This lesson provides an overview of the basics of buying a home for the first time. Your students may make this decision sooner than they think. Although buying a home is the largest financial decision most people make, two-thirds of American adults do buy a home. In this lesson, students examine programs that make first-time home-buying more affordable. Then they examine over time several economic factors that influence the number of homes purchased. Finally, students use a mortgage calculator to find out how the size of the down payment, length of the loan, and interest rate affect the cost of the loan.
This lesson complements an NPR Marketplace segment exploring the effects of the rising costs of insurance for high-profile art exhibits since September 11.
Each student will buy (hypothetically) a car that will need to be financed. The student will need to look at different options and decide which will be the best choice for his situation. The student will need to find an advertisement for a car that he would like to purchase. Each student will hand in a report that details his findings.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
This publication contains complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
12 out of 45 lessons from this publication relate to this EconEdLink lesson.
Created specifically for high school mathematics teachers, this publication shows how mathematics concepts and knowledge can be used to develop economic and personal financial understandings.
8 out of 15 lessons from this publication relate to this EconEdLink lesson.
This publication contains lessons for teaching personal finance concepts to 9-12 students. Lessons for older students illustrate certain uses of more abstract representations.
8 out of 24 lessons from this publication relate to this EconEdLink lesson.