The Problem with Modeling Current Events #Teach180

Today in AFM we started contextualizing the modeling task we will be working on for the next week: The Economic Crisis in Venezuela.

I found videos and articles to explain the Geo-political history that got us here, and made points to parallel what’s happening now with all the other times economies have raised and fallen throughout the world (USA, Japan, Hungary, and Germany just to name a few). Today was a helpful moment for students to grasp the severity of the impacts of the hyperinflation.

The plan was context today, next class research prices and see how much food and goods you could afford on the Venezuelan monthly Minimum Wage (~$12)so we could see how that wage changes if inflation continues to rise along its current path.

I ran out of time today to do some research before class started and said, offhandedly, something along the lines of “well as long as nothing drastic happens between now and Thursday we can pick up with the modeling.”

Then I checked twitter:

Well, the good teacher news: my kids are aware of what’s happening in the world.

The bad teacher news I think this announcement will change our predictions on how the economy is changing…

On a related note: sending vibes to the people of Venezuela. I hope that tomorrow’s marches are peaceful.

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