Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

Wednesday, July 21, 2021

Short Lessons on the Value of Money

Last week TED-Ed published a new video lesson titled Why Can't Governments Print an Unlimited Amount of Money? The purpose of the video is to explain how governments, particularly the United States federal government, were able to spend trillions of dollars on COVID-19 economic relief programs in the last year. The video explains the role of central banks in controlling the money supply and the concepts of inflation and quantitative easing. There is also an explanation of government bonds, why they're sold, and who buys them. Overall, it's a solid video for middle school or high school students. 
 


Why Can't Governments Print and Unlimited Amount of Money? is the latest of many videos about money and economics that TED-Ed has published over the years. A couple that dovetail with the latest video include What Gives a Dollar Bill Its Value?, What Causes Economic Bubbles?, and What Causes an Economic Recession?



Applications for Education
Before showing either Why Can't Governments Print an Unlimited Amount of Money? or What Gives a Dollar Bill Its Value? I'd ask students to think about some products they purchase and what contributes to the price and or price increases of those products.

All of the videos are suitable as introductions to larger lessons. To that end, I may have students watch the videos in EDpuzzle where they can answer some questions about the videos as an assignment.

Here's an overview of how to create an assignment in EDpuzzle.

Sunday, December 9, 2018

A Fun App for Learning About Money

Money Math Duel is an iPad app and Android app designed to help students learn to count currency. The app is unique in that it allows two students to use it at the same time. Students place the iPad between them and each has his or her own end of the screen to use. Students "compete" head-to-head to count money quickly and accurately. The app gives students different amounts to count so that they can't copy each other's work. The app also lets students adjust individual settings to change colors and default currency denominations. As David Kapuler wrote in his blog post about it, this makes it "fair" for students of different abilities to play the same game.


Applications for Education
Money Math Duel could be a good app to use in an elementary school math lesson on addition and subtraction of money.

The iPad version of Money Math Duel is currently free to download. The Android version is not free. I've used other apps from this developer in which the pricing was reversed and the iPad version was paid and the Android version was free. Perhaps in the future we'll see that switch again. In the meantime, grab the free iPad app Money Math Duel.

Thanks again to David Kapuler for sharing this app. Check out his blog for other good app recommendations. 

Friday, June 29, 2018

Measuring Worth - A Lesson on Inflation

Do you remember when a cup of coffee didn't cost $3? Or when ten dollars bought you enough gasoline to drive for a week? How about buying a pack of baseball cards for 25 cents and getting a piece of gum in the pack too? I remember those days. My money seemed to go a lot farther then. Or did it? You can figure out the answer to that question and other economics questions by using the Measuring Worth calculators.

Measuring Worth provides an extensive series of data sets and calculation tools that students can use to compare the purchasing power of a dollar over time and around the world. Measuring Worth is available in four currencies. In addition to the calculator tools, Measuring Worth provides a series of customizable graphs of historical economic data. Using these graphs you can generate visuals of changes in purchasing power and GDP over time.

Applications for Education
Measuring Worth provides excellent data sets, calculators, and graphs that students can use in an economics course or a consumer mathematics course. A simple assignment that you could have students do with Measuring Worth is to have students pick their favorite food and figure out how much it would have cost when their parents were the same age. Students could also ask parents how much their first car cost and calculate what that cost would be today.

Thursday, January 25, 2018

Peter Pig Helps Kids Learn About Money

Peter Pig’s Money Counter is a fun little game designed to help kids learn to recognize U.S. coins, to recognize the values of U.S. coins, and to add the values of U.S. coins. The game is available to play online. Peter Pig's Money Counter is also available as a free iPad app and as a free Android app.

There are three levels in Peter Pig’s Money Counter and three games within each level. The first game asks students to sort coins into jars. The second game requires students to count coins and select the matching total value. The third game has students look at two piles of coins and determine which one has the greater value. The difference between the levels is the quantity and variety of coins displayed.

Applications for Education
Playing Peter Pig’s Money Counter could be a fun way for students to practice identifying and adding coins.

Monday, September 5, 2016

Time Is Money - And Other Short Lessons on Money

The majority of the high school students that I've had over the years has been engaged by personal finance lessons. This is probably due in large part to the fact that high school age is when many students get their first real jobs. For many students that first pay check comes with excitement followed by a bit of confusion at how quickly it can all be spent. Some of them quickly realize that minimum wage isn't a livable wage. Others take a little longer to figure that out. A few years ago I created a hands-on simulation for teaching students about the difficulty of trying to survive on a minimum wage job. The activity outline can be downloaded for free from my page in the TES Marketplace.

Time Is Money is a free Chrome extension that can help you see what the expression "time is money" really means. Time Is Money will display the number of hours you would have to work in order to have enough money to purchase any product that you find listed with a price on the Internet. For example, I went to Cabelas.com and found a couple of sweaters that I might like to buy. With the Time Is Money extension activated, the price in dollars is displayed along with the price in hours I would have to work in order to buy those sweaters. Time Is Money can be customized to be based on your hourly wage or your annual salary.

What Gives a Dollar Bill Its Value? is a nice TED-Ed lesson on the influence of the United States Federal Reserve banks on the value of currency. The lesson includes a short piece about the correlation between inflation and the overall health of the U.S. economy. The lesson is probably best suited to high school students who already have a basic understanding of how the value of currency is determined.

Thursday, May 28, 2015

Chemistry and Counterfeiting - A TED-Ed Lesson

How to Spot a Counterfeit Bill is a fun TED-Ed lesson about money. In the lesson students learn about the chemistry of counterfeit detection. In other words, they learn why and how those highlighter pens work on when a store clerk runs one over a twenty dollar bill.


The lesson on counterfeiting could pair nicely with another TED-Ed lesson about the value of money. What Gives a Dollar Bill Its Value? is a nice TED-Ed lesson on the influence of the United States Federal Reserve banks on the value of currency. The lesson includes a short piece about the correlation between inflation and the overall health of the U.S. economy.

Friday, November 14, 2014

Time Is Money - A Chrome Extension That Shows You Material Value of Your Time

"Time is money," we've all heard it, but what does it really mean? A Chrome extension called Time Is Money can help you see what the expression "time is money" means.

Time Is Money will display the number of hours you would have to work in order to have enough money to purchase any product that you find listed with a price on the Internet. For example, I went to Cabelas.com and found a couple of sweaters that I might like to buy. With the Time Is Money extension activated, the price in dollars is displayed along with the price in hours I would have to work in order to buy those sweaters.

Time Is Money can be customized to be based on your hourly wage or your annual salary. To test the extension I entered an hourly wage of $10/hour.
Click image to view full size.

Applications for Education
High school students who have just gotten their first jobs may find the information that Time Is Money reveals to be an eye-opener. It's also a nice little extension that I will integrate into my hands-on economics lesson, Life on Minimum Wage.

My only criticism of the extension is that it doesn't appear to account for taxes and Social Security contributions being withheld from a paycheck.

H/T to LifeHacker.

Tuesday, September 2, 2014

What Gives a Dollar Its Value? - Lessons on Currency

What Gives a Dollar Bill Its Value? is a nice TED-Ed lesson on the influence of the United States Federal Reserve banks on the value of currency. The lesson includes a short piece about the correlation between inflation and the overall health of the U.S. economy. The lesson is probably best suited to high school students who already have a basic understanding of how the value of currency is determined.


What Is Money? from The Atlantic's series on economics is a good complementary video to What Gives a Dollar Bill Its Value? What Is Money? uses the fun scenario of trying to deposit a banana into a bank to explain the basic purpose and function of money. The video is embedded below.

Monday, June 2, 2014

Show Students How Far a Dollar Used to Stretch With this Economics Calculator

Do you remember when ten dollars bought you enough gasoline to drive for a week? Or when a pack of baseball cards cost 25 cents and you got a piece of gum in the pack too? I remember those days. My money seemed to go a lot farther then. Or did it? Now you can figure out the answer to that question and other economics questions by using the Measuring Worth calculators.

Measuring Worth provides an extensive series of data sets and calculation tools that students can use to compare the purchasing power of a dollar over time and around the world. Measuring Worth is available in four currencies. In addition to the calculator tools, Measuring Worth provides a series of customizable graphs of historical economic data. Using these graphs you can generate visuals of changes in purchasing power and GDP over time.

Applications for Education
Measuring Worth provides excellent data sets, calculators, and graphs that students can use in an economics course or a consumer mathematics course. A simple assignment that you could have students do with Measuring Worth is to have students pick their favorite food and figure out how much it would have cost when their parents were the same age. Students could also ask parents how much their first car cost and calculate what that cost would be today.

Thursday, January 30, 2014

Play Financial Football to Learn Some Money Management Skills

Practical Money Skills hosts a series of eight online games designed to teach students some money management skills. One of the games that is timely considering that the Super Bowl is just a few days away is Financial Football. Financial Football has students answer questions about budgets, savings, and spending to move their football teams down the field against another team. The games use real NFL team logos. Financial Football takes at least twenty minutes to play.

Monday, January 24, 2011

Planet Orange - Money Lessons for K-6 Students

Planet Orange is a website developed by ING Direct for the purpose of helping elementary school students learn some basic money skills. Through a series of "missions" (games) to Planet Orange students gain or lose money. Students can design an avatar to represent themselves on their missions. The students gain invest or spend the money they gain to match their budgets and reach their goals.

Planet Orange offers teachers a series of lesson plans for students in grades K-7. The lessons are designed around student play in the Planet Orange environment. The highlight of the teacher section are two 65+ page activity books. The activity books include materials for pre-teaching important money-related vocabulary prior to having students go on Planet Orange missions. The activity books also include worksheets and lessons to build upon the student missions in Planet Orange.

Applications for Education
To use Planet Orange kids have to enter a parent's email address so to use it in your classroom you will have to contact parents. That could be a good way to communicate with parents about what's going on in your classroom. In the event that you can't get students online to use Planet Orange, some of the lessons in the activity books could be used effectively without going online.

Thursday, July 8, 2010

Making Coins at the US Mint - Photo Essay

The latest stop on CNET's summer road trip was in Philadelphia where they visited the US Mint. As documentation of the visit to the mint, CNET has produced a twenty-six image photo essay about the mint and the making of US coins. The images chronicle the production of a coin from design through production. View the photo essay here. The related CNET article included the following video about designing coins.



Applications for Education
Talking about money almost always makes students' ears perk-up. This photo essay and video could go a long way in answering the question, "where does money come from?"

Here are some related items that may be of interest to you:
Kid's Economic Glossary
Saving Money in Plain English
The History of Credit Cards in the United States

Tuesday, March 30, 2010

Interactive Bills and the History of the US Mint

The US Mint has some good online games and activities for young students (elementary grades). Two of the resources that stand out are an interactive look at the security features of US currency and an interactive timeline of the history of the US Mint. The interactive bills allow students to explore the counterfeiting-prevention elements installed in five, ten, twenty, and fifty dollar bills.

The interactive timeline of the US Mint is one of five activities hosted on US Mint Kids. The timeline traces the history of the US Mint from the creation of the US Mint through today. On the timeline students can explore both the political developments at the mint and the technological developments at the US Mint.

















Applications for Education

One of the great things about money is that most students are attracted to it. In turn that makes teaching economics lessons a little more fun for teachers and students. The interactive activities for kids from the US Mint are appropriate for introductory lessons about money as they focus on physical currency rather than economic theory.

Here are some related items that may be of interest to you:
The History of Credit Cards in the United States
Saving Money in Plain English
A Pictorial History of Money

Thursday, July 16, 2009

The Economic Fairy Tale

The Economic Fairy Tale is a short video produced by Dodjit for the purpose of explaining the causes of current global economic climate. The video is embedded below.

The Economic Fairy Tale from dodjit on Vimeo.



Applications for Education
This video could be a nice introduction or summary for a lesson on global economics particularly with regard to the mortgage industry.

Here are some related resources that may be of interest to you:
The Crisis of Credit Visualized
Understanding the Financial Crisis - Say it Visually
Investing in Plain English

Sunday, January 25, 2009

Understanding the Financial Crisis - Say It Visually

Last Thursday I wrote a blog post titled Simple Lessons in Saving and Borrowing Money. In that blog post I shared some resources for conducting lessons about personal finance. That blog post has resources suitable for elementary school students as well as middle school and high school students. This morning I found a good video, produced by Say It Visually that explains the 2008 US financial crisis. Say It Visually produces videos in a simple and clear, animated style similar to Common Craft. What I like about this video is that it explains the role of individuals in the financial crisis.



Applications for Education
This video makes a nice complement to lesson plans about personal finance and economics in general.
Here are some ideas and resources for teaching economics:
Saving Money in Plain English and Other Economics Lessons
The History of Credit Cards in the United States
Economics for Elementary School through High School


Thursday, January 22, 2009

Simple Lessons in Saving and Borrowing Money

Bank Jr. is an educational banking website designed for elementary school students. I discovered Bank Jr. through Donna Murray's excellent blog. Bank Jr. is an interactive website on which students can learn the in's and out's of banking. Bank Jr. has a glossary of terms, a help center, and savings wizards. Bank Jr. also provides students with a history of money and a look at how different countries use money. The teachers section of Bank Jr. provides an extensive glossary of terms and some lesson ideas. Bank Jr. does not provide full-length, detailed lesson plans, but it does provide PDF's of worksheets and handouts that teachers may find useful for teaching banking lessons.

Yesterday, Common Craft released a new video that explains borrowing money in plain English. As always, Common Craft does an excellent job of explaining what can be a complex topic in a very easy to understand form. The video is embedded below in Dot Sub form.

Applications for Education
Bank Jr. could be a good place for students to learn about saving money and commonly used banking terms. In the teacher section of Bank Jr. teachers can find PDF forms for teaching banking basics like keeping an accurate ledger.

The Common Craft video should be required viewing for high school and college students. Too many students get to college and get into debt in part because of ignorance about the pitfalls of borrowing more than you can afford to repay.

Here are a couple of other resources for teaching about banking and economics.
The History of Credit Cards in the United States
Saving Money in Plain English

Tuesday, January 13, 2009

A Colorado Middle School Cuts Lunches

Today's episode of CNN Student News contains a story about a Colorado middle school that stopped serving lunches to students with unpaid lunch accounts. When total unpaid balance approached $10,000, the school stopped serving lunch to those students whose parents had not paid the balance.



Applications for Education
Having students watch this story could be a great way to start a discussion with students about personal money management.
CNN posts a ten question quiz to along with each Student News episode. Today's quiz includes a question about whether or the school district did the right thing.

Sunday, March 9, 2008

Free Technology For Teachers: Lessons about Money

The American Numismatic Association is a nonprofit educational organization dedicated to educating and encouraging people to study and collect money and related items. The AMA has a thorough virtual museum tour that is one of the better virtual museum tours I've seen. The audio narration of the virtual tour really enhances the virtual tour experience.


Applications for Educators
The AMA website has a teachers resource page containing detailed lessons plans about money. My initial thought was that the AMA lessons would be revolve around economics, but I was wrong. The AMA lesson plans are quite appropriate for studying culture and for studying art. The lesson plans and resources are best suited for middle school and high school age students.

Wednesday, January 23, 2008

Free Technology For Teachers: Economics Lesson- Money as Debt

Money as Debt is a useful, if slightly biased, lesson on the banking system. The video holds students' attention despite being a little long (47 minutes). It is an animated story of the development of the banking system and how the banking system continues to work. I've used this video in my class four times and each time the kids have come away with a better understanding of the banking system. The video is available for free download by clicking here or you can watch it right here as I have embedded it.


Applications for Education
The video itself does provide a good lesson on the possible pit falls and problems of the banking system. The fact the video is somewhat biased is a great opportunity to teach students about bias and or propaganda in the media.