| Full lesson | Create for a teacher a set of content for giving a lesson, beginning with the lesson plan. Each new block of materials must begin with an H1 heading (other subheaders must be H2, H3, etc). When you describe required pictures, write those descriptions in curly brackets, for example: {A picture of a triangle} |
| Which subject | Mathematics |
| What topic | TFinancial Literact Toasted Sandwhich Selling Activity |
| What length (min) | 60 |
| What age group | Year or Grade 5 |
| Class size | 5 |
| What curriculum | Australian Curriculum V9 strands and content discriptors learning objectives and success criteria |
| Include full script | |
| Check previous homework | |
| Ask some students to presents their homework | |
| Add a physical break | |
| Add group activities | |
| Include homework | |
| Show correct answers | |
| Prepare slide templates | |
| Number of slides | 5 |
| Create fill-in cards for students | |
| Create creative backup tasks for unexpected moments |
Financial Literacy: Toasted Sandwich Selling Activity
Year 5
Mathematics
5 Students
The lesson corresponds to the Australian Curriculum V9 strands and content descriptors related to financial literacy, problem-solving, and mathematical reasoning.
| Step Number | Step Title | Length (mins) | Details |
|---|---|---|---|
| 1 | Introduction | 10 | Begin with a brief discussion on financial literacy. Introduce the concept of selling sandwiches and the importance of understanding costs and profits. |
| 2 | Group Division | 5 | Divide students into groups of two. Explain the group activity and assign roles within each group. |
| 3 | Hand Out Printable Cards | 10 | Distribute the printable cards. Instruct students to fill them out with costs associated with making toasted sandwiches (e.g., ingredients, labor, etc.). |
| 4 | Group Work: Cost Calculation | 15 | Groups will calculate the total cost of making their sandwiches and project a selling price. Encourage discussion about how to price for a profit. |
| 5 | Random Checking of Cards | 10 | Collect the printed cards or randomly check what students have filled in. Provide feedback and assistance as necessary. |
| 6 | Share Findings | 5 | Each group shares their findings with the class, discussing their pricing strategies and rationale for profit calculation. |
| 7 | Wrap-Up | 5 | Conclude the lesson by summarizing key points on financial literacy, budgeting, and profit-making. Assign homework related to the same theme for reinforcement. |
## Introduction
"Good morning, everyone! Today, we are going to explore an exciting topic: Financial Literacy. Has anyone heard of this term before? What do you think it means? Great, it’s all about understanding how to manage money effectively.
We’ll be learning how to budget and make a profit by selling toasted sandwiches! What do you think we need to consider when selling something? Yes, we need to look at costs and profits. Can anyone tell me why understanding these concepts is important? Exactly! If we want to succeed in business, we need to know how much we spend and how much we earn.
Let's dive into our activity today!"
## Group Division
"Now, I want you to work in pairs. Please pair up with a partner sitting next to you. That's it! When you're in your pairs, I want you to discuss and decide who will be the 'chef' and who will be the 'accountant' for your group activity. The chef will think about ingredients, and the accountant will focus on the costs and profits. Ready? Let’s move on!"
## Hand Out Printable Cards
"I’ll now hand out some printable cards to each pair. These cards will help you keep track of your costs. On these cards, you will write down the different costs related to making toasted sandwiches, like the price of bread, cheese, and any other ingredients you choose.
Remember to think about everything involved in making your sandwich—ingredient costs, perhaps even a little labour if you're considering time spent. Take your time to fill these out, and I’ll be here if you need any help!"
## Group Work: Cost Calculation
"Now that you have your cards filled out, it's time to calculate! In your pairs, work together to find the total cost of making your sandwiches. Once you have that number, I want you to think about how much you would sell it for to make a profit.
Discuss different pricing strategies within your groups. Should you price it higher or lower? How do you decide on a fair price? Remember, you want to cover your costs but also make some money! You have 15 minutes for this activity. Let's get to it!"
## Random Checking of Cards
"Alright, everyone! I’m going to walk around and check some of your cards. I want to see how you’ve calculated your costs and pricing. I’m here to help you, so do not hesitate to ask questions if you're unsure about any calculations or if you want feedback on your pricing strategies.
I’ll spend about 10 minutes checking in with each group. I'll also provide some tips and tricks for your calculations."
## Share Findings
"Now that we have done some checking, let’s share our findings! Each group will have a couple of minutes to present their costs and pricing strategies. Please explain why you chose to price your sandwiches the way you did.
Remember, there’s no right or wrong answer here; it’s all about how you think about costs and profits. Who wants to go first?"
## Wrap-Up
"Fantastic job today, everyone! You’ve learned how to calculate costs and profits through the sandwich-selling activity. Let’s quickly summarise what we learned about financial literacy. Understanding budgeting is crucial for any business, whether it’s selling toasted sandwiches or running a bigger business.
For homework, I’d like you to create a simple budget for making your favourite food item at home. Please detail the expected costs and how you would price it if you were to sell it.
Bring this in for review, but we won’t present it in class. Well done today, and I can’t wait to see your budgets!"| Question | Answer |
|--------------------------------------------------------------------------|--------|
| What is financial literacy? | |
| Why is it important to understand costs and profits in a business? | |
| What role does the 'chef' play in the activity? | |
| How do you determine the total cost of making a sandwich? | |
| What factors should you consider when pricing your sandwiches? | |
| Why might you choose to price a sandwich higher or lower? | |
| What did you learn about budgeting through the sandwich-selling activity? | |
| How can understanding financial literacy help you in future businesses? | |
| What ingredients did you decide to use for your sandwiches? | |
| How did your group handle the calculations of costs and profits? | |What are some unexpected costs you could encounter when starting your toasted sandwich business, and how might you plan for those in your budget?
If you had to set your selling price based on customer feedback, how would you gather opinions on what price is acceptable?
Can anyone think of a real-life business that faced difficulties because they didn’t understand their costs and profits? What happened?
How might your pricing strategy change if you were selling sandwiches at a school fair versus a local market?
If you could include one unique ingredient in your sandwich to attract more customers, what would it be, and how would that affect your cost and pricing?