ALEX Lesson Plan


Personal Economics

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  This lesson provided by:  
Author:Chris Hollingsworth
System: Shelby County
School: Shelby County Board Of Education
  General Lesson Information  
Lesson Plan ID: 3192


Personal Economics


Students will be able to explain the various services available to protect consumer rights. They will develop a PowerPoint presentation in their student achievement teams which contains the required information along with a question section. This presentation will then be used in class for a review activity prior to testing.

 Associated Standards and Objectives 
Content Standard(s):
Social Studies
SS2010 (2010)
Grade: 7
8 ) Appraise the relationship between the consumer and the marketplace in the economy of the United States regarding scarcity, opportunity cost, trade-off decision making, and the stock market.

•  Describing effects of government policies on the free market
•  Identifying laws protecting rights of consumers and avenues of recourse when those rights are violated
•  Comparing economic systems, including market, command, and traditional
Unpacked Content
Strand: Economics, History, Civics and Government
Course Title: Civics
Evidence Of Student Attainment:
  • Draw conclusions about the relationship between the consumer and the marketplace in U.S. economy.
Teacher Vocabulary:
  • supply and demand
  • free enterprise
  • market economy
  • command economy
  • traditional economy
  • mixed economy
  • good
  • service
  • scarcity
  • opportunity cost
  • trade-off decision making
  • stock market
  • policy
  • regulations
Students know:
  • The following economies answers the three basic questions:
    • Traditional Economy
      • Goods are produced for the community based on traditional needs.
      • Individuals produce goods based on custom.
      • They produce for themselves and the community.
    • Market Economy
      • Goods are produced based on consumer demand.
      • Individuals and businesses are free to choose how items are produced.
      • Goods are produced for the customer in hopes of gaining a profit.
    • Command Economy
      • The government decides what goods will be produced.
      • The government decides how goods will be produced.
      • Goods are produced for the purposes of the government.
  • The U.S. economy is based on principles of free market. Due to the effect of government policies and regulations, the U.S. economy resembles a Mixed Economy. U.S. laws that protect employees include minimum wage, safe work conditions, and child labor laws. Some U.S. laws that protect the consumers are food labeling requirements and safety features on cars. Consumers who have problems with products can register complaints with the government or seek recourse under the judicial system.
  • The U.S. stock market is a gauge of U.S. economic health. When the stock market is strong, it influences businesses to invest and expand (increase in profit leads to employment, rise in consumer confidence ) When the stock market is weak, businesses are less likely to take risks which can affect the overall economic health of our country (loss of revenue, rise in unemployment rate, fewer new businesses created). Consumer behavior influences the fluctuation in the stock market.
  • The consumer is influenced by the following:
    • Scarcity- is a shortage or limited amount of resources like time, money, land, labor, capital et al.
    • Trade-off decisions- the alternative you face if you decide to do one thing rather than another. (Example: A farmer can grow corn or cotton. A student can attend University of South Alabama or University of North Alabama)
    • Opportunity cost — the cost of the next best use of resources when choosing to do one thing or another. (Example: Because the farmer grows corn, he cannot grow cotton. Because the student choose to go University of South Alabama, he does not cannot go to University of North Alabama).
Students are able to:
  • Define Traditional Economy, Market Economy, Command Economy, and Mixed Economy.
  • Understand how each Economy answers the three basic economic questions.
  • Identify the U.S. economic system.
  • Explain how the stock market impacts the Marketplace.
  • Relate the ideas of scarcity, opportunity cost and trade-off decisions to the consumer's role in the Marketplace.
Students understand that:
  • Scarcity, opportunity costs, and trade-off decisions influence the consumer's behavior causing changes in the marketplace and the U.S. stock market.

Alabama Alternate Achievement Standards
AAS Standard:
SS.AAS.7.8- Recall that consumers have to make decisions based on resources and scarcity; recognize examples of consumer and marketplace interaction; identifying economic systems, including market, command, and traditional.

Social Studies
SS2010 (2010)
Grade: 7
9 ) Apply principles of money management to the preparation of a personal budget that addresses housing, transportation, food, clothing, medical expenses, insurance, checking and savings accounts, loans, investments, credit, and comparison shopping.

Unpacked Content
Strand: Economics, Civics and Government
Course Title: Civics
Evidence Of Student Attainment:
  • Demonstrate the ability to manage money effectively through a personal budget.
Teacher Vocabulary:
  • calculate
  • estimate
  • principles of money management
  • budget
  • savings
  • checking account
  • income
  • expenses
  • insurance
  • taxes
  • comparison
  • shopping
  • credit
  • debt
  • investments
Students know:
  • Effective money management means that a citizen has to take into account that the money they make should be enough to cover expenses like housing, transportation, food, clothing, medical expenses, and insurance and this can be accomplished by making and following a budget.
Students are able to:
  • Estimate and calculate income and expenses in order to create a budget.
Students understand that:
  • Effective money management includes making a budget based on income and expenses.

Alabama Alternate Achievement Standards
AAS Standard:
SS.AAS.7.9- Identify the principles and purposes of a budget; identify wants and needs and recognize that each has a cost, including food, clothing, shelter, entertainment, utilities.

Digital Literacy and Computer Science
DLIT (2018)
Grade: 7
R6) Produce, review, and revise authentic artifacts that include multimedia using appropriate digital tools.

Unpacked Content
Evidence Of Student Attainment:
Students will:
  • produce a multimedia artifact.
  • review artifacts created by others.
  • revise an artifact based on peer or teacher feedback.
Students know:
  • feedback is important in a design process.
Students are able to:
  • create a multimedia artifact.
  • critique the work of others.
  • revise their work based on feedback received.
Students understand that:
  • much like the writing process, design of a multimedia artifact nets the best results when creators have the opportunity to be given feedback and revise as needed.

Local/National Standards:


Primary Learning Objective(s):

Students will be able to explain the role of government in protecting consumer rights. Students will be able to explain the role of private organizations in protecting consumer rights.

Additional Learning Objective(s):

 Preparation Information 

Total Duration:

Greater than 120 Minutes

Materials and Resources:

PowerPoint Guide - the teacher will prepare a guide for the students to use in order to guarantee pertinent information is found and included in the presentation
Notes - the students will use the notes from class to help fill in the PowerPoint outline
Textbook - students will gather information for the presentation from the textbook
PowerPoint Outline - 7 slide template handout for students to fill in prior to entry into computer lab (see attachment)

Technology Resources Needed:

computers, printer, Microsoft PowerPoint or other presentation software, LCD projector (optional)


Students must have been introduced to Microsoft PowerPoint prior to this unit in order to complete the task in the allotted time. If this is the first time for the students to use PowerPoint, an extra day will need to be allowed for basic instruction on how to use PowerPoint.

1.)The teacher will hand out the PowerPoint guide to the students and explain each requirement listed. The guide can be obtained by opening the PowerPoint included. Follow the instructions in the notes section of the first slide.

2.)The students will be given the seven slide outline handout and begin filling in important information which comes from the notes given in class and the textbook. The seven slide outline handout can be obtained by opening the PowerPoint included. Follow the instructions in the notes section of the first slide.

3.)Students are introduced to the material. Use the PowerPoint included to get an idea of the what the students should learn in this lesson. Each slide of the PowerPoint will explain requirements and options for successful completion of the presentation.

4.)The students will get into their teams and divide the areas required by the PowerPoint guide equally among the team members. For example: Each team member would put together the information for one slide.

5.)Upon completion of the slide outline, the group will clear the outline with the teacher before going to the computer lab or classroom computers.

6.)The students will go to the computer lab or classroom computers and begin entering the information from their outlines into PowerPoint.

7.)After the students have completed the PowerPoint presentations, they will present them to the class the next day. Teacher evaluation of presentation success will take place at this time.

8.)The class will participate in the presentations of each team of students and will answer the questions listed at the end of each presentation.

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Assessment Strategies

The most appropriate assessment of this activity would be a rubric developed by the teacher which evaluates the students' success in completing the activity and addressing all requirements.





View the Special Education resources for instructional guidance in providing modifications and adaptations for students with significant cognitive disabilities who qualify for the Alabama Alternate Assessment.