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Unit Plan: Financial Literacy

Math / Grade 4-7

Big Ideas

1. Number represents and describes quantity: Parts of wholes can be represented by fractions and decimals

2. Developing computational fluency comes from a strong sense of number.

Concepts:

• Monetary calculations, percent calculations, value of money
• Consumer math, budgeting, monetary calculations

Essential Questions

Students will keep considering…

• Why is money important?
• How do values determine spending habits ?
• What is financial responsibility?
• How is worth determined?

Evaluative Criteria

CRITERIA FOR ASSESSMENT

Teachers will be assessing students’ ability to:

• perform whole number and decimal monetary operations
• make reasonable estimates
• make logical and realistic spending goals
• create a working budget
• solve problems using percent calculations (at higher levels)
• make thoughtful reflections about the earning and spending choices they make, that relate to their personal values and beliefs

DIFFERENTIATION

ADAPTATIONS:

• students can work at any of the grade levels, to suit their level of skill and understanding
• budget sheets can be scaffolded for individual students and levels
• the Chore Chart for Grades 5-7 can be differentiated in terms of the value of each chore
• values for the chores can be pre-assigned, or you can have a discussion surrounding what each chore should be worth
• values at the higher level could include algebraic expressions (i.e. a base chore would be worth n, while other chores could be worth something in relation to n)
• forgetting to do a chore could have a negative impact on a budget (a way to incorporate negative integers and the concept of debt)
• technology connections could include using Excel to create budgets, as well as various iPad budgeting apps

EXTENSIONS:

• all levels: create a graph to represent your budget (pictographs, line graphs, bar graphs, circle graphs; discuss which graphs would be appropriate and how you might use them)
• all levels: turn your budget into a board game to demonstrate the concepts of earning and spending by moving forward and backward on the game board; play The Game of Life and Monopoly with students
• Grade 7 level: calculate what percent of your earnings are going to each item/category in your budget

Monitoring Progress

Formative Assessment throughout:

During class discussions, small group discussions and one on one conversations.

Exit slips after various lessons.  Possible frame could be “The most important thing to know about …. is…”

Review of the work students do during the thinking routines.

Assessment of practice activities and students’ ability to perform the monetary calculations.

Imbed “What Makes You Say That?” (Making Thinking Visible Routine) into all class and individual discussions.

Resources

PICTURE BOOKS

• The History of Money: From Bartering to Banking by Martin Jenkins
• National Geographic Kids Everything Money: A Wealth of Facts, Photos and Fun by Kathy Furgang

WEBSITES

TEXTBOOKS

• Math Makes Sense Grades 4 and 7

PROFESSIONAL RESOURCES

• Making Thinking Visible by Ron Ritchhart and Mark Church

BLACK LINE MASTERS

Reflection

How will teachers and their students reflect on and evaluate the completed project?

Teacher:
Next time I teach this unit I would…

Allow students to select the short stories that link to Identity.

Student:
My students needed:

Process:
Product:
Content:

Potential Student Misunderstanding:

Stage 2 – Evidence

Authentic Performance Tasks

AUTHENTIC PERFORMANCE TASK: Assessing for Understanding
Students will be able to demonstrate their understanding by:

Creating a personal budget that reflects their income (based on age level appropriate earnings), their expenses and their charitable donations.  Budgets should reflect real and attainable needs and wants.

> Click here to learn more about Performance Tasks

GRASPS - Personal Budget - Grade 4

What is a GRASPS task?

Personal Budget – Grade 4

ESSENTIAL QUESTIONS(s):

• Why is money important?
• How do values determine spending habits?
• What is financial responsibility?
• How is worth determined?

> Click here to download GRASPS

GRASPS - Personal Budget - Grade 5

What is a GRASPS task?

Personal Budget – Grade 5

ESSENTIAL QUESTIONS(s):

• Why is money important?
• How do values determine spending habits?
• What is financial responsibility?
• How is worth determined?

> Click here to download GRASPS

GRASPS - Personal Budget - Grade 6

What is a GRASPS task?

Personal Budget – Grade 6

ESSENTIAL QUESTIONS(s):

• Why is money important?
• How do values determine spending habits?
• What is financial responsibility?
• How is worth determined?

> Click here to download GRASPS

GRASPS - Personal Budget - Grade 7

What is a GRASPS task?

Personal Budget – Grade 7

ESSENTIAL QUESTIONS(s):

• Why is money important?
• How do values determine spending habits?
• What is financial responsibility?
• How is worth determined?

> Click here to download GRASPS

GRASPS - Additional Info

Personal Budget – Grade 7

ESSENTIAL QUESTIONS(s):

• Why is money important?
• How do values determine spending habits?
• What is financial responsibility?
• How is worth determined?

> Click here to download GRASPS

Other Evidence

OTHER EVIDENCE: Assessing for Knowledge and Skills

Students will show they have acquired Stage 1 knowledge and skills by:

FORMATIVE ASSESSMENT

• Participation during class and small group discussions – look for level of understanding with regards to the unit understandings.  Are students developing their understanding of the importance of money, and how financial decisions are impacted by many different things?
• Imbed “What Makes You Say That?” into all class and individual discussions.
• Reflections on spending, earning, donating  and being financially responsible.
• Reflections on personal views of money (Claim, Support, Question; I Used to Think…Now I Think…).

SUMMATIVE ASSESSMENT

• Performance on practice activities and text book work  – look for ability to perform the monetary (borrowing, regrouping, decimal place value) and percent calculations (the process needed to perform these).
• Short quizzes imbedded throughout to assess students’ ability to perform the monetary calculations (borrowing, regrouping, decimal place value) and percent calculations (the process needed to perform these).

The following resources are made available through the British Columbia Ministry of Education. For more information, please visit BC’s New Curriculum.

Big Ideas

The Big Ideas consist of generalizations and principles and the key concepts important in an area of learning. The Big Ideas represent what students will understand at the completion of the curriculum for their grade. They are intended to endure beyond a single grade and contribute to future understanding.

Visit the Ministry of Education for more information

Core Competencies

Communications Competency

The set of abilities that students use to impart and exchange information, experiences and ideas, to explore the world around them, and to understand and effectively engage in the use of digital media

Thinking Competency

The knowledge, skills and processes we associate with intellectual development

Social Competency

The set of abilities that relate to students’ identity in the world, both as individuals and as members of their community and society

Visit the Ministry of Education for more information

Curricular Competencies & Content

Curricular Competencies are the skills, strategies, and processes that students develop over time. They reflect the “Do” in the Know-Do-Understand model of curriculum. The Curricular Competencies are built on the thinking, communicating, and personal and social competencies relevant to disciplines that make up an area of learning.

Visit the Ministry of Education for more information

Additional Resources

First People's Principles of Learning

To read more about First People’s Principles of Learning, please click here.

For classroom resources, please visit the First Nations Education Steering Committee.