math lesson Essay -- essays research papers

Lesson Plan TitleAlexander, Who Used to Be Rich Last Sunday Understanding Opportunity Costs Grade Level2, 3, or 6thDuration three 50-minute class periods Student GoalTo understand that there is an luck cost to every economic decision and that these costs perplex as a result of limited resources. Student ObjectivesStudents will Identify " prospect costs" in the yarn and in their own lives. Create an opportunity costs bar graph as a whole class. Complete a table of personal spending and savings information. keep an original story almost how they spent and saved their allowance and what they gave up or their "opportunity costs" in order to reach their goals.Materials a copy of Alexander, Who Used to Be Rich Last Sunday, by Judith Viorst chart paper markers overhead projector transparency student handout How I Spent & Saved My Allowance (included). This was provided by the teacher in which I was doing my participant observations with. Set Up and Prepare 1. Use t he book Alexander, Who Used to Be Rich Last Sunday, by Judith Viorst.2. Write the definition of the term "opportunity cost" on a sheet of chart paper and display for the classOpportunity Cost what you give up when you decide to do or buy something3. Draw a bar graph on a transparency. Write the title "Opportunity Costs for a College Education" across the top. Label the horizontal axis "Opportunity Costs." Label the vertical axis "Number of Students."4. Print out copies of the student handout "How I Spent & Saved My Money" for each student to take home.Directions PART I Step 1 Share with students a story about a time when you did not buy something you really wanted so that you could use or save the cash for something more important. For example, maybe you didnt go on a vacation so you could save the money for a car you need to buy. Explain that what you gave up is called an "opportunity cost." Direct students attention to the defini tion of "opportunity cost" displayed on the chart paper.Step 2 Ask students to share stories from their own lives in which they gave up something to get something else, or to save for something else that they want more. deem them identify their opportunity costs. Ask studen... ... How much does Alexander have subsequently he buys the gum? ($0.85) subsequently he loses a bet to his mother? ($0.70) after he rents Eddies snake? ($0.58) after his father fines him for saying naughty words ($0.48) after flushing pennies down the toilet and dropping a nickel through a crack? ($0.40) after paying for Anthonys chocolate bar? ($0.29) after pennies disappear in Nicks trick ($0.25) after paying his father for kicking his brother? ($0.20) after buying things at a garage sale ($0.00).Set Up Shop/ Learning CenterStudents set up a shop and mathematical function play the parts of customer and shopkeeper, making economic decisions along the way. Have them draw pictures or use manipulativ es for the items they are selling in the store. Allow them to mould prices and tag each item. Then give all students the opportunity to be a customer and the shopkeeper. Provide customers with a limited amount of play money to spend in the store. They will need to budget their money so that they can afford all they need to buy. Using play money too, the shopkeepers change their math skills as they make change for the customers. AssignmentsStudent Handout How I Spent & Saved My Money