Typical Course of Study
World Book Learning Resources suggests typical courses of study for Kindergarten through 12th Grade. The course of study for 1st Grade is the value of a penny, nickel, dime and quarter.
First Grade Financial Concepts
The Fifty Nifty Econ Card program from the Federal Reserve Bank of Kansas City includes recommendations on concept introduction for grade levels K through 6. Here are the recommended concepts for 1st Grade:
- Resources: things used to make goods and services
- Barter: to trade goods and services without using money
- Money: a good used to buy other goods and services
- Earn: to receive money for doing work
- Spend: to use money to buy goods and services
- Save: to keep money to spend later
Strand 5: Economics, The Social Studies Standard as of May 22, 2006
State of Arizona, Standards and Assessment Division
Concept 1: Foundations of Economics
The foundations of economics are the application of basic economic concepts and decision-making skills. This includes scarcity and the different methods of allocation of goods and services.
Concept 1 Performance Objectives for the 1st Grade
- PO 1. Discuss the difference between basic needs and wants.
- PO 2. Recognize that people need to make choices because of limited resources.
- PO 3. Recognize that some goods are made locally and some are made elsewhere.
- PO 4. Recognize that people are buyers and sellers of goods and services.
- PO 5. Recognize various forms of U.S. currency.
- PO 6. Recognize that people save money for future goods and services.
Concept 5: Personal Finance
Decision making skills foster a personís individual standard of living. Using information wisely leads to better informed decisions as consumers, workers, investors and effective participants in society.
Concept 5 Performance Objectives for the 1st Grade
- PO 1. Discuss reasons for personal savings.
Kids' Money > Teachers > 1st Grade