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Instructional Focus Document
Grade 1 Mathematics
TITLE : Unit 16: Personal Financial Literacy SUGGESTED DURATION : 5 days

Unit Overview

Introduction
This unit bundles student expectations that address defining money earned as income, identifying income as a means of obtaining goods and services, distinguishing between wants and needs and between spending and saving, and considering charitable giving. According to the Texas Education Agency, mathematical process standards including application, a problem-solving model, and justifications should be integrated (when applicable) with content knowledge and skills so that students are prepared to use mathematics in everyday life, society, and the workplace.

Prior to this Unit
In Kindergarten, students identified ways to earn income and differentiated between money received as income and money received as gifts. Students distinguished between wants and needs and identified income as a source to meet one’s wants and needs. Students also listed simple skills required for jobs.

During this Unit
Students focus on defining money earned as income and identify income as a means of obtaining goods and services. Students distinguish between goods and services and between wants and needs as they explore the need to often make choices between spending income on wants versus needs. Spending, saving, and charitable giving are explored as possible options for spending income earned. Although the student expectations related to Personal Financial Literacy in Mathematics are similar to the student expectations related to Economics in Social Studies, they do not replace each other, rather they complement each other.

After this Unit
In Grade 2, students will explore saving as an alternative to spending. Students will identify examples of borrowing and lending and evaluate borrowing and lending decisions. Students will distinguish between a deposit and a withdrawal and calculate how money saved can accumulate over time. Students will also differentiate between producers and consumers and calculate the cost to produce a simple item.

Additional Notes
In Grade 1, defining money earned as income, identifying income as a means of obtaining goods and services, distinguishing between wants and needs and between spending and saving, and considering charitable giving are included in the Grade 1 Texas Response to Curriculum Focal Points (TxRCFP): Financial Literacy. This unit is supporting the development of the Texas College and Career Readiness Standards (TxCCRS): IX. Communication and Representation and X. Connections.

Research
In 2008, President George W. Bush created a President’s Advisory Council on Financial Literacy. That council, in their report to the president, recommended improving financial literacy in Grades Pre-school through 12 by mandating financial education in all schools for all students. The council defined financial literacy as "the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being" (p. 9). The Consumer Financial Protection Bureau (2013) states, “It is important to consider options to expand the opportunity for kids to build the skills that they will need throughout their lives for financial decision-making early and continuously during the K-12 years” (p. 24).

 

Consumer Financial Protection Bureau (2013). Navigating the market: A comparison of spending on financial education and financial marketing. Retrieved from http://files.consumerfinance.gov/f/201311_cfpb_navigating-the-market-final.pdf
President’s Advisory Council on Financial Literacy (2008). President Bush announces President's Advisory Council on financial literacy. Retrieved from http://georgewbush-whitehouse.archives.gov/news/releases/2008/01/20080122-7.html
Texas Education Agency & Texas Higher Education Coordinating Board. (2009). Texas college and career readiness standards. Retrieved from http://www.thecb.state.tx.us/index.cfm?objectid=E21AB9B0-2633-11E8-BC500050560100A9
Texas Education Agency. (2013). Texas response to curriculum focal points for kindergarten through grade 8 mathematics. Retrieved from https://www.texasgateway.org/resource/txrcfp-texas-response-curriculum-focal-points-k-8-mathematics-revised-2013


  • Financial and economic knowledge leads to informed and rational decisions allowing for effective management of financial resources when planning for a lifetime of financial security. 
    • Why is financial stability important in everyday life?
    • What economic and financial knowledge is critical for planning for a lifetime of financial security?
    • How can mapping one’s financial future lead to significant short and long-term benefits?
    • How can current financial and economic factors in everyday life impact daily decisions and future opportunities?
Unit Understandings
and Questions
Overarching Concepts
and Unit Concepts
Performance Assessment(s)
  • Understanding income, spending, saving, and charitable giving aids in making informed financial management decisions, which promotes a more secured financial future.
    • What is income?
    • What are some examples of ways to earn income in the home, school, and community?
    • What are …
      • goods?
      • services?
      • wants?
      • needs?
    • How are …
      • goods and services
      • wants and needs
      … alike and different?
    • How can someone obtain goods and services?
    • What decisions and choices should be considered …
      • when spending on goods and services?
      • related to charitable giving?
    • What is the difference between spending and saving?
  • Personal Financial Literacy
    • Charitable Giving
    • Goods and Services
    • Income
    • Money
    • Saving
    • Spending
    • Wants and Needs
  • Associated Mathematical Processes
    • Application
    • Problem Solving Model
    • Justification
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

MISCONCEPTIONS / UNDERDEVELOPED CONCEPTS

Misconceptions:

  • Some students may think income is only earned through working at a job rather than recognizing income from sources such as the sale of goods/services.
  • Some students may think an organization can only provide goods or services rather than realizing some organizations provide both.
  • Some students may think the terms “goods and services” describes one idea rather than distinguishing between goods and services.

Underdeveloped Concepts:

  • Some students may struggle differentiating between wants and needs.

Unit Vocabulary

  • Charitable giving – donating to an organization that collects money, goods, or services to groups in need
  • Charity – an organization that collects money, goods, or services for groups in need
  • Donating – giving money, goods, or services to a charitable organization
  • Goods – physical products that can be touched and felt
  • Income – money earned
  • Job – work performed to complete a task, usually for money
  • Needs – things that are necessary for life
  • Purchasing – to acquire goods or services through the payment of money
  • Saving – setting aside money earned or received for future use
  • Services – tasks or work provided by people for other people
  • Spending – purchasing goods and services to satisfy wants and needs
  • Wants – things you wish for but are not necessary for life

Related Vocabulary:

  • Career
  • Earn
  • Money
  • Work
System Resources Other Resources

System Resources may be accessed through Search All Components in the District Resources Tab.

Texas Higher Education Coordinating Board – Texas College and Career Readiness Standards

 

Texas Education Agency – Texas Response to Curriculum Focal Points for K-8 Mathematics Revised 2013

 

Texas Education Agency – Mathematics Curriculum

 

Texas Education Agency – STAAR Mathematics Resources

 

Texas Education Agency Texas Gateway – Revised Mathematics TEKS: Vertical Alignment Charts

 

Texas Education Agency Texas Gateway – Mathematics TEKS: Supporting Information

 

Texas Education Agency Texas Gateway – Interactive Mathematics Glossary

 

Texas Education Agency Texas Gateway – Resources Aligned to Grade 1 Mathematics TEKS


TEKS# SE# Unit Level Taught Directly TEKS Unit Level Specificity
 

Legend:

  • Knowledge and Skills Statements (TEKS) identified by TEA are in italicized, bolded, black text.
  • Student Expectations (TEKS) identified by TEA are in bolded, black text.
  • Portions of the Student Expectations (TEKS) that are not included in this unit but are taught in previous or future units are indicated by a strike-through.

Legend:

  • Supporting information / clarifications (specificity) written by TEKS Resource System are in blue text.
  • Unit-specific clarifications are in italicized, blue text.
  • Information from Texas Education Agency (TEA), Texas College and Career Readiness Standards (TxCCRS), Texas Response to Curriculum Focal Points (TxRCFP) is labeled.
1.1 Mathematical process standards. The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:
1.1A Apply mathematics to problems arising in everyday life, society, and the workplace.

Apply

MATHEMATICS TO PROBLEMS ARISING IN EVERYDAY LIFE, SOCIETY, AND THE WORKPLACE

Including, but not limited to:

  • Mathematical problem situations within and between disciplines
    • Everyday life
    • Society
    • Workplace

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Developing an understanding of place value
    • Solving problems involving addition and subtraction
    • Analyzing attributes of two-dimensional shapes and three-dimensional solids
    • Developing the understanding of length
  • TxCCRS:
    • X. Connections
1.1B Use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution.

Use

A PROBLEM-SOLVING MODEL THAT INCORPORATES ANALYZING GIVEN INFORMATION, FORMULATING A PLAN OR STRATEGY, DETERMINING A SOLUTION, JUSTIFYING THE SOLUTION, AND EVALUATING THE PROBLEM-SOLVING PROCESS AND THE REASONABLENESS OF THE SOLUTION

Including, but not limited to:

  • Problem-solving model
    • Analyze given information
    • Formulate a plan or strategy
    • Determine a solution
    • Justify the solution
    • Evaluate the problem-solving process and the reasonableness of the solution

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Developing an understanding of place value
    • Solving problems involving addition and subtraction
    • Analyzing attributes of two-dimensional shapes and three-dimensional solids
    • Developing the understanding of length
  • TxCCRS:
    • VIII. Problem Solving and Reasoning
1.1G Display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication.

Display, Explain, Justify

MATHEMATICAL IDEAS AND ARGUMENTS USING PRECISE MATHEMATICAL LANGUAGE IN WRITTEN OR ORAL COMMUNICATION

Including, but not limited to:

  • Mathematical ideas and arguments
    • Validation of conclusions
      • Displays to make work visible to others
        • Diagrams, visual aids, written work, etc.
      • Explanations and justifications
        • Precise mathematical language in written or oral communication

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Developing an understanding of place value
    • Solving problems involving addition and subtraction
    • Analyzing attributes of two-dimensional shapes and three-dimensional solids
    • Developing the understanding of length
  • TxCCRS:
    • IX. Communication and Representation
1.9 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:
1.9A Define money earned as income.

Define

MONEY EARNED AS INCOME

Including, but not limited to:

  • Income – money earned
  • Ways to earn income
    • Job – work performed to complete a task, usually for money
    • Jobs are available in the home, school, and community.
      • Jobs for adults
      • Jobs for children
    • Sale of goods or property

Note(s):

  • Grade Level(s):
    • Kindergarten identified ways to earn income.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
1.9B Identify income as a means of obtaining goods and services, oftentimes making choices between wants and needs.

Identify

INCOME AS A MEANS OF OBTAINING GOODS AND SERVICES, OFTENTIMES MAKING CHOICES BETWEEN WANTS AND NEEDS

Including, but not limited to:

  • Income – money earned
  • Income may be used to obtain goods and services.
    • Purchasing – to acquire goods or services through the payment of money
    • Goods – physical products that can be touched and felt
    • Services – tasks or work provided by people for other people
  • Amount of income earned may require making choices between purchasing wants and needs.
    • Wants – things you wish for but are not necessary for life
    • Needs – things that are necessary for life
    • Choices are required when the costs of wants and needs are greater than income.
      • Purchases of needs should be met first.
      • Purchases of wants should be based on remaining extra income.
      • Purchases of wants may need to wait until more income is earned.

Note(s):

  • Grade Level(s):
    • Kindergarten distinguished between wants and needs and identified income as a source to meet one's wants and needs.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
1.9C Distinguish between spending and saving.

Distinguish

BETWEEN SPENDING AND SAVING

Including, but not limited to:

  • Money earned may be spent or saved.
    • Spending – purchasing goods and services to satisfy wants and needs
      • Spending results in a decrease in the amount of money you have.
    • Saving – setting aside money earned or received for future use
      • Saving results in no decrease in the amount of money you have.
      • Saving may result in an increase in the amount of money you have.
      • Money may be saved in a bank account, piggy bank, etc.
  • Distinguish between spending and saving in real-world problem situations.

Note(s):

  • Grade Level(s):
    • Grade 1 introduces distinguishing between spending and saving.
    • Grade 2 will calculate how money saved can accumulate into a larger amount over time.
    • Grade 3 will list reasons to save and explain the benefit of a savings plan, including for college.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
1.9D Consider charitable giving.

Consider

CHARITABLE GIVING

Including, but not limited to:

  • Money earned may be donated to charity.
    • Charity – an organization that collects money, goods, or services for groups in need
    • Charitable giving – donating to an organization that collects money, goods, or services to groups in need
    • Donating – giving money, goods, or services to a charitable organization
      • Donating money earned to charity
      • Donating goods or property to charity without receiving money in exchange
      • Donating services or volunteering time to charity without receiving income in exchange
  • Reasons for charitable giving
    • Helping others who are not able to meet their needs
    • Feeling good about oneself

Note(s):

  • Grade Level(s):
    • Grade 1 introduces considering charitable giving.
    • Grade 3 will identify decisions involving income, spending, saving, credit, and charitable giving.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
The English Language Proficiency Standards (ELPS), as required by 19 Texas Administrative Code, Chapter 74, Subchapter A, §74.4, outline English language proficiency level descriptors and student expectations for English language learners (ELLs). School districts are required to implement ELPS as an integral part of each subject in the required curriculum.

School districts shall provide instruction in the knowledge and skills of the foundation and enrichment curriculum in a manner that is linguistically accommodated commensurate with the student’s levels of English language proficiency to ensure that the student learns the knowledge and skills in the required curriculum.


School districts shall provide content-based instruction including the cross-curricular second language acquisition essential knowledge and skills in subsection (c) of the ELPS in a manner that is linguistically accommodated to help the student acquire English language proficiency.

http://ritter.tea.state.tx.us/rules/tac/chapter074/ch074a.html#74.4 


Choose appropriate ELPS to support instruction.

ELPS# Subsection C: Cross-curricular second language acquisition essential knowledge and skills.
Click here to collapse or expand this section.
ELPS.c.1 The ELL uses language learning strategies to develop an awareness of his or her own learning processes in all content areas. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.1A use prior knowledge and experiences to understand meanings in English
ELPS.c.1B monitor oral and written language production and employ self-corrective techniques or other resources
ELPS.c.1C use strategic learning techniques such as concept mapping, drawing, memorizing, comparing, contrasting, and reviewing to acquire basic and grade-level vocabulary
ELPS.c.1D speak using learning strategies such as requesting assistance, employing non-verbal cues, and using synonyms and circumlocution (conveying ideas by defining or describing when exact English words are not known)
ELPS.c.1E internalize new basic and academic language by using and reusing it in meaningful ways in speaking and writing activities that build concept and language attainment
ELPS.c.1F use accessible language and learn new and essential language in the process
ELPS.c.1G demonstrate an increasing ability to distinguish between formal and informal English and an increasing knowledge of when to use each one commensurate with grade-level learning expectations
ELPS.c.1H develop and expand repertoire of learning strategies such as reasoning inductively or deductively, looking for patterns in language, and analyzing sayings and expressions commensurate with grade-level learning expectations.
ELPS.c.2 The ELL listens to a variety of speakers including teachers, peers, and electronic media to gain an increasing level of comprehension of newly acquired language in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in listening. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.2A distinguish sounds and intonation patterns of English with increasing ease
ELPS.c.2B recognize elements of the English sound system in newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters
ELPS.c.2C learn new language structures, expressions, and basic and academic vocabulary heard during classroom instruction and interactions
ELPS.c.2D monitor understanding of spoken language during classroom instruction and interactions and seek clarification as needed
ELPS.c.2E use visual, contextual, and linguistic support to enhance and confirm understanding of increasingly complex and elaborated spoken language
ELPS.c.2F listen to and derive meaning from a variety of media such as audio tape, video, DVD, and CD ROM to build and reinforce concept and language attainment
ELPS.c.2G understand the general meaning, main points, and important details of spoken language ranging from situations in which topics, language, and contexts are familiar to unfamiliar
ELPS.c.2H understand implicit ideas and information in increasingly complex spoken language commensurate with grade-level learning expectations
ELPS.c.2I demonstrate listening comprehension of increasingly complex spoken English by following directions, retelling or summarizing spoken messages, responding to questions and requests, collaborating with peers, and taking notes commensurate with content and grade-level needs.
ELPS.c.3 The ELL speaks in a variety of modes for a variety of purposes with an awareness of different language registers (formal/informal) using vocabulary with increasing fluency and accuracy in language arts and all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in speaking. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.3A practice producing sounds of newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters to pronounce English words in a manner that is increasingly comprehensible
ELPS.c.3B expand and internalize initial English vocabulary by learning and using high-frequency English words necessary for identifying and describing people, places, and objects, by retelling simple stories and basic information represented or supported by pictures, and by learning and using routine language needed for classroom communication
ELPS.c.3C speak using a variety of grammatical structures, sentence lengths, sentence types, and connecting words with increasing accuracy and ease as more English is acquired
ELPS.c.3D speak using grade-level content area vocabulary in context to internalize new English words and build academic language proficiency
ELPS.c.3E share information in cooperative learning interactions
ELPS.c.3F ask and give information ranging from using a very limited bank of high-frequency, high-need, concrete vocabulary, including key words and expressions needed for basic communication in academic and social contexts, to using abstract and content-based vocabulary during extended speaking assignments
ELPS.c.3G express opinions, ideas, and feelings ranging from communicating single words and short phrases to participating in extended discussions on a variety of social and grade-appropriate academic topics
ELPS.c.3H narrate, describe, and explain with increasing specificity and detail as more English is acquired
ELPS.c.3I adapt spoken language appropriately for formal and informal purposes
ELPS.c.3J respond orally to information presented in a wide variety of print, electronic, audio, and visual media to build and reinforce concept and language attainment.
ELPS.c.4 The ELL reads a variety of texts for a variety of purposes with an increasing level of comprehension in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in reading. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations apply to text read aloud for students not yet at the stage of decoding written text. The student is expected to:
ELPS.c.4A learn relationships between sounds and letters of the English language and decode (sound out) words using a combination of skills such as recognizing sound-letter relationships and identifying cognates, affixes, roots, and base words
ELPS.c.4B recognize directionality of English reading such as left to right and top to bottom
ELPS.c.4C develop basic sight vocabulary, derive meaning of environmental print, and comprehend English vocabulary and language structures used routinely in written classroom materials
ELPS.c.4D use prereading supports such as graphic organizers, illustrations, and pretaught topic-related vocabulary and other prereading activities to enhance comprehension of written text
ELPS.c.4E read linguistically accommodated content area material with a decreasing need for linguistic accommodations as more English is learned
ELPS.c.4F use visual and contextual support and support from peers and teachers to read grade-appropriate content area text, enhance and confirm understanding, and develop vocabulary, grasp of language structures, and background knowledge needed to comprehend increasingly challenging language
ELPS.c.4G demonstrate comprehension of increasingly complex English by participating in shared reading, retelling or summarizing material, responding to questions, and taking notes commensurate with content area and grade level needs
ELPS.c.4H read silently with increasing ease and comprehension for longer periods
ELPS.c.4I demonstrate English comprehension and expand reading skills by employing basic reading skills such as demonstrating understanding of supporting ideas and details in text and graphic sources, summarizing text, and distinguishing main ideas from details commensurate with content area needs
ELPS.c.4J demonstrate English comprehension and expand reading skills by employing inferential skills such as predicting, making connections between ideas, drawing inferences and conclusions from text and graphic sources, and finding supporting text evidence commensurate with content area needs
ELPS.c.4K demonstrate English comprehension and expand reading skills by employing analytical skills such as evaluating written information and performing critical analyses commensurate with content area and grade-level needs.
ELPS.c.5 The ELL writes in a variety of forms with increasing accuracy to effectively address a specific purpose and audience in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in writing. In order for the ELL to meet grade-level learning expectations across foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations do not apply until the student has reached the stage of generating original written text using a standard writing system. The student is expected to:
ELPS.c.5A learn relationships between sounds and letters of the English language to represent sounds when writing in English
ELPS.c.5B write using newly acquired basic vocabulary and content-based grade-level vocabulary
ELPS.c.5C spell familiar English words with increasing accuracy, and employ English spelling patterns and rules with increasing accuracy as more English is acquired
ELPS.c.5D edit writing for standard grammar and usage, including subject-verb agreement, pronoun agreement, and appropriate verb tenses commensurate with grade-level expectations as more English is acquired
ELPS.c.5E employ increasingly complex grammatical structures in content area writing commensurate with grade-level expectations, such as:
ELPS.c.5F write using a variety of grade-appropriate sentence lengths, patterns, and connecting words to combine phrases, clauses, and sentences in increasingly accurate ways as more English is acquired
ELPS.c.5G narrate, describe, and explain with increasing specificity and detail to fulfill content area writing needs as more English is acquired.
Last Updated 08/01/2018
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