Success StoryBasic Economics



Basic Economics

Author: Stephen Conrad

Planning Unit: Boone County CES

Major Program: Family and Consumer Science

Plan of Work: 4-H Family and Consumer Sciences

Outcome: Initial Outcome

.Teachers have communicated a need for help with financial education lessons for 5th grade students.  The teachers state they are pushed for time and resources in preparing their students for this portion of the state test.  To help with this need, The Boone County Cooperative Extension Service offered a series of lessons on money and economics for 88 5th graders.  Topics covered were needs vs wants, scarcity, money, opportunity costs and delayed gratification, comparative shopping, and general economic terms/knowledge.  A written evaluation at the end of the series revealed that 93% of the students possessed a better understanding of the difference between needs and wants; 86% understood the importance of saving money versus spending because it’s “burning” a hole in their pocket; and 64% stated they now shop around and compare before purchasing.  The teachers involved indicated that the lessons were exactly what they were looking for and plan on continuing the series.         






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