Inflation

5th Grade

Ms. Pascarella

INTRODUCTION

Have you noticed how much the price of eggs are? What about gas for your family car? Have these prices changed and by how much?

How does inflation work and why is it affecting you?

Inflation is a rise in prices. Inflation is the increase in the prices of goods and services over time. Well, how does that affect us?

Because of inflation the value of the dollar, also called its purchasing power, reduces every year. So, $50 in five years from now cannot buy the same amount of stuff it can buy today.

https://www.easypeasyfinance.com/inflation-for-kids-beginners/

https://www.investopedia.com/terms/i/inflation.asp

Watch these videos to find out more:

What is Inflation? Inflation Economics for kids

What is Inflation? Easy Peasy Finance for Kids and Beginners

TASK

Objectives - Your group will be taking a “Web Quest” to explore one item inflation, why it is happening to the item and how much it has changed in price. A Web Quest is an Internet search to research and gather information on a topic. Along the way, you will use tools to help you organize the information you find at each step.

Student product- Students will choose one item ( gas, eggs, produce, or toys) and create google slides to explain one item inflation, why it is happening to the item and how much it has changed in price.

Timeframe- 4 of our technology class periods

PROCESS/RESOURCES

During the WebQuest you will be using links, videos, articles and images to help find out more about inflation of your item.

In each section there will be a task or question you will complete.

If you need more help or need to clarify something you can go back to other parts and use the links to help you.

Step 1: Define the Problem

At home, school and in our life things that we buy regularly have gone up in price. Why are prices going up? What is the cause of inflation? Brainstorm with your group some reasons as to why students are encountering these problems.

Step 2: Gather the Evidence

With your group, discuss items that you have seen the price went up. After you have made your list choose one item that you would like to research more about its prices.
With your group, read and discuss what inflation is, the reason why the item you choose is going up in price.

Use some of the resources below:

● https://www.easypeasyfinance.com/inflation-for-kids-beginners/

● https://www.investopedia.com/terms/i/inflation.asp

● https://roostermoney.com/us/talking-about-inflation/

● https://kids.britannica.com/students/article/inflation/275058

● https://kids.kiddle.co/Inflation

● 14 million bolivars for a chicken: Venezuela hyperinflation explained

● https://newsela.com/interactive-videos/cl3olyiav003r09oifkf6dpsi/

● Overview of the economic problem known as inflation

● Inflation is healthy for the economy — but too much can trigger a recession

● Parents ready to send kids back to school, but inflation means high prices

● Why is my ice cream cone so expensive? An inflation explainer

Step 3: Analyze the Data

Let’s analyze the data and what you found! What have we found out!

Answer the following questions with your group.

What is inflation?
Why does inflation happen?

Step 4: Identify the Causes

Based on the data we’ve collected, why do you think there's inflation for your item?

Step 5: Evaluate the Existing Policy

Now that we know more about inflation, let’s discuss the reasons:

Reasons for inflation

Step 6: Develop A Solution

With your group, you will create a a google slide presentation. Remember to How to create a google slide and go to our Google Classroom for your copy of slides. On the slides, you will do the following:

Explain what inflation is.
Describe your item and why it is important to your group
Explain why your item has increased in price
Write a problem or math equation about the price of your item
Explain what we can do about the inflation

Remember to use the information from the resources that you learned about during your research.

EVALUATION

	4	3	2	1
Group Work	Helps identify and meet group goals.	Identifies group goals and works toward them almost all the time.	Identifies group goals and works toward them some of the time.	Not contributing to group goals or working against them.
Knowledge of Content	The project shows understanding and knowledge of the topic.	The project shows understanding and knowledge of the topic.	The project shows understanding and knowledge of the topic.	The project shows limited understanding and knowledge of the topic.
Presentation of Content- Google slides	Slides are clear, organized and have each part of the project.	Slides are mostly clear, organized and have each part of the project.	Slides are somewhat clear, organized and have each part of the project.	Slides are not clear, organized and have each part of the project.
Math work	Math is clear, correct and explained	Math is mostly clear, correct and explained	Math is somewhat clear, mostly correct and not explained.	Math is not clear, not correct and not explained.

CONCLUSION-

Great job learning about inflation and how it has affected the item you focused on. Let's think about some of these questions now that we learned about inflation.

● Why is inflation happening so much now?

● Could there be ways to solve inflation?

STANDARDS

● 5W6: Conduct research to answer questions, including self-generated questions, and to build knowledge through investigation of multiple aspects of a topic using multiple sources.

● 5W7: Recall relevant information from experiences or gather relevant information from multiple sources; summarize or paraphrase; avoid plagiarism and provide a list of sources.

● 5SL4: Report on a topic or text, sequencing ideas logically and using appropriate facts and relevant, descriptive details to support central ideas or themes; speak clearly at an understandable pace and volume appropriate for audience. 5SL5: Include digital media and/or visual displays in presentations to emphasize and enhance central ideas or themes.

● 5SL6: Adapt speech to a variety of contexts and tasks, using formal English when appropriate.5SL1: Engage effectively in a range of collaborative discussions with diverse partners; express ideas clearly and persuasively, and build on those of others.

● 5SL1a: Come to discussions prepared, having read or studied required material; draw on that preparation and other information known about the topic to explore ideas under discussion.

● 5SL1b: Follow agreed-upon norms for discussions and carry out assigned roles.

● 5SL1c: Pose and respond to specific questions by making comments that contribute to the discussion and elaborate on the remarks of others.

● 5SL1d: Consider the ideas expressed and draw conclusions about information and knowledge gained from the discussions.

● 5SL2: Summarize information presented in diverse formats (e.g., including visual, quantitative, and oral).

● 5SL3: Identify and evaluate the reasons and evidence a speaker provides to support particular points.

● NY-5.OA 3. Generate two numerical patterns using two given rules. Identify apparent relationships between corresponding terms. Form ordered pairs consisting of corresponding terms from the two patterns, and graph the ordered pairs on a coordinate plane.