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Video topic block Inflation

Video topic block

Inflation

When money loses value: taking a closer look at price changes.

Overview

An educational video from the European Central Bank (ECB) explains the concept of inflation with a simple example. A short report from CNN also shows the consequences of hyperinflation for the population of Venezuela. The students dive deeper into the topic by means of a quiz and various tasks. An intro text provides background information.

Learning objectives

Students are able to…

… explain what inflation is and how it is measured.

… explain why low-income households are hit particularly hard by inflation.

… describe the dangers of hyperinflation.

… put changes in purchasing power into the context of wage and price developments. (LCS/DH)

… calculate the inflation rate from the CPI change. (KV/FVB/GYM)

… reproduce the historical development of the CPI and put it into context. (FVB/GYM)

… understand the current inflation situation and assess the associated inflationary trends. (FVB/GYM)

Didactics

Didactic notes

Notes for lesson preparation and for possible teaching scenarios using a video topic block in class.

Video

Price stability: Why is it important for you?

This animated video clip explains inflation quickly and concisely. It also shows the problems and dangers of high and unpredictable inflation.

Source: European Central Bank (ECB), Price stability: Why is it important for you? (6.1.2011, duration: 1min 51s), provided via nanoo.tv

Quiz

Inflation

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The quiz contains seven questions on the topic of inflation.
Note: Before you start the quiz, set a nickname.

Worksheet

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Worksheet A LCS/KV

Exercises on concepts related to inflation. Suitable for LCS/KV.

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Worksheet B FVB/GYM

Exercises on concepts related to inflation. Suitable for FVB/GYM.

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Sample answers Worksheet A LCS/KV

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Sample answers Worksheet B FVB/GYM

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Extras

Background information

Background information on the topic of inflation. The text uses the Swiss economy in the 1990s as an example to show the massive economic costs of an excessively high inflation rate.  

Credits – Inflation

Concept:
Iconomix

Videos: 

  • European Central Bank (ECB). Price stability: Why is it important for you? (06.01.2011)
  • Federal Statistical Office (FSO). The Consumer Price index at a glance (07.09.2023)
  • CNN. IMF: Venezuela’s inflation to hit 1,000,000% (26.07.2018)
  • The Economist. Is higher inflation cause for concern? (08.10.2021)

Provided via nanoo.tv, the Swiss video platform and online media library for schools.

Consultants:
Dr. Pascal Meichtry, Banque de France

Didactic consulting for worksheets:
Dr. Daniel Schmuki, Swiss Federal University for Vocational Education and Training, SFUVET

Background information:
Dr. Pascal Meichtry, Banque de France

Translation & proofreading:
SNB Language Services

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