Elfi Funk: Inflation lesson begins with candy auction

Teacher Elfi Funk plays an inflation game in her class where she auctions off an item of candy in three different rounds using beans and noodles as the currency. The price of the candy rises in each round as does the amount of currency they receive.

“They learn about money – what gives the beans and noodle value – and when it is inflationary,” explains Elfi, who has been teaching economics in Gwinnett County since 2005.

In between each round, students calculate the inflation rate. “By using a hands-on approach, students can better understand the concept of inflation and what it means as a consumer.”

This activity is one from Virtual Economics 4, an interactive DVD provided in a workshop by the Georgia Council that has teaching tips and activity-based lesson plans for more than 51 economic concepts and principles.

“That disk is my lifeline,” Elfi says. “I look through it all the time and I can always find something that pertains to what I’m teaching.”

If you'd like to learn more about Virtual Economics 4, contact the Georgia Council. GCEE also offers workshops to support the inventive teaching methods featured in the interactive DVD — just like the ones Elfi Funk uses.