1. ECONOMICS: November 10
Warm-up: to buy a product, is bartering or using money easier? Why? Economics Learning Target #1 In order to understand how money has evolved over time to meet the needs of people everywhere, I will analyze the different types, characteristics, and func- tions of money. I will know I have it when I can: (1) differentiate between the use of bartering, com- modity money, and fiat money; (2) explain the three functions of money; and (3) explain the four charact- eristics of money. Money and Banking (HO)
--basic history and vocabulary; functions of money; characteristics of modern money Economics Learning Target #2 In order to understand the features of modern banking, I will analyze the shift of the valuing of U.S. currency based on a gold standard to the use of fiat money controlled by the Federal Reserve. I will know I have it when I can explain the advantages and disadvantages of a gold standard. --supporters: prevents unbridled money growth thus stabilizing dollar value --opponents: the Fed loses the flexibility to stabilize the economy What is the Gold Standard? (through 4:07); Fiat Money Explained (2:10) Assignment: --read Ch. 16, Lesson 1