Grade Level: Yrs 7-8
Curriculum Connections: Commerce, Mathematics
Required Software: Microsoft® Excel®,

What's in this Lesson:

• Teacher Guide (including How to Begin)
• Student Activity, Step-by-Step:
  • Step A: Planning the Content
  • Step B: Creating an Outline
  • Step C: Writing a Report

Teacher Guide

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Summary: In this lesson students will investigate what it would cost to furnish one room of their choice by shopping on the Internet. Both Australian and American dollars are to be given for each item to demonstrate the difference between two currencies.  The Comparisons are presented in a spreadsheet format using the features of Excel.

Objectives:

• Develop knowledge and understanding of the commercial activities of consumers

• Develop the ability to inquire and interpret difference is in the rate of exchange between countries

• Use Technology to find and present information on subject matter

Outcomes:

• Recognise the rights and responsibilities of consumers

• Identify factors influencing decisions of consumers

• Describe the way that good and services can be exchanged

Prerequisite Skills: Basic Internet research skills

Time Allotted 3 class sessions

How to Begin:

1.  Brainstorm and list currencies used in a variety of countries such as the Yen, Greenback, Eurodollar and so on. Compare these to the value of the Australian dollar using newspapers or the internet. You may like to discuss why there are discrepancies between the value of these currencies with the students. 

2.  Students are going to compare the cost of furnishing a chosen room in a house to develop a practical understanding of how the differences between currencies effect living costs. Using the Internet, students locate the furniture they would purchase recording the cost of each item in a Microsoft Excel spreadsheet. Students will need to visit both Australia and America websites to compare furnishings and their costs. 

TIP! Encourage students to save their sites to their ‘Favourites’ file in Microsoft Explorer.  

3.  Now that students have created and recorded a list for both American and Australian prices, demonstrate how to insert formulae to calculate the total sum of monies spent in both currencies and the comparable difference between these two totals.

Suggested Resources

Currency Converter

Freedom Furniture

ebay.com.au 

Classifies - pre loved furniture

Vin's Pine Furniture

Lifestyle Furniture

 

Student Activity

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Description: In this lesson you will investigate what it would cost to furnish one room of your choice by shopping on the Internet. Both Australian and American dollars are to be given for each item to demonstrate the difference between two currencies.  The Comparisons are presented in a spreadsheet format using the features of Excel.

Step A Planning the Content
Software: None
What to do:

1.  Each nation has its own currency, brainstorm and list the names of different currencies. Using a newspaper or the internet, locate the value of each currency and compare to the Australian dollar. Why do you think currencies have different values?  Discuss with your teacher and class peers.

2.  So what does it all mean? Lets examine what these figures actually represent in real terms. To understand the true difference of monetary value within countries, we are going to compare the Australian dollar with the American Greenback….so lets go shopping! Imagine your dream home, select one room which you are going to furnish. Using the internet locate those dream pieces of furniture and record the cost of each piece in a Microsoft spreadsheet.  

TIP! For an accurate comparison, remember that when finding costs for both Australian and American products, you will need to locate furniture of similar quality and style. You may like to take note of the sites you visit for future reference by using the ‘Favorites’ feature in Microsoft Explorer.  

3.  Now that you have listed the furniture purchased and its cost in Australian and American dollars, its time to see what actual differences occur. Your teacher will demonstrate how to insert formulae to your spreadsheet to calculate the sum of monies spent and the difference between the two totals.

4.  What were the actual differences? Write a brief analysis of your research outlining your thoughts and ideas on why the differences occur and how this would effect daily spending for families living in the two nations. Discuss your finding and speculations with your teacher and class members.

Step B Creating an Outline
Software: Microsoft Excel
What to do: Calculate costs in both Australian and American dollars:

1. Click in the cell you would like to add text and type in the data including text and numbers.
2. Change the font, font style and colour to suit.
3. Click in the cell where you would like the answer or calculation to appear then click in the function bar.
4. You can add in any formula in excel, the best way to work out how to type it in is exactly the same way that you would type into a calculator

1. “+” – add cell references
2. “-“ – subtracts cell references
3. “*” – multiplies cell references
4. “/” – divides cell references

For example you would type in “=C2+C3” this formula would add together the data in cell C2 to the data in cell C3. To add in the formula that you need to convert the American Dollars into Australian Dollars you would use the following formula:

            =cell reference * 1.37 (the 1.37 stands for the U.S. dollar value at the time)

 You need to add all the information and then the formula in the cell where you would like to see the total dollar amount. For example

 

5. Once you have typed the formula in once you don’t have to type into every cell in the column. Type in the formula then take your mouse to the bottom right hand corner until you see a small black cross. Hold down the left mouse key and drag your mouse down. You will notice that you are selecting the cells as you go. When you are at the last cell, let the mouse go and your formula has been copied down all of the cells.

6. You may need to change the cell format to ensure that money is displayed in dollars and cents values. Highlight the cell you would like to format and from the format menu select cell. Select the Number tab and click on Currency. This will ensure all your monies are displayed as numbers.

7. For further tips and tricks using spreadsheets, see Microsoft Excel Help

Step C Creating the Slides
Software: Microsoft Word
What to do: Sum up all that you have learnt in a report.

1. Import your excel spreadsheet into a Microsoft Word document and write a report to accompany your findings. Include a brief analysis on their research hypothesising as to why and how the value of a nations currency effects the daily living costs of the people.