Keeping It Real: Teach ACRL Information Literacy Frames with FRED

Abstract

Lesson Description NOTE: This lesson supplements the “FRED® Interactive: Information Literacy” online lesson available through www.econlowdown.org, which needs to be completed by students individually prior to this lesson. In the lesson, students first review a graph made in the “FRED® Interactive: Information Literacy” online lesson and define the concepts nominal, real, and inflation. They then learn about basic strategies for establishing the reliability of a data source. Next, students build on the skills learned in the online lesson to create new graphs and then discuss the new information created as a result of their work. There are two options for creating the new graphs: With Option A, students work in FRED® and use the formula real = (nominal/CPI)*100 to plot inflation-adjusted minimum wage rates for two states and compare the results. With Option B, students work in FRED® to plot and compare nominal and real earnings differentials for men and woman.