We have always used folktales and fables to teach life lessons in elementary. But, these stories are also a great foundation for teaching economic concepts. Creating fairytale economic lessons is a great way to connect new learning to old.
Folktales are Global
Folktales and fables exist in every country around the world. This is true because storytelling is the way to pass down important lessons, traditions, and values from generation to generation. These stories reflect the shared beliefs of a society.
Teaching Economics with Folktales
Many of these stories feature familiar themes like hard work, fairness and decision-making. These are all ideas that your students encounter in everyday life. By linking these well-known stories to new economic concepts, you can help your students better understand: Wants & Needs, Scarcity, Producers & Consumers and Opportunity Cost.
Wants & Needs in Economics
Most Kindergarten and 1st Grade economic objectives begin with this concept. Needs and Wants are the basis of the economy. By using these well-known stories, teachers can spark meaningful discussions. This helps kids connect these lessons to real-life choices.
Here are a few fairytale economic lesson stories:
- Goldilocks and the 3 Bears
- The Fisherman and His Wife
- The Dog and His Reflection
- The Crow and the Pitcher
- The Magic Pot
Scarcity Lessons
Scarcity is a concept that pops up again and again. Characters in stories are often poor. The families struggle to meet their basic needs. This real-life battle of economic decisions helps children see that resources are finite.
Here are some good stories you can use to illustrate scarcity:
- Hansel and Gretel
- The Ant and the Grasshopper
- Stone Soup
- The Apple Dumpling Story
- City Mouse and Country Mouse
Producers and Consumers
Some stories highlight hard work by showing how producers must invest their time and effort to create goods. Other stories focus on characters who want to enjoy product without contributing. This illustrates the balance between production and consumption.
A list of books that show Producers and Consumers you can use:
- The Little Red Hen
- The Elves and the Shoemaker
- How the Camel Got His Hump
- The Tale of Two Bakers
- The Magic Pot
Opportunity Cost
Young kids often have trouble with this concept. These stories help students see that every choice has a trade-off. Many folktales feature characters faced with hard decisions- whether to take an immediate reward or wait for a greater benefit.
Here is my favorite fairytale economic lessons stories:
- The City Mouse and Country Mouse
- Jack & the Beanstalk
- The Boy Who Cried Wolf
- The Cat and the Mice
- The Sheep and the Dog
Resources for Folktale Economic Lessons
Beginning with good resources is so important. Teaching is a huge endeavor. Just the day to day running of the classroom is a full-time job. Add behavior management, lesson planing and teacher meetings and you have an overbearing load. Let me give you a leg up with lesson crafting! Click on one of the covers to check into a resource.
I hope you grabbed a few ideas you could use.
Happy Teaching!
