[close window]
Virtual Economics

PRINT LESSONS:

Theme 4: Lesson 13 - Establishing Credit
Financial Fitness for Life: Shaping Up Your Financial Future - Grades 6-8 - Teacher Guide
Lenders are in business to grant loans to individuals and businesses. However, the applicant's ability to repay a loan can mean the difference between profit and loss for the lender. To reduce risk, the lender assesses the applicant's credit-worthiness by reviewing his or her character, capacity for repayment, and collateral. In this lesson, the students will work through exercises to assess th...
Grade(s): 6-8
Concepts: The three 'Cs' of credit, Character, Capacity, Collateral, The rights and responsibilities of borrowers, Borrowers

Lesson 14 - Credit: Your Best Friend or Your Worst Enemy?
Learning, Earning and Investing: High School
The students do an exercise that shows how credit can be their worst enemy. They learn how quickly credit card balances can grow and how long it can take to pay off a credit-card debt. They also learn that credit can be their best friend. Working in small groups, they consider seven scenarios and decide in each case whether it would be wise for the people involved to use credit. They discuss their...
Grade(s): 6-8, 9-12
Concepts: Choice, Costs and benefits, Credit, Debt, Interest, Revolving credit

Theme 5: Lesson 16 - Choosing and Using a Checking Account
Financial Fitness for Life: Shaping Up Your Financial Future - Grades 6-8 - Teacher Guide
Checking accounts offer a menu of features along with a menu of costs. In this lesson, the students learn the fundamentals of maintaining a checking account by examining electronic banking methods, check writing, and entries in a check register. The students examine the features and costs of a checking account to prepare them for the time when they acquire checking accounts of their own.
Grade(s): 6-8
Concepts: Credit union, Savings and loan, Checking account, ATM card, Debit card, Checkbook register, Savings

Theme 4: Lesson 12 - Cash or Credit?
Financial Fitness for Life: Shaping Up Your Financial Future - Grades 6-8 - Teacher Guide
Most students are aware of the variety of spending options available to consumers. Cash, checks, debit cards, and credit cards are often used by their parents; however, the students probably do not understand the implications of each. This lesson examines the advantages and disadvantages of various payment methods and focuses especially on credit usage. The students are challenged to calculate ...
Grade(s): 6-8
Concepts: Interest, Interest rate, Credit, Opportunity cost, Inflation

Lesson 23 - Investing Involves Decision Making
Learning, Earning and Investing: High School
This lesson provides an overall review and an opportunity for students to apply many of the concepts stressed in earlier lessons. The students examine different sorts of risk that come with investments. They are introduced to a fivestep decision-making model. After practicing with it, they apply the model in a simulation activity in which they act as financial advisors, offering financial advice i...
Grade(s): 6-8, 9-12
Concepts: Bonds, Capital gain, Certificate of deposit, Dividend, Diversification, Liquidity, Money market account, Mutual funds, Principal, Rate of return, Risk, Savings account, Stocks

Lesson 12 - Building Wealth over the Long Term
Learning, Earning and Investing: High School
The students are introduced to the case of Charlayne, a woman who becomes, accidentally, a millionaire. Charlayne's success, the students learn, was unexpected, but not a miracle. It can be explained by three widely understood rules for building wealth over the long term: saving early, buying and holding, and diversifying. The lesson uses Charlayne's decisions to illustrate each of these rules. It...
Grade(s): 6-8, 9-12
Concepts: Compound interest, Diversification, Forms of saving and investing, Reward, Risk

Lesson 21 - Lessons from History: Stock Market Crashes
Learning, Earning and Investing: High School
The students analyze information about the stock market crash of 1929 and the stock market crash of 1987. They use the information to make posters about the crashes, highlighting what happened during and after the crashes, causes of the crashes and the role of the Federal Reserve in each crash. After presenting their posters to the class, the students discuss similarities and differences between t...
Grade(s): 6-8, 9-12
Concepts: Causes and effects of the stock market crash of 1929, Causes and effects of the stock market crash of 1987, Federal Reserve, Monetary policy, Supply and demand

Lesson 6 - What Is a Bond?
Learning, Earning and Investing: High School
In this lesson the students learn what bonds are and how bonds work. They learn the basic terminology related to bonds and participate in a simulation activity aimed at showing that bonds are certificates of indebtedness, similar to an IOU note. Finally, the students explore credit ratings and calculate average coupon rates for various bond ratings in order to determine the relationship between ra...
Grade(s): 6-8, 9-12
Concepts: Bond, Bond rating, Coupon, Coupon bond, Coupon rate, Default, Face value, Maturity date, Par value, Risk, Zero-coupon bond

Lesson 2: Characteristics of Countries
The International News Journal, Inc.
The primary purpose of this lesson is to help students identify resources around the world. Students examine a world political map and complete a Mystery Almanac activity sheet. They read several clues, sets of facts about selected countries, and then identify each country. The students then complete an information Resource Chart summarizing the information presented in the activity sheets.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Labor resources, National resources, Products, Resources, Services, Wants

Lesson 3: Similarities and Differences Around The World
The International News Journal, Inc.
In this lesson students analyze the information on eight selected countries presented in Lesson 2 and discuss the similarities and differences among the countries.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Natural resources, goods, resources, Wants

Chapter 3: Lesson 17 - How the People of Churchill Came to Be Fond of Polar Bears
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Incentives, Profit

Chapter 3: Lesson 15 - Mariah Visits a Petting Zoo
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Profit

Chapter 3: Lesson 16 - The Big Piggy Bank Mystery
The Great Economic Mysteries Book: A Guide to Teaching Economic Reasoning, Grades 4-8
Students describe an economic mystery and discuss various explanations of it. They use economic principles and true/false clues in reasoning out a solution to the mystery.
Grade(s): 3-5, 6-8
Concepts: Profit, Saving and Investing

Lesson 4: Trading Partnerships Around The World
The International News Journal, Inc.
In this lesson students use information from Lesson 3 to analyze trading relationships among the eight countries being studied. The class discusses trade, then the imports and exports of the eight countries.
Grade(s): 3-5, 6-8
Concepts: Exports, Imports, International marketplace, Trade

Lesson 1: The Development of the International News Journal, Inc.
The International News Journal, Inc.
This lesson provides a general overview of the activities in The International News Journal, Inc. The students read a cartoon story which summarizes the program. The cartoon story is in five parts representing the actual parts of the program and the activities in which students will participate.
Grade(s): 3-5, 6-8
Concepts: Choice, Corporation, International, Production, Marketplace, Resources, Trade, Wants

Lesson 6: Individuals Benefit From Trade
The International News Journal, Inc.
In this lesson expand their concept of trade through a trading experience. Students bring an item from home to trade for something they want more. A classroom trading activity allows trade agreements to be made and economic wealth to be created.
Grade(s): 3-5, 6-8
Concepts: Trade, Wealth

Lesson 14: Organizing The Corporation
The International News Journal, Inc.
In this lesson students (entrepreneurs) decide who the officers of the corporation will be and who will be invited to bo on the board of directors.
Grade(s): 3-5, 6-8
Concepts: Corporation, Entrepreneur

Lesson 13: Business Ownership
The International News Journal, Inc.
In this lesson students learn about three types of business ownership -- sole proprietorship, partnership, and corporation -- with the focus on corporations. An activity sheet checks their understanding of th purpose and organization of a corporation.
Grade(s): 3-5, 6-8
Concepts: Capital resources, Corporation, Dividend, Entrepreneur, Natural resources, Human resources, Partnership, Profit, Sole proprietorship, Stockholders

Lesson 15: Board of Directors and Corporate Officers
The International News Journal, Inc.
In this lesson the board of directors meets with the corporate officers to help make production decisions. The board also helps the officers choose the kind of news journal, estimate the cost of producton, determine the price and quantity of news journals to produce, and decide on the number and price of share of stock. Students observe and learn from the decision making, complete and activity s...
Grade(s): 3-5, 6-8
Concepts: Demand, Market, Price, Profit, Stock, Supply

Lesson 16: Selling Stock
The International News Journal, Inc.
Students review the concept of stock issued by a corporation and learn how to be good salespeople by role playing a sales speech. They discuss the steps for selling stock.
Grade(s): 3-5, 6-8
Concepts: Corporaton, Dividend, Stock

ONLINE LESSONS:

online Climbing the Savings Mountain
Students discover how saving money can be compared to a mountain climb. The climb can be fast or slow, safe or hazardous, scenic or thrilling. You will find out that there is more than one way to get to the top!
Grade(s): 6-8
Concepts: Banking,Inflation,Interest Rate,Borrower,Deflation,Interest,Savings,Savers

online Calculating Simple Interest
How do banks calculate the amount of interest paid on a loan? In this lesson, students will view a Livescribe Pencast to learn how to find the dollar amount in interest that is due at maturity. This lesson uses different time periods such as days, months, and years in the calculation as well as varying interest rates.
Grade(s): 6-8, 9-12
Concepts: Interest Rate,Interest,Principal,Simple Interest

online Getting and Using a Credit Card
Students will read the "Credit Counselor" guide to learn about the costs and benefits of credit cards; the C's of credit; credit history; credit application evaluation; and become familiar with some useful formulas. They will need to complete the reading in order to make the best choice from a series of credit profiles and to answer a series of questions during the simulation.
Grade(s): 6-8, 9-12
Concepts: Credit, Interest rate

online Establishing Credit
Using two Better Money Habits videos, this lesson increases student understanding of the importance of building and maintaining good credit.
Grade(s): 6-8
Concepts: Interest Rate,Bank,Bank Account,Collateral,Credit History,Credit Limit,Credit Rating

online Debit Cards vs Credit Cards
Using a Better Money Habits video, this lesson introduces students to the advantages and disadvantages of using debit cards and credit cards.
Grade(s): 6-8
Concepts: Benefit,Costs,Interest,Credit Card,Credit Rating,Debit Card,Fraud,Late Fee

online Trish and Scott's Big Adventure: An Investigation of Regional Housing Costs
This lesson has students explore differences in regional housing costs, determine the percentage of gross income spent on housing, assess the impact of housing costs on a relocation decision and recognize wages and housing costs are prices.
Grade(s): 6-8, 9-12
Concepts: Cost/Benefit Analysis,Federal Reserve Structure,Housing,Incentive,Income,Mortgage,Price,Federal Reserve

online Q T Pi Fashions - Learning About Credit Card Use
Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
Grade(s): 6-8, 9-12
Concepts: Choice,Consumer Economics,Consumers,Credit,Decision Making,Incentive,Interest Rate,Money Management

online Work, Earnings and Economics: Using 'Lyddie' by Katherine Paterson
To get started, the students will read Lyddie, a novel by Katherine Paterson. The novel is set mainly in Lowell, Massachusetts, in the 1840s. In Lowell the main character, 13-year-old Lyddie Worthen, works six days a week, from dawn until dusk, running weaving looms in a murky dust-and lintfilled factory, trying to save enough money to reunite her family. In reading and discussing this fine nov...
Grade(s): 6-8
Concepts: Budget,Choice,Decision Making,Economic Freedom,Economic Growth,Economic Wants,Human Resources,Incentive,Money Management,Opportunity Cost,Role of Government,Scarcity,Technological Changes,Borrower,Interest,Labor,Labor Union,Market Economy,Money,Resources,Special Interest Group,Standard of Living,Wants,Wage,Regulation,Savings,Savers

online Time Value of Money
Suppose your brother or sister owed you $500. Would you rather have this money repaid to you right away, in one payment, or spread out over a year in four installment payments? Would it make a difference either way?
Grade(s): 6-8, 9-12
Concepts: Interest Rate

online Saving and Investing Blitz
The Saving and Investment Blitz engages the student in a series of timed questions that will test their understanding of saving and investment as well as their ability to perform calculations related to the time value of money.
Grade(s): 6-8, 9-12
Concepts: Saving, Investing, Interest rate

top ^