lesson4 ppt (p3)

Tuning In!

© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

http://www.youtube.com/watch?v=yEttIvZ7qDA

A poem:A poem:Toys For Me!Toys For Me!


A poem:A poem:Toys For Me!Toys For Me!

Teacher: Read words in blackStudents: Read words in red


On my birthday I askedMy Mother to buyThis baby doll that

burps

AND that wooden bird that chirps.


“NO!” was her replyWith that glint in her eye“But you may choose this

doll that burpsOR that wooden bird that

chirps.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

Mother gave a grinShe pinched my girlish chinShe squeezed my crusty noseUntil I wiped it on my clothes.


She said, “Time and moneyWill always make you CHOOSE

Remember: this OR thatIt’s a rule you mustn’t lose.”


Mother shook her head,“Now Scarcity, you know I said

You may choose between this bikeOR that shiny kite you like.”


Mother softly said“Do you think that toys are free?That toys grow like leaves on a MAGIC TREE?


This AND that -The world can never be.

It’s this OR that -Can’t you see?”© 2012 Citi-NIE Financial Literacy Hub for

Teachers, All Rights Reserved

Well...I saw Mother wink at the big black clock

That was hanging on the wall singing tick-tick tock

And then, I’m not kidding, the clock began to talk

It said, “Refuse to choose and you will LOSE!”


Pouting, I was sent to my room for a spellI guess to be punished for my childish yellBut after an hour I was happy to see…In my room, growing tall, was a giant magic tree.


The tree pierced the roof. My room was filled with sunny light

I grabbed a lowly branch and climbed up to the leaves.

What a FEELING!How AMAZING!

Toys began to sprout, just like leaves.


Toys beyond my WILDEST dreams

-Pretty dolls, lots

of balls, and super toy machines.


Toys, toys, the tree was filled with toysLots of toys, like big bright bikesAnd other things that make loud noise.

I squeezed the dollsI hugged a ballI stroked the trucksI loved them all.Then balanced on my toes with poiseI quickly started plucking toys.To reach every limb I used a broomI picked my toys by the sun, then the moonNot once did I use my time to choose -I was busy throwing every toy, on the floor inside my room.


Finally, I reached the tree’s tip-top

And grinning, there on top, was that big black clockIt made not a

sound - not one tick-tick tockFor time had

stoppedWhat a tick-tick

SHOCK!© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

The clock smirked and said: “I don’t like to fuss

But Scarcity, dear girl, your time is upThis OR that - this rule you did abuseBecause you would not choose, it’s time

for you to lose.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

I grabbed that clock; it was such a brat

Then I whacked it HARD, with the broom

as a batI screamed,

“NO MORE RULESNO MORE THIS OR

THAT!”Silence, then a sigh -

the clock was gone like a snap.


Now that there were no more toys on the treeI climbed down, quickly, feeling fine and free

For there was no more clock to beA source of time to punish me.

Besides, I had toys in my room to see.© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

I heard my Mother’s voice

With Christmas cheer, she called my nameI was relieved; she looked the same.

And that black clock?It looked real swell

And the sound of time made me feel well.


Such a special ChristmasI hugged Mommy – what a saint

I got to CHOOSECHOOSE the perfect gift …It was the bike, without complaint © 2012 Citi-NIE Financial Literacy Hub for


What do you think SCARCITY is?Raise your hands to get chosen to answer this question!

(A) The state of being scared.(B) The state when things are

sacred.(C) The state of something being

insufficient (not enough).© 2012 Citi-NIE Financial Literacy Hub for


SCARCITY

Time Money© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved

Why do you think you have to make CHOICES?Raise your hands to get chosen to answer this question!

(A) Because of scarcity.(B) Because we have a lot of things.(C) Because opportunity cost occurs. © 2012 Citi-NIE Financial Literacy Hub for


CHOICESFor example, if you only have $2,

And you want to buy a sandwich AND a teddy bear…


CHOICES

$2$2

But each of them costs $2!That’s not enough money to buy BOTH!Make a CHOICE!


Activity B:Identifying Opportunity Costs

Hand out the plain A4 papers.



Using a ruler, draw 2 lines onto the paper:



Number the rectangles…

1 2

3 4


Activity B:Identifying Opportunity CostsIn RECTANGLE 1, write down…

ScarcityChoiceOpportunity Cost

1



READ THE WORDS OUT LOUD!

ScarcityChoiceOpportunity Cost

1



5 – 10 activities you want to do with the friend on your LEFT eg. swimming, shopping…

2


Activity B:Identifying Opportunity CostsSadly, time and money is scarce

Your friend only has enough time and money to do 3 activities on

your list!Get him/her to choose and circle 3

favourite activities inRECTANGLE 2.



In RECTANGLE 2, circle…

2



Write down the 3 activities in RECTANGLE 3:

ExampleSwimming

CyclingWatching A Movie

3


Activity B:Identifying Opportunity CostsSadly, time and money is scarce

Unfortunately, at the last minute your friend can only do 1 activity

with you!You will have to choose the activity

you want to do the most!© 2012 Citi-NIE Financial Literacy Hub for



RANK the activities in RECTANGLE 3:

3 ExampleSwimming

CyclingWatching A Movie 1

23

1: Something you want to do THE MOST

3: Something you want to do THE LEAST



OPPORTUNITY COST3 Example

SwimmingCycling

Watching A Movie 1

23



In RECTANGLE 4, write down…the 2nd best activity (this is your Opportunity Cost)!

OPPORTUNITY COST3 Example

SwimmingCycling

Watching A Movie 1

23

ExampleSwimming2



Flip to the back of the paper and write down…

My favourite activity was __________.

My opportunity cost was _________ because that was activity was my NEXT best choice.

Read this statement out loud! © 2012 Citi-NIE Financial Literacy Hub for


Activity A:

Hand out ONE Sheet to EACH

Student as Homework


lesson4 ppt (p3)

Education