3rd Grade Economics Project Ideas

Instructor: Kerry Gray

Kerry has been a teacher and an administrator for more than twenty years. She has a Master of Education degree.

Economics encompasses the social structure by which goods and services are produced, distributed, exchanged, and consumed. This asset contains economics projects for third-grade students.


What is the difference between the things you want and the things you need? How do you get the things you want and need? How does supply and demand affect prices? Upon completion of a third grade unit on economics, these are some of the questions students should be able to answer. These projects provide active engagement for students that enhance their understanding of economics.

Auction: Supply and Demand

Guiding Questions:

  • What determines how much things cost?

Materials: (The following are suggested low-cost items for an auction and may be varied based on classroom donations.)

  • tickets (10 per student)
  • pencils
  • pens
  • erasers
  • hard candy
  • full-sized candy bars
  • cookies
  • apples or oranges
  • sticky notes
  • notebook paper
  • markers
  • coupons for extra recess time
  • coupons for first in line
  • no homework pass
  • books


  • Provide students with ten tickets.
  • Introduce each of the items to be auctioned.
  • One at a time, allow the students to bid with their tickets on the different items. The highest bidder wins that item.
  • Alternate between items that will likely receive high bids and those that will draw lower bids.
  • Divide students into small groups to discuss how supply and demand impacted the final cost of each item.
  • Have students write a reflection paper in which students identify which product they would sell if they had their own business and why they chose that product.

Catalog: Creating a Business Plan

Guiding Questions:

  • What products yield the best profits?


  • bulk toy catalog or website
  • scissors
  • glue
  • markers
  • construction paper
  • stapler
  • order forms
  • play money


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