Main Subject Area: Mathematics
Additional Subjects: Social Studies, Technology
Duration of Lesson: 90 minutes
Additional Subject Area Standard(s):
Students will construct graphs showing how the buying power of fifty cents has changed over time as well as how the price of a product has changed over time.
Students will apply the information learned when they compose mathematical problems relating to the percentage increase rate of a product.
Ben Franklin: Glimpses of the Man - http://sln.fi.edu/franklin/economst/economst.html
D’Marie Time Capsule - http://www.dmarie.com/timecap/
H.I.P. Pocket Change - http://www.usmint.gov/kids
American Institute of Economics Research - http://www.aier.org/colcalc.html
Coins Used in Lesson:
Grade Level(s): 6-8
2. Ask students how much a loaf of bread, a gallon of milk, and a gallon of gas are today using www.dmarie.com/timecap. Record the amount on class chart for reference.
3. Now ask students what they think these products cost in 1950 and 1970. Record all predictions on board.
4. Have students find the actual average costs of these products and record them on a chart.
5. Have students pick one product (bread, milk or gas) and starting at 1900 and working every ten years, instruct students to record the prices for this product.
6. Have students construct a bar graph of their results. Bar graph should be titled with labeled axis. (X = Years, Y = Cost)
7. Review percentage rate increase with the class using class chart in step 2.
8. Instruct students to write their own percentage increase word problems using the information that was collected in step 4. Students are to pick two years and then calculate the percentage rate increase for their product.
Assessment / Evaluation:
Differentiated Learning Options: