4th Grade Business Unit 2014-2015
Overview:
As an introduction to economics and the world of commerce, students will design, implement and run a mock business. Students will work in groups of two to three students. Students are given a spending limit of no more than $10 per student for purchasing materials for products.
Common Core Standards:
- Read with sufficient accuracy and fluency to support comprehension.
- Read grade-level text with purpose and understanding.
- Explain events, procedures, ideas, or concepts in a historical, scientific, or technical text, including what happened and why, based on specific information in the text.
- Determine the meaning of general academic and domain-specific words or phrases in a text relevant to a grade 4 topic or subject area.
- Describe the overall structure (e.g., chronology, comparison, cause/effect, problem/solution) of events, ideas, concepts, or information in a text or part of a text.
- Write opinion pieces on topics or texts, supporting a point of view with reasons and information.
- Introduce a topic or text clearly, state an opinion, and create an organizational structure in which related ideas are grouped to support the writer’s purpose.
- Provide reasons that are supported by facts and details.
- Provide a concluding statement or section related to the opinion presented.
- Produce clear and coherent writing in which the development and organization are appropriate to task, purpose, and audience.
- Develop and strengthen writing as needed by planning, revising, and editing.
- Use technology, including the Internet, to produce and publish writing as well as to interact and collaborate with others;
- Engage effectively in a range of collaborative discussions (one-on-one, in groups, and teacher led) with diverse partners on grade 4 topics and texts, building on others’ ideas and expressing their own clearly.
Components:
- Identify the difference between goods and services
- Define and use economics related vocabulary
- Develop a business plan:Including deciding on products, pricing as well as coming up with a business name, logo and brand statement.
- Write a persuasive business letter: draft a letter to an imaginary bank (teacher) requesting start up costs for your business. Introduce yourself and business. Describe your goals and provide three reasons why the bank should invest.
- Prepare products and make a price list
- Create Advertisements: Including flyers, poster boards, PowerPoint Slide and commercial
- Keep track of expenses and profits made
- In addition to the development of their businesses, students will have stories and activities in Social Studies to help them understand economic terms and processes.
Timeline:
Week of 11/17 - Introduction to the business project and begin developing business plan. As part of the business plan, groups will create a schedule to plan how they will complete everything for their grand opening on 12/18.
Week of 12/1 - Begin persuasive letter to bank owner. Work on Economics Packet. Develop Products Letters due by Friday, 12/5.
Week of 12/8 - Continue to prepare products. Create advertisements for business. One student from each group should bring in a posterboard by Tuesday, 12/9. Business vocabulary due on Thursday 12/11.
Week of 12/15 - Mall is open for business from Tuesday - Thursday. Parent shopping will be on Thuesday, 12/18. Time is TBD.
