House Hunters! Engaging Inflation Simulation (Memorable Money Supply Lesson)
Ed Dynamic
295 Followers
Grade Levels
6th - 12th
Subjects
Resource Type
Formats Included
- Google Drive™ folder
Pages
34 pages
Ed Dynamic
295 Followers
Made for Google Drive™
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What educators are saying
I loved using this resource! My students from first semester still talk about the day we did the activity.
This is arguably the best resource I've every purchased from TPT. The house hunting game is genius and one of my students' favorite activities of the year.
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Description
This is a quick and engaging inflation simulation that students love. It asks students to bid against one another to win the house of their dreams (or nightmares!)
In the second round, students budgets are doubled (effectively doubling the money supply for the controlled classroom economy). The simulation demonstrates clearly the relationship between money supply and inflation in one quick and engaging lesson that you and your students will come to enjoy!
The directions given are:
- Inform everyone that they will participate in a bidding war today to buy a house. There are only 13 houses for sale, so it is very possible to end up without one, which should be avoided at all costs
- Give every student a budget. I like to use the random wheel linked on the instructions slide to randomize a budget between $700k and $1.1 million. This also adds intrigue.
- Quickly conduct the first round of bidding. You can do silent auction style (everyone writes down their bid and reveals on the count of three- given to the highest bidder) or live auction style (“Do I hear $500k? $550??)
- Next, inform students their budget will double. Take a little more time milking bids or talking up the houses. The starker the contrast between the first and second auctions the more it drives the relationship between the money supply and inflation home
- At the conclusion of the second round of bidding, shift into a discussion on inflation and the money supply, tying key questions back to key moments during bidding.
- Have fun with it! In my experience this is a favorite and memorable way to introduce the idea of inflation
The product also includes a follow-along worksheet so students can easily observe and track the difference in prices between Round 1 and Round 2.
Total Pages
34 pages
Answer Key
N/A
Teaching Duration
1 hour
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295 Followers
