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Count on the Euro

Learn about world currency and create an exchange rate conversion chart.

Lesson Plan

Supplies Needed

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  • Paper

Steps

  • Step 1

    In 1951 six European countries formed the European Coal and Steel Community. This became the European Economic Community (EEC) in 1958 and the European Union (EU) in 1993. The euro became the standard unit of currency for all of the EU member states except one. Over the years 22 more countries joined, and one left the union. Have students find out which countries are current members, which one left, and which country did not adopt the euro as its unit of currency.

  • Step 2

    Have students choose several non-EU countries to research. Ask them to find out each country's unit of currency and its exchange rate with the euro. Then have them create a chart listing the country, the name of its currency, and its value against the euro. They might also add embellishments such as a drawing of the national flag or other items associated with the country. If they use erasable colored pencils they can update the chart periodically as rates change.

Standards

SS: Individuals, Groups, and Institutions: Explore ways in which institutions (including voluntary associations/organizations, health care networks, etc.) are created to respond to changing individual and group needs.

SS: Production, Distribution, and Consumption: Explore economic decision-making by comparing one's own economic experiences with those of others.

Adaptations

Ask students to make a list of some household staples and find out what they cost in other countries, then calculate how much it would cost in dollars.

Have students learn about currency in the original 13 colonies. For example, the value of a coin in Massachusetts might be different from the same coin in Pennsylvania. And there was something called "commodity money" which which were products such as tobacco or beaver skins used as currency.