Lesson Objective: At the completion of this lesson, students will be able to describe and explain how interest rates affect the value of a dollar and how exchange rates affect purchasing value in the global market. Supplies Needed: Lesson Supplies Two different color sheets of paper cut in strips torepresent currency and a bag of candy Student Handout 1 Exchange Rates and Currencies (1 per student) (found in Task 2) Student Handout Answer Key 1 Exchange Rates and Currencies (found in Resource Library) Student Handout 2 Timbuktu Bidding Game - Tally Table (1 per student) (found in Task 4) Student Handout 3 The Timbuktu Bidding Game Analysis (1 per group) (found in Task 5) Student Handout 4 Currency and Exchange Rate Quiz (1 per student) (found in Task 6) Student Handout Answer Key 4 Currency and Exchange Rate Quiz (found in Resource Library) Teacher Resource 1 Big Mac Index Poster (When printing poster, uncheck “fit picture to frame” in the print dialogue box.  Also, print on legal sized paper or larger. Best printed on 11x17 landscape.) (found in Task 3) Video 1 Big Mac Index (1:13) (found in Task 1)   References: Econedlink: Council for Economic Education. (n.d.). Economic Glossary. IMF Center: A public center for economics education. (n.d.). Lessons #1 and 2 focus on the IMF and its role in the global economy. Retrieved from http://www.imf.org/external/np/exr/center/students/hs/think/lesson7.pdf MBA dictionary. (n.d.). Retrieved November 15, 2014, from MBAResearch and Curriculum Center Rinsema, Kate. Alltop: Holy kaw! (n.d.). The big mac index [infographic]. Retrieved from http://holykaw.alltop.com/the-big-mac-index-infographic Travelex: Worldwide money. (n.d.). The Economist: Big mac index. Retrieved from http://www.spring.org.uk/the1sttransportX-Rates. (n.d.). Rates Table. Retrieved from http://www.x-rates.com/table/?from=USD Copyright Permission:Copyright permission has been given for the educational use of the web-based and printed Big Mac Index Chart, contained within this lesson.

Students will explore vacation destinations around the world to develop an understanding of global trade, comparative advantage, exchange rates, and the value of the dollar in other countries. Each team will conduct thorough research of multiple vacation destinations and then select one that team members believe would be an unusual, educational, and highly economical destination for student groups. The team will then develop a website, digital poster, or other deliverable that creatively explains its recommended vacation destination, the exchange rate, two examples of comparative advantage that the destination country enjoys, and expenses incurred during the week-long vacation.  The attached project document (found in the Resource Library) includes step-by-step instructions, templates, briefings, resources, and rubrics to help in executing this project. A PowerPoint to help introduce the project is also available in the Resource Library.  Driving Question: What would be the most economical, unique, and educational travel destination for students? Timeframe: 2 weeks