Stage 2 HSIE: We can all be good Consumers & Producers
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Stage 2 HSIE: We can all be good Consumers & Producers
This site presents resources regarding the topic of consumers and producers (financial literacy/numeracy) for Stage 2 level children.
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School case studies | Global Education

School case studies | Global Education | Stage 2 HSIE: We can all be good Consumers & Producers | Scoop.it
Lauren Wigan's insight:

I came across this description of the “Microcredit Fun Day” and immediately understood it to be something that is so beneficial for students, teachers and the wider school community in so many ways. The children featured in this Fun Day were encouraged to use the knowledge and understanding of money, consuming and producing. They actually physically engaged with this knowledge to enhance their understanding of it. As it states in the beginning of the article; “Each class decided on a product or service. They learnt about their product or service, undertook surveys to gauge the market and wrote a business plan. They applied for a loan from the School Council.” What we see here is a direct engagement and practice of producing responsibly as well as engaging with the “consumers” they targeted. Even though this activity involved children in Year 2 (Stage 1) this is still something that can be taken and implemented across any year or stage as it is a universal activity, it plays upon universal skills, ideas and concepts. We can use this global education case study and implement the same activity within schools that we may teach in. It allows for children to obviously exercise their mathematical knowledge, there is not doubt there. However it also works to promote social skills in that, children work to plan and set up their mini-business where they exchange ideas and work collaboratively to come to satisfying agreements. Problem solving is an area that must be practised and developed in children and this activity will surely require them to solve the problems that may arise in their businesses, for example; getting the right about of products to sell, what to do if the products arent popular; how to advertise better and attract customers. The PHDPE syllabus is clearly engaged in here in that, they are engaging in team work and relationship building/improving tasks. They also must be made aware of the fact that this is done all over the world, to ensure that they  understand money as a universal and global phenomenon. The assessment here is the market itself, but a reflection activity to accompany it would do no end of good for the literacy and social skills aspect of this project. Children could produce diary entries for this task, explaining and reflecting on the positive and negative experiences, stating what could be done better. They could also, as a group, work out the total made from their “business” and answer a set of questions about its financial projections, for example, “If this store made the same amount every day for 5 weeks, how much would have been made altogether?” Or even questions like, “The cost of flour and milk (if the business is a cake stall) has risen by $2 per kilogram. How many kilograms did you use to make the cakes in your store? How much did it cost before and then after the rise in cost?”. 

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Fun Ways to Teach Kids About Money

Fun Ways to Teach Kids About Money | Stage 2 HSIE: We can all be good Consumers & Producers | Scoop.it
With the right approach, your child will learn valuable financial lessons.
Lauren Wigan's insight:

This article by Daniel Bortz concerns itself with the topic of financial education. It explains that it is vital to instruct children on how to use money carefully and responsibly. It also explores the fact that children need to understand how money is acquired, how it is worked for and why. It is clear that it is directed more towards parents and guardians, however teachers are also the main “influencers” in children's lives, and teachers spend a great deal of time with children not only educating them about subjects such as English, History, Maths, Science, Art, Drama, Geography etc, but they also teach them general life skills. Doing that the right and effective way is critical in their younger primary years of age and therefore, reading and understanding this article as a teacher is exceptionally important.  It raises a few points/explores a few tips on how to introduce the topic to children. Firstly, it explains that using cash and physical money rather thank credit cards and cheques would be wise.  He states that utilizing the old fashioned piggy bank would work well for kids as it instils not only a sense of achievement when they make enough to afford something they want or need, but also allows them to understand that money needs to be looked after. Bortz references Beacham in his article, calling upon her understanding that games are an excellent tool for approaching the topic of money with kids. Children don't always respond well to being preached at, so allowing them to go forth and interact with money in the form of games is vital for information retention and understanding. This is where teachers come in. Teachers can assign money games for children to play, all the while linking these games back to a mathematical foundation, even a literacy foundation as explained before; where children understand key terms such as “expenditure” and then define them and use them in sentences.  These websites that I have found contain an abundance of money games;

 

1.http://www.richkidsmartkid.com/ ;

 

2.http://pbskids.org/itsmylife/games/mad_money_flash.html


3.http://www.makeuseof.com/tag/10-interactive-financial-websites-teach-kids-money-management-skills/.  ;

 

An example of a classroom activity would be to assign groups a budget and then collect and use supermarket catalogues to work out how much the things they need every day will cost. The teacher could then assign them with a “job” with an hourly rate. This could then allow for mathematical questions to be asked. They could work out how many hours would they need to work a week in order to be able to afford what they want and need. It also addresses the distinctions between needs and wants according to monetary and financial frames of thinking. 

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A premier source of classroom tested, Internet-based economic lesson materials for K-12 teachers and their students | EconEdLink

Lauren Wigan's insight:

I feel that is is very important to introduce any topic with a very visually engaging and straight forward presentation of the key ideas that the students will be required to learn about and understand. That is why I recommend this website (...http://www.econedlink.org/interactives/economic-interactive-search.php?type=educator&cid=23&gid=1). I explored what it had to offer and came across the concise Producers presentation (the main link) and the Consumers presentation located in this link (http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?filename=em457_story1.swf&lid=457). The introductory presentation can be used easily for a variety of abilities that exist within the Stage 2 classroom. These presentations define their respective key terms and place the definitions into contexts that middle primary aged children can understand. At the end of each short presentation it has a drag and drop activity which requires children to drag the pictures to where they belong- either with the “consumer” or “producer” definition. This activity can be done individually, but I feel it would be more effective if worked through collaboratively. A smart board could be used to engage the whole class, asking them all what the answers could be. Once they reach a conclusion, a teacher may want to pick one student at a time to drag and drop the answer on the whiteboard. I feel that this engages the whole class and promotes team work and collaborative thinking, which proves to be more than just a time to find the right answers, but to build upon and improve peer to peer learning. Its also effective because it will allow a teacher to gage the level of the students initial understanding. It mirrors that of a typical mind map activity which most teachers may use to start brainstorming their students preconceived ideas of certain topics. This then allows the teacher to work out what areas of a students knowledge need to be corrected, supported and/or extended.  

 

Children who are able to read well will be able to engage with what is being displayed. Yet it also caters to those who may require extra assistance with reading the text. This assistance is provided in the form of an audio or voice accompaniment. Even the images presented along side the texts and narration are supportive and understandable for any ages-however I believe that the function of the images falls primarily into the aesthetic engagement and entertainment bracket.
These presentations are ideal to use when beginning this topic area of consumption and production as it puts the terms into contexts that children understand. It prompt teachers to think of questions that engage students on a personal and/or egocentric level- to ensure understanding and comprehension has been accomplished initially. After playing these presentations, we might choose to ask children, “What kind of things do you consume on a daily basis?”, followed up by questions along the lines of;  “And who or what is responsible/in charge of making that for you?”

Due to the fact that this activity works on definitions and not financial/mathematical understanding as yet, a literacy activity could be set for the students- again to ensure they understand the basics. They could perhaps use a story/picture book to examine how the characters are consumers and/or producers. Books about farmers, cooks (both producers), builders (the Bob the Builder picture books, for example, show Bob as a producer and service provider) and doctors (service providers) would work quite well here. Alternatively, students could create their own stories, using these consumer and producer key ideas for the character profiles and content. They could work in groups to come up with a story line that ensures that the character consumes and/or produces something. This could be done over the span of three or four lessons and then presented to the class at the end of the final lesson. 

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Be MoneySmart this week with award winning financial literacy program, ‘Milba Djunga’ | indigenous.gov.au

Be MoneySmart this week with award winning financial literacy program, ‘Milba Djunga’ | indigenous.gov.au | Stage 2 HSIE: We can all be good Consumers & Producers | Scoop.it
Lauren Wigan's insight:

This report is about a financial literacy program called Milba Djunga (translated to Smart Money); which was implemented at Yarrabah State School near Cairns last year. Pauline Kent was the creator of this program and due to its success, won a MoneySmart Week Award that same year. This article explains the function of the award winning program as well as an overview of the improvements it made to the education of the Indigenous children in that school. It explains that the program was so well received by students that elements like school attendance has improved dramatically. After reading about its success, I set about to explore the internet to find it. This is the link to the program for primary aged children http://learningplace.com.au/deliver/content.asp?pid=46583.
A teacher may choose to explore this site and adapt some of the principles and ideas it presents in order to engage Indigenous children in the study of consuming and producing as well as the general world of commerce and financial literacy. The primary based program is called "Do I need it? Do I want it? How can I get it?", and is made up of two components. The first one covers the theoretical aspect of financial literacy; educating children about their everyday wants and needs, things that people value and the many different ways people can get what they want and need. Students look at traditional systems of trade, earning and saving money, consuming, and the world of production/services. The second component of this task is more practical. A teacher can adapt some of the programs activities and adapt them as assessments for their HSIE class. They may, for example, adapt the section of the program where students are assigned a “job” and learn how to manage their money at a fortnightly "Market Day" hosted by the school and wider community. As the article states, their “pay slips” are worked out according to how well they perform their duties at school as well as the state of their attendance record. Students sign on and off at the beginning and end of each day and they often receive “bonuses” for completing set classroom and community tasks and good behaviour. Consequences are also carried out for negative behaviour; their pay is docked for not attending school and not being on task. Every fortnight, and under the instruction of a teacher they can; “pay their bills”, spend their money at the local store / school canteen and save any left over money by depositing it in “the bank”. In this way they learn about paying regularly for their needs such as food, or saving up for the things they want, like video games and toys. These kinds of activities seem intensely fun and practical and so any teacher and school would benefit from implementing such activities, possibly adding on a reflection report at the end, prompting students to talk about their experiences participating in this program. This could carry on throughout a school term, with students creating small portfolio entries reviewing and reflecting on each week of “spending and saving”, eventually compiling to bound folder purely for this topic.  
Overall, including this Indigenous perspective is so important. In order to be an effective teacher, we must ensure that respect and inclusion of all students is present in our teaching and resource choices within the classroom and wider school community. 

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Studyladder, online english literacy & mathematics. Kids activity games, worksheets and lesson plans.

Studyladder, online english literacy & mathematics. Kids activity games, worksheets and lesson plans. | Stage 2 HSIE: We can all be good Consumers & Producers | Scoop.it
Used by over 70,000 teachers & 1 million students at home and school. Studyladder is an online english literacy & mathematics learning tool. Kids activity games, worksheets and lesson plans for Primary and Junior High School students in Australia.
Lauren Wigan's insight:

I came across this website “Study Ladder” whilst on a visit to an Inner-West primary school. The year 4 (Stage 2) children were given some free time in the afternoon to play some interactive games that engaged with their current topic, financial literacy. Upon asking the teacher what they were doing, she explained that they were using the “Family Expenditure” activity to continue learning about how to be a responsible consumer in this world where so many things are produced, where so many goods and services are provided- that satisfy both our needs and wants. They were understanding what it meant to save, to spend and to budget. This activity that the link provides engages all these understandings about consuming, producing, spending and saving on goods and services. It its the kind of activity that brings all these ideas together in a context that again, reaches children on an everyday and egocentric level. This activity requires children to observe a families budget, perhaps one that is very similar to their family. They are to observe what the family spends their money on each month. Various services and utilities are listed such as car services, gas and the internet. They are required to call upon their knowledge of key terms such as “utilities” ,“spend” ,“save” ,“income” and “expenses” to work out the answers to each question and move along in the activity. This is where mathematic links can and should be introduced. The activity mostly requires them to look for the answer instead of actually working it out. This is because it is primarily aimed at testing the students terminological understanding of consuming and producing etc. However, a teacher may want to use this exact budget presented and create questions that require children to add, subtract according to changes made to the families monthly expenditure or income. It could be used as a revision activity or even midway through the allocated amount of lessons. Again working on a smart-board would prove highly beneficial for an initial run through of the activity, but working individually or even setting the task as homework would be equally as valuable once instruction is given. 


Note: In order to navigate this site and access the resources it contains, I recommend joining up. It is free to do so, and once this is done, you can observe and collect activities that you find interesing! Enjoy!

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