Old dog learns new tricks in children's economics DVD
WEST LAFAYETTE, Ind. - Business is a dog-eat-dog world, especially for a pooch with a poor grasp of economics.
In a new children's DVD produced by the Purdue-based Indiana Council for Economic Education, a puppet hound named Herschel learns about the trials and tribulations of starting a doggie treats company.
"Herschel Goes into Business" also stars Harlan Day, the ICEE’s executive director. The approximately 45-minute DVD, divided into five programs, sells for $25. It is available through the ICEE's KidsEcon Posters website at https://www.kidseconposters.com
The website contains preview programs, a downloadable teacher's guide and other resources. Visitors also can buy their own Herschel puppet.
"Herschel Goes into Business" picks up where 2007's "Herschel's World of Economics" left off. In the original, Day taught the misguided canine basic economic concepts such as goods and services, productive resources, scarcity and opportunity cost, during informal - and often comical - talks outside Herschel's doghouse.
He uses the same formula in the sequel.
"This DVD builds on the economic concepts presented in the first DVD," he said. "There's more of an entrepreneurship focus, and the concepts are a little more advanced. While there's some really high-level content, it's done in a humorous way at a child's level of understanding."
Both DVDs are intended for students in kindergarten through fifth grade.
"Herschel Goes into Business" begins with Herschel learning about the importance of giving, saving and investing. In subsequent program segments, the dog is confronted with production costs, profit, supply and demand, competition, specialization, capital resources and interdependence.
In one scene, Herschel proudly shows Day the $180 he earned selling his doggie treats. After consulting with Day, the dog is surprised to discover that most of his revenue isn't profit.
"Herschel, you've got to pay for all of the productive resources that it took to produce your doggie treats," Day tells Herschel. "You've got to pay Molly and Spot their wages, and you've got to pay for all of the capital resources that you use. … And don't forget the cost of all of your ingredients."
After subtracting those expenses and his own opportunity cost, a frustrated Herschel finds he's left with $70.
"I need a vacation," Herschel says. "Maybe I'll go to Florida and visit Disney World. Maybe blow off some steam."
As with the first DVD, Day wrote the script for "Herschel Goes into Business." Lynn Grebus of Chicago, the puppeteer and voice of Herschel, provided comic touches.
The DVD was taped in a Purdue television studio before an audience of students from West Lafayette's Cumberland and Happy Hollow elementary schools. Day said he hopes teachers embrace it as much as "Herschel's World of Economics."
"We've had some teachers tell us that their students couldn't wait to watch another episode of Herschel because they liked the puppet," he said.
The economic principles taught in the Herschel DVDs meet those outlined in the Council for Economic Education's Voluntary National Content Standards in Economics and most state economics curriculum requirements, Day said. The DVDs go the added step of teaching children how those concepts apply to business.
"Children think entrepreneurship is only for old people, while our view is you need to sow those seeds early so that kids start thinking entrepreneurially," Day said.
Jeff Sanson, the ICEE's director of programs, said economics training goes hand-in-hand with science, technology, engineering and mathematics - or STEM - education.
"The idea of scientific innovation is great, but to truly maximize that innovation you have to have an understanding of economics and business in order to get those innovations into the marketplace," Sanson said. "Those practical skills are necessary to develop in children, along with science and math."
Both DVDs were made possible by financial support from Teachers Credit Union. Purdue's Department of Agricultural Communication assisted in video production.
The ICEE is a nonprofit organization housed in Purdue's Department of Agricultural Economics. The council's mission is to improve economic literacy among students through such programs as the Stock Market Game and Classroom Mini-Economy. For more information, visit https://www.econed-in.org
Writer: Steve Leer, 765-494-8415, sleer@purdue.edu
Sources: Harlan Day, 765-494-8544, dayhr@purdue.edu
Jeff Sanson, 765-494-0188, jjsanson@purdue.edu
Ag Communications: (765) 494-2722;
Keith Robinson, robins89@purdue.edu
Agriculture News Page
Note to journalists: A preview program from the DVD is available at
https://www.kidseconposters.com/herschel-dvd2.html
Related website:
Purdue Department of Agricultural Economics