Federal Reserve Economic Fundamentals: Elementary Curriculum

Four Feet, Two Sandals

In this lesson, which includes the story Four Feet, Two Sandals, students learn about ways to allocate scarce resources. They then identify allocation methods used in different scenarios.

Who Are Economists?

This lesson plan introduces elementary school students to economics and economists through readings, vocabulary, and biography projects. The included assessment requires pairs to create career day posters explaining economists' work and topics studied.

Ox-Cart Man

In this lesson, students listen to the story Ox-Cart Man in which a father and his family use various resources to produce goods. They participate in a simulation of the circular flow of the economy and use examples from the story to apply the concepts learned.

What's Price Have to do with It?

In this lesson, elementary students learn about consumers, goods, services, and price. They analyze how consumers generally respond to the changes in price for a good or service. From that analysis, they learn the law of demand. An assessment activity is included.

Characteristics of Money

This elementary lesson plan teaches students the six characteristics of money through video, hands-on investigation, and group activities.  The lesson also includes an assessment evaluating bottle caps as useful money. 

Hometown Bank Makes a Loan

This elementary lesson plan teaches students about banks' community impact through an interactive role-play simulation demonstrating loan ripple effects.  An assessment is included analyzing hypothetical loan scenarios.

What Makes a Community?

In this activity, students learn about creating a community and the role of government and taxes.  This lesson includes a student assessment.

How Many Beverages will Consumers Buy?

This active lesson has students encounter physical barriers that represent natural and government-imposed trade barriers. Students see that trade barriers reduce the flow of goods and services among countries.  An assessment is included with this lesson.

The Perfect Breakfast

This elementary lesson plan teaches students about interdependence and trade through a yarn web activity and video demonstration.  The lesson contains an assessment identifying interdependent countries and explaining trade benefits.

You Earn When You Learn

This lesson plan teaches elementary school students about human capital investment through name tent production simulating workforce education constraints. The assessment includes analyzing a scenario, identifying existing human capital, and explaining beneficial investments.