Lesson Plans
Grade 5
Components Covered: Borrowing Money & Using Credit | Production of Goods and Services | The Economy: Basics/Key Issues | Getting & Earning Money
Teaching Units: Borrowing & Returning/Repaying | Using & Caring for our Resources | Resources & Production | Communities at Work
Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided, adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.
TEACHING UNIT:
Borrowing & Returning/Repaying
Financial Literacy Component Covered: Borrowing Money & Using Credit
Language Arts
Math
Borrowing money has become common today – and many people get into financial difficulty by taking on too much debt. By starting early to learn about borrowing – the advantages, the potential problems, and the responsibilities – will be important for students.
LEARNING TARGETS:
KNOW:
Why people borrow money
What it means to borrow money
Ways in which money can be borrowed
Why there are costs to borrow money
Where you can borrow money
BE ABLE TO:
Borrow something and return it within a given time
ACTION/BEHAVIOUR:
Accept responsibility for returning something borrowed and return it
TEACHING UNIT:
Using & Caring For Our Resources
Financial Literacy Component Covered: Production of Goods & Services
Drama
Language Arts
Students need to appreciate that “everything comes from something” and that various types of resources (renewable and some non-renewable) are needed in order to produce the goods and services that people need and want in life.
LEARNING TARGETS:
KNOW:
Countries have different types, quantities, and quality of resources
Examples of natural, labour, capital, and technology resources that are available for production
All resources are limited
Some resources are renewable and some are not
Resources are combined to make goods and services that people need and want and are willing to buy
By “specializing” it is possible to produce more, and better, goods and services
Specializing leads to the need for “exchange” and “interdependence”
Needs, wants, challenges, and problems create opportunities for businesses
BE ABLE TO:
Combine resources to see how a product is produced or a service is provided
Provide examples of businesses in their community and the goods or services that they provide
Provide examples of goods or services that are provided by governments in their community
Identify an “opportunity” in their school or community – something that people need, want, or see as a problem
ACTION/BEHAVIOUR:
Consider new and better ways of combining and using resources they have
Consider the possible effect of their decisions on others and the environment
Act on an opportunity of any size when they see it – in their class, school, home, community
Work well with others to try and address an opportunity
TEACHING UNIT:
Resources & Production
Financial Literacy Component Covered: The Economy Basics/Key Issues
Social Studies
Language Arts
Resources are the basis of any economy. It is important for students to learn about the different types of resources, how they are used, how they can be used, and the importance of protecting our resources.
LEARNING TARGETS:
KNOW:
An economy’s role is to use available resources to produce and distribute products and services needed and wanted by consumers
Countries have different types, and quantities, of resources
Features of Canada’s early economy
Difference between needs and wants
Businesses are set up to combine resources to produce products and services consumers need and want and will buy
Specialization helps societies produce more and better things
Specialization leads to the need for exchange and interdependence among people, communities, and countries
Governments produce and provide some of the goods and services people need and want
BE ABLE TO:
Participate in the production of something to experience how specialization can increase and improve production
Identify key resources used in their community
Describe how resources in their community are used to produce products and services
Identify jobs that people do that help produce goods and services in their community
ACTION/BEHAVIOUR:
Consider how people in their community are different in the resources they have and what they can acquire
Look for ways to help others in their community who are in need
Think about jobs they would like to consider in the future
TEACHING UNIT:
Communities at Work
Financial Literacy Component Covered: Getting & Earning Money
Social Studies
Language Arts
It is important that children start to identify and consider a wide variety of occupations that provide an opportunity to earn money. Students need to develop good work ethics now in order to be successful at school. When they are older, it will affect their ability to earn money.
LEARNING TARGETS:
KNOW:
Ways by which people can get money
Why people get different amounts of money from different kinds of work
Things that affect how much money a person can make
How people with more money can help those with less
BE ABLE TO:
Develop skills and a good work ethic that helps them to earn income
Identify and consider a wide variety of occupations that provide an opportunity to earn money
ACTION/BEHAVIOUR:
Consider how their effort and quality of work can affect their ability to earn money
Consider situations and make judgments with an understanding that people and households have different amounts of money available for many different reasons
Appreciate things in life that do not require money
Consider opportunities there may be to assist others
Value all forms of work