{"id":1895,"date":"2009-10-26T15:03:27","date_gmt":"2009-10-26T20:03:27","guid":{"rendered":"http:\/\/blog.richmond.edu\/openwidelookinside\/archives\/1895"},"modified":"2009-10-26T15:03:27","modified_gmt":"2009-10-26T20:03:27","slug":"teaching-economics-with-childrens-literature-round-and-round-the-money-goes-what-money-is-and-how-we-use-it","status":"publish","type":"post","link":"https:\/\/blog.richmond.edu\/openwidelookinside\/2009\/10\/26\/teaching-economics-with-childrens-literature-round-and-round-the-money-goes-what-money-is-and-how-we-use-it\/","title":{"rendered":"Teaching Economics with Children’s Literature: Round and Round the Money Goes"},"content":{"rendered":"

\"514bfw5xxxl_sl500_aa240_.jpg\"<\/a><\/p>\n

Introduction and Summary<\/strong>
\nRound and Round the Money Goes (What Money Is and How We Use It)<\/a>\u00a0<\/em>by Melvin and Gildar Berger, and illustrated by Jane McCreary, is a great resource to use when exploring economics with early elementary school students. \u00a0The book provides a detailed overview of the history of money, beginning with specialization of labor and trading.<\/p>\n

“Long ago there was no money. \u00a0People grew or made everything they needed. \u00a0Then things started to change. \u00a0People did only one kind of work. \u00a0Farmers farmed. \u00a0Hunters hunted.\u00a0 Weavers made cloth. \u00a0Woodcutters chopper wood. \u00a0Now people needed other things. \u00a0So they traded; potatoes for cloth, fish for meat, or fishwood for animal skins,” (pages 6-7).<\/p><\/blockquote>\n

Berger and Berger discuss how the problems associated with trade led to the institution of currency (the earliest of which were shells). \u00a0The authors also discuss the U.S. mint, as well as the ways that people use money and the cycle of money. \u00a0Berger and Berger point out the importance of saving, and provide an overview of interest, checking accounts and credit cards. \u00a0“Start saving your money at home,” the authors suggest. \u00a0“Find a good, safe place to keep it. \u00a0After awhile bring your money to a bank…They will give it back to you when you ask for it. \u00a0Banks will also give you back a little extra money. \u00a0The extra money is for letting them hold your money. \u00a0We call the extra money ‘interest.'”<\/p>\n

Curriculum Connections<\/strong>
\nRound and Round the Money Goes (What Money Is and How We Use It),<\/em> is a great resource to use when teaching kindergardeners, first graders, second graders, and third graders about money and the economy. \u00a0Pages 32-33 provide many useful examples to share with students when learning about how people work to earn money and to buy things they want (k.7 b). \u00a0Page 36 is a good resource to use when discussing how people save money for the future to purchase goods and services (1.9). \u00a0The beginning part of the book, pages 3-20, can be employed at the second grade level when teaching students about the difference between the use of barter and the use of money in the exchange of resources (2.8). \u00a0These pages also touch on the idea of scarcity, and how people must make choices about producing and consuming goods and services. \u00a0\u00a0Pages 3-20 also convey the more sophisticated concept that people and regions cannot produce everything they want, leading to the idea of specialization and trade (3.8). \u00a0 <\/p>\n

Additional Resources:
\n<\/strong>-The “Fifty Nifty”<\/a> economics cards and assessments found\u00a0on the Federal Reserve website are a great tool to use\u00a0when teaching economics. (Many games can be played, and activities can be done, using the cards.\u00a0 See additional activities on the right-hand side of the webpage).\u00a0
\n-This site <\/a>provides great activities to use when teaching economics in the elementary school classroom.
\n-This\u00a0lesson plan<\/a>\u00a0is useful when discussing scarcity with students.
\n-This\u00a0game<\/a>\u00a0is a great way to students to practice distinguishing between goods and services.<\/p>\n

General Information:
\nBook:<\/strong> Round and Round the Money Goes (What Money Is and How We Use It)<\/a> <\/em>
\nAuthors: <\/strong>Melvin and Gilda Berger
\nIllustrator: <\/strong>Jane McCreary
\nPublisher:<\/strong> Ideals Children's Books
\nPublication Date:<\/strong> 1993
\nPages:<\/strong> 47
\nGrade Range:<\/strong> K-3
\nISBN:<\/strong> 0-8249-8640-7<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Introduction and Summary Round and Round the Money Goes (What Money Is and How We Use It)\u00a0by Melvin and Gildar Berger, and illustrated by Jane McCreary, is a great resource to use when exploring economics with early elementary school students. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":4424,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50,97],"tags":[],"class_list":["post-1895","post","type-post","status-publish","format-standard","hentry","category-book-review","category-economics"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/posts\/1895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/users\/4424"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/comments?post=1895"}],"version-history":[{"count":0,"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/posts\/1895\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/media?parent=1895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/categories?post=1895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.richmond.edu\/openwidelookinside\/wp-json\/wp\/v2\/tags?post=1895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}