Chapter 8 begins with discussion of how economics represents an underlying impulse that guides human behavior. The introduction highlights the economic costs of homelessness, needy children, single parents, and the cost of childrearing. The chapter then turns to economics and broaches the idea that economic thinking is both rational and emotional and that economic choices are moral decisions.

It then applies the concepts of economics through a discussion of childbirth and then provides a conceptual outline of economics. This overview of economics content precedes the Council on Economic Education’s standards for K-6 students.

It describes the National Council for the Social Studies (NCSS) College, Career, and Civic Life (C3) Framework expectations for economics and the NCSS learning standards for production, distribution, and consumption. An additional section presents themes in research findings concerning financial literacy and related teaching matters. The chapter continues with Marilyn Kourilsky’s Mini-Society (1983) and George Richmond’s Micro-Society (1973).

The next section concerns financial literacy. It explains that the problem is more complex than the simple facts and posed solutions commonly have publicized. Teaching personal finance should relate content to the student’s individuality.

The final section relates morality to economics and personal finance. The chapter then concludes with K-6 economics education resources, some suggested readings, and lessons.