Subject: ECONOMICS Teacher: RAFAEL COBOS QUESADA
Title of the Unit FOREIGN EXCHANGE MARKET Course / Level 1st year Bachillerato
My didactic unit is about the foreign exchange market. Students have to learn to convert currencies using exchange rates. Some students have never changed euros because they never went out of the euro-zone.We will use the market to learn how the moves of the supply and demand of currencies will change the price (exchange rate). Moreover, we will also see the importance of a different way of making comparissons, the purchasing power parity. In addition, we will calculate the Big Mac index.
The 6 sessions planned are as follow (all the materials can be found in the didactic unit link):
Cartoon chosen to know what students already know about currencies.
We go to the Apple store on-line in NY to buy an i-phone. How many euros do I need to pay 299$? The price in Spain is 799€.
Firstly, we use the calculator and the pen to calculate. Lastly, we use the link to a web page to do the same task easly. Besides, we learn the name of different currencies all over the world.
We read the slide number 1.
We read the next 4 slides.
We use the blackboard to draw the exchange market.
Shifts and moves of the supply and demand due to trade, inflation and investments. Different situations provided.
Changes in the exchange rate because of the moves.
Crossword to enforce scaffolding: vocabulary learned. Educaplay.
Flashcard 1: exchange rate.
We read slides 6, 7 and 11: PPP.
Article about China´s GDP and GDP based upon PPP.
BBC Podcast: exchange rate vs PPP.
Slide 12. Exchange rate systems. Moves of the supply and demand curves.
Flashcard 2:exchange rate systems.
Super size me video (5 minutes)
We read slides 8,9 and 10
Webquest Big Mac index.
The link to the didactic unit at:
Rafael Cobos Quesada