Dear Grade 3 Families,
We begin our second unit of inquiry this week, How We Organize Ourselves. The central idea is “The value of products and services we exchange is determined by supply and demand.”
We will inquire into:
- The history of exchange
- Supply and demand
- Why prices vary from shop to shop and in different countries
During this unit we will focus on the following profiles, attitudes and concepts:
Profiles: risk-takers, principled, reflective
Attitudes: commitment, integrity
Key concepts: form, function, and connection; Related concepts: systems and interdependence
Skills: self-management, social, communication
Third graders will investigate how systems of exchange have changed over time, and look at the reasons behind the evolution to our current monetary system. We ask you to support your child by initiating conversations as you shop, perhaps barter, and do your weekly exchanges. Students will also learn about the relationship of supply and demand, and why prices vary.
At the conclusion of our unit, we will invite parents, students, and teachers from other grade levels to attend a business fair. Students will create their own products for resale at the Grade 3 business fair. They will consider which resources are readily available, apply what they have learned about supply and demand, and perform market research to help them develop a successful product.
Thank you for your support,
The Grade 3 Team