2.8 OVERVIEW

The student will distinguish between the use of barter and money in the exchange for goods and services.

SUGGESTED INSTRUCTIONAL STRATEGIES

• Ask the students to list some wants they have and write them on their paper. Have individual students read their wants and ask the students how could they get or consume these wants. Ask the students if they can determine what the term consume means. Explain that it is a person who uses goods or services (consumers).
• Explain to the students that we are all consumers who decide what goods and services to use to satisfy our wants. Have the students draw a self-portrait and label it consumer. Post the classroom portraits of the consumers for all the students to see.
• Use a chart and have the students list three goods and three services they have consumed or used in the last few days. Have the students illustrate the examples of the goods and services they have used.
• Have the students share their consumer goods and services charts with the class and post the charts on the bulletin board under each student’s self-portrait.
• Explain to the students that people can exchange their money (coins, paper, and checks) for the goods and services they need and want. Coins and paper money are referred to as cash.
• Have the students describe times they have used coins or paper money to pay for a good or service. Explain that checks adults use are a written permission directing a bank as instructed to pay money from a person’s bank account. Checks and money cards are often easier to handle and safer to store than large amounts of cash.
• Read a teacher-selected book about the exchange of money for goods and services.
• Introduce the term barter and give the definition as the exchange of goods and services without the use of money.
• Explain that sometimes people trade goods and services for other goods and services. The exchange of one good or service for another is called barter. Sometimes children collect and trade items such as baseball cards.
• Explain that barter is a more complicated method of trading because it involves both parties wanting what the other has to trade.
• Have the students recall the units they studied on ancient China and Egypt and the American Indians (First Americans). Ask the students to remember if they read or learned about bartering as a method of trade within those groups.

WEB SITES

http://cob.jmu.edu/econed/Elementary.htm
Here are online lessons for elementary economics from the James Madison University Economic Education Department.

http://www.mcps.k12.md.us/curriculum/socialstd/Econ_Geog.html
Sample elementary economic books and lesson plans are included at this site.

http://www.economicsamerica.org
The National Council of Economic Education has many outstanding resources.

http://www.pen.k12.va.us/VDOE/Instruction/info.pdf
The Primary Knowledge of Economics is an excellent resource.

http://www.vcu.edu/busweb/vcee
This is the Web site of the Virginia Council of Economic Education.

http://www.kidseconposters.com/econsongs.html
Liven up economics education with songs and posters.

http://chumby.dlib.vt.edu/melissa/posters/
Social Studies curriculum poster sets are available at this Web site.

http://www.fte.org/
Thisis the Web site for the Foundation for Teaching Economics.

LITERATURE LINKS

The use of barter and money to acquire goods and services

Cooper, Jason.
Money Through the Ages. The Rourke Book Company, Inc., 2003.
This book discusses ways of paying for goods and services from the barter system to present day electronic transactions.