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Math and Money

 

 

Subjects

  • Mathematics

Grade

  • K-2
  • 3-5
  • 6-8

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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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