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The Big Mac Index
Source: Council for Economic Education (EconEdLink) | Type: Lesson
How fast can you say "twoallbeef-pattiesspecialsauce-lettucecheesepickles-onionsonasesameseedbun?" This question was asked of millions of TV viewers in the now famous 1970s McDonald's television commercial promoting the Big Mac.
Grades:
Concepts:
- Characteristics of Money
- Currency
- Exchange Rate
- Price
Standards:
- Economics 7: Markets - Price and Quantity Determination
Related Resources:
Reviews
Not only do students learn about purchasing power and exchange rates but they get to use something they are all familiar with--the Big Mac. That makes it a fun assignment for students.