Title: To Have a Command or Market Economy; That is the Question Lesson Author: Megan, Debbie, and Dylan

Transcription

1 Title: To Have a Command or Market Economy; That is the Question Lesson Author: Megan, Debbie, and Dylan Key Words: economic system, traditional economy, free market economy, command economy, mixed economy, economic equality, economic freedom, and economic stability. Grade Level: 8 th grade Civics Time Allotted: 45 minutes Rationale/ Purpose To be a responsible citizen, students must understand how the world economies function, by comparing the strength and weaknesses. Students must be able to understand the foundation and functions of an economy to be able to make informed decisions about the government and economic decisions. Key Concept(s) include definition: Citizens recognize the differences between the four different economic systems, traditional, command, market and mixed. Citizens recognize the importance of economic equality, economic freedom, and economic stability to the different economic systems. NCSS Standard(s) SOL Information NCSS Theme (s) with indicators: Theme 7: Production, Distribution and Consumption Teachers should enable learners to explain how the scarcity of productive resources requires the development of economic systems to make decisions about how goods and services are to be produced and distributed Teachers should help learners analyze the role that supply and demand, prices, incentives, and profits play in determining what is produced and distributed in a competitive market system Teachers should help learners compare the cost and benefits to society of allocating goods and services through private and public sectors. SOL: CE.11 b) the student will demonstrate knowledge of how economic decisions are made in

2 the marketplace by comparing the differences among traditional, free market, command, and mixed economies. Essential Knowledge Traditional economy Economic decisions are based on custom and historical precedent. People often perform the same type of work as their parents and grandparents, regardless of ability or potential. Essential Skills Distinguish between relevant and irrelevant information. (CE.1d) Free market economy Private ownership of property/resources Profit motive Competition Consumer sovereignty Individual choice Minimal government involvement in the economy Command economy Central ownership (usually by government) of property/resources Centrally-planned economy Lack of consumer choice Mixed economy Individuals and businesses are owners and decision makers for the private sector. Government is owner and decision maker for the public sector. Government s role is greater than in a free market economy and less than in a command economy. Most economies today, including the United States, are mixed economies. Guiding Question(s): What are the different characteristics of a traditional, command, market and mixed economy? What are the benefits and disadvantages of a command and market economy? What are the benefits of a mixed economy that makes it the most popular economic system currently? Assessment Tool(s): Economic Systems Concept Frame, Debate rubric, and class discussion of the Just Do It cartoons, and the guiding questions

3 Background: This lesson will be in the unit on economics and the types of economic systems after studying the reasons for economic decisions in the marketplace. Lesson Objective(s) (Please number): 1. Students will be able to recognize the differences between the four economic systems. 2. Students will be able to examine the benefits and disadvantages of a command and market economy. Materials: Handouts Just Do It Political Cartoons Economic System Identity Cards Economic System Frame Worksheet Debate Rubric Additional Materials/Resources: Elmo Procedure/Process: JUST DO IT! The Hook : Two political cartoons will be shown in the PowerPoint (see attached Just Do It sheet) with the following questions for students to individually respond to: For each cartoon responds to the following questions. 1) What is the cartoon suggesting in terms of the economy? And 2) How does this cartoon deal with scarcity? The student will first write answers in written form and the discuss answers with class.

4 Obj # See above. Processing Activity and Procedure - include directions, question frames, assignment detail to be given to students (these should all be made into explicit materials (e.g. see material A), and time estimates Check for Evidence of Understanding -Either Formal or Informal- (Checks Essential Knowledge and Skills) Just do it. Transition: Objective 1 Transition: Objective 2 Students will enter the classroom and sit in groups according to the seating chart posted on the Elmo. Students are to individually respond to questions on the PowerPoint in response to two political cartoons about economic systems. 5 minutes. Class discussion after the students have had time to individually respond. Students will learn about the goals of economic systems including economic freedom, economic equality, economic growth and economic stability. Class discussion will look back at the two political cartoons to discuss which goals each of the political systems favored more. 5 minutes The students will familiarize themselves with one of the economic systems by reading an identity card and filling out one column of there their frame worksheet in their selected groups. 10 minutes Completed Economic System Frame Worksheet Students will present their column of their frame worksheet to the class, acting as experts on their economic system. Students will then determine which economic systems the Just-Do-It cartoons represent. Instructors discuss the debate between these two forms of economic systems. Using information from the lecture, students will be divided into two groups representing a command and free market economic system of governance. Students will then debate the pros and cons of both systems by following the debate rubric. Four teams one pro command, one con command, one pro market and one con market. 20 minutes. Debate rubric Modifications/Accommodations for Diverse Learners: Students will be graded based off participation whether it be verbal or written.

5 Closure/Writing Prompt/Rubric: Class discussion on guided questions. What are the different characteristics of a traditional, command, market and mixed economy? What are the benefits and disadvantages of a command and market economy? What are the benefits of a mixed economy that makes it the most popular economic system currently? Materials: 1. Just Do It cartoons and questions 2. Economic Systems Identity Cards 3. Economic Systems Frame Handout 4. Debate Rubric