Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Topic Overview
Topic BAFS – Strategies and Management
E4: Resources Management – Nature of Money
Level S3
Duration 3 lessons (40 minutes per lesson)
Learning Objectives:
1. Understand the concept of bartering,
2. Understand the nature and functions of money,
3. Understand the characteristics and functions of cheque,
4. Understand the nature and functions of different types of electronic money, 5. Be aware of different types of credit cards and their nature,
6. Understand the concept of foreign currency, and 7. Understand the operation of foreign exchange system.
Overview of Contents:
Lesson 1 Barter System and Functions of Money
Lesson 2 Cheque and Electronic Money
Lesson 3 Foreign Currency
Resources:
Topic Overview and Teaching Plan
PowerPoint Presentation
Suggested Activities:
Class Discussion
In-class exercise
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Lesson 1
Theme Barter System and Functions of Money Duration 40 minutes
Expected Learning Outcomes:
Upon completion of this lesson, students will be able to:
1. explain the concept of bartering,
2. explain the nature and functions of money.
Teaching Sequence and Time Allocation:
Activities Reference Time
Allocation Part I: Introduction
Teacher starts the lesson by a discussion of monopoly game, then raises the function of money.
PPT #2 – 3 5 minutes
Part II: Content
Teacher explains the concept of bartering and its problems.
Teacher explains the invention of money which is to cope with the problems of bartering.
Teacher further explains the functions of money.
PPT #4 – 6
PPT #7
PPT #8 – 11
6 minutes
2 minutes
13 minutes
Activity 1: In-class exercise
Students are invited to describe a HK$10 note.
Teacher goes through the answer with students and makes conclusion.
PPT #12
PPT #13 – 14
4 minutes
8 minutes
Part III: Conclusion
Teacher concludes the lesson by reviewing the key points covered.
2 minutes
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Lesson 2
Theme Cheque and Electronic Money Duration 40 minutes
Expected Learning Outcomes:
Upon completion of this lesson, students will be able to:
1. describe the characteristics and functions of cheque,
2. describe the nature and functions of different types of electronic money, and 3. name different types of credit cards.
Teaching Sequence and Time Allocation:
Activities Reference Time
Allocation Part I: Introduction
Teacher recaps the concept and functions of money.
2 minutes
Part II: Content
Teacher explains the nature and characteristics of a cheque and its functions.
Teacher introduces electronic money with examples.
Teacher introduces the features and usage of Octopus card
PPT #2 – 4
PPT #5
PPT #6
7 minutes
3 mintues
2 minutes
Activity 1: Class discussion
Students are required to list five usages of Octopus card.
Teacher goes through answers with students and makes conclusion.
PPT #7
PPT #8
3 minutes
1 minute
Teacher introduces EPS and Paypal.
Teacher introduces credit cards and explain its function. It is important to highlight credit card cannot be regarded as money. In fact it is a short-term borrowing.
PPT #9 – 10 PPT #11
7 minutes 5 minutes
Activity 2: Class discussion
Students are required to list the major types of credit cards used in HK.
Teacher goes through answers with students
PPT #12
PPT #13
2 minutes
1 minute
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
and makes conclusion.
Teacher explains the benefits and drawbacks of using credit cards.
PPT #14 – 15 5 minutes
Part III: Conclusion
Teacher concludes the lesson by reviewing the key points covered.
2 minutes
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Lesson 3
Theme Foreign Currency Duration 40 minutes
Expected Learning Outcomes:
Upon completion of this lesson, students will be able to:
1. explain the concept of foreign currency,
2. describe the importance of foreign exchange, and 3. demonstrate simple conversion of currencies.
Teaching Sequence and Time Allocation:
Activities Reference Time
Allocation Part I: Introduction
Teacher discusses the needs of foreign currency by an illustration of overseas travel.
PPT #2 6 minutes
Part II: Content
Teacher explains the meaning of foreign currency.
PPT #3 3 minutes
Activity 1: In-class exercise
Students are requested to name the countries and describe different foreign currency signs.
Teacher goes through the answer with students and makes conclusion.
PPT #4
PPT #5
2 minutes
2 minutes
Teacher explains the meaning and functions of foreign exchange in international trade.
Teacher explains the concept of exchange rate and exchange rate risk and introduces linked exchange rate system in HK.
PPT #6 – 8
PPT #9 – 10
8 minutes
10 minutes
Activity 2: In-class exercise
Students are required to translate foreign currencies into HKD. Teacher may teach students how to use exchange rate table to convert foreign currency into HKD.
Teacher goes through the answers with students and makes conclusion.
PPT #11
PPT #12
4 minutes
3 minutes
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Part III: Conclusion
Teacher concludes the lesson by reviewing the key points covered.
2 minutes
1 2
3
Before the discussion of the nature of money, teachers can describe the barter system to let students understand why ‘money’ was created.
4
5
Teacher can discuss some other problems with students:
1. Not easy to find people with coincidence of wants.
2. Not easy to reach an agreeable exchange rate between 2 parties.
3. Some kinds of goods/services are not divisible.
4. Some goods are perishable.
6
Money is therefore created to cope with the problems in the barter system.
7
It is the unit of measurement that help people to assess the value of an item.
8
9 10
11 12
Teacher checks the answers with students.
13
Teacher can explain the watermark has been one of the security features against any counterfeit notes
14
15 16
17 18
19 20
21 22
23 24
25 26
Teacher asks students and see whether they know the common types of credit cards in HK.
27
Teacher may discuss different types of credit cards which are issued by different providers such as visa and master card. But the functions are more or less the same. It is not necessary to discuss in detail for their differences because we are not promoting the use of different cards.
28
29 30
31 32
Ask students whether they have overseas travel experience or not. Ask them if they can use HKD during their trips. If not , what should they do?
Student should know that they may not be able to pay Hong Kong dollars there and what they need is the local currency of that country.
33 34
35 36
Teacher explains that foreign exchange is needed not only for overseas travelling but also for international trade.
37 38
Teacher explains the importance of international trade including importing goods from other countries at a lower cost. As higher demand allows mass production and producers can enjoy economies of scale which will at the end lower the average cost of production.
39
Teacher explains the concept of exchange rate in foreign exchange by using previous examples such as overseas travelling or international trade.
40
Teacher explains the concept of exchange rate risk for both personal and business operations. It will be favourable if you buy foreign currency at low exchange rate and sell at a high rate.
41
Teacher may teach students how to read the table on top right corner to let students have more ideas about how to convert foreign currency into local currency.
42
43 44
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.1
Section A: Multiple Choice Questions (@1, total 10 marks) 1. Which of the following is the problem of a barter system?
A. The traders must accept the exchange of goods or services.
B. It is difficult to find someone to trade.
C. There is no goods for exchange.
D. The exchange may not be fair.
Level of difficulty: *
2. Which of the following is not a good description of money?
A. An indication of wealth.
B. A unit of account.
C. A store of value.
D. A medium of exchange in transactions.
Level of difficulty: *
3. Which of the following is responsible for governing the issue of bank notes in Hong Kong?
A. Central Bank.
B. Hong Kong Monetary Authority.
C. Hong Kong Government.
D. Hong Kong Stock Exchange.
Level of difficulty: **
4. Which of the following is not the issuing bank for Hong Kong bank notes?
A. Hong Kong and Shanghai Banking Corporation Limited.
B. Standard Chartered Bank.
C. Citibank.
D. Bank of China (Hong Kong) Limited.
Level of difficulty: *
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.2
5. Which of the following is not a party involved in a cheque?
A. Drawer.
B. Drawee.
C. Payee.
D. Buyer.
Level of difficulty: **
6. Which of the following is not an electronic money?
A. Octopus card.
B. Cheque.
C. Electronic payment services.
D. Paypal.
Level of difficulty: *
7. Which of the following is not the benefit of using credit card?
A. Convenient.
B. Low interest.
C. Earning of reward points.
D. Credit period.
Level of difficulty: *
8. The dollar sign for Great British Pound is:
A. £.
B. ¥.
C. €.
D. ₩
Level of difficulty: *
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.3
9. How much Japanese Yen does HKD100,000 equal to at an exchange rate: Yen10,000:
HKD722?
A. 139 Yen B. 138,504 Yen C. 722,000 Yen D. 1,385,042 Yen.
Level of difficulty: ***
10. Which of the following situations will lead to a loss in foreign exchange?
A. An investment in AUD when AUD keeps rise.
B. Travel to Japan when JPY drops.
C. Buy goods in RMB when RMB rises.
D. Sell goods in RMB when RMB rises.
Level of difficulty: ***
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.4
Section B: Short Questions (20 marks)
** 1. How can money solve the problems of the barter system? (8 marks)
** 2. List four types of retail business in Hong Kong that accept octopus card for payment.
(4 marks)
*** 3. Translate the following foreign currencies into HKD by using the exchange rate given below.
Foreign Currency Exchange Rate HKD Equivalent
USD8,000 1:7.78 ?
JPY82,000 10,000:730 ?
EUR12,000 1:10.32 ?
TWD33,000 1:0.268 ?
RMB20,000 0.77:1 ?
(8 marks)
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.5
Suggested Solutions
Section A: MCQs
1. B 2. A 3. B 4. C 5. D
6. B 7. B 8. A 9. D 10. C
Section B: Short Questions.
Question 1
Money can be used as a store of value that allows people to transfer purchasing power from present to future because we can save the money for future use.
A barter does not allow people to do so when the goods are perishable.
Money can avoid the problems of coincidence of wants arising from barter because it can be used as a medium of exchange for buying goods and services.
Money allows greater specialization and trade and productive efficiency because it is not necessary for you to find someone with coincidence of wants.
(@2, total 8 marks)
Question 2
Four types of retail business in Hong Kong that accept octopus card for payment include:
• Supermarkets.
• Vending machines.
• Convenience stores.
• Cake shops.
• Grocery.
• Any other retail business.
(@1, max 4 marks)
Resources for the TEKLA curriculum at Junior Secondary Topic 4 Nature of Money Strategies and Management – Extension Learning Element
Module E4 Resources Management
Classwork/Home Assignment P.6
Question 3
Foreign Currency Exchange Rate HKD Equivalent
USD8,000 1:7.78 62,240
JPY82,000 10,000:730 5,986
EUR12,000 1:10.32 123,840
TWD33,000 1:0.268 8,844
RMB20,000 0.77:1 15,400
(@2, total 8 marks)
