MONEY UNIT: Gr. 5Developed by: Sandie AndrewsRationaleThe ability for individuals to handle money properly and accurately is an essential life skill. 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 handson 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.
ObjectivesStrand: MeasurementTopic: Money
Strand:Problem SolvingTopic: Understanding
Topic: Planning & Executing
Topic: Reflecting
CEL'S
Integration
Evaluation
The activities of this unit were designed to ensure the students' active participation/involvement with math in group and individual settings.
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.
Materials for The Unit
Introductory ActivityIt is important to have students start to think about money and apply it to real life situations. A good way to start the unit is by reading the book A Chair For My Mother by Vera B. Williams. 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.
ie) I have two coins worth 15c. One is not a nickel. Name the coins. (one dime & the other is a nickel!)
Activity 1Money: 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. You could discuss issues such as: what if there were no more pennies or the $5 bill became a coin? 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. Who am I?
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. Example:
A=$1 J=$10 S=$19 B=$2 K=$11 T=$20 C=$3 L=$12 U=$21 D=$4 M=$13 V=$22 E=$5 N=$14 Y=$25 F=$6 O=$15 Z=$26 G=$7 P=$16 H=$8 Q=$17 I=$9 R=$18
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.
task card
Activity 3:Lunch OrdersThis 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 child orders one meal from the menu and writes it in his/her notebook or journal. 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 HuntersDiscuss how students earn money. How many people receive an allowance? Create a class graph on the amounts of allowance. Analyse the results. What do you do with your allowance. Discuss nutrition and eating healthy. Then divide the students into groups of 3 or 4. Each group should have grocery flyers from 2 or 3 different stores, perhaps two local flyers and one out of town/province. Tell the students they have $50.00 to spend on 3 meals for one day. 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. Have the students write in their journals what they learned and/or felt throughout this experience. 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 ProblemsStart 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, 4445, 57, 82, 8687, 9091, 130131, 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. Next day you may want the students to type out their problems to be compiled into a class book of "Real Life Problems". NOTE: The problems should include addition, subtraction, multiplication, and division. Activity 6:Mental MathThe 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 premade 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. Activity 7:Money Around the WorldThis lesson may be done as an extra. 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. Be sure that each group converts $100.00 Canadian to the currency of their 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. Other Activities
Learning Centre Activities

Party item  Amount needed  Grocery Store #1  Grocery Store #2  

Cost  Amt. x Cost  Cost  Amt. x Cost  
Pop:  
Cheese:  
Crackers:  
Potato Chips:  
Ice Cream:  
Movies:  
Other:  
Total Prices: 
At this station there will be a variety of money related process problems. The problems will be changed and added as the students work through the problems.
Use a newspaper to find a number of money related symbols, words, and values, and cut them out. Make a collage on an 81/2 x 11" paper.
Have 1 or 2 monopoly games at the station. No more than 4 students can be at each board. This will help students make purchasing decisions and managing money in a fun way.
Provide bingo game boards with various prices randomly placed on them. 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.
At this centre students will be able to write poetry and/or stories about money. 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.
Try to locate as many books about money either children's books or information books/pamphlets. See Resource List for ideas.
This centre may be ongoing in that it relates to the group research projects. It includes the interactive bulletin board and a board game with various money questions. Bulletin Board Ideas
ResourcesSuggested Literature ResourcesDrobot, Eve (1987). Everything You Want to Know About Money: An Amazing Investigation. Toronto: Owl Books. Greey de Pencier Books. Mitgutsch, A (1985). From Gold to Money. New York: Carolrhonda Books Inc.
Morgan, Allan (1987). Matthew and the Midnight Money Van. Toronto: Annick Press Ltd. Schwartz, D.M. (1989). If You Made a Million. New York: Lothrop, Lee, & Shepard Books. Viorst, J. (1978). Alexander Who Used to be Rich Last Sunday. Macmillan.
Williams, Vera B. (1984). A Chair for my Mother. New York:Greenwillow.
Suggested Teacher ResourcesBeesey, Cathy and Tynn Davie. Active Mathematics Teacher's Resource Book Level 3 (56).
Bennett, B., Rolheiser, C., & Stevahn, L. (1991). Cooperative Learning. Toronto: Educational Connections.
Danbrook, Carol (1992). Active Learning Series Overheads Grades 46. Exclusive Educational Products.
Daniel, Becky (1988). Math Thinker Sheets. Illinois: Good Apple Inc.
Danylczuk, Eileen (1994). If you've got the TIME, I've got the MONEY, Especially if the TEMPERATURE is right ! Stewart Resource Centre, STF.
Grade 5 & 6 Daily Mathematics Critical Thinking and Problem solving. (1992). Illinois: McDougal, Littell, & Company.
8002253909 (5 Minute Workouts)
Molengraft, Lisa. Canadian Money. USA Instructional Fair Inc.
Quest 2000. (1997). Grade 5. AddisonWesley. (teacher guide, student text, black line masters, and problem of the day overheads)
Regina Leader Post. Money Mathers Grade 59. Resource Catalogue.
free with an order of 100 newspapers
Saskatchewan Education (1992). Mathematics: A Curriculum Guide for the Elementary Level.
Saskatchewan Education (1991). Student Evaluation: A Teacher Handbook.
Techniques of Problem Solving. Problem Deck A & B. Dale Seymour Publications
Box 10888 Palo Alto, CA 94303
Various pamphlets on Canadian Money and it's History from the Bank of Canada and/or National Mint
MONEY: A MINI UNIT
Money: How did it Come to Be?Cel'sCommunication:
Critical & Creative Thinking:
Personal & Social Values & Skills:
Independent Thinking:
Technological Literacy:
M59 solve a variety of problems relating to money
Resources
Bank of Canada, The Story of Canada's Currency. (1990).
Bank of Canada  package on the latest bills (current)
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. You could discuss issues such as: what if there were no more pennies or the $5 bill became a coin? 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?

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? what is healthy/nutritious?  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? 
M63 use strategies to make change for given values to one hundred dollars SWBAT:
Materials
LessonDiscuss how students earn money. How many people receive an allowance? Create a class graph on the amounts of allowance. Analyse the results. What do you do with your allowance. Discuss nutrition and eating healthy. Then divide the students into groups of 3 or 4. Each group should have grocery flyers from 2 or 3 different stores, perhaps two local flyers and one out of town/province. Tell the students they have $50.00 to spend on 3 meals for one day. 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. Have the students write in their journals what they learned and/or felt throughout this experience. 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. ***If you can find grocery flyers from an out of province city bring in as many as you can. 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. 