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Learning about money

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Age group

Students ages 6 and 7

When

May or October

Time required

3 hours and 30 minutesn

Broad areas of learning

Environmental Awareness and Consumer Rights and Responsibilities (QEP 2011)

Activity summary

Students will look at, touch and learn to identify Canadian coins and bills.

Financial and cooperative skills

  • Learn the value of Canadian coins and bills
  • Identify different types of Canadian money
  • Make a purchase

Competencies

Subject-specific competencies taught

Subject

Competency

Progressions of learning

Mathematics

Reasoning using math concepts and processes

  • Counts collections (using objects or drawings) (QEP 2011)
  • Uses objects, diagrams or equations to represent a situation and conversely, describes a situation represented by objects, diagrams or equations (QEP 2011)
  • Uses his/her own processes to determine the sum or difference of two natural numbers (QEP 2011)

Subject-specific competencies affected

Subject

Competency

English

To use language to communicate and learn (QEP 2011)

Cross-curricular competencies

  • Cooperates with others (QEP 2011)
  • Adopts effective work methods (QEP 2011)

Preparation

Students learn how to identify and recognize canadian coins and bills.

 

Time required

45 minutes

Task 1

Learning about canadian coins and bills

Task 1 objective

By the end of this task, students will be able to recognize and identify Canadian coins as well as $5, $10, and $20 bills.

Instructions

  • Ask students to bring Canadian coins
  • Ask them what they know about Canadian coins and bills.
  • Have the students look at and describe the coins and bills.
  • Ask students to handle the coins and bills and describe what the money feels like.
  • Use the Canada’s Coins and Bills sheet to tell students about each coin and bill.
  • Compare Canadian coins with coins from other countries.

 

Time required

15 to 30 minutes (optional task)

Task 2

Playing with coins and bank notes

Task 2 objective

By the end of this task, students will be able to recognize Canadian coins as well as $5, $10 and $20 bills

Instructions

  • Form teams of 2 students.
  • Ask students to sit back to back.
  • At the teacher’s signal, 1 of the 2 students chooses a coin or bill and gives hints to their partner to help them guess the denomination. When the student guesses correctly, the student chooses another coin or bill and their partner guesses again, until the time is up.
  • Once the time is up, the teacher gives the signal and the students change places.
  • Review what students learned during this task.

Developement

Students will learn to identify the different values of coins and bills and be able to calculate the value of an assortment of coins and bills.

 

Time required

45 minutes (including time for cutting)

Task 1

Distinguishing quantity and value

Task 1 objective

By the end of the task, students will be able to calculate the value of a money pile and distinguish the difference between value and quantity.

Instructions

  • Form 2 piles of coins for the class. Ask students to identify the pile with the most money.
  • Count the pile for the students and demonstrate that the larger pile (with more coins) isn’t necessarily the pile with the largest monetary value.
  • Discuss the definitions of the words value and quantity.
  • Hand out the Canada’s Coins and Bills sheet and have the students cut out the coins and bills.
  • Ask students to use the cut-outs to individually answer the following two questions:
    • How many coins and bills do you have? The team should have 38 coins and 6 bills.
    • What is the value of all the coins and bills? The team should have $79.

Evaluation

Students learn to calculate the value of coins and bills and make purchases under that amount.

 

Time required

60 minutes

Task 1

Bying items at the school store

Task 1 objective

By the end of this task, students will be able to identify, recognize, and calculate the value of coins and bills, and use that knowledge make a purchase in the school store.

Instructions

  • Hand out the At the Store! sheet to students
  • Ask students to perform the task
  • Go over it as a group and discuss the students’ ideas.