Lesson Plans
Grade 9
Components Covered: Economic Citizenship | Spending & Saving Money | Money & Decision-Making | Getting & Earning Money | The Economy: The Basics/Key Issues
Teaching Units: Building the Future | Major Purchases & Saving for the Future | Money in the Economy | Planning for Life | The Big Picture, How the Economy Works
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.
Resource Map:
**Draft** Grade 9 Mathematics
Course 1 & 2, Strand E
To help support the Grade 9 Mathematics course, the Canadian Foundation for Economic Education has developed a full Resource Map for Strand E of both courses at the grade 9 level. This Resource Map looks at all Outcomes and Manifestations of the course and identifies a collection of free programs and resources available from CFEE that can be used to effectively support in-class instruction.
TEACHING UNIT:
Building the Future
Financial Literacy Component Covered: Economic Citizenship
Social Studies
Language Arts
Students need to understand the factors that affect Canada’s ability to achieve its economic goals. They should be able to make informed assessments and judgements of the actions and initiatives undertaken, or proposed by, governments and other groups in our society.
LEARNING TARGETS:
KNOW:
Possible goals for the economy
How various factors can affect growth, employment, incomes, and quality of life in the economy
How the decisions and actions of individuals, organizations, business, and governments can affect productivity, innovation, employment, inflation, incomes, and growth in the economy as well as the environment
Factors that can affect the distribution of income
How government policies and actions can affect the distribution of income
Compare environmental conditions, and efforts to improve the environment, in various countries
Different views on the role of government in the economy
BE ABLE TO:
Discuss factors that can affect the nation’s ability to achieve its economic goals
Compare and assess different economic policies and priorities implemented or proposed by government and other political parties
Consider and assess economic activity as potentially helpful or harmful to the environment
Identify taxes paid to different levels of government
ACTION/BEHAVIOUR:
Make informed assessments and judgements, of government actions and political alternatives
Act in a manner respectful, and helpful, to the environment
Have a sense of compassion for the needs and circumstances of others
Complete a tax return and pay their fair share of taxes
TEACHING UNIT:
Major Purchases & Saving For the Future
Financial Literacy Component Covered: Spending & Saving Money
Social Studies
Math
Language Arts
Students can encounter some major financial decisions quite early in life – e.g., cellphones, paying for education. Taking steps to make a good decision is important. Knowing ways to save for the future is also important.
LEARNING TARGETS:
KNOW:
Needs and wants are sometimes difficult to tell apart
Some spending decisions have greater consequences than others
Spending and saving decisions can be helped with a budget
Various factors can affect the prices of what we need and want
Legal documents and contracts should be reviewed carefully
A goal of saving is to increase future purchasing power
Factors that affect savings (e.g., inflation, fees)
Impact of compound interest
Different factors can influence saving and spending decisions at different times of one’s life – the “life cycle”
BE ABLE TO:
Consider whether they “need” or “want” a product or service
Compare advantages and disadvantages – costs and benefits – in making consumer decisions
Track expenses and know how much they can afford
Save for a specific purchase or goal
Try and increase the value of money saved
Calculate how much will be needed, and how to save, for their future education or training
ACTION/BEHAVIOUR:
Compare costs and benefits when making a purchase with the price being paid
Make saving and spending decisions to live within their means
Make thoughtful, informed, consumer decisions
Review legal documents and contracts carefully
Make saving and spending decisions considering the possible impact on others and the environment
TEACHING UNIT:
money in the Economy
Financial Literacy Component Covered: Money & Decision Making
Career Development
Language Arts
To help with financial decisions, there are some important things to know about money in the economy – who controls it, how it affects inflation, interest rates, and more.
LEARNING TARGETS:
KNOW:
Different countries use different kinds of money
What determines the amount of money in the economy
How the amount of money in our economy is controlled
Why people wouldn’t be better off if we printed more money and gave it to all
The effect inflation can have on the value (purchasing power) of money
Money will help in achieving some life goals – but not all
Ways money can be used to increase the value of, and improve, things – including skills and abilities
Incentives that can affect money decisions and actions
BE ABLE TO:
Describe how the central bank can influence interest rates and the amount of money in the economy
Protect the value of money from inflation
Recognize signs that prices and interest rates may be rising
Recognize ways money can cause stress and tension
Recognize ways money can help others in need
ACTION/BEHAVIOUR:
Consider the impact of inflation on money decisions
Have a sense of personal responsibility when making decisions and how their decisions may impact others
Verify sources and quality of information that can affect their financial decisions and actions
TEACHING UNIT:
Planning for life
Financial Literacy Component Covered: Getting & Earning Morning
Career Development
Language Arts
Students need to think about their future. Considering their strengths and interests will help them to develop a career plan. Then they will be able to explore possible career choices that are suitable for them.
LEARNING TARGETS:
KNOW:
A balanced life means considering things other than money that are important
Compare life goals requiring money with others that do not
The components of a career plan
Occupations that are of personal interest
Education and training needed for occupations of interest
Estimate costs of post secondary education and training
Sources of funding assistance for post-secondary education
Factors affecting standard of living and quality of life
The risks of trying to “make a fast buck” or “get rich quick”
BE ABLE TO:
Set career goals and develop a career plan
Develop a sense of passion for what they like to do – and would like to do
Select post secondary education and training programs that align with their interests
Identify sources of funding to help with post secondary education and training
Find ways to assist others if they are able to do so
ACTION/BEHAVIOUR:
Align education, career, and work with their personal passion
Find ways to invest in themselves to improve their ability to achieve their goals
Live a balanced life considering both monetary and non-monetary goals and priorities
Consider careers that can contribute toward sustainability
Avoid gambling problems and addiction
TEACHING UNIT:
The Big Picture, How the Economy WOrks
Financial Literacy Component Covered: The Economy: The Basics/Key Issues
Social Studies
Language Arts
By understanding the basics of economic systems, students will be better able to see the importance of their actions as active members of their society and responsible, financially capable individuals. They will be better able to interpret the economic world around them – and make better decisions.
LEARNING TARGETS:
KNOW:
How, in general, an economy works to produce and distribute products and services
Different types of economic systems
Key features of Canada’s mixed economy
The business cycle – why it occurs and conditions at various points in the cycle
Statistics used to assess how an economy is performing – including trade performance and success
Factors that affect growth, inflation, employment, productivity, and trade success in the economy
Various ways in which economies are linked together
Issues that can arise from globalization
Current issues in Canada’s economy
BE ABLE TO:
Form opinions on the direction an economy may be headed, whether interest rates may be more likely to rise or fall in the near future, and when inflation may pose more of a risk
Generate ideas for improving personal productivity
Debate, discuss, and evaluate economic policies and actions proposed by the government and different political parties
ACTION/BEHAVIOUR:
Make informed consumer decisions based on an understanding of inflation and interest rates
Assess the policies of different political parties that could affect the economy and production of goods and services
Make informed political decisions when presented with economic policy options