed Mobile Learning App -- Free iPhone app created by Federal Reserve Bank of St. Louis that allows you to visualize and understand how inflation and the cost of credit can affect your spending and saving decisions