Showing posts with label inflation. Show all posts
Showing posts with label inflation. 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.

Monday, February 3, 2020

Inflation Calculator - Show Students Changes in the Value of Money

When I was a kid a 3 Musketeers bar cost 30 cents at my favorite shop, North End Pharmacy. The last time that I saw one in a gas station it cost $1.39. That's ridiculous! What happened? Inflation, happened.

I like to use that candy bar example whenever I begin to explain inflation to kids. t's a product they're familiar with and usually have a good sense of its current value. If you want to come up with other examples or have students explore the impact of inflation on their own, take a look at the new Inflation Calculator created by Involve.me.

The Inflation Calculator lets you enter a dollar amount then select two years to see the change in the value of the original dollar amount over time. Watch this short video to see how it works.


H/T to Product Hunt

Wednesday, February 12, 2014

Videos - What Is Money? What Is Inflation?

As I've mentioned many times over the years, economics is one of my favorite subjects to teach. Some of my first lessons when introducing economics to students deal with the questions of "what is money? and "what determines its value?" The following short videos provide a nice introduction to the questions of "what is money?" and "what is inflation?" These videos won't replace my lessons, but they will be good supplementary material to share with students.


The following explanation of inflation is direct and to the point, but it does include a promotion for an investment website at the end.