NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively
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Teacher resources, NSW, financial literacy for children

Teacher resources, NSW, financial literacy for children | NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively | Scoop.it
Teaching resources, financial literacy for kids - Teacher resources for teaching children finance - financial education, financial literacy, money management and understanding money for primary school children.
Kylie Z's insight:

The developers of the MakingCents program have created a teachers’ guide dedicated towards lower primary students with a focus on using money – the unit provides students with the knowledge, skills and understandings related to budgeting, saving, making financial decisions, financial products and services, technical terms related to finances, being entrepreneurial and being financially responsible.

 

There is a suggested activity in the guide that encourages students to differentiate between needs and wants, which requires money and which does not. It will require a slight modification in order to suit kindergarten students.

 

As a class, students can brainstorm things that we need to live and what we would like to have to make ourselves more comfortable. Go through the list again, but this time, have students hold up a card with ‘$’ on it if the need or want requires money.  This increases all students’ level of participation in class and teacher can also see whether students’ have an accurate understanding through their responses (Kounin, 1970). A mathematical link could be to order the priced items from least to most expensive – this could be done through organising the pictures (hand drawn or prepared by teacher) of the items along a line (this meets NSW Mathematics K-6 Syllabus DES1.1 – represents and interprets data displays made from objects and pictures).

 

For an assessment task, the guide recommends having students to draw, write or cut and paste pictures of their own needs and wants and categorise them. To stimulate higher-order thinking and improve collective understanding of using money, students can compare and contrast each other’s concept map to appreciate the diversity in human needs and wants (Newmann and Wehlage, 1993 as cited in Gilbert & Hoepper, 2011).

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Kylie Z's comment, April 22, 2013 10:36 AM
References

Board of Studies, NSW. (2006). Mathematics K-6 syllabus. Sydney: Author.

Gilbert, R., & Hoepper, B. (2011). Teaching society and environment. 4th Edition. Victoria: Cengage Learning.

Kounin, J.S. (1970). Maintaining group focus: group alerting, accountability and format. Discipline and group management in classrooms (pp. 109-124). New York: Holt, Rinehart and Winston.
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Commonwealth Bank Group - Coinland

Commonwealth Bank Group - Coinland | NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively | Scoop.it
Coinland is a fun and exciting world where you can make new friends, play awesome games and learn all about money!
Kylie Z's insight:

This online game developed by the Commonwealth Bank helps children to learn about the benefits of earning, saving and investing money. It is designed for children aged 5-10 years, so with some guidance and demonstrations, kindergarten students could learn to navigate their way around this virtual world and complete the quests (this meets NSW English K-6 Syllabus RES1.5 – demonstrates developing reading skills to read short, predictable written texts on familiar topics).

 

This game could be introduced to kindergarten students when they have gained some background knowledge on what money can be used for and why. There may be some terminology that will need to be explained e.g. investing, gaining interest. By incorporating the use of ICT in classrooms, teachers are creating new learning environments for their students to participate in while also helping them to develop computer skills (MCEETYA, 2005, p. 8). They can also access this game at home.

 

Teachers can conduct one-on-one interviews with each student to find out what the children like about Coinland and what they have learnt from playing the game. Students can also document their progress by drawing pictures of their accomplishments in Coinland to communicate to their peers what they have learnt. 

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Kylie Z's comment, April 22, 2013 10:42 AM
References

NSW Board of Studies. (2007). English K-6 Syllabus. Sydney: Author.

MCEETYA. (2005). Pedagogy strategy: learning in an online world. Retrieved April 21 2013, from http://www.mceetya.edu.au/verve/_resources/pedagogy_strategy_file.pdf
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NOVA | The History of Money

NOVA | The History of Money | NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively | Scoop.it
From barter, cattle, and cowrie shells to modern coins and currency, see how economic exchange has evolved through time.
Kylie Z's insight:

This web-page provides an overview of the history of money around the world and gives ideas on why and how people exchanged goods. The information can help children to understand how people of different cultures had their needs and wants met in the past.

 

Students can interview their carers, parents or grandparents how their ancestors used to get what they needed or wanted, what kind of currency or trading systems were used. Alternatively, they could choose a country and research with their parents on the Internet what kinds of currency/s were used and what they use now. Once students have their information, they could print or draw a picture of the currency from the past and the present and stick it onto a world map that will be hung up in the classroom.

 

As an assessment task, students can write a simple procedural recount on the steps they used to find out their information (this meets NSW English K-6 Syllabus WES1.9 – engages in writing texts with the intention of conveying an idea or message). These steps can be accompanied with sketches or photos – or students can orally recount as a part of show and tell how they did their research and what they found out about currencies in the past and in different countries (this meets NSW English K-6 Syllabus TES1.2 – demonstrates basic skills of classroom and group interaction, makes brief oral presentations and listens with reasonable attentiveness). 

 

It is increasingly important that teachers expose children to a variety of cultures or ways of living, so that ‘…all students understand and acknowledge the value of cultural and linguistic diversity, and possess the knowledge, skills and understanding to contribute to, and benefit from, such diversity in the Australian community and internationally’ (Ministers of Education, 1999 as cited in Commonwealth of Australia, 2011, p. 3). 

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Kylie Z's comment, April 22, 2013 10:48 AM
References

Commonwealth of Australia. (2011). Global perspectives: a framework for global education in Australian schools. Carlton South, VIC: Education Services Australia.

NSW Board of Studies. (2007). English K-6 Syllabus. Sydney: Author.
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ASIC - MilbaDjunga - Smart Money - Primary Unit | MoneySmart Teaching

ASIC - MilbaDjunga - Smart Money - Primary Unit | MoneySmart Teaching | NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively | Scoop.it
Information and updates helping young people be MoneySmart
Kylie Z's insight:

This interactive online unit is developed by the Queensland Department of Education and Training and the Australian Securities & Investments Commission to support teachers of Aboriginal and Torres Strait Islander students about exploring wants and needs, earning money and budgeting and provides guidance on how to set up a classroom economy. It is tailored for older students in Year 5-6 so adjustments need to be made to the activities in order to suit kindergarten students. One of the authors is an Indigenous teacher and the Indigenous Schooling Support Unit – Northern Queensland, developed the unit.

 

While Indigenous Australians in the past did not have the concept of money in their cultures, the idea of exchanging something ‘valuable’ can still be explored to help kindergarten students understand that Indigenous Australians in the past needed to exchange with one another, through gifting and bartering, in order to get what they wanted and needed. It will also be important to explain that Indigenous Australians today now use money and other means to get what they need and want. Teachers can use Section 2 and 3 from this unit to get ideas on how to present the aforementioned ideas to kindergarten students.  

 

For example, when teaching about Indigenous trading systems (‘gifting’ and ‘bartering’), students can role-play ‘bartering’ in pairs and demonstrate examples of fair and unfair trading in front of the class (this meets TES1.1 from the NSW English K-6 Syllabus – communicates with peers and known adults in informal situations and structured activities dealing briefly with familiar topics). They can explain to the class how they have showed fair/unfairness in their role-play – this will be an opportunity for the teacher to assess what their students are thinking in terms of trading, bartering and fairness. Role-plays can motivate students to become engaged with the topic and also provides opportunity to interact with their peers, which develops their social skills (McInerney & McInerney, 2010, p. 206).  

 

Other useful links that contain more information about the trading include:

 

http://www.atlas.sa.gov.au/resources/atlas-of-south-australia-1986/the-course-of-settlement/aboriginal-occupation&nbsp

 

http://asset2.clinicdesign.com.au/mam_asset/aboriginaltrade?id=5301020a6470ce62000000f9e96fb027&col=/client_db/MUSA&ext=jpg&type=pdf&nbsp

 

http://www.qhatlas.com.au/content/aboriginal-dreaming-paths-and-trading-ways

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Kylie Z's comment, April 22, 2013 10:35 AM
References

McInerney, D., & McInerney, V. (2010). Discovery, metacognition and effective learning. In D. McInerney, & V. McInerney, Educational Psychology - Constructing Learning (p. 206). Sydney: Pearson Education Australia.

NSW Board of Studies. (2007). English K-6 Syllabus. Sydney: Author.
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Toca Boca | Toca Store iOS App

Toca Boca | Toca Store iOS App | NSW HSIE K-6 Syllabus (SSES1.7) Identify ways in which their own needs and the needs of others are met, individually and cooperatively | Scoop.it
Toca Boca, producers of GREAT iOS games for kids, has just released Toca Store! Teach your child social and money-management skills while having FUN!

Via Apps for iPads
Kylie Z's insight:

Toca Store is an iOS app that gives young children the opportunity role-play as storekeeper and customer. Children set up their own inventory and can practice counting down, addition and subtraction.

 

If teachers do not have access to iPads at their schools, teachers can have students set up different kinds of stores in the classroom to meet different needs and wants. Students can be organised into groups and be given a task to set up their own shop. Their target market would be people who have just bought a new house and need to do some shopping. Students have to choose eight items that they would like to sell to these people. All students will have the opportunity to visit other stores and pretend to make five purchases – the store with the most transactions wins as it shows that they have appealed to the majority of customers.

 

Brainstorm as a class what roles they need and what items they might sell if they were the only store in the city. They might need to conduct a survey on what items should be sold – what are popular things that people need and want? The focus of the simulation is to have students be aware of what items are needed or wanted. As a mathematical link, a made up monetary system could be established – instead of using dollars and cents, the class could use a counter/scale system of 1-10, with 10 representing something as expensive as a car and 1 representing something as cheap as box of chewing gum. They will have to decide how many counters they should charge for each item in their shop (this meets NSW Mathematics K-6 Syllabus NES1.1 – counts to 30, and orders, reads and represents numbers in the range 0 to 20). The teacher can visit each shop and have students explain their process and why they have chosen these particular items to sell. Feedback can also be given during the planning stages to suggest how students can attract more customers.

 

It is important to design tasks that students find relevant and able to connect with so that the learning is more meaningful to them – this is highlighted in the ‘significance’ dimension of the NSW model of pedagogy (NSW DET Professional Support and Curriculum Directorate, 2003, p. 5). This simulation task also demands deep understanding on money, needs and wants which meets the ‘intellectual quality’ dimension (p. 5) and is student-centred as well since it gives the students a lot of authority over their own work, additionally meeting the ‘quality learning environment’ dimension (p. 5). 

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Kylie Z's comment, April 22, 2013 10:44 AM
References

Board of Studies, NSW. (2006). Mathematics K-6 syllabus. Sydney: Author.

Department of Education and Training Professional Support and Curriculum Directorate. (2003). Quality Teaching in NSW Public Schools: An annotated bibliography. Sydney: Author.