Show me the money!

ATMIM January 12, 2012

S. Sweeney for ATMIM Jan 12, 2012 1

OverviewWhy Financial LiteracyMathematics not EconomicsCheck it outResources


• National Trend• 21st Century Skills• Money Motivates


National Trend

24 states require financial literacy standards8 specify in the mathematics curriculum10 specify in the social studies curriculum13 include passing grades as graduation

requirement6 require integration throughout the grades, but

do not specify content/curriculum


Massachusetts & Financial Literacy

Legislation S-1994AN ACT CONCERNING PERSONAL FINANCIAL LITERACY IN SCHOOLSRequires the Department of Elementary and Secondary Education to develop standards and objectives for personal financial literacy for grades pre-K to 12 in the mathematics curriculum.Includes some funding via the Financial Literacy TrustEstablishes an ESE Financial Literacy advisory council

In MA Senate Ways and Means committee


Where in the mathematics standardsPrimary Example

Elementary ExampleMiddle School Example

High School Example


MA Standards for MathematicsGuiding Principle #4 Equity

… preparing students for college and careers is to ensure that they have the necessary mathematics and problem-solving skills to make sound financial decisions that they face in the world every day, …

Standards for Mathematical Practice#2 Reason abstractly and quantitatively#3 Construct viable arguments and critique the reasoning

of others#4 Model with mathematics#6 Attend to precision


Grade 2Measurement and Data2.MD.7 Tell and write time from analog and digital clocks to the nearest five minutes, using a.m. and p.m.

MA.2.MD.7a Know the relationships of time, including seconds in a minute, minutes in an hour, hours in a day, days in a week, a month, and a year; and weeks in a month and a year.

2.MD.8. Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately. Example: If you have 2 dimes and 3 pennies, how many cents do you have?


Primary Example: Grade 1

MathematicsCounting and addition and subtractionEquationsPlace valueMA additional standard comparative values of US coins

Social Studies (Economics)Buying goodsServicesEconomic choices regarding purchases


Grade 5Introduction: They apply their understandings

of models for decimals, decimal notation, and properties of operations to add and subtract decimals to hundredths. They develop fluency in these computations, and make reasonable estimates of their results. They compute products and quotients of decimals to hundredths efficiently and accurately.


Elementary Example: Grade 4Mathematics:

Multistep word-problems with equations using variablesComparing multi-digit numbers, including decimals ( =, <, >)Four operations (+, -, x, /)Fractions and decimals Interpreting data

Social Studies (Economics)Natural resourcesLimited and unlimited resources effect choicesBuyers and sellers in the market place


Grade 7Expressions and Equations7.EE.3 Solve multi-step real-life and mathematical problems posed with positive and negative rational numbers in any form (whole numbers, fractions, and decimals), using tools strategically. Apply properties of operations to calculate with numbers in any form; convert between forms as appropriate; and assess the reasonableness of answers using mental computation and estimation strategies. For example: If a woman making $25 an hour gets a 10% raise, she will make an additional 1/10 of her salary an hour, or $2.50, for a new salary of $27.50.


Middle School: Grade 7Mathematics

Ratio and proportional relationshipsRational numbersMulti-step real-life problems

Social Studies (Economics)Define and apply concepts: Producers, consumers, savings,

prices, markets, trade, money, medium of exchange, supply and demand

(Grade 6) foreign currency; international trade


FunctionsF-IF.8 Write a function defined by an expression in different but equivalent forms to reveal and explain different properties of the function.

b. Use the properties of exponents to interpret expressions for exponential functions. For example, identify percent rate of change in functions such as y = (1.02)t, y = (0.97)t, y = (1.01)12t, and y = (1.2)t/10, and classify them as representing exponential growth or decay.


High School ExampleMathematics Social Studies/EconomicsQuantities

Units, scale, descriptive modeling, levels of accuracy

AlgebraExpressions , equations, and

inequalitiesRearranging formulas

FunctionsLinear, quadratic, and

exponentialModelingStatistics and Probability

Explanation of financial markets

Costs and trade offsMarket competitionExchange rate and domestic

pricingInflationLocal, state, and federal taxes


Tasks at your table

Each table has a task packet Elementary, Middle or High School task.Appropriate grade level content standardsStandards for Mathematical Practice

Review the taskIndicate the content and practice standards best met by

the task


RecommendationsInclude monetary problems and tasks in your lessonsBe explicit: point out the uses of mathematics for financial literacyEngage the students in their monetary/financial concerns

Early grades Saving vs. spending

Middle grades Needs vs. wants

High school Credit vs. debits


OpportunitiesMassachusetts Financial Education Collaborative

“Need and Wants” Video Challenge (Middle School)http

://masssaves.org/event/mfec-middle-school-needs-and-wants-video-contest

National Financial Capability Challenge (High School)http://www.challenge.treas.gov/about.aspx

Financial Fluency Pilot for Algebra I or Algebra II


http://masssaves.org/event/mfec-middle-school-needs-and-wants-video-contest



http://www.challenge.treas.gov/about.aspx

http://www.challenge.treas.gov/about.aspx

Useful linksMA Department of Elementary and Secondary Education

MCAS transition: http://www.doe.mass.edu/mcas/transition/?section=math Frameworks: http://www.doe.mass.edu/candi/commoncore

PARCC http://www.parcconline.org/ http://www.achieve.org/PARCC

Follow Bill S 1994 Legislature: http://www.malegislature.gov/Bills/187/Senate/S01994 Midas Collaborative: http://www.massassets.org

MA Treasurer’s Office: http://www.mass.gov/treasury/financial-education/

Jump$tart Coalition (FDIC) http://clearinghouse.jumpstart.org/browse/free/?page=1


http://www.doe.mass.edu/mcas/transition/?section=math



http://www.doe.mass.edu/candi/commoncore

http://www.doe.mass.edu/candi/commoncore

http://www.parcconline.org/

http://www.parcconline.org/

http://www.achieve.org/PARCC

Sharyn M. [email protected]


Show me the money!

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