UNIT 3 - PURCHASING POWER AND THE QUANTITY THEORY OF MONEY

• Slides 27/36 - Teaching time 3/4 hrs

• Objectives:

  • knowledge of concept of purchasing power
  • quantity theory of money and its implications

• Procedure:

  • warm up (slide 27) - teacher shows slide and introduces the concept of purchasing power of money through Ss answers to questions in the slide
  • key words
  • activity - slides 27/36 - teacher shows slides interacting with Ss.
  • End of unit 3- pair work - Ss go through the quantity theory; draw the variables of the equation; point out the connection between money supply and prices
  • Exercise (Hot potatoes - crossword)

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