Indiana Social Studies 6.E.3
The Standard
Explain why international trade requires a system for exchanging currency between various countries.
2026 Indiana Academic Standards: K-12 Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain why a buyer in one country may need to exchange money before paying a seller in another country. They use an exchange rate to find the cost in the buyer's currency.
What Mastery Looks Like
- A student can explain that a U.S. buyer with dollars may need euros to pay a seller who asks for euros. Given a rate of €1 = $1.10, they can find that a €10 item costs $11.
Common Misconceptions
- Students may think every country uses dollars or that a seller must accept any currency. They may also treat exchange rates as fixed or confuse which amount to multiply when converting a price.
How to Assess It
- Exit ticket: A U.S. shop buys a €20 item from a Spanish seller who wants euros. If €1 costs $1.10, how many dollars does the shop need, and why must it exchange currencies?
Lesson moves
Ways to Teach It
Give pairs paper dollars and euros, then have them buy a €10 item using a rate card showing €1 = $1.10.
Have students write two sentences explaining what happens when a U.S. store has dollars but a French seller asks for euros.
Run a rate-card relay: teams convert three euro prices into dollars, then swap rates and explain why the dollar totals change.
Show a bank's exchange-rate board and have students calculate the dollar cost of a €5 souvenir bought from a seller who wants euros.
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Printable 6.E.3 Worksheet
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Related Standards
- GE.4.5
Discuss the components that make up the balance of payments and balance of trade among nations.
- 3.E.5
List the characteristics of money, and explain how money makes trade and the purchase of goods easier.
- GE.4.2
Explain how specialization promotes international trade and how international trade increases total world output.
- 2.E.4
Explain why people trade for goods and services, and explain how money makes trade easier.
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