The Rich Dad mission is one of education and empowerment. Knowledge is power and the Rich Dad Organization is committed to improving the awareness of and opportunities for improved financial literacy for adults and children around the world.
The Foundation for Financial Literacy is a part of this mission. This foundation was created to support educational, charitable, religious and scientific programs and organizations that utilize financial education to teach the difference between earned, passive and portfolio income and educate individuals to convert earned income into passive and portfolio income. The Foundation's mission reflects that of the Rich Dad Organization: to elevate the financial well-being of humanity.
The curriculum for RichKidSmartKid is one designed to elevate the creative and academic aptitude of children throughout the world। Their curriculum teaches life lessons for student of all ages. Their lessons are designed to reach students at four distinct levels: K-2, 3-5, 6-8, and High School. The lessons all come with lesson plans for teachers to use as the students engage the automated RichDad games. This is an excellent tool for teachers to teach students higher level learning skills while teaching them to think critically.
Lesson Plan
Rich Kid Smart Kid GamesGame One: Jesse's Ice Cream StandTopic: ProfitGrade Level: K-2
>>Download Full Lesson Plan and Materials (PDF)
Interactive Internet Game Activity:
Jesse is ready to open an ice cream stand and wants to sell his ice cream to earn money. An animated dialog between Jesse and his good friend Toki will introduce students to the game. Students must then help Jesse to make a profit by selecting the best of three possible ice cream scoopers.
Learning Objectives
Understand the concept of profit
Use money to count by 10's
Compare costs to sales
Assessments
Students will:1) estimate the number of scoops of ice cream needed to make a profit2) calculate total sales of ice cream cones3) determine the amount of profit when shown the total cost of ice cream vs. the total sales of scoops
Classroom Activities
1. Jesse & Toki at the Ice Cream Stand - A cute script of Jesse and Toki discussing the ice cream stand and how Jesse can make a profit. Read to class to give students a brief overview of the concept of profit. 2. Counting Your Moola Berry Ice Cream Money - A valuable money counting activity. Make copies of this activity for each student. Read the instructions to the class. Every student should cut out each of the coins at the bottom of the page and paste one coin in the box for each scoop of ice cream on the ice cream cones. Students should then count the coins by 10's to determine the total amount of money collected. 3. Counting Your Moola Berry Ice Cream Profits - A class activity to get everyone involved. Make part of your classroom floor into an income statement by marking off a square area with masking tape then dividing it in half. The left side will represent the expense or cost side and the right side will represent the income or revenue side. Make enough copies of the big 10 cent coins so that each student has one coin and you have several of your own. Review the concept of profit. Then place a number of coins (maybe 10) on the left side representing the amount of money the business must pay for the ice cream. Ask each student to place their coin on the right side representing the amount of money for each scoop of ice cream sold. Have students compare two sides to determine how much money is profit. Change the amount of coins on the left side and repeat the process.
Class Discussion QuestionsWhat is profit?Why is profit important?What would happen if Jesse didn't make a profit?Why do profits go up and down?Do you think that Jesse can turn his stand into a big business?
(Charts and activity sheets continue in the downloadable PDF file above.)
Related ArticleTeaching Young People About money
http://www.teachernet.gov.uk/teachingandlearning/library/youngpeopleandmoney/
4 comments:
Keith,
I really like your exemplar for several reasons. First of all, it addresses the issue of relevance. Making money has always been relevant to students. Not only does it empower them, but it addresses a specific and measurable goal, while helping them build skills that will always be useful. Aside from the relevance of this exemplar, it will require planning, paying attention to detail, cooperation, and creative thinking skills to succeed, after all, isn’t entrepreneurialship, the American way? Lisa Oglesby
I agree with Lisa's empowerment comment. Kids are really wrapped up in making money when they graduate. I also think that the critical thinking skills that this program encompasses is crucial to the future success of our kids. The amjority of education is rote learning. By having the students exposed authentically to program that not only engages them but also promotes critical thinking is huge. My one concern about the program is which classes it could be implemented in. I def see this in a math/math remediation class. Hw could this be used in Science/Social Studies/LA?
What a valuable tool. I will introduce all of these games to my AccountingI class. I think that it will really open their eyes to the realization of Assets and Liabilities and what it really means to profit from a business as well as being able to see where your money is coming from and going. Great exemplar. I will introduce these to them today.
Hi Keith,
Thanks for sharing this resource. I wasn't familiar with this site and had fun exploring it.
I'm interested to know more about your thoughts/ideas on this resource. What parts do you like?dislike? Where do you see this fitting into the curriculum?
What critical eye can you use to examine this exemplar?
Thanks for sharing!
CMB
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