68 customizable lessons, aligned with National Standards, exams and more.
Read NGPF's school-by-school analysis of financial education in America today
Activities
Advocacy
Behavioral Economics
Best Of
Budgeting
Buying a Car
Career
Checking
Consumer Skills
Credit
Cryptocurrencies
Current Events
Curriculum Announcements
Economics
Entrepreneurship
Edpuzzle
ELL Resources
FinCap Friday
Gambling and Sports Betting
Insurance
Interactive
Investing
Math
Paying for College
Philanthropy
Podcasts
Press Releases
Professional Development
Question of the Day
Savings
So Expensive Series
Taxes
Teacher Talk
EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards, and providing resource suggestions to help you incorporate the current events into your lessons.
The Headline Issue
In spite of all the positive economic news we have seen of late (apart from inflation), the past week saw headlines with the “r” word (recession). Why are some economists predicting an impending recession, when employment has largely recovered from the pandemic hit, unemployment is back down to pre-pandemic levels, new unemployment claims are the lowest we’ve seen in decades, and growth of GDP is back up? In a word, booming inflation is the reason.
Demand for many goods and services has outpaced supply and driven prices up at rates not seen in 40 years. Pandemic-related labor shortages and supply chain issues got us into this mess, and now the war is adding more uncertainty to the whole picture. Economists have stated that perhaps if the Fed had acted sooner to tighten monetary policy, a “soft landing” might have been possible, but at this point, they feel the Fed will have to really slam on the brakes, which is likely to slow the economy down in the process.
The Resources
There are two articles students can read to understand economists’ thinking on this subject:
The Assignment
Have students read both articles and answer the following questions.
NGPF Podcast (Classic): JL Collins on gaining financial independence through a simple approach to investing
Question of the Day: True or False? It helps your credit score to carry a small balance on your credit card every month.
NEW Activity - MOVE: Interest Rate Ripple Effect (FOMC Press Conference Sep 18, 2024)
5 Resources to Decipher the U.S. Debt Clock
Interactive: The Federal Budget in 2023
Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.
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