Middle School Resources

Help set middle school students on the path to understand an economic way of thinking and personal finance concepts with these lessons and resources.

Our Most Popular Resources

Crenshaw

This lesson based on the book Crenshaw discusses the challenges faced by those living in poverty.

A Loan at Last

This role play activity introduces students to the loan process involved in buying a car and creditworthiness.

Behave Yourself: Behavioral Economics for Kids

Learn about behavioral economic concepts and participate in activities to better understand the effects on students' lives.

To Pay the Price

Learn about online banking and electronic payments through a quiz show role play.

Core Concept Cards

Use these vocabulary cards to help students develop a framework for an economic way of thinking.

Entrepreneurship in the Classroom

Explore entrepreneurship with students as an opportunity for a future career path.

Featured Resources

Cultural Relevance in the Classroom

Tap into these resources for educators and the classroom to incorporate frameworks and resources that are culturally responsive.

Opportunity Occupations

Help students think critically about "opportunity occupations" in their area and their own future career goals.


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Bite Size Economics

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.

Bite Size Economics

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).

Bite Size Economics

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

Bite Size Economics

Discuss with students how they make daily decisions, selecting one choice and giving up a second as an opportunity cost. Have them draw two locations for their next birthday party, make a final decision, and label one "my choice" and the other "my opportunity cost."

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

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

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

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

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.

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

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

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.

Bite Size Economics

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?

Bite Size Economics

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?

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

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.

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

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.

Bite Size Economics

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

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

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

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

Bite Size Economics

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?

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

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 choose a class business that might be successful in their school, such as a craft, food or entertainment business. Create a business plan, including the following: resources needed, production process, product display, advertising, pricing and labor schedule. Present the plan to your principal for approval.

Bite Size Economics

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

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

Bite Size Economics

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?

Bite Size Economics

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.

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

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

Bite Size Economics

Write a haiku on the importance of paying yourself first.

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 Ten Mile Day by Mary Ann Fraser. Use the children's literature lesson to discuss the role of production in the development of the transcontinental railroad: www.stlouisfed.org/education_resources/assets/lesson_plans/TenMileDay.pdf

Bite Size Economics

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.

Bite Size Economics

Create a map of the Federal Reserve System following the directions from the St. Louis Fed's 25 Cents Worth of History. Locate your state and outline it in your favorite color. Which Federal Reserve Bank is closest to where you live? http:/bit.ly/103kPqV

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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

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.

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

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

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.

Bite Size Economics

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?

Bite Size Economics

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)

Bite Size Economics

Look at a map of the Federal Reserve System. Discuss reasons why there are more Federal Reserve Banks on the East Coast than the West Coast. Find a map at http://1.usa.gov/11CECzE

Bite Size Economics

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?

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

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

Bite Size Economics

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

Bite Size Economics

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

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

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

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

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

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 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?

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

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.

Bite Size Economics

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

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

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.

Bite Size Economics

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.

Bite Size Economics

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

Create a trophy that could be awarded as a classroom incentive for the best singer, athlete or leader in the group.

Bite Size Economics

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

Bite Size Economics

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.

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

Write about a situation where a scarcity of food, money or time caused a problem, and how that problem was solved.

Bite Size Economics

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.

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

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.

Bite Size Economics

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

Bite Size Economics

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

Bite Size Economics

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.

Bite Size Economics

Gas prices are $3.29 a gallon and then increase to $3.69 a gallon due to a shortage. How much would 18 gallons of gas cost at each price? ($59.22; $66.42) How much would you save if you purchased gas at the lower price? ($7.20)

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

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

Bite Size Economics

Develop a budget for a classic picnic. Use grocery ads to plan a meal for 20 students that includes an entrêe, two sides and a dessert, for $50 or less

Bite Size Economics

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

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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)

Bite Size Economics

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.

Bite Size Economics

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

Bite Size Economics

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.

Bite Size Economics

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

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

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?

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

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

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.

Bite Size Economics

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

Bite Size Economics

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

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

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

Bite Size Economics

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.

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

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

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)

Bite Size Economics

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.

Bite Size Economics

How will paying for goods and services change in the future? Invent and illustrate a new method of payment for the year 2025. Label invention parts and write a brief explanation telling how to use your payment method.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

Draw pictures that represent financial words and write the definitions of the words on the opposite side. Save these financial flashcards to use for review. Suggested words: bank, save, deposit, withdrawal, interest, emergency fund, short-term goal, long-term goal.

Bite Size Economics

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.

Bite Size Economics

Ask students to imagine they have landed on a deserted island and will be living there until they are rescued. Have them work in pairs to develop two lists: one of their daily needs to survive, and the other of their wants while on the island. Share lists and discuss ideas with the class.

Bite Size Economics

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.

Bite Size Economics

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?

Bite Size Economics

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).

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

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?

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

Debate the pros and cons of using money as an incentive for getting higher grades. Is this a good practice? Will this encourage students to work harder for grades?

Bite Size Economics

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

Bite Size Economics

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.

Bite Size Economics

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

Bite Size Economics

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

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

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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)

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

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

Use the lesson plan and role play for "Payment Parliament" to teach students about the many ways we pay for goods and services: www.kansascityfed.org/publicat/education/teachingresources/Payment%20Parliament.pdf.

Bite Size Economics

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

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

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

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.

Bite Size Economics

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.

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

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?

Bite Size Economics

Explain the benefits as well as the costs (monetary and nonmonetary) of owning a pet. Draw a picture of three pets, listing one cost and one benefit for each.

Bite Size Economics

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?

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

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.

Bite Size Economics

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.

Bite Size Economics

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

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

Use the following questions to interview three people about their spending habits as consumers: Where do you shop the most? Are you more concerned with price or quality? Is customer service important to you? Compare interview results with a classmate.

Bite Size Economics

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)

Bite Size Economics

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.

Bite Size Economics

Taylor purchased candy bars from the store at 50 cents each. She wants to sell them at school after lunch for $1 each. From what you've learned about supply and demand, what advice would you give Taylor regarding her price?

Bite Size Economics

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

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

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.

Bite Size Economics

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.

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

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.)

Bite Size Economics

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

Bite Size Economics

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.

Bite Size Economics

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.

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

Follow the lesson plan for "Abraham Lincoln and the Five-Dollar Note" to learn why Lincoln is portrayed on this note and the features of the redesigned $5 bill: www.stlouisfed.org/education_resources/assets/lesson_plans/Lincoln$5Note.pdf.

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

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

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)

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

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.

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

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.

Bite Size Economics

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

Bite Size Economics

Discuss Halloween and the practice of "trick-or-treating." Would this holiday be as much fun if the incentive of candy wasn't given out to trick or treaters? Would you still want to "trick-or-treat?" The "treat" can influence the behavior of kids. Take a survey to decide which type of treat is the best incentive: chocolate bars, fruit-flavored candy, gum and other choices.

Bite Size Economics

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.

Bite Size Economics

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

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

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.

Bite Size Economics

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.

Bite Size Economics

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

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

Bite Size Economics

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.

Bite Size Economics

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

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

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

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)

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 fable of the Grasshopper and the Ant and its "saving for the future" moral. Rewrite the fable using human characters to make the spending and savings decisions.

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

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

Bite Size Economics

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?

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

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.

Bite Size Economics

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)

Bite Size Economics

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?

Bite Size Economics

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

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

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

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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

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

Add together all the bill denominations currently in circulation. What is your dollar total? ($1+$2+$5+$10+$20+$50+$100=$188)

Bite Size Economics

Use the lesson plan "Currency and the Fed" to introduce students to the functions of money and the Federal Reserve System: www.stlouisfed.org/education/assets/lesson_plans/Currency&Fed.pdf. Ask students to write a brief newspaper article on how money is handled by the Federal Reserve.

Bite Size Economics

Discuss the word "panic" and brainstorm situations in which people may panic (severe weather, accidents, fire, etc.) How do you feel when you panic? Why could these feelings cause you to take actions you normally wouldn't? Relate these feelings to bank panics.

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

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

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.)

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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

Bite Size Economics

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)

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

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

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)

Bite Size Economics

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

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

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.

Bite Size Economics

"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.

Bite Size Economics

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

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?

Bite Size Economics

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

Bite Size Economics

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.

Bite Size Economics

Discuss capital resources in the area of technology by brainstorming types of technological resources used daily by students. Have students rank these devices by importance in their lives. Which of these capital resources could they do without? How would they compensate?

Bite Size Economics

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

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

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.

Bite Size Economics

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.)

Bite Size Economics

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)

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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.

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

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

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.

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

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

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 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.

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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

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

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

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

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.

Bite Size Economics

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

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

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

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.

Bite Size Economics

The Federal Deposit Insurance Corporation, or FDIC, insures bank accounts up to $250,000 per account holder. What part of $1,000,000 is $250,000? (answer: one fourth or 25%)

Bite Size Economics

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.

Bite Size Economics

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.

Bite Size Economics

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

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

Bite Size Economics

Introduce the definitions for save and spend. Describe short-term savings goals as items students want that will require saving for several months. Ask students to choose an item as a savings goal, estimate the cost of the item and figure the amount they would have to save weekly to reach their goal. Have students share their goals and savings plans with the class.

Bite Size Economics

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.

Bite Size Economics

Introduce the concepts of supply and demand. Give students play money and set out items for sale such as pencils, erasers and stickers. Set some prices low to encourage sales and others higher to discourage buyers. Let students shop, and then discuss the demand for the products at various prices.

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

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

Bite Size Economics

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?

Bite Size Economics

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