On Wednesday Mr. Shpaner joined us for a lessons. Below is an explanation written by Mr. Shpaner regarding what our lesson included. Thank you Mr. Shpaner for another wonderful lesson!
Today the class considered whether people could trade goods without money (for example, by bartering), and how using money makes it more efficient. We discussed whether things other than paper bills and metal coins could be used as money and learned that, in order to be useful, money must meet three requirements: (1) have some value; (2) be usable now or later; and (3) be easy to count. As examples, we evaluated the following as “currencies”: (a) friendship (valuable, but impossible to count); (b) apples (valuable, can be counted, but can only be saved for a short time); and (c) rocks (easy to count and save, but not valuable; however, precious stones, like emeralds, could work). A student insightfully pointed out that an object too valuable and unique would notwork, because not enough people would have access for it to truly circulate as money. We then discussed that another country, like Canada, would have its own bills and coins that are not “money” accepted in the US, and vice versa. Each student then traced with a pencil and compared a US quarter and a Canadian quarter.
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