Lesson+Plans



LESSON PLAN 1

**Thematic Unit Theme/Title/Grade Level**: __Economics/ 6th grade .__ = Daily Lesson Plan Days/Title: __Days 1/ Banking.__ =
 * Teacher(s) Name ** : __Ms. Markle, Ms. Coffey and Mrs.Turco__
 * Wiki space address ** : __SSE3312EconomicsUnit.wikispaces.com__

& Procedures || Day 1 A good way to start this lesson is to review the importance of goals. Whether it is goals for academic, personal, or financial achievement, goals provide an end point. It's how to get to the end that confuses the students. Ask students to name two items that they would like to buy. Tell them to pick one item they would like to have soon--within three months--and another item they would like to buy in five years. Ask them to research how much the items cost. Tell them the amount of money they will need to buy these items is part of their financial goals. Tell them that there are steps they can take to reach their financial goals. One of the most important ways to meet a financial goal is to figure out how to save money. Let them go through the lesson to find out the different ways to save money.
 * Learning Objectives || The students will…
 * Analyze ways to save money.
 * Create financial goals.
 * Define the differences between earning no interest, simple interest, and compound interest.
 * Predict the effect of inflation on money that has been saved. ||
 * **NCSS Theme/Sunshine State Standards** || * SS.6.E.3.1: Identify examples of mediums of exchange (currencies) used for trade (barter) for each civilization, and explain why international trade requires a system for a medium of exchange between trading both inside and among various regions.
 * SS.6.E.1.3: Describe the following economic concepts as they relate to early civilization: scarcity, opportunity cost, supply and demand, barter, trade, productive resources (land, labor, capital, and entrepreneurship).
 * VA.68.O.2.4: Select various media and techniques to communicate personal symbols and ideas through the organization of the structural elements of art. ||
 * Teacher Activities, Student Activities,

Allow the students to go to these websites to learn the different aspects of banking: [|http://web.archive.org/web/20071015043457/http://www.orangekids.com/amy/save_st_002.htm] [] Day 2 Read the class the book "If You Made a Million". Briefly explain how this books displays how keeping money in a bank is beneficial. Guest Speaker from TD Bank Review desired items to purchase and costs. Brainstorm as a class options for earning the money needed for purchases. Each students then documents their plan for earning saving and purchasing there desired items in their pony tail book. ||
 * Resources/Materials || **__ Book: __**


 * Schwartz, David M. (1989). //If You Made a Million.// New York: Lothrop, Lee & Shepard Books


 * __ Video __** :
 * []
 * __ Articles/Primary Sources: __**
 * Resources from bank
 * __ Websites: __**
 * [|http://web.archive.org/web/20071015043438/http://www.orangekids.com/amy/save_st_001.htm]


 * __ Pocket Materials __** :
 * 4 Paper Folders with pockets (no prongs), 1 paper folder with pockets and prongs, construction paper, scissors, glue, & colored pencils/crayons/markers.
 * __ Guest Speaker: __**
 * TD Bank Customer Service Representative
 * __ Textbook __** : Houghton Mifflin, Social Studies,

__Children’s Literature__: Parasite Pig by [|__William Sleator__]
||
 * **Assessment** || **__Pre-Assessment:__**
 * [|http://web.archive.org/web/20070811092952/http://www.orangekids.com/amy/save_bb_005.htm]

= Lesson Plan 2 = Teachers Name: Ms. Markle, Ms. Coffey, Mrs. Turco_ __ Thematic Unit Theme/Title/Grade Level: ___Economics/6th Grade __ Wiki space address: __SSE3312EconomicsUnit.wikispaces.com__ = Daily Lesson Plan Day/Title: __Foreign currencies and exchange__ = 1. Explain why citizens or businesses in one country might require the currency of another country. 2. Explain how foreign exchange values are influenced by supply and demand. 3. Explain how an increase (or decrease) in the availability of a currency may cause a decline (or rise) in that currency’s foreign exchange value. || SS.6.E.3.1 Identify examples of mediums of exchange (currencies) used for trade (barter) for each civilization, and explain why international trade requires a system for a medium of exchange between trading both inside and among various regions. MA.6.A.2.2 Interpret and compare ratios and rates. || // Teacher Activities/Student Activities // || Show students the "Using and Understanding MAPS- The Economy of the World". This book is about foreign money. Cover it briefly. Show how other countries money looks and how it is different than ours. Also show the book "From Seashells to Smart Cards" which is about about how money started. Describe briefly how bartering transformed money. 1. Prepare for this lesson by making enough duplicates of Handout Material 1 (Japanese yen) to provide about 12 bills with varying denominations of yen for each student. Cut the currency out of the page so you can distribute the bills separately. Make a few extra yen to be sure you will not run out. You should make about 25 U.S. dollars out of Handout Material 2. The teacher keeps the dollars. 2. Announce that today the class will look at money and the process by which it is exchanged and valued by people in two or more countries. Show students the real foreign money that you have and let them examine it. 3. Have the students read Activity 1. (Don’t have them answer the questions now; they will answer the questions  later, in the Closure activity.) Announce that you are setting up a foreign currency market so that the class can play The Foreign Currency and Exchange Game. Tell them you will sell one real coin from another country as a prize for one U.S. dollar. 4. Tell the students they will act as citizens of Japan. Distribute four or five Japanese yen notes, of various denominations, to each student. Give them the different amounts in random fashion. 5. Announce that the only way they can buy the coins is with one of the U.S. dollars you hold. Also announce that you can sell only five pieces of coins during one session of the currency market. Students will therefore be required to trade their yen for your U.S. dollars before they can buy any of the five coins. 6. Appoint a student to serve as the banker. Pay the banker one coin of foreign currency for the work done during each round. Give the banker the remaining yen and five dollars. Set up the bank at the front of the room. 7. Appoint another student as tally keeper. You will also pay this student one piece of foreign coin per round. Use Visual 1 to record the number of transactions. (Do not add the columns for Rounds 2 and 3 to the tally table until you are ready to begin those rounds.  This procedure prevents the students from anticipating  how many rounds there will be in the activity.) The tally keeper will make a mark in the appropriate space for each price at which you sell an American dollar in each round. 8. Round 1. Announce that the bidding for U.S. dollars will begin. The only acceptable payment is with Japanese yen. To simplify the chart, the minimum price will be 50 yen. Let students bid. Decide at what prices you will sell the U.S. dollars. At first, you will get low bids. Accept a few. Then the bids should start to increase. As each bid is accepted, the bidder should go to the bank and exchange the yen for U.S. dollars. The tally keeper should make a mark on the chart at the appropriate price, in yen, as  each bid is accepted. Continue until the banker announces that you have sold the five U.S. dollars available for this round. Stop the bidding. Allow the owners of U.S. dollars to exchange the dollars for the foreign coins. 9. Round 2. Increase the supply of Japanese yen by distributing another four or five yen to each student. Announce the beginning of Round 2. Have available another set of five U.S. dollars and five pieces of foreign coins. The banker and the tally keeper will perform the same jobs as in the previous round. Repeat the bidding process. When the five U.S. dollars are sold, stop the bidding and allow the owners of the dollars to get their foreign coin. 10. Round 3. Increase the supply of Japanese yen by distributing more yen to each student. Announce the beginning of Round 3. Have available another set of five U.S. dollars and five pieces of foreign coins. The banker and the tally keeper will perform the same jobs as in the previous round. Repeat the bidding process. When the five American dollars are sold, stop the bidding and allow the owners of the dollars to get their foreign coins. 11. Ask the students to focus on Visual 1. A. How many total yen were paid for the five U.S. dollars in Round 1? In Round 2? In Round 3? In other words, what was the price of a U.S. dollar in terms of yen in each round? B. How wide were the price variations of yen per dollar in each round? C. Did the successive rounds establish a price pattern? D. What determined the exchange rate of yen and dollars? (You should steer students toward a supply and demand explanation if it does not occur naturally.) E. How does the pattern of exchange rates illustrate the interaction of supply and demand. (The exchange rate for dollars in terms of yen rose when the increased supply of yen resulted in a higher  yen price for each U.S. dollar.) F. In general, how is the foreign exchange value of a currency set in terms of other currencies? (By the interaction of supply and demand.) G. What factors might cause the exchange rate between two countries to change? (Changes in the supply of or the demand for the currencies.) CLOSURE Refer again to Activity 1. Ask the students to answer the questions: • What are the three functions of money? (Medium of exchange, store of value, measure of value.) • What determines the value of any currency? (Supply and demand.) • What do we call a decrease in value of a currency? An increase? (In a decrease, the currency depreciates; in an increase, it appreciates.) • What do we call the places or means of communication by which currencies are traded and the value of one country’s currency is established in terms of  other currencies? (Foreign exchange markets.) • Assume the United States produces new products that citizens of other countries buy in large quantities. All other things being equal, what will happen to the value of the U.S. dollar in terms of foreign currencies? (It would increase.) • Assume the number of U.S. citizens traveling to foreign countries greatly increases. All other things being equal, what will happen to the value of the U.S. dollar in terms of foreign currencies? (It would decrease.) || Pre-Assessment: Reading the questions in Activity 1 and talking about what they think are the answers before the activity starts.
 * __Informal Assessment:__**
 * Do a quick check on the student's financial goals. Did the students remember to outline ways to get to their goals? Are their figures accurate? ||
 * Exceptionalities || **__ESOL/SLD:__** Allow more time in needed. Pair up students. Set up the computer to speak the lessons on the computer if needed.
 * __Gifted/Talented__**: Allow them to calculate current interest rates on their savings. ||
 * Discussion Notes || Send home parent newsletter about our class studying economics (available on wiki in English and Spanish) ||
 * = Learning Objectives =
 * What will students accomplish / be able to do at the end of this lesson? ** || The student will…
 * ** NCSS Theme/Sunshine State Standards ** || SS.6.E.1.3 Describe the following economic concepts as they relate to early civilization: scarcity, opportunity cost, supply and demand, barter, trade, productive resources (land, labor, capital, entrepreneurship).
 * Student Activities & Procedures
 * == Resources/Materials == || * A transparency of Visual 1
 * Real Japanese and European money
 * Handout Material 1 and 2
 * Activity 1
 * Unit 7, Teacher's Guide. (2005, September 21). IMF Center. Retrieved June 24, 2012, from [|www.imf.org/external/np/exr/center/students/hs/think/lesson7.pdf]
 * Japanese and European money
 * Morris, Scott E. (1993). //Using and Understanding MAPS- The Economy of the World.// Oxon, England: Lovell Johns Limited
 * Giesecke, Ernestine. (2003). //From Seashells to Smart Cards.// Chicago, Illinois: Reed Educational & Professional Publishing. ||
 * ** Assessment ** || // Be sure to include Pre/Post assessment in your lesson plans! //

Post-Assessment: Completing activity 1 by themselves. Activity 1: Simone, a 21-year-old veteran vagabond, peered into her wallet. Next to her passport and train tickets was her money. She pulled out her collection of pounds, rubles, kroner, yen, pesos, and euros. Simone looked up, confused. She tried to remember how she came to possess these currencies. Simone is not alone. The world of foreign currencies often seems confusing. Not only are many of the names unfamiliar, but some travelers also want to know what each is worth in terms of U.S. dollars. Because all of these currencies are money, they all serve the same functions. Money is a medium of exchange, a store of value, and a measure of value. As a medium of exchange, money can be used to purchase goods and services. As a store of value, money can be saved to use in the future. As a measure of value, money allows us to express the price of things. We can say a car costs so many dollars while a DVD player costs many fewer dollars. Now to a basic question. How do we know what a foreign exchange rate is? How much is any currency worth in terms of other currencies? The simple answer is that a currency is worth whatever people are willing to pay for it. This is a case of supply and demand interacting in a market to establish a price for currency. If there is little quantity demanded for the country’s currency, or a great quantity available for foreigners to buy, the money will be worth less on the foreign exchange market. If there is a high quantity demanded or only a small quantity supplied, then it will be worth more on  the foreign exchange market. For example, when Americans increase their purchases of imports, more U.S. dollars are sent abroad or are exchanged for foreign currencies in order to pay for the imported goods. As the supply of dollars to foreigners increases, the dollar tends to be worth less in terms of other currencies. Under such conditions we say the dollar depreciates. The same general analysis holds true for the currencies of other nations. If a currency increases its worth in terms of other currencies, we say it appreciates. Currency values are established (and exchanges of currencies occur) in foreign exchange markets. These markets exist at banks, at the offices of foreign exchange dealers, and other places where one country’s currency or checks can be exchanged for those of another country. But the greatest amount of foreign exchange activity takes place by telephone, electronically, or by other rapid means of communication used by commercial banks, businesses, and others who deal in large amounts of foreign exchange. Foreign exchange values can change every day — most days by small amounts; some days by enough to make a difference to the people or businesses that are converting (exchanging) one currency into another. In the longer run, changes of great magnitude can occur. In the 1990s the value of foreign currencies, in general, fell a great deal against the U.S. dollar. Looking at the situation the other way, the dollar rose a great deal against foreign currencies. In the 21st century, it will be interesting to see if the U.S. dollar remains “strong” relative the other currencies. When the euro was introduced in January 1999, one U.S. dollar could only buy .90 of a euro. By 2002, the U.S. dollar could buy 1.10 euros. Yet, by 2003, the U.S. dollar could only buy .98 euro. Values have continued to change since then. As the euro becomes more popular as a currency, it may reverse this trend and become a currency demanded by more people and businesses. If that happens, we should expect to see the euro’s value trend back to its original value against the U.S. dollar. QUESTIONS FOR DISCUSSION A. What are the three functions of money? 1. 2.  3.  B. The value of any currency is determined by the __of it and the__ _for it. C. When a currency decreases in value, we say it_. When a currency increases in value, we say it ___.__ __ D. What do we call the places or means of communication __ __ by which currencies are traded and the value of __ __ one country’s currency is established in terms of __ __ other currencies? ___ __ E. Assume the United States produces new products __ __ that citizens of other countries buy in large quantities. __ __ All other things being equal, what will happen __ __ to the value of the U.S. dollar in terms of foreign __ __ currencies? ___ __ F. Assume the number of U.S. citizens traveling to __ __ foreign countries greatly increases. All other things __ __ being equal, what will happen to the value of the __ __ U.S. dollar in terms of foreign currencies? _____ After completion the assignment will be discussed. Students should now fully comprehend the value of money and how exchange works. They will complete this essay assignment for homework: Imagine a situation in which there is an increase of thousands of U.S. citizens (tourists, business representatives,  and government officials) who choose to visit Japan. All of these visitors, arriving in the Tokyo airport, buy thousands of Japanese yen to use during their stay in Japan. Assuming that no other changes are taking place with the yen, explain what effect these visitors’ actions will have on the supply of and demand for the U.S. dollar in the U.S.-Japan foreign exchange market, on the supply of and demand for the yen, and on the price of each currency. Acceptable answer: (The supply of U.S. dollars increased when U.S. citizens paid dollars to buy yen. The demand for the U.S. dollar did not change. The demand for the U.S. dollar in this example would  change only if Japanese citizens were attempting to buy U.S.  dollars in greater numbers than before. The demand for yen  increased when the U.S. citizens attempted to purchase yen  with U.S. dollars. The supply of yen did not change. The  exchange value of the yen [the price in U.S. dollars] would rise.  The U.S. dollar would decline in value relative to the yen.) || Gifted/Talented: Gifted/Talented students would be paired with lower functioning students on Activity 1. This will build confidence in the gifted child and help the lower functioning student with extra assistance. ||
 * == Exceptionalities == || ESOL/SLD: I would let ESOL/SLD students do Activity 1 in pairs. I feel that most of the lesson is ESOL/SLD orientated because it is very hands on. I would also let a student with an exceptionality keep track of the bids and/or the banking.
 * == Discussion Notes == || I would send home a newsletter stating that our lesson would be on foreign money and exchange. I would encourage parents to bring in any of their own foreign money and come into class for activity. ||

= Lesson Plan 3 =
 * Teacher(s) Name**: Ms. Coffey, Ms. Markle, and Mrs. Kelly
 * Thematic Unit Theme/Title/Grade Level**: Economics, money, 6th grade
 * Wiki space address**: sse3312economicsunit.wikispaces.com
 * Daily Lesson Plan Days/Title**: Day 3/ music


 * **Learning Objectives** || ** STUDENTS WILL **
 * Describe the history and development of digital music.
 * Evaluate the legality of digital music.
 * Debate the legality of digital music. ||
 * **NCSS Theme/Sunshine State Standards** || SS.6.E.3.2: Categorize products that were traded among civilizations, and give examples of barriers to trade of those products.

SS.6.E.1.1: Identify the factors (new resources, increased productivity, education, technology, slave economy, territorial expansion) that increase economic growth. ||
 * **Student Activities & Procedures** || **INTRODUCTION**

Nineteen year old Shawn Fanning dropped out of college in to create the computer program which now allows millions of users to download music directly from each other's computers. This technology has come to be known as peer-to-peer or P2P software and is now being used internally in a variety of businesses to share various information more efficiently.

In March, 2000 the Recording Industry of America filed suit against Napster for facilitating tributary copyright infringement; meaning it assists its users in pirating, or stealing, legally protected property. U.S. District Judge Marilyn Patel granted an injunction to shut down Napster in July 2000 while the case was being tried. Soon after, the federal appeals judges issued a stay. In October 2000, the 9th circuit court of appeals heard testimony on the case but did not issue a decision. Meanwhile, in September 2000 a federal judge in New York imposed the largest fine ever in a copyright case on MP3.com. Like the Napster case, this case is still under appeal. How many students have made use of MP3 technology to download and trade music online? What are the benefits of sharing, storing and listening to music using this format? What are the drawbacks of sharing, storing and listening to music using this format?

Students will be examining information related to Napster and trying to determine the answer to the central question: Is using an online music site such as Napster trading music with friends or is it piracy - stealing copyrighted music?
 * PROCESS**

Using one the articles provided below have the students write a paper arguing in favor or against the resolution. > www.wired.com/wired/archive/8.10/boies.html > www.stormloader.com/mnd/FIS/napster.html > www.pcworld.com/article/18681/mp3com_finds_some_legal_backing.html > www.thestandard.com/article/0,1902,19241,00.html > @http://news.cnet.com/Transcript-of-the-injunction-against-Napster/2009-1023_3-244045.html?tag=txt > www.theregister.co.uk/2000/09/06/universal_routs_mp3_com/ > http://web.archive.org/web/20041208063506/http://archives.cnn.com/2000/LAW/law.and.technology/10/02/napster.begins/ > @http://archives.cnn.com/2000/TECH/computing/10/02/napster.college/index.html > www.antiessays.com/free-essays/1774.html > www.napster.com/index.html?darwin_ttl=1238426635&darwin=0209A > www.businessweek.com/bwdaily/dnflash/jul2000/nf20000728_903.htm > @http://facstaff.bloomu.edu/jtomlins/debate_formats.htm > http://web.archive.org/web/20041104023017/http://www.infoworld.com/articles/op/xml/01/04/13/010413opethics.html || The students will write a paper on one of the articles provided and agree or disagree with the argument being presented. || Students can work together with a partner, use translations from dictionary, examples, and visual aids. ||
 * "Judgment Day for MP3.com"
 * "Court hears arguments for and against Napster"
 * "College students on downloading frenzy as Napster returns to court"
 * "Is Downloading Music Stealing?"
 * "It's Very Clear Napster is Unlawful" ||
 * **Resources/Materials** || **RESOURCES**
 * David Boies- The Wired Interview: Landmark cases where technology and the law come crashing together are among David Boies' primary passions.
 * Napster- MP3 File Sharing: Arguments for and against file-sharing.
 * U.S. Lawmaker wants to legalize MP3: If U.S. Representative Rick Boucher has his way, services like MP3.com's My.MP3.com will be legally untouchable.
 * BMG Takes Digital-Download Plunge Written by Andrew Morse and Kenneth Li (October 10, 2000): BMG Entertainment has launched its digital download service, offering music by popular artists such as Whitney Houston, Christina Aguilera and Santana for sale through affiliated Web sites.
 * Napster has History on its Side- Kind Of: Judge Marilyn Hall Patel's simple view of Napster rested on the "fact" that the company had been created to facilitate traffic in copyrighted works.
 * Judgment Day for MP3.com: MP3.com had its day in court against the major record labels today, as a U.S. district court justice Rakoff granted a summary judgment on behalf of the labels in their suit filed over MP3.com’s "My.MP3" service.
 * Court Hears Argument For and Against Napster: A federal appeals court in San Francisco heard arguments Monday in a copyright-infringement lawsuit filed by the music industry against popular Internet music-swapping site Napster Inc.
 * College students on downloading frenzy as Napster returns to court: The future of the popular Napster song-swapping service hung in the balance as a panel of federal judges got its hands on the case Monday, prompting some college students to download as many songs as possible.
 * Copyright Infringement and Napster: An articles about how Napster is hurting musicians.
 * Artists Sound Off: Major artists have a lot to say about Napster.
 * It's Very Clear Napster is Unlawful: Howard Weitzman of digital-rights management company Massive Media thinks the file-sharing company got just what it deserved.
 * Lincoln/ Douglas Debate Format: Here is a website that demonstrates different debate formats.
 * Is downloading music stealing? Napster tests our notion of right and wrong. This article covers the discussion of the legality of downloading music on the web.
 * **Assessment** || **__Informal Assessment:__**
 * **Exceptionalities** || **__ESOL/SLD/Gifted:__**

= Lesson plan 4 =


 * Teacher(s) Name**: Ms. Coffey, Ms. Markle, and Mrs. Turco.
 * Thematic Unit Theme/Title/Grade Level**: Economics, money, 6th grade.
 * Wiki space address**: sse3312economicsunit.wikispaces.com.
 * Daily Lesson Plan Days/Title****:** Day 4/ Baseball


 * Learning Objectives || * Find the average salary of a Major League Baseball (MLB) player.
 * Identify MLB revenue sources in addition to ticket sales.
 * Use economic reasoning to discuss the argument that MLB players are overpaid.
 * Describe how MLB team owners are acting in their own self-interest by not selling teams that appear to be losing money. ||
 * **NCSS Theme/Sunshine State Standards** || SS.6.E.3.2: Categorize products that were traded among civilizations, and give examples of barriers to trade of those products.

SS.6.E.1.1: Identify the factors (new resources, increased productivity, education, technology, slave economy, territorial expansion) that increase economic growth. ||
 * Student Activities & Procedures || **INTRODUCTION**

As many baseball fans can tell you, the New York Yankees usually have a great season record, make the playoffs and make a run towards to the World Championship each year. The Yankees' success--as well as the success of other big market, high revenue teams--has led many to question whether smaller market teams can compete in Major League Baseball (MLB). In fact, in 2009, the Yankees had revenues of $441 million, the most of any team in sports--and more than the revenue of four other MLB teams (Florida, San Diego, Pittsburgh, and Washington) combined!

Have students take the pre-quiz to see what they know about MLB players.
 * Pre/Post-test: [|Pre/Post-test]

Then share to the class the Player Salaries and go over any unknown terms.

What about those outrageous player salaries in the Major Leagues? Ten million dollars per year, and more —to play a kids' game. www.econedlink.org/lessons/index.php?lid=146&type=educator)). The owners of businesses (in this case, the owners of baseball teams) buy factors of production //__(__//www.investorwords.com/5566/factors_of_production.html//)// from individuals who own these factors. For example, the owner of Tastee Tacos buys the factor "labor" //__(__//www.econedlink.org/economic-resources/glossary.php?alpha=l//)// from the high school students who assemble the tacos for him/her. The owner also buys the factor "capital" //(//www.econedlink.org/economic-resources/glossary.php?alpha=c//)// when he/she buys the grill used to cook the chicken for the fajitas. Therefore, it is with MLB owners; they buy various factors that go into the product (a MLB baseball game) they sell. MLB players possess a very specialized form of labor (hand-eye coordination, ability to hit a ball 500 feet) that they sell to the owners of their teams. Are these players overpaid for their labor? An economist would say that owners should pay employees close to the value of the employees' contributions to the company. Economists call contribution the "Marginal Revenue Product" of an employee. This describes an employee's contributions to the final good or service (in this case, an MLB baseball game). What is a player's contribution to the 'bottom line' of an MLB franchise? One way to measure this "marginal product" is to examine the increased revenue a player brings to his team. This might be through more team wins or through more excitement generated by having a great player on your team.

Discuss Albert Pulols as an example to show the class: //__(__//@http://mlb.mlb.com/team/player.jsp?player_id=405395//)// Albert Pujols from the St. Louis Cardinals. Many people know that Albert has had a great career in MLB baseball so far with all of the stats he has, all-star teams he has been named to and Most Valuable Player awards that he has won. In 2001, Pujols earned a salary of $200,000. But has he earned his salary from the Cardinals? Let's see.

In 2001, Pujols was in only his second season for the Cardinals. What were the St. Louis Cardinals total team revenues for 2001? //[$110 million]//

What was the Cardinals' franchise value in 2002? //[$123 million]// Pujol's second full season with St. Louis was in 2002.

The St. Louis Cardinals' total team revenues for 2001 were $243 million. What was the Cardinals' franchise value in 2002? //[$271 million]//

How much did Cardinal revenues increase in 2001 over those of 2002? //[$123 - $110 = $13 million]//

How much more was the franchise worth in 2002 versus 2001? //[$271 - $243 = $28 million]//

1. Have student’s research information about any Major league baseball player.

2. Once students find research on a player, have them write down the players name, where and when he was born, what team he plays on, if he won any rewards/honors, his team’s revenues from 2011 to 2012, and the teams franchise value from 2011 to 2012.

3. Students will share their findings with the class by passing the baseball around the class. Only the person with the baseball is allowed to speak.

Has Albert Pujols earned his salary? Certainly he was not the only reason the Cardinals improved their revenues and increased their franchise value from 2001 to 2002, but Pujols accounted for some of this growth. Did he earn his "marginal revenue product?" In fact, Albert probably was paid much less than he has meant to the St. Louis franchise and its owners, making much less than his marginal revenue product. More than $600,000 is not enough! It would be hard to convince some people of this, but that is why a little economics is so helpful here. In fact, by 2004 the Cardinals began to realize the value of Pujols as his salary increased from $900,000 in 2003 to $7,000,000 in 2004, a 777 percent increase in one year! Today (2010), Albert makes over $14 million a year, a 7,000 percent increase from his initial salary of $200,000 in 2001. A question for the students to ponder is, if a baseball team has nine players who make $1 million each, would they be better than a team that has one super player who makes $8.2 million and eight players who make only $100,000? || > [|Pre/Post-test] > Student Worksheet (Excel Version) > Teacher Key (Excel Version) > @http://mlb.mlb.com/news/article.jsp?ymd=20090408&content_id=4170640&vkey=news_mlb&fext=.jsp&c_id=mlb > @http://mlb.mlb.com/mlb/standings/index.jsp?ymd=20091031 > www.forbes.com/2010/04/07/most-valuable-baseball-teams-business-sportsmoney-baseball-valuations-10_land.html > www.investorwords.com/5566/factors_of_production.html > http://mlb.mlb.com/team/player.jsp?player_id=40539 > www.forbes.com/lists/2010/33/baseball-valuations-10_St-Louis-Cardinals_333240.html > www.easycalculation.com/statistics/correlation.php > www.cbssports.com/mlb/salaries/avgsalaries ||
 * CONCLUSION**
 * Resources/Materials || * Pre/Post-test: Use this test to assess the student’s knowledge in the introduction prior to completing the process section of the lesson, as well as in the assessment activity after they have completed the process section of the lesson.
 * Spreadsheet Worksheet: This worksheet is to be completed in Activity 1 of the process section of this lesson. Student and teacher forms are included, as well as a PDF and an Excel file that is formatted to calculate entries.
 * Team Payrolls Decreased Around MLB: This article provides each MLB team's payroll and average per player.
 * 2009 MLB Regular Season Standings: This link has the regular season records for all 30 MLB teams.
 * Forbes: The Business of Baseball: Contains economic information for MLB as well as each for team.
 * Factors of Production: This site has the definition along with related terms and information for factors of production.
 * Albert Pujols Player Page: This site has information about Albert Pujols, and links to the St. Louis Cardinals and individual player pages as well as links to other teams and players.
 * Forbes: St. Louis Cardinals Economic Information Page: This link provides information and charts regarding economic information for the St. Louis Cardinals since 2001.
 * Correlation Co-Efficient Calculator: Use this calculator for the extension activity.
 * MLB Salaries: The average baseball salaries on opening day since 1989, as well as percentage change from each year.
 * **Assessment** || **__Informal Assessment:__**
 * Have students take the same test to see what they learned from the lesson: [|Post-test].
 * For home work, students will take their researched information home and make a poster with everything they learned. Then they are to bring the poster back to school to present to the class. I will then hang the posters up around the classroom. ||
 * Exceptionalities || **__ESOL/SLD/Gifted:__**

Examples, posters, translations. || Lesson Plan 5 = Daily Lesson Plan Days/Title: __Day 5/__ __ Chevy Volt….It’s Electric!!!. __=
 * Teacher(s) Name ** : __Ms. Markle, Ms. Coffey and Mrs. Turco.__
 * Thematic Unit Theme/Title/Grade Level ** : __Economics/6th grade .__
 * Wiki space address ** : __SSE3312EconomicsUnit.wikispaces.com.__

The Toyota Prius and Nissan LEAF are considered by many to be the Volt’s main competition. According to this article, it costs approximately $1.54 to fully charge the Chevy Volt, under half the cost of a gallon of gas. Thus, if you were to never drive more than 35-40 miles a day, then it would cost you no more than $562 a year in electricity, and you would never have to burn gas. This amount of money would buy you 200 gallons of gas, less then half of the amount of gas an average American uses per year (12,000-15,000 miles= 500-625 gallons, approximately). If we look further into it, the LEAF appears to be the best choice for 100 miles and under, as is runs solely on electricity. However, after 100 miles the LEAF has nothing to keep it going, so unless you plan on only using it for traveling within the city or have a short commute, you would have to wait for it to charge to drive any further (which to charge fully would take 16 to 18 hours using a standard outlet, or seven hours if one were to install a 220/240-volt outlet). While the Prius essentially runs on gas and electricity together, the Volt runs solely on electricity until it runs out, then a gas-powered engine kicks in and runs the vehicle from then on, as mentioned above. Examine this excerpt from this article : “… since most people do not drive hundreds of miles a day, the Volt will actually use less gas than the Prius, provided your average daily mileage is up to about 117 miles. That's because to travel this distance in the Volt, you will only need to use the gasoline engine for 77 of those miles. At about 33 miles per gallon -- a low-end estimate for the Volt's fuel economy when its gasoline engine is running -- it would use 2.33 gallons of gas. To travel the same distance, the Prius would use 2.34 gallons.” Now, we will break that information down into a table. || * Vehicle > So, in other words, as long as one plans on driving 117 miles or less a day, the Volt is more efficient for gas-usage. However, most people don’t drive 117 miles a day, as that would be over 42,700 miles a year. Say that we are the lower-end average American and drive 12,000 miles a year as stated above. (*Teacher Note: Complete the rest of the questions in the Process section of this lesson with your students.) > //[12,000 miles/365 days=Approximately 33 miles a day]// > //[0…If 2.34 gallons=117 miles, then that’s 50 miles a gallon (117/2.34), so 33 miles would be approximately .66 gallons (33/50=.66).]// > //[72-33=39/…72 miles]// > //[39 miles @ 2.33x.46 (because 117 miles=2.33 gallons, minus the 33 miles of electricity=84 miles, but we only used 39 gallons which is 46% of the 2.33 used for 84 miles)=1.07 (or less)//…72=50 (1 gallon)+22 miles, so 22/50=.41…thus approximately 1.41 gallons] > [Answers will vary.] > [$40,280-$28,790=$11,490] > [$11,490-$7,500=$3,990] > [0//…33/50=.66x365=240.9 gallons]// > //[240.9 gallonsx$2.81=$676.93 a year]// > //[240.9x$3.81=$917.83 a year]// > //[$917.83-$676.93=$240.90]// > //[.66x$3.81=$2.51]// > //[$2.51-$1.54=.97 cents]// > //[.78x$3.81=$2.97+$1.54=$4.51]// > //[1.44x$3.81=$5.49]// > //[$1.48 in favor of the Volt.]// translogic.aolautos.com/2010/10/31/understanding-chevy-volt-fuel-economy/ www.ehow.com/how_7223912_compare-mile-electric-gasoline_powered-vehicles.html
 * =Learning Objectives = || The students will…
 * Compare four vehicles with one another, and complete a cost/benefit analysis for each vehicle.
 * Interpret charts containing information on the four vehicles in order to answer questions to help complete a cost/benefit analysis.
 * Use data to determine the cost of driving the Volt in comparison with the Prius.
 * Compare the cost of driving their own (or their parent’s) vehicle against the Volt/Prius.
 * Answer questions about the supply, demand, and production of the Chevy Volt. ||
 * **NCSS Theme/Sunshine State Standards ** || * MU.68.H.3.2: Discuss how the absence of music would affect other content areas and contexts.
 * SS.6.E.3.1: Identify examples of mediums of exchange (currencies) used for trade (barter) for each civilization, and explain why international trade requires a system for a medium of exchange between trading both inside and among various regions.
 * PE.6.C.1.15: Choreograph basic dance or gymnastic sequences alone, with a partner, or in a small group. ||
 * Student Activities & Procedures || * We begin by watching the Electric Slide YouTube video. Then asks the students to stand up and do the electric slide as a class.
 * Most people have heard about the production of hybrid cars over the last few years, and more recently the push towards production of efficient electric cars. With the increasing price of oil, the production of these cars and the availability of automobile alternatives are becoming more important. While several models of these new automobiles have experienced varying levels of success in the market, there is one that stands out in its uniqueness to utilize an electric, then gas powered, motor. This vehicle is called the Chevy Volt, and GM is pinning its hopes on the success of this car. The Volt has already been named the 2011 Car of the Year by the North American International Auto Show, but does it have what it takes to be competitive in the automobile market against other vehicles that are gas powered, hybrid, or electric powered? This lesson will allow the students to do a cost/benefit analysis and determine what they see the in future for the Chevy Volt.
 * The Chevy Volt is an electric car that has a full electric charge that lasts approximately 35-40 miles, depending on driving conditions and circumstances. After the electric charge runs out, a gas-powered engine kicks in that can last about another 300-375 miles without refueling. What makes this vehicle truly unique is that other vehicle alternatives run strictly on gas, purely on electricity, or a combination of both. For example, the 2011 Toyota Prius (5dr HB V) and the 2011 Lexus GS (450h 4dr Sdn Hybrid) are true hybrids in that they run on electric-drive motors at low speeds, and during coasting or braking. However, for the most part these vehicles run on gas and electricity together. For example, once these vehicles reach a certain speed or accelerate too quickly, a gas-powered engine is engaged and the cars run on both gas and electricity at the same time. Another vehicle, the 2011 Nissan LEAF (4dr HB SL-e), runs only on electricity and does not have an internal combustion engine that uses gas. What makes the Volt unique from these vehicles is that both the Toyota Prius and Lexus GS Hybrid are not meant to drive solely on electricity without gas in the vehicle, and the Nissan LEAF does not run on gas at all. Let’s compare these vehicles with one another, and determine the advantages and disadvantages of each vehicle.
 * Review Pre assessment
 * Volt
 * Prius
 * Miles
 * 117
 * 117
 * Electric-powered Miles
 * 40
 * 0
 * Gas-powered Miles
 * 77
 * 117
 * Gallons of Gas Used
 * 2.33
 * 2.34
 * How many miles would that equate to a day?
 * At this rate, how much gas would the Volt use a day? How about the Prius?
 * Most people do not drive the same amount each day so we know for this amount of miles or less, the Volt will not burn any gas but the Prius will. We also know this factor would cause daily gas costs to be virtually nothing one day, and a lot the next…for both vehicles. Unfortunately, we cannot mimic a driving schedule since every driver is different. So, hypothetically, say that one commutes 72 miles total (to and from work) each day. Also assume that we did not drive the Volt most efficiently and only got 33 miles out of it’s charge.
 * How many of those miles will the Volt burn gas? How about the Prius?
 * At this rate, how much gas would the Volt use each day? How about the Prius?
 * // What does all of this data tell you about the Chevy Volt in comparison with Toyota Prius? //
 * // Sure, the Volt is a more expensive car ($40,280) than the Prius ($28,790), but with the Volt you have the option to drive without using any gas for up to the first 40 miles. If that is not a concern of yours, then maybe the Prius is the car for you. However, if it is, consider a few questions. //
 * // How much more does the Volt cost than the Prius? //
 * // What if you were to receive the maximum Government Tax Rebate/Savings (as mentioned under the first chart above)? //
 * // Hypothetically, again say that we travel 33 miles every day. How much would gas would we use a year in the Volt? How about the Prius? //
 * This is not so bad if we assumed gas costs $2.81 as indicated in the article, but that number is from October 31, 2010. With the rising gas prices, we know that the cost is more around $3.81 on average (April, 2011). We will examine the costs of those two numbers and the difference between them.
 * Given gas cost $2.81, how much would a person spend in gas driving the Prius in a year (use the number of gallons provided above)?
 * Not bad, but as we mentioned, the price of gas is more around $3.81. How much would a person spend in gas driving the Prius in a year at this rate?
 * How much is the difference between these two prices for a given year?
 * This is a significant difference, but we need to rewind real quick. Above we said that it costs approximately $1.54 to fully charge the Volt each day. So we will factor this into each amount of miles used above.
 * At 33 miles, we said the Volt would not burn any gas, but the Prius would burn .66 gallons of gas. How much would that cost?
 * Given this amount and the fact the Volt costs $1.54 a day to charge, what would the difference be?
 * With this data, it appears that the Volt is more efficient than the Prius at 33 miles. Hypothetically, this time try 72 miles. At 72 miles, the Volt would burn approximately .78 gallons of gas, and the Prius would burn 1.44 gallons of gas. This is where it gets a little tricky. Now we must add the gas and electricity the Volt uses and compare it to the amount of gas the Prius uses.
 * Given the .78 gallons of gas and the $1.54 cost for electricity, how much would it cost to run the Volt for 72 miles?
 * At 72 miles, the Prius would burn 1.44 gallons of gas. How much would that cost?
 * What is the difference between the two?
 * The cost of gas can affect how much money a person spends everyday, and in a year, to travel. With the unsteady and growing cost of gas, as well as the depletion of its supply, it’s easy to see why there is such a huge push for hybrid and electric cars. This makes the Volt (or Prius) appear to be even more appealing purchases.
 * After reviewing these facts and factors in this lesson, it is easy to see how much goes into the choice of buying an environmentally friendly vehicle…and we have hardly scratched the surface. One could make an argument for the Chevy Volt, Toyota Prius, Nissan LEAF, or even Lexus GS Hybrid as to which one is best and which one would be more preferable to own. Have the students review the worksheet that they completed above. Ask students: After seeing all of this information, would you change any of your answers? Why? ||  ||   ||
 * == Resources/Materials == || **__ Video __** :
 * **__ [] __**
 * __ Articles/Primary Sources: __**
 * Brochure on the Chevy Volt, Nissan Leaf and Toyota Prius
 * __ Internet: __**
 * **__ [] __**
 * __ Articles/Primary Sources: __**
 * Brochure on the Chevy Volt, Nissan Leaf and Toyota Prius
 * __ Internet: __**


 * __ Textbook __** : Houghton Mifflin, Social Studies, ||
 * **Assessment ** || **__Pre assessment: __** || Vehicle (2011) || Chevy Volt || Lexus GS Hybrid || Toyota Prius || Nissan LEAF ||
 * Price || $40,280(1) || $58,950 || $28,790 || $32,780(1) ||
 * Standard Engine || Electric-Gas || Gas-Electric || Gas-Electric || Electric ||
 * Est. Gas Fuel Economy-Miles (City/Highway) || 35/40 || 22/25 || 51/48 || N/A(2) ||
 * Miles Per Gallon Equivalent-Electric (City/Highway) || 95/90 || N/A(2) || N/A(2) || 106/92 ||
 * Battery Range-Miles (Electric) || 35 || N/A(2) || N/A(2) || 73 ||

1. Price does not include $0-$7,500 Governmental Tax Rebate (Savings) for purchase of plug-in electric cars, the first 200,000 Volts.

2. Vehicle does not provide this option. > //[The Lexus GS Hybrid ($58,950) is the most expensive.]// > //[The Toyota Prius ($28,790) is the least expensive.]// > //[The difference in the engines of all of these vehicles is that the Toyota Prius and Lexus GS Hybrid run on gas and electricity at the same time, the Nissan LEAF runs on electricity only, and the Chevy Volt runs on electricity then gas.]// > //[The Nissan LEAF does not have data for “Gas Fuel Economy”… Because it does not have a gas-powered engine, runs strictly on electricity.]// > //[The two vehicles that do not have a “Miles Per Gallon Equivalent” are the Toyota Prius and Lexus GS Hybrid…Because these two vehicles do not have the option of running strictly on electricity.]// > //[This indicates that the Chevy Volt can run for 35 miles (or up to 40 if most efficiently ran) on electricity before a gas-powered engine kicks in, the Nissan LEAF can run for 73 miles on its battery (or up to 102 if most efficiently ran) then needs to be recharged before it can be driven again. The Toyota Prius and Lexus GS Hybrid do not have a battery range alone.]//
 * 1) Which vehicle is the most expensive?
 * 1) Which vehicle is the least expensive?
 * 1) What is the difference between the engines of all of these vehicles?
 * 1) Which vehicle does not have data for “Gas Fuel Economy”? Why?
 * 1) Which two vehicles do not have a “Miles Per Gallon Equivalent”? Why?
 * 1) What does the “Battery Range” or the lack of one indicate about each vehicle?


 * __<span style="font-family: 'Times','serif'; font-size: 14.6667px;">Informal Assessment: __**
 * <span style="font-family: 'Times','serif'; font-size: 14.6667px;">An essay determining what other factors should be considered when purchasing a car.

<span style="font-family: 'Times','serif';">Have the students use this cost comparison converter article to calculate the difference between their own or their parent’s vehicle and the Nissan LEAF ||
 * == Exceptionalities == || **__<span style="font-family: 'Times','serif'; font-size: 14.6667px;">ESOL/SLD: __**<span style="font-family: 'Times','serif';">Use of a graphic organizer would be a wonderful learning resource for this lesson.
 * __<span style="font-family: 'Times','serif'; font-size: 14.6667px;">Gifted/Talented __**<span style="font-family: 'Times','serif';">:
 * __<span style="font-family: 'Times','serif'; font-size: 14.6667px;">Gifted/Talented __**<span style="font-family: 'Times','serif';">:
 * == Discussion Notes == || <span style="font-family: 'Times','serif'; font-size: 16px;">After discussing the choice of a new car based on the economics of it, we need to discuss our environmental responsibilities. ||