Uncle Jed's Barbershop

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Uncle Jed's Barbershop

Description:

Students listen to the book Uncle Jed's Barbershop, about an African-American barber who, despite significant setbacks, saves enough money to buy his own barbershop. From the story, students learn about saving, savings goals, opportunity cost, and segregation. The students participate in a card game to further investigate what it takes to reach a savings goal.

Education Levels:

3, 4, 5, 6

Subject:

Economics, Literature

Resource Type:

Lesson plan

Fee Status:

Free

Online provider:

Federal Reserve Bank of St.Louis

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Keywords:

Savings, Financial literacy, Mitchell, Margaree King, Barbershops, Opportunity cost, African Americans, Segregation

Mediator:

Elementary school teachers

Publisher:

Federal Reserve Bank of St.Louis

Contributor:

Andrew T. Hill

Is Part Of:

http://www.stlouisfed.org/education_resources/lesson_plansgem-8.cfm

Language:

English

Subjects/Topics

P21 Subject:

Language Arts, Financial, Economic and Business Literacy, Economics, English

Learning Outcomes:

Conforms To

Voluntary National Content Standards in Economics (1997)

Standard 1: Scarcity
Productive resources are limited. Therefore, people can not have all the goods and services they want; as a result, they must choose some things and give up others.

Students will be able to use this knowledge to:
Identify what they gain and what they give up when they make choices.

At the completion of Grade 4, students will know that:

7. The opportunity cost of a choice is the value of the best alternative given up.

Conforms To

Voluntary National Content Standards in Economics (1997)

Standard 1: Scarcity
Productive resources are limited. Therefore, people can not have all the goods and services they want; as a result, they must choose some things and give up others.

Students will be able to use this knowledge to:
Identify what they gain and what they give up when they make choices.

At the completion of Grade 4, students will know that:

6. Whenever a choice is made, something is given up.

Conforms To

Voluntary National Content Standards in Economics (1997)

Standard 10: Role of Economic Institutions
Institutions evolve in market economies to help individuals and groups accomplish their goals. Banks, labor unions, corporations, legal systems, and not-for-profit organizations are examples of important institutions. A different kind of institution, clearly defined and enforced property rights, is essential to a market economy.

Students will be able to use this knowledge to:
Describe the roles of various economic institutions.

Uncle Jed's Barbershop

Uncle Jed's Barbershop

Subjects/Topics

Learning Outcomes:

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