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Upon entering the History of Magic classroom, you’ll notice that it looks the same as ever minus a few minor changes. Holden’s desk has three boxes (all varying in size, shape, material, and colour: gold, silver, and lead - perhaps an homage to Holden’s favourite Shakespearean play) The Professor himself stands next to the chalkboard with a message written in chalk. Fortius Quo Fidelius. For those familiar with Latin, this may be a more obvious hint to what they would discuss in today’s lesson. Below those words are instructions: “Take a seat, class, and start working through the crosswords on your desk”
SPOILER!!: Crossword
INSTRUCTIONS: Use the clues to fill in the words above. Words can go across or down. Letters are shared when the words intersect. For longer answers that have multiple words, there are no spaces in between.
ACROSS
1. A gold coin equivalent to 493 Knuts
3. A musical song with the lyrics: "I work all night, I work all day to pay the bills I have to pay"
5. A form of wizarding currency. Burgock (A Goblin) was allergic to this coin's material
6. These magical humanoid creatures speak Gobbledegook and are adept metal smiths notable for their silver work
7. Made out of silver and equivalent to 29 Knuts
DOWN
1. The goblin and founder of a very important Wizarding Bank in the UK
2. Chief of the Wizards' Council who attempted to define all magical creatures as either a Being or a Beast
4. A plant used as currency many moons ago
"Today's lesson is about... drum roll please...." He flicked his wand, queuing the drum kit in the corner to start a steady roll. "Wizarding Economics." He paused for a reaction before continuing. "Let's talk money! This class is going to be different today. Each question or activity will earn you a Holden Knut. Based on the number of Holden Knuts you earn, you will be able to select from the THREE prizes on the desk in front of me. They are contained in the boxes here."
"Because you are all here and present, you will automatically receive one Holden Knut. For those who completed the crossword, you will also get one. For those who answered the question, you will get another. Makes sense?"
Blue eyes glanced around the room, scanning for any looks of confusion and hands raised with questions.
"Fantastic. Let's talk about currencies both Muggle and Magical. Can you name a past or current Magical or Muggle currency? Feel free to include a fact too, yes?" he asked, pausing to look for the first hand that he saw. Hint.. Hint... the crossword contained several answers pertaining to this question.
— OOC: Second question is up. WHAT AMAZING CREATIVITY Y’ALL. You had me cackling a lot at the answers. I really want a lesson on the Order of the Badger now
So there are PRIZES that students can trade their coins in for at the end of the lesson. Each question that a student answers will automatically earn a Holden Knut. A Holden Knut is larger than a normal Wizarding Knut; however, it is made out of bronze clay. The design itself contains a portrait of one of the Professors at Hogwarts.
The prizes are:
a bag of freshly purchased Honeydukes candies
a collection of books and magazines
a mixtape containing songs about money
and a mystery box (which remains hidden at this time )
You'll have 24 hours before we move on!
Holden knuts! They could earn prizes like a bag of honeydukes candies for answering questions and participating in the activities. Bella was going to take part regardless in the lesson, but now she and others got an incentive to try a little extra. She had guessed correctly the lesson was going to be about money or to be correct magical & muggle currency. At the next question Bella's hand shot up almost immediatley. "My mother works as an ambassador and she has said that Norway and Sweden use a muggle currency called crowns which are similiar to our galleons, knuts and sickles. They have banknotes also for example hundreds and fivehundreds." Taking her hand down Bella hoped that they weren't going to be counting coins because that wasn't her specialty.
Sadly it wasn't long before Professor Holden said the dreaded words. He wanted them to do maths and convert galleons and knuts and sickles. Bella immediatley wanted to sink through the floor. Could she leave now? She had never been any good at counting math in her head and now she had to do it with big numbers too. Looking around herself Bella wondered if she could ask a fellow student to do the work with her. Professor Holden hadn't said that they couldn't partner up for this activity.
Taking up a new parchment very reluctantly Bella figured that she at least could give it a try. If she got everything wrong then she'd at least get a knut for participating and giving the math a shot right?
SPOILER!!: Bella's notes
I want you to know Professor H that math isn't my strong suit so if I get the numbers wrong I hope you won't be too displeased.
Activity 1. Convert sickles into knuts. Bounty on Sirius head - 10.000 galleons
17 x 10000 = 170,000 knuts = 493 x 10000= 4 930 000 knuts (blinks so much money for finding and killing a man.....)
2. Convert to knuts: Moontrimmer Supreme - 196 galleons and 6 sickles
493 x 196 = 96,628 knuts = 29 x 6 = 174 knuts ( I want a new broom... Is the moontrimmer fast?)
3. Convert to knuts and galleons. 25 Bertie Bott's Every Flavour Beans - 8 sickles per packet.
29 x 8= 232 knuts (per packet) = 232 x 25 = 5 800 knuts = 0.05 x 8=0.40 galleons = 0.40 x 25 = 10 galleons (*blinks several times* My head is spinning how much more shall i count before i'll just see knuts and galleons everywhere?)
4. Convert to Sickles and Knuts: Triwizard Tournament Winnings-1,000 galleons
17 x 1,000 = 17,000 sickles = 493 x 1,000= 493,000 knuts (Can we have a Triwiztournament again at Hogwarts? It'd be so cool if I could place my name in the cup)
5. Convert to knuts: Ron Weasleys Family Newspaper Prize - 700 galleons
493 x 700 = 345,100 knuts (Can't we just have galleons or knuts? It'd be easier)
6. Convert to sickles: Mr Weasleys fine for the magical car being spotted- 50 galleons. 17 x 50 = 850 sickles (so many sickles...my witch weekly costs sickles too i think.)
7. Convert to sickles and knuts: Explosive Enterprises - 150 galleones
17 x 150 = 2, 550 sickles = 493 x 150 = 73, 950 knuts (Thank merlin that I've done all the math tasks...I'm exhausted)
catchup. Also, if anyone wants to be our neighbor :3
YesJess! | Captain Goggles | Mama Badger | Eva's Soul Sister | An OG™ | It's all in the Numbers
Apollo was very much ... present, mostly of habit because he'd been taking History of Magic for the last four years, grateful his mum's schoolmate was still teaching them. He was also looking forward to this year because OWLs which meant the possibility to decrease some of his load. He definitely took note of the Latin phrase on the board as well, though his brain fog was allowing him to only recognize the last word - fidelius - from the fidelius charm, which meant to keep things safe and guarded.
Text Cut: Crossword Catchup
ACROSS
1. A gold coin equivalent to 493 Knuts GALLEON
3. A musical song with the lyrics: "I work all night, I work all day to pay the bills I have to pay"
5. A form of wizarding currency. Burgock (A Goblin) was allergic to this coin's material KNUT
6. These magical humanoid creatures speak Gobbledegook and are adept metal smiths notable for their silver work GOBLIN
7. Made out of silver and equivalent to 29 Knuts SICKLE
DOWN
1. The goblin and founder of a very important Wizarding Bank in the UK GRINGOTTS
2. Chief of the Wizards' Council who attempted to define all magical creatures as either a Being or a Beast
4. A plant used as currency many moons ago
He looked around helplessly to see if Maya or Bella maybe got more of the crossword completed. He definitely needed more review cause at this rate he was barely going to scrape an dreadful on his OWL.
Moving on from the crossword though and onto today's lesson, Apollo took note of the three boxes near Professor Holden but decidedly ignored that question. He had been at Hogwarts long enough to know that Professors never really made it easy for these guessing games, so why bother? What did Fortius Quo Fidelius mean? He reverted back to his knowledge about the Fidelius Charm and decided it meant something to do with guarding secrets. Some of his classmates mentioned about strength through loyalty, which made sense in his fidelius charm knowledge. Actually, props to Jasper Botros because if there was food in one of the boxes, he would definitely be down for that. He grinned at his U-17 teammate; the dude definitely knew what was up.
As far as currencies, well there was the obvious wizarding ones. Also Holden Knut, but that was already mentioned. And so were a lot of the ones that he knew about, so instead, Apollo offered a deeply political and possibly controversial statement, "Money is set up by the government as a method of controlling us. It is the root of all evil, as super rich people use their material wealth to get away with wrongdoings."
WAIT. THE NEXT PART INVOLVED MATH?!?
He frowned and wrote down the conversion rates and problems in his notes, and looked around. Could they maybe work with a partner because that would be a whole lot more efficient?
Activity
1. Convert to Sickles and Knuts: Bounty on Sirius's Head- 10,000 Galleons 10,000G = X Sickles
1G = 17 Sickles
17x10000 /1 = 170,000 Sickles
170,000S = x Knuts
1S = 29 Knuts
170000 x 29 /1 = 4,930,000 Knuts
2. Convert to Knuts: Moontrimmer Supreme - 196 Galleons, 6 Sickles 196G = x Knuts
1 G = 493 Knuts
196x493 = 96,628
6S = x Knuts
1S = 29K
6x29 = 174 Knuts
96,628 + 174 = 96,802 Knuts
3. Convert to Knuts and Galleons: 25 Bertie Bott's Every Flavour Beans - 8 sickles/packet
4. Convert to Sickles and Knuts: Triwizard Tournament Winnings - 1,000 Galleons 1000 G = x S
1G = 17 S
1000x17 = 17,000 Sickles
1000 G = x Knuts
1G = 493 Knuts
1000x493 = 493,000 Knuts
5. Convert to Knuts: Ron Weasley's Family Newspaper Prize - 700 Galleons 700G = x Knuts
1 G = 493 Knuts
700x493 / 1= 345,100 Knuts
6. Convert to Sickles: Mr Weasley's fine for the magical car being spotted- 50 Galleon 50 G = x Sickles
1 G = 17 S
50x17 / 1 = 850 Sickles
7. Convert to Sickles and Knuts: Explosive Enterprises – 150 galleons 150G = x S
1G = 17 S
150x17 / 1 = 2550 Sickles
150 G = x Knuts
1 G = 493 Knuts
150x493 /1 = 73,950 Knuts
He stared at his work, also in confusion number three. And blinked, were they supposed to convert to using a combination of sickles and knuts?? OR just purely sickles? And then another for purely knuts? It wasn't really clear, but doing only one coin type was definitely the easier of the conversions, which is what Apollo opted for. The packets though in number three was confusing, and the fifth year found himself whispering to his neighbor to get their attention.
__________________
___________________You should take your littlefinger and just point it in the mirror. ________________________________________Baby, maybe you're the problem✯
Kimothée Chalamet • The UWU Agenda • Once Baby, Now Trouble • All Growed Up
Of course, Yukie knew she made a good point, which is why she went for the trade. And she got it. The Hufflepuff continued smiling, even after she received her newly-earned Holden knut and examined it. She then flashed a pretty grin at Professor Holden as her way of saying thanks. This was her Holden knut now, thank you very much!
Though Yukie wasn't too bothered about the conspiracies against Hufflepuffs yet (but she would have been upset if it kept going though so thankfully it died down as soon as possible) she was glad to have Mercer's hand in hers for that moment. The littlest Rasting reminded herself that he's probably just joking and that it was all fun and games. They were still friends and if anything, Yukie the Hufflepuff will not overfeed her friends with pudding. Only cookies, but that's besides the point. So she gave Mercer's hand a gentle squeeze.
The mini activity wasn't really Yukie's cup of tea. Numbers were important, but those on the board were a lot and she found herself rather intimidated by the many digits in front of her. Yukie wasn't bad at math or conversion, as she could do so decently with practice and also, baking had its measuring conversion too. They weren't at all different. As a compromise, Yukie decided to just pick which ones to solve because she took pity in her brain and calculators would solve these problems faster than she could anyway. And then she'd zone out again and dive into her world of little doodles.
Her next task was to convince Professor Holden to let her have a Holden galleon. Where was she to get 493 Holden knuts for this, though??
3. Convert to Knuts and Galleons: 25 Bertie Bott's Every Flavour Beans - 8 sickles/packet
1 sickle = 29 knuts = 0.05 galleons
8 sickles = 232 knuts = 0.4 galleons 232 knuts or 0.4 galleons for 1 packet of Bertie Bott's Every Flavour Beans
4. Convert to Sickles and Knuts: Triwizard Tournament Winnings - 1,000 Galleons
1 galleon = 17 sickles = 493 knuts
1,000 galleons = 17,000 sickles = 493,000 knuts 17,000 sickles or 493,000 knuts for the Triwizard Tournament Winnings
5. Convert to Knuts: Ron Weasley's Family Newspaper Prize - 700 Galleons
1 galleon = 493 knuts
700 galleons = 345,100 knuts 345,100 knuts for the Weasley Family newspaper prize
7. Convert to Sickles and Knuts: Explosive Enterprises – 150 galleons
1 galleon = 17 sickles = 493 knuts
150 galleons = 2,550 sickles = 73,950 knuts 2,550 sickles or 73,950 knuts for Explosive Enterprises
Too long, didn't read: a lot of coins!
__________________
It's so magical, feeling that no one's got a hold_______________________________ ___________________________________And the whole wide world is whistling...
Lily huffed and began to carefully write down her equations on her notepaper and groaned under her breath. Math wasn’t her thing in the least – animals, cute fuzzy things – and being perpetually grumpy without realizing it were though. If she could just not do math that would be wonderful. ”i think i did this wrong” she murmured to herself as she scratched out some of her work and re-did it.
It was bound to happen more than once. The erasing and re-writing – it was what she did with math. Dreadful as it was she knew somehow that it would be important for OWLs or just y’know for having a bank account of her own in the future.
SPOILER!!: notes
notes on currency x Caribbean countries use the eastern Caribbean dollar – mid 1900s x USA paper money & coinage x goats x barley – shekel – minas x souls (???) x goods x nifflers fancy x answers x bezant x French franc & nouveau franc x euro (pounds!!) x large stones – quite inconvenient x holden knuts
holden knuts
tally 10 x one for attendance (+1) x one for the box question (+1) x missed forties quo fidelius x one for crossword (+1) x one for magical currency question (+7) x one for activity question one
conversion rates x 1 knut = 0.03 sickles = 0.02 galleons x 1 sickle = 29 knuts = .05 galleons x 1 galleon = 17 sickles – 493 knuts
activity x convert to sickles & knuts: bounty on Sirius’ head – 10,000 galleons _xx 10.000g = 17 sickles = 1g so 10,000 x 17 = 170,000 sickles 10,000 x 493 = 4,930,000,000 knuts x convert to knuts: moontrimmer supreme – 196 galleons, 6 sickles _xx 196 x 493 = 96628knuts ... 6s x 29 = 174.00 = 96628 + 174= 96802 x convert to knuts & galleons: 25 bertie bott’s every flavour beans – 8 sickles a packet _xx 25 packets – 8 sickles per packet = 200 sickles - 29 knuts – 1 sickle ... 200 x 29 = 5800knut – 1g = 17 sickles or 493 knuts – 5800/493 = 11.76 = 11 galleons 377 knuts x convert to sickles & knuts: Triwizard tournament winnings – 1,000 galleons _xx 1000 x 17 = 17,000 sickles 1000 x 493 = 493,000 knuts x convert to knuts: ron weasley’s family newspaper prize – 700 galleons _xx 700 galleons x 493 – 345,100 x convert to sickles: mr weasley’s fine for the flying car being spotted by a muggle – 50 galleons _xx 50 g x 17 = 850 sickles x convert to sickles & knuts: explosive enterprices – 150 galleons _xx 150g to sickles = 150 x 17 = 2,550 s – 150g x 493 = 73950 knut
__________________
IT'S NOT AN ACT OF LOVE __________________________________________________ ___________ ____________
IF YOU MAKE HER ____________
Last edited by itsjustjesse; 05-12-2022 at 09:30 PM.
Reason: editing the coding in the textbit
Phoenix had really hoped to hear stories about some ancient wizarding battle when he came into class today, but hearing that the topic of class would be wizarding economics wasn't too surprising given the preliminary crossword activity. It felt a liiiiittle dry though and the questions to the activity tedious, but Phoenix did like a good challenge, especially when prizes were involved. He was a little confused about the crossword puzzle though. He'd gotten some of the answers, though was stuck on some of the others. He would have preferred to keep working on it, but Holden did say that the answers would show up which made him disinterested in continuing at that point. So... would he still get a Holden knut for his attempt before the answers appeared?
He thought about asking but then decided it wasn't all that important anyway as class moved on and he redirected his focus. While the question posed seemed to be a simple one, Phoenix did not know an answer beyond the ones already offered, which mildly disappointed himself, and he certainly did not know a fun fact about currency. Currency had always seemed a bit straightforward to him, but perhaps he should have delved beyond the surface. His lack of contribution was a little embarrassing.
Wait... were souls used as currency? Phoenix peered at his housemate curiously a moment, until Holden confirmed that they could be used in bartering with dark wizards. Huh. That was remotely interesting and so was whatever his housemate was drawing... he couldn't quite see from where he was sitting... but his attention was once again refocused as Holden explained the activity.
Oh. Math. Phoenix could do math well enough, but he didn't find it all that interesting. Not as interesting as the stories behind what they were trying to convert - the bounty on Sirius' head, for example. He'd rather hear the story than do the math, but it didn't take him too long to scribble out the conversion on his parchment. 10,000 galleons equaled 170,000 sickles or 4,930,000 knuts... or did he want a combination of sickles and knuts? He knew both numbers so instead of overthinking it, Phoenix moved on to the next problem.
__________________
started like a knight in a fairytale_______________________________________________
ended like a moth in flames______________________ ______________________don't you worry I'll be fine _________________________________________________you were good for the plot line
Rhibear ~ Madam Solo ~ Dark Brooding Girl ~ Accio Jedi ~ Gryffinclaw ~ Just a doll
Desiree practically beamed at Professor Holden, her face turning the same shade of pink as her hairclip. He spoke French?! How did she not know? Asdfjkl so cool! Best day ever! She was so excited that she had a hard time concentrating long enough to copy down the list written on the board, but somehow she forced herself. Could she have a Holden knut for that, please? Cue the puppy dog eyes.
Blue eyes glanced up as Holden explained the activity, and the excitement immediately faded. They had to do math now? Desiree frowned slightly. She had a feeling she was going to get the answers all wrong! Then she wouldn’t get any Holden knuts for her work, and she really would be the only one without a prize at the end of class! She couldn’t let that happen!
Desiree looked at the board, and all those numbers made her brain go O_______O. Seriously, where was Adam when she needed him?! Her brother was the math whiz of the family, but alas, he wasn’t here to help her. Why did he have to be homeschooled? Looked like she was on her own for this one! A look of determination crossed her face as she copied down the activity and the conversion rate. At least she wouldn’t have to do that part herself! She probably would’ve failed miserably at figuring out the conversions, and then her answers would be all wrong!
She looked at the first question. So to get sickles, she should multiply 10,000 by 17, and for knuts multiply by 493? Was that right? She wasn’t sure, but the answer she came up with looked like it made sense. The next question made her giggle a bit. What a funny name for a broom! “Moontrimmer Supreme” sounded like a character in her brother’s favorite comic book! Never mind… So for this one, she was supposed to multiply 196 by 493, then multiply 6 by 29 and add the two results together for the grand total of knuts? She scrutinized her work. Was that anywhere close to correct?
The next question got a whole lot harder! So for this, she needed to multiply 8 by 25 to get the grand total of sickles. The sickles to knuts conversion wasn’t that hard… just multiply that result by 29, right? But to convert the sickles to galleons, she had to divide by 17 this time?! That result gave her a really looooooong number! Nope, she was not writing down allll those numbers! So she rounded it at the second place after the decimal.
By the fourth question, Desiree was starting to get the hang of the conversions. 1,000 galleons to sickles and knuts? Easy! Just multiply by 17 and then 493. As her blue eyes scanned the remaining three questions, she was pleased to see that there were no more division problems. She breezed through the final questions, setting her pink quill down as she finished.
SPOILER!!: Desiree’s notes
1. Convert to Sickles and Knuts: Bounty on Sirius's Head- 10,000 Galleons
10,000 x 17 = 170,000 sickles
10,000 x 493 = 4,930,000 knuts
2. Convert to Knuts: Moontrimmer Supreme - 196 Galleons, 6 Sickles
196 x 493 - 96,628
6 x 29 = 174
96,628 + 174 = 96, 802 knuts
3. Convert to Knuts and Galleons: 25 Bertie Bott's Every Flavour Beans - 8 sickles/packet
8 x 25 = 200
200 / 17 = 11.76 galleons
200 x 29 = 5.800 knuts
4. Convert to Sickles and Knuts: Triwizard Tournament Winnings - 1,000 Galleons
1,000 x 17 = 17.000 sickles
1,000 x 493 = 493,000 knuts
5. Convert to Knuts: Ron Weasley's Family Newspaper Prize - 700 Galleons
700 x 493 = 345,100 knuts
6. Convert to Sickles: Mr Weasley's fine for the magical car being spotted- 50 Galleon
50 x 17 = 850 sickles
7. Convert to Sickles and Knuts: Explosive Enterprises – 150 galleons
150 x 17 = 2,550 sickles
150 x 493 = 73,950 knuts
__________________
Old voices I had thought long since dead whisper of another life I might have led If I could take that second chance, If I could make my life anew, If only dreams came true...
4. 1,000 Galleon Conversion to Sickles and Knuts:
1,000 Galleons x 17 Sickle/Galleon = 17,000 Sickle
1,000 Galleons x 493 Knuts/Galleon = 493,000 Knuts
5. 700 Galleon Conversion to Knuts :
700 Galleons x 493 Knuts/Galleons = 345,100 Knuts
6. 50 Galleons to a Sickle:
50 Galleons x 17 Sickle/Galleon = 850 Sickles
7. 150 Galleons to Sickle and Knuts:
150 Galleons x 17 Sickle/Galleon = 2,550 Sickles
150 Galleons x 493 Knuts/Galleon = 73,950 Knuts
Simon walked around the classroom, observing the students at work. For those working on the questions, he had already determined that he’d give them a Knut. For those who answered correctly, they would get an additional Kunt.
He paused, fished for his pocket watch, and pulled it out to check the time. Five more minutes needed….
He tapped his wand against the chalkboard and the answers appeared. “Here are the answers! Since this class is not a mathematical one, you will all receive one Holden Knut for attempting. If you did get answers right, add another one, okay?”
Time to shift gears.
"Now… those were the cost of items back then… but question for you all. Do we think the cost of the historical items would be the same today as it was back during Harry Potter's time? What is inflation? Why does it happen? And how does inflation impact economies?" He paused, looking around the room.
OOC: Next question is up and it’s about INFLATION! I felt like it was important to teach Wizarding Economics based on what we’re seeing OOC to make a fun compare/contrast moment. I’ll give you 24 hours before we move on.
Made of Awesome | Ern-la the Best-wa | TZ's Apogee
Mercer muddled over his maths, somehow managing to get ink on all his fingertips as he worked. Why was it that his quill seemed to be spontaneously producing ink somehow? He was mostly done with the conversion, and then the curls of Milo emerged from under the table. Hey. Where did he come from?
"Currency. Currents, see? What if money was made of water? Or jam? I would eat it all, probably," Mercer wasn't able to process the idea that math was bad, because it was a safe little spot in his brain at the moment. So he was talking about jam instead.
His attention was caught by Holden, who did NOT seem worried that Milo was crawling around on the floor, using their legs like a passageway. "Inflation is what balloons do, yeah? But I suspect that Sirius Black's head would be worth a lot less today than back then, on account of it's just a skull now and all the skin and bits have come off. Unless you're fond of skulls, I suppose."
1. Convert to Sickles and Knuts: Bounty on Sirius's Head- 10,000 Galleons 4,930,000 Knuts, 170,000 Sickles
2. Convert to Knuts: Moontrimmer Supreme - 196 Galleons, 6 Sickles
[b]96,802 Knuts
3. Convert to Knuts and Galleons: 25 Bertie Bott's Every Flavour Beans - 8 sickles/packet 232 Knuts, 0.4 Galleons
4. Convert to Sickles and Knuts: Triwizard Tournament Winnings - 1,000 Galleons 17,000 Sickles, 493,000 Knura
5. Convert to Knuts: Ron Weasley's Family Newspaper Prize - 700 Galleons 345,100 Knuts
6. Convert to Sickles: Mr Weasley's fine for the magical car being spotted- 50 Galleon 850 Sickles
7. Convert to Sickles and Knuts: Explosive Enterprises – 150 galleons 2,550 Sickles, 73,950 Knuts
Violet sat back and folded her hands after completing the assignment. She was usually good at maths, but she liked it to be put to some practical use. Theoretical number problems bored her.
Finally the class moved on. Inflation! Violet had heard her Grandfather grumble about it, usually in a conversation with her Uncle Hamlet about proposed increases in his allowance, but Violet wasn't really sure what it was. Well--inflate meant to blow up, as in make bigger. So her guess would be... "Is it when prices for things get bigger?"
Finn was greatly displeased when Holden announced they were doing currency conversions. Which was just a fancy word for arithmetic. Which was not history, magic or otherwise. He wrinkled his nose but scratched some numbers on his parchment. Bertie Botts were 8 sickles per packet...times twenty-five for that many packets of beans...that was...that was...200 sickles?? He frowned. Then if one sickle was 0.05 Galleons...that was 5x200...1000...divided by ten? He ended up with 10 galleons for 25 packets of Bertie Bott's Every Flavour Beans. He thought that might be a good deal, if you liked every flavour of bean.
As for the bounty and the broom...Finn found that converting from galleons to the others was a lot easier. Maybe everything should be priced in galleons. Wouldn't that make everyone's pockets lighter and shopping easier? He glanced over at Matilda's work to see if her numbers were the same.
And then they were moving on, and a first year was talking about balloons. Finn wished they had balloons. He heard one of the older students saying that inflation was prices getting bigger, so he raised his hand. "If prices get bigger, wouldn't that mean you can't buy as many things? So...you'd have to share Bertie Bott's with your sister, instead of each getting your own?" Though if it only meant sharing Every Flavour Beans, that would be okay, since different people liked different flavours anyway.
Evan had been trying to work on the conversions, he really had. But he'd actually gotten so distracted he'd managed to make a mess of all of his equations and had to start over. Pushing the wrong answers to the side, he was just about to get started from scratch when Holden announced it was time to move on with the discussion. He couldn't help a small sigh that escaped, merely because he didn't like leaving things unfinished, and yet there was also a portion of him relieved he wouldn't have to try again and risk frustrating himself even further.
So.. redirect time. Inflation, was it? Knowing next to nothing about previous wizarding economics, Evan didn't have much to say in regards to if the prices of things had fluctuated or would be similar to what they were in the past. Did the wizarding economy experience inflation? Did the value of the coins they used as currency change or was it a constant? He was interested to hear the discussion from his peers regarding that. In the mean time, he could offer response on other questions. His muggle school in the States had done a very brief introduction to economics before the Nam family had moved, and given Evan was... well, Evan, he'd read further on it for fun later.
He raised his hand and waited for Holden to call on him before offering what he knew. Or... what he thought he understood about it. "Inflation is the increases in prices of goods and the simultaneous decrease in the value of currency. It generally occurs because there is a influx in demand of products, which allows companies to raise the prices which then ripple effects to the rest of the market. Sometimes the price increases can also be due to decrease in availability of product needed to make something a consumer wants. Like if there was a wood shortage, building a house from the ground up would be more costly than it would if there was an abundance of material." He decided he'd already spoken enough and would leave the other question.
__________________
_________ _________________________________________ღღღღღღღღღღ
Let them point and laugh at who we are, it's you and me here dancing from the start
~ Mrs. Steve Harrington ~ It be like that sometimes.
Jude was legit surprised. He’d only gotten one wrong? He stared blankly at the answers Holden had written. He still felt… neutral? Like… he should be pleased that his attention span could still work long enough for him to compute numbers and should take this as encouragement as a sign he had completely not slipped into a void. But… yeah.
Anyway. That meant he had a total of FIVE Knuts now - two additional for an attempt and having right answers. “What Evan said,’’ Jude replied, left hand halfway up again. “People may still want to build houses even with a shortage of wood, and their willingness to pay the increased prices can cause inflation.”
Kimothée Chalamet • The UWU Agenda • Once Baby, Now Trouble • All Growed Up
So she got most of her answers correctly, even if the one about the flavoured beans was wrong but she was ALMOST there. Yukie was happy with herself either way, and she placed little stars beside each conversion problem she solved on her parchment. With Professor Holden's annoucement, it also meant she earned yet another Holden knut to her stash and that pleased her greatly. She tapped her pointer fingers together in a miniature applause.
Unfortunately, Yukie hadn't a clue what inflation was in economic terms. One could even see it in her eyes that she was lost. Mercer's contribution to the topic was a bit funny, but she wasn't interested in how much Sirius Black's head would be or what it would be made of. That's kind of morbid. But then the older Ravenclaw over there shared so much about inflation, it seems, and that interested Yukie. She wasn't interested in inflation itself, but how the older student just knew so much about it. What a genius. Ravenclaws were always so very smart. Sadly, she still didn't understand anything nor did she process what inflation truly meant even in the words of a fellow student, so she sat there quietly. More doodles to her parchment were in the making.
The only inflation Yukie knew of? When cakes and cookies doubled in size. That's the inflation Yukie was interested in. The edible kind.
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Summer had struggled with the second question and the mini activity, that the Professor had set, but now she was going to try and answer this question, it was a tough one for her second-year brain but she would try anyway.
Summer raised her hand and waited for the Professor to call on her before she spoke. "Professor doesn't inflation happen when something major happens, so like when the second wizard war happened inflation could have shot through the roof, but then when it ended it might have stabalised a little bit?" Summer thought it was worth a guess.
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Lucia Laporte sat quietly at the back of the classroom. Around the margins of her parchment, she'd doodled the names of the currencies on the board in her best calligraphy. Her crossword had been discarded almost immediately, though throughout the lesson she had added her own words to it, trying to make it work by herself. She had been in the process of trying to change the word 'lira', the currency she'd thought of, into an ambigram as the rest of the class worked on arithmetic. Her own answers had been filled in with great care, and she had enjoyed adding flourishes to her numbers. Zeros were particularly fun, and there had been many of them.
The fifth year looked up when Professor Holden moved them to the next section of the class. Her brows furrowed a little, considering inflation. Considering her great uncle never spoke of it with nice words, Lucia had deduced it was likely a bad thing. That seemed to go along with the other students' answers. Hmm. "Gold.. is resilient. All precious metals are, during inflation," she spoke softly, her hand half raised. It wasn't a direct response to Professor Holden's question, but it was good enough for Lucia. She went back to her efforts on the lira.
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Desiree had finished her calculations just in time. She looked up as the correct answers appeared on the board, checking her work against the answers. Well, what do you know? She got the first one right! And the second… and the third and… She blinked confusedly. Did she really get them all right? She checked again to be sure. Her face brightened as she heard that she’d be getting not one but two Holden knuts for that activity. Now she was only one behind the rest of the class! She might wind up with enough for a prize after all!
The next question got a blank look from her. She didn’t know anything about inflation, but she didn’t want to keep quiet when it meant not getting a Holden knut. She was just starting to catch up; she couldn’t fall behind now! At a loss, she listened to her classmates’ answers, hoping something would give her an idea. That older guy’s (Finn) answer made her think. If inflation meant higher prices so you couldn’t buy as many things, wouldn’t that apply to things people needed, not just candy? A random memory came to her, one of volunteering at a food bank with her dad. When she asked why those people needed food, he said they didn’t have any money to buy it. Could that have been because of inflation? The thought made her sad!
Her hand went up, and she said hesitantly, “I guess one impact of inflation could be that people are unable to buy the things they need, like food. If prices go up but people’s salaries don’t, their money wouldn’t stretch as far, and they may have to go without.” Was that anywhere close to right? She had no idea, but she hoped it was at least good enough to get a Holden knut!
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Her parchment was still in front of her, but Mitsuki had entirely abandoned her note taking for now as well as had completed her little Bertie Bott's doodle. Even bribery had lost its luster to a degree, particularly after Milo had reminded her and Mercer about currency being a means of control, therefore making it curious as to why Professor Holden felt as though his lesson required it in the first place. Though, perhaps, if she were to step outside of her sphere and take stock of the fact that Milo was crawling on the floor and she covering her parchment in doodles and nonsensical thoughts...perhaps she may see why the bribery to maintain focus could be necessary. However, as it were, she did not and was content to now draw on the back of her hand with her quill. The tip hurt a little as she moved it over her skin, scratching it up a bit but nothing too painful really, and she had just dipped it back into the inkwell when Mercer spoke again. She had not heard whatever question the professor had posed, but did hear the words of her friend and thus responded to that.
"I imagine some would pay a premium for such a historical artefact as that," she mused aloud, now beginning to draw a skull on her parchment opposite the box of Bertie Bott's she had drawn earlier.
She had no real thoughts to add on inflation anyway. The Holden knut held no power over her anymore...but her imagination was certainly inflating.
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While Mercer’s answer pertaining to balloons wasn’t exactly the context Holden was looking for, he was pleased at the second part of his answer. Simon was about to congratulate him and expand on his idea before… “Mr Evans, did you need something from Mr Branxton?” He hadn’t noticed Milo’s shenanigans until he glanced over to Mr. Mercer and saw the young Ravenclaw. What? How? He blinked, trying to think through how he had missed the crawling in the first place. He sighed, pausing in between questions to address the situation. “Mr Evans, please return to your seat. This is a classroom. Not an obstacle course.” He would wait for the student to return before proceeding.
He looked back to Mercer. “Balloons do inflate when you add air or helium… yes… Perhaps his head would be… And in that case, we’d be discussing deflation which is the opposite of inflation and what balloons do too.” He did smile as Mitsuki commented on the artefact. “Perhaps some would, Miss Rasting.”
Violet was right. “Yes, that is correct, Miss Blackthorne. Inflation is when items become more expensive.” He turned to Finn who offered a similar answer. “Yes, Mr Cooke. Perhaps but hopefully salaries would increase too; however, that is not always the case so you may have to share the Bertie Botts with your sister.”
Simon called on Evan next who gave the exact definition that he had planned on providing. “Exactly! And great example to help provide more context, Mr Nam.” Jude was the next student with his hand raised so Simon turned to him. “Certainly true, Mr Anders. Some people are willing to pay top dollar or Galleon for it.”
Cool eyes scanned the classroom, noting the students (Yukie) who were listening. He nodded to them and continued looking around for the next hand raise. “Ah yes. Miss Valentine.” He called on her and then listened. “Yes! Political and social events can impact inflation such as a wizarding war or a Muggle war. Take the United States as an example of inflation. In the First World War, they experienced significant levels of inflation but as time progressed and technology, the impact of inflation began to lessen. That’s probably driven by the influx of moderation of the business cycles and the broadening of the middle class.” Dear Merlin. He probably had lost the class…. “Long story short… Yes. Significant world events can cause inflation. Resources can become scarce and less available causing prices of these goods to soar.”
Miss Laporte brought up an interesting segue. “Expand that more Miss Laporte,” he asked curiously. This was a great point to get into their exercise about differences in Muggle and magical economies.
He turned to Miss Marchand and nodded. “Yes, it is a concern because it does make people unable to buy necessary goods to operate their household or live on.” He paused. “That being said governments have put pricing caps on certain items to help reduce the impact of inflation.” Whether or not, they were successful was different.
The History of Magic Professor pinched the bridge of his nose.
Simon nodded at the last answer before wrapping up their entire discussion. “The value of cost does increase over time. Directly driven by inflation which can be caused by social, political, or environmental factors.. Mr Nam provided an example of the availability of lumber causing inflation. If we were to build our own house or treehouse, the cost of lumber could be exponentially more because there is limited stock. And Miss Valentine provided an instance of how a political event can impact inflation.”
“Inflation raises prices, lowering your purchasing power. It means our Holden Knuts here have less buying power than they did five minutes ago,” he explained. “We won’t go into too much further detail today as you’ll have a homework assignment on it. So we’re going to shift gears a little to a discussion. I want you to break yourselves into small pairs or trios. I want you to come up with ideas on how to combat inflation. Is inflation good or bad? Discuss.”
OOC: As Holden said, work in groups if you wish. You’ll have TWO DAYS to complete this activity and then we’ll wrap up!
When they were released to work in pairs, Evan immediately turned his attention to Jude, not even taking a moment to consider the Hufflepuff might have wanted to work with someone else or thinking to ask first. This lesson was rather interesting, and he was surprised that so far the economics of the two worlds he found himself part of now had the same issues. Lucia's comment had gotten an interested look too from the Ravenclaw, and he hoped she would have a moment to expand because he was curious to hear what else she had to offer.
But for now, further discussion. Ways to combat inflation and if it was good or bad. Truthfully, he couldn't see a reason inflation would be good but would have been interested to hear if anyone else had reasons it was. "I think inflation is bad. One of the problems with inflation is that with each increase of products, there isn't always a simultaneous increase in workers wages, which shifts the classes, shortening the middle class and expanding those who are poor. Which can then also increase rates of homelessness." Which wasn't good for anyone, really. "As for how to combat... I don't know, maybe some type of harsher regulations on the value of currency? That only works though if you can establish a world wide currency and get everyone to agree..." Because foreign trade was a thing that also impacted inflation. "Or eliminating the currency in general. Like if everyone traded services for goods."
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Quote:
Originally Posted by Chelliephone
When they were released to work in pairs, Evan immediately turned his attention to Jude, not even taking a moment to consider the Hufflepuff might have wanted to work with someone else or thinking to ask first. This lesson was rather interesting, and he was surprised that so far the economics of the two worlds he found himself part of now had the same issues. Lucia's comment had gotten an interested look too from the Ravenclaw, and he hoped she would have a moment to expand because he was curious to hear what else she had to offer.
But for now, further discussion. Ways to combat inflation and if it was good or bad. Truthfully, he couldn't see a reason inflation would be good but would have been interested to hear if anyone else had reasons it was. "I think inflation is bad. One of the problems with inflation is that with each increase of products, there isn't always a simultaneous increase in workers wages, which shifts the classes, shortening the middle class and expanding those who are poor. Which can then also increase rates of homelessness." Which wasn't good for anyone, really. "As for how to combat... I don't know, maybe some type of harsher regulations on the value of currency? That only works though if you can establish a world wide currency and get everyone to agree..." Because foreign trade was a thing that also impacted inflation. "Or eliminating the currency in general. Like if everyone traded services for goods."
Inflation… wasn’t that interesting? Or maybe it was just him. Anyway, the point was, he hadn’t made a single bit of notes this time around. Thank gosh for textbooks, yeah? And sisters plus a best friend who could help him out this. Counting, however, was something he was more than capable of doing at this point in life: his total of Knuts now equalled six. Go him.
Their friendship was still going strong but Jude was still surprised that Evan had chosen him to partner up with. Especially when Evan always had such a reasonable amount of friends to choose from for these sorts of things. Maybe the Ravenclaw was just feeling sorry for him. At least Jude had someone to work with, someone who understood his current headspace and wouldn't be harsh on him if he couldn't be much help. Jude listened to Evan’s thoughts without interrupting, and it was only now that he actually found a bit more motivation than earlier to do some writing; it was Evan’s points that he jotted down quite neatly in his book.
“I’m inclined to agree: inflation’s in the negative range for everyone involved. It puts a strain on spending and savings for everyone. Like… let’s say a Muggle family with young kids. Providing that there isn’t an increase in wages, the parents would have to budget more for petrol for their car and this can mean cutting back on their savings. Or some other expense." Jude drummed his quill on his desk thoughtfully. Funny how he seemed to be himself once more whenever Evan was involved. His gaze trailed to Lucia. “Hang on. Ev, do you think that’s what Lucia meant when she said gold is resilient?’’ Jude’s eyes lit up in a way that they hadn’t in a very long time. “I remember this once hearing something on the Muggle news while dad had the TV on. Something about gold increasing in value as the Sterling decreases.” His head tilted thoughtfully as he watched Evan, waiting to hear the other boy’s thoughts.
Milo did not need anything from Mercer, nor from Mitsuki, on his other side. At least, nothing right now. He'd said as much with a straightforward, "No," before disappearing again and returning to his original spot via the same route... Only to return once more when the next part of the lesson was underway, this time pulling a chair into the space, kneeling down on it, and uniting the three of them as a group.
The only problem was that, being twelve, and also who he was as a person, inflation and whether it was good or bad and how to combat it were not topics that existed within his sphere of interest. It was all a little too terrestrial for Milo's tastes, all very human, something that anchored him to this allegedly mortal flesh prison very much against his will.
But he provided something on the topic just to say that he had done so. "Self-sufficiency. Crime. Both, maybe." Thus circumventing not only this inflation business but also currency as a means of control, of which inflation was also a part. It was like the people here who were enamoured by the currency of house points and approval and would change their behaviour accordingly if suddenly it was announced that different actions were exchanged for more points or less. He could have mentioned this, but instead Milo concentrated on running his fingertips lightly over the grain of the wooden table, and remarked on an earlier point: "I'm fond of skulls." No human skulls in his possession yet, except the one he currently inhabited.
Milo's thoughts drifted.
Perhaps later they could have a séance. They could ask about inflation.
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He paused, fished for his pocket watch, and pulled it out to check the time. Five more minutes needed….
He tapped his wand against the chalkboard and the answers appeared. “Here are the answers! Since this class is not a mathematical one, you will all receive one Holden Knut for attempting. If you did get answers right, add another one, okay?”
Time to shift gears.
"Now… those were the cost of items back then… but question for you all. Do we think the cost of the historical items would be the same today as it was back during Harry Potter's time? What is inflation? Why does it happen? And how does inflation impact economies?" He paused, looking around the room.
Bella gave small yay of triumph inside her head hearing that her maths work had earned her more Holden knuts. 2 knuts for actually getting all those knuts, sickles and galleon conversions right was not a bad result. Her mood plummeted a tad when she heard what Professor H asked next. Inflation? She had never even heard the word. It wasn't something that her parents spoke about over dinner usually. Trying for logic reasoning and eavsdropping on some of her peers answers at least gave Bella a shot to answer as she raised her hand "No, I don't think historical items would cost the same now as it did in Harry's time. If there is a high interest and more people want an item maybe the prices will have gone up, but if some material is cheeper now than before I guess the prices will have gone down. Inflation is when prices go up and something that cost say 1 galleon one day like coffee beans can a few weeks later cost 4 galleons. If there is a high want and a shortage the price will go up (inflation) but people might not be able to buy what they want then since their salaries haven't increased with the inflation." Bella felt like she rambled a whole gob of jibberish, but hopefully Prof Holden could give her a knut for it.
Quote:
Originally Posted by Watson
“Inflation raises prices, lowering your purchasing power. It means our Holden Knuts here have less buying power than they did five minutes ago,” he explained. “We won’t go into too much further detail today as you’ll have a homework assignment on it. So we’re going to shift gears a little to a discussion. I want you to break yourselves into small pairs or trios. I want you to come up with ideas on how to combat inflation. Is inflation good or bad? Discuss.”
If Bella's mood had plummeted a tad earlier when Inflation first had been mentioned then it dove down to the bottom now. She had had a hard time just finding an answer to the earlier question and now this. Shaking her head Bella stared down at her piece of parchment and reluctantly began to write. It was very temping to skip the activity and just write a friendship note to Jude asking if he wanted to go to Hogsmeade with her and do sightseeing. With Professor H looming around though she didn't want to lose a knut because she still had her eyes on a bag of honeydukes candy.
Grabbing her quill she began writing.
Bellas notes:Inflation can be both good and bad depending on who you ask. A company would be glad for more income, but if the customers flee because of too high prices then it's not good for the company either. Inflation then will be bad for both the customer and the company. Higher prices might mean that some people can't buy as much food or clothes as they wish/need and thus more people will become poor or go hungry and that's bad.
One way to combat inflation could be to have stores that always have prices on items like food, clothes and other essentials like soap that customers always can afford no matter what the price is overall.
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Was Apollo thinking about how many Holden Knuts he accumulated? Yes, but also he was wondering if he accumulated enough knuts, could he trade them for a Holden Sickle? It was this thought that him distracted about the next question on the cost of historical items. Was it all due to inflation though or because of historical items being labeled as 'vintage' which enables sellers to capitalize and profit? Now if it was the same item - example, a pint of butterbeer - that increased in price over the last century, that would be inflation.
And yet ... everyone seemed to have negative connotations about inflation. Maybe it was the fact that his mum always seemed to make sure there was food and clothing for him; he didn't grow up rich, but also he didn't think inflation was necessarily bad for the consumers as some of his peers seemed to equate it to?
"With all due respect, I think it depends on how much inflation is present as it could be advantageous for both consumers and companies. Inflation would actually enable economic growth, whereas ... deflation would be harmful to the economy. While we don't necessarily want to see a rapid increase, if it's a slow increase in prices wouldn't that be good to stimulate the economy? It's also easier to increase wages for deserving employees with inflation. Whereas with deflation, the economy might recess as people would reluctant to spend money. I'm not saying that prices should increase to ridiculous amounts so that companies can profit heavily, but just that some increase would be good for boosting economical growth."
Okay, that was a lot of words that he said. "So I guess to combat inflation, would be to be productive so we can warrant higher wages?" Okay, so he probably should start studying for those OWL exams?
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"With all due respect, I think it depends on how much inflation is present as it could be advantageous for both consumers and companies. Inflation would actually enable economic growth, whereas ... deflation would be harmful to the economy. While we don't necessarily want to see a rapid increase, if it's a slow increase in prices wouldn't that be good to stimulate the economy? It's also easier to increase wages for deserving employees with inflation. Whereas with deflation, the economy might recess as people would reluctant to spend money. I'm not saying that prices should increase to ridiculous amounts so that companies can profit heavily, but just that some increase would be good for boosting economical growth."
Violet was in the process of trying to find someone(s?) to pair up with when she became interested in what Apollo was saying. He had some interesting points, but...this inflation/deflation business was tricky, wasn't it? One could so easily make things go wrong the other way by trying to tweak it. "But that all depends on the inflation being moderate, doesn't it?" she replied to Apollo, unable to resist joining the conversation. "And also on whether wages and profits grow at similar rates to the costs of things. Otherwise it could cause a lot of problems. But I agree--inflation seems better than deflation, because that could cause a..." (what was the word? oh yes...) "recession."
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The whole world was confusing. The professor was asking them if inflation was bad, but, like... it sounded bad? It sounded not good, but there were people who were definitely chatting around them as if it was up for debate. And then there was Suki, who didn't seem to be interested in inflation at all, especially not debating it. And Milo... had reappeared. And was talking about crime.
"I think we could make an excellent crime syndicate. You could scout out treasure to steal on the... astrid plane. And Suki..." Mercer eyed her, considering. "Suki can distract them. And I'll plan the heist. AND! If we have more money, treasure even, then it won't matter how much everything costs. We have more money than they can increase things a bit anyway."
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HoM Lesson - A Knut for Your Thoughts? 
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