Students will be able to analyze credit and interest from their parents’ perspective, a Biblical perspective, and a business perspective.
Students will be able to explain their personal opinion of credit and interest.
 

Introduction—

1.      Introduce the class by telling students that we are going to bring everything we have studied for almost two weeks together to help us in this lesson.  Make sure students have all necessary materials (see above).

2.      Instruct students to take out the answers their parents gave regarding credit and interest.  If students do not have responses along, encourage them to listen carefully to their classmates responses.

3.      Make two big columns on the board.  One for benefits of credit and interest and the other for drawbacks.  Ask students to look at their comments, come to the board and write them under the correct column.

4.      Discuss the comments as a class to make sure all students understand what they mean.  For example, if one parent said interest and credit are dangerous because you can go deeply in debt, discuss this with the class.  Answer the questions 1) What does the parent believe about credit and interest and 2) Why do they believe that?  Do they give any reasons that help us understand their thoughts?

5.      Ask students to individually make a list of the points they most agree with.  Set this aside to be used later in the lesson.

Lesson Steps—

1.      Instruct students to take out their graphs and accounts receivable charts from lessons 1 and 2 and their math journals.

2.      Open the math journals to the last entry.  Re-read your definition of interest and credit.  If you have questions about it, please ask the teacher. 

3.      Write the following definitions for credit and interest on the overhead and show them to the class.  Credit is a loan (that must be repaid) of money or goods to a person.  Interest is the amount of money or goods charged for the use of credit.  Ask students for questions about understanding of the ideas.  For example, some students might need to know more about loans.

4.   Divide the students into groups of 4 (3 miners and 1 store owner). Look at the graphs and charts you have made of your transactions.  Discuss the following question in your group.  Is there a time during your trading when you might have used credit?  Why or why not?  Monitor group discussions. 

5.   Ask one person from each group to present their opinions to the class.

6.  Next ask them to discuss the question “If you had used credit, would you pay interest on the credit?  When?  Why or why not?”  Present these to the class as well.

7.  Make a list on the board of trading practices that take place today. Instruct students to think about their trading and compare it with the trading people do today.  What things are similar?  What things are different?  Make a list in your groups.  Put a check mark next to the things that people use credit for today and that you could have used credit for in your trading. 

8.  Think more about today’s business.  Add to your list all the things that you can think of that people use loans (credit) for.  For example, people use loans to start up businesses  Then answer the question “Was this necessary during the 1850s?”  Use any information you have learned during this unit.  In this case, people in the 1850s often used loans to start up businesses as well, although they were often from family members or friends, not banks.

9.  Set your lists aside for one more activity.  We will be using them again later in the lesson.  Take out your Bibles and look up the words usury (the same thing as interest), wages, and interest in your concordance.  Discuss the passages you find with a partner and then explain 3 of them in your own words.  The teacher should walk around the room and be able to answer questions.

Closure:

1.      Take out the lists you made of trading activities, your explanations of Bible passages, and your opinions about the parents’ perspectives, and any other materials you feel you might need from previous lessons.

2.      Pick up a piece of poster board or large construction paper and put your name on it.

3.  You are going to make a poster board advertisement persuading us that we should/should not use credit and interest.  Choose the position you agree with the most.  On your poster, you must include the following: 3-4 parent comments, what the Bible says, 5 ways credit and interest were used in the Gold Rush and today, dangers and benefits of using credit and interest, and your own decision about credit and interest (explain why you came to that decision).  List requirements for the assignment on the board.

** This assignment is not designed to bring about a particular conclusion.  Students should be able to critically evaluate the use of credit and interest and come to their own decision.  In other words, there is not a wrong answer in this assignment unless the above criteria are not met.
 

Basic- Advertisement for or against credit and interest
Extension- Learning center activities
 

Group participation and discussion.  Advertisement activity must include above aspects (Closure #3) and be neat and persuasive.