ALEX Classroom Resource

Strand: Economics

Course Title: Living and Working Together in Family and Community and State

Students:

• Understand the primary role of money in everyday life.
• Categorize family purchases as needs or wants.
• Explain the purpose of saving and borrowing.
• Identify the differences between buyers and sellers.
• Classify specialized jobs in relation to the product of goods and services.
• Use vocabulary that is associated with the function of money.

Students know:

• How money plays a role in everyday life.
• The difference between goods and services (for example, goods- food, toys, clothing; services - medical care, fire protection, law enforcement, library resources).
• How money is the primary way to make purchases.
• How money is earned through working (for example, job, chores, etc.).
• The difference between purchases of needs and wants within their family.
• How people save and borrow money.
• How to differentiate between a buyer and seller.
• Vocabulary: money, needs, wants, saving, borrowing, buyers, sellers, specialized jobs, goods, services, barter, trade, spend, save

Students are able to:

• Recognize the primary role of money in everyday life.
• Identify and describe needs and wants.
• Describe saving and borrowing.
• Describe buyers and sellers.
• Describe the role specialized jobs play in the production of goods and services.
• Identify and use appropriate vocabulary associated with the function of money (for example, barter, trade, spend, save).

Students understand that:

• Money plays a role in everyday life.
• Families make purchases of needs and wants. Students understand the concept of saving and borrowing.
• There is a difference between buyers and sellers.
• We can classify the specialized jobs of workers with regard to production of goods and services.
• There is an appropriate vocabulary to use to describe the function of money.

Students:

• identify nickels and quarters.
• find the value of a combination of coins.
• solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using dollar and cent symbols appropriately.

Students know:

• the value of pennies, nickels, dimes, and quarters.
• ccounting sequence and skip counting by 1s, 5s, and 10s.
• strategies for solving word problems.

Students are able to:

• use problem solving strategies to solve word problems involving a variety of coins.

Students understand that:

• a variety of strategies can be used to model and solve problems involving money.
• mathematics procedures can be used to answer questions involving daily life situations.

Learning Objectives:
M.2.24.1: Determine the monetary value of a set of like and unlike bills.
M.2.24.2: Determine the monetary value of a set of like and unlike coins.
M.2.24.3: Apply addition and subtraction strategies.
M.2.24.4: Understand key words in addition and subtraction word problems involving money.
Examples: adding to, taking from, putting together, taking apart, sum, difference, all together, how much more, how much is left, in all, cents, dollar, change, paid, total.
M.2.24.5: Count forward from a given number by ones, fives, tens, and twenty-fives.
M.2.24.6: Identify coins and bills and their value.
M.2.24.7: Identify symbols for dollar ($), cent (¢).
M.2.24.8: Identify coins by name including penny, nickel, dime and quarter.
M.2.24.9: Sort pennies, nickels, dimes, and quarters.
M.2.24.10: Count 10 objects.
Examples: pennies and dollar bills.