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How Does Money Work – week 1


In Inquiry, Year 3/4D and 3/4BB we have been learning all about the topic “How Does Money Work?”.

On Monday 3/4D and 3/4BB paired up and did interviews about money. I interviewed Olivia and some of the questions and answers I got from her were: “Do you own a bank account?” and she replied with- “yes its with the commonwealth bank”. I also asked Olivia if she earned pocket money and she said that she did. Below are some photos taken during our paired interviews:

On Tuesday we tuned into our new topic “HOW DOES MONEY WORK?” We learnt what Tuning In is. First we made a definition of what we thought Tuning In was and then we looked at a poster of what Tuning In really was.

Our definition said that Tuning In was:

* The start of an inquiry unit

* it gets us excited

* It is sharing what we already know

* listening to what others know

* an introduction to the topic

* brainstorming ideas for the topic and

* thinking about what we want to learn.

The poster said that Tuning In is: getting excited about the topic and finding out what we already know.

We brainstormed questions that we had about the topic. Some of our questions that we would like to find out include:

* When did money start?
* How was money made?
* Why are their certain colours for certain notes?
* What are some of the currencies in other countries?
* Why are there different people on coins and notes?

On Thursday we got into groups of 4 and brainstormed what we can buy with money and that was including Goods and Services. After that we got a new piece of paper and split it in half. On one side we wrote all the Goods and on the other we wrote Services.

Goods are things that we buy, hold and use. Services are when you go to a place and they do something for you.

inquiry 7

On Friday we pretended that we had unlimited money. We made a wish list of the things we wanted the most. Lots of people had mansions and apple stuff. We chose our top 3 favorites and we guessed how much money they each cost and researched it on the internet.

What do you already know about How money works?

What do you want to find out about money?

What was your favourite part of inquiry this week?

If money was no object what would you like to buy? Why?

Blog post written by Tom, Dan, Georgia and Ayva

by posted under Uncategorized | 13 Comments »    
13 Comments to

“How Does Money Work – week 1”

  1. July 19th, 2015 at 7:00 am      Reply abbey monster Says:

    Hi Guys
    I hope that everyone gets the answers they want and more
    From Abbey

  2. July 20th, 2015 at 7:15 am      Reply Theresa Says:

    Wow!! Looks like you guys are learning HEAPS, and you guys have only ‘tuned in’! I know that money can be used to get things, such as buying food, clothes and toys. You can also store your money that you don’t need in a bank to keep it safe. I think that money is really important to people, and it helps us a lot in our everyday lives. In the 5/6 learning space we are doing Business. We recently wrote our preferences on a business that we would like to work in, because we are going down to the little Mt Waverley shopping place to work for 4 sessions. Anyway, everyone is doing a great job and I wish you all the best for the future. I am sure that you will learn heaps, and I can’t wait to see your amazing work.
    Theresa 🙂

  3. August 11th, 2015 at 6:21 am      Reply AK47 The Minion Says:

    Hi guys,
    Again same as Abbey,
    I hope you got answers and what you needed.
    If there is anything else you want to tell us about please do!
    Now to answer questions-
    So I know that money can be used for payment in goods and services.
    I know you can use money in good or bad ways. 🙂 or 🙁
    From Ayva

  4. August 11th, 2015 at 6:25 am      Reply AK47 The Minion Says:

    Hi guys,
    I want to find out why there are certain colours and people on notes.
    I want to find out why they took away 1c 2c coins and $1 $2 notes.
    Why are their only gold and silver coins.
    When was money invented.
    Who invented money.
    Why was money invented.
    How much money is in the world.
    How much money gets made every day at the mint.
    How much money does Australia have.
    From Ayva

  5. August 11th, 2015 at 6:27 am      Reply AK47 The Minion Says:

    Hi guys,
    My favorite part was when we got into groups of 4 and had to brainstorm things we could buy with money.
    Then we had to list it into goods and services.
    From Ayva

  6. August 11th, 2015 at 6:30 am      Reply AK47 The Minion Says:

    Hi guys,
    If money was no object I would buy…..
    Everything I need and want!
    Because some of it I would need to be healthy and it is nice to
    Have stuff you want.
    Although I will have to question myself because family is all i will ever need or want!
    Please remember that!
    From Ayva

  7. August 12th, 2015 at 10:05 am      Reply joel Says:

    I know you use money to buy things and pay for people to do something for you.
    I have lots of questions here is one why are people on notes and coins.
    My favourite part was when we wrote goods and services.
    Everything i need like food,water.clothes and many more because you need food and water to survive and clothes to wear.
    By Joel

  8. August 25th, 2015 at 8:23 am      Reply Georgia the Unicorn Says:

    Dear Miss Dickson and 3/4D,
    I know that you use money to pay for goods (goods are things that you can physically hold) and services (services are when someone does something for you but MOST of the time you cannot hold it)
    From Georgia

  9. August 25th, 2015 at 8:28 am      Reply Georgia the Unicorn Says:

    Dear Miss Dickson and 3/4D,
    My questions:
    1. why do we have money?
    2. what would happen if we were a cashless society?
    3. If we did become a cashless society what would we use other than credit cards?
    4. What made Sir Robert Wadlow change his mind about naming our currencies “ROYAL”?

    I have loads more questions but I think the page would get cut off if I ask them all!
    From Georgia

  10. August 25th, 2015 at 8:29 am      Reply Georgia the Unicorn Says:

    Dear Miss Dickson and 3/4D,
    Even though this was months ago
    I really enjoyed being able to write
    up this post!
    From Georgia

  11. August 25th, 2015 at 8:34 am      Reply Georgia the Unicorn Says:

    Dear Miss Dickson and 3/4D,
    If money wasn’t an object I would buy all of the things that I want, however if money wasn’t an object nobody would get paid to work so nobody would work and we would have no clothes no objects and we would all die. Unless we weren’t such lazy potatoes and we actually decided to go and pick our fruit and veggies, knit our own clothes!

    From Georgia

  12. August 25th, 2015 at 10:27 am      Reply Mia Says:

    Hi Miss Dickson ,

    I know that to start a bank you can have 5 dollars or cents

    I want to know that if you lose your money and need to pay bills do the bank you go to give you money that you need to pay bills

    From Mia

  13. August 26th, 2015 at 6:08 am      Reply Greeny Says:

    Hi Miss Dickson and 3/4D,
    I learnt a lot learning the difference between goods and services and I thought that it was the best fun ever didn’t you?


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