Gale Schools - Lesson Plans - Secondary - Math

Careers

Title: Careers Lesson: Budget Analysis

Grade Level: 9

Subject/Content: Integrated/Applied Mathematics

Summary of Lesson: Through the application of math concepts, the purpose of the investigation is to examine money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations in order to develop an understanding of how these concepts apply to budgeting a lifestyle for a specific career.

Focus Question: How will an understanding of money management play an important role in evaluating the differences between luxury and necessity elements in a student's lifestyle once that student's career is chosen?

Databases(s): InfoTrac: Student Edition K12 Graphic Interface, Student Resource Center

Procedures:

Materials needed: Budgeting a Lifestyle and Goal Setting handouts, Scientific Calculator, ruler, clip board, loose leaf paper, pencils
After our general review of the prerequisites: money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations, scale measurements and dimensional analysis, students are asked to participate in the activity individually
Each person in the group will participate in the Budgeting handout activities
Students will participate in a Goal Setting activity
Students will explain answers to follow-up questions appropriately

Steps/Activities by student(s):

Anticipatory Set: Students take a free career test to find out their areas of expertise relative to a job match. Examples of this test can be found at the following websites: http://www.livecareer.com/ or http://www.assessment.com/
MAPPMembers/Welcome.asp?Accnum=06-5049-000.00
Key terms/skills: Students will review the prerequisites including these math ideas: money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations
Budgeting and Goal Setting worksheets can be duplicated by using the following information (values can be adjusted each year by using current cost of living adjustments COLA — see http://www.ssa.gov/OACT/COLA/latestCOLA.html) :
1. Budgeting a Lifestyle Selection Sheet
2. Budgeting a Lifestyle Tally Sheet — Calculate your monthly living expenses based on your choices. Total your expenses and subtract from the projected salary of your chosen career. Students will need estimation help on miscellaneous expenses from the teacher or internet
Students should view and discuss information obtained from Gale databases in order to complete this lesson:
1. InfoTrac: Student edition K-12 Graphic Interface: Keyword search "budgeting." See Budgeting personal, view 2 Encyclopedia excerpts, under Periodicals, 6 Ways to Stretch Your Paycheck (Work & Wealth) by Lena Sherrod, How to weather a financial storm (Finance.) and Save As You Go by Ylonda Gault Caviness(Essence.) Keyword search "disposable income" Mad Money by Cheryl Russell and Life 101: what every new grad needs to know about money by Dan Moreau
2. Student Resource Center: Keyword search "percent." Gale Encyclopedia of Science, "Ratio, proportion, and percent" Math & Mathematicians: The History of Math Discoveries Around the World, "Inequality" Gale Encyclopedia of Science
Modeling: Students listen to teacher describe the lesson. Students take notes. Teachers can generate the needed handout from the information provided below
Student Test for Understanding: Students will follow this list of procedures with teacher support.
1. Students participate in the Budgeting a Lifestyle Selection Sheet
2. Students participate in the Budgeting a Lifestyle Tally Sheet
3. Students complete the following:
  1. Will you be making enough to support your lifestyle?
  2. If your yearly needs exceed your projected salary, go back and change some of your lifestyle choices until they balance. If you are making more than enough, explain what you will do with you excess money (if you'd like to, you may make adjustments to your original choices here.)
  3. In an essay format, discuss the following: What did you learn regarding you salary and lifestyle choices? Give detailed explanation regarding the difference between luxury and necessity items in your essay
4. Students complete the Goal Setting Worksheet. Teachers can generate this worksheet by using the following information. Create a matrix with the title Goal #_________. Label the columns: Target Date, Total Cost, Amount Already Saved, Amount Saved Each Month. These will be the rows of the matrix — Obstacles to overcome, Step 1, Step 2, Step 3, Step 4. Create at least four of these for students to complete
Recap: What did we learn? Explain verbally the important math skills that you utilized. What are ideas/skills needed in order to budget for a career that will make you happy?
Home link: Students answer these basic questions: Why is a sounds understanding of money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations important for this lesson? What is the major significance of percentages calculated? Why would you consider this to be applied mathematics? What does math have to do with budgeting within the context of career and lifestyle choices? Why is this stuff important for you and your life?
Follow-up: Class presentation of the results. Students type a three paragraph summary in proper (Type III format — proper grammar, punctuation, spelling, 5-7 sentences per paragraph, at least ten word per sentence, no sentence starts with the same word in a paragraph.) Paragraph One explains what the lesson was about. Paragraph Two describes what the student learned. Paragraph Three explains how this applied to the individual's own current or future life. The highlights of paragraph three are verbally shared with the class by each student

Outcome: Through the application of math concepts (listed above), the students gain at least an application level understanding of money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations that exists in the context of a budgeting a lifestyle with respect to a specific career.

Related Activities: H.O.T.S. (Higher Order Thinking Skills) — Stresses Bloom's Syntheses and Evaluation levels. Students create an Individual account ledger for the amount of money in their saving and checking account for their future life (after college.) They could research how to write checks and record balance information. They could research how to apply for credit and loans. They could also research how to pay taxes. They could present all that they learned (and the math utilized during the process.)

Standard Date: October, 1998

Content Standard(s):

1.1 Understanding numbers, ways of representing numbers
1.2 Understanding the meaning of operations and how they relate to each other,
1.3 Use computational tools and strategies fluently and estimate appropriately,
2.1 Understand various types of patterns and functional relationships
2.2 Use symbolic forms to represent and analyze mathematical situations and structures
2.3 Use mathematical models and analyze change in both real and abstract contexts,
6.1 Build new mathematical knowledge through their work with problems
6.2 Develop a disposition to formulate, represent, abstract, and generalize in situations within and outside mathematics
6.3 Apply a wide variety of strategies to solve problems and adapt the strategies to new situations
6.4 Monitor and reflect on their mathematical thinking in solving problems
8.1 Organize and consolidate their mathematical thinking to communicate with others
8.2 Express mathematical ideas coherently and clearly to peers, teachers and others
8.3 Extend their mathematical knowledge by considering the thinking and strategies of others
8.4 Use the language of mathematics as a precise means of mathematical expression
9.1 recognize and use connections among different mathematical ideas
9.2 Understand how mathematical ideas build on one another to build a coherent whole
9.3 Recognize, use, and learn about mathematics in contexts outside mathematics
10.1 Create and use representations to organize, record, and communicate mathematical ideas
10.2 Develop a repertoire of mathematical representations that can be used purposefully, flexibly, and appropriately
10.3 Use representations to model and interpret physical, social and mathematical phenomena

Learning Expectation: Students will apply understanding of concepts related to money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations within the context of budgeting a lifestyle for a specific career.

Performance Indicators:

At Level 1, the student is able to:
- Write (show basic knowledge for) about the meaning of these: money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations
At Level 2, the student is able to:

Comprehend and Apply these concepts: money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations

At Level 3, the student is able to:

Synthesize new ideas related to and Evaluate concepts: money management including numerical comparisons, percentages, inequalities, fixed and variable expense calculations

Computer Literacy and Usage Standards 9-12:

Students demonstrate a sound understanding of the nature and operation of technology systems
Students are proficient in the use of technology
Students understand the ethical, cultural, and societal issues related to technology
Students practice responsible use of technology systems, information, and software
Students develop positive attitudes toward technology uses that support lifelong learning, collaboration, personal pursuits, and productivity
Students use technology tools to enhance learning, increase productivity, and promote creativity
Students use productivity tools to collaborate in constructing technology—enhanced models, prepare publications, and produce other creative works
Students use technology tools to process data and report results
Students use technology resources for solving problems and making informed decisions
Students employ technology in the development of strategies for solving problems in the real world

ISTE NETS for Students

Identify capabilities and limitations of contemporary and emerging technology resources and assess the potential of these systems and services to address personal lifelong learning, and workplace needs
Make informed choices among technology systems, resources, and services
Select and apply technology tools for research, information analysis, problem solving, and decision making in content learning
Collaborate with peers, experts, and others to contribute to a content—related knowledge base by using technology to compile, synthesize, produce, and disseminate information, models, and other creative works

Information Power; Information Literacy Standards 1-4:

The student who is information literate accesses information efficiently and effectively
The student who is information literate evaluates information critically and competently
The student who is information literate uses information accurately and creatively
The student who is an independent learner is information literate and pursues information related to personal interests
The student who is and independent learner is information literate and strives for excellence in information seeking and knowledge generation
The student who contributes positively to the learning community and to society is information literate and practices ethical behavior in regard to information and information technology