Chapter 9 Sherie Loika Vickie Engel Eyrin BookLaure Owens Kande Bahlman.
Barbara Phipps Shala London Sherie Surbaugh Nadia Kardash.
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Transcript of Barbara Phipps Shala London Sherie Surbaugh Nadia Kardash.
Barbara PhippsShala LondonSherie SurbaughNadia Kardash
Why?
• Supports cross-content literacy• Provides real-world applications • Develops habits of mind
Common Core Connections
www.classroomclues.com
Children’s
Literature for
Understanding
Economics
GradesK & 1
ECONOMICS/PERSONAL FINANCE• Goods and services• Scarcity• Opportunity cost• Saving
MATHEMATICS
Understanding addition as putting together and understanding subtraction as taking apart
Grade K
ECONOMICS/PERSONAL FINANCE• Goods and services• Scarcity• Choices• Opportunity cost• Money vs. barter• Saving vs. spending• Income• Consumers and Producers
MATHEMATICS
Solving problems involving addition and subtraction
Understanding place value
Grade 1
Follow the Money!
• Saving• Decision-making• Money
• Adding and subtracting and more (see link)
Follow the Money!
Monster Musical Chairs
• Economic want• Good• Scarcity
• Subtraction by one
http://classroomclues.com/monster-musical-chairs/9287
The Penny Pot
• Goods• Services• Choice• Opportunity cost• Scarcity
• Counting coins
http://classroomclues.com/the-penny-pot-6/5180
You Can’t Buy a Dinosaur for a Dime
• Income• Consumer• Choices• Saving & Spending• Opportunity cost
• Adding and subtracting currency
http://classroomclues.com/you-cant-buy-a-dinosaur-for-a-dime-2/5226
Grades2 & 3
• Goods and services• Economic wants• Producers and consumers• Opportunity cost• Money vs. barter• Saving vs. spending• Budgeting• Income• Decision-making
MATHEMATICS
Solving problems involving addition and subtraction
Understanding place value
ECONOMICS/PERSONAL FINANCE
Grade 2
• Scarcity• Markets• Buyers and sellers• Credit and borrowing• Public goods and services• Spending/saving• Borrowing/lending• Income
Understanding fractions
Solving problems involving measurement and estimation of intervals of time
Grade 3
MATHEMATICSECONOMICS/PERSONAL FINANCE
Little Nino’s Pizzeria
• Goods and services• Entrepreneurship• Revenue, expenses and
profit
• “Find the profit” math problems (see link)
http://classroomclues.com/little-ninos-pizzeria/5105
My Rows and Piles of Coins
• Saving• Capital resource• Market• Opportunity cost
• Adding & subtracting
http://classroomclues.com/my-rows-and-piles-of-coins/933
Uncle Jed’s Barbershop
• Human and capital resources
• Specialization• Saving• Opportunity cost
• Estimation costs and inflation
A Chair for My Mother
• Human resources• Savings• Scarcity• Opportunity cost
• Budget development
http://classroomclues.com/a-chair-for-my-mother-7/1259
Lucky Beans
• Productive resources• Human capital• Specialization• Income
• Estimation• Measurement
http://classroomclues.com/lucky-beans/9294
Grades4 & 5
MATHEMATICSECONOMICS/PERSONAL FINANCE
Grade 4
• Opportunity cost• Productive resources• Production and consumption• Specialization• Entrepreneur• Economic systems, market
economy• Human capital• Cost-benefit analysis
• Four operations w/ whole #’s• Factors and multiples• Generate/analyze patterns• Multi-digit whole numbers• Operations with fractions• Classify shapes• Draw/identify lines and angles
Grade 5 MATHEMATICS
ECONOMICS/PERSONAL FINANCE• Scarcity• Opportunity cost• Productivity and
specialization• Supply and demand• Changes supply/demand• Supply/demand for labor• Banking and interest• Taxes• Cost-benefit analysis
• Numerical expressions• Analyze patterns/relationships• Place value system• Perform multi-digit operations• Add/subtract fractions• Multiply/divide fractions• Measurement system• Volume• Graph points on the coordinate
plane to solve real-world and mathematical problems
The Bobbin Girl
• Productivity• Cost of production• Supply and demand• Costs/benefits
• Compute reduction in pay percentages
http://classroomclues.com/the-bobbin-girl/5259
Isabel’s Car Wash
• Incentives• Entrepreneurship• Productive resources• Decision-making• Investing
• Budgeting• Percentages
http://classroomclues.com/isabels-car-wash/5875
Rock, Brock and the Savings Shock
• Saving• Spending• Interest
• Percents• Graphing
http://classroomclues.com/rock-brock-and-the-savings-shock/5422
Sheila Bair (on right)
Mathematics & Economics
12 standards-based lessons
Grades 3-5
Council for Economic Education
Grade 5DOUGHTNUT DREAMING
LESSON OVERVIEW
• Students use a class survey to collect data about the quantity demanded of doughnuts at different prices.
• Students use data to construct a line graph.
• Students discuss the law of demand and apply it to the graph to understand that at lower prices, the students will purchase more doughnuts.
Grade 5 MATHEMATICS
ECONOMICS/PERSONAL FINANCE• Scarcity• Opportunity cost• Productivity and
specialization• Supply and demand• Changes supply/demand• Supply/demand for labor• Banking and interest• Taxes• Cost-benefit analysis
• Numerical expressions• Analyze patterns/relationships• Place value system• Perform multi-digit operations• Add/subtract fractions• Multiply/divide fractions• Measurement system• Volume• Graph points on the coordinate
plane to solve real-world and mathematical problems
Literature Connections
http://classroomclues.com/the-donut-chef/5906
Procedure
Walk into the classroom holding a newspaper and eating a doughnut.
Ask the students if they enjoy eating doughnuts.
Read the book The Donut Chef and discuss favorite flavors of doughnuts and record on the board where they usually purchase them.
Ask if they know how often they buy doughnuts, and discuss other ideas about doughnuts to interest them in the topic.
Procedure
Ask the students to think about the price of the doughnuts. Tell them the owners of a new shop don’t know what to charge. Ask them if they are willing to help the owners.
Have the students complete a demand schedule.
Procedure
VISUAL: MY DEMAND SCHEDULEFOR DAYDREAM DOUGHNUTS
Directions: Pretend you receive a weekly $10 allowance. Although you might want to spend all $10 on doughnuts, remember that your $10 allowance must pay for all of your expenses during the week, such as soft drinks, ice cream, books, toys, movies, video games and donations. Record the number of doughnuts you would be willing and able to buy at each price during one week, using one week’s allowance. Remember, if you are willing and able to buy a number of doughnuts at a certain price, you should be willing and able to buy at least this same number of doughnuts — and probably more — at any lower price.
Price per Doughnut Able to Buy Willing to Buy
$1.50
$1.25
$1.00
$0.75
$0.50
$0.25
Have the students work through the calculations.
Compile the data to obtain a class demand schedule.
Explain Demand.
Construct a linear graph.
Procedure
VISUAL: CLASS DEMAND SCHEDULE FOR DOUGHNUTS
Price $0.25 $0.50 $0.75 $1.00 $1.25 $1.50
Student 1
Student 2
Student 3
Student 4
Student 5
Student 6
Student 7
Student 8
Student 9
Demand: The schedule of the quantity of a good or service that people are willing and able to buy at different prices during a given time period.
Law of demand: People are willing and able to buy less of a good or service at a higher price and more of a good or service at a lower price, when income and prices of other items remain the same.
Title: Demand for DoughnutsP
$1.50
$1.25
$1.00
$.75
$.50
$.25 Demand
0 Q
Northeast Kansas Teachers:•Money, Math & Make-Believe Teacher Summit, Summer 2014, Federal Reserve Bank of Kansas City
•Lending Library and Consultations
•District In-services
Councils or Centers: Host your own training–contact us for sample agendas, handouts, etc.
An invitation…
Barbara Phipps – [email protected] London – [email protected] Surbaugh – [email protected] Kardash – [email protected]