MARCO TEÓRICO
2.9 Calidad de educación
2.9.1 Como asegurar una buena calidad de educación
REVENUE
How many units did you sell? ___________ What was your price per unit? ___________ What would you total revenue be? ___________
EXPENSES
What are your expenses for making the units you sold?
Resource Cost ________________________ __________ ________________________ __________ ________________________ __________ ________________________ __________ ________________________ __________ ________________________ __________ ________________________ __________ Total Expenses: __________
Which is higher, your revenue or expenses? ________________ Did you make a profit or a loss? __________________________
Grades 3-5
Math: Money Management
“Money Choices”
INTRODUCTION
Students read the book, Pigs Will Be Pigs—the story of a family of pigs who want to go out for dinner, but find they have to hunt for cash. In the first part of the lesson, students answer money math questions based on facts in the book. They learn how terminology can sometimes help them decide whether to add, subtract, multiply or divide when reading and solving a story problem. In the second part of the lesson, the students interview adults to explore why adults use different forms of payment. The class uses the information from the interviews to chart the advantages and disadvantages of using cash, checks, debit cards and credit cards. In a final activity, the students must decide what form of payment is appropriate in different spending situations.
PERSONAL FINANCE CONCEPTS
See the Glossary of Terms by following link for the following personal finance concepts.
Benefit Cash Check Choice Cost Credit card Debit card Decision making Interest Opportunity cost Resources Scarcity
CONTENT STANDARDS CORRELATIONS
This lesson can be used to teach these standards and benchmarks. TEKS 3-5 Math
111.15 Grade 3 The student
• (1 a-c) Number/operation/quantitative reasoning. Use place value to communicate about increasingly large whole numbers in verbal and written form, including money.
• (3 a-b) Number/operation/quantitative reasoning. Add and subtract to solve meaningful problems involving whole numbers.
• (4 a-c) Number/operation/quantitative reasoning. Recognize and solve problems in multiplication and division situations.
• (10) Geometry and spatial reasoning. Recognize that numbers can be represented by points on a line.
• (15 a-d) Underlying processes and mathematical tools. Apply Grade 3 mathematics to solve problems connected to everyday experiences and activities in and outside of school.
• (16 a-b) Underlying processes and mathematical tools. Communicate about Grade 3 mathematics using informal language.
• (17 a-b) Underlying processes and mathematical tools. Use logical reasoning to make sense of his or her world.
111.16 Grade 4 The student
• (1 a-b) Number, operation, and quantitative reasoning. Use place value to represent whole numbers and decimals.
• (3 a-b) Number, operation, and quantitative reasoning. Add and subtract to solve meaningful problems involving whole numbers and decimals.
• (4 a-e) Number, operation, and quantitative reasoning. Multiply and divide to solve meaningful problems involving whole numbers.
• (14 a-d) Underlying processes and mathematical tools. Applies Grade 4 mathematics to solve problems connected to everyday experiences and activities in and outside of school.(15 a-b) Underlying processes and mathematical tools. Communicates about Grade 4
mathematics using informal language.
• (16 a-b) Underlying processes and mathematical tools. Use logical reasoning to make sense of his or her world.
111.17 Grade 5 The student
• (1 a-b) Number, operation, and quantitative reasoning. Use place value to represent whole numbers and decimals.
• (3 a-c, e) Number, operation, and quantitative reasoning. Add, subtract, multiply, and divide to solve meaningful problems.
• (14 a-d) Underlying processes and mathematical tools. Apply Grade mathematics to solve problems connected to everyday experiences and activities in and outside of school. • (15 a-b) Underlying processes and mathematical tools. Communicate about Grade 5
mathematics using informal language.
• (16 a-b) Underlying processes and mathematical tools. Use logical reasoning to make sense of his or her world.
National Standards in Personal Finance Grade 4 Benchmarks
Students will know that:
• (Spending and Credit). To make a decision, careful consumers compare the benefits and costs
of each spending alternative
• (Spending and Credit). Every spending decision has an opportunity cost.
• (Spending and Credit). People pay for goods and services in different ways. • (Spending and Credit). Credit is a basic financial tool.
• (Spending and Credit). Borrowing money to buy something usually costs more than paying cash because there is afeefor credit.
• (Money Management). A decision-making process can help people make money decisions. Students will be able to:
• (Spending and Credit). Identify the benefits and costs of buying a specific product, such as a video game.
• (Spending and Credit). Identify the opportunity cost of a recent purchase.
• (Spending and Credit). Compare the advantages and disadvantages of paying with cash,
checks, debit cards, credit cards, or money orders.
• (Spending and Credit). Explain the advantages and disadvantages of using credit.
• (Spending and Credit). Explain the difference in cost between cash and credit purchases. • (Money Management). Make a financial decision, such as choosing between going to a
movie or saving money to buy a video game. Principles and Standards for School Mathematics All students should
• Understand numbers, ways of representing numbers, relationships among numbers, and number systems.
• Understand the place-value structure of the base-ten number system and be able to represent and compare whole numbers and decimals;
• Understand meanings of operations and how they relate to one another. • Understand various meanings of multiplication and division;
• Compute fluently and make reasonable estimates
• Develop fluency with basic number combinations for multiplication and division and use these combinations to mentally compute related problems;
• Develop fluency in adding, subtracting, multiplying, and dividing whole numbers; • Select appropriate methods and tools for computing with whole numbers from among
mental computation, estimation, calculators, and paper and pencil according to the context and nature of the computation and use the selected method or tool.
• Problem solving
• Build new mathematical knowledge through problem solving; • Solve problems that arise in mathematics and in other contexts; • Apply and adapt a variety of appropriate strategies to solve problems; • Monitor and reflect on the process of mathematical problem solving. National Council on Economic Education Voluntary Standards in Economics Students will understand that:
• (Scarcity) Productive resources are limited. Therefore, people can not have all the goods and services they want; as a result, they must choose some things and give up others.
• (Marginal cost and benefit) effective decision making requires comparing the additional costs of alternatives with the additional benefits. Most choices involve doing a little more or a little less of something: few choices are “all or nothing” decisions.
Students will be able to use this knowledge to:
• (Scarcity) Identify what they gain and what they give up when they make choices. • (Marginal cost and benefit) Make effective decisions as consumers, producers, savers,
investors and citizens.
STUDENT OBJECTIVES
Upon completion of this lesson, the students will be able to: 1. Solve money math problems using a restaurant menu. 2. Conduct an interview.
3. Identify the advantages and disadvantages of different forms of payment. 4. Choose the most appropriate form of payment in a variety of situations.
PERSONAL FINANCE BACKGROUND CONCEPTS
Resources are limited or scarce. Therefore, people cannot have all the goods and services they want, and they have to make choices about the goods and services that will satisfy their needs and wants. Goods are objects and services are actions that can satisfy people’s wants and needs. Whenever a choice is made, something is given up. The opportunity cost of a choice is the value of the best alternative given up. People whose wants are satisfied by using goods and services are called consumers.
People use money to buy goods and services. Money includes coins, currency and anything else people are willing to accept as payment. A lot of people are afraid they will lose coins and currency or that someone might steal this cash from them. Sometimes, especially with large purchases like cars and houses, it is also not very convenient to carry large amountsof coins and currency. In these situations, people may use a check or a money order. People who write checks have placed money in a special checking account at a bank. Their check tells the bank to give some of the money in their account to a person they have named on the check. They can write checks only as long as there is sufficient money in their checking account. Another way people pay is by using a plastic card. Some checking accounts have a plastic debit card that tells the bank to pay money in the account to a seller immediately. It is usable only if there are sufficient funds in the consumer’s account to cover the purchase. Another type of plastic card is a credit card. In contrast to other forms of payment, credit cards let you buy something now with only a promise that you will pay for it later. People who use credit cards often pay extra money, called interest, for the privilege of using someone else’s money for a period of time.
TIME REQUIRED
Two 50-minute classes
MATERIALS AND EQUIPMENT
• Axelrod, Amy (1994). Pigs will be Pigs, New York: Simon & Schuster Books for Young Readers (ISBN 0-689-81219-1)
• Transparency of Visual 1: Cash, Check or Credit Card?
• One copy of Activity Sheet 1: The Pigs Eat Out for each student
• One copy of Activity Sheet 2:The Pigs’ Math Problems for each student • One copy of Activity Sheet 3: How Do You Pay? for each student
PROCEDURE
Activity 1: Getting the Money to Eat Out
1. Introduce the lesson by telling students they are going to read a story about a family of pigs who have a problem—the pigs are hungry and they don’t have enough cash to go out to dinner.
2. Direct students to read or read to students Pigs Will be Pigs to find out how the pig family solved its money problem.
3. Discuss:
a. What happens when we don’t have enough money (scarce resources) to buy what we want?
(Answers will vary. Resources are limited or scarce. Therefore, they cannot have all the goods and services they want.)
b. What other things might the pig family have done with their scarce resources (money)? List their answers on the board.
(Answers will varyand might includegoing to a movie, playing video games, going to the zoo, or renting movies.)
c. When resources, such as money, are limited what did the pig family have to do?
(They had to make choices. They chose to use their money to go out to dinner and gave up others uses of their limited resources. Their next best choice was their opportunity cost.)
d. Ask the class to vote on which alternative activity they would want to use the money to do from those listed on the board?
(Answers will vary.)
e. Explain that the activity that got the most votes is the opportunity cost of using the money to go to dinner.
4. Distribute Activity Sheet 1: the Pigs Eat Out. Instruct the students to answer the questions on the activity sheet.
5. When all students have completed the Activity Sheet 1, discuss:
a. How much cash did the pigs have to go out for dinner?
($34.67)
b. How much money did the Pigs spend at the Enchanted Enchilada?
($31.96)
c. What math operation did you have to do to figure out how much money the pigs spent?
(Addition)
d. How much did the pigs have left?
($2.71)
e. What math operation did you have to do to figure out how much money the pigs had left?
(Subtraction)
f. On the activity sheet, how much did Mr. Pig’s meal cost?
($11.49)
g. How much did Mrs.Pigs meal cost?
($8.24)
h. What was the total cost of the Pig family meal when they went to the restaurant again?
i. What math operation did you have to do to figure out how much money it cost the pigs to go to the restaurant again?
(Multiplication and addition)
Activity 2: Math Problems Are Everywhere
1. Explain that math problems are all around us. Story problems often have special words that give clues what kind of math operation to perform. Demonstrate a few problems and underline the special words that will help students decide whether to add, subtract, multiply or divide.
a. The pigs found $1.00 and they spent $.78, how much money did they have left? The hint is the term “left” which tells students to find the difference by subtracting.
($1.00 - $.78 = $.22)
b. The pigs want to buy a toy that costs $2.00. They have $.50. How much more do they need? The hint is the term “more” which tells students to find the difference using subtraction.
($2.00 - $.50 = $1.50)
c. The Pig family wants to go to the movies. The tickets are $6.00 each. How much will it cost for all four pigs to go to the movies? “Each” is a signal that you may need to
multiply.
($6.00 x 4 = $24.00)
d. The two piglets have decided to share the cost of a new video game that costs $14.00. How much will each pig have to save to buy the game? The word “each” can also be a clue that you need to divide.
($14.00/2 = $7.00)
2. Distribute a copy of Activity Sheet 2: The Pigs’ Math Problems to each student. Direct them to work independently completing the nine story problems using the menu for the Enchanted Enchilada. Instruct them to create their own story problem for the final problem. 3. Check the answers of problems 1-9 as a class.
4. Ask students to share with the class the story problems they created. Check the math and story language of each student’s problem as a class.
Activity 3: How Do You Pay?
1. Explain to the students that when the pigs were searching for money to go to dinner, they were hunting for cash. Discuss:
a. What is cash?
(coins and currency)
b. The pigs were able to find enough cash to solve their money problem. What are other ways the pigs could have bought dinner without cash?
(Possible answers include a check, credit card, barter). Write answers on the board. c. Where does the money come from when you pay with a check?
(The money is in a special account the check writer has at a bank or credit union called a checking account.)
d. Where does the money come from when you pay with a credit card?
(The person with the card is borrowing the money and must pay it back later when the credit card bill comes.)
2. Explain to students that adults sometimes choose to pay with a check or a credit card instead of coins and currency. Each of these choices has advantages and disadvantages.
3. Distribute a copy of Activity Sheet 3: How Do You Pay? to each student. Tell students they are going to conduct a survey to find out why people choose these different forms of
payment.
4. Direct students to interview two adults they know to learn more about the advantages and disadvantages of different forms of payment when eating out.
5. The next day, draw a table on the board or overhead as shown below. Using the information collected in the survey, identify the advantages (benefits) and disadvantages (costs) of using the three forms of payment.
(Possible survey responses are provided in the chart)
Cash Check Credit Card
Advantages • Accepted by almost any local restaurant
• Limits amount that can be spent • Safer than carrying cash if robbed • Record of purchase at end of month
• Safer than carrying cash if robbed
• Can buy now and
pay later • Handy for unexpected meals out • Record of purchase at end of month
Disadvantages • Problem if don’t have enough money to cover bill
• Not always
accepted
• May need
identification
• May have to pay
fee to bank for checks
• Risk of spending more money than you have
• May have to pay
interest
Activity 4: How Will We Pay?
1. Distribute Activity Sheet 4: How Will We Pay? and ask students to answer the questions using the information in the chart the class has just completed. Remind them to include an explanation of their choices.
ASSESSMENT
To assess student learning, the instructor will evaluate:
1. Student participation using criteria in the following rubric as appropriate for activity and grade level.
Excellent Good Satisfactory Improvement Needs Knowledge Demonstrates complete comprehension through questions, answers and comments. Demonstrates substantial understanding through questions, answers and comments. Demonstrates some understanding through questions, answers and comments. Demonstrates little or no understanding. Preparation
Always prepared for class with
assignments and required class materials.
Usually prepared for class with
assignments and required class materials.
Rarely prepared for class with
assignments and required class materials.
Almost never prepared for class with assignments and required class materials. Level of Engagement Proactively contributes to class by offering ideas and asking questions more than once per class. Contributions are timely and appropriate.
Proactively contributes to class by offering ideas and asking questions once per class. Contributions are timely and appropriate.
Rarely contributes to class by offering ideas and asking questions OR contributions are occasionally not timely and appropriate. Never contributes to class by offering ideas and asking questions. Nearly all
contributions are inappropriate.
Mathematics
No math errors. No major math errors or serious flaws in reasoning.
May be some serious math errors or flaws in reasoning.
Major math errors or serious flaws in reasoning.
Strategy & Procedures
Always uses an efficient and effective strategy to solve the problem(s).
Typically uses an effective strategy to solve the problem(s).
Sometimes uses an effective strategy to solve problems. Rarely uses an effective strategy to solve problems. Mathematical Terminology & Notation Correct terminology and notation are always used, making it easy to understand what was done.
Correct terminology and notation are usually used, making it fairly easy to understand what was done.
Correct terminology and notation are used, but it is sometimes not easy to understand what was done.
There is little use, or a lot of inappropriate use, of terminology and notation. Vocabulary & Grammar Vocabulary and grammar are consistently about grade level. Vocabulary and grammar are almost always consistent with grade level.
Vocabulary and grammar is usually consistent with grade level.
Vocabulary and grammar are below grade level.
Delivery
Speaks clearly and distinctly all the time. Volume is loud enough to be heard by all classmates.
Speaks clearly and distinctly nearly all the time. Volume is loud enough to be heard by all classmates.
Speaks clearly and distinctly most of the time. Volume is loud enough to be heard by most classmates.
Often mumbles or cannot be understood. Volume is often too soft to be heard by most classmates.
Listening Skills
Listens when others talk. Incorporates or builds on the ideas of others.
Listens when others
talk. Does not listen when others talk. Does not listen when others talk.Often interrupts when others