show me the money!
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Show me the money!. ATMIM January 12, 2012. Overview. Why Financial Literacy Mathematics not Economics Check it out Resources. Why F inancial Literacy. National Trend 21 st Century Skills Money Motivates. National Trend. 24 states require financial literacy standards - PowerPoint PPT PresentationTRANSCRIPT
ATMIM January 12, 2012
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OverviewWhy Financial LiteracyMathematics not EconomicsCheck it outResources
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• National Trend• 21st Century Skills• Money Motivates
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National Trend
24 states require financial literacy standards8 specify in the mathematics curriculum10 specify in the social studies curriculum13 include passing grades as graduation
requirement6 require integration throughout the grades, but
do not specify content/curriculum
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Massachusetts & Financial Literacy
Legislation S-1994AN ACT CONCERNING PERSONAL FINANCIAL LITERACY IN SCHOOLSRequires the Department of Elementary and Secondary Education to develop standards and objectives for personal financial literacy for grades pre-K to 12 in the mathematics curriculum.Includes some funding via the Financial Literacy TrustEstablishes an ESE Financial Literacy advisory council
In MA Senate Ways and Means committee
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Where in the mathematics standardsPrimary Example
Elementary ExampleMiddle School Example
High School Example
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MA Standards for MathematicsGuiding Principle #4 Equity
… preparing students for college and careers is to ensure that they have the necessary mathematics and problem-solving skills to make sound financial decisions that they face in the world every day, …
Standards for Mathematical Practice#2 Reason abstractly and quantitatively#3 Construct viable arguments and critique the reasoning
of others#4 Model with mathematics#6 Attend to precision
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Grade 2Measurement and Data2.MD.7 Tell and write time from analog and digital clocks to the nearest five minutes, using a.m. and p.m.
MA.2.MD.7a Know the relationships of time, including seconds in a minute, minutes in an hour, hours in a day, days in a week, a month, and a year; and weeks in a month and a year.
2.MD.8. Solve word problems involving dollar bills, quarters, dimes, nickels, and pennies, using $ and ¢ symbols appropriately. Example: If you have 2 dimes and 3 pennies, how many cents do you have?
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Primary Example: Grade 1
MathematicsCounting and addition and subtractionEquationsPlace valueMA additional standard comparative values of US coins
Social Studies (Economics)Buying goodsServicesEconomic choices regarding purchases
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Grade 5Introduction: They apply their understandings
of models for decimals, decimal notation, and properties of operations to add and subtract decimals to hundredths. They develop fluency in these computations, and make reasonable estimates of their results. They compute products and quotients of decimals to hundredths efficiently and accurately.
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Elementary Example: Grade 4Mathematics:
Multistep word-problems with equations using variablesComparing multi-digit numbers, including decimals ( =, <, >)Four operations (+, -, x, /)Fractions and decimals Interpreting data
Social Studies (Economics)Natural resourcesLimited and unlimited resources effect choicesBuyers and sellers in the market place
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Grade 7Expressions and Equations7.EE.3 Solve multi-step real-life and mathematical problems posed with positive and negative rational numbers in any form (whole numbers, fractions, and decimals), using tools strategically. Apply properties of operations to calculate with numbers in any form; convert between forms as appropriate; and assess the reasonableness of answers using mental computation and estimation strategies. For example: If a woman making $25 an hour gets a 10% raise, she will make an additional 1/10 of her salary an hour, or $2.50, for a new salary of $27.50.
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Middle School: Grade 7Mathematics
Ratio and proportional relationshipsRational numbersMulti-step real-life problems
Social Studies (Economics)Define and apply concepts: Producers, consumers, savings,
prices, markets, trade, money, medium of exchange, supply and demand
(Grade 6) foreign currency; international trade
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FunctionsF-IF.8 Write a function defined by an expression in different but equivalent forms to reveal and explain different properties of the function.
b. Use the properties of exponents to interpret expressions for exponential functions. For example, identify percent rate of change in functions such as y = (1.02)t, y = (0.97)t, y = (1.01)12t, and y = (1.2)t/10, and classify them as representing exponential growth or decay.
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High School ExampleMathematics Social Studies/EconomicsQuantities
Units, scale, descriptive modeling, levels of accuracy
AlgebraExpressions , equations, and
inequalitiesRearranging formulas
FunctionsLinear, quadratic, and
exponentialModelingStatistics and Probability
Explanation of financial markets
Costs and trade offsMarket competitionExchange rate and domestic
pricingInflationLocal, state, and federal taxes
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Tasks at your table
Each table has a task packet Elementary, Middle or High School task.Appropriate grade level content standardsStandards for Mathematical Practice
Review the taskIndicate the content and practice standards best met by
the task
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RecommendationsInclude monetary problems and tasks in your lessonsBe explicit: point out the uses of mathematics for financial literacyEngage the students in their monetary/financial concerns
Early grades Saving vs. spending
Middle grades Needs vs. wants
High school Credit vs. debits
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OpportunitiesMassachusetts Financial Education Collaborative
“Need and Wants” Video Challenge (Middle School)http
://masssaves.org/event/mfec-middle-school-needs-and-wants-video-contest
National Financial Capability Challenge (High School)http://www.challenge.treas.gov/about.aspx
Financial Fluency Pilot for Algebra I or Algebra II
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Useful linksMA Department of Elementary and Secondary Education
MCAS transition: http://www.doe.mass.edu/mcas/transition/?section=math Frameworks: http://www.doe.mass.edu/candi/commoncore
PARCC http://www.parcconline.org/ http://www.achieve.org/PARCC
Follow Bill S 1994 Legislature: http://www.malegislature.gov/Bills/187/Senate/S01994 Midas Collaborative: http://www.massassets.org
MA Treasurer’s Office: http://www.mass.gov/treasury/financial-education/
Jump$tart Coalition (FDIC) http://clearinghouse.jumpstart.org/browse/free/?page=1
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Sharyn M. [email protected]
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