Tag Archives: money

Gadget Shop

Fed up of students wanting only the latest, trendiest gadget (usually from Apple at our school), I created this lesson to get students to more rationally and thoroughly assess a range of gadgets. One of the intended outcomes is to encourage students to consider devices at different price points, with the aim of seeing what represents good value, where cut corners effect the whole experience, and what features are just marketing fluff.

Gadget Shop SpreadsheetGadget Shop Spreadsheet (XLSX)

Students could undertake this task individually, or in small groups, but my preference is to have them do it as a whole class, with the hope of promoting more discussion and passion about what is valuable, and what is not. The following instructions, included in the spreadsheet, should guide students in completing the spreadsheet:

  1. Decide on the 10 criteria you wish to judge each device on, or use the ones included. The criteria must be the same for all devices. An example would be “Screen Size”.
  2. Assign each criteria a weight according to it’s importance. Total weight must be equal to 100.
  3. Choose 9 devices (3 laptops, 3 tablets, 3 phones) and enter their names into the column headers (e.g. Laptop 1 name goes into “L1 Name”)
  4. Research the nine devices online, and enter details of the specs for each criteria under the “Detail” column for that device.
  5. Assign a “Score” for each criteria (from 0 up to 10), based on the information entered into the “Detail” column.
  6. Once the table is complete, the highest score total for each product type should be the best product.

Measuring Worth

http://www.measuringworth.com

Measuring Worth is a fantastic online application which aims to give a modern day value to sums of money from the past. For example, how much was £20 worth in 1760? Even for someone with an understanding of economic concepts such as inflation and purchasing power, understanding the value of “old money” can be tricky. For example, I was taken aback when my father referred to purchasing “8 pints of beer for a pound” when he was a young man, not having realised quite how powerful inflation is, even over a relatively modest span of time.

In terms of the classroom, such knowledge can definitely help provide students with an enriched understanding of historical events. I recently had a group of engineering students with whom I used this website to work out the current value of several tens of thousands pounds from the 1880s. This enriched context provided them with a much better understanding of the scale of the project in question, and they seemed to enjoy the experience: apparently, economics can be fun.