Common Cents

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

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?

Download the St. Louis Fed's Econ Ed Mobile App to explore the cost of using credit. Learn how interest is calculated, and then use the Credit Cost Calculator to see how interest ratesaffect monthly payments and the total cost of a purchase. http://bit.ly/11zNwSM

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.

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.

Write a haiku on the importance of paying yourself first.

You have saved enough money to buy your first computer! Which is the better buy: a laptop for $599, a case for $29, and a mouse for $19; or a desktop monitor for $149, a computer tower for $469, and a keyboard with mouse for $39? (laptop package=$647; desktop package=$657)

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

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.

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

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

Discuss that not all organizations are required to pay taxes to the government. These include schools, churches and not-for-profit groups, such as scouts, animal protection agencies and charities. Ask the class for reasons why these organizations are tax-exempt and whether they think this is fair to everyone else. Have students write a letter to the school newspaper explaining their opinion.

Watch the Economic Lowdown video on supply at: http://www.stlouisfed.org/education_resources/economic-lowdown-video-companion-series/episode-1-supply/. Draw and explain the basic supply curve shown in the video. Howcan this curve change based on market conditions?

Check out the Kansas City Fed's Financial Fables ebooks to discover how "money morals" can help students from preschool to fifth grade become money smart. http://bit.ly/11OINYK

Starting your own business as an entrepreneur has opportunity for profit and possibility of loss. Brainstorm a list of potential businesses to start and then list possible profits and losses for one of those businesses. Debate whether the business risks are worth the rewards.

Work in pairs to design a new and improved ATM for 2020. Make posters to highlight services and features that might be available in the future. As a class, vote on the best future design.

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.

Discover what it takes to be a bank examiner at the Federal Reserve by reviewing an examiner job description from the Kansas City Fed. What are the three college degrees recommended for a bank examiner? http://bit.ly/18lWMKo

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.

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.

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

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?

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.

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.

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?

How do the Federal Reserve and the European Central Bank compare? Read A Look Inside Two Central Banks: The European Central Bank and the Federal Reserve from the St. Louis Fedand create a Venn diagram showing three similarities and three differences between the organizations. http://bit.ly/15JSIQF

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

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.

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.

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.

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.

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.)

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.

Discuss the meaning of this quote: "An opportunity cost is an opportunity lost."

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.

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.

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.

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.

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.

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

Just who was Salmon Chase and why was he on a $10,000 banknote? Explore the American Currency Exhibit: www.frbsf.org/education/teacher-resources/american-currency-exhibit/showcase-of-bills to learn how our country's history is reflected on our currency.

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?

Read Pickle Patch Bath Tub by Frances Kennedy. Use the children's literature lesson to discuss the topic of income in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/PicklepatchBathTub.pdf

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.

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?

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.

Some areas routinely experience water shortages. List the ways you use water every day. How could you cut down your usage or recycle water to help reduce water shortages? Create a public service announcement featuring your water saving ideas.

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.

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.

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.

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.

Compare the unit price, or cost per item, of products. To find unit price, divide the price by the number of pieces, ounces or pounds. What would be the unit price for a 20 pound bag of dog food priced at $15? ($.75 per pound)

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

Take turns pantomiming workers performing service type jobs, such as bus driver, construction worker, chef, etc. Have the class try to guess which services are being acted out.

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

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.

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

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.

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.

The Philadelphia Fed's video The Federal Reserve and You features 70 short segments about the Fed, money and banking. Watch the first chapter for an overview of the Federal ReserveSystem. http://bit.ly/11dWbdQ

Watch Katrina's Classroom from the Atlanta Fed to understand how natural disasters can affect banking services. Write a creative story about leaving your home due to a natural disaster and the steps you would take to be financially stable during this time.http://bit.ly/14C0lYK

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.

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.

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

Debate this topic: "The benefits of making financial mistakes outweigh the costs."

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

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.

Which is greater: $1 million, or a penny that doubles in value for 30 days? Use a calculator to figure out the compound interest of the doubling penny by taking each new total and multiplying by 2 to double. (The final total for the doubling penny is $5,368,709.12)

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

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

Read The Pickle Patch Bathtub by Frances Kennedy. Use the St. Louis Fed's children's literature lesson to discuss the topic of developing a plan to achieve your savings goal: http://bit.ly/12LedV1

Food shortages occur throughout the world due to disasters, war and population increases. Research how the United States helps at: http://foodaid.org/resources/the-history-of-food-aid/. Create a visual illustrating how these food programs enable countries to become more self-sufficient.

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.

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.

Examine currency from other countries and see what it can reveal about their culture and economy with the Cleveland Fed's Explore Money from Around the World online activity. http://bit.ly/11MDk3I

Discuss this proverb: "It is a wise man who lives with money in the bank, it is a fool who dies that way."

What does Penny Pigeon learn about saving and building assets? Read the Financial Fable Penny Pigeon and the Missing Nest Egg to find out at: http://www.kansascityfed.org/education/fables/index.cfm.

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.)

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.

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.

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

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.

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

Place a variety of job titles with their associated incomes in a hat and then place an assortment of typical monthly expenses in another hat. Draw one job and income and five monthly expenses. Determine if the income exceeds the monthly expenses.

Learn about federal income taxes, FICA, W-4 and W-2 forms in Know your dough Lesson Two: "W" is for Wages, W-4 and W-2: www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf.

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.

Brainstorm a class list of typical weekly expenses and add the estimated costs. Find ways to cut expenses and add the new estimated costs. Subtract the new total from the original one to discover how much money can now be saved.

Introduce the first two principles and the concept of opportunity cost (see above). Ask students to imagine they are trying to decide if they want to try out for a sports team. Have them list the costs and benefits of playing on a team. After comparing the costs with the benefits, have each student make a final choice and explain their decision.

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

Read the book Alexander Who Used to be Rich Last Saturday to introduce saving money. Start with Alexander's dollar on the board and subtract the amount of his purchases throughout the story. Discuss Alexander's spending decisions.

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?

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

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.

Discuss the meaning of this quote: "Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs." - Herbert Hoover

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.

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.

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.

Research Mattel, Hasbro or other toy companies to see how they determine what toys to produce and supply to retail stores. Use the information you find to predict what toys might be popular in 2020.

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.

Before Harry Truman became the 33rd president, he was a Kansas City entrepreneur in which business? A) Finance B) Newspaper C) Clothing. Answer: C) He ran a business that tailored men's clothing.

Introduce the concepts of asset and liability. Brainstorm a list of students' current assets and discuss items that they would like to own as future assets. Ask students to design a tri-fold showing their assets now, possible future assets and their savings plan to get these assets.

Discuss the growing threat of identity theft. Ask students to write tips for consumers to follow in keeping their identity safe. (Example: Memorize your Social Security number so you won't need to carry your card with you.)

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.

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.

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)

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.

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.

Create a three-column KWL (What I know, want to know, and what I've learned) about credit cards. Brainstorm to complete the first two columns, then discuss information from the Federal Reserve's website on credit cards: www.federalreserve.gov/creditcard. Summarize what students have learned by asking them to create true/false statements about credit to complete the third column.

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.

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

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..."

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.

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

Use handout 3 from lesson 4 of Building Wealth in the Classroom from the Dallas Fed to compare the interest rate, fees and additional information on five account types from a local bank. Share your findings. Once everyone shares, discuss the account and bank you would select. http://bit.ly/18kHBE4

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

Hold a discussion on this topic: "When choosing a career, income is more important than passion for the job." Ask students to give reasons for their views.

Why have other countries adopted mobile payments faster than the United States? Find out in the Atlanta Fed's podcast The Future of Mobile Payments. Write a description of a mobile payment option you think would work best in United States. http://bit.ly/11YTIOu

Discuss the difference between fact and opinion statements used to market a product. Hand out advertisements from magazines that contain both types of statements and ask students to identify the facts and opinions given. How can an awareness of these statements help consumers make wise choices?

Draw a picture that shows farmers trading equipment, crops or labor with each other. Explain how this trade situation helps farmers and their families.

Learn about market equilibrium, or the point at which there is no shortage or surplus of a good or service, by watching the third episode of the Economic Lowdown Video Companion Series at: www.stlouisfed.org/education_resources/video_podcasts.cfm.

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.

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?

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.

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)

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

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

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

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?

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?

Compare the prices of store-brand items you need (milk, soap, clothing, etc.) versus the name-brands you want. Are the name brand items worth the price? Give reasons to back your opinion.

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?

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

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

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.

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.

"You Can't Always Get What You Want" by the Rolling Stones is a classic rock song that refers to wants and needs. Brainstorm a class list of other songs on the topic of wants and needs.

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

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.

Use the lesson "M&M Interesting," found at http://ecedweb.unomaha.edu/lessons/M&M6-8.pdf# to learn about the advantages of compound interest. Discuss why it is important to start a savings account while you are young.

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

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.

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

Introduce the topic of credit and discuss the responsibilities of credit use. Discuss the rule of thumb that credit should not be used for purchase of basic needs (such as groceries, utilities and rent). Make two lists of goods and services. Include items that are good purchases to make with credit on one list, and on the other list detail items you do NOT want to purchase using credit.

Discuss how businesses invest in capital resources, such as newer computers, machines and technology. How can spending money on these resources lead to profits in the long term?

The St. Louis Fed offers instant message simulations on a variety of personal finance topics. Try one and learn about how to open a bank account. http://bit.ly/14C0qf1

Display items manufactured by different countries, such as electronics, food products and clothing. Ask students to list the manufacturing country of each good. Have them locate these countries on a large blank world map, using one dot per manufactured good. Discuss reasons why some countries may have more dots than others.

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.

Write a short essay explaining the reasoning for tariffs on imports to the United States.

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.

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

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

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

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?

Learn what happens when the price of an asset becomes artificially high in Recession Lesson: Asset Bubbles, available at: www.kansascityfed.org/publicat/education/teachingresources/RecessionLesson-AssetBubbles.pdf.

Trivia: Did you know that the United States is the world's largest consumer of oil? No other country consumes even half as much of the 20 million barrels a day used by the United States.

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.

Introduce the economic meanings of cost and benefit. Discuss that both are not always money-related, using the example of the costs and benefits of doing homework. Have students brainstorm a list of costs (losses) and benefits (gains) they experience by doing their homework. Take a vote to decide if the costs outweigh the benefits or vice versa.

Discuss this quote: "The only thing we have to fear is fear itself". - Franklin D. Roosevelt. How could these words relate to bank panics?

Use the school cafeteria as an example of a business that provides goods and services. Tell students that goods are things that satisfy wants, such as food and utensils. Services are activities that satisfy wants, such as cooking the food and cleaning the cafeteria. Ask students to draw cafeteria foods or other goods on one side of art paper and activities or services on the other side.

Find auto loan 36-month interest rates for a used car from three banks. Record the rates and any additional fees or conditions from each bank. Discuss which bank you would choose to finance your car loan and give reasons why.

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.

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

Talk about the choices and opportunity costs of school cafeteria lunches with students. Compare the entrêe, salad, sandwich and other choices for the day. What final choice did they make? What was their opportunity cost? Continue each day for a week and have students graph individual and class choices and opportunity costs.

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.)

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

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.

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).

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?

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.)

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.

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

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.

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

Look at a dime and identify the portrait. Use the lesson plan, "Why is Roosevelt on the Dime" available at: http://www.usmint.gov/kids/teachers/lessonplans/viewLP.cfm?id=29 to learn more about Franklin Roosevelt and why he was chosen for the dime.

Read Uncle Jed's Barbershop by Margaree King Mitchell. Use the children's literature lesson to discuss the challenges of entrepreneurship: www.stlouisfed.org/education_resources/assets/lesson_plans/UncleJedsBarbershop.pdf.

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.

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

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

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

Write and perform a rap highlighting one or two of the principles you've discussed from the Guide to Economic Reasoning. Give examples explaining the principles in your lyrics.

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

Play "Another Action Hero" in Show Business: The Economic$ of Entertainment at www.bos.frb.org/entertainment/index.htm to learn what the film industry can teach about international trade and globalization.

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.

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)

Research the concept of balance of trade. Define this term and explain what it means to the U.S. economy.

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

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.

Use the FDIC's EDIE the Estimator tool to explore how FDIC insurance protects depositors. Try the simulator using varying deposit balances to determine the FDIC coverage limit for a single account. Check your answer by reviewing the page's Deposit Insurance FAQs. http://1.usa.gov/YVeeTe

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.

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.

Working in groups, use restaurant menus to pick something to order and then calculate the sales tax on the order. Report the cost with tax and figure the tip using the tax rate as a guide.

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

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

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.

Use the Core Concepts Cards net worth calculator, available at www.federalreserveeducation.org/resources/coreconcepts/worksheets/whatsyournet, to figure your net worth. How can you increase assets or decrease liabilities to add value to your net worth?

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.

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.

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

Introduce stocks as shares of ownership in a company. Ask students to choose a company they are familiar with and follow its stock price online or in a newspaper. Have them record the closing stock price each Friday for a month. Ask them to give a presentation with the following information: the weekly profit/loss from shares purchased (subtractclosing prices from one week to the next); and the monthly profit/loss (subtract week one from four).

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.

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.

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.

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.

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?

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.

Ask students to inventory their personal assets and liabilities and develop a graphic organizer with their results. Have them rate their personal financial situation as great, okay or needing improvement. Tell them to write three goals for their financial health in the next year.

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

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

Learn about entrepreneurs and economic growth through the Kansas City Fed's lesson Do I Have What it Takes to be an Entrepreneur - and is my Community Ready? Calculate the breadth and depth of entrepreneurship in your county, and discuss if your area is ready to encourage more growth. http://bit.ly/12DHl1H

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)

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.

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?

Political cartoons show opinions. Look at the cartoons featured throughout the Kansas City Fed's Balance of Power, Under Pressure, or Integrity, Fairness and Resolve books. Create an original political cartoon related to the Federal Reserve and explain your message.http://bit.ly/11CEUqr

Discuss this quote: "A man with a surplus can control circumstances, but a man without a surplus is controlled by them, and often has no opportunity to exercise judgment." - Marshall Field

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.

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

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.

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

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

Discuss the meaning of this quote: "Henry Ford was right. A prosperous economy requires that workers be able to buy the products they produce. This is as true in a global economy as a national one." - John J. Sweeney

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

Opportunity cost is the next best choice given up when making a decision. Write and perform a skit where the main character makes a decision on whether to take a part-time job. Make sure to include the opportunity cost.

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.

You have two possible babysitting jobs for Saturday - one watching 6-year-old twins for four hours at $3 an hour, and one with two kids, ages 1 and 3, for four hours at $4 an hour. How much would you earn from each job? What would your choice/opportunity cost be?

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.

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.

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

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

Consumer trivia: What is phishing? (a scam where internet fraudsters send spam or pop-up messages to lure personal information from unsuspecting victims.) Why should consumers be aware of this scam?

Compose a song or a rap about being a "savvy shopper." Include verses about comparison shopping, purchasing quality vs. quantity, and avoiding buyer's remorse.

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.

Discuss what Thomas Jefferson meant when he said, "The merchant has no country."

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

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.

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

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.

Use the Kansas City Fed's Exploring Economic Sectors lesson to learn how the Federal Reserve assesses economic conditions in the United States. http://bit.ly/13mAbfu

Set up a classroom market where students can experience the buying and selling of goods and services by using the "Math: Paying the Price: activity from the Nifty Fifty Econ Cards website: www.federalreserveeducation.org/resources/fiftynifty

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.

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

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.

The Fed is the lender of last resort to financial institutions. Watch Federal Reserve Chairman Ben Bernanke explain this role in lecture one of The Federal Reserve and the Financial Crisis. Draw a political cartoon illustrating how the Fed might assist banks during a financialpanic. http://1.usa.gov/12Txk0q

Look up the current national budget deficit at www.brillig.com/debt_clock. Consider methods to reduce the deficit, and write a letter to Congress with recommendations.

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?

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.

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.

Invite a small business owner to speak to the class. Ask students to prepare interview questions about the assets and liabilities most business owners have and ways to increase thenet worth of a business.

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.

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

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.

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

Look closely at a one-dollar bill. What symbols and words do you see that connect this bill with the Federal Reserve?

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

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.

A class of 28 students earned popsicles. The teacher bought 2 boxes of popsicles, with 12 in each box. How many more popsicles does the teacher need to avoid a scarcity in her classroom? (4 more)

Explore the evolvement of the payment system by watching Chapter 5 of the Philadelphia Fed's video The Federal Reserve and You. Create a public service announcement highlighting the Fed's role in providing cash and electronic payment services. http://bit.ly/11dWBdQ

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.

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)

Introduce the three types of resources, giving examples of each:Natural - gifts of nature used to make goods and services;Human - workers who make goods and provide services;Capital - goods made and used to provide other goods and services.Hand out magazines and have students find pictures of each type of resource. Use images to create a class resource poster with three columns labeled for the different resource types.

How do students buy their goods and services? How many shop online versus going to brick-and-mortar stores? Discuss the use of shopping apps and how they help in comparing prices. Do students ever use apps to comparison shop?

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.

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.

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.

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.

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

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

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.

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?

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.

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.

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

Write a short story about your last five purchases and whether each was a want or a need. Include lessons you've learned about your spending habits and steps you can take in the future to purchase fewer wants and more needs.

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.

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.

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

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)

Determine which economic principle relates best to the following quote, and then explain its meaning: "I'm talking about economics as forecasting the future. If you own auto stocks, you ought to be very interested in used car prices." - Peter Lynch

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

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.

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.

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.

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.

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

Become better informed about payment cards from the Philadelphia Fed's resource What You Need to Know about Payment Cards. Design a poster showing the advantages and disadvantages of the three main types of payment cards. http://bit.ly/18D0HGm

Watch the Economic Lowdown video on equilibrium at: http://www.stlouisfed.org/education_resources/podcasts/economic_lowdown_video_3.cfm. How do the concepts of surplus and shortage relate to market equilibrium?

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.

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

Research the household savings rates of several different countries. Make a chart comparing the rates. Which country's rate is the highest? What are some possible reasons for this?

Make a collage of magazine ads that would appeal to consumers urging them to save money, possibly by living greener.

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.

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

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

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?

What is the value of the largest note ever printed? ($100,000) Which president was on the bill? (Woodrow Wilson)

Read The Panic of 1907 by the Boston Fed. Write a skit titled "We Survived the Bank Panic," describing the thoughts and emotions that people may feel as they wait in line to withdraw money before their bank closes for business. http://bit.ly/1840vMy

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.

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

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.

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?

Ask students to design the "Market of the Future" by drawing a blueprint of their dream store. Have them include basic food departments and cashier areas, and then add original areas to make their market unique.