Goal-directed Instructional Design Plan – Who Wants to Be a Millionaire?
Author – Tara Swanepoel
1.
A problem or a need – there must be a problem of practice or an educational need
that should be addressed during the lesson.
In mathematics, the concepts of simple and compound interest can be confusing and are
often misunderstood by students. This lesson is designed to help students understand
the concepts of both kinds of interest, how they are calculated, and how they are used
in everyday life.
2.
A real-world performance – how the learning objective fit into a real-world activity or
need.
What’s a credit card? How does a savings account work? Can my money earn me more
money?
Credit card offers and bank propaganda are often tantalizing and “too good to be true.”
But how much are we really paying for the convenience of having access to money right
now, money that isn’t technically ours? If we save our money, can we make more
money? The concepts presented in this lesson will help students be able to understand
credit cards, analyze credit card offers, and make an informed decision when it comes to
consumer credit, spending, saving, and investing using the concepts of interest.
3.
An instructional objective – the objectives are based on the final outcome, activity or
test. These objectives will each be different for the four types of knowledge; performing
skills, recalling facts, identifying examples of concepts, and applying principles.
a.
Objective – The student will be able to calculate simple and compound interest
using a scientific calculator.
b.
Objective – The student will be able to identify real-world situations in which
simple and compounding interest are applied.
c.
Objective – The student will be able to analyze credit card offers and calculate
corresponding interest that will be accrued on different purchases.
d.
Objective – The student will be able to identify similarities and differences
between debit and credit cards.
e.
Objective – The student will be able to explain the advantages and
disadvantages of using cash and consumer credit to purchase goods and services.
f.
Objective – The student will be able to explain the concept of credit.
g.
4.
Objective – The student will be able to explain the mathematics of investing.
A set of essential content – the basic ideas and skills that will allow the learner to
complete the task or understand the content.
Students must be able to choose an appropriate model for problem solving. They must
be able to use a scientific calculator to do basic calculations necessary to calculate
simple and compounding interest. Students must know how to surf the web and read to
understand.
5.
6.
An evaluation consisting of a test or observation – an assessment, observation or
product showing that the objectives can be accomplished in the real-world setting.
•
Worksheet –
http://saxonpublishers.hmhco.com/HA/correlations/pdf/m/M6_GCA_SA_8.pdf
•
Review questions within readings.
•
Short essay – You have been eyeing a new digital camera for several weeks. You
have recently been approved for a new student credit card. How will you choose to
use your new card in making the digital camera purchase? Remember, the choice is
yours. There is no “wrong” answer, but you will need to discuss the advantages and
disadvantages to the method you have chosen.
•
Research – You would like to buy your first car. You have found a used car that
costs just under $5000. Research current loan options at a number of local banks.
For how long will you borrow the money? What is the interest rate? What is the total
interest you will have paid at the end of the loan?
A method to help participants learn – the method to deliver the content; a lesson.
Visit the following webpages to learn about the different kinds of interest.
•
Interest: An Introduction - http://www.mathsisfun.com/money/interest.html
•
Compound Interest - http://www.mathsisfun.com/money/compound-interest.html
Explore compounding interest using this online calculator and investment graph.
•
Compounding Interest Calculator - http://www.mathsisfun.com/money/compoundinterest-calculator.html
•
Investment Graph - http://www.mathsisfun.com/money/investment-graph.php
Visit the following pages to learn about credit.
•
The Costs of Credit** http://www.econedlink.org/lessons/index.php?lid=175&type=student
**Answer multiple choice questions and essay questions at the end of the section
“Credit has a cost.” Email results to your teacher.
**Answer multiple choice questions at the end of the section “Determining the Interest.”
Email results to your teacher.
•
What Banks Earn from Credit Cards - http://www.intmath.com/money-math/2credit-cards.php\
Play the following games to see if you would make a good credit card holder☺.
•
Game: It Costs What? http://www.thirteen.org/finance/games/itcostswhat_creditcard3.html
•
Credit Card Simulator - http://www.channelone.com/life/swf_credit/
Explore the concept of minimum payments with this online calculator.
•
●
Credit Card Minimum Payment Interest Calculator http://www.webwinder.com/wwhtmbin/java_cci.html
Motivation:
○
Meaningfulness – content and activities must have meaning for the learner
Almost everyone wants a credit card. They seem convenient and advantageous, but
are they really? Can my money grow into more money? The advantages of delayed
gratification☺
○
Pleasant consequences – the effects that achieving the goal will have on the
learner
Students will have a real look into the world of borrowed and invested money.
○
Novelty – an attention-getting, humorous or curious manner that relates to the
useful information in your lesson
Show students real credit offers that make promises and claims that seem amazing
and maybe even too-good-to-be-true.
●
Socialization - a strong motivator for student learning
Students will work in small groups to simulate an experience with credit card debt and
investing.
●
●
Audience – For what audience are you designing this lesson? Consider the following:
○
Age – Grades 9-12
○
Skill level (including technology skills) – High school students with basic
technology skills and basic graphing calculator skills.
○
Prerequisite knowledge (including technology background) – basic
computation, ability to surf web, ability to use graphing calculator
Technology Needs – the computers, software, programs (such as Angel or other
CMS’s) printers, equipment, Internet access, time in the computer lab will be needed to
successfully complete your technology-rich lesson.
Computers with internet access
2-3 class periods with the computers
Graphing calculators