Innovation iNSPIRED: Architect of the American Dream
Although the early United States was very unstable and unable to pay its debts after its independence was won, Alexander Hamilton’s ambition was to get this county off to a good start. Different from the other founding fathers, Hamilton was born into poverty, orphaned, lived an urban lifestyle, and owned no land. His extraordinary intellect attracted the attention of high-ranking officers during the revolution, including one George Washington.
As our first Secretary of the Treasury, Hamilton understood the necessity for fiscal discipline. He established the national debt and the nation’s first central bank which gave us a steady and dependable money supply. Although more than 200 years ago, the guidance he provided still serves as a foundation of our economy today.
Alexander Hamilton’s American Dream
This mini-lesson is part of the Economics Arkansas iNSPIRE series and can be used to start a class on several related topics including fiscal policy, taxes, or credit cards. The included activities will help your students identify the role that debt and credit play in our lives as well as in the lives of businesses and nations.
Concepts
- Credit
- Credit Rating
- Debt
Learning Objectives
Students will be able to:
- Discuss how DEBT serves as a financial tool within an economy.
- Demonstrate how the 5 C’s of CREDIT are used when evaluating a loan request.
- Identify the five contributors to FICO’s CREDIT RATING system.
About iNSPIRE
The free-enterprise system has enabled countless individuals to realize their ideas for the betterment of many. Their entrepreneurial success - and the economic system that made it possible - is inspiring. In 2018, Economics Arkansas partnered with Stephens Inc. to develop lessons and lesson plans about our free-market economy based on the video series "This is Capitalism."
Developed in partnership with Economics Arkansas by James Wilcox, director of the Center for Economic and Entrepreneurship Education at The University of Southern Mississippi, these lesson plans are available for previewing and downloading at no charge on the Economics Arkansas website.
