Teresa Cruz & Belinda Hughes

TTE 327

Title: What Would You Give Up?

Subject/Grade Level/Date: Economics, 4th grade, March 24, 2015
Time Requirements: Approximately 30-40 minutes
Materials List:
Alexander, Who Used to Be Rich Last Sunday book
100 pennies (equal to $1.00)
Tape
Construction paper
Scissors
Pencils
Spending and Saving Song
What Happened to Alexanders Money Activity Sheet
Type of Lesson: Whole group, inquiry, inferences, cooperative
Connection to Standards:
Common Core/Arizona College & Career Readiness Standards

4.RL.1: Refer to details and examples in a text when explaining what the text says explicitly and when
drawing inferences from the text.
4.RL.7: Make connections between the text of a story or drama and a visual or oral presentation of the text,
identifying where each version reflects specific descriptions and directions in the text.
4.SL.1: Engage effectively in a range of collaborative discussions (oneonone, in groups, and teacherled)
with diverse partners on grade 4 topics and texts, building on others ideas and expressing their own clearly.
4.SL.2: Paraphrase portions of a text read aloud or information presented in diverse media and formats,
including visually, quantitatively, and orally.
4.SL.3: Identify the reasons and evidence a speaker provides to support particular points.
4.SL.5: Add audio recordings and visual displays to presentations when appropriate to enhance the
development of main ideas or themes.

English Language Proficiency Standards

Listening & Speaking (Standard 1)

B-2: Responding to read alouds (fiction and nonfiction) by identifying main ideas/concepts and supporting
details in complete sentences.
B-3: Using sentence frames to sequence events from read alouds, presentations and conversations in
complete sentences.
B-5: Responding to academic discussions by sharing ones view on facts, ideas and/or events using
academic vocabulary.
B-8: Responding to social conversations by rephrasing and repeating information, sharing ones
experiences, and expressing ones thoughts.
(Standard 2)
B-4: Participating in social conversations with familiar and unfamiliar people; sharing personal
information, experiences, opinions, abilities, and needs using complete sentences.
B-7: Sharing personal experiences/stories supported by details and examples in complete sentences.

Teresa Cruz & Belinda Hughes

TTE 327

Instructional Objective:
Students will be able to explain and apply the concept of opportunity cost in connection to
money and daily life choices.
Language Objective:
Students will be able to identify and summarize the main idea of opportunity cost in connection
to Alexander, who Used to be Rich Last Sunday
Active Instructional Plan:
Anticipatory Set:

Questions:

Modeling:

Teacher Behaviors
Write vocab word,
opportunity cost on the
board. Ask students to define
each word as a table group.
Bring the class back together
after a few minuets and create
a class definition.
Opportunity: the chance to do
something
Cost: payment for something
Talk about how opportunity
cost is the cost you pay for
the chance to do something.
Does opportunity cost occur
only with money and
purchases?
What are some examples in
the classroom of opportunity
cost?
Do people normally carry
around 100 pennies?
What is another way to
represent 100 pennies in a
different money form?
What is the benefit of coins
vs. paper money?
Demonstrate how to trace
hand on paper and cut out.
Set-aside for now.
Scenario: You have $40 to
spend on anything you want.

Student Behaviors
Students will be seated facing
the board, listening quietly to
instruction. During table talk
they will be quietly talking
and listening to each other to
create a definition for
opportunity cost that they all
agree on.

Students will be expected to

answer questions throughout
the lesson to gage their
involvement and
understanding of the concept
opportunity cost and money in
general.

Students will be expected to

participate when asked
questions and listen to
instruction from teacher as the
assignment is modeled.

Teresa Cruz & Belinda Hughes

TTE 327

Guided Practice:

Independent Practice

Closure:

On a piece of paper list four

items you would like to buy.
Give few moments to write.
Now choose your top two
choices and number them #1
and #2.
Take your paper hand and
write on one side your number
#1 choice, flip the hand and
write your #2 choice.
Teacher will walk around and
monitor students progress
giving assistance where
necessary.

Teacher will instruct students

to share their hands with their
tables. They will phrase their
talk by using this sentence
format. If I had $40 I would
buy (#1 choice), my
opportunity cost for buying
this would be (#2 choice).
Bring students to carpet,
explain that we will be
reading, Alexander Who Used
to Be Rich Last Sunday. As we
are reading it they should be
looking for example/s of
opportunity cost.
Have a strip of 100 pennies on
a piece of tape. During the
book as Alexander spends his
money, a student will come up
and count off the same number
of coins on the strip and then

Students will now reproduce

the instructions from the
modeling portion of the lesson
for themselves. Students will
individually grab a piece of
paper and scissors to trace and
cut their hand shape.
Students will write a list of
four items on a sheet of paper
of items they would want to
buy. They will pick their top
two choices and write them on
their paper hand. Write their
names on the bottom of the
hand.
Student will share with their
tables their opportunity cost
hands. They will phrase their
talk by using this sentence
format. If I had $40 I would
buy (#1 choice), my
opportunity cost for buying
this would be (#2 choice).
Students will be expected to
listen and critically analyze the
book for example/s of
opportunity cost. They will
also participate in throwing
away the coins, and
cooperatively saying,
Goodbye number cents in
a pretend trash can.

Teresa Cruz & Belinda Hughes

TTE 327

Assessment/Evaluation:
Modifications/Differentiation:

rip them off and throw them in

the trash. All the students
will say, Goodbye number
cents while the coins are
thrown away. On the mimeo
the teacher will also shade in
the amount of coins each item
cost on the bar chart.
Optional: Sing Song,
Spending and Saving to the
tune of On Top of Old Smoky
Students will look for and describe examples of opportunity
cost in the book, Alexander Who Used to Be Rich Last Sunday
and in their everyday classroom, during a group conversation.
Pre-cut opportunity cost hands for students who have diverse
abilities.
For the teachers example hand, include pictures of the 1st and
2nd choice. Also including pictures for the fake $40 dollars in
increments of $5.
Sentence frames for phrasing your opportunity cost items for
students with ELP or IEP goals.

Citations:
Alexander, Who Used to be Rich Last Sunday by Judith Viorst (Aladdin Paperback/Scholastic
Inc.)
Thomas R. Brown Foundation