Lesson4 ppt (p3)

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Lesson4 ppt (p3)

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Lesson4 ppt (p3)

  1. 1. Tuning In! © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  2. 2. A poem:A poem: Toys For Me!Toys For Me! © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  3. 3. A poem:A poem: Toys For Me!Toys For Me! Teacher: Read words in black Students: Read words in red © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  4. 4. On my birthday I asked My Mother to buy This baby doll that burps AND that wooden bird that chirps. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  5. 5. “NO!” was her reply With that glint in her eye “But you may choose this doll that burps OR that wooden bird that chirps.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  6. 6. Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  7. 7. Mother gave a grin She pinched my girlish chin She squeezed my crusty nose Until I wiped it on my clothes. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  8. 8. She said, “Time and money Will always make you CHOOSE Remember: this OR that It’s a rule you mustn’t lose.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  9. 9. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  10. 10. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  11. 11. Mother shook her head, “Now Scarcity, you know I said You may choose between this bike OR that shiny kite you like.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  12. 12. Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  13. 13. Mother softly said “Do you think that toys are free? That toys grow like leaves on a MAGIC TREE? © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  14. 14. This AND that - The world can never be. It’s this OR that - Can’t you see?”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  15. 15. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  16. 16. Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  17. 17. Well... I saw Mother wink at the big black clock That was hanging on the wall singing tick-tick tock And then, I’m not kidding, the clock began to talk It said, “Refuse to choose and you will LOSE!” © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  18. 18. Pouting, I was sent to my room for a spell I guess to be punished for my childish yell But after an hour I was happy to see… In my room, growing tall, was a giant magic tree. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  19. 19. The tree pierced the roof. My room was filled with sunny light I grabbed a lowly branch and climbed up to the leaves. What a FEELING! How AMAZING! Toys began to sprout, just like leaves. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  20. 20. Toys beyond my WILDEST dreams - Pretty dolls, lots of balls, and super toy machines. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  21. 21. Toys, toys, the tree was filled with toys Lots of toys, like big bright bikes And other things that make loud noise. I squeezed the dolls I hugged a ball I stroked the trucks I loved them all. Then balanced on my toes with poise I quickly started plucking toys. To reach every limb I used a broom I picked my toys by the sun, then the moon Not once did I use my time to choose - I was busy throwing every toy, on the floor inside my room. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  22. 22. Finally, I reached the tree’s tip-top And grinning, there on top, was that big black clock It made not a sound - not one tick-tick tock For time had stopped What a tick-tick SHOCK!© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  23. 23. The clock smirked and said: “I don’t like to fuss But Scarcity, dear girl, your time is up This OR that - this rule you did abuse Because you would not choose, it’s time for you to lose.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  24. 24. I grabbed that clock; it was such a brat Then I whacked it HARD, with the broom as a bat I screamed, “NO MORE RULES NO MORE THIS OR THAT!” Silence, then a sigh - the clock was gone like a snap. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  25. 25. Now that there were no more toys on the tree I climbed down, quickly, feeling fine and free For there was no more clock to be A source of time to punish me. Besides, I had toys in my room to see.© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  26. 26. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  27. 27. I heard my Mother’s voice With Christmas cheer, she called my name I was relieved; she looked the same. And that black clock? It looked real swell And the sound of time made me feel well. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  28. 28. Such a special Christmas I hugged Mommy – what a saint I got to CHOOSECHOOSE the perfect gift … It was the bike, without complaint © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  29. 29. What do you think SCARCITY is? Raise your hands to get chosen to answer this question! (A) The state of being scared. (B) The state when things are sacred. (C) The state of something being insufficient (not enough). © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  30. 30. SCARCITY Time Money© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  31. 31. Why do you think you have to make CHOICES? Raise your hands to get chosen to answer this question! (A) Because of scarcity. (B) Because we have a lot of things. (C) Because opportunity cost occurs. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  32. 32. CHOICES For example, if you only have $2, And you want to buy a sandwich AND a teddy bear… © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  33. 33. CHOICES $2 $2 But each of them costs $2! That’s not enough money to buy BOTH! Make a CHOICE! © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  34. 34. Activity B: Identifying Opportunity Costs Hand out the plain A4 papers. © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  35. 35. Activity B: Identifying Opportunity Costs Using a ruler, draw 2 lines onto the paper: © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  36. 36. Activity B: Identifying Opportunity Costs Number the rectangles… 1 2 3 4 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  37. 37. Activity B: Identifying Opportunity Costs In RECTANGLE 1, write down… Scarcity Choice Opportunity Cost 1 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  38. 38. Activity B: Identifying Opportunity Costs READ THE WORDS OUT LOUD!  Scarcity Choice Opportunity Cost 1 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  39. 39. Activity B: Identifying Opportunity Costs In RECTANGLE 2, write down… 5 – 10 activities you want to do with the friend on your LEFT eg. swimming, shopping… 2 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  40. 40. Activity B: Identifying Opportunity Costs Sadly, time and money is scarce Your friend only has enough time and money to do 3 activities on your list! Get him/her to choose and circle 3 favourite activities in RECTANGLE 2.© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  41. 41. Activity B: Identifying Opportunity Costs In RECTANGLE 2, circle… 2 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  42. 42. Activity B: Identifying Opportunity Costs Write down the 3 activities in RECTANGLE 3: Example Swimming Cycling Watching A Movie 3 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  43. 43. Activity B: Identifying Opportunity Costs Sadly, time and money is scarce Unfortunately, at the last minute your friend can only do 1 activity with you! You will have to choose the activity you want to do the most! © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  44. 44. Activity B: Identifying Opportunity Costs RANK the activities in RECTANGLE 3: 3 Example Swimming Cycling Watching A Movie 1 2 3 1: Something you want to do THE MOST 3: Something you want to do THE LEAST © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  45. 45. Activity B: Identifying Opportunity Costs In RECTANGLE 4, write down… OPPORTUNITY COST 3 Example Swimming Cycling Watching A Movie 1 2 3 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  46. 46. Activity B: Identifying Opportunity Costs In RECTANGLE 4, write down… the 2nd best activity (this is your Opportunity Cost)! OPPORTUNITY COST 3 Example Swimming Cycling Watching A Movie 1 2 3 Example Swimming2 © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  47. 47. Activity B: Identifying Opportunity Costs Flip to the back of the paper and write down… My favourite activity was __________. My opportunity cost was _________ because that was activity was my NEXT best choice. Read this statement out loud!  © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
  48. 48. Activity A: Hand out ONE Sheet to EACH Student as Homework  © 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

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