Lesson Plan: Managing Money and Comparing Costs

Subject: Mathematics Topic: Number, Money, and Measure Level: Second Level (Scottish Curriculum)

Desired Outcome: I can manage money, compare costs from different retailers, and determine what I can afford to buy.

Lesson Duration: 60 minutes

Resources: - Whiteboard or blackboard - Markers or chalk - Worksheets (included at the end of the lesson plan) - Price tags or pictures of various items - Calculator (optional)

Introduction (10 minutes): 1. Begin the lesson by asking students about their understanding of money and its importance in our daily lives. 2. Discuss the concept of managing money and why it is essential to compare costs before making a purchase. 3. Explain that in this lesson, we will learn how to compare costs from different retailers and determine what we can afford to buy.

Main Activities (40 minutes):

Activity 1: Comparing Costs (20 minutes) 1. Display price tags or pictures of various items on the board. 2. Divide the class into small groups and provide each group with a worksheet (Worksheet 1 - Comparing Costs). 3. Instruct the students to compare the costs of the items on the worksheet and rank them from the most expensive to the least expensive. 4. Encourage students to discuss their reasoning and strategies for comparing costs within their groups. 5. After completing the worksheet, ask each group to share their rankings and discuss any differences in their answers. 6. Emphasize the importance of considering quality, quantity, and other factors when comparing costs.

Activity 2: Determining Affordability (20 minutes) 1. Distribute another worksheet (Worksheet 2 - Determining Affordability) to each student. 2. Explain that they will be given a budget and a list of items to purchase. 3. Instruct the students to determine which items they can afford to buy within their given budget. 4. Encourage students to use mental math or a calculator to calculate the total cost of each item and subtract it from their budget. 5. Allow students to work individually or in pairs to complete the worksheet. 6. Once completed, discuss the answers as a class, highlighting different strategies used by students to determine affordability.

Conclusion (10 minutes): 1. Recap the main concepts covered in the lesson, such as comparing costs and determining affordability. 2. Discuss real-life scenarios where these skills can be applied, such as grocery shopping or buying toys. 3. Encourage students to practice managing money and comparing costs in their daily lives. 4. Provide feedback and address any questions or concerns raised by the students.

Extension Activity (Optional): 1. Ask students to bring in advertisements or online shopping catalogs from different retailers. 2. Instruct them to compare prices for specific items and identify the best deal. 3. Discuss their findings in the next class, allowing students to share their experiences and strategies.

Worksheet 1: Comparing Costs

Rank the following items from the most expensive to the least expensive:

1. Laptop - £800
2. Bicycle - £350
3. Smartphone - £500
4. Video game console - £300
5. Designer shoes - £200
6. Sports watch - £150

Worksheet 2: Determining Affordability

You have a budget of £200. Determine which of the following items you can afford to buy:

1. T-shirt - £15
2. Jeans - £40
3. Sneakers - £60
4. Backpack - £25
5. Sunglasses - £30
6. Hat - £10

Note: The prices and items on the worksheets can be adjusted based on the availability of resources and the local currency.