This mini-unit (set of lessons) uses games, easy explanations, and the "Trading Places" episode of the popular animated series CYBERCHASE to teach kids about financial literacy. Kids learn the value of currency and how to save and earn interest. In a key lesson, kids even get to purchase items in their classroom's general store. It's a fun way to learn the importance of being financially literate!
Upper Elementary (grades 4-6)
Three to five 45-minute class periods
NOTE: This lesson may be condensed or expanded, depending on the amount of time you have available and your level of involvement in the topics explored.
Bartering and trading
Saving and simple interest
McREL Economic Standard 4: Understands basic features of market structures and exchanges. (Level II)
2.Understands that money reduces the problems barter faces because money is easy to divide, carry, and store.
5.Understands that money makes it easier to compare the value of different kinds of goods and services and allows people to save purchasing power for a later time because it can easily be traded for goods and services at any time.
McREL Economic Standard 7: Understands savings, investment, and interest rates. (Level II)
1. Understands that savings is the part of income not spent on taxes or consumption
McREL Mathematics Standard 2: Understands and applies basic and advanced properties of the concepts of numbers. (Level II)
http://www.mcrel.org/compendium/Benchmark.asp?SubjectID= 1& StandardID=2
2. Understands equivalent forms of basic percents, fractions, and decimals and when one form of a number might be more useful than another
5. Understands the relative magnitude and relationships among whole numbers, fractions, decimals, and mixed numbers
NCTM Standards, Grades 3-5
In grades 3-5 all students should-
This lesson was prepared by: Patrick Vennebush
Carey Bolster, Co-Director Math Content, Cyberchase; Frances Nankin, Math Content Producer, Cyberchase