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Lessons & Activities
16-30 min
Teaching About Money, Spending, & Inflation Using an Auction
OVERVIEW
Students participate in two auctions: The goods in each auction are identical, but the amount of money given to students increases from the first to the second auction. Students learn that if spending grows at a faster rate than the economy's ability to produce goods and services, inflation will result. This inflation is caused by "too much spending chasing too few goods."
Related Resources
INFOGRAPHICS & COMICS
VIDEO Q&A
0-15 MIN
Inflation
Introduce the concept of inflation.
READING Q&A
16-30 MIN
Beyond Inflation Numbers: Shrinkflation and Skimpflation
Define shrinkflation and skimpflation.
LESSONS & ACTIVITIES
31-45 MIN
Inflation and the Fall of the Roman Empire
Learn the concepts of money and inflation in the context of world history.
LESSONS & ACTIVITIES
46-60 MIN
The Economic Goal of Price Stability
Simulate a consumer's experience when dealing with unstable prices.
LESSONS & ACTIVITIES
46-60 MIN
Market Basket
Interpret the effects of inflation on consumers.
