Description

Students learn about how the federal government manages money. They develop an understanding of the fundamentals of federal budgeting, including revenue streams, budgetary choices, and their consequences. This lesson includes both a PowerPoint and paper option.

Objectives

Students will be able to:

  • define the following key terms: mandatory, discretionary, revenue, surplus, and deficit.
  • identify types of taxes and the purposes for which taxes are used.
  • analyze the decisions made when trying to balance a nation’s budget.

Lesson Prep

PREVIEW
the Money Matters PowerPoint presentation.
Money Matters.pptapplication/vnd.ms-powerpoint icon
PRINT and COPY
all student and teacher materials.
Money Matters.pdfapplication/pdf icon

Step by Step

ANTICIPATE the lesson by asking the following question: “What are needs and how are they different from wants?”

DISTRIBUTE the Money Matters Guided Notes.

RUN the Money Matters PowerPoint presentation using the built in questions as an opportunity for class review and as a check for understanding. Guide students through the notes, using the teacher’s guide as a reference.

OR

DISTRIBUTE the Money Matters Reading and Money Matters Guided Notes.

READ through the Money Matters Reading as a class, stopping to review and check for understanding.

INSTRUCT  students to complete the Money Matters Guided Notes page, individually, in pairs, or as a whole class activity.

AND

DISTRIBUTE the Money Matters Processing Activity (2 pages).

REVIEW instructions for the Processing Activity and instruct students to complete the activities.

DISTRIBUTE the Money Matters Extension Activity and allow students to finish as there is time.

Recommended Sequence

Before: 
Budget Blast
After: 
Creating the Budget

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