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Summary and Objective
Students will understand that economics has basic concepts such as, supply, demand and interdependence. This understanding will be accomplished after the reading of the Oxcart Man by Donald Hall, and discussion of the topic, and viewing the online museum of artifacts from that time period. They will then show understanding of the economic concepts of supply, demand and interdependence through their completion of an activity about their own personal supply, demand, and interdependence situations in this time period.
Teaching Plan
Step 1.
. Brainstorm the concepts of supply and demand in general. "What does supply, demand and interdependence mean?" Teacher should write all student responses on the board. They will then discuss what the economic concept of supply, demand, and interdependence are and discuss it.
Step 2.
Teacher will then read "Oxcart Man" by Donald Hall to the students.
Step 3.
The teacher will then ask the students what the oxcart man had a supply of and then show the students from the archive pictures the actual objects from the time period. The teacher will then ask the students what the oxcart man and his family had demands for, where he got them from and if they really needed everything. Also the teacher could discuss how the people of the town had demands and what they were. The teacher should then have the students realize that no one in this time period could be independent. Lastly, they should then discuss how in the story we can examine the instances where we will have interdependence in the story.
Step 4.
The teacher can then talk about the barter and monetary exchange systems of the time period. They can use the Account Book in the collection of items to start a discussion of how people of the time period used account books and how people used the trading of goods and services to get the items they demanded. Secondly, they should discuss how people of the time period were unable to be independent in their supply and demand situations and that interdependency was a way of life for the people of the ox-cart man's time period.
Step 5.
The teacher can then discuss the exchange for goods and services system of today. They could discuss basic monetary systems, and the world economic situation. It should be noted that the global economic system is based on interdependency throughout the world.
Step 6.
Lastly, the students can relate their own lives supply and demands, and their own interdependencies for goods today and how they can get those goods, even as children. They could discuss chores, allowances, working, and exchanging things for things they want and need. The teacher can then have the students write responses to a number of questions. Compare your wants and needs compared to children of the ox-cart man's children? How do you get the things you need in life? What would be an example of a modern account book be or look like? Discuss the concept of interdependence found in your lives? Who are you dependent on and why?
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