Beanie Baby Bonanza

Designed by:  Colette Dryden, Satchel Ford Elementary School

1) Core Curriculum Objective:  Estimate, calculate, and justify whether an amount of money is enough to make a purchase.  (3ME2-5)

 Grade Level:  Three          Subject:  Math

2) Overview:  (NOTE:  This should be done after students have been
introduced to adding money.) Students will estimate the cost of 5 Beanie Babies.  They will be told they have $100.00 to purchase the toys.  They will then work in pairs to choose 5 Beanie Babies from the web site.  They will add the cost to reach a total.  They will subtract to find the difference between their estimate and the actual cost.  The students will then write why they chose the toys they did and explain whether they had enough money or not.  They will report the difference between the $100.00 and the actual cost of the Beanie Babies.

3) Focus Question:  How much will 5 Beanie Babies cost?  How much money will we have left from $100.00 if we buy them?

4) Time Frame:  One 1 hour class period

5) Resources/Materials:

  Paper

Pencil

computer lab (If a computer lab is unavailable, adjust time frame accordingly)

assorted Beanie Babies  (optional)

6) Culminating Assessment:  Students will estimate the cost of 5 Beanie Babies of their choice.  They will then add the actual costs.  They will subtract to find the difference between the actual and estimated totals.  They will find the difference between the actual cost and $100.00 and explain if they have money leftover or how much more they would need.  They will then write to explain why they chose the Beanie Babies they did.  The teacher will use the following criteria to score the activity:

Beanie Baby Bonanza Rubric

7) Instructional Activities:

Activity One:  Introduce the activity by leading a discussion regarding Beanie Babies.  Who has a Beanie Baby?  Which is a favorite?  Are there any others you’d like to have?  What do Beanie Babies cost?  Show the students the Beanie Babies you brought in.  Explain that today they will get a chance to go shopping online with a friend.  After heading a piece of paper, have students estimate how much 5 Beanie Babies will cost.  Remind the students that one way to make an estimate is to think about what they already know and make a reasonable prediction based on that knowledge.  It is NOT a wild guess.  Allow for discussion among the partners. 

Have students work in pairs to go to the computer to the Beanie Baby web site:

http://www.beaniesnmore.com/Products/encyclopedia.asp

Tell them they will have to agree on 5 Beanie Babies to purchase.  They only have $100.00 to spend, but they may only buy 5 of the toys.  Show them how to click on a Beanie Baby name in order to see the picture and cost of the toy.  They need to record the name and price of the chosen ones on their paper.  Remind them to line up the numbers accurately and to include the decimal point and dollar sign in all calculations.  Once they have done this, they need to find the difference between their estimation and the actual cost.  The teacher needs to monitor and give assistance as needed.

Have the students find the difference between their total and the $100.00.  Do they have any change left?  If not, how much more do they need?  The partners should assist each other in this process.  Students should write a paragraph explaining the choices of Beanie Babies.  Do they think the costs are reasonable?  Why or why not?  If they had change left from the $100.00, what would they do with it and why?  If they need more money to purchase the 5 toys, how would they earn it? 

Discuss with the students how they can apply this when they go shopping.  If they only have their allowance to spend, do they have to estimate how much they can buy? 

Once students are finished with the assignment, have them share their paragraphs with the class.  Post the “shopping sprees” in the hall and on the school web site.

EXTENSION:  Students can work in pairs to write their own Beanie Baby money problems using the web site.  They can give them to classmates or their key pals to solve. 

HOMEWORK IDEA:  Students can choose 1 favorite Beanie Baby.  Have them calculate how long it would take them to save enough money to buy it if they only received $3.50 each week for an allowance.