Grade: Grade 5 Subject: Social Studies Unit: Economics Introduction SAT: Information+Ideas ACT: Reading

Primary Source Analysis

Learn

When we study economics and history, we use different types of sources to learn about the past and understand how economic systems worked. In this lesson, you'll learn how to tell the difference between primary sources and secondary sources, and how to analyze them to draw conclusions about economics.

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Primary Sources

Original materials created during the time period being studied. These are firsthand accounts from people who were actually there!

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Secondary Sources

Materials created after the time period, usually by someone who researched primary sources. These analyze and interpret events.

Why Does This Matter for Economics?

Primary sources help us understand what people actually experienced during different economic times. A diary from the Great Depression tells us how real families dealt with money problems. A newspaper ad from 1950 shows us what things cost. These sources bring economics to life!

Examples of Economic Primary Sources

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Newspaper Articles

News stories written at the time events happened

Primary
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Diaries & Letters

Personal writings from people who lived through events

Primary
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Government Records

Official documents, laws, and statistics

Primary
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Photographs

Pictures taken during the time period

Primary
🏷️

Advertisements

Ads showing products and prices from the era

Primary
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Speeches

Recorded or written speeches from leaders

Primary

Examples of Economic Secondary Sources

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Textbooks

Books written to explain historical events

Secondary
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Documentaries

Films made later about past events

Secondary
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Modern Analysis

Articles written today about past economics

Secondary
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Encyclopedia Entries

Reference articles summarizing events

Secondary

How to Analyze a Primary Source

1

Observe

What do you notice? Read the text carefully or study the image. Write down everything you see.

2

Source

Who created this? When? Where? Why might they have created it? What was their point of view?

3

Contextualize

What was happening at this time in history? How does this source fit into the bigger picture?

4

Corroborate

What do other sources say? Does this match or conflict with other evidence?

5

Conclude

What can you learn from this source? What questions does it raise?

Let's Practice with a Real Economic Source

Primary Source
Newspaper Advertisement - 1955
From: The Daily Tribune, Chicago, Illinois - March 15, 1955

GRAND OPENING SALE!

Visit our new supermarket!

Milk - 25 cents per quart

Bread - 18 cents per loaf

Ground beef - 39 cents per pound

Gasoline - 23 cents per gallon

"Shop where your dollar goes further!"

What Can We Learn From This Source?

  • Prices were different: Things cost much less in 1955 (but people also earned less money!)
  • Supermarkets were new: The "Grand Opening" suggests supermarkets were still a new concept
  • Inflation over time: Comparing these prices to today shows how money's value changes
  • Marketing language: "Your dollar goes further" - people cared about value then too!
Think Like a Historian! When you see prices from the past, don't just think "things were cheaper!" Ask: How much did people earn? What could they afford? How do these prices compare to other things at the time?

Examples

Let's analyze more economic primary sources together.

Primary Source
Letter from a Factory Worker - 1912
Written by: Maria Gonzalez, age 15 - Textile Mill, Massachusetts
"Dear Mama, I work 12 hours every day except Sunday. The machines are so loud I can barely hear. I make $4.50 each week, and I send $3 home to you. The foreman says if I work faster, maybe I can earn an extra nickel. The other girls say we should ask for better pay, but I am scared to lose my job. There are many people waiting outside the factory gates each morning, hoping someone gets fired so they can work."

Economic Analysis Questions

  • Supply and Demand: Why couldn't Maria ask for higher pay? (High supply of workers, she was easy to replace)
  • Working Conditions: What does this tell us about labor before modern laws?
  • Family Economics: Why did children work? Families needed the income to survive.
  • Point of View: This is one worker's experience - what might factory owners have said?
Primary Source
Government Poster - 1943 (World War II)
U.S. Office of War Information

DO WITH LESS

SO THEY'LL HAVE ENOUGH!

Rationing gives you your fair share.

Sugar - Coffee - Meat - Butter

Use your ration book wisely!

Economic Concepts in Action

  • Scarcity: During war, resources were scarce because they were needed for soldiers
  • Rationing: Government limited how much people could buy to ensure fair distribution
  • Propaganda: The government used posters to convince people to accept limits
  • Patriotic Appeal: Connecting sacrifice to supporting troops (emotional, not just economic)

Practice

Test your understanding of primary source analysis with these questions.

1 Which of the following is a PRIMARY source for studying the Great Depression?
A A textbook chapter about the 1930s economy
B A diary written by a farmer in 1932
C A documentary made in 2010 about the Depression
D A Wikipedia article about economic crashes
2 Read this source and answer the question.
"We stood in line for three hours today just to get bread. My children haven't had meat in two weeks. I heard the factory might open again next month, but nobody knows for sure." - Letter from John Smith, Cleveland, 1933
What economic concept does this source BEST illustrate?
A Inflation
B Unemployment and scarcity
C High demand for products
D Economic growth
3 When analyzing a primary source, why is it important to know WHO created it?
A To know if they were famous
B To understand their point of view and possible bias
C To find out if they were rich or poor
D To determine if the source is real
4 A newspaper article from 1929 and a textbook written in 2020 both describe the stock market crash. How are they DIFFERENT?
A The 1929 article is a primary source; the 2020 textbook is secondary
B Both are primary sources from different times
C Both are secondary sources
D The 2020 textbook is more accurate because it's newer
5 Read this advertisement from 1960 and answer the question.
"NEW 1960 CHEVROLET - Only $2,200! Easy monthly payments! Trade in your old car today! America's best-selling automobile - now even more affordable for families like yours!"
What can historians learn about 1960s economics from this ad?
A Only how much cars cost
B Prices, payment plans, marketing strategies, and consumer culture
C Nothing - ads are not useful sources
D Only that cars existed in 1960
6 Why is "corroboration" (checking multiple sources) important when studying economics?
A To make your report longer
B To verify information and get multiple perspectives
C To prove that all sources say the same thing
D To show that primary sources are always correct
7 A factory owner and a factory worker both write about wages in 1915. What should you expect?
A They will have the exact same opinion
B They may have different perspectives based on their positions
C Only the owner's account is accurate
D Only the worker's account is accurate
8 Which question would BEST help you analyze an economic primary source?
A Is this source interesting to read?
B What was happening economically when this was created?
C How long is this source?
D Is this source older than 100 years?

Check Your Understanding

Primary Sources

Original materials from the time period: diaries, letters, photos, newspapers, ads, speeches, records.

Secondary Sources

Materials created later that analyze primary sources: textbooks, documentaries, encyclopedias.

Point of View

Every source has a perspective. Consider who created it and why.

Corroboration

Check multiple sources to verify information and understand different perspectives.

Context Matters

Understand what was happening when the source was created.

Ask Questions

Who? What? When? Where? Why? What can we learn?

Key Takeaways

  • Primary sources are original materials from the time period being studied
  • Secondary sources analyze and interpret primary sources
  • Good analysis considers who created the source and their perspective
  • Context helps us understand what the source means
  • Corroboration means checking multiple sources
  • Primary sources show us how real people experienced economic events

Next Steps

  • Look for primary sources in your own life (old family photos, letters, documents)
  • Ask older family members about prices when they were young
  • Compare prices from old newspaper ads to today's prices
  • Think about how your own writings could be primary sources for future historians!