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Wisconsin Economic Standard D.8.4 Investment and Growth

  Describe how investments in human and physical capital, including new technology, affect standard of living and quality of life

Economic Concepts
Human capital  ||  Physical capital  ||  Standard of living  ||  Productivity

Links to Content Information

	The effects of economic growth on the standards of living of individuals - Includes an explanation for teachers and a student activity for grades 4-5.
	Encyclopedia of the New Economy presents definitions of Capital and Capitalism.
	Exploring Countries and Regions - This page links to World Bank information for regions of the world, including standard of living, economic growth, and much more.
	Material Life, Markets and Capitalism, Chapter 2 of Human Society and the Global Economy - After a brief look at the roles of tradition and command, this chapter examines the emergence of the market as a primary force in the orchestration of material life. It will then provide our first look at the nature of capitalism.

Links to Lesson Plans and other Suggested Teaching Strategies

	Developing a Financial Investment Portfolio - Grades 9-12; can be adapted for grades 7-8. Students are given scenarios for three individuals. They act as financial advisors and develop a financial investment portfolio for each client using internet references as they analyze the various saving options.
	Development Education Program - From the World Bank.  This page contains links to information for teachers and lessons to use in the classroom related to economic development.
	Martin Luther King Jr. Day - Students will explain how the legacy of Jim Crow impeded economic prosperity for African-Americans and how investment in human capital and willingness to seek new economic opportunities produced economic improvement for African-Americans.

List of Curricular Materials and Learning Activities

	Focus: Middle School Economics from Economics America (search catalogue), available from Economics Wisconsin.  Unit 3, Lesson 7: The T-Rrific T's Company: Production Decisions - Students help the managers of a T-shirt company make business decisions about the production process.  They analyze the costs and benefits of investing in new capital equipment in order to increase productivity.
	Econ and Me - Grades 3-6. An award-winning program of five 15-minute, sequentially arranged video lessons, each focusing on a specific economic concept: scarcity, opportunity cost, consumption, production, and interdependence.  Also included are two videotapes with background information for teachers.  From Economics America (search catalogue).
	Economics for the Elementary Classroom by Elaine C. Coulson and Sarapage McCorkle, 1982. St. Louis, MO: SPEC Publishers.  The following lessons for grades 2-6:      * Practicing Computation - pp. 177-180      * Widget Production - pp. 181-184
	Virtual Economics: An Interactive Center for Economic Education, Version 2 - Each exhibit includes teaching tips, background information, a list of lessons, and video and audio clips that give additional information about the topic.  Available from Economics America (search catalogue).  In section Fundamental Economics, see exhibit: Productivity In section MicroEconomics, see exhibit:  Income Distribution
	Focus on Economics: United States History, from Economics America (search catalogue), available from Economics Wisconsin.  Lesson 11 - Where Did the African-American Middle Class Come From? - After a discussion of segregation and racism, students examine data and formulate explanations regarding the development of an African-American middle class.

National Content Standard 15.

Scroll down the linked page to locate the grade 8 benchmarks. 

Email an expert

Professor James Grunloh, University of Wisconsin-Oshkosh