TheRoleofBanks

Author:MelodieMiller
Datecreated:03/26/201610:07AMEDTDatemodified:04/14/20165:16PMEDT

LessonTitle
Subject/TopicArea

SocialStudies

Grade/Level

Grade5

ContextforLearning

Thisclassroomhas18girlsand11boys.Theyareinthe5thgrade,ages1011.ThisclassroomisinaTitleIschooland
manystudentscomefromlowincomefamilies.ThesestudentscomefromCaucasian,AfricanAmerican,andHispanic
ethinicbackgrounds.5studentshaveIEPsand4ofthemgetresourceroomformath,languagearts,andreading.

Standards

USACommonCoreStateStandards(June2010)
Subject:EnglishLanguageArts&LiteracyinHistory/SocialStudies,Science,andTechnicalSubjects
Grade:Grade5students:
Strand:SpeakingandListening
Domain:
ComprehensionandCollaboration
Standard:
1.Engageeffectivelyinarangeofcollaborativediscussions(oneonone,ingroups,andteacherled)withdiverse
partnersongrade5topicsandtexts,buildingonothersideasandexpressingtheirownclearly.
a.Cometodiscussionsprepared,havingreadorstudiedrequiredmaterialexplicitlydrawonthatpreparationand
otherinformationknownaboutthetopictoexploreideasunderdiscussion.
b.Followagreeduponrulesfordiscussionsandcarryoutassignedroles.
c.Poseandrespondtospecificquestionsbymakingcommentsthatcontributetothediscussionandelaborateon
theremarksofothers.
d.Reviewthekeyideasexpressedanddrawconclusionsinlightofinformationandknowledgegainedfromthe
discussions.
Domain:
PresentationofKnowledgeandIdeas
Standard:
4.Reportonatopicortextorpresentanopinion,sequencingideaslogicallyandusingappropriatefactsand
relevant,descriptivedetailstosupportmainideasorthemesspeakclearlyatanunderstandablepace.

LessonObjectives

Studentswillknow:
SavingandBorrowing
RoleofBanks
Howaloanstimulateseconomicactivity
Studentswillbeableto:
Understandmultiplecausesanduseinformationtopredictlikelyeffects
Usesocialstudiesmaterialsandknowledgeasevidencetosolveproblemsandtomakeandsupportreasoned
decisions,explanations,conclusions,orpredictions
Explainthereasoningusedinmakingdecisionsorpredictions,solvingproblems,anddrawingconclusions

LessonRationale

Myclasswillunderstandthattheyarelearningtheseconceptsbecausetheywillneedtoknowaboutbankaccountsand
moneywhentheybeginworkinginsociety.

LessonEssentialQuestion(s)

Whatrolesdobanksplayinacommunity?

BeginningOfTheLesson/Orientation
InstructionalStrategies

PriortoteachingLesson1,giveeachstudentanAnticipationGuide(Handout1).Studentswillindependently
completetheanticipationguidemarkingwhethertheyAgreeorDisagreewitheachstatementundertheBefore
columnonly.Ifastudentisunsure,theycanmarkDontKnow.Collectallstudenthandoutsandsavefortheend
oftheunit.

Openingthelesson,displayforeachstudentasimulated$50bill.Presentstudentswiththefollowingidea:

Yourparentjustgaveyoua$50billforyourbirthday.Visualizewhatyoucoulddowiththe$50.Shareyouridea
withapartner.

Nowyourparentmakesyouput$50inanaccountatthebank.Ifyouhadyourchoice,whatwouldyoudecide
todowiththemoneybesidesputtingitinthebank?

Givestudentstimetorespondandsharetheirideaswiththeclass.Constructachartofclassdataaseachchild
shareshis/herresponse.Createcategoriesforthechartbasedontheresponses.

Forexample,ifthestudentresponds,Iwillbuyabike,theteacherwilladdthecategoryspendingontothe
datatothechart.

Page 1 of 3

Ifstudentsgiveresponsesaboutsaving,dividethecategoriesintosavingathomeandsavingatthebank.
Thiswillbeimportantlaterwhendistinguishingbetweenthebenefitsofsavingathomeandthebank.

Teachersshouldlookforideasleaningtowardstheconceptsofspending(i.e.bikes,clothes),saving(i.e.drawer,
piggybank,purse),andinvesting.Studentstypicallywillnotcomeupwiththeideasofinvestinghowever,you
caninformthemthatadultsmaychoosethisoption(i.e.stockmarket,retirementaccount)andaddthis
categorytothechart.

Havethestudentsanalyzethechartanddrawconclusions.Discusstheideathatsomestudentschooseto
spendandotherschoosetosavetheirmoneyathome.

Referbacktotheoriginalscenarioandaskstudents,Whatarethebenefitsofputtingyourmoneyin
thebank?

Thefollowingideasshouldbeaddressedthroughoutthediscussion:
safety
interest
FormativeAssessment
(ongoing)

Duringthediscussion,listenforstudentresponses.Manystudentsmaywanttospendtheirmoneywhileothersmay
choosetosave.Listentotheirresponsestothequestion,"Whatarethebenefitsofputtingyourmoneyinthebank?"

TimeFrame

15minutes

Assessment/Rubrics

PresentationOfTheLesson
InstructionalStrategies

GiveeachstudentacopyofHandout2:BanksandYourMoney.Instructstudentstocutoutthecardsand
sequencethemtoshowwhathappenstomoneywhenyouputitintothebank.
Instructstudentstodiscusstheirsequencewithapartnerortablegroup.Havestudentssharetheirthoughtson
thesequenceoftheircards.

Withateachersetofcards,walkstudentsthroughthecorrectsequenceusingtheteachercopyonpage2of
Handout2asareferenceforthesequence.
Studentsshouldpastetheircardsinorderonaseparatesheetofpaperorintheirnotebooks.
Placethecardsinthecorrectsequenceontheboard.UseBankingVocabularyonpage3ofHandout2asa
resourceforvocabularytermswhileyouexplaintheprocessoneachcard.

UsingCardAexplainthefollowing:
Youreceivemoneyforyourbirthday.

UsingCardBexplainthefollowing:
Afteryoureceiveyourmoneyforyourbirthday,yourparentswantyoutokeepitinasafeplaceinabank
account.

ExplaintostudentsthedefinitionofbankaccountfromHandout2.Havestudentswritethewordsbank
accountontheirpaper.
Explaintostudentsthatputtingmoneyintoabankaccountiscalleddepositingandsharethedefinitionofthe
word.Addtheworddeposittothecardwithanarrowrepresentingtheaction.

UsingCardCexplainthefollowing:
Whenmoneyisinyourbankaccountitaccumulatesinterest.Explaintostudentsthedefinitionoftheword
interestaccordingtothedefinitionfromHandout2.Instructstudentstoaddtheterminteresttotheircardas
shownbelow.

UsingCardDexplainthefollowing:
Yourmoneyisnowaccumulatinginterestinthebank.Youmakeadecisiontospendsomeofyourmoney.You
mustfirstwithdrawthemoneyfromyourbankaccount.Explaintostudentsthedefinitionofwithdrawal.Add
anarrowtothecardandthewordwithdrawal.

Afterwithdrawingmoneyfromyouraccount,youwanttospendthemoneyattheshopbuyingwhatyoulike.
Sharewiththestudentsthedefinitionofthewordspend.Addthewordspendtothecardwithanarrow
representation.

Page 2 of 3

FormativeAssessment
(ongoing)

Havestudentsreflectbacktotheoriginalscenario:

Yourparentjustgaveyoua$50billforyourbirthday.Yourparentsmakeyouput$50inanaccountatthe
bank.

Ifyouhadyourchoice,wouldyoudecidetoputallofyourmoneyinthebanklikeyourparentssuggested,or
wouldyouchoosesomethingelse?Explainyourchoice.
TimeFrame

20minutes

Practice:
InstructionalStrategies

Whenthestudentsenterclass,theywillhaveacupwith6Skittlesontheirdesk.Thestudentswillbetoldthat
thisistheirSkittleSavingsAccount.

Referbacktopreviousstrategiesaskingstudents,Whatcanyoudowithyourmoney?Studentsshould
respondthattheycouldspendorsavetheirmoney.

Next,discusswhathappenswhenpeoplesavemoneyinabank.Thestudentsshouldstatethatthemoney
wouldearninterest.ReferbacktoCardCfromearlier.

Explainthesimulationtostudents.
Todayyouwereeachgiven6Skittlestostartabackaccount.Therewillbefivesavingsperiodthroughoutthe
day.Eachoftheseperiodswillcoincidewithamonthstime.Duringeachperiod,youwillhavetheoptiontoeat
yourSkittlesorsavethem.Attheendofeachmonth,youwillbegiveninterestbasedonthenumberofSkittles
inyourcup.Thisishowabankoperates.Attheendofeachmonththeyawardinterestbasedontheamountof
moneyinyouraccount.

ModelforthestudentshowtocompleteHandout3,theSkittleBankAccountLogafterperiod1.Afterstudents
havecompletedthelog,distributeSkittlestoeachstudentaccordingtotheirSkittlebalance.Youwillrepeatthe
sameprocessforeachperiod.Attheendofthelesson,havegroupsofstudentssharetheirlogswitheach
other.
FormativeAssessment
(ongoing)

Asthedaygoeson,monitorstudentcupstoseehowtheyareeither"saving"or"spending"theirSkittles.Ifmany
studentsare"saving"toearninterest,theyarelearningthebenefitsofsavingandearninginterest.

TimeFrame

1day

ClosureAndSummarizing:
InstructionalStrategies

Debriefwiththefollowingquestions:
*WhohadthemostSkittles?WhohadtheleastamountofSkittles?
*WhydidsomepeoplehavemanySkittlesandothershaveveryfewSkittles?
*Whywouldabankpayyoumoneytoholdyourmoneyforyou?

SummativeAssessment
TimeFrame

7minutes

AnalysisOfData,Reflections/Adaptations
Analysis

MaterialsNeededForTheLesson
Materials

Handout1(AnticipationGuide)
Handout2(BanksandYourMoney)
Handout3(SkittlesLog)

Attachments:
1. ReasonsForBanks(Final).notebook

References

Page 3 of 3