{"id":219,"date":"2016-04-01T10:15:02","date_gmt":"2016-04-01T17:15:02","guid":{"rendered":"https:\/\/blogs.ubc.ca\/mrrobsonwindermere\/?page_id=219"},"modified":"2016-04-01T11:03:08","modified_gmt":"2016-04-01T18:03:08","slug":"lesson-2","status":"publish","type":"page","link":"https:\/\/blogs.ubc.ca\/mrrobsonwindermere\/grade-8\/lesson-2\/","title":{"rendered":"Lesson 2"},"content":{"rendered":"

Plan for the day:\u00a0\"\"<\/strong><\/span><\/p>\n

Show budget examples: 15 minutes<\/strong><\/p>\n

*Scavenger hunt outside*: 25 minutes\u00a0<\/span><\/strong><\/p>\n

Back in the lab to enter hunt data (and find more\u00a0data): 25 minutes\u00a0<\/strong><\/p>\n

Discussion about prices and their variability : 5 min<\/strong><\/p>\n

 <\/p>\n

Budgets:<\/span><\/strong><\/p>\n

Can be for time or money. More often, it’s money that’s budgeted.<\/p>\n

Example 1: Monthly household budget<\/strong><\/p>\n

\"\"<\/p>\n

Example 2: Travel\u00a0budget calculator<\/strong><\/p>\n

http:\/\/www.independenttraveler.com\/travel-budget-calculator<\/a><\/p>\n

Example 3: VSB budget.\u00a0<\/strong><\/p>\n

Each year, the VSB gets about $400 million from the government mostly (and a few other sources, like investments). This money is spent on Vancouver students’ educations; for example, teacher salaries, school programmes, building maintenance, and more. The budget was just announced this week and the big news is that there’s a “shortfall” of $27 million. That is, the amount the VSB needed\u00a0to spend is $27 million more than what was given to them.<\/p>\n

The VSB, by law, must therefore either find an extra $27 million OR cut spending by $27 million this year. What would you do?\u00a0<\/span><\/strong><\/p>\n

Example 4: Time budget.<\/strong> This is very useful because, unlike with money, everybody starts each day with the same 24 hours to work with. How you use it becomes increasingly up to you as you get older.<\/p>\n