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‘It’s a Small World After All: An Economic Experiment in Trade’ is a social studies unit for 3rd grade with an emphasis on economics. Aligned with 3rd grade social studies TEKS, student gain a rich understanding of scarcity, free market, and interdependence within and among communities. This unit utilizes a variety of resources including: Scott Foresman’s Social Studies: Communities Basal Reader, various real-life application internet activities and journal writing reflection opportunities. Students will have several formative assessments to track understanding throughout the unit. The culminating project-based assessment invites students to engage in a free trade simulation. With the guidance of the CIA Factbook website, students will represent countries and pretend they are restaurant owners creatively making food for a menu. The trade opportunity happens when students communicate and negotiate with one another to obtain the necessary ingredients for their entrées, appetizers, and desserts— a real-world application to understanding our world’s economic system.

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