Take a 10-minute guided tour of FRED, the St. Louis Fed's free economic data website. Simple step-by-step activities equip users to find and graph economic data, mastering FRED's look and feel. The guide also shows how to customize, save, and share a FRED graph.
Students work in groups to examine excerpts from primary source documents. They identify social and economic factors affecting specific categories of people when the Great Migration accelerated in 1916 to 1917: black migrant workers from the South, southern planters, southern small-farm farmers, northern industrialists, agents, and white immigrant workers in the North. Each student group creates a "perspectives page" to post for a gallery walk where students analyze the causes of the Great Migration and the changes it brought to both the North and South. Students also discuss the specific economic factors that influenced the Great Migration: scarcity, supply, demand, surplus, shortage, and opportunity cost. Using the PACED decisionmaking model, they analyze the alternatives and criteria of potential migrants.
Consumers see or hear thousands of advertisements each day. The April 2017 issue of Page One Economics: Focus on Finance reviews advertising history and strategies ads use to create demand and influence consumer tastes and preferences.
In the story, Alexander, Who Used to Be Rich Last Sunday, Alexander receives a dollar from his grandparents that he plans to save, but he spends it all, a little at a time. In this lesson, students count by twos to fill a container with 100 pennies. They are asked whether 100 pennies is the same amount of money as one dollar. They listen to the story and as Alexander spends his money, students come up and remove the correct number of pennies from a container. At the end of the story, students are again asked if 100 pennies is the same amount of money as one dollar. Students discuss the choices that Alexander made and give advice on how he could save his money to reach his goal of buying a walkie-talkie.
Be an informed consumer. Understand the costs and benefits of various alternative financial services, such as payday loans, pawn shops, car title loans, rent-to-own, and refund anticipation checks. Compare these to more traditional financial services provided through banks and credit unions.
Episode 3 of the Continuing Feducation Video Series, The Amazing $2,000 Pizza, emphasizes the importance of using credit cards responsibly.
This online activity shows how to use FRED, the Federal Reserve's free online economic data website, to analyze changes in real gross domestic product (GDP) and GDP makeup over time. Following simple instructions, you will locate spending data for the individual components of real GDP, and then combine them into a highly informative area graph. You will also use FRED's ability to stack data and see how trade—imports and exports—contributes to GDP. The resulting customized graph will let you see how economic output varies from year to year.
If you look at what psychologists consider to be high-level stressors, you'll find a list of about 40 life events. We have no control over many of these events, but for more than half, we do. So much of our stress and success in life depends on the decisions we make. In this short course, your students will learn the economic underpinnings of the need to make decisions, why every decision bears a cost, and how to make informed decisions.
Students learn that bankruptcy is a federal court proceeding designed to help individuals address debt problems and to provide fair treatment to creditors. They learn the six different types of bankruptcy; however, the lesson focuses on the two types of bankruptcies used mostly by consumers: Chapter 7 and Chapter 13. They analyze bankruptcy terms and learn the similarities and differences between Chapter 7 and Chapter 13 procedures. They also participate in an activity that requires them to work collaboratively to match a bankruptcy step with its correct description. As an assessment, they review scenarios and suggest the best bankruptcy option. This lesson assumes that students are familiar with credit, uses of credit, types of credit, and basic credit terminology.
Many people find themselves in financial trouble, but it is good to know there are options available should you need serious financial help. The April 2018 bonus edition of Page One Economics: Focus on Finance discusses earning income, budgeting, late payments, and collections. It introduces the basics of legal protection offered in the form of bankruptcy and describes some potential consequences of filing a bankruptcy case.
Payday and title lenders, pawn shops, check-cashing services and prepaid cards can be convenient and valuable financial services, similar to those offered by traditional providers of such services—banks and credit unions. What are the costs and benefits of using alternative financial services, as well as of going to a bank or credit union?
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 Franklin's life his work as a printer and 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 Franklin's portrait for the $100 note.
In this video (Part IV) that is approximately 2 minutes long, students will examine the Fiat money system. This covers standard EPF.6 (a).
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.
While many people have heard of Bitcoin, far fewer understand it. In short, Bitcoin is a digital currency that allows transactions independent of the banking system. Lately, many people are buying Bitcoin purely as a financial investment, hoping it will appreciate. So which is it—currency or financial asset? Read more about it in the March 2018 issue of Page One Economics.
Budgeting is the most basic and most important tool in anyone's financial toolbox. With this resource, students are given the hands-on opportunity to create budgets for fictional "Regan" during her sophomore year in nursing school, and, later, as a recent graduate with an apartment and a new car. Using either Microsoft® Excel or Google Docs, the students download our budgeting tool with space for their own budget, as well as the examples they created by establishing Regan's budget.
Many people love a roller coaster’s thrilling ups and downs. When it comes to the economy, however, most people would prefer to avoid a wild ride. In fact, most like a smooth ride with very few dips. This episode of The Economic Lowdown podcast series describes how the economy moves through phases of the business cycle, and the role the Federal Reserve System plays in smoothing some of the ride's bumps.
In this lesson, students will explore a market basket of goods and services and determine what is in each category in the market basket. Students learn that the consumer price index (CPI) is made up of market basket goods and services for which the prices are compared each month to determine if the price of any of the items has changed and if there has been inflation. Students will engage in role-play scenarios to understand the effects of inflation.
Capital markets include the stock and bond markets, and this is where businesses turn for funding when they need investors. In this course, students will learn how capital markets keep the economy moving and how they provide opportunities for businesses, entrepreneurs and investors to achieve their goals.
Car insurance is complicated. How much does car insurance cost and what do all those terms and numbers mean? These two segments of Personal Finance 101 Conversations offer insights and information about purchasing car insurance. The content for these videos was reviewed by members of the Missouri Insurance Education Foundation.
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.
Cards, Cars and Currency is a set of personal finance programs that encourages participants to learn about three areas of personal finance: credit cards, debit cards and purchasing a car. Cards, Cars and Currency includes five individual programs that can be used together or individually to enhance personal finance learning.
What do you need to know before buying a car? Aside from knowing what you want in a vehicle, you’ll need to know about budgeting and credit before you start shopping. Learn some car-buying basics in the February 2019 Page One Economics: Focus on Finance essay.
There are two sides to a budget—income and expenses. When asked how to best balance a budget, people often respond by saying to reduce or eliminate expenses. In this lesson, students choose a car and a housing option and, using these expenses, determine if the income they earn from the occupation they’ve chosen will be sufficient when other expenses are added. If they determine it is insufficient, they seek ways they could increase the income side of the budget by improving their human capital.
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.
In this lesson, students learn the definition of gross domestic product (GDP) and the four expenditure categories of GDP. Then, they participate in a readers’ theater about castaways on an island who learn about GDP. Students record examples of items produced on the island that are examples of consumer, government, and investment spending. They recognize that, without trade, there is no net export category for the island.
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 this video (8 minutes long) students will see an example of the circular flow chart and how the parts of it interact and are interdependent on each other. This video will aid in the mastery of standard EPF. 2(j).
Students are read a series of two options and are asked to decide which options are more dangerous. They then learn about risk and how to prevent or reduce risk by taking precautions. Next they listen to a story about risk, where Clifford, the big red dog, helps reduce the risk of danger by taking precautions. After the story, the students complete a story sequencing activity based on Clifford’s actions. Finally, they recognize that Clifford does not exist in the real world and talk about people in their families and communities that help protect them from risk.
From tiny private colleges to gargantuan urban universities, there are enormous implications to your choice of a school and a major. This video will help you develop a perspective and a framework for making these
It's often said that a college degree is the key to future success. Choosing to attend college is a major decision for young people. But why is a degree so important? The December 2015 issue of Page One Economics examines two economic models used to study how education, productivity, and income are related.
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.
In the Comparative Advantage courses, students meet Jack Of All Trades, a most awesome superhero. In all tasks, Jack can do everything better and faster (he has absolute advantage), but does that mean he must do everything while the rest of the people stand around helplessly? Find out if justice is served when a formerly idle citizen, Andy, wades through the depths of opportunity cost and the benefits of comparative advantage.
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.
“There’s no such thing as a free lunch.” Maybe you’ve heard that before. Or you’ve even said it. If so, you probably know it means that everything has a cost. Businesses are especially aware of costs because costs affect profits, and without profits a business might not survive. This episode of The Economic Lowdown podcast series describes how businesses consider costs when making decisions – including about whether to shut down.
In this lesson, students practice counting as the book Counting with Common Cents is read. As they count pennies, nickels, and dimes, they place those coins on the appropriate spot on a handout, indicating how many pennies are equal to a nickel and a dime. They discuss saving their pennies and draw a picture of an item they would like to buy. In an optional activity, they draw pictures or write notes indicating chores they would do to earn 10 pennies.
This online activity demonstrates how easy it is to master key functions in GeoFRED, the data-mapping tool for FRED. In just a few minutes you can create an engaging binary map that will spur comments and questions. The binary map created in this demonstration displays the following data: real per capita personal income, not seasonally adjusted, quarterly, dollars.
Credit bureaus have evolved into big businesses. The December 2017 issue of Page One Economics: Focus on Finance addresses the growth of credit bureaus and how the credit reports they maintain affect both creditors and borrowers.
Credit can be a powerful tool in your financial toolbox if you understand how to use it wisely. In this course, you'll learn about different types of credit and the costs associated with using credit. You'll learn the importance of building strong credit by borrowing wisely and paying promptly, arranging credit for making major purchases like a car or home, avoiding common credit mistakes, and monitoring your own credit. You'll also learn about credit reports, your credit score, and steps you can—and should—take to build your own credit cred!
In this lesson, students first learn how credit history and credit scores are determined. Then, to better understand the protections of the Equal Credit Opportunities Act, they participate in a card-sorting activity where they evaluate creditworthiness based on borrower characteristics, determine which characteristics may be legally considered, and sort the applicants from most likely to least likely to get a loan. Next, they examine a primary source document to see how information that can be legally used to evaluate credit changed with the act. In an optional extension activity, students sort cards again to match primary borrowers with cosigners. They then learn about the pros and cons of cosigning.
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.
In the story Curious George Saves His Pennies, George wants to buy a new bright-red train, but he does not have enough money. At the suggestion of his friend, George saves his money to buy the train. In this lesson, the students draw an outline of a piggy bank, within which they write a word for or draw a picture of something they would like to buy. This becomes their savings goal. They listen to the story, and as George finds some ways to earn money, the students come up with ways they can earn money to reach their savings goals. Students are introduced to the difference between income and gift money. They participate in an activity where they determine if they are receiving income or gift money and how many weeks it will take them to reach their savings goal. Students also discuss why George did not buy the original red train he wanted.
This is a 7 minute video that is part of the FED of St. Louis' Economic Lowdown series that explains the Law of Demand, the graph shape and what contributes to the changes in demand. This video will cover the standard EPF. 3(a)
Teachers may also find accompanying handouts at https://www.econlowdown.org/
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 curve—all 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.
Is international trade good for Americans? The November 2017 issue of Page One Economics provides the ins and outs of trade, including some history, the costs and benefits, and policy choices.
Students listen to the book Earth Day Hooray! and learn how incentives change people's 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.
Vocabulary, vocabulary, vocabulary is the first step in learning a new discipline like economics or personal finance. We can help with that! Create and print flashcards, or have your students create and print their own, from more than 300 economics and personal-finance terms. Create flashcards for each new chapter or unit of study.
Have you encountered mobile payment systems like mobile credit card readers? Pretty cool—and this kind of innovation can be good for the economy. From micro to macro, in this episode of The Economic Lowdown podcast series, we'll take a look at economic growth—how innovation and technological progress can make things happen for the economy over time by organizing the factors of production to be, well, more productive.
Our standard of living depends on the pace of economic growth. That pace can be enhanced through increased productivity brought about by investment in physical and human capital and advances in technology. In this course, students will learn about these tools to increase productivity and advance our standard of living.
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.
Years ago, airline passengers enjoyed more legroom and in-flight extras—for a price. Find out in the November 2018 issue of Page One Economics how deregulation increased competition, lowered prices, and created crowded flights.
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.
The Economics of Infrastructure is the first video in the Explore Economics animated series. It shows how infrastructure such as roads, bridges, railroad lines, water mains, sewer pipes, and power lines support the operation of an economy.
People are passionate about professional sports—they give people pride and a sense of community. And they create economic benefits for the community. But should tax dollars be used to subsidize sports stadiums? The May 2017 issue of Page One Economics describes some pros and cons.
“The Economics of Transportation” is the second video in the Explore Economics animated series. It shows how changes in technology changed the way and speed with which people move goods.