Standard 4: Identify and compare the different means and risks of saving and investing money, including the impact of inflation and interest rates.

In this Model Eliciting Activity, MEA, students will analyze and compare data from 4 different financial institutions to recommend the best fit for an accounting company. Students will apply mathematical skills such as basic arithmetic, averages, percentages, and weighted scoring to evaluate various banking characteristics including monthly fees, transaction costs, cash deposit costs, and stop-payment fees.

Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. MEAs resemble engineering problems and encourage students to create solutions in the form of mathematical and scientific models. Students work in teams to apply their knowledge of science and mathematics to solve an open-ended problem while considering constraints and tradeoffs. Students integrate their ELA skills into MEAs as they are asked to clearly document their thought processes. MEAs follow a problem-based, student-centered approach to learning, where students are encouraged to grapple with the problem while the teacher acts as a facilitator. To learn more about MEAs visit: https://www.cpalms.org/cpalms/mea.aspx

Type: Lesson Plan