The IMF, Money,
International Trade and Cooperation
(Activities: Cornerstones of the IMF and Trading Around the World)
Group #2:
Development of Money
Students will study both the "Money Wheel" and label text to understand money terms.
Money Wheel (shaped as coins with central arrow) includes 4 sections:
- What is money?
 measure of value and
medium of exchange
- "money is anything that people will routinely accept as payment in exchange for goods and
services."
- How did barter develop? (using livestock and crops)
to money Illustrate barter with playground transaction, i.e.
"I'll trade my pretzels for your chocolate chip cookies."
- Development of money using precious metals
coins
paper money
- Circulation of money
need for convertible
currencies
Act out the following 2 scenes that address the following concepts:
Hardships of Earlier forms of "Money:"
- How do we determine the worth of bartered goods?
- Were the precious metals and coins convenient for travel?
- Without convertibility (explain convertibility) how can people spend their country's money in another country?
Conveniences of Modern Money:
(include modified version of Treasure Chest of Currencies)
- How is money more efficient than barter?
- Why is paper money more convenient than coins and precious metals?
- What are the advantages of being able to convert money from country to country?
SO WHAT? It was the history of money that helped us to develop the current conveniences
of money today. How do you think money will become even more convenient in the
future? How money can be adapted for electronic transactions? What will money look like?
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