Lesson Plan
Course Title: Global Business
Session Title: Lesson 1.3 - The Role of the International Monetary System
Performance Objective (LSI Quadrant 1-Why are we doing this?):
The purpose of this lesson is to help students gain a basic understanding the IMF, the pros and
cons of both flexible and fixed exchange rates, and to be able to calculate exchange rates.
Approximate Time:
Three days
Specific Objectives (LSI Quadrant 1-Why are we doing this?):
SWBAT (Student Will Be Able To…)
1.3A-Describe the role of the International Monetary Fund.
1.3B-Argue for and against flexible (floating) exchange rates.
1.3C-Argue for and against fixed exchange rates.
1.3E-Calculate foreign exchange rates.
Terms:
International Monetary Fund (IMF) – An agency that helps to promote economic cooperation by
maintaining an orderly system of world trade and exchange rates.
Pro – An argument, consideration, vote, etc., for something.
Con – An argument, consideration, vote, etc., against something.
Exchange Rate – Price for which the currency of a country can be exchanged for another country's
currency.
Floating Exchange Rate – A system in which currency values are based on supply and demand.
Fixed Exchange Rate – System in which the value of a country's currency, in relation to the value
of other currencies, is maintained at a fixed conversion rate through government intervention.
Foreign Exchange Rate – Conversion rate of one currency into another. This rate depends on the
local demand for foreign currencies and their local supply, country's trade balance, strength of its
economy, and other such factors.
Calculate – To determine by mathematical methods.
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Preparation
TEKS Correlations:
This lesson, as published, correlates to the following TEKS. Any changes/alterations to the
activities may result in the elimination of any or all of the TEKS listed.
1.3 The student analyzes the role of the International Monetary System in the Economy.
(A) Describe the role of the International Monetary Fund.
(B) Argue for and against floating exchange rates.
(C) Argue for and against fixed exchange rates.
(E) Calculate foreign exchange rates.
Interdisciplinary Correlations:
English-English 1
 110.31(b)(1). Reading/Vocabulary Development. Students understand new vocabulary and
use it when reading and writing.
 110.31(b)(11). Reading/Comprehension of informational text/procedural texts. Students
understand how to glean and use information in procedural texts and documents.
Occupational Correlation (O*Net – www.onetonline.org/ )
Job Title: Securities and Commodities Traders
O*Net Number: 41-3031.03
Reported Job Titles: This title represents an occupation for which data collection is currently
underway.
Tasks: Agree on buying or selling prices at optimal levels for clients, devise trading, option, or
hedge strategies, monitor markets or positions.
Soft Skills: None reported at this time.
Teacher Preparation:
 The teacher will review the terms in the outline, presentation slides, and any provided
materials to become familiar with the lesson.
 Teacher should locate and evaluate various resources and websites before the lesson.
 Teacher will have assignments and website information ready to distribute to students.
References:
International Business (3E), Dlababy & Scott, Thompson Southwestern
Copyright © Texas Education Agency, 2012. All Rights Reserved.
2
http://www.youtube.com/watch?v=f1z3cGxSv_E&list=UUIYhr3JsLYfKkCM7W5B6DA&index=10&feature=plpp_video
http://www.imf.org/external/
http://www.xe.com/ucc/
www.businessdictionary.com
www.dictionary.com
Instructional Aids:
 Lesson 1.3 Presentation-The Role of the International Monetary System
 Access to YouTube and IMF sites
 Access to businessdictionary.com and dictionary.com
 Textbook
 Access to XE website (to calculate exchange rates)
Materials Needed:
Lesson 1.3 Presentation-The Role of the International Monetary System
Lesson 1.3-Formal Assessment
Lesson 1.3-Formal Assessment Key
Equipment/Software Needed:
 Projection unit
 Instructor computer
 Internet access
 Electronic system for taking notes
Learner Preparation:
Purpose of Assignment and Need to Know Terms – Snapshots of slides below.
Introduction
Introduction (LSI Quadrant I-Why are we doing this lesson?):
ASK: Do you know what the IMF is?
ASK: Do you know the role of the IMF?
ASK: Do you know what an exchange rate is?
ASK: Do you know which is better…a fixed rate or a floating rate?
ASK: Did you know there is a website that can tell you how much the US dollar is worth in other
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countries?
ASK: If you were traveling to another country, wouldn’t it be nice to know how much power your
dollar has there?
SAY: Today we’re going to talk about the IMF, learn its role, determine which is better; either a
fixed exchange rate or a floating exchange rate, and practice calculating exchange rates
using an online calculator.
Outline
Outline (LSI Quadrant II-What are we doing in this lesson?):
Instructors can use the presentation program/software, slides, handouts, and notes pages in
conjunction with the following outline.
MI
Outline
I. Introduction (Day 1)
A. Lesson Objectives
B. Need to Know Terms. (See provided
presentation for details.)
Notes to Instructor
There is no provided
discovery activity for this
lesson.
II. Guided Instruction (Day 1)
A. Instruction-”What is the IMF?” video(s)
B. Class discussion questions
One of these videos is
posted on YouTube in
the IMF account. The
other is taken directly
from the IMF website.
III. Guided Instruction (Day 2)
A. What are the pros and cons of floating and
fixed exchange rates? Are there other
reasons that aren’t listed?
B. ”How Exchange Rates Might Affect You”
activity.
These articles (two) list
more than three
pros/cons for each type
of rate along with
detailed information
about each type. You
may want to have
students pick their top
three for each. The
activity is on slides 7 and
8 of the presentation.
Use presentation
template to highlight key
pieces of information.
IV. Review (Day 2)
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4
V. Formal Assessment (Day 2)
Verbal
Linguistic
Logical
Mathematical
Visual
Spatial
Musical
Rhythmic
Bodily
Kinesthetic
Use provided
assessment documents.
Intrapersonal
Interpersonal
Naturalist
Application
Introduction-(LSI Quadrant III-How are we going to do this?):
Purpose of Assignment and Need to Know - Snapshots copied and pasted below:
Guided Instruction (LSI Quadrant III-How are we going to do this?):
Instruction and Discussion Questions - Slide snapshots copied and pasted below:
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Existentialist
Informal Assessment (LSI Quadrant III-How
are we going to do this?):
Check one or all of the following:
• Need to Know terms
• Class participation in discussion questions
• Notes taken during class instruction
• Exchange Rate Activity
Summary
Review (LSI Quadrants I-Why are we doing this lesson? and IV-Extending the lesson):
Purpose of Assignment, Review, and Extensions - Slide snapshots copied and pasted below:
Evaluation
Informal Assessment (LSI Quadrant III):
Check one or all of the following:
• Need to Know Terms
• Discovery Activity
• Notes taken during class lecture/discussion
• Exchange Rate Activity
Extension
Extension/Enrichment (LSI Quadrant IV-Extending the lesson):
Extensions - Slide copied and pasted below:
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Assessment (LSI Quadrant III-How are we doing this?)
Lesson 1.3 Formal Assessment (provided)
Grading Rubric-Source: http://www.rcampus.com/rubricshowc.cfm?code=F4A59A&sp=yes&
Short Answer Test Assessment Rubric
Needs
No Answer
Improvement
0 pts
4 pts
Content
10 pts
No Answer
Did not answer
question.
Organization
10 pts (Answers
are clearly thought
out and
articulated.)
Writing
Conventions
10 pts (Spelling,
punctuation,
grammar, and
complete
sentences.)
No Answer
Did not answer
question.
No Answer
Did not answer
question.
Needs
Improvement
Answers are
partial or
incomplete. Key
points are not
clear. Question
not adequately
answered.
Needs
Improvement
Organization and
structure detract
from the answer.
Needs
Improvement
Displays over five
errors in spelling,
punctuation,
grammar, and
sentence
structure.
Adequate
6 pts
Adequate
Answers are
not
comprehensive
or completely
stated. Key
points are
addressed, but
not well
supported.
Quality
8 pts
Quality
Answers are
accurate and
complete. Key
points are
stated and
supported.
Exemplary
10 pts
Exemplary
Answers are
comprehensive,
accurate, and
complete. Key
ideas are
clearly stated,
explained, and
well supported.
Adequate
Quality
Exemplary
Inadequate
organization or
development.
Structure of
the answer is
not easy to
follow.
Organization is
mostly clear
and easy to
follow.
Well organized,
coherently
developed, and
easy to follow.
Adequate
Quality
Exemplary
Displays three
to five errors in
spelling,
punctuation,
grammar, and
sentence
structure.
Displays one to
three errors in
spelling,
punctuation,
grammar, and
sentence
structure.
Copyright © Texas Education Agency, 2012. All Rights Reserved.
7
Displays no
errors in
spelling,
punctuation,
grammar, and
sentence
structure.
Lesson 1.3 ‐ The Role of the International Monetary System Formal Assessment Objective: To determine your level of understanding of the International Monetary Fund (IMF) and its role, the pros and cons of both fixed and flexible exchange rates, and your ability to convert currency. Please answer the following questions (be specific and detailed). 1. What is the role of the International Monetary Fund (IMF)? Answers will vary and need to include specifics from the lesson. 2. Identify one pro and one con for using a flexible exchange rate. Answers will vary and need to include specifics from the lesson. 3. Identify one pro and one con for using a fixed exchange rate. Answers will vary and need to include specifics from the lesson. 4. Using the exchange calculator at http://www.xe.com/ucc/, find and report the current amount you would receive if you were traveling to Great Britain. Answers may vary from day to day. Each of the first three questions will be worth 30 points and the fourth question will be worth 10 points. Copyright © Texas Education Agency, 2012. All Rights Reserved.
1
Lesson 3 ‐ The Role of the International Monetary System Formal Assessment Objective: To determine your level of understanding of the International Monetary Fund (IMF) and its role, the pros and cons of both fixed and flexible exchange rates, and your ability to convert currency. Please answer the following questions (be specific and detailed). 1.
2.
3.
4.
What is the role of the International Monetary Fund (IMF)? Identify one pro and one con for using a flexible exchange rate. Identify one pro and one con for using a fixed exchange rate. Using the exchange calculator at http://www.xe.com/ucc/, find and report the current amount you would receive if you were traveling to Great Britain. Each of the first three questions will be worth 30 points and the fourth question will be worth 10 points. Copyright © Texas Education Agency, 2012. All Rights Reserved.
1