With the start of the new year in 2002, the 12 members of the European Union launched a single currency across their borders, replacing individual country currencies and singling out the Euro as their one shared monetary denomination. Marketplace, a daily economics news program heard on National Public Radio, featured a story on January 2, 2002 about the currency change of the landmark event. (This lesson should be used as an introduction to this topic. There is another Economics Minute The Euro Makes its Debut that would be a good follow-up to this lesson.)
Students will take a surprise trip around the world. As they travel, they will use clues to discover where they are going. They will then figure out how much money they have spent in U.S. dollars, using exchange rates.
Carlos is a senior at local high school. When he graduates, he plans to study computer animation. He has applied to a number of two- year programs, and recently, he received letters of acceptance from four schools, one in the United States and three abroad. Carlos has funding from several sources, providing him with a $5,000 scholarship to be used at the school of his choice, a student loan of $5,000, and $6,000 of personal savings. Your job is to evaluate the options that will allow Carlos to complete a 2-year computer animation program, given the $16,000 of funding. The real issue for Carlos to consider is what he can afford. Listed below are the four schools to which Carlos has been accepted, including the package of options and expenses for each.
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