Teaching Information
This is set up to do a simulation for each month. I have written plans for all 12 months, but it can be shortened if preferred. This will not cover a whole school year of math. This can be added to whatever math they are already doing. Days 1-12 is used to introduce topics of business, money management, why you need a job also known as reality check. They will also practice the skills needed to run a business. But at the end of 89 days they will know the answer to the age old question, "When will I ever use this stuff?" Also, encourage them to have a business that reflects their interests, whatever is their favorite thing, whether it's comic books, video games, toys, pets, latest fashion, etc. It's completely up to them. The more interested they are in the subject, the more they can learn from it. Whatever they choose, they will need to research prices of items they sell and also research wages for their workers. This is in days 13-16, when you are setting up your business. Days 17- 22 are repeated for each month simulation. Also, taking orders from friends and family is enough to practice the math skills, but not really enough to keep a business going, so here is an idea I borrowed from somewhere else called Additional In Store Sales that gives them more revenue without a bunch of orders. I want to use dice to determine the number of those sales. Also you will need a copy of Budget, which is a board game. We love games, so yes I think it is worth the expense. They are $18.95 at Rainbow Resource Center.There are also free worksheets on decimals and percents if needed. This is just a guideline. Make it work for you and have fun!
Introduction to Business Math
Week 1
Day 1: Play Mad Money at www.pbskids.org/itsmylife/games (intro of money management)
Day 2: Play Be your own boss at www.pbskids.org/itsmylife/games (intro of running a business)
Day 3: Adding and Subtracting Decimals, only if needed
Week 2
Day 4: Multiplying Decimals, if needed
Day 5: Go to www.JumpStart.org/reality-check.html
and give your student a reality check. This gives them a reason to need a business.
Day 6: Percent worksheets, if needed (3 in all) do all in one day or break it up if you prefer.
Week 3
Day 7: percent increase worksheet (above)
Day 8: what percent worksheet
Day 9: Calculating Tax Worksheet
Week 4
Day 10 C
Day 12: Is there anything you need to work on before moving on? Or just use this day to work on other skills.
Starting my business
Week 5
Day 13 Costs of Business Worksheet
Day 14 Create name and design logo for business
Day 15:It's your business worksheet.
Day 16:Workers worksheet (save it you will need it later for increasing workers' pay, or if you decide to hire more workers.
January
Week 6
Day 17: January Design Advertising, Choose advertising percentage. If they choose to spend $25, they get a 25% increase, $50, $50% increase, $75, 75% increase. If they are paying for advertising, they may as well have an ad. So make an ad on paper, or go digital and do a blog or something. Be very creative!! This will be done for each month.
Day 18:Prices worksheet
Day 19: Take orders, adjust inventory (friends and family play along!)
Week 7
Day 20: Before playing a round for this month, roll dice for additional in store sales. Roll 3 dice plus one for every worker that you hired. Arrange the dice in the order that you prefer for that $ amount. Write this down to use later for your one months revenue. Play board game Budget (need to buy)
Day 21: Write checks for bills generated from game.
Day 22: 1 months revenue worksheet, calculate advertising return on investment, poster board or cardstock graph. Or they can make a digital one by going here:
http://nces.ed.gov/nceskids/createAgraph/default.aspx?ID=ed5e0b34df404d9388221d5d75400b51 Student makes with help if needed. Once they know how it's done, they can probably do this on their own from now on.
February
Week 8
Day 23: Feb. Design Advertising and choose advertising percentage
Day 24: Prices worksheet
Day 25: Take orders, adjust inventory.
Week 9
Day 26: Play board game, roll dice for additional in store sales like before
.Day 27: Write checks for bills generated from game.
Day 28: 1 months revenue worksheet, calculate advertising return on investment, continue graph project for sales
March
Week 10
Day 29: March design Advertising and choose advertising percentage
Day 30: Prices worksheet, and increase workers pay (from workers worksheet used earlier)
Day 31: 1 month's revenue worksheet, calculate advertising return on investment, graph project.
Week 11
Day 32: Additional In Store Sales Dice,Play board game.
Day 33: Write checks for bills generated from game.
Day 34: 1 months revenue worksheet, calculate advertising return on investment, continue graph project for sales
April
Week 12
Day 35: April Advertising and choose advertising percentage
Day 36: Prices worksheet
Day 37: Take orders, adjust inventory.
Week 13
Day 38: Additional In Store Sales Dice, Play board game.
Day 39: Write checks for bills generated from game.
Day 40: 1 months revenue worksheet calculate advertising return on investment , graph project
May
Week 14
Day 41: May Advertising and choose advertising percentage
Day 42: Prices worksheet Day 43: Take orders, adjust inventory.
Day 43: Take orders, adjust inventory.
Week 15
Day 44: Additional In Store Sales Dice,Play board game.
Day 45: Write checks for bills generated from game.
Day 46: 1 months revenue worksheet, calculate advertising return on investment, graph project
June
Week 16
Day 47: June Advertising and choose advertising percentages
Day 48: Prices worksheet
Day 49: Take orders, adjust inventory
Week 17
Day 50:Additional In Store Sales Dice, Play board game.
Day 51: Write checks for bills generated from game.
Day 52: 1 months revenue worksheet, calculate advertising return on investment, graph project
July
Week 18
Day 53: July Advertising and choose advertising percentage
Day 54: Prices worksheet
Day 55: Take orders, adjust inventory.
Week 19
Day 56: Additional In Store Sales Dice,Play board game.
Day 57: Write checks for bills, generated from game.
Day 58: 1 months revenue worksheet, calculate advertising return on investment, graph project
August
Week 20
Day 59: August Advertising and choose advertising percentage
Day 60: Prices worksheet
Day 61: Take orders, adjust inventory.
Week 21
Day 62: Additional In Store Sales Dice, Play board game.
Day 63: Write checks for bills, generated from game.
Day 64: 1 months revenue worksheet, calculate advertising return on investment, graph project
September
Week 22
Day 65: September Advertising and choose advertising percentage
Day 66: Prices worksheet
Day 67: Take orders, adjust inventory
Week 23
Day 68: Additional In Store Sales Dice, Play board game.
Day 69: Write checks for bills, generated from game.
Day 70: 1 months revenue worksheet, calculate advertising return on investment, graph project
October
Week 24
Day 71: October Advertising and Choose advertising percentage
Day 72: Prices worksheet
Day 73: Take orders, adjust inventory.
Week 25
Day 74: Additional In Store Sales Dice, Play board game.
Day 75: Write checks for bills, generated from game
.Day 76: 1 months revenue worksheet, calculate advertising return on investment, graph project
November
Week 26
Day 77: November Advertising and Choose Advertising percentage
Day 78: Prices worksheet
Day 79: Take orders, adjust inventory
Week 27
Day 80: Additional In Store Sales Dice, Play board game.
Day 81: Write checks for bills, generated from game.
Day 82: 1 months revenue worksheet, calculate advertising return on investment, graph project
December
Week 28
Day 83: December advertising and choose advertising percentage
Day 84: Prices worksheet
Day 85: Take orders, adjust inventory.
Week 29
Day 86: Additional In Store Sales Dice, Play board game.
Day 87: Write checks for bills, generated from game.
Day 88: 1 months revenue worksheet, calculate advertising return on investment, graph project
Day 89: Year end wrap up: profit or loss?
I finally got my copy of Budget, the board game. To adapt this for business math purposes since it is a personal finance board game, I am making some adjustments to make it more business math friendly. Pay Dental Bill $155 change to Repair roof. $155. Buy Groceries $75 change to Buy supplies needed for business. Host Birthday Party $190 change to Host Business Lunch $190. Pay Apartment rent $335 change to Pay for store rent of building $335. Buy clothes $275 change to Buy new uniforms $275. Pay Property Tax Installment on your home $290. Change to Pay Property Tax on your store building. Pay Medical Expenses $720 change to Pay Workman's Compensation $720. Fire Damages on Home Pay $680 for repair bill. Change to Fire Damages to business Pay $680 for repair bill. Pay Home Loan Interest Pay $350. Change to Business Loan Interest Pay $350. You may sell your house for $4,100 profit. Change to You may sell your building for a $4,100 profit. You would still have your business. You just need a new building either rent or purchase your choice. Essentially it is the same game. You just change the words to suit your business. You could permanently alter the game or just mentally note the changes here.
Best wishes with your lesson plan! Our economy depends on our future generations and their wisdom. =)
Best wishes with your lesson plan! Our economy depends on our future generations and their wisdom. =)
This is GREAT! My daughter already has her own business but I am at a loss for how to show her the business math side! Thanks Tonya!
ReplyDelete