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FEDERAL RESERVE BANK OF NEW YORK Teacher's Curriculum Guide To LIFE OF A DOLLAR BILL Intr oduction: This teaching packet has been designed to stimulate student interest and enhance classroom instruction in economics. The packet can best be used as a teacher introduces a unit of study on money. The packet consists of a poster and twenty-five copies of a four-page illustrated booklet. Goals: The general goals of the packet are to develop in students an economic understanding of how the currency component of the money supply gets into circulation and how money flows in generating Gross National Product. More specific goals are to familiarize students with the following economic concepts: the three kinds of money, the purposes money serves, and how money, resources and goods flow between households, businesses, governments, and banks. Vocabulary: Currency Checking account Bank Federal Reserve Bank Households Business Government Income Goods Services Economic Resources Gross National Product Introducing the Lesson: Teacher(holding a dollar bill in froritoftheclass):"Whatisthis in my hand?Whatwill itdoforyou?Where was it before I got it? Where did it originally come from?" After discussion the teacher tells the students that they are going to learn more about the life of a dollar bill. , Discussion and Reading Booklet: Teacher (while distributing booklets to students): "This is a special booklet aboutmoneythatwewill read and share together." The teacher should begin reading the booklet to the students as they follow along in their own booklets. The booklet should be used as a discussion tool and should not be read straight through without stopping. For example, when the booklet states, "Throughout history money has taken many forms", the teacher should use this as an opportunity to discuss other items (animal skins, grain, shells, pots, rings) which historically have been used as money. In the course of the reading activity, delay putting up the poster until the booklet states, "Dollars like me are printed by theTreasury'sBureauofEngravingandPrintingin Washington, D. C." Atthistimeputup the poster and point to the top, showing the beginning of the life of a dollar bill. As the teacher proceeds through the booklet the reading should be correlated with the poster, pointing to various concepts, terms, etc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis After the discussion activity the booklets should be placed in the classroom where they are readily available for students to reread and review. 1. Set up a barter game and allow students to trade objects. Afterwards, discuss complications that were encountered in trading, such as the fact that many trades were required before getting what you want or that values were hard to compare. Discuss how money makes trading easier. 2. Take a field trip to a bank to find out how a checking account works. Back in the classroom display a large copy of a check on a chart and have students practice writing checks on blank forms. Discuss why most money used is in the form of checks. 3. Have students research information on Federal Reserve Banks. For example, find the location of the Federal Reserve Bank nearest you. Find out if it burns o·r shreds worn-out bills? If shredded, is it recycled? 4. As art activities, students could design their own dollar bills using appropriate symbols or draw sequential cartoon illustrations tracing the paths in the life of a dollar bill. 5. A creative writing experience could involve students personifying"Bill.... Dollar Bill."Theirstories of Bill could describe his lifespan of approximately 18 months, being refolded atleast4000times, and living in dirty, cramped pockets or clean metal vaults. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Polly Gray School Services Consultant Arkansas State Council on Economic Education