Cost Benefit Jr.: Stories in Microeconomics
by Stephanie Herman
Reviewed by Martha Robinson
Purchase details: Cost Benefit Jr.: Stories in Microeconomics by Stephanie Herman. Spiral bound paperback, 174 pages, $29.95. Available only from the Cost Benefit Jr. website.
Cost Benefit Jr.: Stories in Microeconomics covers basic economic principles using stories that young children will understand. The brief stories include ones with a child's allowance and desired toys to show opportunity cost, relationships to illustrate limited resources, and overeating at a buffet to demonstrate marginal utility. Eight units cover price, cost, and value; supply and demand; incentives; negotiation and limited resources; competition; hidden costs and benefits; budgeting; and savings and consumption. Each of the chapters ends with a quiz, and the units conclude with a "wrap-up" exercise for a total of thirty-five lessons. Color pictures of people, animals, and merchandise add interest to the pages, and different colored print sets off important concepts. Small boxes with a story of Mr. Greedy L. McMeanie, a stogie-smoking, bald man who always takes the path contrary to free market economics, appear periodically to show economic alternatives. The book ends with a glossary and an answer key.
Recommendation: Stories in Microeconomics offers a very engaging introduction to economics principles. With its attractive illustrations and interesting stories, the book will be appealing to elementary students. Some repetition of the vocabulary will likely be required in order for the child to retain the information. Cost Benefit Jr.: Stories in Microeconomics will be an excellent springboard for family discussion of budgeting, banking, and other life skills.
Personal Experience: While this book is recommended for second to fourth graders, my third grader did not really understand the material, and my first grader was lost. My fifth grader understood it quite well, and my seventh grader found it too easy. They all thought the stories of the girl getting an allowance for doing such simple chores was absolutely hilarious as their chore load is heavier and they work "for food." I would suggest that this program is more appropriate for fourth to sixth grades.
HomeschoolChristian.com resources related to this review:
Review of Uncle Eric Talks About Personal, Career, and Financial Security by Richard Maybury
First in the Uncle Eric series, an outstanding set of books on economics.
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