Title of Unit: Money, Money, Money Title of Lesson: The Purpose of Banks Submitted By: Gina Bogden

A. Summary of the Lesson Plan: This social studies lesson is designed for 3rd grade students to learn why people use banks and to define the terms saving, interest, and borrowing. This lesson uses the 3rd Grade Houghton Mifflin Social Studies textbook Communities (p.268-269). B. Target Population: Grade Level: 3rd grade Skill Level: students at all learning levels Grouping: whole group introduction, reading; partner discussion; small-group brainstorming; individual - assessment

C. Materials: A piggy bank Houghton Miifflin 3rd Grade Social Studies Book: Communities (p. 268-269) Computer Website: piggybankworld.com Paper and pencils D. Objectives: o NV State Social Studies Standards o E10.3.2 Define banking terms including saving, interest, and borrowing. E10.3.3 Indentify reasons people use banks.

Student-Friendly Standards I can define the words saving, interest, and borrowing. I can identify why people use banks.

E. Procedure: 1. Introduce the topic. Show students a piggy bank and tell them that we will be learning about banks today. Discuss whole group the purpose of a piggy bank. Have students discuss with their shoulder partner whether or not they have a piggy bank and how much money they think they have in it. Ask students to brainstorm with their table group (4 students) where the name piggy bank came from. Call on 1 student from each group to give one response. Read whole group from piggybankworld.com under Piggy Bank Lore History of the Piggy Bank.

Nevada State College

EDEL 453 - Spring 2013

Karen Powell- Instructor

page 1

Title of Unit: Money, Money, Money Title of Lesson: The Purpose of Banks Submitted By: Gina Bogden

Tell students that we will be learning about another type of bank besides a piggy bank. Introduce vocabulary (income, interest, budget, borrow)

2. As a class, read p. 268-269, stopping to ask questions as indicated in the margins of the TE. After paragraph 2 p. 269, point out that when you borrow money from the bank the bank charges interest so interest can be both good and bad. 3. Ask additional questions not listed in TE such as the following: (after paragraph 1 p. 268) How do your parents earn money? Do you earn money by getting an allowance or doing chores? (after paragraph 1 p. 269) What do you do with the money you earn? Do you save any of it? Do you have a savings account? What is the difference between saving money in a piggy bank and a bank? Is it free to borrow money from a bank?

4. Students discuss with their group (of 4 students) a time when they saved their money to buy something special. 5. Students will make a sample budget for one week, planning how they would spend/save $10. 6. CLOSURE: Discuss Lesson Review questions 1 and 4 on page 269. F. Assessment: What will you use to measure student understanding? Students will be asked to answer the following questions on a piece of paper: 1. Name 2 reasons people use banks. 2. What is interest and how do you earn it from a bank? 3. When do you have to pay interest to a bank? 4. Define the word saving. 5. Define the word borrowing. Explain how you will know students understand the concepts from the lesson. Students must define banking terms including saving, interest, and borrowing and identify reasons people use banks. Answering the questions listed above will show if students have an understanding of the concepts taught in this lesson. G. Reflection: 1. Which part of the lesson do you think will be the easiest for you to teach?
Nevada State College EDEL 453 - Spring 2013 Karen Powell- Instructor page 2

Title of Unit: Money, Money, Money Title of Lesson: The Purpose of Banks Submitted By: Gina Bogden

The whole group reading and discussion will be the easiest part to teach. 2. Which part will be most challenging for you to teach? I think the most challenging part will be teaching about the interest banks charge to loan money since it is not discussed in the textbook. The sample budget might also be challenging for students who have never had the opportunity to decide how to spend money. 3. How will you follow up or extend this lesson? As an extension to this lesson, I would do another lesson that goes into more depth about borrowing, saving, and interest. 4. What will you do for students who dont grasp the concepts? For students who are struggling, I would use the Reteach Mini Lesson at the bottom of TE p. 269. We would work together to make a Venn diagram about Earning and Spending/Saving. 5. Which part of the lesson, if any, do you think might need to change? This lesson needs more time spent on borrowing and interest. I modified this lesson by breaking it down into two lessons and added additional questions. 6. When you were writing this lesson plan, what was the most difficult part? The hardest part was deciding how I wanted to break up the lesson because if I taught the whole chapter, it would include too many standards.

Nevada State College

EDEL 453 - Spring 2013

Karen Powell- Instructor

page 3

Title of Unit: Money, Money, Money Title of Lesson: The Purpose of Banks Submitted By: Gina Bogden

From piggybankworld.com
History of the Piggy Bank
Seemingly, pigs have been esteemed symbols in many myths and legends the world over. But when, where, and how did coin banks adopt the image of the pig? The short explanation for this customary shape might humor you.

During the Middle Ages, metal was both expensive and hard to find throughout Europe. Consequently, families used clay to create their household pots and jars. Usually the type of clay chosen to make these house wares was a clay called "pygg". Pygg is an orange clay, and it was used widely at this time in Europe because it was inexpensive. Whenever a typical household had coins to save, the elected bank would more than likely be a pygg jar. Inevitably, these pygg jars became known as pygg banks over time.

Later, in the eighteenth century, craftsmen were frequently asked to create pygg banks. Misunderstanding the request, the potters crafted banks in the shape of pigs and painted them likewise. These pig banks soon became popular, and even today piggy banks (shaped as pigs) are found around the world throughout diverse cultures.

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Nevada State College

EDEL 453 - Spring 2013

Karen Powell- Instructor

page 4