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Money: Bartering, Trading and You

Financial Literacy

Learning Module

Abstract

The module for kindergarten to year 2 students reinforces the connection between a known text (Jack and the Beanstalk) and real life situations; weaving its way gradually through the topics of bartering, the concepts of fair, unfair, needs and wants. The module culminates in a market day where the students organise and run market stalls.

Keywords

English, Maths, Financial Literacy, Literacy, Numeracy, Values, Ethical Behaviour

Knowledge Objectives

As a result of completing this module, students will be able to:

EXPERIENTIAL OBJECTIVES

Literacy: Interacting with others - Group effectiveness

(This also links to Personal and Social Competence in the General Capabilities and is embedded in cooperative learning and thinking activities throughout the unit).

Foundation:

(ACELY1784) Use interaction skills including listening while others speak, using appropriate voice levels, articulation and body language, gestures and eye contact

Year 1:

(ACELY1656) Engage in conversations and discussions, using active listening behaviours, showing interest, and contributing ideas, information and questions

(ACELY1788) Use interaction skills including turn taking, recognising the contributions of others, speaking clearly and using appropriate volume and pace

Literacy: Interacting with others - Reading

Foundation:

(ACELY1646) Listen to and respond orally to texts and to the communication of others in informal and structured classroom situations

Year 1:

(ACELY1655) Respond to texts drawn from a range of cultures and experiences

Money and financial mathematics

Australian Curriculum

Year 1

(ACMNA017)Recognise, describe and order Australian coins according to their value

ACT Curriculum

24.EC.1 Identify forms of money (e.g. coins and notes and plastic cards).

24.EC.2 Understand barter and money as ways of exchanging goods and services.

24.EC.5 Demonstrate understanding of the concept of spending and saving money.

Literature: Responding to literature

Foundation

(ACELT1783) Share feelings and thoughts about the events and characters in texts

Year 1

(ACELT1582) Discuss characters and events in a range of literary texts and share personal responses to these texts, making connections with students' own experiences

CONCEPTUAL OBJECTIVES

Language: Expressing and developing ideas

Foundation

(ACELA1786) Explore the different contribution of words and images to meaning in stories.

Year 1

(ACELA1453) Compare different kinds of images in narrative texts and discuss how they contribute to meaning

Money and financial mathematics, Number and place value

Year 1

(ACMNA017) Recognise, describe and order Australian coins according to their value

(ACMNA012) Develop confidence with number sequences to and from 100 by ones from any starting point. Skip count by twos, fives and tens starting from zero

The student makes informed choices about money and finance

Understand barter and money as ways of exchanging goods and services (e.g. barter as direct exchange, advantages of money as a more flexible medium.

Understand the meaning of prices (e.g. the amount of money you need to buy particular goods and services).

Understand differences between needs and wants (e.g. basic human needs of food, clothing and shelter, wants such as particular toys,games or entertainment).

Recognise and name Australian coins and notes.

Use money to buy basic goods and services (e.g. identify price and money at hand, check change given).

ANALYTICAL OBJECTIVES

Language: Text structure and organisation

Foundation

(ACELA1430) Understand that texts can take many forms, can be very short or quite long and that stories and informative texts have different purposes

Year 1

(ACELA1447) Understand that the purposes texts serve shape their structure in predictable ways

The student makes informed choices about money and finance

Analyse barter and money as ways of exchanging goods and services.

Understand the differences between needs and wants

Order spending preferences

APPLIED OBJECTIVES

Money and financial mathematics

Year 2

(ACMNA034) Count and order small collections of Australian coins and notes according to their value

Year 1

(ACMNA017) Recognise, describe and order Australian coins according to their value

The student makes informed choices about money and finances

Understand barter and money as ways of exchanging goods and services

Demonstrate understanding of the meaning of prices

Define differences between needs and wants

Use money to buy basic goods and services (e.g. identify price and money at hand, check change given)

Literacy: Creating texts

Foundation:

(ACELY1651) Create short texts to explore, record and report ideas and events using familiar words and beginning writing knowledge

(ACELY1652) Participate in shared editing of students' own texts for meaning, spelling, capital letters and full stops

Year 1:

(ACELY1661) Create short imaginative and informative texts that show emerging use of appropriate text structure, sentence-level grammar, word choice, spelling, punctuation and appropriate multimodal elements, for example illustrations and diagrams

(ACELY1662) Reread student's own texts and discuss possible changes to improve meaning, spelling and punctuation

1. What do You Know about the Values of Money?

For the Student

In this learning module, you will explore:

What is bartering and trading?

What is fairness?

What is the difference between needs and wants?

What is the value of each coin in the Australian currency?

How can I write a recount?

Getting Started

I am looking at how much you know about money before we start the unit. It is important to do this activity on your own so we won't be working in groups.

There will be three assessment tasks;

1. Circle the correct coin in each box that matches the numerical value attached to an item in the box.

OR

Cut out the correct coin and paste it in the box to match the numerical cent amount.

2. Match the toy with a note of the same value, by drawing a line connecting the matching pair.

3. Order coins from smallest value to largest value.

Fig. 1: Coins

For the Teacher

The focus of this element is to develop student knowledge of the value of money, the ways in which money is used to fulfill our needs and wants and the concept of a fair/unfair trade.

Big Understandings:

What is bartering and trading?

What is fairness?

What is the difference between needs and wants?

What is the value of each coin in the Australian currency?

How can I write a recount?

Assessing what students' know about money denominations

Purpose

To gather students prior knowledge of money; identifying and naming Australian coins, understand that coins have a monetary value and different coins can be used to make a given value.

Resources

Resource:

Sullivan P. and Lilburn P. (1997) Open-ended maths activities : using "good" questions to enhance learning. Melbourne : Oxford University Press,

Teaching tips

In order to prepare for the unit of work, obtain a current writing assessment sample based on a retell of 'Jack and the beanstalk.'

Conduct or reconduct a SENA test to identify students' number skills.

Conduct a pre-assessment money test to identify students' prior knowledge of coin identification and value, matching coins/notes needed to buy particular shopping items and understanding of coin combinations (extension).

The fourth assessment task is a one-on-one assessment of the students' knowledge using open-ended questions such as:

How many ways can you sort these coins?

Show me as many ways as you can to make 20c.

A toy costs 75c, which coins might I use to pay for it?

2. Trading and Swapping

For the Student

Walk around the classroom to the music. When the music stops give a Hi Five to the person closest to you. Face each other and take it in turns to talk about a time when you have swapped/traded something with someone else.

We will repeat the activity two more times.

In your maths log write or draw about a time when you have traded or swapped something with someone.

Draw the item you swapped and the one you received.

I had a train and I swapped it for a helicopter.

For the Teacher

Teachers trading and swapping

Purpose

Teachers role play swapping of classroom teacher resources to get what they need.

The purpose of this activity is to demonstrate to students how needs can be met through the act of swapping/trading. It also introduces students to the meta-language of trade/swap and fair.

Teaching tips

Teachers role play swapping of classroom teacher resources to get what they need.

Teacher 1 -"I need sticky tape. "

Teacher 2 - "Well I need glue."

Teacher 1 - " I could trade/swap my glue for your sticky tape?"

Teacher 2 - " That sounds fair, we will both get what we need."

3. Jack and the Beanstalk

For the Student

As a class look at the pictures in the story of 'Jack and the Beanstalk.' Think about, predict and answer the following questions:

Where is the story set?

What information can you get from the illustrator about the story?

What is the story about?

Where do Jack and his mother live?

From looking at the pictures, what do you know about the giant and his wife?

We are now going to scan through the story to find any new words we are not sure of. We are going to list these words and find and write their meaning. This will help us to understand the story.

Listen to the story.

For the Teacher

Jack and the Beanstalk text

Purpose

The purpose of this text is to introduce students to the concepts of bartering/trading; when Jack swapped the cow for 'magic' beans from a traveller, and fair/unfair in regards to the trade that occurred between Jack and the traveller.

Resources

The traditional fairytale of Jack and the Beanstalk.

Teaching tips

Conduct a book orientation on the story 'Jack and the Beanstalk', focusing on visual literacy to draw out the concepts underpinning the story.

Invite the children to engage with the book, drawing out relevant information which may help with understanding the story.

View the text several times before reading it. Engage in conversation as needed to clarify and support students' statements.

Pose some questions to prompt students.

Scan through the text with the class picking out any unfamiliar words.

Decode new language: widow, market, cottage, traveller, brooch, 'boxed his ears', exchange, supper.

Use dictionaries, prior knowledge and internet to help with definitions for the above words and phrases.

Read the story to the class.

4. The Mum Asks -"What about My Needs?"

For the Student

LI: To identify what is a need/want

Listen to the story Jack and the Beanstalk.

What message is the author trying to give us?

As a class discuss the needs and wants of Jack, the mother, the old man, the giant and his wife. Contribute your ideas for each character.

Make a group of 4 or 5. Choose a particular coloured texta for your group to record your responses at each table. Visit each table and discuss the question, each sharing your ideas. Record your ideas on the chart. When you hear the instrument or music it is time for your group to move to a new table.

  • What is a need?
  • What is a want?
  • How else could their needs and wants (Jack and his mother) be met?
  • What could they have done besides selling the cow?

For the Teacher

Jack and the beanstalk - What about my needs?

Purpose

Reflecting on Jack and his mother's predicament at this stage, will provide the students with the opportunity to engage on a personal level with the characters. They will have the opportunity to critically analyse the family's situation and draw connections between that and their own personal experiences. For instance, a time when they really wanted something but their parents have said 'no' because they don't need it. Or a time when they have done something which made their parents sad.

Teaching tips

Reflect back on the unit in Term 1, 'Knowing me, knowing you,' on needs and wants and make connections with needs for survival.

'Cafe' activity. Write each of the questions on a separate A3 piece of paper and place at each table. Groups are given 5 minutes at each table to record their response using a different coloured texta. Play an instrument/music to signal changing of tables.

Share cafe responses with the class and display. Copy responses to record in maths logs.

5. Jack and His Mum

For the Student

Think, pair, share: Is Jack and his mother rich or poor? Why?

Identify a word, an action and a visual image that tells /shows you Jack's and his mother's financial situation.

As a class discuss the needs and wants of Jack and his mother. What are Jack's mother's needs/wants. What are Jack's needs/wants. Are they similar/different?

With a partner, decide what you think are the mother's needs/wants and Jack's needs/wants. Are there any similarities. Using the Venn Diagram given, record your responses.

Share your opinions with another pair and then report back to the whole class.

Paste the Venn diagrams into the Maths log.

For the Teacher

Jack's financial situation

Purpose

The purpose of this activity is for students to identify the financial situation of Jack and his mother inferring from visual images and key words in the text.

Teaching tips

Discuss and identify the financial situation of Jack and his mother in the beginning of the story.

In a think, pair, share consider the following questions.

Do Jack and his Mum seem to have a lot of nice things? Do they have a lot of money? Are they poor? How do you know? Does anything in the story tell you this? Do the pictures support your ideas? What do Jack and his mum need? Money/food/magic beans?

Students identify and discuss the needs/wants of Jack and his mum.

Students need to understand the following:

Jack and his mother are poor. They need money to buy food. They do not need 'magic beans'.

Jack/Jack's mum's needs/wants may be slightly different.

In pairs students compare and contrast the needs and wants of Jack and his mother in a Venn Diagram, noting the similarities and differences between Jack and his mother's needs and wants.

Students share group with another pair to share their thoughts and then with the whole class.

6. What does the Term Trading/Bartering Mean?

For the Student

Look at the illustration showing Jack trading the cow for magic beans.

In a think, pair, share talk about what the term trading means to you. Now join with another pair to share your ideas.

In your group write a group definition for the term trading. Record the definition in your maths log.

Choose a spokesperson to share your group's definition.

As a class look at the similarites between each group's definition and come to an agreement for the term 'trading'. Formulate a class definition.

Record The final definition in your maths log and the class maths log.

For the Teacher

What is trading/bartering?

Purpose

The purpose of this activity is to define the meaning of the term trading/bartering which is a key concept (big understanding) of the unit.

Teaching tips

Focus on the text illustration showing Jack and the traveller trading the cow for the magic beans.

Below are some examples of the definition of trading:

  • the act or process of buying, selling, or exchanging commodities.
  • a purchase or sale; business deal or transaction.
  • an exchange of items, usually without payment of money.

7. When have you Bartered or Swapped/Traded?

For the Student

Open your maths logs to the activity where you recorded a time that you traded an item with someone else.

In pairs read the leaflet called 'The Barter System'.

In your maths log record the advantages/disadvantages of trading your goods/services for what you want/need.

Form four groups. Each group will manage a 'shop' You have to convince each group they need your product. You also have to barter for each of the three other objects. Each shop owner must be happy with the swap and you may need to negotiate in order to conduct the swap.

What were some of the issues you encountered in bartering for your needs?

We will record your responses in the class log for future reference.

With your partner, develop a short role play to show the class a time when bartering will/not work.

Perform the play to your classmates.

For the Teacher

Experiences of bartering or trading/swapping

Purpose

The purpose of this activity is for students to experience what trading/bartering can sound like and look like in a role play scenario. Students may experience feelings of fairness/ unfairness in regards to their trade.

Teaching tips

Refer students back to the activity where they recorded a time they traded an item with someone.

Hand each pair of students page 14 of 'Money Matters: A teacher handbook for developing money concepts - The Barter System'.

Swan P. Marshall L. (2009) Money Matters: A teacher handbook for developing money concepts. RIC Publications.W.A.

Set up four 'shops' in the classroom. A paper shop, a pencil shop, a book shop and a toy shop. Instruct the students that they need to 'barter' with each shop to get what they need. The pencil shop sells pencils but this is not any good without paper. Likewise for the paper shop. The book store needs to sell its books to the budding authors who have just bartered for pencils and paper. The toy store needs to convince the other three stores that they need rest and relaxation, therefore toys are a must.

After about 10 minutes or when the buzz dies down, regroup the class and discuss the positives/negatives associated with this form of purchasing.

Some responses may include - unfair bartering, feeling as though they had no choice but to swap, people just dumping their goods and taking from the store, shop owners putting different values on their product - no consistency in pricing.

Record the students verbal responses in the class log for future reference.

Record in your own notes the students that appear to have grasped the concept of bartering/trading in their play.

8. Was Jack's Trade a Fair or Unfair Trade?

For the Student

Look back at your Venn Diagram and identify Jack and his mother's needs and wants.

Predict what you think Jack's mum intended to do with the money when Jack got home?

Turn to the person next to you and discuss whether Jack's decision to swap the cow for beans was a sensible one.

With your partner decide who is going to be Jack and who will be the mother.

Jack thought the trade was fair and his mother thought the trade was unfair.

Prepare a short skit explaining your reasoning of the trade.

Jack tells his mother why he thought it was a fair trade and his mother tells Jack why she thought it was an unfair trade.

For the Teacher

Was it a fair or unfair trade (cow for beans)?

Purpose

It is anticipated the students will recognise that even though the beans caused Jack and his mother to be much better off at the end of the story, the beans were initially a very foolish thing to trade the cow for.

9. Is it Fair or Unfair?

For the Student

Revisit our class definition of trading.

In pairs, use your senses to describe what a fair trade and unfair trade looks like, sounds like and feels like.

Record responses on a class Y chart.

Record your sensory description in your maths log.

For the Teacher

Define fair/unfair trade

Purpose

The purpose is for students to identify what is a fair/ unfair trade, justifying their response, arriving at a group consensus to write a class definition.

Teaching tips

Fair: A situation or trade where everyone involved feels/is compensated/treated the same; no one comes out on top.

Unfair: A situation or trade where some people involved do not get equal treatment/are not properly compensated/ some people come out on top and are the winners, whilst others are the losers.

10. Jack and the Traveller

For the Student

Jack met a traveller and swapped his cow for some 'magic beans'? Was this a good trade? If someone offered to swap some magic acorns for your shiny new scooter would you accept the trade? Do you think the acorns really would be magic? Did Jack get a fair trade? Who came out on top? Who won straight after the trade?

We are going to look at some scenarios which explore a fair/unfair trade. Because you will probably have different answers to these questions, there will be 3 corners in the room labelled 'fair', 'unfair' and 'unsure'. You can move to whichever answer you think is the correct one.

A lolly pop for a cream bun.

A scooter for a bike.

A bag of lollies for a sandwich.

Tickets to your favourite group for a day off school.

Using 'Corners' again I want you to consider whether or not Jack trading the cow for beans was fair or unfair. Be prepared to justify your decision. Was it fair/unfair?

For the Teacher

Fair/unfair trade

Teaching tips:

Write and illustrate and or dramatise your new fair ending to the story and share it with the class.

Purpose

The purpose of this activity is for students to express and justify their opinion of the trade between Jack and the traveller. Was it a fair or unfair trade?

Teaching tips

Place signs fair, unfair, unsure in three different locations in the classroom. Students move to the sign that demonstrates their feeling of the trade.

Opinions will differ and providing the student can justify their opinion, any answer is acceptable.

Students' participate in same ' Corners' activity, again this time they are asked:

Was the exchange with the traveller of 'magic beans' for a cow a good trade?

Variation: You can stand on the opinion line. If you think the trade was fair stand to the left of the line. If you think the trade was unfair stand to the right of the line. If you are unsure you can stand in the middle.

11. The Grammar of Visual and Linguistic Texts

For the Student

Write a recount of what happened to Jack using the recount structural prompts when, who, where and why and a personal comment/reflection.

When
who where why what
One day Jack went to market to sell the cow for money. He traded the cow for beans





Mode
Example Effects
Signal words for time One morning, on the way, when, at last, first, next, after Tell the reader when things are happening
Tense (past) met, asked, was going, showed, hurried, put These events have already happened
linking words because, so Makes a sentence more interesting
Third person He, they, Jack indirect voice, talking about someone else
First person I comment personal reflection



For the Teacher

Mode, examples and effects

Purpose: Recall and sequence events of a story. Understand the structural features of a recount.

TT: Model, guided. Highlight signal words on smart board

This will be used as their success criteria for writing a recount of their market day. The final comment will be a personal feeling, conclusion about their experience on market day.

In the final comment encourage students to use first person 'I' up to that point they will be using third person to recount Jack's experiences; indirect recount. When they write their own recounts of the market day later they will be using first person as it is a direct recount.

12. I Need Money!

For the Student

Think, pair, share: how Jack and his mother earned or got money to buy food and essential items.

Participate in a class brainstorm of ways we can 'get/earn' money.

For the Teacher

How do we get money?

Purpose

The purpose of this activity is to identify ways money can be earned i.e. selling goods or by working (paid job).

Teaching tips

Refer to text 'Jack and the Beanstalk.' Think, pair, share, how Jack and his mother earned or got money to buy their basic needs (selling of personal goods/items).

Brainstorm with the children various ways in which we can 'get/earn' money.

Money could be earned, found or given.

13. Earning Money

For the Student

We are going to have a 'Market Day' where you will be able to buy items that could be a need or a want.

To buy these goods you will have to earn money at school. This will be the money that you will spend on the day.

Think, pair, share how we could earn money at school.

For the Teacher

Concept of earning money

Purpose

The purpose of this activity is for students to earn 'money' at school to demonstrate via market day an understanding of needs and wants and how money is used to achieve these.

Teaching tips

Disclose to the students the concept of holding a Market Day where they can buy items that could be a need or a want.

The students will need to earn money to 'spend' on three needs and wants.

Discuss ways in which they could earn 'money' at school in order to build up a bank to spend on Market Day.

Explicity state that the money they earn, will be how much they have to spend on Market Day.

14. Earning Money at School

For the Student

In small groups children complete a cluster web which shows ways they could earn 'money' and how much each job could be worth.

Regroup as a class to share and collate ideas.

Students come up with an agreed value for specific jobs/responsibilities.

Jobs/responsibilities could include: stacking chairs,whole body listening, sharing resources, running errands, personal bests, supporting others in their learning, completing set work to own ability.

For the Teacher

How to earn 'money' at school

Purpose

The purpose of this activity is for students to develop an understanding that people earn money through providing a service/ performing jobs that involve responsibility.

Teaching tips

As a class ask children to provide ways they could earn money at school.

Separate children into small groups.

Ask them to complete a cluster web in order to show ways money coud be earned at school.

15. You can Earn Money at School!

For the Student

Here is a payment card which can be added to or stamped by your teacher when you make good choices in class and contribute to your group tasks.

The money you earn on your card will be very useful for our market day, which we will have later this term.

For the Teacher

Savings cards

Purpose

The purpose of this activity is for students to visually see the benefits of performing class roles of responsibility and how their actions affect the amount paid to them via savings cards. They will receive more money if they complete daily tasks and display appropriate class behaviour.

Teaching tips

When students earn money their savings cards are stamped or coins are collected in a group money box. This shows that the students are aware that their behaviour affects what they are able to purchase through their buying power.

This will also encourage group work ethics and social skills as they reflect on what an effective group looks like, sounds like and feels like.

They will be applying the knowledge that they need to save a certain amount of money in order to buy their identified needs and wants on market day.

16. What do You Know about Money?

For the Student

In small groups I want you to record what you know about money and report back to the class.

Contribute your ideas to the three column group about types of money you know, what we use money for and where we get or earn money from.

Bring in any money from home you may have from other countries to share with the class.

I am going to play a game with you to see how much you know about our currency.

Who am I?

Who can tell me what is found on every single Australian coin?

What colours are our coins?

To assess students' prior knowledge on characteristics of Australian coins play "Who Am I?"

  • I am silver
  • I am light
  • I am small
  • I have an echidna on me
  • I am a ...

For the Teacher

Gathering prior knowledge about money

Purpose

The purpose of this activity is to gather students prior knowledge of what they know about money (types of money; credit cards and Australian currency;coins and notes i.e. features and value).

Teaching tips

Create a display of Australian currency in the classroom.

In small groups students record what they know about money. Groups report back to the class and a class KWL chart is commenced.

Draw up a 3 column table with the headings;

Types of money Used for Source

Record students responses under each heading. Display data retrieval chart in the classroom.

Ask the students questions about our currency to gather further insight into what they know.

This is an authentic opportunity for students to bring in currency from other countries. This values cultural diversity within our class/unit.

17. Finding out about Money

For the Student

Name each Australian coin and match its numerical value.

Order coins from smallest value to largest value.

Identify each Australian coin by its characteristics.

You are going to write a 'Who am I?' based on an Australian coin.

I would like you to take a coin from the 'feely bag'. Keep the value of the coin to yourself and write/draw a "Who am I" based on its value.

Find someone in the room who has not seen your coin.

Read them your "Who am I?"

Did they guess what your coin value was?

I would like you to record at least one new thing you now know about money.

For the Teacher

Activities to support students' knowledge of Australian currency

Purpose

The purpose of this activity is to develop students' understanding of Australian coins; their pictorial features and monetary value.

Teaching tips

If necessary, repeat the 'Who am I' activity to ensure children have a sound understanding of the characteristics of Australian currency.

Students will participate in a range of money activities where they will have opportunities to order and match money based on numerical value and identify coins by their pictorial representation.

Below is a list of activities to support student understanding and recognition of Australian currency.

  • Who Am I?
  • Coin rubbing game (page 21 Money Matters) Swan P. Marshall L. (2009)Money Matters: A teacher handbook for developing money concepts. RIC Publications.W.A.
  • Coin memory (pp.32-34 Money Matters)
  • Coin prints - students press each coin into playdough.
  • Coin dominoes (pp.35-38 Money Matters)
  • Coin patterns (pp. 24 Money Matters)
  • Coin feely bag (pp. 23 Money Matters)
  • Coin match (pp. 28 Money Matters)
  • Fill my board (pp. 30-31 Money Matters)
  • Money Bags (pp. 29 Money Matters) Basic research on animals and people found on Australian currency including notes.

Where necessary, students record their answers in their maths log.

18. Sorting Coins

For the Student

Using the coins given, sort the coins. You can choose how they are sorted. You will need to justify how you have grouped the coins. You will be asked to find alternative ways of sorting the coins.

Share with the class the different ways you found of sorting your coins.

For future reference we will display the sorting chart in the class, labelling our chart with some words we know about money.

In your maths logs write the words currency and value with a short description/picture of what they mean.

For the Teacher

Sorting coins based on appearance, value, colour, weight and size

Purpose

The purpose of this activity is for students to identify that we have coins that a cent value or dollar value.

Teaching tips

Students sort coins into groups. Allow the students to decide how the groups are sorted. Once sorted, encourage them to find alternative methods of sorting the coins.

  • date manufactured
  • colour
  • size
  • denomination/value
  • picture on tails side
  • weight

Chart the different ways the coins can be sorted.

Meta-language such as currency, value, buy, purchase are introduced and displayed on a word wall.

Take a photo for the class maths log. Display the chart.

19. Coin Image

For the Student

In pairs and with magnifying glasses, students' analyse the appearance of the coins, their size, weight and shape. Answer the following questions:

What shape is the coin?

What value is the coin?

Whose head is on the coin?

What is on the tail side of the coin?

How heavy is the coin?

What colour is the coin?

Why do the coins have those characteristics?

Record your findings in your maths log.

Join with another pair and come up with a reason why the coins have their own particular characteristics. Use you maths log to record your assumptions.

Join back as a class and share your assumptions.

For the Teacher

Why do Australian coins look like they do?

Purpose

The purpose of this activity is for students to analyse coin features and come up with a reason why some coins are gold/silver and why coins differ in size, shape and weight.

Teaching tips

To differentiate the learning, more able students can investigate the history of current Australian coins and report back to class.

Australian Mint

50c piece is 12 sided because it was too much like the 20c peice.

The silver coins become smaller as the value decreases.

The $1 coins is larger than the $2 coin because the $1 was going to be the largest coin value.

The $2 weighs more than other coins to distinguish it from the 5c coin.

Money Matters pp24-27.

20. Same Name, Different Look

For the Student

Coins can be represented in different ways. It doesn't change the value of the denomination.

$1 = one dollar = = 100c

In your maths groups complete the following activities:

  • coin dominoes
  • coin memory
  • coin snap
  • word - coin matching
  • money bingo

In your maths logbook I would like you to record at least one thing you have learnt about money so far. It can be in a picture or words.

For the Teacher

Currency can be represented in written amounts

Purpose

The purpose of this activity is for students to understand that we can write the value of a coin using numbers and words, e.g. 50c = fifty cents.

Teaching tips

Explicitly teach that coins can be written in a variety of ways but still mean the same thing.

Take photos of students' participation for the class maths log.

21. 100c = $1 Always

For the Student

How many one cents are in 5c, 10c, 20c, 50c, $1, $2?

How can we prove it?

5 cents is exactly the same as 5 toy cars, 5 lollipops or five dolls. The only difference is that we can buy something with 5 cents. We can't buy anything with 5 dolls.

In pairs and using MAB flats, longs and units, pretend that each unit equals one cent.

Record your results in your maths log and paste in your maths logbook.

How many MAB units, longs and flats do you need to make 5c,10c,20,50c,$1 and $2.

5c 5 one cents Ο Ο Ο Ο Ο
10c 10 one cents Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο
20c 20 one cents Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο Ο
50c
$1
$2

For the Teacher

100c =$1

Purpose

Purpose: Using concrete objects to develop students' conceptual understanding of money and equivalence.

Teaching tips

Explicitly teach the concept of 100c = $1

Tell students we don't have 1 cent coins in our currency, however to understand the concept of 100c = $1 use 5 units each representing 1c to explain 5 cents.

5 cents is the same value as five unit MAB block or five lollipops, cars etc.

10 cents is the same as ten single objects. Continue the understanding for all coin denominations.

Introduce meta language relating to 100c = $1.

Use MAB flat blocks as a visual representation to teach $1 as a whole representation of 100 cents.

22. Counting in Number Patterns

For the Student

We know how to count in ones, twos, fives, tens and hundreds. If we can count in twos we can count in twenties.

As a class we are now going to count in the patterns of ones, twos, tens, fives and hundreds.

In maths rotations you are going to be given activities that reinforce counting in patterns.

  • number sequencing (sparklebox.co.uk)
  • bingo
  • number lines
  • Clown gloves (counting in fives) - Blake Education Maths Centres level 1.
  • Skyscraper (Counting in tens) - Blake Education Maths Centres level 1.

Record your patterns in your maths log.

For the Teacher

Counting in patterns

Purpose

Purpose. Transfer knowledge of counting patterns (2s, 5s, 10,s) to counting collections of money.

Resources

Resource: Blake Education Maths Centres Level 1.

Teaching tips

Requiring the students to record their patterns in their maths log, shows how they are thinking mathematically and whether or not they need further instruction; providing valuable feedback and a tool for assessment for learning.

23. How Many Ways can You Make ...

For the Student

In a class group brainstorm with the students the number of ways they can make each coin value.

How many ways can you make 5c, 10c, 20c etc?

In groups of four make your own charts in your maths logs of the number of ways you can make each coin value.

There will be five stations all representing one Australian coin. Station one will have the 5c and 10c coins. You are to visit every station and make that value in as many ways as you can.

You can trace the coin, rub the coins, use stamps or paste copies of coins in your maths logbooks. You may want to use a new page for each coin value.

At the end of the session we will regroup and share what we know.

For the Teacher

Combinations of money

Purpose

The purpose of this activity is for students to understand that different coins can be used to make the one monetary value, e.g. 20c can be made with two cent coins or one ten cent coin and two five cent coins or four five cent coins.

Teaching tips

Explicitly teach making combinations of coin values.

As a class brainstorm how many ways each coin value can be made, specifically focusing on addition.

Rotate the groups to each station, so each group has a chance of completing the activity for each coin value.

For instance:

Group 1 - 10c

10c

5c+5c

Group 2 - 20c

5+5+5+5= 20

10c +10c =20c

24. Ordering Your Lunch

For the Student

Look at the canteen menu and make a lunch order.

Remember about foods that are healthy for our body and mind. Write your lunch order items on a paper bag and identify and choose the appropriate coins needed to pay your lunch order.

Do you think you will be receiving any change? Estimate how much change you think you will receive.

Paste the paper coins onto the lunch order bag and place your lunch order in the tub.

When you receive your lunch order check the items in the lunch order bag and see if you were expecting change. Check the amount of change given with your estimation.

Extension 1: Students could identify other combinations of coins for their lunch value.

Extension 2: Students calculate change.

For the Teacher

Mini assessment lunch order

Purpose

The purpose of this activity is for students to apply their understanding of monetary values and coin combinations and change as an extension) to make payment for a mock school lunch order.

Teaching tips

Create photocopied money for the activity.

Some students may want to calculate change from a given $ amount, others may want to calculate the exact amount.

The more able students act as canteen servers and process the 'mock' lunch orders, giving change where appropriate.

Assessment comes from students' knowledge of identifying the right coins to include in their bag to pay for the order and more able students can calculate change.

25. How do I Get What I Want and Need?

For the Student

Re-look at the class Venn diagram of needs and wants.

"The unit is going on an excursion to a local park. We will be there for lunch. We are catching the bus and some of the play equipment has broken down. What three things would you need to buy to take with you? What three things would you want to buy to take with you?"

With the person next to you brainstorm what three things you need to take to the park. Record your needs in your maths log.

As a class come back together and find three common things you need to take to the park. Record these in the class math log.

With a different person define three wants you would take to the park. Record your needs in your maths log.

As a class come back together and find three common things you want to take to the park. Record these in the class math log.

Have you changed your opinion of what you need to take to the park and what you want to take to the park.

As a class record the three needs and wants on T-chart. Display in the classroom.

For the Teacher

Getting our needs and wants met

Revisit class description of needs and wants.

Pose a scenario to the class.

Needs could be - bus tickets, lunch, warm jacket

Wants could be...toy, sports equipment, lollies

Emphasise the fact they need to catch a bus and buy their food.

The purpose of this scenario is to understand the difference between needs and wants and turning the abstract concepts of needs and wants into concrete ideas. This will prepare them for selecting needs and wants for market day.

26. Did You Get What You Needed and Wanted?

For the Student

As a class come back together and find three common things you need and want to take to the park. Record these in the class math log.

What will be the consequences of the group not purchasing their basic needs prior to the 'excursion'?

Did the group consider the need to buy lunch and a bus ticket?

What will be the consequences of not purchasing your basic needs prior to the 'excursion'?

What similarities/differences occurred amongst the class.

Do we have similar needs?

Do we have similar wants?

Why might a need be a want to someone else?

Who suffers from not remembering the needs of the bus ticket and food?

Have you changed your opinion of what you need to take to the park and what you want to take to the park.

For the Teacher

Theorising needs and wants

Students' swap their T chart with another group. The children analyse what the other group identified as a need and want, looking specifically for the need to purchase lunch and a bus ticket.

Encourage discussion about: "What will be the consequences of the group not purchasing their basic needs prior to the 'excursion'?

27. Preparing for Market Day

For the Student

We will be holding a 'market day' . A market day is a time you will be buying and selling basic needs and wants to each other.

As a class lets' DECIDE what stalls we:

In small groups do a round robin to come up with ideas of need stalls and want stalls

  • 'need' to have?
  • 'want' to have?
NEED stall WANT stall

We will have a vote to decide on one need and one want stall for our class to run. The other classes in the unit will also have a need and want stall.

How much will you charge for each item?

Collate data from classes so as a unit you decide what to sell.

What will those stalls need (resources)?

Distribute money to classes based on need (how much each child has earned from savings class).

For the Teacher

Preparing for market day wants/needs

Purpose

The purpose of this activity is for students to decide what would be appropriate stalls for market day to meet students needs and wants.

Teaching tips

With teacher guidance students:

  • Decide on market stalls and goods/services to be sold/provided
  • gather resources needed for each stall.
  • decide on a price for each item to be sold.
  • distribute play money among classes dependent on need.
  • collate data from all classes to decide what to 'sell' on market day.

28. To Market, to Market

For the Student

You will be shopping for your needs and wants.

You will decide if you want to be a stall holder or a shopper. If you want to do both you will be given that opportunity.

Your buddy classes will be helping you to count and give change.

For the Teacher

Market day

Purpose

The purpose of this activity is for students to experience the role as a consumer identifying and buying needs and wants from market stalls, as well as being a shopkeeper to tally money spent.

Teaching tips

Students shop for needs and wants on Market Day using the money they have earned. They deal with whole and part dollar amounts.

Stall holders are guided by class buddies (year 3/4) ensuring correct change is given.

29. Independent Recount of Market Day

For the Student

Write/draw a recount that shows your experiences of market day.

In your recount include when, who, where and what to write your experience.

Include signal words to sequence events, past tense and first person as this is a direct recount of your experience.

For the Teacher

Independent recount of Market day

Purpose

Using the appropriate format for a recount, the students write/draw independently, a recount which shows their experiences of market day.

Teaching tips

Give students a recount template if required.

When Who Where What/Sequence of Events Feeling

30. Reflection on Market Day

For the Student

In a circle time experience reflect on the Market Day.

How did it feel not/to have your needs met due to lack of/sufficient funds?

Did you have enough money to buy what you needed?

Did you have any change to spend on your wants?

What could you do differently next time make sure your needs and wants are met?

For the Teacher

Reflection on market day critically

Purpose

The purpose of this activity is for students to reflect on their experience as a consumer in achieving their wants and needs.

Teaching tips

In a circle time experience, reflect on the Market Day.

Do a PMI and record student responses. The minuses might include responses such as:

I didn't have enough money

I lost my money card

I didn't get everything I wanted

31. What do You Know Now?

For the Student

Complete these tasks to show what you have learnt about money.

  • Naming Australian coins.
  • Ordering coins from lowest to highest value.
  • Matching coins to monetary value of product items.
  • Representing monetary values with different coin combinations.

Conduct new assessments.

  • Combining several coins to make a specific amount to buy an item.
  • Calculating change.

For the Teacher

Post-assessment

Purpose

The purpose of this activity is to assess students understanding of money. What they now know; learning outcomes achieved and where to next for individual students.

Teaching tips

Repeat initial assessment tasks.

  • Naming Australian coins.
  • Ordering coins from lowest to highest value.
  • Matching coins to monetary value of product items.
  • Representing monetary values with different coin combinations.

Conduct new assessments.

  • Combining several coins to make a specific amount to buy an item.
  • Calculating change.

32. Acknowledgements

The original version of this learning module was written by: Dominic Nixon, Veronica Rapp, Robyn Kiddy, Bec Roche, and Eileen Anthony.

Title: (Source); Fig. 1: (Source).