Enhanced Scope and Sequence - Virginia Department of Education ...

Grade 3
Session 3: Making Classroom Economic Decisions ____________________________________
Materials
―Goods‖ such as pencil, sticker, fruit, book, markers, crayons
A ―Choices Chart‖ with the following headings:
Choices Choices Made Choice Given Up (Opportunity Cost)
Instructional Activities
1. Post the Choices Chart on the board. Tell students you are going to show them several different pairs of goods
and that one student will get to choose the item he or she wants.
2. Display two items, and write them under Choices on the chart.
3. Call on a student to come forward and choose what he/she wants. When the student has made a selection,
write that choice under the category Choice Made.
4. Ask students what was not chosen, and write that choice in the column Choice Given Up (opportunity cost).
5. Continue this process several more times.
6. Review the chart with students, making sure they understand that a choice had to be made, and what was
given up was the opportunity cost.
7. Tell students that not only are items given up, but sometimes they also have to make choices between
activities. Give examples like choosing between playing baseball or going to the movies; watching television
or playing outside; going to a friend’s house or staying home.
8. Ask students if they ever had to make an economic decision that caused them to choose between two items to
purchase. Let students describe their two choices, how they made their decision about what they chose, and
what was their opportunity cost.
9. Visit the Kid’s Econ Poster Web site, http://www.kidseconposters.com/econsongs.html for songs and
instructional materials on making choices.
2010 History and Social Science Standards of Learning Enhanced Scope and Sequence
Virginia Department of Education 105