Category: Home Schooling

21 May 2020 12:37

Joined:	20/11/2018
Level:	Bronze
Points:	97

Points:	5

Do you ever teach Economics to your 5 year old kid?

To be honest, i heard about economics only at the age of 15. But after learning economics as one of my subjects I felt it was too late to learn such an awesome subject I even wondered, why I did not come across this subject in my primary and secondary schools.

Like Math, science and civics, economics is also a subject that is necessary to our life and we cannot pass a day without them. Economics are considered as National finance, annual budgeting and 5 year plans etc. But in simple definition, economics is all about money and money management. So, now tell me, isn't it required to teach economics at an younger age?

Now, I am looking for my fellow members to suggest, what should be covered in a 1st grade economics syllabus?

I suggest

Basic Needs of Human life
What is the difference between Need and Want?
How do we fulfill our Needs and Wants?
piggy Bank stories

Activities:
Gift them a piggy bank
Ask your children to tell what are their wants.
Ask, "Will they sacrifice their needs for Wants?"
Give them a piggy bank

#2111

21 May 2020 15:15

Joined:	29/04/2020
Level:	Gold
Points:	1372

Points:	5

Very nice thread from the author. Though I am economic student, I never felt the need for teaching the economics to my children at the young age but when they are growing up and when studying higher classes, the importance of basic needs of human life were taught to them as parent. I always advised the children not to seek those wants which are not reachable to our family and as human being our wants are unlimited and we have to trend the life within the circle and my children were cooperating. I used to say my kids not to depend on others sources and money and we have to earn our own no matter even it is small amount. And both my children are good savers and they would never spend the money. When they get money from relatives and elders during festivities and birthday gifts, they would save the money in their piggy bank.

K Mohan Platinum member ISC Ranked 3
Child has every reason to play and ask questions

#2113

21 May 2020 19:52

Joined:	29/11/2011
Level:	Silver
Points:	176

Points:	4

We are teaching about money from the early child hood days. This is our culture followed by our elders from ancient days. Whenever we visit a house to see the new born baby for the first time, we give some currency note to the toddler's hand.
So we already have about money in first standard as a part of syllabus but it is included in maths subject. Wants and needs are spoken according to the need of the contents. Sacrifice is added in value education through stories along with their moral to build the social behaviour of children.

#2133

24 May 2020 08:49

Joined:	03/05/2020
Level:	Bronze
Points:	85

Points:	4

AS the thread is on Grade 1 Syllabus, let me put in that we have a Topic 'Money' In mathematics in the CBSE syllabus in grade 1, also pointed out by Sharada. Though , necessities and wants are not in it, still students do learn a little bit on money and that they need money to spend on their toys and chocolates. The idea of saving is also instigated and many schools have the piggy bank activity as part of their craft session.
A first grader is just acquiring knowledge about his body parts, houses, air and water. So putting him too much into wants and needs will not be advisable, atleast that is what I feel. Rather the subject can be introduced towards 5th or 6th instead of directly putting in 9th as per the current system.

#2134

24 May 2020 12:12

Joined:	26/04/2020
Level:	Gold
Points:	555

Points:	4

Economics is a great subject. Now question is whether we should expose our children to it or not. I think we must expose them in subtle ways. As one member told that what is money is explained to them. I would suggest that we can give them dummy coins and then one of them can become a shopkeeper and sell some goodies say in form of toys or pencils etc to other children and find out how much he had earned from that. So, there are some practical things that can be attempted to teach the children about the money and it's value.

#2140

24 May 2020 13:15

Joined:	20/11/2018
Level:	Bronze
Points:	97

Points:	1

As Shrarada and Sharmistha mentioned, many of us aware that the topic money is introduced in first grade itself. But under mathematics, it is taught, the value of money like what is paise and what is rupee and how to calculate with arithmetic.

The idea of introducing economics through the topic needs and wants is , to make the kid understand the need for money. True that, my suggested topics can be covered under different names in other subjects, but making it clear in the name of Economics may make the kid understand the materialistic world is around this concept only.

Do you ever teach Economics to your 5 year old kid?

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