Students learn how currency values are set by supply and demand, and how changes in the value of currency affect international trade. Students then find the value of the Brazilian Real in 2000 and 2002, determine whether the currency has appreciated or depreciated, and predict the effects on imports and exports.
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.)
This lesson examines the benefits and opportunity cost of spending and saving. The students learn how compound interest makes savings grow. Compounding provides an incentive to save and invest early. The benefits of saving and investing when you are young can increase substantially over time when funds are allowed to compound.
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This publication contains 12 lessons to help you integrate globalization concepts into your Social Studies, Economics, or Global Studies course.
5 out of 16 lessons from this publication relate to this EconEdLink lesson.
Economics in Action combines 14 favorite CEE simulations, role-playing activities, group activities and classroom demonstrations in one volume.
4 out of 14 lessons from this publication relate to this EconEdLink lesson.
The study of international economic systems teaches about global production and competition, exchange rates, international finance, free trade vs. protectionism and economic development.
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