The+Story+of+Money+Reinforcing+Activity

Bartering - A system of exchange By participating in a game called "Barter Bag" students will be introduced to the concept of trade. This introduces students to the concept of bartering.

A lesson plan for Social Studies By:  Carlene M. White []

Grade Level: 7 Theme: World Studies from 750 BC to 1600 AD Ancient Greece to the First Global Age Strand: Economics Topic: Markets Content Statement 21. The growth of cities and empires fostered the growth of markets. Market exchanges encouraged specialization and the transition from barter to monetary economies.

The students will use a bartering system to retrieve a list of needs by collecting personal wants and completing the game called, “Barter Bag.”
 * Learning outcomes/objectives **

Time required for this lesson: 45 minutes


 * Materials/Resources: **
 * 1 paper bag for each student
 * Enough of the following items for 1 per student:
 * erasers
 * pencils
 * lollipops
 * stickers
 * coupons (homework pass, treat from teacher, etc.)
 * Varying amounts of the following:
 * balloons
 * pennies
 * gum
 * marbles
 * Posted list of needs hung in classroom
 * Posted rules for game

Discuss the differences between wants and needs. Come up with a good working vocabulary and examples for each. Examples like: bartering, trade, wants and needs, specializing, different kinds of money, currency, etc. Read Aloud the Book "The Story of Money". Use reading strategies of Activating Background Knowledge to make connections and Questioning the Text.
 * Pre-activities: **

Activities:

 * 1) Students sit at their desks. Tell the students that they will play a game called “Barter Bag.” Give each student a bag with various materials with the direction that he/she cannot open the bag until told to do so. Each bag contains varying materials (example - 2 pencils, 5 pieces of gum, 4 pennies, 1 lollipop, and a sticker, while another could contain 2 coupons, one eraser, four pennies, and five balloons). Direct the attention of the students to a posted list of needs hung in the classroom.
 * 2) In order to keep the items in your bag, you must have at least one of the following items: sticker, eraser, pencil, lollipop, any one coupon. Have the students read the directions aloud to check for understanding. Explain that the students will have a set amount of time (15 mins.) to trade the objects in their bags with others in order to retrieve the list of needs. After they have completed the task, they can continue trading for any other items they may want. They must have received all the needs in order to keep what is in their bags.
 * 3) To retrieve a needed item, students should trade with others by swapping something from their bag, for instance, one pencil may be exchanged for 3 pieces of gum. Explain that there are enough needs for each student to have only one, so the class should work cooperatively and fairly to help everyone retrieve their needs. Explain that the students have 15 minutes to complete the task and afterward, we will check to see how successful each student was. Teacher sets the time and says “Go!”.
 * 4) Following the game, have students discuss the process of bartering and list the advantages and disadvantages.
 * 5) Rereading the Bartering section of //The Story of Money// is a good closing activity.

Assessment:
Observe the students while they are working. Using post-it notes, write a brief comment on each student during the fifteen minutes. Are they participating? Are they working cooperatively? Are they trading calmly? Did the students successfully retrieve their needs? Did they retrieve any wants?