Teaching Monetary Exchange in the Primary Classroom
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RBA: Education

RBA: Education | Teaching Monetary Exchange in the Primary Classroom | Scoop.it
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The Reserve bank of Australia allows students through its website to see the evolution of the reserve bank as an organisation and institution. From silent videos of the founder being knighted to the roll out of polymer notes, students will be able to see the development and change over time of this organisation. I found this site very useful to allow me the resources for myself to build knowledge in an area that I would find I had gaps in my field. With power points on the role and purpose of the RBA as well as monetary policy this resource, would put any apprehensive teacher at ease knowing that they can use this information to build their knowledge before they have to teach it to the class.  The site has a great teaching resource in allowing the students to get to know and understand the design elements of the current banknotes through an interactive website activities. By doing this it would then allow the teacher to lead into an activity where students develop their own currency to be used in conjunction with one of the other resources on this site – the classroom economy. It will add another level of depth to that as students currencies fluctuate and they have to exchange for currency that is useful for them to get what they need.

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Classroom activities

Classroom activities | Teaching Monetary Exchange in the Primary Classroom | Scoop.it
We've got a great range of downloadable Money Week resources designed for students of all ages and stages. Thanks to the Young Enterprise Trust, the Ministry of Education and ASB.  
Classroom activities
Money Week Social Sciences Learning Activities
Multi-level
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Twelve Canoes

12 Canoes is a broadband website presenting, in an artistic, cultural and educational context, the stories, art and environment of the Yolngu people who live around the Arafura swamp in north-eastern Arnhem Land.
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Focusing specifically on the Macasseans video, this resource allows for an indigenous perspective to be taken into the classroom when thinking about organisations involved with monetary trade. This resource will allow students to think deeper about what currency is and its value in society. It will allow them to develop a deeper, richer understanding of the idea that money as we know it is simply a form of currency credit. This resource allows students to look at the way indigenous people used trade of possessions, resources and food as their currency to get the items that they needed for survival. A great teaching idea, which could come out of this resource, which has an indigenous perspective would be to juxtapose the two different ways of life, before and after European colonisation using the students own knowledge of organisations involved with monetary trade and information found in this digital resource. By comparing the two, students will be able to see that money or currency are anything that can be used for trade, and while in modern times these organisations usually revolve around the Big 4, previously organisations were simply tribes and their people and their currency was what they could find and use from the land.

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Making Money

Making Money | Teaching Monetary Exchange in the Primary Classroom | Scoop.it
We often hear on the news about the changing value of the Aussie dollar.But what value does a dollar actually have? After all it's just a bit of metal isn't it? Emma went behind the scenes at the Royal Australian Mint to see how our coins are made.
Billy Hodgetts's insight:

A great resource from Behind the News, this news story looks at the Royal Australian mint and how the Australian dollar is made and transported around Australia. The royal Australian mint is a key organisation involved with monetary trade and hence students need to understand its use and what goes into making the money that they use. A great teaching idea would be to couple this with some of the other resources I have curated to allow students to develop their own mint having to construct their own currency. This has strong links into the Literacy curriculum as well as numeracy as you look at the different denominations that might be created. This resource could be used also as a leapfrog to start to look at a global perspective. A teaching idea from this perspective would be to introduce students to coins of other countries. Collect and print a selection of coins, via online research, from various countries around the world. Alternatively ask students to bring to school examples of coins that they have collected from other countries. Ask students to name what country the coins come from, and then research the significance of the designs and find how their ‘credit value’ differs from the Australian dollar.

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My Classroom Economy: Bringing the

My Classroom Economy: Bringing the | Teaching Monetary Exchange in the Primary Classroom | Scoop.it
While economics is considered part of the elementary social studies curriculum, textbooks and other social studies programs often neglect to incorporate economic instruction. The classroom economy can fill this void while serving as a fun way for students to act as both consumers and economists in a real world setting.  A well-run classroom economy has the ability to teach students economic principles while also serving as a behavior management system in which students are essentially responsible for themselves.
READ ON to learn about how I set up my classroom economy, watch a VIDEO of what it looks like in my classroom, and download tons of PRINTABLES that you can use to implement a classroom economy of your own!
Billy Hodgetts's insight:

The classroom economy, if pursued with vim and vigour and extended even further than this resource suggests would allow for students to get a deeper understanding of the concept that different organisations are involved with monetary trade and without all of them the economy does not work, even if one link in the chain is broken within the Stage 3 classroom. From suppliers to consumers to those than supply credit and those that collect the debt. This resource is provided by the household name Scholastic and provides the teacher with all the little extra to allow the project to be implemented. This resource could be a great piece of pedagogy to add to the teacher’s arsenal as it also intertwines with classroom management. By developing the students syntactic awareness of life situations it allows them to start to gain an understanding of the more complex buying/selling/credit/debt situations that they may be placed in as they start to more into the stages of high school and their teenage years. A great cross curricular assessment task that could be used in tandem with this activity would be to have students create ledgers which in turn align with mathematics outcomes and show understanding of money in and out and the process and relationship of different organisations involved with monetary trade.

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What Money Means in Action - a film

What Money Means in Action - a film | Teaching Monetary Exchange in the Primary Classroom | Scoop.it
The film highlights some of the lively and creative classroom practice developed through the What Money Means project and across the curriculum including PSHE, mathematics and literacy. The film may b
Billy Hodgetts's insight:

This website gives teacher’s great insight into pedagogical approaches when teaching about money in the classroom, whist being focused on pounds Stirling currency, it allows for a global idea to be honed in on and shows greatly the different organisations involved with monetary trade. This resource allows educators to see how a unit has been implemented within a classroom environment and in turn see the clear cross curricular links with both English and mathematics that can be implemented when discussing monetary exchange within the primary classroom. Not only does it discuss currency, but shows how students can critically analyse why saving is important. It gives students ideas about banks and other saving institutions.  The subsequent YouTube videos further down the page, allow teachers to gain an idea of different teaching ideas. One good video which really stuck out to me about allowing Stage 3 students to be impacted was these videos really show how students can build knowledge about the different organisations involved with interest and other types of investment maturing opportunities. The final video gives a great assessment task idea, where in students have to teach either Stage 1 or 2 students the basics of what a good saver is and the importance of looking at the big picture rather than having tunnel vision of short term gains.

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HSIE Inquiry Learning

EDSS428: Connecting Society & Environments S00107009 Reference List: Audet, R., Jordan, L. (2005). Integrating Inquiry across the curriculum. Corwin Press (U...
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