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Wisconsin Economic Standard D.4.3 Specialization and Trade

Identify local goods and services that are part of the global economy and explain their use in Wisconsin

Economic Concepts
Goods  ||  Services  ||  Exports  ||  Imports

Links to Content Information

	The exchange of goods and services and connections with the world.  This description and student activity are based on Maryland, but could be revised for use in Wisconsin.  For grades 4-5.
	Identify economic resources located within a community - Contains explanation for teacher and a student activity for grades K-3.
	The impact of economic specialization - Describes the impact of economic specialization on the growth of communities.  Includes a student activity  for grades K-3.
	U.S. International Trade in Goods and Services, from the U.S. Census Bureau - This page links to exhibits showing the amount of goods and services in foreign trade by several categories.

Links to Lesson Plans and other Suggested Teaching Strategies

	The exchange of goods and services and connections with the world.  This description and student activity are based on Maryland, but could be revised for use in Wisconsin.  For grades 4-5.
	Made in the USA - Grades 2-4. Students map products made in the United States. Students discuss regional interdependence and identify goods the U.S. produces and trades. Students describe how economic links make Americans more alike, and locate major manufacturing centers in the U.S.
	Picture a Business - Grades K-2. For this activity, children create helpful books about local businesses to show what resources are available to their community.

List of Curricular Materials and Learning Activities

	Master Curriculum Guide in Economics: Teaching Strategies K-2, from Economics America (search catalogue), available from EconomicsWisconsin. Part 1, Lessons 2-4: Economic Wants and Consumers - Students learn the economic concepts: wants, goods, services, and consumer.
	Master Curriculum Guide in Economics: Teaching Strategies 3-4, from Economics America (search catalogue), available from EconomicsWisconsin.  Lesson 2: Service with a Smile - After learning about goods and services and resources, students make a coupon book of services to offer to their family.
	The Community Publishing Company - Grades 3-5.  In this series of 33 lessons, students explore their communities, then write reports, form a publishing company, and manufacture and sell their book. Through this involving and motivating program, students learn economic concepts: scarcity, opportunity cost and trade-offs, productivity, economic institutions and incentives, exchange, money, and interdependence, markets and prices, supply and demand.  From Economics America (search catalogue), available from EconomicsWisconsin.
	Section B:  Productive Resources - Grades 2-6. Lessons 1-5.  In Unit 1 of Eco-Sense: It's Elementary from Business Economic Education Foundation, 123 North Third Street, Suite 504, Minneapolis, MN 55401; (612) 337-5252. Economic Concepts: Resources, goods, services, needs, wants.

National Content Standards 5 and 6 and their benchmarks

Email an expert

Professor Mark Schug, University of Wisconsin-Milwaukee