The euro

October 4, 2000
Web posted at: 2:56 PM EDT (1856 GMT)

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Objectives:
The students will be able to:

• Collect and analyze data about the euro to make predictions.
• Write equations about converting the euro into other currencies. Standards BOCES Educational Standards VI Probability and Statistics, grades 9-12
• High school students should be able to construct and draw inferences from charts, tables, and graphs that summarize data from real-world situations, using technology whenever appropriate.

Materials: CNNfyi.com article
Internet access
Graph paper, colored pencils

Suggested time:
1 class period

Procedure:

1. Ask your students to brainstorm merits and disadvantages of countries having the same or different currencies. Ask why they think the European countries decided to have one type of currency.

2. Assign the CNNfyi.com article. Then ask:

• What significant financial event took place on January 1, 1999? Why do you think it is important to have one type of currency among the numerous countries?
• What has happened to the value of the euro since it began? How does having one type of currency affect commerce? Why do you think countries will have a period of time to accept both type of currencies until converting to only the euro?
• What happened to the euro legislation in Denmark? What effect do you think this had on the euro? What do you think will happen with the euro?

3. Pair students. Have each team compare the value of the euro against the value of the United States dollar (USD) for every even month since January, 1999. On the same graph, have students compare the value of the euro against the Japanese yen. Have students create a double line graph to illustrate this information.

• How many euros would you receive in January 1999, for 50.00 USD? How many euros would you receive in July 2000, for 50.00 USD? Is there a difference? Explain your answer.

Assessment:
Have students create a different currency unit to be used in the United States. Direct students to design and name their currency. Students must include the exchange rate against the USD, the euro and the yen. Also have students include a brief essay explaining why the USD should be changed.

Accommodations:
Visual/ Spatial Students can design the physical look of a new currency unit. Students must give the new currency a name and decide what coins and/or bills will look like. They need to offer an explanation of their design as well.

Challenge Project:
A two-week euro project can be found at the HighWired.com site listed below.

HighWired.com: Classroom
Information on the New "Euro" Currency
The EURO is here !
The EURO - Europes's New Currency

Note: Pages will open in a new browser window

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