Social Studies
Objective: I can explain how people earn income and why learning new skills can help them earn more later.
Standards: D2.Eco.6.3-5, D2.Eco.3.3-5, D2.Eco.13.3-5
Builds on: Needs Week 1 Day 4 (human capital) and Week 25 Day 1 (capital resources are tools and machines). One-minute check: "What is human capital?" (The skills and knowledge a worker uses to do a job.)
- income – money a person earns by working or by selling goods or services
- productivity – how much a worker makes or does in a set amount of time
- capital goods – the tools and machines workers use; another name for capital resources
- Warm-Up (5 min) — Spaced review from Week 25. Ask: "What is the difference between a good and a service?" (A good is a thing you can touch. A service is work done for you.) Then ask the big question: "How can a kid earn money?" List the ideas in the notebook.
- Mini-Lesson (10–15 min) — Say: "Income is money a person earns by working or by selling goods or services." Say: "Lucia earns $4 each time she rakes leaves. She rakes 3 times." Your child counts her pay in play dollars. Ask: "What is her income?" ($12, because 3 × 4 = 12.) Say: "The skills and knowledge in your head are your human capital. Learning costs time now. It can pay off later, because many jobs that need more training pay more." Now teach productivity. Say: "Productivity is how much a worker makes in a set time. A baker mixing dough by hand might make 10 loaves in an hour. With an electric mixer and a bigger oven, the same baker might make 40." Ask: "How many more loaves is that each hour?" (30 more, because 40 - 10 = 30.) Say: "The mixer and oven are capital goods. Better capital goods raise productivity. So does better human capital. A trained baker works faster and wastes less." Ask: "Which is human capital, the oven or knowing how to bake?" (Knowing how to bake.) If stuck, say: "Is it a thing you can touch, or something the worker knows?"
- Activity / Source Work (15–20 min) — Bean Mover Test. In Rounds 1 and 2, change only the tool. Keep the same bowls, beans and counting time. 1) Put the beans in one bowl. Draw a table with three columns: round, tool, beans moved. 2) Round 1. Count slowly to 20 while your child moves beans to the empty bowl with two fingers, one bean at a time. Write the number moved. 3) Round 2. Do it again with the spoon. Write the number. 4) Round 3. Your child practices with the spoon for a minute, then tries again. Write the number. 5) Ask: "What raised your productivity?" (A better tool, then practice.) Most children move more in Rounds 2 and 3. Real results vary. Look for the pattern. 6) Job cards. Write four jobs on the index cards: electrician, chef, nurse and bus driver. For each, your child names one skill the worker learned and how they learned it. (Sample: a nurse learned to give medicine at nursing school.)
- Notebook Entry (10 min) — Title the page "Earning Income." Your child finishes four frames: "Income is ___. Human capital is ___. With an adult's OK, I could earn money by ___. The skill I need is ___." Sample: "I could earn money by watering plants. The skill I need is being careful." Then solve: "Kenji sells 6 bracelets for $2 each. The beads cost him $5. How much does he keep?" ($7, because 6 × 2 = 12 and 12 - 5 = 7.)
- Exit Ticket (5 min) — Read the three exit questions aloud. Your child solves question 1 on paper and answers the others in a sentence. Praise answers that use the word productivity.
Watch for: Thinking adults are simply given money by a bank or a cash machine.
Try: Trace a paycheck together. A worker does a job. The employer pays the worker. The pay goes into the bank before any comes out.
- Tess sells 6 jars of jam for $3 each. What is her income?
- A carpenter takes a class and learns to use a new power saw. Which is the human capital and which is the capital good?
- A window washer gets a longer pole and practices with it. Why might she earn more now?
Answers: 1) $18 (6 × 3 = 18). 2) The skill learned in the class is human capital. The saw is the capital good. 3) Answers vary. Look for: she can wash more windows in the same time, so her productivity is higher and she can earn more.