I. Curricular Framework

Concept:

Economics

Essential Question:

Why does money have no value in and of itself?

Bridge:

Representation of Value

Content:

The Concept of Money

Outcomes:

II. Standards Aligned

III. Instruction and Assessment

1. Connect: Connecting to the Concept Experientially

Objective: To connect to the experiences children have had with money.

Activity: Have students seated in a circle and sing the "Miss Mary Mack" song.

Assessment: Enjoyment and involvement of the children.

2. Attend: Attending to the Connection

Objective: To use Miss Mary Mack as a vehicle for discussing experiences with money.

Activity: Teacher-led discussion: what did Mary Mack barter in the song? What did she buy? What is the difference between the two transactions? How are they the same? How are they different?

Assessment: Quality of student responses.

Assessment, Phase One, Level of Engagement, Fascination:

3. Image: Creating a Mental Picture

Objective: To help students understand what money stands for.

Activity: Present the class with a paper dollar bill. Point out that it is only a piece of paper, and dramatically rip it in half. Discuss their reactions. What really is money and what does it stand for?

Assessment: Student reactions and discussion.

Assessment, Phase Two, Seeing the Big Picture:

4. Inform: Receiving Facts & Knowledge

Objective: To teach students that money is used to buy things and makes bartering easier.

Activity: Teach students why money was developed, how it is used, and what it represents. Read "Paper and Coins:" What is money Paper and coins But what can it bring A toy, a book, a puzzle An object, or a thing. What is Money Paper and coins But what can it buy An art or music lesson or A plane ride in the sky Money has no value Except for what it brings Like many kinds of services And different kinds of things.

Assessment: Teacher observation of student interest and participation in lesson.

Assessment, Phase Three, Success with Acquiring Knowledge:

5. Practice: Developing Skills

Objective: To provide practice in discriminating the use of money vs. bartering for goods and services.

Activity: Check for understanding with a teacher-prepared worksheet.

Assessment: Student performance on worksheet.

Assessment, Phase Four, Success with Acquiring Skills:

6. Extend: Extending Learning to the Outside World

Objective: To extend students' understanding of money and its use.

Activity: Student projects: working in small teams, give students drawing paper and markers and ask them to draw the life of a dollar bill from beginning to end. Where all could your dollar go? Who and what could it be exchanged for? Where would it live?

Assessment: Students contribution to the task.

7. Refine: Refining the Extension

Objective: To critique each group's Life of a Dollar project.

Activity: Student groups will share their posters for comments from the teacher and the class.

Assessment: Students ability to share and critique.

8. Perform: Creative Manifestation of Material Learned

Objective: A final celebration of what we have learned.

Activity: Students are each given "music money." We set up our classroom store and students have the opportunity to purchase goods and services from each other.

Assessment: Enjoyment of the activity.

Assessment, Phase Five,Performance, Creative Use of Material Learned: