Economics Wisconsin

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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

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Links to Content Information

blue check mark 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.
blue check mark Identify economic resources located within a community - Contains explanation for teacher and a student activity for grades K-3.
blue check mark The impact of economic specialization - Describes the impact of economic specialization on the growth of communities.  Includes a student activity  for grades K-3. 
blue check mark 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.

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Links to Lesson Plans and other Suggested Teaching Strategies

blue arrow 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.
blue arrow 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.
blue arrow 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. 

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List of Curricular Materials and Learning Activities

blue push pin 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.
blue push pin 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. 
blue push pin 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.
blue push pin 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.

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National Content Standards 5 and 6 and their benchmarks

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Email an expert

    Professor Mark Schug, University of Wisconsin-Milwaukee

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Developed by 
Lynn Kirby, Ph.D.
Larry Weiser, Ph.D.