National Standards in Economics

Below are the National Standards in Economics that most closely relate to the following lesson. Switch to National Standards in Personal Finance

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LESSON

Theme 4: Lesson 12 - Credit Is Based on Trust

http://fffl.councilforeconed.org/lessons.php?lid=68175&gradeLevel=3-5

Grades: 3-5

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STANDARDS

Standard: 12

Grades: 4-12

• Interest Rates
• Students will understand that: Interest rates, adjusted for inflation, rise and fall to balance the amount saved with the amount borrowed, which affects the allocation of scarce resources between present and future uses.
• Students will be able to use this knowledge to: Explain situations in which they pay or receive interest, and explain how they would react to changes in interest rates if they were making or receiving interest payments.