Title of Unit: Fun with Money! Title of Lesson: What is Money?

Submitted By: Tylor Striegel

A. Summary of the Lesson Plan: This is a lesson plan designed to teach 1st grade students basic economics. The students will learn what trade is, as well as learning what money is. B. Target Population: Grade Level: 1st grade Skill Level: Grade Level Grouping: Whole-class for discussion, Groups for trading C. Materials: 20 pop-a-point pencils 20 pencil-top erasers 20 copies of the worksheet (found on last page) D. Objectives: o NV State Social Studies Standards o E10.1.1 Explain what money is and how it is used. E12.1.1 Define trade.

Student-Friendly Standards I can explain what money is and how it is used. I can define what trade is.

E. Procedure: 1. As a class, ask students if they know what trade is. Use guided questioning to help the students figure out what trade is. 2. Break students into groups of four. Give two of the students in a group 2 pop-a-point pencils (they do not have erasers on them), and give the other two students pencil-top erasers. Explain to students that these are not yet theirs to keep. Explain to students that trade happens when they need something that somebody has, but they have something that person needs. 3. Show students exactly how trade works by explaining to the students that if you have two pencils, but no erasers, you cant use the pencils because you cant fix any mistakes. If you have two erasers, but no pencils, you cant write anything because you dont have any pencils. I will make sure every student understands this concept. I would then ask the students how they could use trade to make sure that they each had a pencil AND an eraser (guide the students to the answer if necessary). After each student trades one pencil for one eraser, or vice versa, every student should have a pencil and an eraser that is theirs to keep.
Nevada State College EDEL 453 - Spring 2013 Karen Powell- Instructor page 1

Title of Unit: Fun with Money! Title of Lesson: What is Money? Submitted By: Tylor Striegel

4. Explain to the students that this is how people used to acquire the things they needed, but that nowadays we mostly use money. Ask the students if they know what money is, and what it is used for. 5. CLOSURE: Reiterate what trade is, and explain what money is. Each student will receive a worksheet to fill out for homework. F. Assessment: What will you use to measure student understanding? I will use the answer to the homework to measure student understanding of both the idea of trade as well as what money is used for. Explain how you will know students understand the concepts from the lesson. If the students can solve the basic word problem (found on the homework), they will have an understanding of how trade works. If they can list three things that their parents use money for, they will have an understanding of how many works and what it is used for. G. Reflection: 1. Which part of the lesson do you think will be the easiest for you to teach? I think the easiest for me to teach will be what money is. I believe this because I think many of the students will already have a basic understanding of what money is. 2. Which part will be most challenging for you to teach? The part that will be most challenging will probably be the concept of trade. I feel that showing them how trade works by using the pencils and erasers is effective, but there might be some issues with giving things to the students. 3. How will you follow up or extend this lesson? I will follow up this lesson plan with my next lesson plan that focuses on the form and function of money. 4. What will you do for students who dont grasp the concepts? For students who dont grasp the concept of trade, they will be reinforced in a later lesson. The students who might not yet grasp what money is and how it is used will be taught again in the following lesson. 5. Which part of the lesson, if any, do you think might need to change? I might have to use different materials to show what trade is depending on cost

Nevada State College

EDEL 453 - Spring 2013

Karen Powell- Instructor

page 2

Title of Unit: Fun with Money! Title of Lesson: What is Money? Submitted By: Tylor Striegel

6. When you were writing this lesson plan, what was the most difficult part? The most difficult part was coming up with the idea to show trading.

Nevada State College

EDEL 453 - Spring 2013

Karen Powell- Instructor

page 3