Money Unit for Grade 5 MONEY UNIT: Gr. Children earn, save, and spend money and wise usage will help to become informed consumers. Money involves mathematical ideas and concepts: addition, subtraction, multiplication, and division. This unit will focus on the students' understanding of skills that are developed when using money and the how and when to apply math skills. Money is used universally and with the changing times is becoming more important in our lives. It tends to determine success, failure, and social status. It is necessary to have students understand that money does not determine one's worth and value as an individual. Hopefully this will lessen attitudes and biases towards societies' social classes. Throughout this unit students will be involved in manipulative hands-on activities. Most activities will be set up in stations where students rotate at their pace. This will allow for independent learning as well as group work and peer teaching. The underlying concept of all the activities is problem solving. The problems are developed to challenge students based on abilities, to motivate based on interest, and to be meaningful to the students' lives: connecting mathematics to real life situations. Such an approach of allowing students to interact with peers and materials and using their own experiences to learn makes the experience meaningful, as well as developing a positive attitude to mathematics and promoting students to become life long learners which is a key goal from Saskatchewan Education Mathematics Curriculum Guide for the Elementary Level. The students can evaluate their work and work habits during the unit in a unit evaluation. This not only allows the students to reflect on and take responsibility for their learning but also helps the teacher to evaluate the effectiveness of the unit. Is there anything that could be added or deleted next time the unit is taught? What worked or went really well and what did not work? The students are the main priority when developing a unit for you need to incorporate student interests as well as connections to life in order to motivate the students and make the experience meaningful. A good way to start the unit is by reading the book A Chair For My Mother by Vera B. Discuss things such as: what tips are, how much money they think is in the jar estimate , how long it would take to save enough money for a chair, why does the family wrap the money in paper, how can they exchange coins for bills, what would the students buy with the money. These questions can be assigned to small group after reading the book and discussing it briefly. It will give the teacher an opportunity to assess students' knowledge of money and money problems. This book can be referred to throughout the unit. Start each day with a money brainteaser to encourage critical and creative thinking as well as connecting mathematics to the students' environment. One is not a nickel. Activity 1 Money: How did it Come to Be? Discuss and research the history of money including bartering, minting, the introduction of the loonie and two dollar coins divide students into groups. What was used before money as we know it existed? In this lesson students will look at the history of Canadian currency. This will help students to appreciate money yet not place emphasis on having large amounts. Examine present coins and bills as to the the design on them. You may want to look at special coins that are issued. Show the traditional one dollar bill and compare it with the loon dollar; why have we moved to the loonie coin? Have students write riddles for Canadian currency. They could also write a math journal response to questions such as: why do we have money? What problems are associated with money? What would a world with NO money be like? Riddle Example: I am purple. The first prime minister, MacDonald, sits on one side, And on the other, the fish sure didn't hide. Activity 2: How Valuable is Your Name? This activity focuses on adding and subtracting money. Divide the students into groups of 3 or 4. Give each student an alphabet chart and assign money values to each letter. Have students write their names in their notebook and then assign the correct value to each of its letters. Decide whether or not you will use first name only or first and last names. Each group should receive a task card. When finished share students' findings and graph the results using a bar graph. Why or why not? Activity 3: Lunch Orders This activity makes eating out connected to mathematics. If possible obtain old menus from a restaurant or flyer. There should be enough for the students to work in 2's or 3's. Each is given a certain amount of money with which they can spend. Calculate the meal cost and the amount of change received. In the groups the students are in have them design a menu for a fictional restaurant. You may want to use writers' workshop for this project and laminate the final copy which should be typed. These can be displayed around the room. Activity 4: Healthy Meal Bargain Hunters Discuss how students earn money. How many people receive an allowance? Create a class graph on the amounts of allowance. What do you do with your allowance. Discuss nutrition and eating healthy. Then divide the students into groups of 3 or 4. The meals need to be nutritious an include foods from all the food groups. They should choose the food from the stores provided and compare prices. Chart form may be helpful. Then have the students analyse their results. How much money did you spend on each meal? How much money do you have left over. Compare the results within your small groups, and then as a whole class. Extension: Take the classroom on an excursion to a nearby grocery store where they can compare products and prices. The assignment may be to purchase enough food for their family for an evening meal. The meal would be preplanned and taken to the store. Take the findings back to the classroom to discuss and perhaps create money problems. Shopping Spree handout : Use the handout to allow students to compare todays' school supply prices to those in the early 1970's. This may be done at home or by taking the students to a store to hunt for prices today. Activity 5: Group Problems Start the activity with a money brainteaser. This lesson focuses on solving problems that the students can relate to. Quest 2000 has ideal problems located on pages: 31, 44-45, 57, 82, 86-87, 90-91, 130-131, 142, and 176. Divide the students into groups of 3 and assign each group 3 or more problems. Students should be familiar with solving problems, especially if the money stations have been set up. Each student should try the problems and then compare results with group members. When complete, have the students try making a problem on their own or in the group. Supply store flyers, newspapers, etc. NOTE: The problems should include addition, subtraction, multiplication, and division. Activity 6: Mental Math The objective is to have students calculate prices mentally by adding and subtracting. This will help to estimate prices when shopping. This activity can be introduced as a separate lesson or can be used to begin other lessons. It can also be used as a station. Each student should have a bingo card. These can be pre-made or the teacher can hand out blank bingo cards. Then read out money amounts for the students to fill in randomly on their card. The teacher then calls out a number sentence which the students must calculate to find and cover the answer on their card. It introduces students to foreign currency. Bring any foreign coins in to show the students. Find out if anyone knows the names of money from any other country. Discuss the color, size, and value of the money. Divide the students into pairs and have each pair choose a country. Each group is responsible for writing a report on their country's money coins, bills, values, and samples. As an introduction they may want to include some information on the chosen country. Sources to use are encyclopaedias, National Mint, Bank of Canada, etc. These can then be presented to the class. Bulletin Board Idea Put up a world map. Have the students mark their country on the map. In a folder attached to the bulletin board they can place a card with a coin sample and the name. During station time students can match the coin to the correct country. Extra: Have a coin collector come in to talk to the students about foreign currency and the hobby of collecting. Toothpicks can be used for fine detail. They can then write up a history on their coin. Variation: Allow students to create a new bill of any denomination. Any left over money can be put in the class room bank to be saved for a special activity such as movie afternoon, pizza lunch, etc. Plan a field trip to tour a bank. Where will the money go? Perhaps a charity or class trip. Have students create their own bank using any materials such as paper mache. At the end of the class graph the results of their money making. Use your newspaper to obtain prices for the items listed on the chart below or create your own chart and party needs. You will need to look for the items in flyers from 2 different grocery stores to compare and evaluate where you will shop for your party supplies. Calculate how much the total bill will be at each store. How much money do you save? Calculate how much money you have left. Party item Amount needed Grocery Store 1 Grocery Store 2 Cost Amt. The problems will be changed and added as the students work through the problems. No more than 4 students can be at each board. This will help students make purchasing decisions and managing money in a fun way. The caller states an expression containing addition or subtraction of two amounts. The students must mentally preferably calculate the value and find it on the card. This can be used as a whole class opening or closing activity. It encourages mental calculations. Variation: use money words. They may want to use Writers' Workshop for some of their writing. The writings can then be posted on a money bulletin boards. NOTE: The teacher may want to put up a Piggy Bank with idea cards attached to promote and encourage deeper thinking. See Resource List for ideas. It includes the interactive bulletin board and a board game with various money questions. Have the students make cards shaped like money and print various words for money on each card. Display on the wall or on a bulletin board. WE'D ALL WORK FOR LEAVES Create a tree structure out of brown bristle board and put on a bulletin board. Then add students' money that they created bills or coins. You can also add stories and problems that the students created. Resources Suggested Literature Resources Drobot, Eve 1987. Everything You Want to Know About Money: An Amazing Investigation. Greey de Pencier Books. From Gold to Money. New York: Carolrhonda Books Inc. Matthew and the Midnight Money Van. Toronto: Annick Press Ltd. If You Made a Million. Alexander Who Used to be Rich Last Sunday. A Chair for my Mother. Suggested Teacher Resources Beesey, Cathy and Tynn Davie. Active Mathematics Teacher's Resource Book Level 3 5-6. Active Learning Series Overheads Grades 4-6. Illinois: Good Apple Inc. If you've got the TIME, I've got the MONEY, Especially if the TEMPERATURE is right! Stewart Resource Centre, STF. USA Instructional Fair Inc. Money Mathers Grade 5-9. Mathematics: A Curriculum Guide for the Elementary Level. Student Evaluation: A Teacher Handbook. Techniques of Problem Solving. Bank of Canada - package on the latest bills current Lesson Discuss and research the history of money including bartering, minting, the introduction of the loon and two dollar coins divide students into groups. What was used before money as we know it existed? In this lesson students will look at the history of Canadian currency. This will help students to appreciate money yet not place emphasis on having large amounts. Examine present coins and bills as to the the design on them. You may want to look at special coins that are issued. Show the traditional one dollar bill and compare it with the loon dollar; why have we moved to the looniecoin? Have students write riddles for Canadian currency. They could also write a math journal response to questions such as: why do we have money? What problems are associated with money? What would a world with NO money be like? Riddle Example: I am purple. The first prime minister, MacDonald, sits on one side, And on the other, the fish sure didn't hide. Healthy Meal Bargain Hunters Cel's C: -creating a chart to show findings -orally sharing findings -writing journal responses CCT: -deciding on best price -making meals healthy -designing a chart IL: -what is the best bargain? PSVS: -sharing materials -working cooperatively -respect each others' choices N: -designing a chart to display data -comparing prices -making change -how much was spent on each meal and all together? How many people receive an allowance? Create a class graph on the amounts of allowance. What do you do with your allowance. Discuss nutrition and eating healthy. Then divide the students intogroups of 3 or 4. The meals need to be nutritious an include foods from all the food groups. They should choose the food from the stores provided and COMPARE prices. Chart form may be helpful. Then have the students analyse their results. How much money did you spend on each meal? How much money do you have left over? Figure out the bills and change you would receive. Compare the results within your small groups, and then as a whole class. Extension: Take the classroom on an excursion to a nearby grocery store where they can compare products and prices. The assignment may be to purchase enough food for their family for an evening meal. The meal would be preplanned and taken to the store. Take the findings back to the classroom to discuss and perhaps create money problems. Encourage students to compare prices with one local grocery store. Have them present their data in chart from to make clear comparisons. To return to the previous page use your browser's back button.
