Students participate in a puzzle activity to identify leadership characteristics that Abraham Lincoln possessed. They review the changes in the redesigned $5 note and consider how LincolnŐs leadership characteristics contribute to the fact that he is pictured on the $5 note. Students look at a timeline of LincolnŐs life and identify significant events in his road to the White House. They play a game to review content learned in the lesson.
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Since 1920, women have more than doubled their share of the labor force. More women are working, but has the type of work they do advanced similarly? What were the top occupations for women 20, 60, and 100 years ago, and how do those occupations compare with women's choices today? In this lesson, students use primary documents to review historical trends in women's share of the labor force and chosen occupations. Using Barbie careers as a timeline, they speculate as to why Barbie represented certain careers for girls at different points in time since 1959. They choose which career Barbie might represent next year and explain that choice in a one-page essay. This lesson includes primary source documents obtained from FRASER¨.
In this lesson, students listen to a story about Beatrice, a little girl from Uganda, who receives a goat and the impact of that goat on her family. They learn what it means to save and use estimation to decide whether or not people have enough money to reach a savings goal. They also work through a set of problems requiring that they identify how much additional money people must save to reach their goals. Students learn what opportunity cost is and identify the opportunity costs of savings decisions made by Beatrice and her family.
Students will learn that money is an invention. They will read and analyze an essay focusing primarily on one aspect of Ben FranklinŐs lifeŃhis work as a printerŃand how he was an inventor and entrepreneur who also promoted the use of currency in the United States. Students will cite specific textual evidence regarding problems and solutions and will answer questions and complete a timeline. By using evidence and information gleaned from text, students will write a fictitious social media post defending the selection of Ben FranklinŐs portrait for the $100 note.
In this lesson, students hear a story about Brother and Sister Bear, who seem to want everything. The little cubs learn that they must make choices because they cannot have everything they want. Students follow along with the story by completing an activity listing all of the goods that will satisfy the cubs' wants. The students then take part in an activity to construct a word web and graphic organizer (table) to identify goods that will satisfy a want. They will make a choice, identify the problem of scarcity, and recognize their opportunity cost.
In this lesson, students make a choice about what they want to eat for dinner, but then they are asked to trade with a partner and discuss whether they like their new dinner better. Based on this discussion, they learn about preferences and how they help us make choices. Students then hear a story about a little bear who looks at many hats to see if he can find a new one he likes. Students will relate key concepts from the lesson to the story and create a hat to discuss their own choices and preferences with the class.
In this lesson, students hear a story about two little bears whose parents use several figures of speech relating to money. Students draw a picture of a bank and write a caption explaining their illustration. Students follow along with the story by listening for additional figures of speech and how they relate to the concepts of banks and interest. The students also construct a story map of an event in the story relating to why people choose to keep their money in banks.
In this lesson, students listen to the story of Ruby and Max, two bunnies that go shopping and make many spending decisions. They are introduced to short-term and long-term savings goals to help them save for the goods they want in the future. After a goal-sorting activity, students choose and illustrate their own savings goal.
Cards, Cars and Currency is a curriculum unit that challenges students to become involved in three specific areas of personal finance: credit cards, debit cards and purchasing a car.
Students listen to a story about P.B. who thinks money is missing from the peanut butter jar on his window ledge. In addition to basic concepts of saving and spending, students learn currency equivalency and some measurement concepts.
Students read A Chair for My Mother, about a little girl and her family who save money to buy a chair after their furniture is destroyed in a fire. Students learn that characters in the book are human resources who save part of the income they earn. Students identify other human resources, discuss how their work allows them to earn income and name strategies that will help them reach a savings goal. (Book written by Vera B. Williams / ISBN: 068804074-8)
As the Rolling Stones song says, "You can't always get what you want." So we make choices. Every day, governments and individuals choose how much money to spend and what to purchase. The January 2013 issue discusses opportunity costs and scarcity and how they effect our spending decisions.
In the sixth episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the circular flow model. Viewers will learn how households and businesses interact in the market for resources and in the market for goods and services, and see how money keeps the whole process moving.
This series of slides presents the production possibilities frontiers for Alphatown and Omegaville and illustrates their comparative advantage in the production of apples and potatoes, leading to specialization and trade.
Students learn about McCulloch v. Maryland, a case decided in 1819 over (1) whether the state of Maryland had the right to tax the Second Bank of the United States and (2) whether Congress had violated the Constitution in establishing the Bank. Students also review the expressed powers of Congress identified in the Constitution and analyze how Congress implements the necessary and proper (elastic) clause to enact its expressed powers. Finally, students use their knowledge of McCulloch v. Maryland and the necessary and proper clause to consider the constitutionality of the Federal Reserve System.
In this lesson, students learn about sharecropping and tenant farming by listening to the story Cotton in My Sack by Lois Lenski. In the words of the author, ŇThey [the sharecroppers] were part of a vast economic system É but they did not know they were part of it.Ó In the lesson, students investigate the life of sharecroppers and identify the economic system to which they were connected. Students read and analyze informational text and cite specific textual evidence, comparing and contrasting sharecroppers and tenant farmers. Students complete a chart to identify references to saving, spending, labor, and income as they apply to the sharecroppers. Students use the bookŐs index to locate specific information in the book. They evaluate the spending and saving choices made by the Hutley family and identify opportunity costs. Students also use evidence and information from the story to complete a writing assignment.
Students will consider both sides of the globalization debateŃthe benefits and the costsŃby reading and discussing the article ŇCrossing Borders: The Globalization DebateÓ from the Spring 2008 issue of Inside the Vault.
Students learn that the loanable funds market is a virtual clearing house matching borrowers and savers. They participate in an activity to demonstrate crowding out in the loanable funds market. They use demand and supply analysis to graphically represent the results of crowding out.
Inflation, deflation, disinflation. They affect the prices of everything we buy. To find out how and whats happening in todays economy, see the February 2011 issue.
In the second episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the concept of demand. Viewers will learn how a change in the price of a good affect the quantity of the good consumers will buy and how changes in market conditions affect the demand for a good.
The sixth podcast in this series examines the law of demand. Those who love candy bars will find this lesson especially easy to digest. A demand curve is simply defined, as are the sorts of changes that might affect that curveall in less than seven minutes.
Students are given a portfolio of investments, and they assess the relative risk associated with the products in their portfolios. They later determine which savings and investment instruments might be most suitable for clients of different ages and economic status.
Students listen to the book Earth DayŃHooray! and learn how incentives change peopleŐs behavior. The students learn how characters in the book collect cans to sell to the recycling center and use the money they receive to buy flowers to plant in the park. In a classroom discussion of the story, students track the number of cans brought to school each day. Students evaluate scenarios to determine what behavior is being encouraged or discouraged and to identify whether the incentives are rewards or penalties.
Have you encountered mobile payment systems like mobile credit card readers? Pretty cooland this kind of innovation can be good for the economy. From micro to macro, in this episode of The Economic Lowdown podcast series, well take a look at economic growthhow innovation and technological progress can make things happen for the economy over time by organizing the factors of production to be, well, more productive.
How are economics and the environment related? The quick answer is that environmental quality is a worthy goal, but there is an economic trade-off: a clean environment does not come without costs. The September 2014 Page One Economics article, "Economics and the Environment, "provides some economic strategies for protecting the environment.
America is a nation of immigrants, who currently make up about 13 percent of the overall population. The May 2014 issue shows how immigration affects the average American. The essay weighs the costs and benefits of immigration and discusses the concept of immigrant workers as substitutes for and complements to native-born workers.
Students will examine three Supreme Court rulings and analyze possible positive and negative impacts of the Court's decision on eminent domain. From the Inside the Vault article, "Eminent Domain: Should Private Property Be Taken for Public Use?"
In the third episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the concept of equilibrium. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium the point at which there is no shortage or surplus of a good or service.
In the fifth episode of the Economic Lowdown Video Series, Scott Wolla, economic education specialist, explains externalities. Viewers will learn how costs and benefits sometimes affect bystanders and discover how taxes and subsidies can be used to internalize externalities.
Ever feel as if you are paying the price for someone elses deal? Perhaps you are choking on the pollution from a foundry where cheap widgets are made. That spillover effect is called an externality. There are positive ones, too.
In this lesson, students learn that the Federal Reserve System uses its monetary policy tools to influence the level of reserves in the banking system. Students participate in a simulation to demonstrate how the Fed uses open market operations to achieve its dual mandate of price stability and maximum employment. Students also learn about other monetary tools: the discount rate, reserve requirements, and interest on reservesŃa recent monetary policy tool. Finally, students apply their knowledge of monetary policy to suggest possible Federal Reserve policy responses to proposed economic conditions.
This video provides a basic overview of unemployment and how it is measured. It also provides an understanding of the FOMC's role in promoting maximum employment and price stability.
The fourth episode of Feducation dissects an FOMC (Federal Open Market Commission) statement, assessing the changing communication strategy for transparency and clarity and demonstrating an activity that can be used in the classroom.
How are the money supply and inflation related? And what does the Federal Reserve have to do with this relationship? Episode 1 of the Feducation video series reviews the functions of money, features an interactive auction that demonstrates the relationship between the money supply and inflation, then utilizes a simple equation to show how changes in the money supply affect the economy. The video also describes how the Fed uses monetary policy to achieve its dual mandate of maximum employment and price stability.
What monetary policy tools did the Federal Reserve use prior to the Great Recession? What did it do differently during and after the Great Recession? Episode 2 of the Feducation video series includes a simple demonstration of Open Market Operations and a discussion of non-traditional monetary policy tools.
Financial crises and recessions have often led to significant financial reform. Perhaps the most noteworthy financial reform of the past century was the formation of the Federal Reserve System in 1913. The January 2011 issue provides historical details of events leading up to the founding of the Federal Reserve.
In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 brought the most sweeping financial regulatory reform since the Great Depression. The May 2011 issue outlines key provisions of the Act intended to prevent or lessen future financial crises and enhance consumer protection.
To find out more about fiscal and monetary policywho conducts them, how they work, and their roles during economic downturnsread the March 2011 issue.
Students work with data that represent the ages of 24 people to learn the difference between categorizing data in fractile intervals and equal intervals. Students discuss dividing bonus points among class members to understand what per capita means. Then students look at per capita personal income by state using the GeoFRED mapping tool. They compare per capita personal income displayed with data in equal intervals and with data in fractile intervals.