Common Cents

Common Cents articles provide teachers and parents with easy-to-implement lessons and activities for their students and children.

Content Card

Five resolutions to help kids start the new year with financial awareness

Outline five financial goals - saving, earning, spending, donating and learning - and define each goal for kids.

Financial Fables

Financial Fables are entertaining stories that combine reading, economics and personal finance into life lessons that feature...

Money Museum

Welcome to the Federal Reserve Bank of Kansas City’s Money Museum; a billion-dollar experience! See how the Bank processes...

Developing Financial Goals

PDFIncrease Your Money Smart IQ
Read suggestions to help kids learn to become money smart.

PDFResolutions Help Kids
Outline five financial goal planner areas - saving, earning, spending, donation and learning - and define each goal for kids.

PDFUsing Tough Times to Teach Children Financial Concepts
Discuss ways to talk to kids about financial decision-making, learning to budget and economizing to spend less money.

PDFWatch and Learn: Kids' Money Attitude Often Mirror Parents'
Discuss ways to talk to kids about financial decision-making, learning to budget and economizing to spend less money.

Saving and Investing

PDFA Financial Picture is Worth a Thousand Words
Help kids achieve short- and long-term savings goals.

PDFDeveloping Fiscal Fitness in Kids
Teach kids how to budget and develop financial goals.

PDFFinancial Responsibility Begins in Childhood
Teach kids the importance of saving money by helping them visualize concepts in their own frame of reference.

PDFInvestments: The Gifts That Keep on Giving
Review the different investment options for youth, including savings accounts, certificates of deposit, 529 savings plans and stocks.

PDFLearning Through Lending: Kids as Angel Investors
This article introduces microloans as a way to invest in entrepreneurs from Third-World countries.

Spending

PDFBecoming a Conscious Consumer
Learn how to become a consumer coach and help kids practice conscious spending.

PDFBypassing Buyer's Remorse
Help kids make better purchasing decisions.

PDFIt's Free, But at What Cost?
Help kids understand that there is often a hidden cost in receiving free items associated with a purchase.

PDFMoods and Money: How Emotions Affect Money Decisions
Learn about behavioral economics and how financial decision-making is affected by reflexive thinking.

PDF'Tis the Season for Smart Shopping
Learn how to get your kids in the habit of comparison shopping and encourage smart spending.

Credit

PDFLaying the Foundation for Responsible Credit Use
Discover why it's important to help kids gain a well-rounded understanding of credit, including its advantages and costs.

PDFPerusing Payment Cards
Read how prepaid cards can be used as a payment solution for those without access to credit or even without bank accounts.

Entrepreneurship and Careers

PDFBeyond the Lemonade Stand
Guide young entrepreneurs by discussing what it takes to make a venture successful.

PDFOh Where Oh Where Has Our Work Ethic Gone?
Read suggestions to develop a better work ethic at home.

PDFPreparing Kids for Their Life's Road Trip
Learn how to help prepare kids to choose a career.

PDFThe Art of Negotiation
Learn strategies to begin teaching negotiation techniques.

Other

PDFDeveloping Resilience in Kids
Discuss changing financial circumstances within a family and suggest ways to overcome and be strengthened by the difficulties.

PDFIdentity Theft is Hazardous to Your Wealth
Read about ways to protect kids’ personal information and online identity.

PDFMoney Ethics - Teaching Kids to Follow Their Moral Compass
Help kids make ethical decisions related to money situations they may face.

PDFPayday on Report Card Day?
Read how small rewards for good grades can keep kids on track without the bribe effect.

PDFPaying it Forward: Kids and Philanthropists
Introduce the idea of charitable giving as a way to teach kids the life lessons of consideration and compassion towards others rather than self-fulfillment.

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Trivia Title Trivia Content
Bite Size Economics

In professional sports, a trade is a sports league transaction involving and exchange of players' contracts and/or draft picks. Have students research a sports trade in the NBA. Ask them to write a summary of the trade deal, including the advantages and disadvantages for the teams and/or players involved.

Bite Size Economics

Visit a local bank or credit union and ask for some deposit slips. Use addition and subtraction and place value to practice filling out the slips

Bite Size Economics

The Bureau of Engraving and Printing produces currency daily to avoid a scarcity of money. How many bills are produced in a day? A) 3,500 B) 350,000 C) 3.5 million D) 35 million Answer: (D)

Bite Size Economics

What's your money personality? Are you a saver, avoider, spender, giver or worrier? Find out by taking the Money Make-up quiz at the end of the Kansas City Fed's Common Cents article "Watch and Learn". http://bit.ly/1923cSJ

Bite Size Economics

Have students draw a picture of their perfect vacation spot and include as many natural resources as possible.

Bite Size Economics

Make a chart comparing the costs of a new sports car and a used compact car. Figure the expenses for each car, including loan payment, fuel and insurance. If transportation to your job is a need, which car is the better choice?

Bite Size Economics

Professionals like lawyers and accountants may trade services, such as an accountant preparing a lawyer's taxes and a lawyer handling a legal matter from the accountant. Write a short news article about the costs and benefits of trading services.

Bite Size Economics

Trivia: The Federal Reserve Act was signed by President Woodrow Wilson in 1913. The average annual income that year was $800.

Bite Size Economics

Gather pictures from magazine, local newspaper articles, chamber of commerce promotional material, etc., and create individual or group collages that represent the economy of theregion where you live. Be sure to include the natural, human and capital resources of your area.

Bite Size Economics

Play "The Price is Right" by showing student teams a variety of store items, having them take turns estimating the price of each. The team closest to the price without overestimating wins a point. Keep track of points to determine the winning estimators.

Bite Size Economics

Read Saving Strawberry Farm by Deborah Hopkinson. Use the children's literature lesson to discuss the role banks played during the Great Depression: www.stlouisfed.org/education_resources/assets/lesson_plans/StrawberryFarm.pdf.

Bite Size Economics

There was no uniform currency during the Free Banking Era, so state-regulated banks issued their own banknotes. Brainstorm problems that could develop with many different currencies in circulation throughout the United States.

Bite Size Economics

Why does it matter that the recent recession coincided with a financial crisis? Research from the Kansas City Fed that examined banking crises in Spain, Norway, Finland, Sweden andJapan found that when a recession is combined with a financial crisis unemployment increases are unusually severe and persistent. http://bit.ly/11m62Nt

Bite Size Economics

Write about the problem that occurs when people do not recycle resources and the resulting opportunity cost on the environment.

Bite Size Economics

Discuss opportunity costs in buying school supplies with students. What backpack choices did they make, and what designs were their second choices? Did they consider mechanical pencils vs. regular pencils? Did they choose markers or crayons? Talk about how they made their decisions.

Bite Size Economics

Visit www.bos.frb.org/entertainment to play the online game Show Business: The Economics of Entertainment and learn about economics in the entertainment industry.

Bite Size Economics

The threat of war pushed the Federal Reserve Banks to open early because of bank panic fears. How else can war affect the economic health of a country?

Bite Size Economics

Invite someone in sales to speak about the skills necessary to be a successful salesperson.

Bite Size Economics

Use the Recession Lesson "Navigating the Fear of the Unknown" (http://kansascityfed.org/publicat/education/teachingresources/RecessionLesson-EconomicUncertainty.pdf) to learn about the role that economic uncertainty played during the recent recession for businesses and consumers.

Bite Size Economics

Using the Chicago Board of Trade (www.cmegroup.com), follow the prices of basic commodities used in producing food, such as corn, wheat and meat products. Report results at the end of the month and make a prediction on food prices for the next month.

Bite Size Economics

Currency is printed at the Bureau of Engraving and Printing (in Washington, DC or Fort Worth, TX) and then shipped to the Federal Reserve for distribution to local banks when needed. Find these locations and the Federal Reserve office closest to you on a U.S. map.

Bite Size Economics

Discuss the correlation between a country's resources and what goods they export and import. Have students choose countries, research their major resources, exports and imports, and share their findings. Discuss which countries might make good trading partners.

Bite Size Economics

Change the lyrics of a popular song so that they now convince someone to keep their liabilities low for better financial health.

Bite Size Economics

Introduce the concepts of profit and loss. Organize a classroom business selling a food or craft product. Have students figure the cost of materials (expenses); create the products; and decide on a selling price (income) to make a profit. Invite another class to view and buy the products using fake money. After the sale, have students figure the class profit/loss based onthis formula: total income - total expenses = profit.

Bite Size Economics

Discover how the recession influenced the savings habits of consumers in the Recession Lesson: "The Silver Lining of the Economic Downturn" at www.kansascityfed.org/publicat/education/teachingresources/RecessionLesson-SavingsHabits.pdf.

Bite Size Economics

Discuss this quote: "No one has a greater asset for his business than a man's pride in his work." - Hosea Ballou

Bite Size Economics

Use magazine pictures to create a collage of future wants. Develop a budget that includes long term savings goals to purchase these items within the next five to 10 years.

Bite Size Economics

Brainstorm types of financial emergencies (car break-downs, medical problems, home repairs, etc.). Discuss why it is important to have an emergency fund for unexpected expenses.

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Explain why the United States, Canada and Mexico all gain from voluntary trade among their countries.

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Stores often have a surplus of holiday candy after Halloween and Valentine's Day. What methods do store managers use to quickly sell their surplus? (half-price sales; special display) Describe three new and creative ways to reduce this surplus.

Bite Size Economics

How does a recession affect the circular flow of income within the economy?

Bite Size Economics

Discuss the costs and benefits, both monetary and nonmonetary, of having a public school system. Research what it costs taxpayers per year for a student to attend public school, using your state department of education website. What are the benefits of public education? Arethere any costs? What are the benefits to taxpayers that make themwilling to share the costs? Write a brief essay explaining your ideas.

Bite Size Economics

Explore money from around the world by visiting the following website: www.clevelandfed.org/Learning_Center/Online_Activities/explore_money/index.cfm. Discuss money symbols and designs from several chosen countries, then vote for the most beautiful piece of currency. Ask students to redesign a U.S. dollar using more symbolism and color.

Bite Size Economics

Introduce and discuss the characteristics of an entrepreneur, such as being a risk taker; having high energy; being competitive; having a strong desire to be your own boss; and possessing a "never quit" attitude. Ask students to rank themselves "+" or "-" on each of these characteristics to assess their own potential for entrepreneurship.

Bite Size Economics

Create a consumer profile, such as a 20-year-old college athlete, and make a collage of products or services using newspaper, magazine ads and/or computer-generated images that would appeal to that type of consumer.

Bite Size Economics

What can happen when a person or organization doesn't face all the consequences of their actions? Learn about moral hazard and the role it played during the recent recession and financial crisis in the Kansas City Fed's Recession Lesson: Moral Hazard. http://bit.ly/11JIFss

Bite Size Economics

Most states have created 529 plans to assist parents in saving for their children's future education. Have students research plans for the states in their region, including regulators, fees and internet options. Make a chart comparing neighboring states' 529 plans to your home state.

Bite Size Economics

Use the lesson plan and role play for "There's No Business Like Bank Business" to teach students the concept of how banks operate as a business: www.kansascityfed.org/publicat/education/teachingresources/No_Business_lesson.pdf and www.kansascityfed.org/publicat/education/teachingresources/Bank_Business_script.pdf.

Bite Size Economics

Read Saturday Sancocho by Leyla Torres. Use the related children's literature lesson from the St. Louis Fed to learn about the advantages of paying money over bartering for goods.http://bit.ly/18D0u5U

Bite Size Economics

Use a graphic organizer to show how the price of gas varies from your state to several neighboring states. How can the same gallon of gas from the same distributor, such as Shell or Phillips, differ in price from one state to the next?

Bite Size Economics

Download the spreadsheet showing GDP percent change from the preceding period from the Bureau of Economic Analysis (BEA). Identify years of large GDP growth, such as 1942.Discuss events, government policies or production factors that may have caused this growth. http://1.usa.gov/165pfU5

Bite Size Economics

A bear market is one where stocks steadily decline and investors are motivated to sell; a bull market is one where stocks are steadily increasing with investors' optimism. Ask students to design two new symbols (animal or other) to replace the bear and bull images and share why their symbols are good representations of these markets.

Bite Size Economics

Jennifer sells craft items for extra income. She sold $236 worth of items in October, $348 in November, and $559 in December. What was her income for the three months? ($1142) What was her average income from crafts monthly? ($381)

Bite Size Economics

Entertainment purchases can be a budget downfall. Brainstorm a list of 10 budget-friendly ideas for family entertainment that cost $5 or less.

Bite Size Economics

Discuss famous entrepreneurs that students are familiar with, such as Bill Gates, Oprah Winfrey, Walt Disney and J.K. Rowling. Look at: www.thelittlee.com/html/famous_entrepreneurs.html and ask students to choose one entrepreneur they are impressed with to research and share with the class.

Bite Size Economics

Read Little House in the Big Woods by Laura Ingalls Wilder to learn about factors of production, which can lead to economic growth. Draw a flow chart that shows the inputs (productive resources) necessary to create chocolate chip cookies (outputs). http://bit.ly/120lmuN

Bite Size Economics

As entrepreneurs invent new products, they often make former products obsolete, or out of date and no longer used. An example of this would be the typewriter, which is now rare because of computer word processing. This concept is called "creative destruction." Ask students to brainstorm and discuss other examples of creative destruction due to new inventions.

Bite Size Economics

Discuss the difference between fixed expenses (those costs that do not change) and variable expenses (those costs that can change). Ask students to interview a parent to discover what fixed and variable expenses they pay monthly. Report findings to the class.

Bite Size Economics

Trivia: Eldercare services are predicted to be one of the most profitable business opportunities in 2012-2013 due to a boom in the elderly population and longer overall life spans.

Bite Size Economics

Certificates of deposit (CDs) are accounts that earn interest at a fixed rate over a set of time period and include penalties for withdrawing money early. Ask students to research interest rates of CDs at local banks. Make a class list of the best rates for each of the following CDs: 6 months; 12 months; 24 months; 36 months. Discuss why banks and credit unions pay higher rates for longer terms. Ask students if they would invest in a CD and why.

Bite Size Economics

Discuss this quote: "Expenditures rise to meet income." - C. Northcote Parkinson

Bite Size Economics

When you deposit a $5 bill in the bank, will you ever see that exact $5 bill again? Draw a comic strip that shows what happens to the bill that you deposit.

Bite Size Economics

Currency is produced by the Bureau of Engraving and Printing, located in Washington, D.C. and Fort Worth, Texas. Look at the new $100 bill at www.newmoney.gov/currency/default.htm. Examine the interactive $100 note and take the quiz on its features.

Bite Size Economics

Tell students to imagine they’ve just purchased their first used car. Have them name services their car will need to run efficiently, and goods they could buy to fix up their vehicle. Ask them to go online to find auto stores that provide these goods and services with item costs.

Bite Size Economics

Are you wise about credit? Learn about developing good credit by reading the Kansas City Fed's Common Cents article "Laying the foundation for responsible credit use." Take theGet a Credit Clue quiz to see if you are credit card worthy. http://bit.ly/11Dsm65

Bite Size Economics

If a company's losses are much greater than its profits, the owners might consider filing for bankruptcy. Research the concept of bankruptcy and write an essay describing the advantages and disadvantages.

Bite Size Economics

Estimate the cost: If you want to buy an item for $9.50 with a 9% sales tax, is $10 enough money?

Bite Size Economics

If you had to choose a president for a new $200 bill, which choice would you select and which would be your opportunity cost? A) John Kennedy or B) Franklin Roosevelt. Have students discuss why they made their choice.

Bite Size Economics

Choose a food product and ask students to brainstorm all of the natural, human and capital resources used to produce it. (For example: a candy bar - cacao beans, land, sun, water, sugar, milk, farmers, factory workers, assembly line, wrapper, etc.) Ask students to draw pictures or work together on a mural showing the production process.

Bite Size Economics

Nominate a president or famous person in U.S. history (no longer living) for a new $500 bill. Write an essay describing how your nominee contributed to American history and why he/she would be a worthy candidate.

Bite Size Economics

Play 20 Econ Questions or Econ Word Wiz (www.federalreserveeducation.org/resources/fiftynifty) using "producer" as one of the words.

Bite Size Economics

Use the role play There's No Business Like Bank Business toexplore the benefits of saving money in a bank:www.kansascityfed.org/publicat/education/teachingresources/Bank_Business_script.pdf.

Bite Size Economics

Develop a role play about an entrepreneur whose ideas for a new product or business are not well accepted and how he/she meets these challenges and eventually becomes successful. Perform the role play for your class.

Bite Size Economics

Discuss investing in a savings account to earn interest (payment made for the use of your money). Show how interest is compounded. For example: $100x5% annual interest = $105 in a year 1; $105x5% annual interest = $110.25 in year 2; $110.25x5% annual interest = $115.76 in year 3. Ask students to use calculators to figure the savings account totals in years 4 and 5. (Year 4 = $121.55; Year 5 = $127.63)

Bite Size Economics

Discuss the resources used in the production of chocolate (cocoa beans, sugar, milk) and the producers of each resource. Ask students to choose any product, make a list of resources used in its production, and count the number of producers involved in the process. Can anyone find a product that has more than five producers?

Bite Size Economics

Research President Obama's 2009 total income by going to: www.whitehouse.gov. ($5,505,409) What is his yearly presidential salary? ($400,000) From what sources did he earn most of his additional income? (sales of his books and winning the Nobel Peace Prize.)

Bite Size Economics

Make a list of your impulse purchases in the last month and share it with a partner. Describe what spending weak spots you have and discuss a plan to help avoid these areas in the future.

Bite Size Economics

Look carefully at a picture of a $10 bill. Identify the following features that make the bill legal currency: denomination amount; presidential portrait; serial numbers; Federal Reserve and Treasury seals; important signature. Ask students to look for additional features and discuss.

Bite Size Economics

Calculate this profit/loss stock statement: 100 shares of XYZ Electronics bought at $29 each + $1.50 broker fee ($2901.50); 100 shares sold at $35 each - $1.50 broker fee ($3498.50); ($3498.50-$2901.50 = $597 profit).

Bite Size Economics

Learn why the regional structure of the Federal Reserve System is important to understanding the economic conditions in all regions of the country in the Atlanta Fed's video The Fed Explains Regional Banks. http://bit.ly/14A3ASh

Bite Size Economics

Divide students into two teams. Hold up pictures of natural, human and capital resources and take turns asking teams to identify the type of resource each is. Teams score points for correct answers.

Bite Size Economics

Compare three different credit card offers. Make a chart showing the similarities and differences of each. Decide which offer is best for you and present your information tothe class.

Bite Size Economics

Introduce the concepts of shortage and surplus. Give the example of a popular new toy on sale before the holidays as a possible shortage situation and a less popular toy as a possible surplus. After brainstorming other shortage/surplus situations, have students write a short story titled "Standing in line to buy..."

Bite Size Economics

Many students think about running their own business as adults. Ask students to brainstorm types of businesses that interest them. Invite a local business owner from an area of interest to speak to the class about his/her experiences. Prepare for the speaker by making a list of interview questions related to running a business.

Bite Size Economics

Using your local newspaper, find three advertisements for products. List examples of marketing techniques that producers use to entice customers to buy their products, suchas bargain prices or use of brand names. Share your results.

Bite Size Economics

Discuss how this quote relates to entrepreneurship: "Wanting something is not enough. You must hunger for it. Your motivation must be absolutely compelling in order to overcome the obstacles that will invariably come your way." - Les Brown

Bite Size Economics

Economic growth occurs with an increase in productivity, which is the amount of outputs (goods and services) produced per unit of input (resources). Form an assembly line production of bookmarks in class, and then try to increase productivity with more efficient assembly techniques.

Bite Size Economics

What three federal agencies regulate banks? (Office of the Comptroller of the Currency-OCC; Federal Deposit Insurance Corporation-FDIC; and the Federal Reserve)

Bite Size Economics

Introduce certificates of deposit and savings bonds as two ways to invest money. Look at the financial website: http://financialplan.about.com/od/savingmoney/a/wheretokeepsave.htm. Compare and contrast these two methods of saving to look at the advantages and disadvantages of each.

Bite Size Economics

Ask students to work with a partner on the following income/expenses problem: You want to convince your family to buy a new computer to replace the outdated one at home. Create a visual that gives family members ideas on how to cut monthly expenses (such as food, clothing and entertainment) in order to save income for the purchase.

Bite Size Economics

Through a story and activities, Piggy Bank Primer introduces students to economic concepts such as saving and budgeting: http://www.stlouisfed.org/education_resources/assets/lesson_plans/piggy_bank_primer/StudentSavingBudgeting.pdf.

Bite Size Economics

Credit card bills now provide an estimate of how long it will take to pay off a balance making only the minimum payment. Paying more than the minimum can substantially decrease the total amount of the purchase. Discover the savings using the credit card repayment calculator at www.federalreserve.gov/creditcardcalculator.

Bite Size Economics

Depositors want their banks to be "safe and sound." Draw a picture illustrating what these two words mean to you. Discuss what might happen if a bank was not a safe and sound business.

Bite Size Economics

Become a board member of a Federal Reserve Bank and learn about the Fed's grassroots approach to gathering regional economic information in the Atlanta Fed's simulation Monetary Policy Starts in Your Own Backyard. http://bit.ly/ZNti2r

Bite Size Economics

Think of a time when you paid for an expense you planned to buy (food, school supplies, etc.) and one you didn't plan to buy (spur-of-the-moment purchase.) Write a song that explains which was the better decision and why.

Bite Size Economics

Weather conditions can create shortages. Work with a partner to make a list of hardware and department store items that might be in short supply during a snowstorm. (snow blowers, shovels, gloves, hats, etc.). Pantomime the use of each item for the class to guess.

Bite Size Economics

Ask students if they have ever run a lemonade stand. Point out that this is an example of a market, where buyers purchase lemonade from sellers. Discuss how sellers set their prices so buyers are willing to purchase. Ask students to give examples of goods from other types of markets they have visited, such as farmers markets, flea markets and garage sales.

Bite Size Economics

Discuss the use of income to purchase holiday gifts and ask students to make a list of five items they'd like to buy for friends, including the price of each gift. Looking at the total amount they'll need, will they earn enough income to make purchases? How might they earn more money to complete their shopping?

Bite Size Economics

Research the new Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) at: www.federalreserve.gov/consumerinfo/wyntk_creditcardrules.htm. What rule targets underage consumers? Discuss the advantages and disadvantages of this rule for college students.

Bite Size Economics

Read Rock, Brock and the Savings Shock by Sheila Bair. Illustrate the benefits of saving by using two clear jars, one for Rock and one for Brock, and adding or removing beans whenever the boys save or spend money.

Bite Size Economics

Write an essay on the topic of rebates as incentives for consumers when they purchase goods and services, such as electronics, cars, etc. Do you think rebates motivate people to spend more? Why or why not?

Bite Size Economics

Uncover how and why the Federal Reserve expanded its balance sheet during the recent recession and financial crisis in the Philadelphia Fed's resource It's Not Your Mother and Father's Monetary Policy Anymore: The Federal Reserve and FinancialCrisis Relief. http://bit.ly/19gvxBB

Bite Size Economics

The class has been earning incentive points towards a party since the beginning of the year. They've earned 576 points in 8 weeks. What was the average number of points earned each week? How many more points do they need to reach their 1000 point goal?

Bite Size Economics

Is a home an asset or liability? Research this question and then draw an illustration to explain what you learned and whether you think a house is an asset or liability.

Bite Size Economics

Research and record the population of five different cities or communities within your region. Develop a bar graph to compare the population results. Discuss how the population of an area can affect its economy, in terms of jobs and housing.

Bite Size Economics

Assume the identity of a superhero or a credit villain in the Kansas City Fed's role play Professor Finance and Fed Boy Meet the Catastrophe Clan to learn about the use and misuse of credit and how the CARD Act protects consumers. http://bit.ly/13jzWzX

Bite Size Economics

Discuss how commercials influence what consumers buy. Ask students to give examples of commercials that convinced them to buy a product. Were they happy or disappointed with the purchases? Tell them to give reasons for their answers.

Bite Size Economics

Discuss this quote: "When written in Chinese, the word �crisis' is composed of two characters. One represents danger and the other represents opportunity." - John Kennedy

Bite Size Economics

Introduce the importance of weekly budgeting. Ask the class to use spending journals to track their purchases for a week. After journals are completed, students should share results for a class list of typical purchases and costs. Have students use the list to create a graph showing the areas where most purchases were made. Discuss ways to cut back on common buys to stay within their budgets.

Bite Size Economics

Create a song or rap that promotes interdependence (when people or nations depend on one another for the goods and services they want) as a way of increasing imports and exports.

Bite Size Economics

Write and perform a skit that explores the concept of fair trade, which aims to help producers in developing countries receive higher prices for their goods and improve social and environmental standards. Include advantages and disadvantages to fair trade policies.

Bite Size Economics

Discuss the exchange rate of currency as the ratio at which a unit of currency in one country can be exchanged for that of another country. Research the exchange rate for bills from five countries by going to: www.xe.com and using the exchange rate calculator. Which notes were worth more than the American dollar? Which were worth less? Why do you think one country's currency is valued higher than another?

Bite Size Economics

When a company wants to increase their profit, they can reduce their costs (expenses) or increase their sales (income). You are the owner of a new sushi restaurant. Describe two ways to increase your sales and two ways to reduce costs.

Bite Size Economics

Choose a country and list the natural, human and capital resources available in that geographic area. Create a business producing a good or service that uses those available resources.

Bite Size Economics

Would you accept a cow as payment? Learn about the four characteristics of money and evaluate various forms of money, including cows, that were used as currency in earlier times by reviewing Kansas City Fed's lesson Early Forms of Money. http://bit.ly/1a8sTip

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Use a blank outline of your state to map your city and the major communities surrounding it. Draw images to represent the businesses and industries that are important in your region, such as a cow for agriculture or a truck for transportation.

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Discuss the meaning of the following quote: "Budget: a mathematical confirmation of your suspicions." - A.A. Latime

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Write and perform a skit showing the impact of incentives on changing poor cafeteria behavior.

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Read Supermarket by Kathleen Krull. Use the children's literature lesson to discuss how technology has changed markets: www.stlouisfed.org/education_resources/assets/lesson_plans/supermarket.pdf

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Justin's assets are a $250 bike, a $1299 computer, and $582 in savings. His liabilities are $475 owed on a loan for the computer and $138 owed to his mom. Add Justin's assets and subtract his liabilities from the total. What is Justin's net worth? ($2131 - $613 = $1518)

Bite Size Economics

How do high levels of employment affect economic growth?

Bite Size Economics

Draw a cartoon about a time when you experienced either a buyer's high or buyer's remorse after a purchase. In the panels, show the purchase, how the purchase made you feel and what you might do differently in the future.

Bite Size Economics

Read Earth Day-Hooray! by Stuart Murphy. Use the children's literature lesson to discuss the topic of incentives in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/EarthDayHooray.pdf

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After assigning classroom jobs (i.e. line leader, paper passer, etc.), provide students with the opportunity to trade jobs with others. After trading is completed, discuss the students' reasons for their trades, making a list of the costs and benefits of each job during the discussion.

Bite Size Economics

Invite a bank manager to visit as a guest speaker. Create interview questions that ask about the education, skills and responsibilities that are needed for his/her position.

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Research your Federal Reserve Bank or Branch Board of Directors members, including the industries and states they represent. Write a short essay explaining why each board member's input is important to understanding the regional economy.

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Ask the class to brainstorm ways they could spend $10. List ideas and ask them to narrow it down to one, since the class has only one $10 bill. When there is disagreement on which one, discuss that the scarcity of the money to be spent forces us to make choices.

Bite Size Economics

Use the Fifty Nifty Card Teacher Resource Guide's "Word of the Week" activity to integrate the concept of scarcity into reading, language and art: www.federalreserveeducation.org/resources/fiftynifty

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Read Something from Nothing by Phoebe Gilman. Use the children's literature lesson to discuss the topic of opportunity cost in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/SomethingNothing.pdf

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Use the above activity to develop small group businesses with four to five students. Each group should decide on their product, follow the production steps and sell the products to classmates using fake money. Students may choose to incorporate marketing techniques to increase sales. Groups should give a final business report, noting profit/loss, to the class.

Bite Size Economics

Use GeoFRED from the St. Louis Fed to examine economic data for your state. How does your state's unemployment rate today compare with what it was in May 2009? http://bit.ly/13R3yWW

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Discuss the stock market as a public place to invest dollars in stocks, or shares of ownership in a company. Go to: www.essortment.com/invest-money-mutual-funds-stocks-17734.html to learn about stocks vs. mutual funds. Which type of stock would you invest in? Give reasons for your answers.

Bite Size Economics

In groups, construct story problems that feature characters needing to calculate amounts to save or spend. Example: Joe wants to save $500 for a trip to Chicago in six months. How much does he need to save each week to meet his goal?

Bite Size Economics

Research the meaning of marginal cost and marginal benefit. Businesses think on the margin, deciding whether the benefit of producing one more unit would be greater than or less than the cost. Share an example of this marginal cost/benefit situation from your research.

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While watching TV commercials within a given time period, identify how many of the products advertised are wants and how many advertised are needs. Using your results, calculate the percentage of each and report to the class.

Bite Size Economics

Write and perform a skit that tells the story of how banking may have begun. Read the Boston Fed's Banking Basics for one description of the world's first lenders as a reference.http://bit.ly/11ksT7e

Bite Size Economics

Bank XYZ is examined and scored every year to make sure it is following banking rules as a safe and sound place for your money. The last four scores were 3, 2, 2 and 1. What is the average score of Bank XYZ? (Answer: 2)

Bite Size Economics

Brainstorms items of value that people invest in, such as real estate, gold, art, coins and jewelry. Ask students to write an essay discussing whether they think these options are better investment areas than the stock market and give their reasons for their opinions.

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Discuss this quote: "America's support for human rights and democracy is our noblest export to the world." - William Bennett

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Use the Kansas City Fed's Teaching Tips: Is Your Bank Account Safe? to learn what happens when a bank fails and how the FDIC steps in following a bank's closing. Make a brochure that explains why money is well-protected in U.S. banks. http://kansascityfed.org/education/foreducators/high-school/teaching-tips/is-your-bank-safe.cfm

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Why are federal laws necessary to protect the civil rights of consumers?

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Create an invention or innovation that would make life easier. Name and describe your invention. What price would you sell it for? What would your income be if you sold 100? 250? 500?

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View the American Currency Exhibit on the San Francisco Fed's website to explore currency from throughout our nation's history. Choose two bills from different eras and create a Venn diagram to compare and contrast bill symbols and features. http://bit.ly/1922F3l

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Review your monthly family budget to determine how much your family spends on wants vs. needs. Discuss how your family might reduce the dollar amount of wants over the next few months. Report your budget-saving measures to the class.

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Investment Math: Introduce the "Rule of 72" as a method to determine the number of years it will take for your savings to double in value. Give this example: if the interest rate is 2%, dividing 72 by 2=36 years to double your savings. Ask students to figure out the number of years for 4% (18); 6% (12); and 8% (9).

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List all the concepts from this planner on the board and number them. Number the sections of a beach ball similarly. Toss the ball to the class. Whoever catches it should explain the concept with the number closest to their right thumb. Repeat.

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Pick a local publicly traded company. Research the goods and services that the company produces and sells, and create a four-slide minimum PowerPoint illustrating the company and what it does.

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You are a producer of a new and unique athletic shoe. Develop a poster or commercial to advertise your amazing shoe.

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Develop a list of economic, social and environmental costs and benefits of developing a new city park. Develop another list for the development of a large chain store like Wal-Mart in the same area. How are the costs and benefits the same or different?

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If U.S. exports to China are worth $8 billion, and U.S. imports from China are worth $34 billion, what is the total trade amount? ($42 billion) What is the trade deficit? ($26 billion)

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Introduce the first two principles: People choose and people's choices involve costs. Explain that opportunity cost is a person's second-best choice that is given up when the first choice is made. Ask students to give examples of choices they make during a school day, such as lunch and recess options, and name the cost and benefits of each choice.

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Carl Sandburg once said, "Money is power, freedom, a cushion, the root of all evil, the sum of all blessings." Discuss how money could be explained in each of these different ways.

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Ask students to make a list of items that they would like to purchase in six months, including the estimated cost. Ask them to select on item and divide the cost by 6 for a monthly amount to save. Have them divide the monthly amount by 4 for a weekly savings amount. Ask if it would be a realistic weekly savings goal. If not, what would they do to make this a goal they could reach?

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Introduce the concept of market clearing price: where buyers and sellers agree on a price to reflect supply and demand; also called an equilibrium price. Discuss the market clearing prices (MCP) of tickets to a concert. What can you assume if the concert is sold out? (MCP is too low.) If few tickets are sold? (MCP is too high.) If you were a concert promoter, what criteria would you use to set ticket prices?

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Before buying clothes or shoes, consumers should consider several features, such as price, quality, fit, style and comfort. Discuss and rank these features with students to see which ones are most important to them in making a purchasing decision.

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Visit the Federal Reserve Board of Governor's website to find tips for improving your credit score. Make a poster to share this information with your classmates. http://1.usa.gov/140Qjnb

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Design a trophy celebrating an important export from your state and explain your choice and reasoning with the class.

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Discuss the topic of behavioral incentives and teens. Ask students which types of incentives work best to keep teens in line: extending curfew; car privileges; more computer/video game time; increasing allowance/funds. Tell students to give reasons for their choices.

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Ask students to name restaurants they have visited. Tell them to think of all the goods and services that a restaurant is expected to provide. Make a list of these items and ask students to write a creative story titled, “Starting My Restaurant Business” that uses these ideas.

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Your credit report is like a report card. It is used to calculate your credit score. You can receive one free credit report every twelve months from each of the nationwide credit bureaus-Equifax, Experian, and Transunion-by visiting www.annualcreditreport.com.

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Bring white elephant items from home (with a parent's signed note). After having an opportunity to trade items, explain the benefits of the trades made. Does everyone agree the trades were positive? If not, why not?

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The start-up costs for your lemonade business includes $1.99 for the mix and $2.50 for the cups. If you sell each cup for $.60, how many cups do you need to sell to make a profit? (At least 8 cups.)

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Discuss this quote: "Competition is not only the basis of protection for the consumer, but is the incentive to progress." - Herbert Hoover

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Give students a sample budget of expenses for a family. Have them identify the fixed expenses (the same amount monthly) and the variable expenses (a changing amount monthly). Ask students to draw sentences out of a hat representing events that might change a monthly budget, such as buying holiday gifts or fixing a flat tire. Have the students identify whether the expense is fixed or variable and then modify the budget to incorporate the added expense.

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How can pocket money make someone a millionaire? Use anonline compound interest calculator to see how a small monthlyinvestment can grow over time by compounding. Write a plan toreach a financial goal using compound interest.

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Read Scraps of Time 1960s: Abby Takes a Stand by Patricia C. McKissak. Use the children's literature lesson to learn about how taxes fund transfer programs such as Head Start and Medicaid: www.stlouisfed.org/education_resources/assets/lesson_plans/Scraps_of_time.pdf

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Think of people at school who are producers. One example might be cafeteria workers who produce breakfast and lunch for students. Others could be a custodian, principal, administrative assistant or any teacher. Make a list of these producers and the goods or services they offer. Ask each student to write a thank-you note to one of these producers.

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Discuss this quote: "Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States." Ronald Reagan

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Discuss the importance of the following quote to those who run their own business: "In the business world, the rearview mirror is always clearer than the windshield." - Warren Buffett

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Choose one principle from the Guide to Economic Reasoning and illustrate it using an everyday life situation. (Example: People gain when they trade voluntarily - a picture of a student trading a food item with another student at lunch.)

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Introduce banking by asking which students have bank accounts and where they bank. Discuss how a bank operates as a business by asking the following questions: Do banks hold all money deposited in their vaults? (No) What do banks do with the deposited dollars? (They keep the required reserve amount on hand, and lend out most of the remaining dollars.) What would happen if banks kept all the deposited money? (Customers would not get loans, and the bank would not receive interest from the loans.)

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Introduce the Federal Trade Commission's Bureau of Consumer Protection as our nation's consumer protection agency. Its job is to prevent fraud, deception and unfair business practices. Have students research the seven divisions of this agency by going to: www.ftc.gov/bcp/about.shtm. Discuss the importance of each division to consumers.

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Many supermarkets have non-food services such as floral departments, pharmacies, banks, dry cleaning and DVD rentals. Why do you think supermarkets offer these additional services?

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Discuss what everyday life would be like if there was no money in circulation and we had to barter to get what we needed and wanted. Write a creative story with the title "Moneyless" to show the problems that might result.

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You have opened a new video game store and hired five full-time employees. If starting salaries are $8.50 an hour and all employees work a 40-hour week, how much should you budget for employee salaries weekly? ($1,700)

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Watch the Economic Lowdown video on demand at: www.stlouisfed.org/education_resources/podcasts/economic_lowdown_video_2.cfm. Take notes on the six ways demand can change, giving an example for each. Create and present a skit showing the effects of supply and demand on the purchase of the newest cell phone, tablet or electronic device.

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Another name for the Bank Panic of 1907 was the Knickerbocker Crisis.

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Read Saving Strawberry Farm by Deborah Hopkinson. Use the children's literature lesson from the St. Louis Fed to simulate a bank run. http://bit.ly/138xL3x

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Many entrepreneurs get their start through designing an invention or innovation that becomes successful. Research famous inventors by looking at: www.ideafinder.com/articles/thelists/entrepreneur.htm. As a group, vote on the top three inventors based on their creativity and success.

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Choose a job and research its income in two different countries. (Example: a starting teacher in Mexico is paid $10,465 a year, while a starting teacher in Canada is paid $35,400 a year.) Discuss why the same job can have different salary levels in different countries.

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If a company produced 10 items at $7 per item and sold all 10 at $8.50 each, what is the profit for the producer? (10 x $1.50 = $15)

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Read the original Federal Reserve Act, signed Dec. 23, 1913. Write down four key facts about the founding of the Federal Reserve System from the primary source document, available from the Librarians' Society of Washington, D.C. http://bit.ly/18qbUEL.

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Research the purposes of the World Trade Organization (WTO). Hold a mock debate where two countries use the WTO as a forum to discuss their disagreements concerning a trade policy.

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Discuss the meaning of this scarcity quote: "There is no scarcity of opportunity to make a living at what you love; there's only a scarcity of resolve to make it happen." - Wayne Dyer

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Cut out or draw pictures of three of your top wants. Estimate how much they cost and determine a budget or way to save for these items. Present your wants and savings plan to the class.

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Learn about and compare different payment methods in the Kansas City Fed's role play Payment Parliament. http://bit.ly/196JUbk

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Make a list of incentives that would persuade you to complete the task of cleaning your bedroom from top to bottom. Which of these incentives would your parents agree to?

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Visit the National Archives website to learn about the Homestead Act of 1862, which offered free land in the west to anyone over 21 if they agreed to farm it. Create a skit about the act and its effects on economic growth during that time. http://1.usa.gov/13v9G5v

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Discuss homecoming expense choices and opportunity costs. For example, with a limited amount of money, would you choose a fancy limo for transportation? Would you spend more money for a high-dollar outfit instead? Or would you spend your dollars on an expensive restaurant meal before the dance? Discuss the reasoning behind your decisions.

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Brainstorm the qualities that create credit worthiness. Assume the role of loan officers and review the credit histories of several fictitious individual who are requesting a loan. Decide to approve or reject the requests and provide rationale.

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Money doesn't grow on trees, but it can grow. Watch No Frills Money Skills episode 1 from the St. Louis Fed. Develop a table showing how saving $1,000 at 3% annual interest can compound your savings over a 6-year period. http://bit.ly/11OJ5Pt

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Your credit card company sets your minimum payment at 2% of your balance. If you have a $1,000 balance on your credit card, what will your minimum payment be? (answer: $20). (Keep in mind, if you only pay the minimum balance most of your payment goestoward interest.)

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Why do bank panics often lead to recessions or larger financial upheavals?

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Discuss this quote: "The strongest bank in the United States will last only as long as people have sufficient confidence in it to keep their money there." - Carter G. Woodson

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Brainstorm a list of careers or jobs that are associated with taxes (such as accountant). Research one of these careers to learn about the education qualifications, income level and demand for the job.

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Have students list all the extra-curricular activities they could participate in for the first semester, including sports, clubs and competitions. Discuss that scarcity of time forces them to choose between several activities they may be interested in.

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Calculate the monetary costs and benefits of running a lemonade stand using the following assumptions: mix that makes 32-oz. of lemonade costs $3 per container and a package of 50 8-oz. cups is $5. You sell 48 8-oz. cups for $2 each. (costs=$44, benefits=$96)

Bite Size Economics

Would you want to bank at an unregulated bank? Give a two-minute oral presentation explaining your position.

Bite Size Economics

Get an international view of economic growth by looking up the per capita GDP and other economic information from the CIA World Factbook. Create a Venn diagram to compare similarities and differences of two countries. http://1.usa.gov/18tqEb9

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How does the following quote relate to today's rate of savings? "In the old days, a man who saved money was a miser; nowadays, he's a wonder." - Author unknown

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Consumers can pay for purchases by using cash, checks, debit or credit cards. Use the lesson and role play for "Payment Parliament": www.kansascityfed.org/education to introduce these different forms of payments to students.

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Explain the meaning of the following quote: "Our necessities never equal our wants." - Benjamin Franklin

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Discuss this quote: "Information is the currency of democracy." - Thomas Jefferson

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Cut magazine or catalog pictures of natural, human and capital resources and place them randomly into paper bags. Divide students into groups and give each group a resource bag. Ask them to create a new business using their resources and share how each resource is used within their business to produce a product.

Bite Size Economics

Introduce the first three principles, discussing incentives as things that influence the behavior of people. Discuss the concepts of opportunity cost and monetary cost. Provide the following scenario: You are trying to decide whether to start college right after graduation or wait and work for a year before enrolling. Create a table listing the opportunity costs and monetary costs, as well as the benefits of both choices. Make your final decision and explain your reasoning.

Bite Size Economics

Explore myths and realities about the Fed using primary source materials in the Atlanta Fed's lesson Myths, Tall Tales, and Urban Legends: A Lesson on the Facts Behind the Fed. http://bit.ly/YeYn1k

Bite Size Economics

Why is money deducted from your paycheck and where does it go? Learn how to read a paystub, discuss different methods for receiving wages, and discover ways to get more from your paycheck with the Kansas City Fed's Putting Your Paycheck to Work resources. http://bit.ly/17nFIa0

Bite Size Economics

Without international trade, you may not have the items on your back. Ask students to look at the labels on their clothing and accessories, and list the countries that manufactured the items. Create a class graph showing all of the countries represented and compare label totals. Discuss whether clothing and goods made in the U.S. are a prevalent as they once were.

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View a short clip depicting a bank run from the movie, It's a Wonderful Life. Describe in a paragraph or two how depositors make poor decisions when they fear their bank is failing.

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Read A Chair for My Mother by Vera B. Williams. Use the children's literature lesson to discuss how part of the family income was saved to reach a goal: www.stlouisfed.org/education_resources/assets/lesson_plans/ChairForMother.pdf.

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Discuss the quote: "In our rich consumers' civilization, we spin cocoons around ourselves and get possessed by our possessions." - Max Lerner

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Play "Econ Bingo" after reading directions, downloading bingo cards and sample money from the Fifty Nifty Econ Cards website: www.federalreserveeducation.org/resources/fiftynifty. Award $5 of money for each bingo during the game. Let winning students use their income to purchase incentives you have supplied.

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Discuss this quote: "As scarce as truth is, the supply has always been in excess of the demand." - Josh Billings

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Introduce wants and needs and give examples of each concept. Tell the students that they will be planning a picnic lunch and will make a chart of wants and needs for the picnic. Draw a T-chart on the board, labeling one side "Needs" and the other "Wants." Ask students for ideas to complete the chart, telling whether each idea is a need or a want.

Bite Size Economics

Create a collage using magazine pictures of items you'd like to purchase in the future. Narrow your choices to two favorites. What would your final choice/opportunity cost be?

Bite Size Economics

Resource Trivia: What two fabric resources are used to make paper currency? (linen - 25%; cotton - 75%)

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Use Lesson 2: "W Is for Wages, W4 and W2" at www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf to learn about gross pay, net pay and the different deductions that are taken from paychecks.

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Introduce taxes by asking what happens on April 15. Discuss that one of the purposes of income taxes is to pay for public goods (such as parks and roads) and public services (such as police, fire and military workers). Ask students to imagine what would happen if the government didn't use tax money to provide these goods and services. Have them draw a picture of a situation where a lack of public goods or services caused a problem.

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Read Meet Kit: An American Girl by Valerie Tripp. Use the children's literature lesson from the St. Louis Fed to role play the effect that unemployment and reduced spending can have onpeople's lives during a recession. http://bit.ly/12Bxppn

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Track expenses for a week and then create a spending plan to make sure your expenses don't exceed your income.

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Review the story of the Three Little Pigs. Do a cost/benefit analysis to compare their houses of straw, sticks and bricks in terms of materials, labor, cost and effectiveness.

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Ask students to compose a story about becoming an entrepreneur, including the name and type of their new business and a description of the capital and human resources they'd need.

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A crayon factory increases its production in the months before school starts each year. If the factory produces 2,000 boxes of crayons in each five-day week for 12 weeks, how many total boxes are manufactured? (2,000 x 5=10,000 x 12=120,000)

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Develop a chart listing 10 tips that will help the environment through protecting natural resources. (Example: Pick up litter along trails and waterways.)

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Discuss counterfeit currency and how it has become more prevalent in the U.S. over the years due to technological advancements. Explain how security measures have been added to U.S. bills to thwart counterfeiters, and look at some of these features at: www.newmoney.gov/currency/default.htm. Ask a speaker from a bank to speak to the class on detecting counterfeit currency.

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Read Isabel's Car Wash by Sheila Bair and Judy Stead. Discuss how Isabel started her car wash with help from investors, who became part owners with her. Did the car wash earn a profit or show a loss in the story?

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Why is a bank holiday not something to celebrate, and why did President Franklin D. Roosevelt establish a national one in 1933? Find out in the Boston Fed's Closed for the Holiday: The Bank Holiday of 1933. http://bit.ly/11I1W4r

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What financial institution lending practices led to the establishment of the Community Reinvestment Act? Why is the CRA important to bankers and consumers today?

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Two friends set up a lemonade stand, charging 75 cents for two glasses sold. They lowered their price to 60 cents, selling four glasses. Their final price of 50 cents sold six glasses. Create a demand graph that shows this information. What was the twins' total revenue? ($6.90)

Bite Size Economics

Learn how a bank operates as a business in the Kansas City Fed's There's No Business like Bank Business activity. http://bit.ly/150sooC

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Draw a picture showing how a scarcity of natural resources can affect your daily life.

Bite Size Economics

Review the credit scenarios from the Dallas Fed's Building Wealth in the Classroom, Lesson 9. Choose one and decide whether the teen described should borrow money. Write a short persuasive essay with reasons to support your answer. http://bit.ly/10IsJHM

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Research the United States' top 15 trading partners by going to: www.census.gov/foreign-trade/statistics/highlights/topcurmon.html. Create a bar chart that shows three things: U.S. total trade with its top 15 trading partners, U.S. exports with its top 15 trading partners; and U.S. imports with its top 15 trading partners. Discuss the graph and what it shows about U.S. trade.

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Make up a rap about regretting a buying decision (buyer's remorse) and wishing you had purchased your opportunity cost instead. Perform it for the class.

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What does money mean to you? Purchasing power? Security? Freedom? Brainstorm ideas and then create a collage showing what money can represent.

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Create a PACED (Problem, Alternatives, Criteria, Evaluate, Decision) grid to determine the costs and benefits of a used car decision. Possible criteria include model; year; gas mileage; and insurance costs. Visit www.econedlink.org/lessons/docs_lessons/463_PACED1.pdf for a sample grid.

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Explore bank supervision and regulation by watching Chapter 6 of the Philadelphia Fed's video The Federal Reserve and You. Write three key facts about each of the video segments: Supervision and Regulation History, the Role of Congress, and Bank Examinations.http://bit.ly/11dWBdQ

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Use the "Professor Finance and Fed Boy Meet the Catastrophe Clan" lesson: www.kansascityfed.org/education to introduce the Credit CARD Act and consumers' credit rights and responsibilities.

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Introduce the concepts of imports and exports. Learn the top three imports and exports of your state by visiting: www.census.gov/foreigntrade/statistics/state/data/index.html. Discuss possible reasons why these resources made the top of the list. Choose a neighboring state and do the same research. Create two Venn diagrams comparing both states' imports and exports.

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Solve this income problem: Jay shoveled snow for five neighbors on his block. He earned $10 from two of them, $12 from the third, and $15 from the fourth and fifth. What was his income total? What was his average income from each shoveling job? (Total income: $62.00. Average income per job $12.40)

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Hand out various grocery receipts to students with the sales tax blacked out. Discuss that some states tax only non-food items, while others tax both food and non-food. Have students calculate the sales tax for both situations.

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Read My Side of the Mountain by Jean Craighead George. Use the children's literature lesson to discuss investing in human capital through acquiring skills and knowledge: www.stlouisfed.org/education_resources/assets/lesson_plans/MySideMountain.pdf

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Read Saturday Sancocho by Leyla Torres. Use the children's literature lesson to discuss the topic of bartering as a form of trade: www.stlouisfed.org/education_resources/assets/lesson_plans/SaturdaySancocho.pdf

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Brainstorm the skills and knowledge that will be needed in the future to work as a bank teller. Write a job posting that might be used by a local bank describing the characteristics that banks will be looking for when hiring tellers.

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Learn about online banking by becoming a quiz show participant in the Kansas City Fed's role play To Pay the Price. http://bit.ly/ZT730u

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What key historical events led to the establishment of the Federal Reserve System?

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Research the World Trade Organization (WTO) at: www.wto.org/english/thewto_e/whatis_e/whatis_e.htm. What is the goal of the WTO? List three benefits of the WTO trading system.

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Learn about the sectors of the Federal Reserve's Beige Book in the lesson Exploring Economic Sectors, available at: www.kansascityfed.org/publicat/education/teachingresources/Exploring-Economic-Sectors.pdf. Use the discussion questions provided for each sector to explore the concepts of supply and demand.

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Discuss this quote: "Don't put all your eggs in one basket," and relate it to diversifying, or having a variety, of stock investments. Why is diversification a good strategy?

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Which is the better milk buy? one gallon for $2.49; 1/2 gallon for $1.29; or one quart for $.69? (One gallon at $2.49)

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What does a camel have to do with bank supervision and regulation? Find out by reserving the Kansas City Fed's Fed Detective traveling trunk for elementary and middle schoolclassrooms. http://bit.ly/14E67M2

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Imagine your school district does not have enough money in its budget to provide all the services necessary to run your local schools. Assuming the role of the president of the school board, brainstorm a list of all the benefits of a tax increase. Then consider the perspective of a taxpayer against the increase and make a list of the monetary costs. Use the lists for a classroom debate on the topic.

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Discuss the fact that $5, $10, $20, $50 and $100 bills have all been redesigned by the Treasury and will be updated again in the future. What is the incentive for our government to do this redesigning?

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The mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services, such as banking and credit, work for Americans. Research the CFPB at: www.consumerfinance.gov/regulations. Choose a regulation and share whether or not you think it is beneficial for businesses as well as consumers.

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Develop a classroom currency to use as pay for completing projects, following rules and helping others. Discuss income earned from these tasks each week and plan a future action to spend this income at the end of the quarter, semester or year.

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Jay Eagle from the Kansas City Fed is flying throughout the Tenth District. Learn more about Jay and how to have him visit your classroom at jay.kcfed.org.

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What innovations and technological advancements have changed the U.S. payments system in the last 30 years?

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What monetary policy tools does the Federal Reserve Bank use to regulate the money supply?

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Use Lesson Two "Budget to Save: Developing a Budget" from Building Wealth in the Classroom: www.dallasfed.org/education/pubs/wealth_classroom/02_lesson.pdf to discuss budgets in relation to financial goals. Do the suggested activity of a budget analysis for a high school senior saving for the prom. Discuss areas where this budget could be streamlined to meet the student's financial goals.

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Explain that smart consumers are aware of how advertising affects them, how to protect their information, and how to spot scams. Practice these skills by going to: www.ftc.gov/youarehere to visit a virtual mall and make smart financial decisions.

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Use the limerick below to introduce surpluses and shortages. Ask students to make up their own poem about surpluses and shortages to share. There once was a price just too high,So that no one would bother to buy.On the shelf the stuff sat,Gathered dust like a floor mat.A surplus needs a lower price-that's why! And then there was a price oh so low,That folks stood in a long line, oh no!But the shelves were soon bare,Those still waiting sure cared.A higher price would have solvedtheir shortage woes.

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Trivia: U.S. household and nonprofit organizations' liabilities, which include mortgages, consumer credit, loans and securities, totaled almost $14 billion in 2010.

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Choose a publicly-traded company, such as Amazon (AMZN), and follow the price of that company's stock each week for a month. Report whether the price has increased or decreased during that time, and provide a recommendation on buying the stock.

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Focus on and discuss human capital: the skills, talents and education that people possess. Discuss how improving human capital through education and training correlates with increasing income. Ask students to research and share education levels and average income of chosen careers by going to the Bureau of Labor Statistics website to look at the Occupational Outlook Handbook: www.bls.gov/oco.

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Imagine two people: one who has access to credit, and one who does not. Discuss the advantages of having access to credit and the barriers of non-access to credit and how it might shape each individual's future as his or her life unfolds.

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Explain a market economy as an economy that operates by voluntary exchange between buyers and sellers in a free market not planned or controlled by government. Ask students to research this and other types, such as traditional and command economies: http://www.councilforeconed.org/resources/lessons/whateconisabout-sample.pdf. Discuss the differences in the three economies and why a market economy works best in our country.

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Interview family members or neighbors about the recent recession and any changes or effects it had on their lifestyles. Report your findings to the class.

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Why is there a lag time between the beginning of a recessionary period and when it is officially declared a recession? Answer this discussion question and more with the Kansas City Fed's Teaching Tips: Recessions 101. http://bit.ly/11ML6M3

Bite Size Economics

Introduce counterfeit money ("fake currency") as the major reason bills have been redesigned. Look at a real note online: www.newmoney.gov/currency/20.htm. Identify security measures placed on new U.S. currency including color, watermarks and micro-printing.

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Use the lesson plan and role play "Professor Finance and Fed Boy Meet the Catastrophe Clan" to discuss the uses and misuses of credit: http://kansascityfed.org/publicat/education/teachingresources/fed_boy_lesson_plan.pdf

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Wants and needs may vary depending on culture. Research wants and needs around the world and compare and contrast them with your own community.

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Brainstorm ways students can earn income and make a chart of ideas. (Examples: allowance, chores, birthday/holiday gifts, garage sales, etc.) Ask students to set future savings goals (for things they will spend their income on) and share with the class.

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Use the "Creative Story Starter-Enterprising Entrepreneur" activity from the Fifty Nifty website: www.federalreserveeducation.org/resources/fiftynifty to have students write about a new product or business they would create.

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Read Free Enterprise: The Economics of Cooperation, available at www.dallasfed.org/educate/classroom.cfm, to learn about the role of businesses in a free-enterprise system.

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After discussing entrepreneurship, ask students to interview an entrepreneur in their community. Interview questions could include: describing their business; explaining how they financed their venture; discussing any challenges in their business; and describing a typical work day. Share completed interviews with the class.

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Trade barriers are costs that raise the price of traded products. Examples are tariffs, import and export quotas, and embargoes. In groups, research and make charts to compare and contrast these barriers.

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Examine samples of foreign currency by going to: www.clevelandfed.org/Learning_Center/Online_Activities/explore_money/index.cfm. Compare bill features for three chosen countries. How are these notes similar? How are they different? What are some basic features that are common to all currency studied?

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The following statements are common descriptions of credit. Discuss each example and use one as a topic for a creative story.Credit is your reputation for financial responsibility.Credit is the time allowed for payment for something sold on trust.Credit is a source of revenue for financial institutions.Credit is NOT more money; it is "tomorrow's" money.

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Discuss fixed budget expenses (costs that remain the same) and variable expenses (costs that change). Write and perform a skit about college students living on campus who deal with these expenses.

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Research and list the components of GDP by expenditure. What is the largest component of U.S. GDP? (consumption)

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Read The Goat in the Rug by Charles Blook and Martin Link. Use the children's literature lesson to discuss the topic of resources in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/GoatintheRug.pdf

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Create a skit in small groups about possible financial situations at age 65 (i.e., no savings vs. wealthy investor). Discuss possible actions that can lead to financial security in retirement.

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Introduce the stock market as a market in which the public buys and sells stock, or shares of ownership in companies. Brainstorm companies that students are familiar with (such as McDonalds, Nike, Toys R Us, etc.) and ask students to nominate the five best choices for stock purchases. Discuss the reasons for their picks.

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How did the settlement pattern of the United States influence the location decisions for Federal Reserve Banks?

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Research the characteristics of a savings account, certificate ofdeposit, money market account and savings bond. Using the scenarioof a short-term savings goal, decide which one would be the bestplace for your money and explain your reasoning.

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In a classroom mini-economy where everyone has a designated income, have the government (the teacher) set tax rates during different periods to illustrate progressive, proportional and regressive taxes.

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Introduce budgeting as a plan for spending, saving and sharing money by balancing income with expenses. Ask students to divide drawing paper into three sections and draw examples of these three ways to use money. Ask them to explain which of these examples is easiest for them to do and to give reasons why.

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Your school had a pancake breakfast to raise funds for the sports teams. Expenses included paying for food and set-up costs, which were $949. The number of dinners sold was 275 at $6.00 each. What was the total income from the event? What was the profit after expenses? ($1650; $701)

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Research three universities you may want to attend. Evaluate each one using a decision grid with these criteria: size, location, fields of study and tuition cost.

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Create a rap or song titled, "Invest in Yourself." Include all the ways to invest in your human capital, such as more education, training and practicing to gain experience, and taking care of your health. Perform your verses for the class.

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Introduce the concepts of income and expenses. Give students the following scenario: Your family has decided to take a summer vacation to Disney World. You are responsible for earning money to spend on park passes and souvenirs during the trip. Brainstorm three ways to earn money and estimate approximately how much income you might receive from each activity. Write a letter to your parents explaining your fundraising plans.

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Ask students to keep a financial journal, writing down what they spendand save for 30 days. They should keep track of the amount they spendin one column and the amount they save in another column. At the endof the 30 days, ask them to total the amounts of each column and figurethe percentage of money they spent and the percentage they saved.

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Read So Few of Me by Peter Reynolds. Use the children's literature lesson to discuss the topic of opportunity cost in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/SoFewOfMe.pdf.

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Create a map of the neighborhood surrounding the school. Have students add the names of businesses in that area to the map, as well as what good or service they sell. Ask students to suggest other businesses that would complement those already in the neighborhood.

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Choose a product and research the price of that product during a 10-year period. Graph the changes over time and discuss possible reasons for those changes, such as the increasing priceof materials, a better quality product, inflation, etc.

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Share pictures of different careers, and challenge students to analyze the costs and benefits of working in each career. Have them research information on salaries, education levels, work environment and job outlook by going to: www.bls.gov/oco/ooh_index.htm. Ask them to make a table listing this information for five careers, and then decide which career provides the most benefits and the least costs.

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Go to the following website to learn about McDonald's: http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html. Look through the timeline and share three risks the company took as it became an established business.

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Design a new $500 bill with your nominee in the portrait. Remember to include legal currency details, such as denomination, serial numbers, seals and signatures. Add additional details to make your note unique.

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Summarize the tale of Little Red Riding Hood. What was the cost of Little Red ignoring her mother's advice on her way to Grandmother's house? What would have been the benefit ifshe had listened?

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Use lesson 2, "W is for Wages, W4 and W2," from It's Your Paycheck personal finance curriculum to learn what deductions are taken from weekly/monthly income. Discuss why these deductions are necessary for the government and the individual. www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf

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Explain the wisdom of this quote: "If you lend someone $20, and never see that person again, it was probably worth it."

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Discuss "interest" as "payments made for the use of money." Ask students if they think earning interest when they deposit money in a savings account is a good incentive to save. Why or why not?

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Discuss what economists mean when they say, "There is no such thing as a free lunch." How does this quotation relate to costs and benefits?

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Discuss the meaning of this quote: "A wise man should have money in his head, but not in his heart." - Jonathan Swift

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What could happen to the price of gasoline if demand increases worldwide? Will prices increase or decrease? What could happen to the price if new oil pipelines add to the supply of gasoline? Will prices increase or decrease?

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Introduce the concepts of producers and consumers. Brainstorm a list of producers, such as artists, bakers, farmers and manufacturers of different products. Ask students to role-play various producers as they create their products. Have classmates guess what good or service each producer provides for consumers.

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Just for fun, try saying this tongue twister quickly three times: Skyler scored the scarce scholarship.

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The launch of the Air Jordan retro basketball shoe sale caused long lines, fights and store closings across the United States. Discuss the concepts of supply and demand in this situation. Ask students to give reasons why these shoes sold out, even though their retail price was $180 a pair.

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Draw a cartoon to portray one of the following label instructions found on consumer goods: hairdryer-never use while sleeping; iron-do not iron clothes on body; child's costume-cape does not enable user to fly.

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The interest on your savings account has increased from 1% to 2.5%. How much interest would your $100 deposit earn in a year (without compounding) at each percentage? ($1; $2.50) Explain how receiving interest can be an incentive to save.