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PAGE 1
5GRADE
The Classroom Store
This lesson teaches students how to calculate money amounts and make change by conducting simulated purchases through a classroom store activity.
Subject Mathematics
Suggested Timing 40 minutes
Financial Literacy Objectives
At the end of this lesson, students will: • identifyformsofmoney;• conductsimulatedpurchasesforamountsupto$1,000.
Curriculum Expectations
Mathematics, Grades 1-8 (2005) Mathematics
Number Sense and Numeration• Readandwritemoneyamountsto$1000.• Solveproblemsthatarisefromreal-lifesituations.• Addandsubtractdecimalnumberstohundredths,includingmoneyamounts,usingconcretematerials.
• Useestimationwhensolvingproblemsinvolvingtheaddition,subtraction,multiplication,anddivisionofwholenumbers,tohelpjudgethereasonablenessofasolution.
Assessment Use:ObservationChecklist:ClassroomStore(AppendixA)Collect:ReceiptTemplatesfromsellers(AppendixC)
What You Need • Havestudentsbringtoclasspicturesoffiveitemsfrommagazinesorcataloguesthattheywanttosellduringtheclassroomstoreactivity(orteachercanprovidemagazinesandcataloguesforthispurpose).
• ObservationChecklist(AppendixA)• Chartpaper(cutintostrips)andmarkers• Blankstickerstouseaspricetags• Playmoney(AppendixB)Note-ifplaymoneyisnotavailable,studentscandrawthebillsandcoinstheywouldgiveaschangeonasmallpieceofpaper.
• Fivereceipttemplatesperstudent(AppendixC)
PAGE 2
GRADE 5The Classroom Store
Minds On Group WorkProvideastripofpaperandamarkertoeverystudent.
Organizestudentsintogroupsandaskthemtobrainstormdifferentretailstorestheyknowwhichsellproducts(asopposedtoservices).
Haveeachstudentuseamarkertorecordatleastonestorenameonthestripofpaper.
Collectthestripsofpaperand,withthestudents’help,sortstoresintocategories(grocery,clothing,toystores,etc.)bytapingpaperstripsundereachcategoryheading.
Askstudentsiftheyhaveevertriedtosellormarketitemstheyhaveowned,andencouragethemtoelaborateastohowandwheretheydidthis.(Answersmightincludegaragesales,lemonadestands,paperroutes,onlineauctionswithparents,etc.).
Askstudentstoexplainthedifferencebetweenabuyerandasellerandthendefinetheword“retailer”.
Havestudentscommentonanyissuesthatretailersmightneedtoconsiderastheyprepareitemsforsale(moneyforchange,qualityofproduct,pricing,ethicaladvertising).
Explaintostudentsthattodaytheywillbesettingupastorefrontandthateachpersonwillhaveachancetosellitemstotheirclassmatesusingplaymoney. Thelearninggoalsoftheactivityaretothinkabouttheprocessinvolvedinsellingsomethingtothepublicandtopracticemakingcorrectchange.
Action Activity: Classroom Store
Set Up:Arrangestudentsingroupsoffour,andhavethemsetuptheirdesksasastorefront/sellingarea.
Letthegroupsdecidehowtheywilldisplay,organize,andpromotetheitems(images)thattheyhavebroughttosell(e.g.encouragestudentstoposttheirimagesonthewallorposterboard,etc.).
Havestudentsinventastorenameandencouragegroupstocooperateinmakingasign,jingle,ormottotoadvertisetheirstoreanditsitems.
PAGE 3
GRADE 5The Classroom Store
Action (continued)
Instruction:Provideguidelinesforpricingitems,andmodelexamplesofhowtomakechangewithbillsandcoinsbyconductingseveraldemonstrationswiththeclass.Explaintheideaofa“float”andhowitisused.Defineandexplaintheterm“transaction”.
Intheirsmallgroups,havestudentsdiscussappropriatepricesfortheiritems.Studentsthenlabeltheirimagesofitemswithpricestickers.Encouragestudentstoselectpricesthatwillrequirethemtomakechange(forexample,$17.50).
Provideeachgroupwithafloatformakingchange.(Suggestion–giveeachgroupashoeboxinwhichtostoretheirfloat/playmoney).Remindthegrouptocounttheirfloatinadvanceofsellingandhavethemremembertheamountorrecorditontheirshoebox.
Recording Transactions:Dividetheclassintobuyersandsellers.Explainthatonehalfoftheclasswillselltheirproductsfirst,whiletheotherhalfwillwalkaroundtheroommakingpurchases.
Provideampleplaymoneytothebuyersandhandoutfivereceipttemplates(AppendixC)tothesellers.
Beforethestoresareopenforbusiness,modeltotheclasshowtorecordtransactionsonthereceipts(AppendixC).Besuretomakeitclearthateachsellermustproduceareceiptforeveryproductsold.
After15minutes,havebuyersandsellersswitchroles.
Consolidation/ Debrief
Helpgroupsaddupthemoneytheymadefromsellingtheiritemsandthenshowthemhowtosubtractthefloattoobtaintheirsalestotal.Havegroupssharetheirtotalswiththeclass.
Whole Class DiscussionAsaclass,havestudentsdiscusssomeofthechallengestheyencounteredwhensellingandmakingchangebyansweringthefollowingquestions:1. Whatwasthemostdifficultpartofmakingchange?2.Werethereanytricksyouusedtohelpyoucalculatethecorrectchange?3.Whatsellingtechniquesworkedbest?4.Whydoyouthinkitisimportantforretailerstokeeparecordoftheirtransactions?
PAGE 4
GRADE 5The Classroom Store
Observation Checklist: Classroom Store
Date:
Student Name Marketing Strategy
Appropriate Pricing
Actively Engaged in Selling and
Buying
Makes Correct Change
Able to add up money s/he has
made
A P P E N D I X A
PAGE 5
GRADE 5The Classroom Store
Play Money
A P P E N D I X B
#
1 ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1
ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1
ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1
ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1
ten cents
five cents
twenty-five
centstwo dollars
one cent
one dollar
10¢
25¢
5¢
$2
1¢
$1
onehundreddollars 100
100
100 100
100
fiftydollars 50
50 50
50 50
twentydollars 20
20 20
20 20
tendollars 10
10 10
10 10
fivedollars 5
5 5
5 5
onehundreddollars 100
100
100 100
100
fiftydollars 50
50 50
50 50
twentydollars 20
20 20
20 20
tendollars 10
10 10
10 10
fivedollars 5
5 5
5 5
onehundreddollars 100
100
100 100
100
fiftydollars 50
50 50
50 50
twentydollars 20
20 20
20 20
tendollars 10
10 10
10 10
fivedollars 5
5 5
5 5
onehundreddollars 100
100
100 100
100
fiftydollars 50
50 50
50 50
twentydollars 20
20 20
20 20
tendollars 10
10 10
10 10
fivedollars 5
5 5
5 5
onehundreddollars 100
100
100 100
100
fiftydollars 50
50 50
50 50
twentydollars 20
20 20
20 20
tendollars 10
10 10
10 10
fivedollars 5
5 5
5 5
PAGE 6
GRADE 5The Classroom Store
Receipt Template (Handout5toeachstudentbeforeactivitybegins)
A P P E N D I X C
Transaction Receipt
NameofSeller:
Date:
ItemName:
CostofItem:
CashReceived:
ChangeGivenBack:
SignatureofBuyer:
Transaction Receipt
NameofSeller:
Date:
ItemName:
CostofItem:
CashReceived:
ChangeGivenBack:
SignatureofBuyer:
Transaction Receipt
NameofSeller:
Date:
ItemName:
CostofItem:
CashReceived:
ChangeGivenBack:
SignatureofBuyer:
Transaction Receipt
NameofSeller:
Date:
ItemName:
CostofItem:
CashReceived:
ChangeGivenBack:
SignatureofBuyer:
#
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