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Prices Yesterday and Today
Subject
Math, History, Social Studies, Economics
Themes
Change, Technology, Economics
Resources
- Mail-order catalogues on this site
- Contemporary Sears catalogue (to bring in)
- Price conversion table (below)
Description
- Divide the class into groups of three or four students.
- Ask each group to select a historical catalogue from this site. The
students
must locate the catalogue on the site.
- Ask each group to create a catalogue order for ten items from their
selected
catalogue.
- Ask each group to convert its historical order into a contemporary
order.
Students must find an equivalent item in the modern Sears catalogue for
each
item on their original order. Calculate the cost of the entire order.
- Using the price conversion table, ask each group to determine the cost
of
the historic order in current dollars.
- How does the overall cost compare?
- Calculate the percentage increase or decrease.
- Repeat this activity for each item on the list, comparing the price of
each
item in current dollars.
- Which items increased in price the most?
- The least?
- Have any decreased in price?
- Ask each group to present its findings.
- Lead a class discussion about why prices change and what historical
events
account for the differences in the rate of change in various years.
Price Conversion Table
Use this table to compare catalogue prices to 2003 dollars. To compare
prices
to current dollars, use the full table provided at http://www.bankofcanada.ca/en/inflation_calc.htm.
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In 2003 you would need …
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$12.04
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...To match the purchasing power of $1 in 1918
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In 2003 you would need...
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$11.16
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...To match the purchasing power of $1 in 1926
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In 2003 you would need...
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$11.27
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...To match the purchasing power of $1 in 1929
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In 2003 you would need...
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$13.95
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...To match the purchasing power of $1 in 1936
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In 2003 you would need...
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$13.49
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...To match the purchasing power of $1 in 1939
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In 2003 you would need...
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$9.03
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...To match the purchasing power of $1 in 1948
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In 2003 you would need...
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$8.41
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...To match the purchasing power of $1 in 1950
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In 2003 you would need...
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$7.31
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...To match the purchasing power of $1 in 1956
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In 2003 you would need...
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$6.57
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...To match the purchasing power of $1 in 1962
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In 2003 you would need...
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$5.79
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...To match the purchasing power of $1 in 1967
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In 2003 you would need...
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$3.69
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...To match the purchasing power of $1 in 1975
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Source: Bank of Canada Inflation Calculator
http://www.bankofcanada.ca/en/inflation_calc.htm.
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Date Created: December 10, 2004 | Last Updated: October 22, 2009
