This document provides information and resources for using technology to teach economic principles in business courses. It discusses how to create a credit module using online resources like Virtual Economics and EconEdLink. These sites provide lesson plans, activities, and multimedia content focused on topics like credit that can be used to engage students. Tips are offered on explaining credit to students and finding current economic topics to illustrate principles. The goal is to incorporate relevant "teachable moments" into business lessons using available digital tools and materials.

1. On to the Good Stuff: Use Technology to Cover Core
Economic Principles in Your Business Courses
Today You'll Discover How To:
1. Use technology to create a credit module
2. Build your knowledge base of (and comfort with) economic and
personal finance concepts
3. Find "teachable moment" economic and personal finance lesson plans
Resources:
Virtual Economics -- http://ve.councilforeconed.org
EconEdLink -- http://www.econedlink.org
Troy D. White, Senior Director of Sales and
Marketing
VCTE Conference
Council for Economic Education
Richmond, VA
twhite@councilforeconed.org
August 5, 2009
212-730-1791 work
917-270-0634 cell
I became a teacher because
__________________________________________________________________________
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2. Credit is a hot buzzword today, so let's click on Credit to get started...

3. "Overview" tab -- a definition used to teach the concept of Credit
Credit refers to the ability to borrow money. Some forms of credit commonly used by consumers are car loans, home
mortgage loans and credit cards. Firms also use credit regularly, either by borrowing from a bank or issuing corporate
bonds. Government also uses credit when it needs to borrow money to finance a budget deficit. Those who can borrow
moderate or large sums of money at a reasonable rate of interest are sometimes said to have good credit, while those
who cannot borrow such amounts at such rates are said to have bad credit.
Credit is extremely useful to the economy....

4. Glossary for Credit Lesson -- populated from Credit "Overview" hyperlinks
Consumption
Spending by households on goods and services. The process of buying and using goods and
services.
Goods
Tangible objects that satisfy economic wants.
Households...

5. Here are more Credit terms, from the full glossary

6. "Lessons" Tab -- finding activity-based lessons to demonstrate Credit
A description of the lesson is included underneath the title...

7. After deciding the lessons under the "Lessons" tab weren't a good fit, we chose "view more
high school lessons >>". Now we have 37 lessons to choose from...

8. We're going to use "The Credit Card Mystery" lesson from the "Great Economic Mysteries
Book"
We'll print the lesson, and we're ready for our in-class activity!

9. "Tips" Tab -- helps us teach the concept with confidence
Tip #1
Students often think that credit cards are money, and they don't recognize that there is a
responsibility associated with credit. On a particularly beautiful day, allow your students to
borrow 10 minutes of class time for additional recess. Explain that they will have to repay
you later and that you will charge interest. On another particularly beautiful day, explain
that the students will have to repay the time that they borrowed plus one minute. Reduce
their recess time by 11 minutes. They will complain, but remind them that credit involves
borrowing something with the promise to repay. Discuss other things that they and other
people borrow. Point out that when we borrow, we get something now, but we give up
something in the future. Identify the extra minute as interest and explain that when
people borrow money, they pay interest. Interest is the price paid for using someone
else's money. Ask the students to analyze the costs and benefits of borrowing recess time.
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Tip #2
Credit can be an effective tool for purchasing goods and services that are needed or
desired. When talking about credit, ...

10. "Multimedia Demonstration" -- video clip introduces/reinforces the concept (for you and
your students)

12. Let's find an online lesson to extend our Credit lesson...

13. We have a free online lesson from EconEdLink.org
Go to http://www.econedlink.org/lessons/ and search for 'credit for beginners' (no quotes)

14. Finding Teachable Moment Lesson Plans on EconEdLink.org
Step 1. Scroll to bottom of http://www.econedlink.org and click on "quick search" to find a
particular concept
Step 2. Refine your search with the "Find a Lesson" section on the left side of the screen
• Clicking the "advanced" button lets you search the title and body for keywords
Step 3. Navigation
a) Current Events -- latest economic news, with "related lesson plans" that help you apply
economics lessons to current events
b) Weblinks -- online resources and Web sites
c) Datalinks -- key economic data, and what it means
d) Cyberteach -- includes a "Today In History" with related lessons to teach that topic;
EconEdLink Tools, http://www.econedlink.org/cyberteach/tools.php, has interactives
e) Standards -- find lesson plans that meet your state economic content standards