How can McDonald’s “Big Mac” hamburger help economists? Discuss the Big Mac Index – a global gauge of currency value through the world’s most iconic burger.
About this lesson
The Big Mac index was invented by The Economist in 1986 as a guide to whether currencies are at their “correct” level. Every year the index compares the price of a McDonald’s “Big Mac” hamburger in different countries around the world.
Use this lesson to help students:
- Understand what the Big Mac Index is
- Consider why the Big Mac was chosen
- Debate whether there is a better item for a global index.
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