Article

Using Historical Figures to Teach Economics & Financial Literacy: Madam C.J. Walker, Entrepreneur

This resource was written by Paul LaRue.

Teaching students economics and financial literacy is extremely important. One challenge is getting students engaged with the content. Students are interested in talking about money and stories of how people acquire wealth.

This is designed to be used as a ten minute resource in an economics or financial literacy class. This could be used as a "bell ringer" at the start of a unit on entrepreneurship, or as a wrap up resource after a unit on investing. You could also expand this resource into a lesson for a civics or history class. Teachers know best how to use a resource in their classroom.

How to use this resource

These steps can be used or omitted based on the class time you have.

  1. Provide students with the student worksheet.

  2. Use Kylie Jenner's business success as a "hook."

  3. Ask students to read the paragraph on Madam C. J. Walker.
  4. The questions below could be a short quiz or for discussion. Question 5 could be used as a short writing prompt.

Student Worksheet

Madam C. J. Walker: Entrepreneur and the Original Self-Made Queen of Cosmetics

Four women riding in a car
Madam C. J. Walker (driving) and several of her friends. Courtesy WikiMedia Commons.

Today, Kylie Jenner is known for having made a multi-million dollar fortune in cosmetics. One hundred years earlier Madam C. J. Walker died, leaving a net worth estimated to have been one million dollars. Madam C. J. Walker's life is both inspiring and displays her keen understanding of business and economics.

The Economic Life and Times of Madam C. J. Walker
Madam C. J. Walker was born Sarah Breedlove in 1867; her parents were formerly enslaved. She was orphaned at age seven. Sarah worked as a wash woman for many years earning $1.50 per day. Sarah began experimenting with home remedies to create hair care products. Her initial business investment was $1.25. In 1905 Sarah moved her start-up business to Denver. She changed her name to Madam C. J. Walker to help establish her brand. In 1910 she incorporates her business and invests $10,000.00 to purchase 100% stock ownership in the Walker Manufacturing Company, not being able to secure outside investors. At the time of her death in 1919 Madam C. J. Walker was one of the wealthiest business women in America, and is considered to be the first American business women to amass a one million dollar net worth.

Sources:

"Reading #1: Meet Madam C.J.Walker" by Rita Koman, from Two American Entrepreneurs: Madam C.J. Walker and J.C. Penney (Teaching with Historic Places).

Madam Walker, the First Black American Woman to Be a Self-Made Millionaire by Dr. Henry Louis Gates, Jr., PBS.

"Madam C.J. Walker," biography.com.

Economic/Business Terms from the Student Reading

  • entrepreneur
  • investments
  • stock
  • start-up business
  • corporation
  • net worth
  • brand

Discussion Questions

  1. Identify economic and business terms from the paragraph.
  2. Why is Madam C. J. Walker considered a self-made millionaire?
  3. What important business decisions helped her be successful?
  4. What possible examples of institutional racism and sexism did Madam Walker likely encounter?
  5. Compare and contrast the lives of Madam C. J. Walker and Kylie Jenner.

Tags

Last updated: June 7, 2024