Lesson Plan Comparative Shopping

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Avis Stone
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1 Lesson Plan Comparative Shopping Curriculum Year 5 Year 6 National Consumer & Financial Literacy Framework Justify selection of a range of goods and services NSW VELS Discipline-based learning Economics Economic knowledge and understanding Students describe the difference between needs and wants, and their own roles as producers and consumers of goods and services. Economic reasoning and interpretation Students use the inquiry process to plan economics investigations about economic issues in the home, school or local community and form conclusions supported by evidence. VIC Physical, personal and social learning Interpersonal Development Working in teams Students work effectively in different teams and take on a variety of roles to complete tasks of varying length and complexity Students accept responsibility for their role and tasks Interdisciplinary learning Communication Listening viewing and responding Students ask clarifying questions about ideas and information they listen to and view QLD SOSE Essential Learnings by the end of Year 7 Economic systems involve primary, secondary, service and knowledge industries that use resources and develop products and services for sale to consumers SOSE Essential Learnings by the end of Year 7 Economic systems involve primary, secondary, service and knowledge industries that use resources and develop products and services for sale to consumers WA *Curriculum is aligned to year levels indicated by the Australian Curriculum WA K-12 Syllabus Scope and sequence: Year 6 Economics WA K-12 Syllabus Scope and sequence: Year 7 Economics

2 Lesson Plan - continued Comparative Shopping Curriculum Year 5 Year 6 SA Social Systems 3.11 Analyses an example of the flows in provision of a product or service, including links to resources, money, transport, technology and communication, considering fairness for human and environmental sustainability Social Systems 3.11 Analyses an example of the flows in provision of a product or service, including links to resources, money, transport, technology and communication, considering fairness for human and environmental sustainability NT SOSE Soc 3.5 Enterprise Examine the relationship between consumers and producers appraising choices and actions used to meet needs and wants; identify the relationship between personal attributes, needs, wants and future life roles SOSE Soc 3.5 Enterprise Examine the relationship between consumers and producers appraising choices and actions used to meet needs and wants; identify the relationship between personal attributes, needs, wants and future life roles TAS Society & History Interconnections between systems Standard 4: Stage 10 Understand how goods and services respond to consumer demand Society & History Interconnections between systems Standard 4: Stage 10 Understand how goods and services respond to consumer demand ACT 24.LC.11 [Learn to] compare goods and services (e.g. functions, features and prices) and make judgements about value for money 24.EA.9 [Learn to] evaluate a range of consumer information and justify purchasing choices (e.g. product appraisals, advertising claims, comparative prices, value for money, warranties, additional costs and charges)

3 Lesson Plan Comparative Shopping Lesson Objectives Students will learn the importance of and strategies for comparative shopping. Students will also understand that purchases often have hidden costs that they need to take into account when comparative shopping. Time Allowance One 90-minute session or two 45 minute sessions. Materials and Preparation Pens and/or pencils. Copies of the Comparative Shopping worksheet (one per group of students). Copies of the Hidden Costs worksheet (one per group of students). Copies of the Crossword Puzzle worksheet (one per student). Internet access for students. Suggested Introduction 1. Discuss with students if they have ever bought something, and then later wished they hadn t. Why did they regret choosing that particular article? 2. Ask if any students have ever bought something on sale and then found the deal wasn t as good as they had thought it would be. What were the factors that made this purchase unsatisfactory? 3. List all possible reasons on the board. Teaching Points 1. Have students list the top three criteria they look for when buying: 1.1 A pair of jeans. 1.2 A mobile phone. 1.3 A laptop. 2. Have them consider criteria such as price, brand, quality, durability, look, usability, etc. Discuss the results. Do any students have a criterion common to two or all three items? What are they? Determine which criterion is most important to the majority of students. 3. Arrange students in small groups. Give each group a different item to research. These must be items that are appropriate for the class and will have hidden costs. These might include: a laptop, a games console (e.g., PS3, Xbox, Nintendo DS), a scooter, a mobile phone, a pet, etc. Make sure that the item assigned to each group is very specific (i.e., a certain model of laptop, rather than just a laptop. This ensures they will learn to compare prices on specific items. If necessary, students can choose which particular model/make they will research.). 4. Hand out one Comparative Shopping worksheet per group. Instruct students to establish a base cost for their item from three different providers or websites and then find the best deal possible. Have the students record their answers on the Comparative Shopping worksheet. 1

4 If necessary, the lesson could be concluded at this point, and the research completed individually for homework. Otherwise, continue with research in the classroom. 5. Ask each group to present its findings to the class and explain why their chosen item is the best deal. Reasons might include best price, best quality, or most reliable vendor. 6. After each group has presented its findings, introduce the idea of hidden costs. Ask the students what they think hidden costs are, and what kind of hidden costs might apply to their items. Aim to have each group raise at least one hidden cost. 7. Brainstorm a list of all possible hidden costs on the board. They will use this list to complete the next stage of the activity. This list might include warranties, shipping costs, servicing, anti-virus programs, etc. 8. Have each group pass their Comparative Shopping worksheet on to the next group. The second group must now find any associated hidden costs related to that item. They must look at the three providers the first group found and consider whether any of those include hidden costs. Instruct the students to pay particular attention to how much shipping will cost with each provider. 9. Considering all these factors, have the second group report whether it agrees or disagrees with the first group s decision as to which item offers the best value. Have each group explain its decision to the class. Consolidation 1. As a class, discuss the difference in price that hidden costs can make. Ask groups what they learned about the difference between considering hidden costs and not considering hidden costs. Choose one group and, as a class, calculate how much they would have spent had they looked at hidden costs, as opposed to how much they would have spent had they not looked at hidden costs. 2

5 Comparative Shopping Item: Group A Provider: (TIck one of the boxes) Online URL: Local Cost: Important Details: (i.e. is this item on sale or not? Is this a limited-time offer? Is the quality, brand, durabiliy, look etc., the same as the others?) Provider: (Tick one of the boxes) Online URL: Local Cost: Important Details: (i.e. is this item on sale or not? Is this a limited-time offer? Is the quality, brand, durabiliy, look etc., the same as the others?) Provider: (Tick one of the boxes) Online URL: Local Cost: Important Details: (i.e. is this item on sale or not? Is this a limited-time offer? Is the quality, brand, durabiliy, look etc., the same as the others?)

6 Hidden Costs Group B Provider: Cost of Item: Provider: Cost of Item: Provider: Cost of Item: Possible Hidden Costs Possible Hidden Costs Possible Hidden Costs Hidden Cost Price Hidden Cost Price Hidden Cost Price

START SMART SAVING GOALS. Suggested Introduction. Teaching Points. Consolidation. Curriculum Points. Lesson Objectives

START SMART SAVING GOALS. Suggested Introduction. Teaching Points. Consolidation. Curriculum Points. Lesson Objectives Lesson Objectives 4 Students will recognise the value of saving and appreciate that saving empowers people to get what they want 4 Students will also understand that the first step to saving effectively