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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 responsiblty?
• 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

• 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 1 – Desired Results

##### Big Ideas
• Number represents and describes quantity: Parts of wholes can be represented by fractions and decimals.
• Developing computational fluency comes from a strong sense of number.

Concepts:

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

Students will be able to independently use their learning to…

• Function in the real world; see the everyday applications of math.
• Make basic financial decisions (i.e. do they have enough money to purchase something; saving)
• Understand when financial mistakes have been made (i.e. incorrect change given, or going into debt).
##### Meaning

Students will understand that…

• Money has an important place in our world, and impacts many aspects of our lives (individually, as a family, as community, etc)
• Having a realistic budget can help prepare you for big life events.
• Saving money and being financially responsible will help you reach your goals.
• How you view money is dependent on many things (personal and family values; personal decisions).

ESSENTIAL QUESTIONS:

Students will keep considering…

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

##### Acquisition

Students will be skilled at…

Reasoning and Analyzing:

• estimate reasonably
• develop mental math strategies and abilities to make sense of quantities

Understanding and Solving:

• develop, construct, and apply mathematical understanding through role -play, inquiry, and problem solving
• engage in problem solving experiences that are connected to place, story, and cultural practices relevant to the local community

Communicating and Representing:

• use technology appropriately to explore mathematics, solve problems, record, communicate and represent thinking

Connecting and Reflecting:

• connect mathematical concepts to each other and make mathematical connections to the real world

CONTENT

Students will know that…

• how to perform monetary calculations, including making change with amounts to 100 dollars
• how to make simple financial decisions

> Elaboration:

• earning, spending, saving, and giving

• how to perform monetary calculations, including making change with amounts to 1000 dollars

> Elaboration:

• making change and decimal notation
• applying a variety of strategies, such as counting up, counting back, and decomposing to calculate totals and to make change
• how to develop simple financial plans to meet a financial goal
• how to develop a budget that takes into account income and expenses

• simple budgeting
• consumer math

• financial percentage calculations (discount, bill splitting, and taxes)

CORE COMPETENCIES

Which Core Competencies will be integrated into the unit?

Communication: share information, connects experience
Critical and Creative Thinking: create new ideas of my own, reflecting on thinking, analyze assumptions
Personal and Social: explore values and choices

##### First People's Principles of Learning

The unit will make connections with:

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