
Reframing Financial Literacy
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Content
- Intro
- Reframing Financial Literacy
- Exploring the Value of Social Currency
- CONTENTS
- Section I: Conceptions of Financial Literacy, Citizenship, and Identity
- 1. Connecting Financial Literacy and Political Literacy Through Critical Pedagogy
- 2. Garbage Trucks and Deposit Slips: The Disconnect Between Life Experiences and the Economics Curriculum of South Africa
- 3. Conceptualizing Financial Morality
- 4. Young Canadian Women's Financial Literacy
- 5. Understanding African American Wealth Attainment: Implications for Leaders
- 6. Comparing Undergraduate and Graduate Students' Perceptions of Financial Morality
- 7. Moral Responsibility and Leadership: How Managers Deal with Practical Moral Conflicts
- 8. Intersections of Identity and Ideology in Learning About Financial Capability
- Section II: Educational Issues
- 9. A Sense of Values: Developing Financial Capability in Scottish School Curricula
- 10. The Efficacy of Financial Education in the Early Grades: Results From a Statewide Program
- 11. Using Technology to Develop a Broad Understanding of Financial Literacy Among K-12 Students
- 12. Mapping Financial Futures and Developing Social Capital: Decision-Making About Career, Specialization, and Interest Rates
- 13. Using Art and Community Investigation to Motivate Preservice Teachers' Learning and Teaching of Social and Economic/Financial Justice Issues
- 14. Home Interactions, in the Context of Learning About Numbers 1-100: How Do Romanian Parents Teach Place Value to Their Children?
- Reframing Financial Literacy
- Exploring the Value of Social Currency
- edited by
- Thomas A. Lucey Illinois State University
- and
- James D. Laney University of North Texas
- Information Age Publishing, Inc.
- Charlotte, North Carolina www.infoagepub.com
- Foreword to Reframing Financial Literacy: Exploring the Value of Social Currency
- Mark C. Schug
- What We Know That May Be So
- Going Beyond What We May Know
- References
- Introduction
- Acknowledgments
- References
- section i
- Conceptions of Financial Literacy, Citizenship, and Identity
- CHAPTER 1
- Connecting Financial Literacy and Political Literacy through Critical Pedagogy1
- Paul R. Carr
- Critical Pedagogy and Financial Literacy
- 1. Joe Kincheloe (2008a) puts it quite simply: critical pedagogy is the study of oppression. According to Kincheloe (2007), a critical synthesis of critical pedagogy includes the following components:
- 2. The development of a social individual imagination.
- 3. The reconstitution of the individual outside the boundaries of abstract individualism.
- 4. The understanding of power and the ability to interpret its effects on the society and the individual.
- 5. The provision of alternatives to the alienation of the individual.
- 6. The cultivation of a critical consciousness that is aware of the social construction of subjectivity.
- 7. The construction of democratic community-building relationships between individuals.
- 8. The reconceptualization of reason-understanding so that relational existence applies not only to human beings but concepts as well.
- 9. The production of social skills necessary to activate participation in the transformed, inclusive democratic community.
- Is a Little Bit of Honey Better Than a Glass of Vinegar?: Using Force to Extract Gain
- War, Democracy, and the Political Economy of Financial Literacy
- Conclusion: Linking Critical Pedagogy, Democracy, Militarization, and Financial Literacy
- 1. Producing a curriculum that allows for critical inquiry, engagement, and different forms of evaluation that challenge neoliberalism, militarization, and social inequality
- 2. Providing training, support, and professional development for teachers to be able to comfortably and effectively teach about and for critical forms of financial literacy
- 3. Amending regulations, policies and institutional cultural practices that inhibit critical engagement in schools, including the limited notion of accountability, the overreliance on standardized tests, and other market-based reforms that have consi...
- 4. Enhancing community participation in schools so as to be able to illustrate divergent forms of economic development and reality outside of Wall Street and government-based economic policy
- 5. Linking financial literacy and economics more directly to other disciplines and areas of study
- 6. Revamping the notion of the educational leadership to focus more directly on social justice, equity, and critical engagement as opposed to what is considered "high academic achievement," which has relegated the former concepts to the proverbia...
- 7. Recommitting to a more holistic, dynamic, interdisciplinary, engaged, and critical form of education as opposed to elitist interpretations of education that greatly disadvantage poorer, working- class students, families, and communities.
- Discussion Questions
- 1. How important is financial literacy for one to be able to effectively participate in democracy?
- 2. In light of the arguments raised in this chapter, what are some of the advantages and concerns that relate to democracy?
- 3. Given the macro context outlined in this chapter in relation to militarization and hegemony abroad, how can educators best teach about financial literacy?
- 4. What are some of the concerns with voting/electoral systems within democracy, and how do they relate to financial literacy?
- 5. How could teaching critical pedagogy assist in helping to shape a more robust, critical, and meaningful form of democracy?
- Model Lesson
- The Different Types of Democracy3
- Suggested Grade Level: 5th Grade
- Objectives:
- (a) Given the opportunity to experience different type of democracies, the learner will write a paragraph about the benefits of each and decide which one s/he would prefer and why.
- (b) Given the background information of the different types of democracy, the learner will speak critically about each during the class discussions.
- Materials:
- Procedures:
- (a) Opening Activities
- 1. Greet the class and introduce the lesson, by asking the students what they know about democracies. Also inquire about what may they know about the different types. (Direct Democracy-when all the citizens who wish to be involved take part in electi...
- 2. Once the students have begun talking about democracy, explain they vote on something meaningful to them by using the different types of democracy. (The item for which the class will be voting will vary from class to class depending on the students...
- 3. The students begin the activity by casting individual votes on pieces of paper. This process represents one of the types of democracy (Direct Democracy).
- 4. The ballots are collected but not tallied until the end.
- 5. The students are divided up by the teacher into groups of 5 or6, depending on class size.
- 6. The students in each group select one person in their group who they think will best represent their votes. After each group picks its "representative," the selected person listens to the group's wants and casts a vote on behalf of them all ...
- 7. For the final activity, each chosen "representative" comes to the front of the class and tells the class what s/he believes the best idea is. The whole class then votes for one of these "representatives"- the one they think best represen...
- (b) Developmental Activities
- 1. When the class completes the three different types of voting, the teacher writes the results from each voting activity on the board.
- 2. The teacher asks the students which option they think best represents the wants of the class
- 3. The teacher initiates a discussion of how each type of democracy that they experienced is a reflection of the democracies in the United States and other countries. (Examples: Direct-Switzerland and the U.S. Representative: Australia, Canada, and U...
- 4. After the students have found real life examples of the three different types of democracy, the teacher begins asking guided discussion questions, such as the following examples.
- (c) Closing Activities
- 1. After hearing the different ideas discussed in the activities, teacher will debrief the students about the processes that they experienced and the choices made. The teacher should keep in mind all the outcomes of the voting using the different typ...
- (d) Summary and Assessment
- 1. After the lesson activities, the learner writes about the costs and benefits of each democracy type and which one s/he would prefer and why.
- 2. The assessment measures performance two areas. The first relates to the nature of students' thinking during the guided discussions. The teacher keeps a list of tallies/checkmarks during the discussions as to who participated in a critical way. T...
- Notes
- References
- CHAPTER 2
- Garbage Trucks and Deposit Slips
- The Disconnect Between Life Experiences and the Economics Curriculum of South Africa
- Benjamin R. Wellenreiter
- Botshabelo
- The EMS Curriculum
- Recommendations and Conclusions
- Acknowledgments
- Discussion Questions
- 1. How can environmental factors such as access to potable water and affordable electricity in communities in which learners live influence their conceptualizations and applications of economic and financial concepts?
- 2. Many assessments include references to experiences that may be beyond the reach of many learners (e.g., questions regarding ATM machines or internet usage). How can wording of assessments potentially marginalize learners who come from underserved ...
- 3. What are some strategies classroom teachers can realistically employ to assist learners in overcoming the economic and financial barriers, such as lack of access to formal financial services, in their communities?
- 4. How should teachers best approach classrooms in which learners have large differences in their exposure to, and experience with, formal financial processes?
- 5. Who is responsible for increasing social currency among learners in underserved communities? Governments, teachers, private-sector financial institutions, and/or learners?
- Model Lesson
- Community Planning- How Basic Systems Affect Our Lives
- Suggested Grades: Middle Level Grades
- (a) Learners will describe infrastructure systems that influence their daily lives.
- (b) Learners will explain how infrastructure systems interact to maintain current standards of living.
- (a) Opening activities
- 1. In this activity, learners are given the role of community planner. They create a list of basic infrastructure needs (e.g., road maintenance, water systems, electrical grids, gas lines, garbage disposal, and telecommunications systems) and priorit...
- 2. Teacher begins by informing learners they will be discussing the systems that are used to maintain current standards of living. Learners are asked to list systems they use. A beginning suggestion by the teacher may help learners identify these sys...
- (b) Developmental activities
- 1. After the list of infrastructure systems is created, learners are asked to individually prioritize these systems on paper, providing a brief rationale for their ordering. Teacher then places learners into small groups for comparison. Small groups ...
- 2. Upon completion and comparison of priority lists, groups are asked to remove one system and explain their rationale for removal. Learners are then asked to describe how the current standard of living might change as a result of removal of a system...
- (c) Closing activities
- 1. Teacher asks learners to explain how lack of access to different systems may affect standard of living. Teacher then asks learners to explain how removal of one system may affect others.
- (d) Summary and assessment:
- 1. Inform learners they are to keep track for two days of their use of the infrastructure systems identified at the beginning of the lesson. Learners create a chart with systems and mark the number of times they used each system over the 48-hour peri...
- 2. Upon completion of chart, learners are asked to describe their experiences with this analysis and explain how the systems might be interrelated.
- References
- Figure 2. 1. Nineteen point four percent (19.4%) of homes in Mangaung Local Municipality are described as
- "informal dwellings" (Statistics South Africa, 2007, p. 64).
- Table 2.1. Four EMS Learning Outcomes
- Table 2.1. Continues
- CHAPTER 3
- Conceptualizing Financial Morality
- Thomas A. Lucey
- Financial Literacy and Financial Morality
- In Relationship to Financial Literacy
- Classism and Financial Morality
- Thick and Thin Views
- Conclusion
- Discussion Questions
- 1. What may be the historic origins for the concept of financial morality?
- 2. To what extent do you agree with the author's conception of financial morality? Discuss the premises of your claims. How are they similar or different from the author's premises?
- 3. To what extent do you view yourself as being financially literate (in a conventional sense) or financially moral? To what extent might it be possible to possess elements of both concepts? Use examples and readings to support your position.
- 4. The chapter explains the antithetical relationship between financial morality and classism. How would you describe the relationship of classism to conventional financial literacy?
- 5. What might be done to improve financial morality within the global community? To what extent is financial morality a concept that should be taught in schools?
- Model Lesson
- Money and Responsibility1
- (a) To be responsible with one's money and someone else's money
- (b) To behave morally or ethically with one's money.
- (a) Opening Activities:
- 1. Define and show real money, coins, checks, and credit cards. Discuss how to use them, where/when/how to save money, and how to keep track of spending. Then, as a class, read the book, Neale Godfrey's (1995) A Money Adventure: Earning, Saving, Sp...
- (b) Developmental Activities:
- 2. Give students a list of items that they would need to pay and budget their money for (such as food, gas, cell phone use) and other things that they would need to keep a daily record of (such as lunch, drinks, etc.) Give them a set amount of money ...
- 3. Discuss with students their responsibility for paying money back and paying bills on time and thinking about how other people are affected by their spending. What are the working conditions that prompted the creation of these products? What are th...
- (c) Closing Activities:
- 1. Facilitate students' play of "store" and "bank" with a cash register, play money, and checks. Provide for transactions that have simple dollar amounts (no decimals).
- 2. Require students to maintain ledgers that track the amounts of money that they possess and make smile or frown faces as they proceed through the activity.
- 3. Require all students to participate in the store and bank's community. Observe how patterns of financial decisions relate to the various students.
- 4. Monopoly would be another great game to play that involves money skills. Alter some of the board locations and create Chance cards to provide consequences for businesses that disrespect the community.
- (d) Summary and Assessment:
- 1. While the students are playing "store" and "bank," check to see whether they are using all forms of money payment correctly and whether they are indeed purchasing items and making payments to pay bills, etc.
- 2. Debrief the students about their feelings during the experiences. Identify key points during the activity, and encourage students to refer to their ledgers and notes. Ask the students how they feel when others treat them fairly. How do they feel w...
- note
- References
- CHAPTER 4
- Young Canadian Women's Financial Literacy
- Vicki A. Green
- Canadians Save Too Little
- Canadians Weak in Financial Information
- Canadian Women's Financial Background
- Canadian Women and Financial Literacy Programs
- Canadian Children and Youth and Financial Education
- Canadian Teacher Education and Financial Literacy
- 1. Credit Unions, which set up banking services in local schools and have adapted curricula developed in the United States for use in the Canadian context.
- 2. Volunteers from financial services industries, who share their time and energy to teach important financial literacy concepts to students across Canada.
- 3. The Canadian Federation for Economic Education has online programs available.
- 4. Government agencies have available curricula on-line.
- 5. Provincial security regulators have made available education materials for teachers and students.
- Canadian Women and Financial Realities: The Smart Cookies
- Discussion Questions
- 1. Is it reasonable for women to continue to accept different levels of pay compared to men? Why or why not?
- 2. How can women achieve greater financial knowledge in an industry dominated by men?
- 3. When should children learn about money? How should money be introduced to them?
- 4. What advice would you give to persons in debt who are living beyond their means?
- 5. What is the most important attribute of financial competency demonstrated by The Smart Cookies? Defend your choice.
- Model Lesson
- Imagine, Draw, or Cut Out Possible Purchases
- (a) To create a spending plan or develop a saving plan.
- (b) To postpone instant gratification.
- (a) Opening Activities
- 1. Ask students about recent purchases and whether they were or were not previously planned. (Have you ever bought something you later regretted? Do you spend your money without thinking about alternatives or consequences?) Write examples from studen...
- 2. Ask students what might have helped them reconsider the purchases prior to buying them.
- 3. Explain to students that they will create collages of possible purchases from magazines, drawings, and catalogues.
- 4. Define "possible."
- (b) Developmental Activities
- 1. Explain to students that they are to imagine three to four goods/ services they would like to buy. Ask for examples.
- 2. Hand out magazines, catalogues, drawing paper, and colored pencils.
- 3. Ask students to create collages of their possible purchases. Discuss (a) why it might not be wise to buy items on impulse or to buy everything you want/need at once and (b) the criteria one might use in making decisions about what to buy now and w...
- 4. Help students develop a realistic timeline for their future possible purchases.
- 5. Place students' collages and timelines around the room to remind them of possible purchases and the desirability of prioritizing their wants/needs, reconsidering possible purchases, and postponing some possible purchases to a later date.
- (c) Closing Activities
- 1. Ask students to explain their first possible purchase and a potential timeline for their future purchases.
- 2. As students purchase items from their collages over time, ask them to check off the drawings or pictures of these items on their collages.
- (d) Summary/Assessment
- References
- CHAPTER 5
- Understanding African American Wealth Attainment
- Implications for Leaders
- Andrea N. Johnson
- Literature
- Wealth Attainment and African Americans
- Familial Factors and Wealth Attainment
- Religion and Wealth Attainment
- The Media and Beliefs About Poverty and Wealth
- Educational Institutions and Wealth Attainment
- Methodology
- Participants
- Procedure and Analysis
- Logistic Regression Analyses
- Predictors of Wealth Attainment
- Qualitative Analysis
- Wealth Associations and Sources of Perceptions and Beliefs
- Pathways to Wealth Attainment
- Barriers to Wealth Attainment
- Lessons Taught
- Responsibility in Building Wealth
- Opportunities to Build Wealth
- Discussion
- Families Are the Predominant Sources of Information for Financial Learning
- Religion Shapes Perceptions of Wealth
- The Media as a Pathway to Conspicuous Consumption
- Educational Attainment as a Barrier to Wealth Attainment
- Implications for Educators
- Limitations of Research
- Recommendations for Future Research
- Discussion Questions
- 1. When you hear the word wealth, what is the first thing that comes to mind?
- 2. What has your family taught you about wealth?
- 3. Does your parent/guardian have a budget? If so, how does s/he use it?
- 4. Have any of your classes in school taught you about money? What have they taught you?
- 5. Do you feel that receiving an education will allow you to make more money?
- 6. Why/why not?
- 7. If you practice a religion, has it influenced your beliefs about money and wealth? If so, how?
- Model Lesson
- Money Management
- Suggested Grade Levels: 7th -12th Grades
- (a) Students will be able to identify expenses within their respective homes.
- (b) Students will be able to distinguish between fixed and variable expenses within their respective homes.
- (c) Students will be able to develop a personal budget.
- (a) Opening Activities.
- 1. Go over the sample budget with students. Discuss how budgets are used to help people manage their money as well as negative consequences that occur from not budgeting. Ask students if they know anyone that uses a budget. Also ask if they have ever...
- 2. Discuss the two types of expenses: fixed and variable. Ask students to think of examples of fixed and variable expenses they may have at home. Explain that salaries also play an important part in how one budgets.
- 3. Share with the students that the amount of one's salary will not be one's actual take home pay. Review a sample pay check stub with students in order to illustrate this point as well as to introduce them to concepts such as gross pay and net p...
- 4. Ask students if each has a bank account. Discuss with students what should be done if one's expenses exceed one's income. Ask them what types of things influence their spending. Are they influenced by what they see on television, or read in ma...
- (b) Developmental Activities
- 1. Explain to students that they will create their own budget using the sample budget as a guide.
- 2. Have students select a job that interests them. Recreate the salary sheet by leaving off the salaries so that students choose a job that actually interests them regardless of whether the salary is high or low.
- 3. Provide the full salary sheet with the salaries no longer hidden. Once students have the salary from their chosen occupation, they calculate their take home pay by using the interactive exercise at http://www.themint.org. (If computers are not ava...
- (c) Closing Activities
- 1. Instruct students to reflect on what they have learned. Encourage responses by asking how they felt about taxes and other deductions that were taken out of their check.
- (d) Summary and Assessment
- 1. The assessment of what students have learned should be an ongoing process. Teachers should incorporate budgeting activities into their lessons on a regular basis.
- 2. One possible activity is to assign various amounts of money to students, followed by a blank monthly budget sheet. Students create a plan for how the money will be used based on the amount of money that they were given. This reinforces the importa...
- 3. Facilitate a follow-up discussion about what students see in the media regarding money and wealth. Give students an opportunity to reflect on what they have learned. For example, if students are interested in music videos, the teacher can point ou...
- 4. Invite guest speakers from local banks, as well as other institutions in the community, to discuss the importance of financial literacy. Students need opportunities to combine the practical skills learned with new perceptions of what wealth actual...
- References
- Table 5.1. Descriptive Statistics for Survey and Focus Groups
- Table 5.2. Logistic Regression Analysis for Property (Land)
- CHAPTER 6
- Comparing Undergraduate and Graduate Students' Perceptions of Financial Morality
- Alan B. Bates and Thomas A. Lucey
- Methodology
- Participants
- Procedure
- Focus Group Questions
- Data Analysis
- Findings
- What is Financial Morality?
- What Examples Of Financial Morality Have You Witnessed or Experienced?
- How is Financial Morality Similar to or Different From Conventional Morality?
- What Would It Be Like If Your Future Professional Environment Was Financially Moral?
- To What Extent, Should Financial Morality Be Addressed Within Your University Course Work?
- Discussion
- Two Continua
- Information Sources
- Limitations
- Conclusions
- Discussion Questions
- 1. To what extent may financial decisions involve moral elements? Why do people not realize there is more to financial morality than just being responsible with money?
- 2. If teachers and other professionals were to consider the origins of certain products they use, where they were made, the conditions under which they were made, and so on, would they stop using or buying these items, thus living in accordance with ...
- 3. Why may people automatically put "financial morality" and the word "business" together?
- 4. If students struggle with abstract concepts (such as financial morality), are they less likely to become financially moral? How does one effectively teach that concept?
- 5. Would students become more frugal, thrifty, and more economically sound if they were taught financial morality at a young age? Why/why not?
- Model Lesson
- Needs vs. Wants: "Considering the Moral Angles"1
- Suggested Grade Level: Adaptable for Grades K-12
- (a) The student will distinguish between a "need" and a "want" by classifying different items into each category.
- (b) The student will recognize both individual and community "needs" and "wants" exist.
- (c) The student will explain the difference between a need and a want by presenting his/her own needs vs. wants chart to classmates.
- (d) The student will categorize his needs and wants from a community perspective.
- (e) The student will write sentences of paragraphs about why it is important to save money for community's benefit.
- (a) Opening Activities
- 1. To introduce the lesson, the teacher discusses the lesson's key economic terms (e.g., needs and wants
- vocabulary may differ depending on age level of students). The students predict what those terms mean in relation to personal finance. The tea...
- 2. The teacher will then explain that individuals may make decisions that may harm or hurt others and that communities work together to ensure the benefits of all members. He or she may use the example of formation of class rules at the beginning of ...
- (b) Developmental Activities
- 1. The students are handed the different pictures of the house, cloud, and the various pictures of needs and wants. The students sort/classify each picture in their set of pictures into one of the two categories. After a few minutes, the students may...
- 2. The teacher gives a 10 minute warning for students to finish classifying the pictures/words and begin writing short summary sentences or a fully-developed paragraph. The sentences or paragraph should include the students' personal definitions of...
- (c) Concluding Activities:
- 1. To finish the lesson, the class members share their sentences or paragraph
- the teacher may make a chart of individual needs and wants on the Smart Board or black board and another chart of mutually agreed upon needs and wants. Students can examin...
- 2. The teacher should inquire about the different ways that the children earn/receive money and the influences on their spending and saving decisions. (Discuss allowances, personal budgets, etc.)
- 3. The teacher assigns a research project in which students seek news reports about various outlets for consumer goods (e.g., Target, Walmart, Gordmans, Kruger, or Walgreens). How may the findings of their research affect their decisions of whether o...
- 4. The teacher facilitates the lesson activity described in Lucey and Grant (2010) that relates corporate polluters to the income levels of neighboring populations. What are the conditions that prompt people to live in these areas? Where might these ...
- 5. The teacher begins a classroom conversation about how often students examine the manufacturing conditions that produce commonly purchased consumer goods. Given what we know about the settings related to product manufacturing and consumer use how m...
- (d) Summary and Assessment:
- 1. A teacher could assess this assignment in multiple ways. One way is to create anecdotal records
- as the children are discussing the needs and wants with one another, the teacher may monitor and make various notes about the concepts discussed and t...
- 2. The teacher may also develop checklists that (1) document whether students can correctly determine food, shelter, clothing, and emotional needs and wants (2) disclose more sophisticated items.
- 3. Another way is to create a rubric that would be distributed to students at the beginning of the activity. The students would be assessed based upon their performance during the activity and the form and content of their sentences/paragraph. A samp...
- Note
- 1. Lesson developed by Rachel Kinkelar.
- References
- Figure 6. 1. Conventional view of financial literacy.
- Figure 6. 3. Financial moral obligations.
- Figure 6. 2. Socially just/moral view of financial literacy.
- CHAPTER 7
- Moral Responsibility and Leadership
- How Managers Deal With Practical Moral Conflicts
- Jennifer Loew
- Managers' Moral Decision Making: Some Past Empirical Findings
- Implications for the Adopted Research Approach
- From Moral Judgment to Moral Action- Kohlberg's and Candee's View
- The Moral of the Story: An Example
- Conclusion
- Discussion Questions
- 1. What are several reasons for the increased ethical sensitivity in our society mentioned at the beginning of this chapter?
- 2. Why are managers especially challenged in fulfilling their ethical responsibilities?
- 3. How can managers be sensitized to questions of responsibility when dealing with every-day moral conflicts?
- 4. How do Kohlberg and Candee (1984) describe the relationship of moral judgment to moral action? What role do responsibility judgments play in their view?
- 5. Why is "responsibility," in the eyes of many philosophers, an adequate ethical principle? Would you agree? What do you think may be some other ethical principles?
- Moral Responsibility in Economically Relevant Situations
- Grade Level: 12
- (a) Students will be able to generate their own imaginations of responsibility and compare them to scientific constructions of responsibility. Students will be able to develop a critical concept of responsibility that is based on different perspectiv...
- (b) Students will be able to develop a concept of morally responsible financial decision-making and identify financially/economically relevant situations that imply moral questions.
- (c) Students will be able to analyze identified situations with regard to questions of morality and responsibility.
- (d) Students will be able to (a) discuss, analyze and evaluate a moral conflict, especially concerning questions of responsibility
- (b) identify multiple perspectives and multiple possible courses of action
- and (c) list pro and contra arguments for ...
- (a) a. Opening activities:
- 1. The teacher introduces the lesson's issue (moral responsibility in economically relevant situations) and explains its relevance in the context of financial education (see lesson objectives).
- 2. The teacher asks the following question for open discussion: What does "responsibility" generally mean to you? Teacher collects students' ideas on flipcharts or on the board.
- (b) b. Developmental activities
- 1. Students read selected text excerpts (see lesson materials) and identify the relevant core statements. Teacher collects students' statements on flipcharts or on the board.
- 2. Teacher leads an open discussion on the following questions: Are there differences between your subjective view of responsibility and the one described in the text? If so, what are these differences? Teacher places the two flipcharts on the subjec...
- 3. The teacher asks the following questions: What does this mean for financial decision making? What constitutes responsible financial decision making? Teacher collects students' ideas on flipcharts or on the board
- students reach consensus on a jo...
- 4. The teacher continues open discussion with the following question: In general, What financially/economically relevant situations/dilemmas can you think of that involve moral questions? Teacher collects and records students' exemplary situations/...
- 5. Teacher chooses, with student assistance, two or three of the generated situations and has the class discuss them with respect to responsibility
- for example, s/he may ask to designate central questions of responsibility in each situation/dilemma ...
- 6. The procedure for dilemma discussions is developed based on the proposed articulation scheme from Retzmann (2007):
- (c) Closing activities
- 1. The teacher and class jointly evaluate the dilemma discussion using the following questions: What went well in our discussion and why? What difficulties or challenges did we encounter? What could be done to avoid these problems in the next dilemma...
- 1. For formative assessment, the teacher asks students repeatedly during the lesson to reflect about their learning processes.
- 2. For summative assessment (nongraded), the teacher asks each student to identify the central insight s/he has gained from the lesson.
- 3. For summative assessment (graded), each student write an essay about "Moral Challenges in Financial Decisions" or a report about a selected moral conflict in which s/he develops pro and contra arguments.
- Exemplary Dilemma: "Ms. Menge" (following Oser, 2001, pp. 79-81
- author's own translation)
- Notes
- References
- Figure 7. 1. Influences on moral actions.
- CHAPTER 8
- Intersections of Identity and Ideology in Learning about Financial Capability
- Valerie Farnsworth
- The Financial Capability Research Project
- Analysis of Financial Capability Discourses
- Financial Capability as Rational, not Emotional
- Financial Capability as Private Not Public
- A Look at Learning: Myths and Contradictions
- Discussion
- Conclusion
- Discussion Questions
- 1. How are your personal financial choices influenced by public Discourses on finance?
- 2. What are some financial decisions that are simultaneously rational and emotional? Private and public?
- 3. What is lost or not accounted for in a definition of financial capability that is confined to rational decision making of individuals?
- 4. How do individual choices influence wider financial practices and Discourses? What are some examples?
- 5. What are some other ways to conceive of financial capability that do not rely on dichotomous thinking? How might financial capability be defined in ways that account for the personal, public, cultural, moral and emotional aspects of financial prac...
- Model Lesson
- Financial Practice Beyond the Individual
- Suggested Grade Levels: 9th-12th Grades
- 1. To develop students' thinking about issues of public responsibility in private decision making.
- 2. To illustrate the various ways individual choices are influenced by public Discourses and advice/choices of others.
- 3. To foster critical readings of financial product offers and advertisements.
- (a) Opening Activities:
- 1. Presented and explain a range of financial products, such as types of loans, savings, and investment schemes.
- 2. Present pros and cons of each scheme (approximately six different products) using a table format, as described with respect to Handout 1 in the Materials section above.
- 3. The life of each "product" should be noted (e.g., whether it was available for a short or long time and if it is still available). The aim is to be able to pose the following questions to students for discussion and to prompt thinking with reg...
- (b) Developmental Activities:
- 1. Read through the written case study provided on Handout 2.
- 2. Ask students to map out two possible scenarios for the life of the product given one initial event in which Jane tells her friends about the new product she bought and how good it is. Further elaboration may be needed to explain that these friends...
- (c) Closing Activities:
- 1. Conduct a whole class discussion in which the students brainstorm together all the different ways that people make decisions. This should bring up a range of factors and influences, including the advice of friends. These ideas should be written on...
- 2. If ideas are stilted, another activity may be used in which groups of 4-6 students are given brochures from banks about different products, such as savings accounts, loans, and bonds. Students then role play by imagining themselves in a position t...
- 3. Note-takers from each group report back on the issues their respective groups discussed to add to the list of factors and influences that inform decision-making about product purchase. Depending on the number of groups, the reporting back activity...
- (d) Summary and Assessment:
- Note
- References
- Section 2
- educational issues
- CHAPTER 9
- A Sense of Values
- Developing Financial Capability in Scottish School Curricula
- Cathy Fagan
- The Scottish Education Context
- A New Curriculum
- Developments in Financial Education
- Examples of Values Contexts for Financial Education
- Discussion Questions
- 1. The author explains that Scotland provides its teachers with instructional resources, but does not impose pedagogical methods or styles. What are the possible benefits of this amount of professional autonomy for teachers? What are the disadvantages?
- 2. The author uses some examples from the historical and philosophical development of education in Scotland to explain aspects of the current system. What are the principles upon which the system is founded? How does your own background shape your vi...
- 3. "Value" is a term that appears throughout the chapter and the Scottish curriculum claims to be values-based. Why is it important to consider the value systems that underpin curricula?
- 4. The author mentions the phrase "a sense of values" when referring to familiarity with the worth of the money and assets needed in financial transactions. There is also mention of values in human relationships. Are these the same values? Is the...
- 5. The four curricular capacities of the new Scottish curriculum are the development of: successful learners
- confident individuals
- responsible citizens
- and effective contributors. To what extent are these complete or reasonable aims for education?...
- 6. The Scottish system makes minimal use of performance-based tests, checklists, and other technical assessment tools. Instead there is an emphasis on formative assessment that supports and informs learning with some summative assessment used against...
- Model Lesson
- Economies and the Common Good4
- Suggested Grade Level: 9th Grade
- (a) The student will define "economy."
- (b) The student will define the "common good."
- (c) The student will define different kinds of economies.
- (d) The student will compare and contrast how different economies address the "common good."
- (e) The student will describe the underlying values of each type of economy.
- (f) The student will take a value position and support it through logic and evidence.
- (g) The student will listen to other positions and be able to critically interpret them.
- (h) The student will demonstrate a critical understanding and tolerance of values within different types of economies in a short essay.
- (a) Opening Activities
- 1. Give each student four post-it notes, two of one color and two of another (e.g., two red and two blue) and a marker.
- 2. Invite students to write down an idea that comes to mind when they hear the term "economy" on each of the post-it notes of one color.
- 3. When the students finish writing down their ideas, have them display these ideas on the chalkboard/whiteboard. Sample terms include: profit, resource, trade, good, service, oil, unemployment, government control)
- 4. Once everyone has posted their ideas, facilitate students' categorization of ideas. Ask students to group ideas that seem to go together and to come up with a verbal label for each group.
- 5. Then shuffle the post-it notes and invite students to organize the ideas using different categories than used previously.
- 6. Repeat these steps with the post-it notes of the second color, but this time ask the students to develop ideas about the term "common good."
- 7. Once the students have done this, the teacher provides formal definitions of "economy," the different types of economies, and "common" good" and leads discussion that compares these definitions with how students construed an economy and ...
- (b) Developmental Activities
- 1. Organize the class into four groups, each representing a different type of economy:
- 2. Provide each group with an opportunity to research and discuss the traits, strengths and weaknesses of its type. As part of their research, they should consider the following topics
- 3. To demonstrate the outcomes of its research, each group will develop and perform a skit. The skit should use one of the following prompts, should include each group member, and should address each of the six points listed above.
- 4. Provide note-taking sheets that guide observers through the aforementioned six research requirements to document characteristics of each presented economy,
- 5. Facilitate a whole-class conversation about the economies depicted in the four skits, asking the following questions.
- (c) Closing Activities
- 1. Using the four skit groups described above, instruct the members of each group to discuss among themselves (a) the values reflected in their assigned economy and (b) the positives and negatives of their assigned economy. The members of each group ...
- 2. The following questions may be used by the teacher, as moderator of the panel discussion, to prompt conversation during the panel discussion.
- (d) Summary and Assessment
- 1. After the lesson, the students write a 1-2 page essay that describes their feelings about the four economies and the values that are inherent within them. Each student should also make a judgment about what economy s/he would like to be a part of....
- 2. The teacher will grade this essay based on accuracy of information and on students' understanding and tolerance of the different viewpoints and values reflected within different economic systems.
- Notes
- References
- CHAPTER 10
- The Efficacy of Financial Education in the Early Grades
- Results From a Statewide Program
- Weiwei Chen and Julia A. Heath
- Previous Research
- Program Background
- MultiYear Assessment Results
- Determinants of Financial Education Efficacy
- Data and Methodology
- Results
- Conclusions
- Discussion Questions
- 1. How might your experience with financial education in school relate to this study's findings?
- 2. How do various ways that teachers present information relate to your learning of content? What, if anything, does your response suggest about how teachers should teach personal finance?
- 3. The study interpreted results of a program implemented in one state. How might the results be fairly compared to findings from similar programs in other states?
- 4. By yourself, make a list of some reasons why the percentage of economically disadvantaged students in the school is positively associated with student gains in financial knowledge. Use your list and others to develop a class list of reasons. Now, ...
- 5. Why might students gain less from financial education instruction in a school that earns higher mathematics scores?
- Model Lesson
- Credit Is Based on Trust
- (Reprinted With Permission From Council for Economic Education)
- Suggested Grade Levels: 3rd-5th Grades
- (a) Define borrower, lender, credit, trust, and trustworthiness/creditworthiness.
- (b) Generalize that borrowing and lending are based on trust between the lender and the borrower.
- (c) Identify the personal qualities that build trust and creditworthiness.
- (a) Opening Activities:
- 1. Tell the students that they are ready to being learning a little about lending and borrowing. Refer them to Exercise 1-Jungle Puzzle. Go over the instructions with the students. Have them solve the word puzzles.
- 2. When the students are finished, allow them to share their answers (1. Rely
- 2. Thinks
- 3. Sincere
- 4. True
- 5. Upright
- 6. Trust). Write the final word, "TRUST" on the board. Discuss the following questions and write the highlighted words on t...
- 3. Explain that the words under "TRUST" are characteristics that a "trustworthy" person would have.
- (b) Developmental Activities:
- 1. Ask the students if they have ever lent a friend or family member something. (Answers will vary). Explain that lenders allow people to use money or goods for some period of time. Lenders expect to be repaid.
- 2. Ask the students if they have ever borrowed money or something from a friend or family member. (Answers will vary). Explain that borrowers use someone else's money or things for some period of time.
- 3. Read the following short story about a lender and a borrower to the class.
- 4. Debrief with the following questions.
- 5. Explain that when people lend to other people they are giving credit. Usually credit involves lending money, most often for a fee. The money and the fee must be repaid at a future time.
- 6. Point out that Royce gave Rhonda credit. He lent Rhonda money (in this case, without a fee), and he expected Rhonda to pay him back.
- 7. Explain that there is an important connection between trust and credit. If you trust someone, you are more willing to give him or her credit. If someone trusts you, he or she is more willing to give you credit.
- 8. Ask the students whether they would be willing to give Rhonda credit in the future if they were Royce. (Probably not.) Why? (They couldn't trust her to repay.)
- (c) Closing Activities
- 1. Debrief students about the learning by asking the following questions.
- (d) Summary and Assessment
- 1. Read the following scenario:
- 2. Write a letter to Angela explaining why you aren't willing to lend her money this time. You must use the following terms correctly in your letter: creditworthy, reliable, sincere, and trust. Be sure that you explain what these terms mean so Ange...
- 1. You can count on this person to do what he says he will do. You can _______on this person.
- 2. This person is very careful. This person ____________ twice about choices.
- 3. This person means what she says. This person is _________________.
- 4. This person is a real friend. This person is a ________________________ friend.
- 5. This person would not lie or steal. This person is ___________________.
- 6. This person will not tell your secret to another person. This is a person you can __________.
- References
- Table 10.1. Smart Tennessee Pre- and Postassessment Results
- Table 10.2. Means and Descriptions of Variables (Standard Deviations in Parentheses)
- Table 10.3. Comparison of Number of Correct Answers on Pretest and Posttest for Treatment and Control Groups
- Table 10.4. OLS Results-Dep. Var. Difperc
- CHAPTER 11
- Using Technology to Develop a Broad Understanding of Financial Literacy among K-12 Students
- Jeffrey J. Sanson and Phillip J. VanFossen
- Economic Literacy and Financial Literacy
- Instructional Technology
- Rationale for Technology Integration
- Literature
- Potential of Technology
- Personal Accounts
- Evidence of Impact on Learning
- Overview of Technology Integration in Financial and Economic Education
- Motivation
- Enhancing Instruction
- Increase Student and Teacher Productivity
- Learn and Sharpen Information Age Skills
- Future Opportunities
- Implications for Practice
- Conclusion
- Discussion Questions
- 1. Consider your own experience with how you have learned about personal finance. What gaps may exist between modern realities of financial management and decision making and how the content is being taught today?
- 2. What barriers to technology integration do you perceive in financial education? How would you classify them: pedagogical knowledge, content knowledge, and/or technology knowledge?
- 3. Consider the advantages and disadvantages to integrating a program like the Stock Market Game in terms of content, instructional strategy, student motivation, and class time. What implementation strategies can be employed to mitigate concerns?
- 4. What instructional planning strategies can be used to adapt to the next generation of instructional technologies?
- 5. What security or privacy issues should be considered prior to the teaching of a technology-enhanced financial literacy unit or lesson? How may instructors present guidelines for students regarding how they deal with sensitive personal and family f...
- Model Lesson
- Apps-o-nomics
- Suggested Grade Levels: 6-12
- (a) Students will identify ways that an app can be helpful in making financial decisions.
- (b) Students will use a mobile device to locate and evaluate a financial education app.
- (c) Students will use a mobile device to locate and evaluate a financial news app.
- (d) Students will develop criteria that a consumer should use when considering the purchase of a mobile app.
- (e) Students will identify and locate apps that may be used by a consumer to improve their financial decision making.
- (f) Students will compare the features and benefits apps including such as cost, accessibility, and privacy.
- 1. Ask students how many of them have a cell phone or mobile computing device, such as a laptop, tablet or netbook, or a multimedia portable device (e.g., an iPod Touch).
- 2. Ask students what percent of people in the United States own cell devices, or mobile devices, or use cell and mobile devices to connect to the Internet.
- 3. Ask students to explain what an "App" is for a mobile device, such as an iPod, iPhone, or other smartphone device.
- 4. Ask students what types of apps are available.
- 5. Ask students to identify criteria they use when deciding what app to purchase or download.
- 6. Ask students to identify sources of information to learn about apps.
- 7. Ask students to explain the pros and cons of these sources of information.
- 8. Ask students to brainstorm what types of apps might help a person when s/he is making personal financial decisions.
- 9. The next section involved locating and evaluating apps based on the criteria established earlier. The procedures below are listed based on the availability of computers or devices.
- 10. Procedure for activity with student device:
- 11. Modification of procedure for activity with only a teacher device available:
- 12. Procedure for activity with no device, but computer access:
- 13. Assessment
- References
- Table 11.1. Select Examples of Technology Tools for Teaching and Learning Personal Finance
- CHAPTER 12
- Mapping Financial Futures and Developing Social Capital
- Decision-Making About Career, Specialization, and Interest Rates
- Mary Frances Agnello and Andrea L. Knapp
- Curriculum Standards
- Research on Teacher Knowledge
- Teacher Preparation
- Modeling for Teacher Preparation
- Social Capital as Financial Literacy
- Defining Social Capital
- Developing Social Capital
- Conclusion
- Discussion Questions
- 1. Explain why you agree or disagree with the following statement: It is critical to teach financial literacy in several subject areas in the curriculum.
- 2. Discuss which standard referenced in this chapter you think is most essential to (a) teaching financial literacy and (b) understanding financial literacy. If you choose the same standard for each part of this question, discuss why. If you choose a...
- 3. Why do you think financial literacy is not part of the secondary economics curriculum?
- 4. What kinds of social currency are possessed by your family and by the students in your neighborhood school?
- 5. How do the concepts of financial literacy and social currency overlap? What kinds of basic skills and understandings support learning in both areas?
- Model Lesson
- What Do I Want to Be When I Grow Up (and How Do I Plan to Get There?)
- Suggested Grade Levels: 10, 11, 12
- (a) Students will consider the costs of their decisions as well as what kinds of opportunities they might seek
- (a) Opening Activities
- 1. Open the lesson with the following discussion question: How can you best prepare yourself for your future? Play the song(s).
- 2. To support the discussion question, have students consult the following website: http://www2.ed.gov/print/students/prep/college/ consumerinfo/questions.html
- 3. Discuss: How will you determine what is necessary for you to prepare for your future career or profession?
- 4. Discuss: What resources are necessary to attend a university or some other path to career preparation?
- 5. Discuss: How will you obtain these resources?
- 6. Discuss: What impact will your social networks (such as family, friends, neighborhood, etc.) have on your ability to prepare for your future?
- 7. Discuss: Based on what it will cost to attain your goals, what kind of benefits will you have?
- (b) Developmental Activities
- 1. Teacher pre- and postinterest and activity surveys can measure student development. Students and teachers brainstorm and discuss the following ideas and concepts. Pre- and post-activity questionnaires will be administered by the teacher to the stu...
- (c) Closing Activities
- 1. Students work individually or in groups.
- (d) Summary and Assessment
- 1. Consider the following two scenarios and discuss how financial literacy and social currency factor into each student's planning.
- 2. Pose the following discussion question: What are the important steps to take or factors to consider when planning for a career and/or profession?
- 3. Instruct students to design a checklist of things to do and/or think about as they plan a career/profession. Then individual students can evaluate themselves using the checklist-checking things they have already done and/or thought about.
- 4. Pose the following discussion question: What kinds of social capital (social, familial, neighborhood networks) do you have that do not have a monetary value but which is still very valuable?
- 5. Instruct individual students to create a summary table and/or creative poster that reveal community, family, and student assets.
- References
- Figure 12. 1. Relationships among responsibility, decision-making, and career standards.
- CHAPTER 13
- Using Art and Community Investigation to Motivate PreService Teachers' Learning and Teaching of Social and Economic/ Financial Justice Issues
- Thomas A. Lucey and James D. Laney
- Statement of the Problem
- Literature
- Preparation Issues
- The Role of Art in Teaching for Social Justice
- Service Learning
- Research Questions
- Methodology
- Sample
- Instrument
- Procedure
- Analysis
- Results
- Confidence and Dispositions
- Effectiveness of Art and Responsibility for Teaching About Social Justice
- Discussion
- Conclusion
- Discussion Questions
- 1. What emotions do you feel when you experience or create art/ music? How do these emotions relate to your perceived artistic/ musical ability? What art/music genre do you value? To what extent do your artistic/musical values relate to "common sen...
- 2. To what extent was community part of your teaching or learning? How was your relationship with community defined through these processes?
- 3. Consider the three citizen types described by Westheimer and Kahne (2004). What are some examples of how art might be used to foster each of the three citizen types that these researchers mention (i.e. responsible, participatory, and justice-orien...
- 4. What ideas, concepts, or issues within financial education lend themselves to visual and/or musical representation? What popular or well-known songs or visual works of art can you think of that could be used as content vehicles for teaching about ...
- 5. What is economic/financial justice? What economic/financial injustices exist within today's society? What traditional financial education topics relate to such injustices?
- Model Lesson
- Rich Man, Poor Man
- Suggested Grade Levels: Grades 4-8 (and above)
- (a) To consider reasons why some people are rich and others poor.
- (b) To differentiate between planned and market economies.
- (c) To recognize public transportation as a social and economic/financial justice issue.
- (d) To understand the rationale for governments to sometimes intervene and modify the what-to-produce and for-whom-to-produce decisions in a market economy.
- (e) To research/compute the impact of transportation costs on one's personal financial budget.
- (f) To realize citizens' right to devise and initiate action that counters unjust social conditions.
- (a) Opening Activities (based on ideas from Stevens & Fogel, 2009):
- 1. Teacher tells students that they are going to use their observational and inference-making skills to analyze a photograph.
- 2. Show the students Dorothea Lange's photograph entitled "Towards Los Angeles, California" (http://www.flickr.com/photos/ library_of_congress/3549663710). The photograph depicts two migrant works carrying suitcases and walking along a remote, ...
- 3. Ask students to make inferences about the photograph based on the following questions: (1) When and where was the photograph taken? (2) What are the people in the photograph doing? Why? (3) Why do you think the photograph was taken?
- 4. For the purpose of inquiry, ask students to list any unanswered questions they have about the photograph.
- 5. Provide students with background information (or ask students to research background information) about Dorothea Lange, her photographs, and the Great Depression/Dust Bowl era (using http://www.myhero.com/myhero.asp?hero=d_lange and other resources).
- 6. Ask students to compare the information provided/found with their original inferences about the photograph. Which inferences were supported/rejected?
- 7. Based on the information provided/found, ask students to answer the following questions: (1) Who was Dorothea Lange? (2) For whom was Dorothea Lange working? (3) What mood/message was Dorothea Lange trying to communicate in "Towards Los Angeles,...
- 8. Distribute the lyrics of Bob Miller's 1932 humorous protest song "The Rich Man and the Poor Man" (http://www.fokarchive.de/ rich.html
- Cohen & Samuelson (1996, p. 64).
- 9. Play Miller's song (http://www.rhapsody.com/bob-miller) as you show Dorothea Lange's "Towards Los Angeles, California." Ask students to compare the messages of the song and photograph. Is the song meant to be funning, serious, or both? Wha...
- (b) Developmental Activities
- 1. Lead a guided discussion using the following questions: (1) Why are some people rich and others poor? (2) Are all wealthy people smart and good? Are all poor people less intelligent and less deserving? If so, why? If not, why not? (3) How should t...
- 2. Provide students with information on alternative economic systems (i.e. a planned economy versus a market economy). Explain that in a market system those individuals who own resources that are most in demand will have the highest incomes. The econ...
- 3. Explain that in a planned economy scarce resources or productive means are held in common, with one planner or a group of planners making the economic decisions of what to produce, how to produce, and for whom to produce. Planner decisions can be ...
- 4. As Kourilsky (1996) suggests, have students role play a planned economy by pretending each class member owns an equal portion of the tissue paper in the classroom art supply cupboard. It is the opinion of one class member that the tissue paper sho...
- 5. Define the terms social justice and economic/financial justice for the students. Ask students how Dorothea Lange's "Towards Los Angeles, California" and Bob Miller's "The Rich Man and the Poor Man" relate to these concepts. Point out t...
- 6. Inform the students that in a market economy, as we have in this country, governments sometimes modify the what-to-produce and for-whom-to-produce decisions (Kourilsky, 1996)
- for example, a government may choose to provide convenient and affordab...
- (c) Closing Activities
- 1. Direct students to generate their own visual works of art and/or songs that have themes similar to Lange's "Towards Los Angeles, California" and Miller's "The Rich Man and the Poor Man." Ask students to select popular, modern-day songs...
- 2. Assign each student the task of interviewing at least one parent to find out how the parent gets to work, how much the transportation costs, and what the parent's monthly/yearly income is. Have the students calculate the transportation-to-work c...
- 3. Instruct students to research public transportation issues/problems in the local area. What are the types of public transportation that exist in your communities? To what extent is this situation related to social and/or economic/financial justice...
- 4. Have students devise and implement an appropriate social action project in response to an identified social issue/problem. During the developmental process, prompt students to envision responsible, participatory, or justice-oriented responses to t...
- (d) Summary and Assessment
- 1. Observe students' comments during guided, in-class discussions. Did the students grasp the concepts of what makes people rich versus what makes people poor, high-paying versus low- paying jobs, planned versus market economy, public transportatio...
- 2. Evaluate students' visual and/or musical works of art. Were students able to generate art products that reflected the concepts taught? Were students able to correctly describe, orally or in writing, the concepts behind their art products?
- 3. Evaluate students' research on transportation-to-work costs as a budgetary consideration. Were students able to correctly identify and calculate these costs and to describe the impact on the personal/family budget?
- 4. Debrief students on their social action efforts. Did their efforts have any noticeable, measureable impact? What evidence can students cite?
- References
- Figure 13. 1. Two different lives.
- Table 13.1. Mean Confidence Teaching Art, Inquiry and Social Justice and Mean Dispositions Towards Social Justice, Economic Justice, and Teaching Social Justice (1 = Strongly Agree
- 5 = Strongly Disagree)
- CHAPTER 14
- Home Interactions, in the Context of Learning about Numbers 1-100
- How Do Romanian Parents Teach Place Value to Their Children?
- Madalina Tanase
- Literature
- Using Manipulatives to Teach Counting
- Home Practices and the Impact on Student Learning About Numbers
- Frequency Versus Nature of the Interaction
- Methodology
- Participants
- Data Collection and Analysis
- Findings
- Parental Understanding of Numbers 0-100
- Help With Numbers 0-100
- Discussion and Conclusions
- Discussion Questions
- 1. What are your memories of how your parents taught you mathematics? What resources or tools were used? What was available? How did resource availability relate to your family's social and economic status?
- 2. Describe the patterns of interaction between your parents and your teachers with regard to your learning of mathematics. How might they relate to your confidence in understandings of the subject?
- 3. In what ways can parents (a) show their children they value their education, and (b) instill a love for learning?
- 4. To what extent may parents' attitudes about mathematics influence their children's attitudes about mathematics?
- 5. In what ways can teachers help their students' parents get more engaged in their children's learning, both at home and at school?
- Model Lesson
- Shopping at 99 Cent Stores
- Grade Levels: K-1st
- (a) Students will buy and sell goods of a value up to 99 cents
- (b) Students will compare amounts to prices and count on from prices to find change.
- 1. Use concrete, pictorial and verbal representations to develop an understanding of invented and conventional symbolic notations.
- 1. Develop understanding of the relative position and magnitude of whole numbers and ordinal and cardinal numbers and their connection.
- 2. Count with understanding and recognize "how many" in sets of objects.
- 3. Use multiple models to develop initial understanding of place value and the base -10 numbers.
- (a) Opening Activities
- 1. The teacher reviews the value of pennies, nickels, dimes, and their use for buying and selling goods and services. The teacher discusses how many pennies may be exchanged for a nickel and a dime and introduces another coin of greater value, the qu...
- (b) Developmental Activities
- 1. After discussing the use of money in buying objects/toys, the teacher reads the students a story that involves money, Bunny Money (Krensky & Bolam, 2011). In this story, four little bunnies want to buy a hat for their mother. The hat costs $1.00. ...
- 2. The teacher allows the students to practice buying and selling toys they can find in the 99 cent stores, while at the same time learning to give and receive correct change. Students will take turns buying and selling in the three little shops that...
- (c) Closing Activities
- 1. The teacher assigns students to small groups, and students further develop an inventory for their dream toy-shop with items of their choice. The students label the prices of the toys. The teacher and teacher helpers are there to guide the students...
- (d) Summary and Assessment
- 1. The students will be informally assessed, throughout the duration of the lesson, as they practice selling and buying goods. The teacher, teacher's aide, and/or parent volunteer will be tracking the following behaviors: Was salesperson able to pr...
- 2. Group activity: Nine-Item Inventory Sheet The students will be assessed formally as they design the inventory sheet in small groups (see sample provided by the teacher). The teacher will collect the 9-item inventory sheet from each group. The teac...
- 3. Follow-up Activity with Parental Assistance. At home, students and parents can practice by buying and selling the following merchandise and by using the worksheet described below to keep track of the change they need to receive. They can take turn...
- Nine-Item Inventory Sheet
- Note
- References
- Table 14.1. Participant Data
- About the authors
- Contributing Assistants
- Index
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