Summary of Lesson Plan:
This Unit provides students with the opportunity to develop money skills through a real world learning context. These lessons were designed for year 7/8 classes, have been tested and worked well with high student engagement.
Australian Curriculum Links:
Year 7 Mathematics
- Compare, order, add and subtract integers (ACMNA280)
- Multiply and divide fractions and decimals using efficient written strategies and digital technologies (ACMNA154)
- Find percentages of quantities and express one quantity as a percentage of another, with and without digital technologies. (ACMNA158)
Money and financial mathematics
- Investigate and calculate ‘best buys’, with and without digital technologies (ACMNA174)
Year 8 Mathematics
- Carry out the four operations with rational numbers and integers, using efficient mental and written strategies and appropriate digital technologies (ACMNA183)
Money and financial mathematics
- Solve problems involving profit and loss, with and without digital technologies (ACMNA189)
Lesson Plan Sequence:
- Throughout the Unit students will be provided with a series of activities. These are to be completed in class time and for homework. Teachers guide students through on a lesson by lesson basis.
- In this Unit, students will run a food business and sell items during a lunch time. Profits will go to a Christmas Appeal or other charity. Calculations will need to be completed using the provided spreadsheet.
Inform students that they need to work through the following steps:
- You need to form a company with two or three other students in your class. Your teacher will decide how groups are formed. Choose a name for your business with your group and write their names on the spreadsheet.
- Choose a recipe and bring it to school.
- As a group you will choose one person’s recipe to make and decide how to obtain the ingredients. List group member responsibilities for these.
- Record the quantities and cost for each ingredient from your recipe into the spreadsheet table
- Work out a price to charge to make a 20% profit using the spreadsheet (all takings to charity)
- Make the recipe at home and bring it to school on the day of the stall.
- On the stall day, record how many of your items were sold by counting how many are left at the end of lunch. Show this calculation by entering the suitable formula onto the spreadsheet where indicated to show Total Income (Gross Profit).
- How much actual (Net) profit or loss did you make? Insert formula.
- How much actual (Net) profit or loss did the whole class make? Insert formula.
- On the day of the stall, a representative of “Good Tucker” sampled the foods and wishes to use a number of them in their new range of sweet products. “Good Tucker” only makes items in batches of 10,000. Calculate the quantities for the production of your food item (assuming it was chosen).
- “Good Tucker” makes 60% profit on all items they sell. Calculate the cost necessary per item to make this profit.
- Changes to the Market: Due to the Hoop Snake Crisis in Australia’s farming communities, the following increase in the cost of basic items has occurred: Sugar up by 18%, Flour up by 22.5%. Calculate your costs for your item now.
- “Good Tucker” Foods survives this hardship and grows to establish factories in four other States. In their original Queensland factory, they employ 1,643 workers who earn $9.34 per hour and work full time. What is “Good Tucker’s” wage bill per 40 hour week in Queensland?
- Each of the new factories employs 840 workers. What will the wage bill be for each factory per week?
- Class discussion about what students learnt from this experience.
- What other questions might arise?
- Accuracy of the spreadsheet formulas.
- Anecdotal notes of students recorded during observation, discussion and activities.
View and download all of the lesson-related resources below:
- Sweet Stall Money – Student Spreadsheet (XLSX)
- Sweet Stall Money – Sample Answer Worksheet (XLSX)
- Whiteboard markers
- Smartboard or projector
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