HPISD Second Grade Math UNIT 11 ESTIMATED DURATION 9 WEEKS FINANCIAL LITERACY 3 WEEKS 1 2 3 4 Unit Overview The student applies mathematical process standards to manage one s financial resources effectively for lifetime financial security. Enduring Understandings The student will understand that: Concepts Being financially literate is a daily life skill Math can help make decisions about saving and spending money Saving money can add up to more money A person can lend and borrow money The amount of money in an account changes when there is a deposit or a withdrawal People can be producers, consumers, or both Finance Guiding/Essential Questions Describes, compares, and calculates financial situations when it would be appropriate to spend, save, earn, lend, borrow, donate Explain how spending differs from saving. In what ways are people both consumers and producers, and why are both important? Explain choices people have to make when using goods and services What would be an example of responsible/irresponsible borrowing? Why is it beneficial to save money over time? Prerequisites & Learning Targets Progressions Prerequisites: Define money as earned income identify income as a means of obtaining goods and services, oftentimes making choices between wants and needs Count a collection of coins up to a dollar Define the financial vocabulary words of needs, wants, goods, services, producer, consumer, income Describe that producers goal is to make money and consumers goal is to spend money for a good or service
Students will calculate the cost of a simple item based on the knowledge of producer and consumer 3.9(A) Describe the relationship between the availability or scarcity of resources and how that impacts cost. Make connection that producers are adding money and subtracting quantity (good/service) while consumers are subtracting money but adding quantity (good/service) Distinguish between spending and saving Students will understand that money saved over time will accumulate to a larger amount as opposed to spending it Define the financial vocabulary words of saving, spending, and accumulate Understand where and how to save money Adding money to original amount is accumulating 3.9(C) Identify the costs and benefits of planned and unplanned spending decisions 3.9(E) List reasons to save and explain the benefit of a savings plan, including for college Understand that lending is borrowing and you can t keep it Students will identify examples of lending and use that knowledge to generate examples and differentiate between responsible and irresponsible borrowing Define the financial vocabulary words of borrowing, lending, responsible, irresponsible Understand how borrowing and receiving a gift are different Know that lending is borrowing and you can t keep it 3.9(D) Explain that credit is used when wants or needs exceed the ability to pay and that it is the borrower s responsibility to pay it back to the lender, usually with interest
Understand that you can put money in the bank and take money out of the bank Students will distinguish between deposit and a withdrawal 3.9(F) Identify decisions involving income, spending, saving, credit, and charitable giving Define the financial vocabulary words of deposit and withdrawal Know that depositing is putting money in the bank (adding) while withdrawal is taking money out (subtracting). Make the connection that the more money a person deposits the more they are saving Formative Assessments Summative Assessments TEKS Readiness Standards TEKS Supporting Standards 2.5A Determine the value of a collection of coins up to one dollar. 2.5B Use the cent symbol, dollar sign, and the decimal point to name the value of a collection of coins. 2.11A Calculate how money saved can accumulate into a larger amount over time. 2.11B Explain that saving is an alternative to spending. 2.11C Distinguish between a deposit and a withdrawal. 2.11D Identify examples of borrowing and distinguish between responsible and irresponsible borrowing. 2.11E Identify examples of lending and use concepts of benefits and costs to evaluate lending decisions. 2.11F Differentiate between producers and consumers and calculate the cost to produce a simple item.
TEKS Process Standards See listed in Unit 1. Processes and Skills: What students should be able to DO Calculate the value of a collection of coins Use addition/subtraction strategies to calculate a total amount Provide examples of borrowing, lending, producers, and consumers Explain the concept of spending and saving Give examples of responsible and irresponsible borrowing Calculate the cost of a simple item Facts: What students should KNOW Name and value of a coin Different ways to show the same amount Multi-step problem solving Functions of a bank Difference between lending/borrowing, producer/consumer, saving/spending, deposit/withdrawal A person can be a producer and consumer When borrowing something, you must give it back When you save, you are adding money over time Topics Saving Money Building Savings Over Time Lending Money Borrowing Money Money in a Bank Problem Solving: Analyzing Given Information Language of Instruction borrow calculate cash change cost currency consumer deposit dollar sign expense Irresponsible loan owe price producer profit purchase responsible save spend total withdrawal
lend State Assessment Connections National Assessment Connections Resources http://economics.server282.com/wp-content/uploads/2010/07/k-5_math.pdf bizworld.org Pearson Topic 16 16-1 Saving Money 16-2 Building Savings Over Time 16-3 Lending Money 16-4 Borrowing Money 16-5 Money in a Bank 16-6 Problem Solving - Analyze Given Information Save and Spend Story with questions http://ecedweb.unomaha.edu/lessons/savek-2.pdf