HSIE: Introducing the Use of Money in Early Stage 1
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HSIE: Introducing the Use of Money in Early Stage 1
HSIE: Social Systems and Structures SSES1 - Identifies ways in which their own needs and the needs of others are met, individually and cooperatively.
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Do I need it? Do I want it? How can I get it? - Section 2

Do I need it? Do I want it? How can I get it? - Section 2 | HSIE: Introducing the Use of Money in Early Stage 1 | Scoop.it
Tammy Tsang's insight:

When teaching about the use of money within an Australian context, it is also important to inform students of how trade occurred before money was around. Section 2 of this interactive module on money from the Australian Securities & Investments Commission introduces the concept of barter from an Aboriginal/Torres Strait Islander perspective.

 

Through this module, students are informed of the procedures (how/what they traded) and history (why they traded) of barter in Indigenous Australia, with print-out activities asking the students to consider what they think is fair trade. With simple illustrations and accompanying captions, students are introduced to the art of trade as an alternative to buying/selling with money. Against the backdrop of the students’ pre-existing knowledge of the use of money in modern society, barter as an essential part of survival highlights the overarching outcome of identifying how needs are met (Board of Studies NSW, 2006, p. 34). The ideas brought forward and the print-out activities also overlap into the indicator of “demonstrates ways in which they can take responsibility for meeting their own needs” under this syllabus outcome.

 

Links are also provided on the webpage for further resources on barter in Indigenous Australia to develop on from Early Stage 1.

 

Board of Studies NSW. (2006). Human society & its environment K-6 syllabus. Sydney: Board of Studies.

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The Great Piggy Bank Adventure - Financial Education Game

The Great Piggy Bank Adventure - Financial Education Game | HSIE: Introducing the Use of Money in Early Stage 1 | Scoop.it
Welcome to The Great Piggy Bank Adventure, a financial education game presented by T. Rowe Price and Disney to teach money management to kids and help make financial planning education entertaining.
Tammy Tsang's insight:

The ‘Great Piggy Bank Adventure’ is an online game site which incorporates the use of money into many aspects of its gaming. While education-centric resources are crucial in teaching, fun games can also be used to instill knowledge. In this case, children’s awareness to money can be raised simply through the repeated exposure to the financial terms laden throughout the games, leading to implicit learning through the mere exposure effect (Gordon & Holyoak, 1983).

 

In addition, users are able to design their own avatar within the game, making it easily relatable to the player. Catering to various learning styles, games range from mini-games such as a Pac-Man-esque coin collection game to the more challenging Monopoly-like board game. For Early Stage 1, teachers or parents may first introduce them to the mini-games, gradually directing them to the more complex elements of the site (such as the concept of making financial decisions in the board game). Thus, this resource can be used as an ongoing financial educator for children.

 

Moreover, there are many accompanying resources on the site for parents (strategy guides) and children (activity books) which can be used to reinforce the knowledge from the games and make the entire experience a more effective means of education.

 

Gordon, P. C., & Holyoak, K. J. (1983). Implicit learning and generalization of the "mere exposure" effect. Journal of Personality and Social Psychology, 45, 492-500.

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Australian Currency Templates

Australian Currency Templates | HSIE: Introducing the Use of Money in Early Stage 1 | Scoop.it
Australian Dollar Money teaching Resources - Australian money themed border, Australian money coins, Australian money notes, Australian money people, Australian money counting cards, Australian Money Tags/Labels, Australian Money Fans, Money...

 

Tammy Tsang's insight:

This website contains PDFs of templates of Australian coins and notes which teachers and parents can use to introduce children to the Australian currency in an affordable manner. The templates bear very high resemblances to real legal tender in design, in particular the relative sizes between the various coins and notes.

 

In direct relation to the syllabus indicator where students “observe and participate in role-play activities involving the use of money” (Board of Studies NSW, 2006, p. 47), teachers can hold a ‘Class Shop’ in which students experience first-hand the act of buying and selling. Using the fake money, students play the roles of customers and shopkeepers in buying/selling various snacks, such as lollies or fruit. Snacks are not only popular with children, but can also be easily priced to reflect their actual prices. In the case of notes with larger denominations, students can learn the importance of equality in trade through receiving/providing change.

 

This activity allows students to apply their understanding of what money is and how it is used in an interactive and realistic manner, per Kolb's Experiential Learning Cycle (Taylor, Fahey, Kriewaldt, & Boon, 2012, p. 246). With the Class Shop as the first step of the cycle of having a first-hand 'Concrete Experience', students can then be encouraged to reflect on this experience and recall previous experiences of trading (such as shopping with their parents). This can eventually lead to the stage of 'Active Experimentation', through application of their newly-acquired knowledge, such as the purchasing of food from the school canteen independently.

 

As an added bonus, this can also double as a maths exercise!

 

Board of Studies NSW. (2006). Human society & its environment K-6 syllabus. Sydney: Board of Studies.

 

Taylor, T., Fahey, C., Kriewaldt, J., & Boon, D. (2012). Place and time: Explorations in teaching geography and history. Melbourne, VIC: Pearson Australia.

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Chris Barnard's curator insight, April 1, 11:29 PM

This website contains PDFs of templates of Australian coins and notes which teachers and parents can use to introduce children to the Australian currency in an affordable manner. The templates bear very high resemblances to real legal tender in design, in particular the relative sizes between the various coins and notes.

 

In direct relation to the syllabus indicator where students “observe and participate in role-play activities involving the use of money” (Board of Studies NSW, 2006, p. 47), teachers can hold a ‘Class Shop’ in which students experience first-hand the act of buying and selling. Using the fake money, students play the roles of customers and shopkeepers in buying/selling various snacks, such as lollies or fruit. Snacks are not only popular with children, but can also be easily priced to reflect their actual prices. In the case of notes with larger denominations, students can learn the importance of equality in trade through receiving/providing change.

 

This activity allows students to apply their understanding of what money is and how it is used in an interactive and realistic manner, per Kolb's Experiential Learning Cycle (Taylor, Fahey, Kriewaldt, & Boon, 2012, p. 246). With the Class Shop as the first step of the cycle of having a first-hand 'Concrete Experience', students can then be encouraged to reflect on this experience and recall previous experiences of trading (such as shopping with their parents). This can eventually lead to the stage of 'Active Experimentation', through application of their newly-acquired knowledge, such as the purchasing of food from the school canteen independently.

 

As an added bonus, this can also double as a maths exercise!

 

Board of Studies NSW. (2006). Human society & its environment K-6 syllabus. Sydney: Board of Studies.

 

Taylor, T., Fahey, C., Kriewaldt, J., & Boon, D. (2012). Place and time: Explorations in teaching geography and history. Melbourne, VIC: Pearson Australia.

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Foreign Currencies - An Interactive Map

Tammy Tsang's insight:

This interactive map presents the idea that different countries around the world use different currencies. It provides a more geographical take on the concept of money. While the map does not contain any substantial information about the various currencies, when the user clicks into a particular region and country, a photo of the local currency is shown. Particularly in continents consisting of many neighbouring countries, students can observe that even places in close proximity may use money which looks completely different to one another. Or, that several countries may use the same currency (such as the euro). Images are an effective tool in communicating and establishing emotional engagement in learning, especially when underpinned contextually (Callow, 2012, p. 74). In this case, teachers can begin by showing the position of Australia on the map, where students should recognise the Australian currency, and branch out to a more global perspective.

 

This map is a great tool for teaching Early Stage 1, when students begin to explore and develop awareness for diversity (Commonwealth of Australia, 2008, p. 13). With the growing number of multicultural classrooms, discussions can be held where students share what currencies they may have encountered from their own background or experiences.

 

Callow, J. (2012). The rules of visual engagement: Images as tools for learning. Screen Education, 65, 72-79.

 

Commonwealth of Australia. (2008). Global perspectives: A framework for global education in Australian schools. Carlton South, VIC: Education Services Australia.

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For Me, For You, For Later - Sesame Street

For Me, For You, For Later - Sesame Street | HSIE: Introducing the Use of Money in Early Stage 1 | Scoop.it
Invest in your child's future with ways to learn about saving, spending, and sharing.
Tammy Tsang's insight:

This Sesame Street video follows Elmo as he encounters various difficulties trying to find something to buy with his money. It is presented in the humourous and educational way that only Sesame Street can achieve, involving the use of song and dance.

 

Two key themes which stand out in this video are earning and saving money. This was demonstrated through Elmo wanting to buy a ball which cost five dollars when he only had one dollar. He had to work and save up his money, eventually succeeding in purchasing a ball. In particular, in Elmo’s quest to save money, he made a piggy bank out of a spare jar by cutting a slot on the lid. This can be a lead-in to a follow-up crafts activity in the classroom or at home, where children can make their own piggy bank from coffee jars or drink bottles and decorate them. Elmo also accentuates the appropriate use of money. e.g. Elmo knew he could buy detergent with his money, but acknowledges that he does not wear clothes, hence he has no use for detergent.

 

Videos are an instrumental tool in teaching and learning since most people, children and adults, ‘read’ visual texts more readily than written texts. They play an important role in the “creation and circulation of knowledge” through their reflection of the human experience (Connor & Bejoian, 2006, p. 53), as videos are inherently engaging emotionally (Yadav et al., 2011, p. 15). This is especially true with Sesame Street, which most students in kindergarten would be familiar with and can relate to.

 

Connor, D. J. & Bejoian, L. M. (2006). Pigs, pirates, and pills: Using film to teach the social context of disability. Teaching Exceptional Children, 39(2), 52-60.

 

Yadav, A., Phillips, M. M., Lundeberg, M. A., Koehler, M. J., Hilden, K., & Dirkin, K. H. (2011). If a picture is worth a thousand words is video worth a million? Differences in affective and cognitive processing of video and text cases. Journal of Computing in Higher Education, 23(1), 15-37.
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