Lesson: Economy Introduction: Jack and the Bank Stock- adapted from
http://www.econedlink.org/lessons/index.php?lesson=EM66&page=teacher
Length: 30 minutes
Age/grade level: 3rd grade
Academic Standards:
Social Studies 3.4.5- List the characteristics of money and explain how money makes trade
easier
Performance Objectives:
After participating in a class discussion about Jack and the Beanstalk, students will list on a piece
of paper two roles or functions of money.
Assessment:
Teacher will collect and check that each of the three roles or functions is correct.
Advanced Preparation:
Get a copy of Jack and the Beanstalk (the original story)- if you cannot find one in your library
one is available at www.usm.edu/english/fairytales/jack/k.htm
Procedure:
Introduction:
“What is money?” (Bloom’s- Knowledge)
“Why do we need money?”
Step-by-Step plan:
1. Inform students of the three functions something performs to be accepted as
money. Ask them to try to explain each in a group discussion before you tell
them what it means. The functions are: a medium of exchange (everyone has
to accept that it is money. We might use a gold coin. Some ancient cultures
used shells.), a unit of account (the money can be broken down- dollars into
cents), and possess store value (it has to be made from a material worth
something tomorrow).
2. Read Jack and the Beanstalk to the students. Make sure you, or the students,
point out to the students how Jack gets the items in the story. (Gardner’sVisual-Spacial)
3. Ask the following questions one at a time and allow plenty of time for student
discussion about the answers after each question: “What did Jack’s mother ask
to trade in exchange for the cow?” “Why did Jack’s mother not like the trade
Jack made?” “Since we now know the functions of money, why would the
beans not be money?” (Gardner’s- Verbal-Linguistic)
4. Have students return to their desks and write down two of the functions of
money and what they mean.
Closure:
After the class is finished writing, have a class discussion about the three
functions of money. Have at least three students give the definition in their own words.
(Bloom’s- Comprehension)
Adaptations/Enrichments
For a student with ADHD, have them sit near you. Also, have that student be an active part in
the discussion.
For a student with processing difficulties, provide the student with the questions before the
lesson begins.
For a high ability student, have them analyze how putting the beans into the ground is similar to
putting money in the bank. Have that student report their analysis back to the students at the end
of the closing activity. (Bloom’s – Analysis)
Self-Reflection