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A similar lesson on decision making with Opportunity Cost

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Subject(s): Other, Social Studies Grades(s): Grades 2-3

Christinia Dunham

Title: Chocolate peas or chocolate chicken?

Grade: 2nd-3rd

Length: 45 minutes

Performance Expectation:

The students will define opportunity cost of a decision as what

has been given up.

Materials:

The poem Charlie’s Chocolate Choices, the journal attached to

the lesson plan called Charlie and My Opportunity Cost, crayons,

and a pencil.

Procedures:

Introduction:

1. Begin the class with the poem called Charlie’s Chocolate Choices.

2. After the poem has been read, ask the class what they think

they are going to be learning about.

Development:

1. Ask the class to name the nine things Charlie had to choose

from in the poem, one child at a time, while the teacher lists

them on the board and the students write them on their first journal

worksheet.

2. After all nine of the items have been listed on the board,

ask the class the following questions:

a. Could Charlie make all nine items with chocolate?

b. Why or why not?

c. What did Charlie have to do?

3. The last question will lead into a discussion about making

a choice. Write the word choice on the board and discuss, as a

class, what the word means.

4. Explain to the class that Charlie has a problem, he can’t choose

which of the nine to make, so they need to help him. Their job

will be to choose two items for Charlie.

5. They will then draw their first choice on the journal worksheet

labeled Charlie’s first choice and their second choice for Charlie

on the worksheet labeled Charlie’s second choice. On the worksheets,

the students will need to list why they chose the object to be

their first and second choice. Make sure the class understands

that their first choice is the one they want Charlie to make.

6. Choose two to three students by pulling tongue depressor sticks,

with their names on them, from a cup. Make sure that those students

who do not feel comfortable getting in front of the class are

not among the names.

7. The students chosen will present their drawings to the class

as well as explain why they chose each choice for Charlie. With

each student, ask the following questions:

a. What did you choose for Charlie’s first choice?

b. What would he choose to make if he couldn’t have the first

choice?

c. When Charlie picked the first choice you chose for him, did

he give something up? If so, what was it? (second choice)

8. After each student has presented their drawings, reveal to

the class that what they have been doing is called opportunity

cost.

9. Ask the students if they have any ideas of what opportunity

cost really means.

10. If no one in the class knows the definition, explain that

the one thing Charlie gave up, which was his second choice, in

order to get his first choice is called opportunity cost.

11. Have the students now work individually on the rest of the

worksheets in the journal. Explain that on the fourth page they

will construct their own story or poem, like Charlie’s, about

their nine favorite pieces of candy. Next they will draw their

first choice and tell why they chose it. Then, on the next page,

they will draw and explain their second choice. On the last page

they will write what the word opportunity cost means to them,

their definition.

Closure:

1. Draw two to three different students from the cup.

2. Have these students present their story or poem and choices

to the class.

3. Have each student share their explanations about why they made

the choices they did to the class.

Assessment:

1. Have each student turn in their journal.

2. Look through their journals, make sure that each worksheet

is completed.

3. Focus on their explanation of what opportunity cost means to

them. Make sure that each child has the right idea or close to

the right idea on what opportunity cost means. Those that are

still confused could be pulled aside and taught in a different

manner or if the situation is minor, review the topic again the

next day.

Adaptations:

1. For those students who do not have good writing skills, you

could:

a. Alter the worksheets and have them draw more.

b. Have them use short phrases or words instead of full sentences.

c. Have them do their best and pull them aside if there needs

to be a clarification.

2. Keep their journals, throughout the unit on opportunity cost,

in their portfolios. Complete more opportunity cost activities

to be added to their journals. As each student’s knowledge about

opportunity cost increases, have them add a new statement to their

definition worksheet in their journal.

References:

Coulson, E. C. & McCorkle, S. (1992). Economics for the elementary

classroom. Ballwin, MO: SPEC Publishers.

Dunham, C. (1997).


Charlie’s Chocolate Choices

Chocolate, chocolate, for chocolate’s sake,

Give me chocolate so I can make

Chocolate liver, chocolate peas,

Chocolate biscuits, if you please.

Chocolate squash with chocolate chicken,

Make a meal that’s finger lickin’.

Chocolate donuts, chocolate bars,

Chocolate cakes and chocolate stars.

I want these all for my desserts

I’ll eat until my stomach hurts.

Alas, there is not near enough

For me to make all of this stuff.

So now I know that I must choose;

I’ll make just one, the next I’ll lose.

Journal

1. Title page:

Charlie and (their name) Opportunity Cost

2. First worksheet:

List the nine things that Charlie wanted to make.

*Add nine number spaces to the page for them to fill in.

3. Second worksheet:

Help, Charlie can’t decide! Draw the item you think Charlie should

choose as his first choice.

Why did you choose this?

*The page should be divided so that they have half of the page

to draw and the other have to answer the question.

4. Third worksheet:

Help, Charlie can’t decide! Draw the item you think Charlie should

choose as his second choice.

Why did you choose this?

*Again, divide the page in half devoting half of the page for

their drawing and the other half for their reply.

5. Fourth worksheet:

The story about my nine favorite pieces of candy.

*Add lines to the page for the students to write their story.

6. Fifth worksheet:

Draw your first choice.

Why did you choose it?

*Same as the directions from numbers three and four.

7. Sixth worksheet:

Draw your second choice.

Why did you choose it?

*Same as the directions from numbers three and four.

8. Seventh worksheet:

What does opportunity cost mean to you?

*Add lines to the page for the students to write on.

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