1st Grade New York

Economic Choices

This first-grade inquiry features an investigation of economic decision making through the context of how families manage their money. In examining the costs and benefits associated with making decisions about spending and saving money, students should be able to develop an argument with evidence to answer the compelling question “What choices do we make with our money?”

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Compelling Question:

What Choices Do We Make with Our Money?

Staging the Question: Discuss the construct of “choice” and how it is influenced by the money we have.
1

Supporting Question How do families gain money?

Formative Task List an example and a non-example of a method for obtaining money.

Sources Source A: Image bank: Earning money? You decide!

2

Supporting Question What do families choose to spend money on?

Formative Task Brainstorm the choices families have in using their money.

Sources Source A: “Cha-Ching: Earn, Save, Spend and Donate”
Source B: “What Is a Budget?”

3

Supporting Question Why do families choose to save money?

Formative Task Draw and label a two-sided picture showing the pros and cons of saving money.

Sources Source A: “The ABC’s of Savings” Source B: “How to Use Savings”

Summative Performance Task

Argument: What choices do we make with our money? Construct an argument supported with evidence that addresses the question of how families make economic choices.
Extension: Participate in a class discussion about the pros and cons of spending for a short-term goal versus saving for a long-term goal.

Taking Informed Action

Understand: Survey family members about how they spend their money.
Assess: Brainstorm a list of ways students can help their family save money.
Act: Create a poster to promote a money-saving strategy to be displayed outside the classroom.