Agenda 219

1
Agenda (2/19)

• Review
• Functions of money
• Lessons in a Dollar Bill.
• Money Mysteries Counterfeiting
• Money Literature
• Quiz 2 Topics

2
What Makes Money, Money??

• Functions of Money
• MEDIUM OF EXCHANGE
• Taken in trade for any goods or services
• STOCK OF VALUE
• used to assign a numerical VALUE to goods
• STORE OF VALUE
• 5 bill today will be worth 5 tomorrow
• not a perfect measure of value
• WIDELY ACCEPTED
• must be a FIAT system
• Is a debit card money by our definition?

3
Money and Trade

• HOW DOES MONEY MAKE TRADE MORE EFFICIENT?
• BECAUSE IT IS WIDELY ACCEPTED
• ALWAYS A COINCIDENCE OF WANTS!!

4
Lessons in a Dollar Bill

• What can we learn from a dollar bill?
• The Face of Currency
• Who is on the Bill Quiz
• Can you name the person on the front of each bill
  and describe the picture on the back?
• 1, 2, 5, 10, 20, 50, 100?

5

• Bill Portrait Reverse
• 1 Washington (1st US Pres.) Great Seal of US
  (Eagle and Pyramid)
• 2 Jefferson (3rd US Pres.) Signing of Dec.
  of Independence
• 5 Lincoln (16th Pres.) Lincoln Memorial
• 10 Hamilton (Sec. Of Treasury) Treasury
  Building
• 20 Jackson (7th Pres.) White House
• 50 Grant (18th Pres.) US Capitol
• 100 Franklin Independence Hall,
  Philadelphia

6
US Bank Notes

• Bureau of Engraving and Printing

7
What Other Lessons in a Dollar?

• Geography
• Ask students to find the Federal Reserve Seal
• letter indicates a different FED region (12)
• Plot these on a map
• Most common district? Why?
• New State Quarters

8
What Other Lessons in a Dollar?

• History
• Research the individuals on our currency
• Presidential Dollars
• History of US Currency
• San Francisco FED exhibit

9
What Other Lessons in a Dollar?

• Art
• what are common design elements in all currency?
• Portraits, monuments, denominations, etc.
• for Classroom Mini-Economy students can design
  own currency
• examples..

10
Examples of student currency
11
Examples of student currency
12
Online resources

• United States Mint
• H.I.P. Pocket Change site
• http//www.usmint.gov/kids/games/makingChange/

13
Money Mysteries Counterfeiting

• Students are very curious about fake money
• Several on-line resources
• http//www.moneyfactory.gov/newmoney/main.cfm/curr
  ency/interactiveNotes
• http//www.pbs.org/wgbh/nova/moolah/anatomy.html

14
Money Literature

• The Story of Money by Betsey Maestro
• Money, Money, Money by Nancy Parker
• Jelly Beans for Sale by Bruce McMillan
• Follow the Money by Loreen Leedy
• The Big Buck Adventure by Gill Tobola

15
Quiz 2 Topics

• Economic Decision-Making
• decision-trees/decision grids
• explain and use
• cost-benefit analysis
• marginal analysis
• What does MB/MC mean? Decision point?
• Maximization?
• problems (e.g., How many shoes to buy.?)

16
Quiz 2Topics (cont.)

• Productivity
• Defined/why important
• factors that increase
• examples (think Less and More Video")
• Exchange and Trade
• why people trade.(comparative/absolute
  advantage)
• coincidence of wants
• problems with barter
• Money
• characteristics of money
• why money is more efficient than barter.