Salaries, Interest, and Inflation Lesson Plan Information | Lesson Plan Activities | Printable version (including handouts) (PDF)

Standard Use Math to Solve Problems and Communicate Outcomes Students will choose between the mean, median, and mode in financial situations, and then will justify their decision. Students will compare options based on the exponential growth of money.

Classroom Information

GED Descriptors      math , social studies Roles      Family, Worker, Community Member Program Type(s)      GED, Family Literacy, Workforce Education, Urban, Rural NRS Learner Levels (ABE/GED)       5, 6 Time Frame      2.0 hours Technology Integration Inflation Data The site below offers explanations and actual figures for inflation rates over time. It also builds on inflation data with other financial concepts and data for students who are interested in exploring the topic further. Data Analysis and Probability The National Library of Virtual Manipulatives provides many exploratory tools. On this page, students can explore the "Loan Calculator" and the "Savings Calculator," for a more in-depth look at this lesson’s topics. Think Aloud Teaching Strategy Admit/Exit Slips Teaching Strategy

Keywords

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Purposeful, Transparent, Contextual, Building Expertise

Purposeful and Transparent The fact that the value of money can change over time is both intriguing and confusing to many students. This lesson starts with simple visualizations (interlocking cubes), and progresses on to critical everyday situations such as salaries, bills, interest, and inflation. Contextual This lesson centers on the concept that the value of money is constantly changing – both the money we have and the money we owe. For any member of society (presumably all the ABLE learners), this is an important topic for gaining financial understanding and, ultimately, control. Building Expertise Students will build on their simple understanding of calculating the mean, median, and mode to understanding how each of them is affected by individual data points. Moreover, they will learn to make decisions based on this understanding of central tendency. Using interlocking cubes and their understanding of central tendency, they move on to realize the power of exponential functions over time.

Lesson Designer Dan Showalter Cental Southeast ABLE Resource Center (740) 593-4419 1aslanseyes@gmail.com

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