This guide takes users through 10 step-by-step activities on FRED®, the free online economic database of the Federal Reserve Bank of St. Louis, to show how quickly and easily it is to find and graph economic data and save and share them as a custom graph. The FRED database includes more than 390,000 economic data time series from dozens of national, international, public, and private sources. FRED allows users to combine and display data with an easy-to-master mix of tools. With just a few minutes of practice, anyone can use FRED to tell a story using data. The dataset used for these activities is real gross domestic product (GDP).
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In this lesson, students participate in a puzzle activity to identify leadership characteristics that Abraham Lincoln possessed. They review the changes in the $5 note and consider how Lincoln's leadership characteristics contribute to the fact that he is pictured on the $5 note. Students look at a timeline of Lincoln's life and identify significant events in his road to the White House. They will then play a game to review content learned in the lesson.
In this lesson, students work in groups to examine excerpts from primary source documents. They identify social and economic factors affecting specific categories of people when the Great Migration accelerated in 1916 to 1917: black migrant workers from the South, southern planters, southern small-farm farmers, northern industrialists, agents, and white immigrant workers in the North. Each student group creates a "perspectives page" to post for a gallery walk where students analyze the causes of the Great Migration and the changes it brought to both the North and South. Students also discuss the specific economic factors that influenced the Great Migration: scarcity, supply, demand, surplus, shortage, and opportunity cost. Using the PACED decisionmaking model, they analyze the alternatives and criteria of potential migrants.
In this activity, students decide which of their two favorite things they want to buy from their list in Activity 2. This activity is the companion to the Lesson 2: My Favorite Things. Activity is found on pages 14-17 of the pdf.
These questions can be used to discuss the following economic concepts in the book Alexander, Who Used to Be Rich Last Sunday: opportunity cost, saving, savings goal, and spending.
Students complete an activity sheet and discuss the advantages and disadvantages of
using credit. Students read a scenario about a young person’s use of a credit card and
answer some questions regarding repayment. Students learn about credit history, credit
reports and credit-reporting agencies.
Students discuss key terms related to credit and learn how creditors use capacity,
character and collateral as criteria for making loans. Students learn about credit rights
and responsibilities. Groups use role-play scenarios in order to identify and discuss the
rights and responsibilities of using credit
Students will learn what a payday loan is and the high cost involved in using such a loan.
Working in groups, students will calculate an annual percentage rate (APR) on a loan.
This online activity shows how to use FRED, the Federal Reserve's free online economic data website, to analyze changes in real gross domestic product (GDP) and GDP makeup over time. Following simple instructions, students will locate spending data for the individual components of real GDP, and then combine them into a highly informative area graph. They will also use FRED's ability to stack data and see how trade imports and exports contributes to GDP. The resulting customized graph will let them see how economic output varies from year to year.
In this lesson, students use primary documents to review historical trends in women’s share of the labor force and chosen occupations. Using Barbie careers as a time line, they speculate as to why Barbie represented certain careers for girls at different points in time since 1959. They choose which career Barbie might represent next year and explain that choice in a one-page essay.
In this lesson, students listen to a story and answer questions about a family in Central or South America that barters to get the ingredients for chicken sancocho, a kind of stew. Students participate in trading activities that illustrate money's advantages over barter.
In this lesson, students listen to a story and answer questions about lending in Bangladesh. They complete a diagram that shows the impact of lending on a community. Working as a class, they compare the similarities and differences between banks lending in the United States and the Grameen Bank lending in Bangladesh. Students work with a partner to estimate profits based on Sufiya's prices and costs in the book.
In this lesson, students read and analyze an essay focusing primarily on one aspect of Ben Franklin's life - his work as a printer - and how he was an inventor and entrepeneur who also promoted the use of currency in the United States. Students will cite specific textual evidence regarding problems and solutions and will answer questions and complete a timeline. Then, using evidence and information gleaned from the text, students will write a fictious social media post defending the selection of Ben Franklin's portrait for the $100 note.
In this lesson, students hear a story about Brother and Sister Bear, who seem to want everything. The little cubs learn that they must make choices because they cannot have everything they want. Students follow along with the story by completing an activity listing all of the goods that will satisfy the cubs' wants. The students then take part in an activity to construct a word web and graphic organizer (table) to identify goods that will satisfy a want. Students will make a choice, identify the problem of scarcity, and recognize their opportunity cost.
In this lesson, students learn about wants, choice, and scarcity. They listen to the story Betty Bunny Wants Everything and identify all the wants that Betty Bunny has at the toy store. Students learn that because of scarcity, they must make choices. They practice making choices by selecting a treat they want, a toy for one of the book characters, and finally a school item. They sing a song about choices and scarcity.
In this lesson, students first listen to the story Bunny Money. They then work in pairs to add sets of three single-digit numbers to determine the value of their savings goals and total savings. They compare the values to determine whether they have saved enough to meet their savings goals. Finally, students calculate the difference between the value of their savings goals and total savings.
This is the second lesson in five in a Unit on Personal Financial Literacy. In this lesson, students learn about credit card usage and credit card consumer protection laws through class discussion, computing the cost of credit, debating real-world scenarios, and conduct a credit-card usage survey as an out-of-class activity.
This is the third lesson of five in a Unit on Personal Financial Literacy. In this lesson, students work in pairs to balance a bank account statement and calculate the costs of using a debit card irresponsibly. The students then conduct a survey as an out-of-class activity, collecting and interpreting data on debit card usage in their area. The students analyze the advantages and disadvantages of using credit cards and debit cards.