I want to be an Entrepreneur?
Mrs. Lori Porter’s Economics Lesson (4th Grade Social Studies) Print Lesson MS Word or PDF

I. Goal: Mission and Plan: I am a firm believer in hands on manipulative lessons for economics.

 

First, my students would create and advertise a chosen business while learning the meaning of the words entrepreneur, advertise, profit, and loss. My goal is for my students to understand how to develop a business, and then advertise it. It is critical for them to personally experience how entrepreneurship and financial literacy skills, go hand in hand. Using an iPad Air 2, I could purchase valuable apps that encourage money exchange, purchasing items and more. They could also create ads on the Ipad as well. They would have to create a business, and then advertise their business. Then the students would design a sign on the iPad to advertise their business with a logo, or catch phrase, etc. The students could also create the product, & exchange (play) money to purchase. The final aspect will be filming a commercial for viewing by the class.

 

Building a business, advertising and creating commercials can help students experience real world financial plans and economics lessons first hand. Money is a subject that students show an interest in because it is needed to survive. Together, you can help me with this quest to enrich financial literacy, entrepreneurship and economics lessons for my students. "You" are the key to make this entrepreneurship unit become a reality. Will you help my 4th graders with this opportunity?

 

II. Objective: The students will create and advertise a business while learning the meaning of the words entrepreneur, advertise, profit, and loss.

 

III. Expectations:   Identify the four basic questions all producers must answer (i.e., What will be produced? How will it be produced? For whom will it be produced? How much will be produced?) (E-1A-E5), Identify the terms profit and risk and give examples of risks that businesses take to make a profit (E-1B-E3),Describe the benefits of increasing one’s skill/knowledge and various ways to do so (E-1A-E8), Describe the basic concept of a market (e.g., exchange of goods/services between buyers and sellers) and identify ways of transporting goods (E-1A-E9)

 

IV. Materials needed: Ipad Air 2, Financial Literacy apps and play money. Need apps to help with Financial Literacy and counting money? See money app link here!

Materials I have in place: Computers, Small video camera, still camera, projector, white board or screen.


Computer Interactives to practice money counting and skills here! (Could be used in economic centers during math or Social Studies during this unit.)

 

V. Lesson Procedures

 

Note: If Ipad and apps are available, students could use valuable financial literacy and money apps to reinforce skills. Once students would have to create a business, they could advertise their business by would designing a sign on the iPad. The logo would include creating a logo, or catch phrase, etc. The students could also create the product, & exchange (play) money to purchase. The final aspect will be filming a commercial for viewing by the class.


Day One:

(1) Introduce words Entrepreneur, profit, loss, advertisement. Put words on a word wall.

(2) Explain to kids that businesses often take a risk in an attempt to make a profit.

(3) In centers, Students will be introduced to Ipad Air and Financial Literacy Apps. Discussions and activities with students exchanging money will be part of the centers, as well. The final center will be the computer center.

(4) Begin by asking students what makes a business operate successfully. Record these answers on chart paper or on a computer and display them on a presentation monitor. Tell students that they will be Entrepreneurs and create a pretend business today. Have them begin filling out part one of “I Want to be an Entrepreneur activity.”

Day Two:

(1) In centers, Students will be introduced to Ipad Air and Financial Literacy Apps. Discussions and activities with students exchanging money will be part of the centers, as well. The final center will be the computer center.

(2) Remind the students of the word Entrepreneur on the word wall and they are Entrepreneurs trying to make a profit.

(3) They will then give the words to their partner to unscramble and make a sentence with those words. Students will complete part one of “I Want to be an Entrepreneur activity”.

Days Three and Four:

(1) In centers, Students will be introduced to Ipad Air and Financial Literacy Apps. Discussions and activities with students exchanging money will be part of the centers, as well, as well as a computer center with financial literacy activities. The last center will be students collaborating for a commercial and their advertisement of their business.

(2) Explain to kids that businesses have to advertise to be able to make a profit (remind them of word wall).

(3) Students will create a commercial for their business by filling out part 2 of “I Want to be an Entrepreneur activity”. Have students practice and memorize the commercials.

Day Five:

(1) In centers, Students will be introduced to Ipad Air and Financial Literacy Apps. Discussions and activities with students exchanging money will be part of the centers, as well, as well as a computer center with financial literacy activities. The last center will be students collaborating for a commercial and their advertisement of their business.

(2) Students will use the small video camera to film their commercials and complete the checklist on “I Want to be an Entrepreneur activity”.
 

Day Six:

(1) If Ipad and apps are available, this could be done. In centers, Students will be introduced to Ipad Air and Financial Literacy Apps. Discussions and activities with students exchanging money will be part of the centers, as well. 

(2) Ask kids what are some other ways to advertise (remind them of word wall) their business (signs, etc).  (3) Have kids design a sign to advertise their business. 

(4) Watch commercials from previous day.  Grade on rubric on “I want to be an Entrepreneur” activity.  See included rubric.

 

Student Reflection:  I completed this lesson during my 45 minute Social Studies block.  It can also be adapted to Language Arts since there is letter writing involved.  Prior to this lesson, letter writing was taught to them in Language Arts.  By doing this flip camera activity, students learned the words entrepreneur, advertise, profit, and loss in context rather than memorization. 

 

Student Expectations: RUBRIC  

 

I.  Part One: Create your plans for a business.

 

1.     Discuss with your partner what is a business and write your own definition of a business:

 

2.  Brainstorm a list of businesses in the town of ______________:

 

3.     Think of a business you would like to set up in (insert city/town).  Write a letter to the mayor letting him know what kind of business you are setting up.  Be sure to include in your letter: 

 

     __________ How many people would work there?

    ___________What products or services you would provide?

    ___________Where you would get the money to start your new business?

 

Be sure your letter has a Greeting, Closing, and Signature.  Write your letter on a loose leaf paper.

 

4.     After you have finished your letter, make a drawing of what your business would look like on the back of the letter.

 

 II. Part Two: Create an advertisement for your new business.
 
With your partner, create a commercial for your business.  The commercial must have a theme that we talked about (example: I’ve heard it through the grape vine:  Champagne’s is a Grape place to shop).  
 
Theme:

  • We sell: 
     
  • Come by and visit us!!!  We are opening: ______________________________________
     
  • Design a sign that advertises your business.  The sign must be go with the theme of our commercial. 

 

III. Student Checklists

 

Student Checklist: 

_______My  letter includes how many people work there.

_______My letter includes the products or services I will provide.

_______My letter includes where I would get the money to start my business.

_______My  letter has a greeting, closing, and signature.

_______My letter has a drawing of my business on the back.

_______My commercial has a theme that goes with the sign.

_______My commercial is memorized.

_______My commercial can be understood on the video (loud).

_______My sign to advertise the business is neat.

 

 

Student Grade: (five points each)

_______The letter includes how many people work there.

_______The letter includes the products or services provided.

_______The letter includes where the money will come from to start the business.

_______The letter has a greeting, closing, and signature.

_______The letter has a drawing on the back.

_______The commercial has a theme that goes with the sign.

_______The commercial is memorized.

_______The commercial can be understood on the video (loud).

_______The sign to advertise the business is neat.