Alabama Social Studies SS24.E.11b
The Standard
- SS24.E.11
- Explain why individuals, businesses, and nations engage in trading goods and services in the global economy.
Locate and utilize current economic data to demonstrate how changes in exchange rates impact the purchasing power of individuals and businesses.
2024 Alabama Course of Study: Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students find two recent, dated exchange rates from a reliable source. They use each rate to calculate what a euro-priced purchase costs in dollars for a shopper and a US business.
What Mastery Looks Like
- Students record the source, dates, and units for each rate. They calculate the dollar cost on both dates and explain which date makes each purchase more expensive.
Common Misconceptions
- Students may confuse dollars per euro with euros per dollar and use the wrong operation. They may think a stronger dollar makes euro-priced imports cost more, or that store prices change as soon as exchange rates do.
How to Assess It
- On FRED's DEXUSEU page, find the latest available dollars-per-euro rate and one from about four weeks earlier. Date both quotes, calculate the dollar cost of a €100 purchase and a €10,000 supplier invoice at each rate, then explain which date costs more.
Lesson moves
Ways to Teach It
Give pairs printed FRED rate quotes and €100 and €10,000 price cards; have them calculate dollar costs on both dates.
Ask students to write: If the dollar buys fewer euros, what happens to a US shopper's euro-priced purchase and an importer's invoice?
Run a conversion relay: teams draw dated rate cards and euro price cards, then check their dollar totals and label the cheaper date.
Use two recent rates to compare the dollar cost of a euro-priced hotel room and a small shop's stock order.
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