This Episode 9: Inflation video also includes:
Imagine a hamburger costing only 15 cents! Scholars analyze the impact inflation has on the economy over time and investigate what makes prices rise in the market. They view a short video while researching the Consumer Price Index to accurately determine how the cost of living increases coincide with a rise in income. The 15 cent hamburger in 1964 doesn't feel all that cheap when realizing minimum wage was only $1.25!
- Demonstrate inflation to the class by bringing in a balloon with a $ sign on it; inflate it to show prices rising
- Extend the lesson by using the current CPI from the Bureau of Labor Statistics web page
- Lesson is designed for grades 8-12 and beyond
- Fits as the ninth installment in a 10-part Economic Lowdown video series
- Lesson differentiates instruction with video and podcast format
- Resource provides written transcript of video for teacher planning