ND Curriculum Initiative

Subject & Standards

Needs Assessment/Rational

In reviewing the needs assessment for this unit, I looked at last year’s Terra Nova scores in the area of math. I found that 41% of the students tested partially proficient or novice on standard #3, data analysis, statistics, and probability. I felt that this standard was directly related to a student’s ability to plan and implement a budget as well as maintaining financial records and making budget revisions. When I looked at the break down of standard #3, I found that 33% scored partially proficient or novice on section one of standard #3 which gauges the ability to collect, read, and display data. If a student has difficulty collecting, reading and displaying data, it would be difficult for a student to track their spending and determine how their money is being spent. On section four of standard #3 which assesses the student’s ability to identify basic trends in tables and graphs, 73% scored partially proficient or novice. This would make it challenging for a student using graphs to identify that their budget is not working for them as it should be.

I also felt that it would be a good idea to ask the students, who would be a part of this lesson, what feelings they had about creating and sticking to a budget. I found that 38% felt they regularly made purchases on impulse and later regretted them and 85% of the class thought they could do a better job managing their funds.

I believe that by providing learning activities that imitate the real world, my students will take more away from this unit than they would have otherwise.

Understandings & Goals

Enduring Understanding:
I want my students to understand that the financial decisions they make today will directly impact their future financial situation.
 Goal(s):
Students will be aware of the importance of a successful budget and the impact it could have on their financial future.

Questions Answered

Essential questions:
What vocabulary must be learned before trying to develop a personal budget?
How do you prepare a personal balance sheet and a cash flow statement?
How do you know how much of your income should be allowed for your various budgeted expenses?
How do you estimate or track your spending?
How do you estimate your income?
What does it mean to “Pay Yourself First”?
How do you know when your budget is or isn’t working?
When is it okay to revise your budget?
What is the difference between fixed and variable expenses?
Objectives:
While tracking their spending and preparing a personal balance sheet and cash flow statement, with 90% accuracy, students will identify the processes vital to the creation of a sensible budget. While reviewing their budgets, 100% of the time students will demonstrate the need to revise their budgets if they are consistently overspending in any one budgeted category.Students will be able to define the characteristics of a successful budget through written reflection with 90% accuracy.

Assessment

What quiz and test items (e.g. simple content-focused questions that require a single, best answer) will provide evidence of understanding?
  Students will be given a test with multiple choice, T/F, and short answer questions based on the content. EX: What are the characteristics of a sucessful budget? Is a car payment a variable expense? TF

What academic prompts (e.g. open-ended questions or problems that require students to think critically and then to prepare a response / product / performance) will provide evidence of understanding?
  If there are several items you would like to purchase, but your budget only allows you to purchase one of them, how do you decide which one to buy? How do you know it is time to revise your budget? Students could be asked these questions during a classroom lecture and there could be a classroom discussion as to the correct answer. I could also have the students respond to the questions and then e-mail them to me.

What performance tasks and projects (e.g. complex challenges that are authentic, mirror the real world and require a performance or product) will you include that will provide evidence of student understanding?
  It is my intent to bring the real world into the classroom by requiring the students to track their own personal spending for a week. Every time they buy something they must write down what it was and how much it cost. After the week is over they must prepare a reflection. They will need to look back at what they purchased and discuss their feelings. Were they good purchases? Were any of the purchases made on impulse? Do you regret any of the purchases? Do you wish you would have shopped around more? Did you have to give up one purchase to make another?

What other evidence (e.g. observations, work samples, dialogues, student self-assessment) of understanding will you collect?
  I will observe students as they are working on their assignments. I will pose questions through classroom discussion and their responses will help me gauge their level of understanding. I will use student input when designing a rubric to score the various projects that they will be completing.

Instructional Strategies

A combination of the inquiry-based and project-based teaching and learning strategies will be used. Inquiry based will be used when students are asked to track their spending by keeping track of everything they purchase and how much it costs (gather and record), and then reflect on their findings in an email to their teacher (discuss).

Once the students have gathered and recorded their information, I hope they are able to consider the information and question why they are spending and what they are buying. Are they impulse buying? Are they eating out a lot instead of at home?

Project based activities will include planning their own dream vacation and redecorating their room with imaginary money. These activities mirror the real world. Some day they will be adults and will be faced with planning family vacations and decorating the family home on a budget. Students will be asked to produce several end products, including PowerPoint presentations and detailed budgets using a spreadsheet.

As the teacher, I will move around the classroom giving feedback and suggestions to help students improve their projects. Students will be required to work on their projects individually, but I will encourage the sharing of ideas.