aidemia--modules-lessonstartideas_type	Give a creative idea how to begin a lesson
Which subject	Economics
What age group	Year or Grade 11
What topic	Interest rates
Quantity	1
Any other preferences

Lesson Introduction: The World of Interest Rates

Welcome to Economics!

G’day, class! Today we’re diving into the intriguing world of interest rates. Before we jump into the theories and graphs, let’s kick off our lesson with an engaging scenario that’ll get you thinking about money, decisions, and the choices we make every day.

The Chocolate Dilemma

Imagine it's a sunny afternoon in a bustling local café in Melbourne. You’ve got $100 in your pocket and, sensing a craving, you stroll up to the counter. Now, here’s the twist: the café offers a deal that’s too sweet to ignore.

Two Options:

1. Pay Now: You can buy a delicious chocolate cake today for $100.
2. Pay Later: The café has an enticing offer: if you pay $100 today, you get to take the cake home immediately. However, if you choose to pay in a month, the price will rise to $105 due to a special interest rate applied.

The Choices

• If you pay now: You get your cake immediately, satisfying your craving without waiting.
• If you wait a month: You’ll need to pay an extra $5, but maybe you can save that money and invest it elsewhere for a potential return.

Questions to Ponder

• What would you choose and why?
• How does the concept of interest rates play a role in your decision-making?
• How might this scenario change if you were considering a larger purchase, like a car or a home?

Transition to Learning

This delicious dilemma sets the stage for our discussion on interest rates. Today, we'll explore how interest rates affect not just dessert decisions but also major financial choices in our own lives and economies.

Are you ready to unwrap the mysteries of interest rates? Let’s get started!