Grade Level: 5, 6, 7, 8, 9

Subject(s):

• Social Studies/Economics
• Mathematics/Applied Math
• Computer Science

Duration: Three to four 50-minute sessions

Description: In this activity, students use a spreadsheet to convert foreign currency into US dollars and vice versa. Students should have prior knowledge of Microsoft Word and Microsoft Excel (how to enter data and formulas into cells).

Goals: Tennessee Curriculum Framework Standards

Economics:

1. Standard 1: Students will gain an understanding of fundamental economic concepts and their application to a variety of economic systems.
2. Standard 3: Students will gain an understanding of the potential costs and benefits of individual economic choices in a market economy (Microeconomics).
3. Standard 4: Students will gain an understanding of the roles and interactions of individuals, businesses, and the government in a market economy (Macroeconomics).

1. Standard 5: The student will use a variety of technologies to improve classroom learning, increase productivity, and support creativity.
2. Standard 6: The student will use technology as a tool to conduct and evaluate research and to communicate effectively information and ideas.
3. Standard 7: The student will use technology resources to develop problem solving strategies, improve decision-making, and support real world applications.

1. Students will understand currency or type of money exchange.
2. Students will convert US dollars into foreign currency.
3. Students will convert foreign currency into US dollars.
4. Using Microsoft Word, students will be able to create a chart of items to be converted from US dollars into a foreign currency and vice versa.
5. Using Microsoft Excel, students will be able to create a spreadsheet to calculate the exchange of foreign currency into US dollars and vice versa.

• computers with access to the Internet, Microsoft Word, and Microsoft Excel
• Conversion Chart ( Click on the link to download the Excel spreadsheet to your computer.)
• Conversion Worksheet
• Conversion Worksheet Answer Key
• Rubric

Worksheet, Answer Key, and Rubric are in .pdf format; requires free Adobe Acrobat Reader.

Click the icon to obtain the free Reader.

[Students will be working in pairs. Give each student a copy of the conversion worksheet. At their computers, each pair of students needs to bring up the conversion chart (Excel spreadsheet) on their screens. Students need to find the exchange for each of the items listed on the conversion worksheet. For instance, the first item is a "boom box" with a price of $79.95 in US dollars. In the spreadsheet, students enter 79.95 under the column, "US Amt." When students press the enter key, the corresponding value in British pounds will appear under the column of "Value in Foreign." For the second item, (a pair of boots), students enter 1707.17 (Mexican pesos) under the column of "Foreign Amt." When students press the enter key, the corresponding value in US dollars will appear under the column of "Value in US." Students should enter the missing amounts on their conversion worksheets.]

Activity #2:
" You have just received word, from your boss, that he has extended your buying trip another month to visit ten more countries. You are to choose the items to be purchased and, using Microsoft Word, create a purchasing data sheet similar to the previous one. Use the following web site for information about currency rates: http://www.xe.net/currency. You and a partner are to create a purchasing data sheet to exchange with another group. Include an answer key."

Activity #3:
" Now that you have your purchasing data sheets completed, create a spreadsheet using the information about currency exchange from the web sites listed." [Students can use the conversion chart Excel file as a template for their spreadsheets. Students may need to be reminded of how to edit formulas in a spreadsheet.]

Lesson Extensions:
All three activities can be done in any order and support each other. A store could be set up to reinforce the concept of currency exchange. Extensions could include creating an itinerary for the trip and calculating miles, cost, etc. A map could be used to plot the cities visited. Background research could be done on any of the cities, including economic and sociological information about the growth of the city.

Assessment: Use the rubric to evaluate students' outcomes for each activity.

Useful Internet Resources:
* Economics by Louise Jaskoski (online version of the lesson plan)
http://volweb.utk.edu/Schools/sullivan/colonial/Economics.htm

* The Universal Currency Converter
http://www.xe.net/currency

* Tennessee Curriculum Framework
http://www.state.tn.us/education/ci/cicurframwkmain.htm