Texas Economics: Eras and Individuals

Eras and Individuals In Katy, TX

Laura EwingPresident/CEO

Texas Council on Economic Educationwww.economicstexas.org

Laura@economicstexas.org713-655-1650

TCEE ProvidesInteresting hands-on lessons that develop

critical thinking skills for students in Economics, Social Studies, Math, and

Career/Technical Education classes.

Stock Market Game™•10 week simulation•Grade 4 through 12•Teams of 2 to 5•Virtual $100,000 to invest•Fall team fees supported by Merrill Lynch

ResourcesVirtual EconomicsGlobalizationFinancial Fitness for Life

4th Grade Economics TEKS12 (B) explain how geographic factors such as climate, transportation, and natural resources have influenced the location of economic activities in Texas;13 (B) identify oil and gas, agricultural, and technological products of Texas that are purchased to meet needs in the United States and around the world;

Texas Economics: Eras and Individuals

•Survey the Table of Contents•What lesson looks interesting to you?•Take a look at the lesson

Texas Boomtowns: the Impact of Oil Discovery on A Community

Economic Vocabulary1. Demand2. Supply3. Goods and services4. Profit5. Entrepreneurship6. Price7. Boomtown8. Entrepreneur9. Production

What would life be like if…•30 new students moved into your class and into every class at school? •25 new families moved into your neighborhood and every neighborhood in your area?•there were so many more people…what would you need?

What do you see in these photos from 1901?What do you think these photos are?Where is Beaumont, Longview?

Spindletop Changed Rural Areas to Boomtowns

•Beaumont population grew from 9,000 people to 50,000 in three months.•Breckinridge population went from 600 in 1918 to 30,000 in 1919•February 1931 Longview grew from 5,000 to 10,000 in 2 months

Goods and ServicesWhat is the difference?Good: Services

Which of the items on the list are goods and which are services?

Rank order: which do you think most important to least important.

Spindletop Changed Rural Areas to Boomtowns

•Beaumont population grew from 9,000 people to 50,000 in three months.•Breckinridge population went from 600 in 1918 to 30,000 in 1919•February 1931 Longview grew from 5,000 to 10,000 in 2 months

Primary Sources1. You are going to be in six different groups.2. Your group will read one primary source together.3. What goods and services are limited in supply?4. What factors caused an increased demand for G & S?5. What new occupations developed? Why?6. Are your lists of important goods and services the same as

those 100 years ago? Explain.7. What examples of entrepreneurship are there? What are

examples of profit motive?

Spindletop Changed Rural Areas to Boomtowns

•Beaumont population grew from 9,000 people to 50,000 in three months.•Breckinridge population went from 600 in 1918 to 30,000 in 1919•February 1931 Longview grew from 5,000 to 10,000 in 2 months

PROCESS

1. Pretend that you live in a community that will soon have a huge boom in population.

2. It is a fictional town in the panhandle of Texas in Floyd County. There are 125 people now. You are close to highway 70.

3. Oil has been discovered and 1000 population is expected within 2 months

PROCESS 2

1. Floyd County: 125 to 1000 population in 2 months2. One gas station which sells groceries (mainly milk

and bread)3. Work in small groups to:

1. A. List problems2. B. What goods and services will they need?3. C. Make a list of actions needed to help people deal

with population boom.