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Lesson Plan #:AELP-APM000
AUTHOR: Kent Grimes, William Henry Burkhart Elementary School, Indianapolis, Indiana

Date: 1994


Grade Level(s): 5

Subject(s):

  • Mathematics/Applied Math

OBJECTIVE: To learn about banking and how to use money more wisely. MATERIALS:

  • One or two computers; printer
  • Software: teacher-developed program to perform banking functions or database with teacher-developed template
  • Student-designed school money
  • Teacher-developed checks and deposit slips, balance sheet, and business account application
  • Baskets for organizing paperwork; compartments for storing paperwork

ACTIVITIES AND PROCEDURES:
The students can earn money in a variety of ways, such as for completing assignments on time, for doing outstanding work, for attending class regularly, for promptly bringing notes indicating excused absences, for completing classroom jobs, and for selling things and services to other students.

The students can spend money by purchasing items from other students, paying to leave class for the restroom, to rent a pencil, or to buy paper. They must pay fines for being late or forgetting to put away their chairs. Students can pay for class parties by contributing to a special fund set up for these occasions.

On banking days, select two students to be bank managers, two to be tellers, and two to be computer operators. Have the operators enter all the data into the computer.

Before the bank opens, print out all student balances. Have the students who wish to do their own banking bring their money and their own deposit slips or checks for withdrawal to one of the tellers. After helping the customer, have the teller place the paperwork in the basket. Next, the bank managers pass the paperwork on to the computer operators to enter the transactions into the computer program. The paperwork is then stamped and filed for future reference.