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Money Lesson Plan

Instructor: Dana Dance-Schissel

Dana teaches social sciences at the college level and English and psychology at the high school level. She has master's degrees in applied, clinical and community psychology.

Pack a monetary punch with your instruction on money with the addition of a Study.com video lesson, discussion questions, and a small group activity. Take a step further if you choose with optional extensions and related lessons.

Learning Objectives:

Upon completion of this lesson, students will be able to:

  • explain money and the factors that determine its value
  • compare and contrast currency values in different economies
  • relate the value of money to personal consumption

Length

1 hour

Materials

  • White board or chalk board
  • Dry erase markers or chalk
  • Tablet, computer, or projector to access lesson

Curriculum Standards

  • CCSS.ELA-LITERACY.RH.9-10.9

Compare and contrast treatments of the same topic in several primary and secondary sources.

Instructions

  • Play the first 15 seconds of the Study.com video lesson Money: Definition, Types, Functions & How It's Made and pause at 00:16.
  • Pair the students up; one student will play the role of the farmer and the other the role of the potter.
  • Ask the pairs to come up with a potential solution for the farmer to get the pot he needs.
  • Have the pairs share their solutions with the class as you write them on the board. It is likely that most students will negotiate a trade whereby the farmer provides food for the pot. Ask them if they can come up with any potential problems with this arrangement and write those on the board as well.
  • Now resume the video, pausing at 00:52.
  • Ask the students to take turns naming things they use money for.
  • Resume the video lesson and pause again at 2:42. Ask the students to raise their hands if they personally own any gold or silver. Now ask them to brainstorm different scenarios in their lives when this gold and silver could be used as money.
  • Now play the remainder of the video lesson for the class.
  • Finally, ask students to work in small groups to compare the value of the US dollar to the currency of another country, responding to the following questions:
    • How much would it cost for me to buy a song online using this country's currency?
    • How about a fast food value meal?
    • How does this compare to the US?

Discussion Questions

  • Where does the value of money come from?
  • What happens to the money we deposit in banks?
  • Why is money more valuable in some places than others?

Extensions

  • Have students research the minimum wage for three different states in America. How does this compare to the minimum wage in their state? How would their personal income and regular purchases be impacted if they lived in one of these states?
  • Ask students to think about the concept of supply and demand that was mentioned in the video lesson. How does this apply to their lives in terms of the price they pay for popular items?

Related Lessons

Types of Financial Assets: Money, Stocks & Bonds

Present and Future Value: Calculating the Time Value of Money

The Money Market, Supply & Demand

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