Teacher Notes / Lesson Estimated Time: 2-3 Class Periods Objectives: - To gain an understanding of different economic systems - To stimulate imagination and help students envision how an economy could be organized - To demonstrate effective presentation skills Lesson: 1. Review or Research 4 Basic Economic Systems a. Traditional, Command, Pure Capitalist System, Mixed Economic System. 2. Have student groups report out to class on the characteristics of each along with the disadvantages and advantages. This can be done on the board, on a poster, in a slide presentation, or through an app like PicCollage. 3. Put students into groups of 3 or 4 and read the following to the class: “I want you to imagine that we are on a distant island together and the people in this school are the only people left in the world due to a catastrophic event. There are many sources of food and it has a very comfortable climate.” Your objective is to create a structured, civilized society based upon an organized well thought out plan.” 4. Ask the class to come up with a list of natural resources found on the island and have a student scribe write them on the board. The students will need to figure out what they have for human resources (laborers by skill) and how they can create capital resources (simple machines, tools) 5. Pass out the Economic Questions to Consider (1 Handout per group) and have them fill out the packet. They could do some research on different types of governments for guidance on leadership. 6. Have teams prepare a presentation to share with the class. (For Students) ECONOMIC QUESTIONS TO CONSIDER Goals What are your goals for your new society? Leadership / Government What is your leadership plan? How will you determine who will be in charge? What type of government will be in place and how will they go about making decisions? (Refer to link for ideas) (http://stutzfamily.com/mrstutz/WorldAffairs/typesofgovt.html) How will your government be involved in this economy? What is their role? Land Distribution Create a map of your island to share as part of your presentation Who will own the land? Should you divide it up and distribute it? If so, how? If the land is privately owned, who gets it and how? Where will people live on this island? (Label Map) Where are the natural resources located? (Label Map with landmarks) Where will people do work? (Label Map) Production Plans (Production of Resources) What work must be done to meet your goals? List the kinds of jobs required to sustain the lifestyle you desire. How will you determine who will do what work? What will you produce on your island? How will you use the natural resources to produce goods? Will there be rules governing the use of natural resources? Why or why not? What kind of capital (tools, machines, etc) will be used to produce goods? How will you acquire them? Distribution and Consumption of Resources Are there some basic needs that you believe should be guaranteed for all? If so, what are they? Or do you think that individuals should secure their needs by themselves? Who will get what is produced? What is your plan for distributing goods and basic needs? How will you deal with scarcity? What is your policy for providing goods to people that are unable to work? Does that matter? Type of Economy Determine if your economy is more market based, command based or mixed. Compare your economic system to the different types of economies covered in class and identify any common characteristics. Prepare to Share Create a presentation on your work to share with the class.