Objectives:

• Students will be able to select foreign currencies with their county of origin.

• Students will be able to compute foreign currency exchange transactions using currency converter.

 Key Words:

currency, trade, foreign exchange rates

 TimeLine: 1-2 class periods

 Materials: 

Internet, handouts, copies of foreign currency. Microsoft Excel (spreadsheet)

 Procedures:

1. Introduce the lesson by informing the class that Mister Panda will need assistance in making purchases in the countries that he visits.

2. Explain to the students that in order to help Mister Panda they will be learning about foreign currency and exchange rates.

3. Prior to the lesson, print or cut out pictures of foreign currency or obtain actual currencies.

4. Show the class examples of foreign currency.  Pass around the pictures or currencies so student can get a close look.

5. Prompt the students with several questions as they view the currencies.  "What special markings or symbols to they have?, " What number value appears on the currency?", "What color are the currencies?", "How is the currencies similar and different to U.S. currency?", "What did they noticed about the names of currencies in other countries."

6. Handout to each student a copy of "Currency Match" worksheet.  Using the Internet and other reference material have them work through the handout.  After students have completed the worksheet review their answers.

7. Ask students if they or their parents have ever traveled to another country.  Have they ever used currency/money from another country?

8. Ask the students how they think the value of one currency is determined against another. List their responses on the board. 

9. Inform the students that in fact buyers and sellers of currency, supply and demand determine the exchange rates. Explain that the value of currency, including the U.S. dollar goes up and down each day in relation to other countries currency.

10. Ask the students what implications might exchange rates have on oversea travel.  How would the value of a dollar have on making purchases overseas.

11. Make copies of a current currency conversion table and distribute one to each student.

12. Inform the students that using the conversion table they will be converting U.S. dollars into foreign currency. Distribute the "Converting U.S. Dollar" worksheet to each student.  Review the answers with the students.

13. Have the students create a conversion table using Microsoft Excel based on the travels of Mister Panda. (use the data from the Currency Match)

 Assessment:

Conversion Table rubric

Extension Activity:

Have the students create their own currency using a drawing program.

Create a world map display showcasing foreign currency and its country of origin.

Suggested Web Links:

Currency Converter: Convert any amount from one currency to another.

World Exchange rates: the exchange rates for international currencies.

Universal Converter: The world's favorite free Internet foreign exchange tool.

 FXConverter: multi-lingual Currency Converter with up to date exchange rates.

World of Money: this site from the British Museum explores how money originated and has developed over many centuries.

Where in the World & What in the World is Money- game to find out just what money has been through the centuries.

Trading Around the World: game to experience the challenges and excitement of international trade.