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Non-counterfeitable: Money cannot be easily duplicated. Governments use many means to thwart counterfeiters: special ink and paper, watermarks, microscopic printing, and magnetic strips.
The Big Picture Money can be almost any thing . There are functions and characteristics of money. Money has three essential functions: it is commonly accepted as the medium of exchange; it has a standard numerical measurement; and it is a store of value. There are many characteristics of money. One important characteristic of money and a key concept of financial literacy is that money is issued by governments in limited quantities to maintain stability of value. Unstable value impacts the purchasing power of money. In the U.S., the institution charged with the responsibility of regulating the money supply is the Federal Reserve Bank. SLIDE 3I Let's Practice: Classybucks Conundrum. Read the instructions aloud and complete as an in-class activity. Let's Practice: Detecting Counterfeit Bills (This is also a fun whole-class activity, but it requires students to bring a post-1996 $5 bill to class. This activity can also be done using a document camera with PRODUCT PREVIEW a zoom feature. However, students will not be able to assess the feel of the bill.) Exploring 21st Century Skills and Issues: Careers in Cybersecurity Ponder and Predict Money can be represented (“expressed”) by just about any thing. Many things have been used as money and, like civilization, money has evolved over time. How? Write your prediction here and in the next lesson, find out if you are right! Assign • Blog, debate, discuss: Have you ever made a particularly good (or bad) barter? Did your good (or bad) negotiating skills impact the outcome? Tell about your best or worst barter experience. SLIDE 3J Let’s Practice! The practice activities for this lesson are:
• To prepare for the next lesson: read Chapter 4 of the student workbook. • Watch business or financial news at least 15 minutes per day: Bloomberg West (www.bloomberg.com/video/bloomberg-west)
The Street Business News (www.thestreet.com) Reuters (www.reuters.com/video/technology) • Each week compare and contrast tweets from students' selected financial journalists. Compare journalists' opinions about events and stories.
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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