Lesson 1. What is money, and why does it lose value?
Goal: Students can explain what inflation is and work out what it does to savings.
- 10 minDo the trial lesson together. Discuss the question most students got wrong.
- 10 minRead the page on inflation together. What does a sandwich cost now, and what did it cost when you were ten?
- 20 minIn pairs, use the calculator: 1,000 in savings, 10 years, first 2 percent and then 5 percent inflation.
- 10 minWrap up: who loses most when inflation is high, and why?
You use: Trial lesson (bitfox.online/en/learn/)Inflation (bitfox.online/en/glossary/inflation/)Inflation calculator (bitfox.online/en/tools/)
Homework: Explain inflation in three sentences to a younger brother or sister. Use your own worked example.