Math and Money

Subjects

• Mathematics

Grade

• K-2
• 3-5
• 6-8

Brief Description

"Show Me the Money" is a game that has students solve math problems related to money and express answers in the most efficient denominations.

Objectives

Students

• record math problems accurately.
• use computational skills.
• represent a dollar amount in the least number of bills and/or coins.
• work cooperatively in groups.

Keywords

math, game, coins, bills, money

Materials Needed

• grade-level appropriate math computation or word problems that involve money
• pretend coins and bills for each student group, if desired
• paper and pencils

Lesson Plan

Find your favorite math word or computational problems that involve money and get ready to put them to use in a fun review! Show Me the Money asks students to solve these math problems and express their answers in the largest denominations possible. Young students and older ones can practice their math skills and become smarter consumers as they engage in this fun group game.

For younger children who are just starting out with money skills, students may work in pairs. One may write an amount or a simple problem read by the teacher on paper. (Students might write "$4.25" when it is read by the teacher.) After one partner records the amount or solves the problem, the other partner can use pretend coins and bills to represent the amount or answer. When the teacher says, "Show me the money!," the students reveal their change. It is checked by the teacher, and play proceeds. ($4.25 would require four $1 bills and a quarter.) The students reverse roles in the next problem.

Older students are ready for a greater challenge. They may work in groups of as many as four, taking turns in the roles of

• recorder (writes the problem accurately),
• calculator (performs computation),
• exchanger (expresses the amount in the largest denominations possible), and
• organizer (oversees solving of problem, checks computation, and checks expression in dollars and cents).

  In advance of playing, students might list denominations that may be required for the amounts in the problems going down the side of a page. This list is likely to include $100, $20, $10, $5, $1, $.25, $.10, $.05, and $.01.

  The teacher announces a problem, and the students complete it on paper in their roles within the groups. When the teacher says, "Show me the money!" the students reveal their calculations and change. The teacher may choose one group to discuss the problem and how it achieved the correct answer and appropriate use of currency. If desired, the organizer may serve as the speaker for the group. Then the next problem is read.

  Variation
  In a foreign language class, students may convert an amount and express it in the currency of the country they study.

  Assessment

  The teacher will monitor younger students as they work. Older students may receive points in their groups:

• Two points are awarded for correct answers expressed in the largest denominations.
• One point is given if the answer is correct but the money expression isn't the most efficient possible.

  Lesson Plan Source

  Education World

  Submitted By

  Cara Bafile

  National Standards

  MATHEMATICS: Number and Operations
  GRADES Pre-K - 2
  NM-NUM.PK-2.1 Understand Numbers, Ways of Representing Numbers, Relationships Among Numbers, and Number Systems
  NM-NUM.PK-2.2 Understand Meanings of Operations and How They Relate to One Another
  NM-NUM.PK-2.3 Compute Fluently and Make Reasonable Estimates
  GRADES 3 - 5
  NM-NUM.3-5.1 Understand Numbers, Ways of Representing Numbers, Relationships Among Numbers, and Number Systems
  NM-NUM.3-5.2 Understand Meanings of Operations and How They Relate to One Another
  NM-NUM.3-5.3 Compute Fluently and Make Reasonable Estimates
  GRADES 6 - 8
  NM-NUM.6-8.1 Understand Numbers, Ways of Representing Numbers, Relationships Among Numbers, and Number Systems
  NM-NUM.6-8.2 Understand Meanings of Operations and How They Relate to One Another
  NM-NUM.6-8.3 Compute Fluently and Make Reasonable Estimates

   

  MATHEMATICS: Measurement
  GRADES Pre-K - 2
  NM-MEA.PK-2.1 Understand Measurable Attributes of Objects and the Units, Systems, and Processes of Measurement
  NM-MEA.PK-2.2 Apply Appropriate Techniques, Tools, and Formulas to Determine Measurements
  GRADES 3 - 5
  NM-MEA.3-5.1 Understand Measurable Attributes of Objects and the Units, Systems, and Processes of Measurement
  NM-MEA.3-5.2 Apply Appropriate Techniques, Tools, and Formulas to Determine Measurements
  GRADES 6 - 8
  NM-MEA.6-8.1 Understand Measurable Attributes of Objects and the Units, Systems, and Processes of Measurement
  NM-MEA.6-8.2 Apply Appropriate Techniques, Tools, and Formulas to Determine Measurements

   

  MATHEMATICS: Problem Solving
  GRADES Pre-K - 12
  NM-PROB.PK-12.1 Build New Mathematical Knowledge Through Problem Solving
  NM-PROB.PK-12.2 Solve Problems That Arise in Mathematics and in Other Contexts
  NM-PROB.PK-12.3 Apply and Adapt a Variety of Appropriate Strategies to Solve Problems
  NM-PROB.PK-12.4 Monitor and Reflect on the Process of Mathematical Problem Solving

  MATHEMATICS: Communications
  GRADES Pre-K - 12
  NM-COMM.PK-12.1 Organize and Consolidate Their Mathematical Thinking Through Communication
  NM-COMM.PK-12.2 Communicate Their Mathematical Thinking Coherently and Clearly to Peers, Teachers, and Others
  NM-COMM.PK-12.3 Analyze and Evaluate the Mathematical Thinking and Strategies of Others
  NM-COMM.PK-12.4 Use the Language of Mathematics to Express Mathematical Ideas Precisely

  MATHEMATICS: Connections
  GRADES Pre-K - 12
  NM-CONN.PK-12.1 Recognize and Use Connections Among Mathematical Ideas NM-CONN.PK-12.2 Understand How Mathematical Ideas Interconnect and Build on One Another to Produce a Coherent Whole
  NM-CONN.PK-12.3 Recognize and Apply Mathematics in Contexts Outside of Mathematics

  MATHEMATICS: Representation
  GRADES Pre-K - 12
  NM-REP.PK-12.1 Create and Use Representations to Organize, Record, and Communicate Mathematical Ideas
  NM-REP.PK-12.2 Select, Apply, and Translate Among Mathematical Representations to Solve Problems
  NM-REP.PK-12.3 Use Representations to Model and Interpret Physical, Social, and Mathematical Phenomena

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