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Lesson Plan: Inflation Through the Lens of Time. A personal journey. Grade Level: 9–12

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Subject: Financial Literacy / Economics


Class Length: 90 minutes (adaptable to 45 minutes)

Objectives

By the end of this lesson, students will be able to:

  1. Research and record historical prices of common goods and services on their birth date.

  2. Research current prices of those same goods and services.

  3. Compare past and present prices to calculate the rate of inflation using a three-step formula.

  4. Understand how inflation impacts everyday living expenses and purchasing power.


Materials Needed

  • Internet-enabled devices (phones, laptops, or tablets)

  • Student notebooks or paper for data recording

  • Calculator (or calculator app)


Florida Sunshine State Standards Alignment

  • SS.912.FL.1.1 – Explain how personal financial decisions are influenced by incentives, institutions, and individual choice.

  • SS.912.FL.1.2 – Analyze the relationship between career choices, income, and financial planning.

  • SS.912.FL.3.2 – Explain how individuals incur costs and realize benefits when consuming, saving, and investing.

  • SS.912.E.1.2 – Describe how economic choices made by individuals, businesses, and governments impact standard of living.

  • MA.912.DP.1.1 – Collect, represent, and interpret data using statistics.


Lesson Directions

Step 1: Write Birth Date

  • Students begin by writing down their date of birth at the top of their notebook page.

Step 2: Historical Research

Students will research and record the following average prices on their birth date:

  • Price of one ounce of gold

  • Price of one gallon of milk

  • Price of one dozen eggs

  • Average car price

  • Average monthly rent in Broward County

  • Average movie ticket price in Broward County

Students list these neatly in a column labeled “Past Prices.”


Step 3: Current Research

Students research today’s prices for the same items and record them in a second column labeled “Current Prices.”


Step 4: Inflation Calculation

For each item, students calculate the rate of inflation using this formula:

  1. Find the difference:


    Current Price − Past Price

  2. Divide the difference by the original price:


    (Difference ÷ Past Price)

  3. Multiply by 100 to convert to a percentage:


    ROI (Rate of Inflation) = \((Current − Past) ÷ Past\) × 100

Students should present answers as percentages.


Step 5: Reflection & Class Discussion

  • How does inflation affect savings, wages, and purchasing power?

  • Did any item rise much faster than the others? Why do you think that happened?

  • How does this connect to real-life decisions about saving and investing early?

Assessment

  • Students will submit their two-column price chart (past vs. present prices).

  • Students will show inflation calculations for at least three items.

  • Participation in reflection discussion.

Extension Activity

  • Have students graph one item (e.g., gold or milk) over time (birth year through today's date)


 
 
 

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