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TIME TO TEACH These lessons can be taught in about one hour. Consider segmenting into shorter sessions over several days, and including recommended videos and additional resources in instruction. LESSON TITLE SLIDE Instructional slides corresponding to the lesson segment and additional teaching aids can be accessed at www.c21student.com WORKBOOK References the corresponding chapter in The 21st Century Student's Guide to Financial Literacy (the “workbook”) MATERIALS LIST Lists materials and information needed to prepare the lesson. For short informative videos about lesson strategies go to www.c21student.com SUGGESTED VIDEOS & ADDITIONAL RESOURCES Identifies supplemental videos and resources. indicates that the video or resource is highly recommended. Videos can be accessed at www.c21student.com WHAT DOES THAT MEAN? Each lesson begins with a term/vocabulary segment introducing students to the terms used in the lesson. Slides and vocabulary flashcards can be accessed at www.c21student.com
L E S S O N 3 Show Me the Medium of Exchange
Time toTeach
SLIDE 3A
Workbook This lesson corresponds to The 21st Century Student's Guide to Financial Literacy, student workbook, Chapter 3.
Materials List Computer/smartboard Webslides (www.c21student.com)
Suggested Videos and Additional Resources Watchmojo.com, 10 Cybersecurity Facts (YoutTube) (8:52) • Cybersecurity 101 (Nova/YouTube) (3:52) • The Secret Lives of Hackers (Nova/YouTube); National Geographic (3:08) For an interesting good graphic presentation of hacking data see World’s Biggest Data Breaches (www.informationisbeautiful.net) Note: Cybersecurity is an evolving field. It’s a good idea to periodically update these supplemental videos.
unit of account PRODUCT PREVIEW store of value purchasing power wealth Lesson 3 | ShowMe theMediumofExchange 36 What Does That Mean? Term Definition economist commodity any marketable item.
SLIDE 3B-D
an expert in economics which is a social science concerned with the processes and systems by which goods and services are produced, sold, and bought.
currency money in any form when used as a medium of exchange. medium of exchange intermediary instrument used to facilitate the purchase or sale of goods; a function of money. money the agreed medium of exchange for a society.
unit which can be used to define and compare the value of something; a function of money. the ability to be reliably saved, stored, and retrieved over time; a function of money. the amount of goods or services that a unit of money, such as one dollar, can buy.
an abundance of valuable possessions or money; property; riches.
counterfeit currency imitation currency produced without the legal sanction of the state or government. Federal Reserve Bank the Fed; the central bank for the U.S. which manages U.S. currency, money supply, interest rates, and monetary policy. data breach theft or loss or secure digital media often by hack.
Lesson Objectives By the end of this lesson the student will be able to: 1. Describe the advantages of money over barter.
SLIDE 3C
2. State the functions of money. 3. List the characteristics of money 4. Analyze whether a thing used as a medium of exchange is money . 5. Tell about careers in cybersecurity.
Gaining Attention Address students: I have some shocking news. There’s been a revolt at UB Smart School. It’s not the tiny tots. It’s the high school students. Direct students to “Barters a Bust” in Chapter 2 of the workbook. Read aloud.
Barter’s a Bust at U.B. Smart School There’s been a revolt at UB Smart School! An entire class has declared itself to be an independent country. They call their country Classtopia. It operates under a barter system where students trade for needs and wants, such as pencils for paper, markers and highlighters for peer tutoring or homework help, etc. Insiders report serious problems with the Classtopain economy. Recently, a student was in need of math peer-tutor services from a fellow Classtopian. Unfortunately, the needy student had nothing of interest or use to the peer tutor, so he got no help. Sadly, he bombed the quiz. Another student hasn’t turned in homework for several days because she’s out of binder paper. She has nothing to trade – at least nothing that's wanted by the student who has the excess supply of binder paper. Now she has a D in homework. Another student needs a calculator, but he hasn’t been able to save the 35 pencils needed to make the trade. He’s had to count on his fingers and toes. The removal of his shoes and socks during math has caused several evacuations of the classroom.
LESSON OBJECTIVES Identifies the skills students will learn in the lesson.
GAINING ATTENTION Begin with a brief review of the previous lesson, and an informal discussion related to the topic of the lesson.
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Lesson3 | ShowMe theMediumofExchange
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