βοΈ Week 5: Trade-offs & Choices (Economic Thinking)
Students deepen their understanding of economic thinking by exploring how scarcity forces trade-offs. Through role-play, budgeting, and reflection, they experience making difficult choices when resources are limited.
Focus Question
How do scarcity and trade-offs shape decisions?
π― Learning Intentions
- Understand what trade-offs are and why they exist
- Experience making choices under scarcity
- Create and manage a budget with limited resources
- Reflect on the reasoning behind choices
β Success Criteria
- I can explain what a trade-off is
- I can make decisions when resources are limited
- I can create a budget that covers essentials
- I can explain why I made my choices
π Curriculum Links
- Social Studies: Understand economic decision-making
- Mathematics: Budgeting and financial literacy
- English: Write explanatory paragraphs
NgΔ Mahi - Week 5 Activities
1. Role-Play: Disaster Scenario (25 mins)
Activity: Use the Trade-offs Role-Play handout. Students role-play choosing between investing in water, food, or shelter after a disaster.
- Scenario: Natural disaster has struck, resources are limited
- Groups must choose: invest in water, food, or shelter
- Each choice has consequences - discuss trade-offs
- Groups present their decisions and reasoning
- Debrief: What trade-offs did you make? Why?
2. Numeracy: Budgeting Task (25 mins)
Activity: Use the Budgeting Task - Limited Resources handout. Students have limited $50 to cover 3 essentials.
- Students receive a list of items with prices
- Must choose 3 essentials within $50 budget
- Calculate total cost and remaining money
- Justify choices: Why these 3? What did you give up?
- Extension: Vary the complexity (add constraints, transport costs)
3. Literacy: Choice Reflection (20 mins)
Activity: Use the Choice Reflection handout. Students write a paragraph explaining why they made their choices.
- Reflect on the role-play and budgeting decisions
- Write about: What trade-offs did you make? Why?
- Connect to unit concepts: scarcity, choices, consequences
- Share reflections in pairs or small groups
4. Video: Trade-offs & Opportunity Cost (15 mins)
Activity: Watch videos about trade-offs and economic choices.
Opportunity Cost & Trade-offs
Source: Khan Academy Economics
Before, During & After Watching
Before watching: What is a trade-off? Give an example from your life.
During: Note examples of opportunity cost. How does scarcity force trade-offs?
After: Think-Pair-Share: How do trade-offs connect to food scarcity?
π‘ Differentiation Strategies
- Lower support: Provide simpler scenarios, pre-calculated options, work in pairs
- Extension: Vary the complexity of trading (add constraints, transport costs, cultural rules)
- Cultural connection: Discuss how whΔnau make financial decisions, connect to values and priorities