Cyber Currency, Currently
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!
Grade Level:
Upper Elementary (grades 4-6)
Time Allotment:
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.
Subject Matter:
Currency systems
Bartering and trading
Financial literacy
Saving and simple interest
Learning Objectives
Students will be able to:
- Recognize the need to create a system of currency due to the limitations
of the barter system.
- Understand the important characteristics of an effective system of
currency.
- Use visual models to represent currency and understand its relationship
to real currency (money).
- Understand that currency can be saved for use later and may earn interest
in a financial institution.
Standards:
McREL Economic Standard 4: Understands basic features of market
structures and exchanges. (Level II)
http://www.mcrel.org/compendium/Benchmark.asp?SubjectID=
15&StandardID=4
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)
http://www.mcrel.org/compendium/Benchmark.asp?SubjectID=
15&StandardID=7
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
http://standards.nctm.org/document/chapter5/
In grades 3-5 all students should-
- recognize equivalent representations for the same number and generate
them by decomposing and composing numbers;
- solve problems that arise in mathematics and in other contexts;
- create and use representations to organize, record, and communicate
mathematical ideas;
- select, apply, and translate among mathematical representations to
solve problems;
- use representations to model and interpret physical, social, and mathematical
phenomena.
This lesson was prepared by: Patrick Vennebush
Content Reviewers:
Carey Bolster, Co-Director Math Content, Cyberchase; Frances Nankin, Math
Content Producer, Cyberchase
