Students learn about the money supply and that it can affect the value of money. Students investigate this in the 1896 presidential election (Bryan vs. McKinley, Free Silver vs. Gold Standard) and examine a political cartoon that depicts how some people felt about this issue. Students answer questions about what they would do with more money and what might happen if the money supply increases.
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.)
Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
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