This is an example of currency used in colonial times. How has currency changed from Colonial times? Kindergarten: How is the United States currency similar or different from that of other countries? What other type of money is used in the United States? Standard SS.K.E.1.2 Recognize that United States currency comes in different forms. 1st Grade: How is the United States currency similar or different from that of other countries? If you visited Mexico, Canada, or Cuba, what goods might you buy? Standard SS.1.E.1.1 Recognize that money is a method of exchanging goods and services. 2nd Grade: How is the United States currency similar or different from that of other countries? Check the labels on your shirts and shoes. What types of goods does the United States get from other countries? Standard SS.2.E.1.3 Recognize the United States trades with other nations to exchange goods and services. 3rd Grade: Look at the image below of the characteristics of money from the Federal Reserve My Money book. What are the characteristics of money? Discuss the coin and paper money in terms of the characteristics. What other items can be used as money? What about chocolate? Beads? Salt? Crayons? SS.3.E.1.2 List the characteristics of money. 4th Grade: Why do people from other countries come to Florida to spend money?
Standard SS.4.E.1.2 : Explain Florida's role in the national and international economy and conditions that attract businesses to the state. 5th Grade: How did people use money in colonial times? Standard SS.5.A.4.4 Demonstrate an understanding of political, economic, and social aspects of daily colonial life in the thirteen colonies. Middle School Financial Literacy: You are planning a trip to Mexico. Some people have told you to exchange your money before you go. Others have advised you to wait until you get there. What should you do? How would you decide? Standard SS.8.FL.2.2 Analyze a source’s incentives in providing information about a good or service, and how a consumer can better assess the quality and usefulness of the information. Explain why advice from a source such as a salesperson may or may not be useful when deciding which product to buy. What is an ATM? (Automated Teller Machine) Many young children have seen these machines spit out money. Some kids think all you need is a magic card . . .and poof . . .money appears! Ask students if they have ever seen how an ATM works. Ask them to describe the process. Explain how people put money in a bank to save it. Then, when they need the money, they put in their card and get money out.
Kindergarten: How do we pay for things? Sometimes we use cash and sometimes we use credit cards. How do we use debit and credit cards at stores? What happens? It works like an ATM. When you give the store your card, the money is taken out of your bank account. SS.K.E.1.2 Recognize that United States currency comes in different forms. 1st Grade: How do we pay for things? Sometimes we use cash and sometimes we use credit cards. How do we use debit and credit cards at stores? What happens? It works like an ATM. When you give the store your card, the money is taken out of your bank account. SS.1.E.1.1 Recognize that money is a method of exchanging goods and services. 2nd & 3rd Grade: Your mom has to make a decision about taking money out of the ATM to buy a pair of fancy shoes she really likes or save the money. What should she do? What are the costs and benefits? SS.2.E.1.4 Explain the personal benefits and costs involved in saving and spending (third grade doesn't have a specific standard; however there are related standards about characteristics of money) 4rd Grade: What are some places people save money? When you save money in a bank, you can go inside and ask a teller to help you withdraw or take out money. Or you can go to the ATM. You can also deposit or put money into the bank to save it at the ATM. SS.4.FL.3.3 Identify ways that people can choose to save money in many places—for example, at home in a piggy bank or at a commercial bank, credit union, or savings and loan. 5th Grade: ATM's were first installed as new technology in 1969. Before that time, people used to have to go inside a bank and a teller would help them get money out of their accounts. Check out a brief history of ATM's from History.com. What is the impact of this new technology? SS.5.E.1.3 Trace the development of technology and the impact of major inventions on business productivity during the early development of the United States. Middle School Financial Literacy What are some places people save money? When you save money in a bank, you can go inside and ask a teller to help you withdraw or take out money. Or you can go to the ATM. You can also deposit or put money into the bank to save it at the ATM. How do you know your money is safe? Identify the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) as the government agencies responsible for insuring depositors’ savings and state the limit of FDIC and NCUA coverage. SS.8.FL.3.8 Explain that, to assure savers that their deposits are safe from bank failures, federal agencies guarantee depositors’ savings in most commercial banks, savings banks, and savings associations up to a set limit. Check out this umbrella. Why would someone put this picture on an umbrella?
Kindergarten: What do you think about when you look at this picture? What does it make you want to do? How does an advertisement like this make you think about your wants and needs? SS.K.E.1.4 Identify the difference between basic needs and wants. 1st Grade: What do you think about when you look at this picture? What does it make you want to do? An opportunity cost is the thing you give up when you make a choice. What might you have to give up in order to purchase a soda? SS.1.E.1.2 Define opportunity costs as giving up one thing for another. 2nd Grade: What do you think about when you look at this picture? What does it make you want to do? People have to make choices because resources–for example, money–are limited. What might you have to give up in order to purchase a soda? SS.2.E.1.1 Recognize that people make choices because of limited resources. 3rd Grade: What do you think about when you look at this picture? What does it make you want to do? If you want this soda what do you have to do? SS.3.E.1.1 Give examples of how scarcity results in trade. 4th Grade: What do you think about when you look at this picture? What does it make you want to do? An opportunity cost is the thing you give up when you make a choice. What might you have to give up in order to purchase a soda? SS.4.FL.2.1 Explain that economic wants are desires that can be satisfied by consuming a good, a service, or a leisure activity. SS.4.FL.2.2 Explain that people make choices about what goods and services they buy because they can’t have everything they want. This requires individuals to prioritize their wants. SS.4.FL.2.4 Discuss that whenever people buy something, they incur an opportunity cost. Opportunity cost is the value of the next best alternative that is given up when a person makes a choice. 5th Grade: What do you think about when you look at this picture? What does it make you want to do? An opportunity cost is the thing you give up when you make a choice. What might you have to give up in order to purchase a soda? Was this product available during colonial times? Did sellers of products use advertisements in colonial times? SS.5.A.4.4 Demonstrate an understanding of political, economic, and social aspects of daily colonial life in the thirteen colonies. Middle School Financial Literacy: What do you think about when you look at this picture? What does it make you want to do? An opportunity cost is the thing you give up when you make a choice. What might you have to give up in order to purchase a soda? What should you do before you make a decision to buy something based on advertising? How can you gather information about goods or services? SS.8.FL.2.1 Explain why when deciding what to buy, consumers may choose to gather information from a variety of sources. Describe how the quality and usefulness of information provided by sources can vary greatly from source to source. Explain that, while many sources provide valuable information, other sources provide information that is deliberately misleading. |
AuthorDeborah Kozdras, Ph.D. Archives
February 2022
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