Multiplying Fractions
Hi Grade 5,
here is a great site to use to practice multiplying fractions. You can also apply your knowledge to solve word problems. Click here for the site.
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February 11, 2010
Budget & Costs
Today, Marc's dad Pedro visited us to help grade 5 learn more about budgets and costs. This was perfect timing, as companies involved in the Trading Game are now required to pay many of their own costs including: rent, materials and salaries. Employees, what did you learn today during our session with Pedro? What were your reactions to this new requirement? What was your company's balance after you paid out your costs? How did this change affect pricing of your items? What questions do you still have?
February 9, 2010
Supply & Demand
Employees involved in the Trading Game experienced the link between supply & demand and pricing yesterday.
Due to factors outside the producers' control, some companies were unable to produce certain products. This meant that only one company had fruit to sell. There was also only one company that was selling cotton.
Grade 5, what happened to the prices when different groups realised they had little or no competition? How did low supply and high demand affect pricing? There were also many groups producing some of the same products, for example bags and jewellery. What happened to the pricing when there was lots of competition?
February 5, 2010
Parent Economy Experts
At the beginning of our current unit, Grade 5 students brainstormed ways that we could investigate our lines of inquiry. One of the resources they suggested were people who work in the business world. Luckily, several parents offered to come and talk to the classes about their experiences, and to answer questions.
Kevin Garrow joined grade 5 to talk to the students about stocks, bonds and investment. Students were invited to learn more about stocks by choosing a company to 'invest' in. Everyone was asked to find the company's 'ticker' and buy price. We will compare the buy price and sell price of our stocks on the last day of term.
Pierre Cherki visited us to tell the class about his work in real estate investment. Grade 5 students asked many excellent questions which we discussed together. Please keep reading for examples of student questions:
What happens if a company can't afford to pay rent?
How has the credit crunch affected the economy?
How long has this system of loans and rent been working for?
Does investing ever go wrong?
Is your bank international?
How does location affect rent?
Is the economy getting better?
Do offices or shops pay more rent?
How do you decide if real estate prices should go up or down?
What branch of the bank do you work in?
How do you spell 'Deutsche Bank'?!
Today Keiko's dad, Chris, came to talk to grade 5 about the credit crunch. Students were split into 4 groups: the banks, the investors, the entrepreneurs and the real estate owners. They carried out a range of simulated actions such as: investing in companies, taking out loans, paying interest, buying and selling real estate, and hiring and firing employees. Through this activity, students were able to better understand why the credit crunch happened and how the parts of the economy are linked and interdependent. It was a fantastic session, and we learned a lot. Students have been asked to leave questions, comments and new learning below.
Marc's dad Pedro visited us today to talk to grade 5 about budgets and costs involved in running a business. This was perfect timing, as companies in the Trading Game have just been asked to start paying their own salaries to employees, for the cost of materials and rent for their workspaces. Grade 5 students learned much and asked many relevant questions.
February 4, 2010
Outside Factors Affecting Trade
There are often external factors in the economy that affect production and trade. 'Companies' in the Trading Game experienced this yesterday. Some companies were not able to produce many pots because clay had become expensive. Another company had lost farm lands and was not able to grow certain fruits. The outside influences meant that companies needed to be flexible in their systems of production. The effect these factors will have on trade is yet to be established.
Visiting 'Big Buy Inspectors' supervised our valued employees in action yesterday. They asked the staff members questions like:
What is your role in the company?
Why do you think you are qualified for this role?
Tell me about your company’s system for producing goods?
What improvements have you made since production began last week?
How do you ensure quality of your goods?
Big Buy employees are encouraged to post parts of their reflections and highlights from Team Meetings on the blog!
