How Much Does It Cost In Russia?

 

Type:               Single lesson plan

 

Length:            One Class period

 

Keywords:            mathematics, social studies, rubles, currency exchange

 

Grade Levels:            5-12

 

Overview:        In this lesson, students will learn about currency exchange and how to compare prices between the U.S. and Russia.

 

Supplies:         For each student:  newspaper, copy of "Items purchased in Russia" attachment, calculator (optional) and print out of rubles (found at www.gwu.edu/~slavic/golosa/ruble.html)

 

Standards:       Mathematics:  number sense, properties, and operations - Strand 1 - NPO.1.0, NPO.1.1

                        Social Studies:  Interdependence - Strand 1 - 1.1.13, 1.1.15

                                                Cultural Perspectives - Strand 3 - 3.1.1

 

Standard Source:            Arkansas Mathematics Curriculum Frameworks and Arkansas Social Studies Curriculum Frameworks

 

Objectives:            Students will be able to:

                        *  understand the value of money in U.S. and Russia

                        *  establish and use currencies

                        *  use subtraction, multiplication, and division in solving cost differences

 

Strategies:       The teacher will display on a table or desk a few items from the "Items purchased in Russia" attachment with large colorful price tags in rubles attached to each item.  The teacher will start class by asking if the students would be willing to pay the price marked on each item.  Why or why not?  Does anyone know if these are good prices or bad prices?  How could one find out if these were good prices or not?

 

Instruction:       The following is a "script" that a teacher can follow if so desired. Give each student a facsimile of the ruble and discuss the differences and similarities to the dollar.  Explain the Russian ruble is like our dollar.  Pass out the newspapers and help students find the currency exchange in the business section.  Aid the students in the finding the exchange between Russia and the U.S.  On the board work the exchange rate for the first item, a Coke.

                        1)  $1.00 = 31 rubles

                        2)  Coke cost at Wal-Mart = $1.15

                        3)  Coke cost in Russia =

                        4)  Where will the Coke cost the most?

5)  Students must calculate how much the cost of a Coke from Wal-Mart would be in rubles by multiplying 31 times 1.15 which will equal the cost in rubles

6)  Subtract smallest number from larger number finding the difference and concluding "where the Coke would cost             the most?"

Repeat this procedure with other items from the display or list.

 

 

 

 

Extensions:      Have students look up the average income for both the U.S. and Russia in 2003.  Using these numbers, students can calculate the differences in incomes.  Have the students write in paragraph form a conclusion on the          percentage of income spent on these items.

 

Assessment:     The students will demonstrate their understanding of the currency exchange and price comparison process through answers to conversion problems.

 

 

 

Items Purchased in Russia                            Russia                          Wal-Mart    

 

Coke in plastic bottle                                        20                                      .80

Bottled water                                                     20                                    1.00

KitKat candy bar                                            10                                     .38

MacDonald's Happy Meal                              107.5                               2.47

Children's ABC book                                         20                                    4.50

Gasoline (1 liter 92 Octane)                                  9                                     1.35

loaf of white bread                                          6                                     1.00

3 bars of soap                                                    35                                      .97

Shampoo                                                          135                                    .88

Dozen Eggs                                                      20                                      .92