Money and banks
Students examine different types of currency, examining the advantages and disadvantages of bartering for goods, ‘commodity money’ such as gold or salt and ‘fiat money’, such as coins and notes. They read about what services banks offer, why we use them and how they make money. Listening exercises focus on ...
The class is introduced to the notion of a ’traditional’ or ’subsistence’ economy, looking at its benefits and drawbacks. Students learn about the market economy, comparing free market economies to an actual street market. Listening exercises focus on pygmy societies, in particular the Mbuti tribe of central Africa, and Adam ...