Unit Plan: Economic Experience: Saving $

Lesson Plan for Thursday Grade: 2nd Grade Social Studies Strand: Economic

Submitted By: Rebecca Waltz

EDEL 453: Teaching Elementary School Social Science Nevada State College Spring 2014 Instructor: Karen Powell

Lesson Plan for Thursday

Strand: Economic

submitted by: Rebecca Waltz

B. Summary of the Lesson Plan:

This social studies lesson is designed for 2nd grade students to learn to provide reasons for why people save their money. The lesson uses inspiration from the Houghton Mifflin Social Studies textbook Neighborhoods (p. 180-184).

C. Basic Information: Grade Level: 3rd grade Time to Complete this Lesson: 50 minutes Groupings: Individual, Partner, and Teams

D. Materials: Study Guide/ Homework (Unit Resources p.56) for each student (sample at bottom of TE 183) Alexander Who Used to be Rich Last Sunday by Judith Viorst Reteach Mini-Lesson Two Column Graphic Organizer to be displayed on ELMO or Smartboard (sample at the bottom of TE 183) One post it note per student Pencils 3 new items for the store 1 bulletin board for posting post it notes ( Referred to as This STUCK with me:) 1 Class Checkbook poster board (See Pre Lesson notes) E. Objectives: o o NV State Social Studies Standards E.10.2.2 Identify reasons for saving money. Student-Friendly Standards I can share reasons why people save money to purchase needs and wants later.

F. Vocabulary Price the cost or the amount of money consumers pay for goods Savings account a service provided by a bank in which they keep money stored for consumer use. Bank a safe place where people can keep their money until they need to use it.

G. Procedure:
Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 2

Lesson Plan for Thursday

1. Pre-Lesson Prep: o

Strand: Economic

submitted by: Rebecca Waltz

Add a new set of good to the classroom store. They can be any item, but the prices need to be priced high so that students have to save their money overtime to purchase them. These items need to have big price tags so that students can easily see that they cost more. For the sake of this lesson, the items are three gift certificates: Bring a stuff animal buddy for a day, Choose the music during independent reading time, and watch your favorite episode of Libertys Kids television show. Make sure there is a place for students to put closure post it notes. I recommend a thematic or catchy bulletin board. For this lesson, it will be referred to as the This STUCK with me: bulletin board. Create a Class Checkbook poster. It should be used to record each deposit and withdrawal a student makes to the Class Bank. It should be made so that students can easily check their balance. It should look something like the following:
Week 1 Old Balance Student 1 Student 2 Student 3 0 Deposit Withdrawal New Balance $5 Week 2 Old Balance $5 Deposit Withdrawal New Balance $15

$5

$10

$10

$5

$5

$5

$15

$5

$15

$5

$5

$5

$20

$15

$10

2. Read aloud Alexander Who Used to be Rich Last Sunday by Judith Viorst o o o Use the think aloud strategy to comment on Alexanders impulse buying and focus on vocabulary (price, saving) before moving on. Ask students to predict what todays lesson is going to be on based on the book. Ask students if they have any suggestions for Alexander so that he can buy his walkie-talkies. Encourage them to remember those good ideas as we learn more about saving money today.

3. Remind students that our class store sells a lot of goods which they can buy with their weekly income or money they earned by doing their class job. Now introduce the new high priced items. As students to compare the cost of the items theyve seen in the store compared to the cost of the new items. Help guide and negotiate the conversation so that students acknowledge the price of the new items is VERY high. 4. Now compare current savings to price. o o
Nevada State College

Introduce vocabulary (price) Read the vocabulary price aloud with the whole class.
EDEL 453 - Spring 2014 Karen Powell- Instructor page 3

Lesson Plan for Thursday

o o

Strand: Economic

submitted by: Rebecca Waltz

Ask the students how they know find the price of items in the class store or other stores. Students should count their total money. Ask them to compare the amount of money they have and compare it to the prices of new items. Ask if anybody can buy the item today. (Nobody should be able to buy it). Using Talking Chips in their table groups, ask students to brainstorm some ideas of what they need to do to buy one of the new items. Randomly call on one student per table group and ask students to share one answer their team came up with. IF students dont mention saving up their money, prompt them to think about Alexander and how he wanted couldnt buy his walkie talkie. Mention that Many people are careful to not spend all their income. When they do this, they are saving their money. (TE 182) Using Talking Chips in their table groups, students should suggest some reasons why some people save their money. Model this for the student before asking the students to. For example, Some people save up money to go on special trips to Disneyland. Randomly call on one student per table group and ask students to share one answer their team came up with. Using the two-column chart, record their answers on the left side of the chart. Make sure the chart is displayed so students can see it and reference it throughout the lesson.

5. Discuss saving money and why people save money. o

o o

6. Discuss where money is stored and introduce the concept of banks and saving accounts. o o Have students think about all the places where theyve seen money stored. Students should Rally Robin with their shoulder partner about where theyve seen money stored. (Example: Piggy banks, jars, banks, purses, their desks). Randomly call on one student per table group and ask students to share one answer their partner came up with. Using the two-column chart, record their answers on the right side of the chart. Make sure the chart is displayed so students can see it and reference it throughout the lesson. Introduce Vocabulary (banking and savings account) Students should Rally Robin with their shoulder partner about why banks are safer than keeping their desks, jars, or homes. Randomly call on one student per table group and ask students to share one answer their partner came up with. Guide the conversation if need be about money getting lost, stolen, or how people might be willing to spend if its in their pocket. Explain and open up for class discussion about how the Class Bank can help students to save up for the new high priced items. Team by team, have students put some money in the bank (give their class money to the teacher) and record that amount on Class Checkbook Poster.
EDEL 453 - Spring 2014 Karen Powell- Instructor page 4

o o

7. Introduce the Class Bank. o o

Nevada State College

Lesson Plan for Thursday

Strand: Economic

submitted by: Rebecca Waltz

8. Students should individually complete the Study Guide/ Homework (Unit Resources p.56) (sample at bottom of TE 183) for an assessment. H. Assessment: What will you use to measure student understanding? The worksheet mentioned in step 8 is going to be used as the assessment of this lesson. The first part evaluates the students understanding of vocabulary by having the student insert them in a CLOZE format. The second question asks students to acknowledge that there is something they are saving up for. Explain how you will know students understand the concepts from the lesson. Students that demonstrate the correct usage of the vocabulary in part 1 of the worksheet illustrates that they understand the purpose of banks and saving account. Additionally, they connect with saving personally by listing an example of something they want to save up for which directly meets the standard objective listed. I. Closure: Students will choose one of the following Reflection STEM responses to write on a post-it note and put on the This STUCK with me: bulletin board: o o o o One reason people save money is _______________________. My goal is to buy __________________by saving my money. The bank is a safe place to put my money, because ____________. My bank account goal is $______________so I can buy _________________________.

J. Reflection: 1. Which part of the lesson do you think will be the easiest for you to teach? The read aloud of Alexander Who Used to be Rich Last Sunday will be the easiest part of me to teach. I loving incorporating read alouds and think alouds into lessons. 2. Which part will be most challenging for you to teach? I think the discussion about why banks are places to keep money safe might be difficult if students to reach that connection on their own. Its a topic not addressed in the read aloud. 3. How will you follow up or extend this lesson? This lesson will continue to be revisited as students put more money in the bank each week and save up towards their goal. Additionally, the concepts Im going to post for students that dont grasp the concepts can also be used as great follow up mechanisms. 4. What can you do for students who dont grasp the concepts?
Nevada State College EDEL 453 - Spring 2014 Karen Powell- Instructor page 5

Lesson Plan for Thursday

Strand: Economic

submitted by: Rebecca Waltz

First, I think I would have my struggling students watch this movie about saving from brainpopjr.com : http://www.brainpopjr.com/socialstudies/economics/savingandspending/ They would need to take the easy quiz BEFORE the video and then the hard quiz after. Students would need to score at least a 4 of 5, before I was comfortable that they were beginning to grasp the subject. Then I would give them another practical application by playing the following game: http://pbskids.org/itsmylife/games/mad_money_flash.html 5. Which part of the lesson, if any, do you think might need to change? I would have liked to make each student an individual laminated checkbook, but for the sake of simplicity I didnt incorporate that. If I actually implement this class economic system, I definitely change the lesson to include personal books instead of the poster. 6. When you were writing this lesson plan, what was the most difficult part? For this lesson, I struggled with assessment, because I wasnt happy with my phrasing, because I didnt feel that it actually met the standard objective or reviewed the vocabulary thoroughly. I actually was writing CLOZE statements or considered a journal entry before I realized that the textbook had already provided a well written worksheet that met both of those needs.

Nevada State College

EDEL 453 - Spring 2014

Karen Powell- Instructor

page 6