Children this age show centration of thought, meaning their focus is limited to one aspect of a situation/object. They become increasingly creative in their fantasy play, however they can't understand abstract emotions.
By this age, children move from a life dominated by fantasy to one that is beginning to be governed by logic and reason. They begin to take note of the "right" way of doing and become more able to do things by themselves.
At this age, children learn to think about abstract concepts. They wrestle with abstract concepts like love or justice, and formulate values based on thinking and analysing as opposed to only by feeling or experiencing.