Three New Economic Teaching Methods
Dr. Kathleen Young
kathleenyoung65@webster.edu
Or kathleenyoungconsulting@yahoo.com
314-413-1803
• Vice President, Learning & Development
Consultant/Strategist
• Adjunct Faculty at Webster University
• Recipient of the Missouri and Kansas Association of
Private and Career Colleges Instructor of the Year award
for 2011.
• MBA from Fontbonne College; BS in Economics from
Washington University, Doctorate in Management from
Colorado Technical University.
Background
Three New Economic Teaching Methods
• A Game
• Twist on a classic
• New Technology
Today
• The GDP/International Trade Game
• Illustrating GDP/International Trade in the Classroom: How
Current World Events Can Facilitate Ten Rounds of Active
Learning
• The purpose of the International Trade game is to have a
hands-on classroom exercise that allows students to connect
the concepts they have learned in a real-world scenario format
(and have fun!).
• Pre-work required:
• Prior to the trading game class session, it is helpful if each student
is assigned a paper to write about a specific country. Each student
should complete a country profile (CIA World fact book is a good
reference).
The GDP Game
Student Name:_________________________________________________
Assigned Country: Mexico
GDP (purchasing power parity):
$1.845 trillion (2013 est.)
Agriculture Products:
corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
Industries:
food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
Exports:
$370.9 billion (2013 est.)
Exports Commodities:
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton
Imports:
$370.7 billion (2013 est.)
Imports Commodities:
metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles,
aircraft, and aircraft parts
Pre work Example:
Country Profile
• Students will be able to understand the definition and
components of Gross National Product (GDP).
• Students will be able to understand the importance of exports
and imports.
• Students will understand scarcity and opportunity costs.
• Students will understand the importance of international trade
in our society.
• Students will understand the effect geopolitical and other
events can have on economies.
• Students will understand the concept of comparative
advantage.
• Students begin to understand the concept of sustainability.
Learning Objectives
Trading Game Card
Template
Trading
Session/Event
Description
Supporting
Reference for
Debrief
1. Open Trade
Free trade
Websites/articles providing GDP by
country
2. Commodity Shock
Oil
Articles about oil
3. Natural Disaster
Hurricane
Articles about tsunami, earth quake
or hurricane
4. Political Unrest
Government Overthrown
France, Russia/Ukraine articles
5. Cybercrime
Financial accounts stolen
Cybercrime/
global internet crime articles
6. Country Debt/Bankruptcy
Country defaults on debt
Greece
7. Country Economic Sanctions
Imposed economic sanctions
Articles on economic sanctions
against Russia
8. Global Recession
Global recession/slowdown
Articles re China’s economic
outlook
9. Sustainability & Innovation
Wildcard play
(new innovation)
Articles re futuristic predictions for
technology
10. Student pick
?
?
5 minute trading
sessions
The Ten Trading Sessions
Support each
trading
Session with
real-life
and relevant
articles
to foster
discussion
Have Fun!
• Students may need some type of incentive to actually trade. For example, why
would a student care if they owned sugar for 3 points or cement for 3 points?
• Give students some strategies in advance to consider:
For example:
• Countries can increase their point values based on the number of cards they have
producing the same good. For example, owning two oil cards doubles their point value,
owning three oil cards triples the value, and so forth. Then students would have an
incentive to trade and would see gains from specialization/comparative advantages; OR
• Countries may want to diversify their mix of GDP; OR
• Countries may want to change their mix of GDP and now specialize in something new.
•
Many of the 10 trading events are examples that in the real world would affect
different countries differently, the game overall has them affecting all countries
equally in most cases. (use this during your Debrief session to reinforce how
events can affect countries differently – for example – not all countries come to
the aid of those in need)
• Noise, congestion, participation, and room set-up logistics.
Considerations
Suggested Debrief Questions
How was the trading session like the article of reference for this session?
How did it feel to be the weakest country?
How did it feel to be the strongest country?
Did any country feel that they wanted to change their GDP mix but couldn’t?
How do countries determine their GDP output?
How can you tie in the trading experience today to the country you are researching for your papers?
Where do comparative advantages come in to play in international trade?
Did anyone feel they had a comparative advantage in the trading sessions and why?
What is the role of the International Monetary Fund ?
How did you feel when you had to contribute to a disaster relief fund to help another country out?
How do you think countries make decisions about what goods to produce? What goods to export?
What goods to import?
How did you feel when the trading involved innovation?
What do you think about sustainability and the future of our planet? Should countries be concerned
about this?
What issues are there when a good is scarce or there isn’t enough for everyone? Did you have to give
up any good to purchase a good you wanted?
What opportunity costs do countries have to consider when they export/import?
Trading Game Class
Debrief
1
2
3
4
The instructor
selects two to
three specific
trading rounds
he/she wants to
focus on for the
course. The game
is played
continuously thru
the trading
sessions.
The game is
played
continuously thru
all 10 trading
sessions.
The game is
played so that
there is the
debrief after each
specific trading
session
The game is
played weekly, so
each trading
session is
conducted over
the course of a
semester ( e.g.
weekly play).
1-2 hours
2-2.5 hours
4-5 hours
10-11 weeks
High school
AP Econ and/or Jr. College, For-Profit College, Traditional
College.
Four Game Versions
• Twist on a Classic (Class debate)
• Pre-work:
Write a short abstract from a current U.S. economic-related
article.
1. Share articles in class. Vote on the article/topic to debate.
2. Example: Student Loan Forgiveness
3. Divide class in to two teams. Provide time for research
and preparation.
Class Debate
• Each team will be responsible for making 3 strong points
supporting their argument (a focused approach). It must
tie directly into the economic impact.
• Each team is responsible for thinking thru what the other
team will come up with for their opposing view and
having rebuttals ready. ( two-sides to every argument).
Basics
• Identify two judges (one from each team to prevent any
bias).
• Go over the Judge’s document & responsibilities.
• Go over the rules of the debate.
Debate Day
Team 1
Makes
First Point
Team 2
makes First
Point
Team 2
Makes
Rebuttal
Team 1
Makes 2nd
Point
Team 2
Makes
Rebuttal
Team 1
makes
Final Point
Team 2
Makes
Rebuttal
Team 1
Makes
Rebuttal
Team 2
Makes 2nd
Point
Team 1
Makes
Rebuttal
Team 2
makes Final
Point
Team 1
makes
rebuttal
Rules of the Debate:
1) Each team has 3 minutes to make their point or rebuttal.
2) Only one person can speak at a time.
3) The same person cannot make all of the points for the team.
4) Students can use notecards.
5) All points need to be based on fact (not personal opinion) and tie in to the
economic impact.
Debate Day
DEBATE JUDGING
“FOR”
ROUND
1
Topic
MAIN POINT
Points Possible
5
2
MAIN POINT
5
3
MAIN POINT
5
4
Counter 1
5
5
Counter 2
5
6
Counter 3
5
7
Overall
10
ROUND
1
Topic
Main Point
Points Possible
5
2
Main Point
5
3
Main Point
5
4
Counter 1
5
5
Counter 2
5
6
Counter 3
5
7
Overall
10
Points Awarded
Notes
Points Awarded
Notes
TOTAL:
“AGAINST:”
TOTAL:
Legend:
Main Point: 5 represents a team that made a focused, well-researched solid point and tied it to potential economic impact.
Counter: 5 represents a team that countered the main point with a focused well-researched rebuttal that ties to an economic
impact.
Overall: 10 represents a team that appears to be extremely well-prepared, supportive of teammates and exhibits professional
demeanor in making points and counters and did the best overall job of relating the debate to the economy.
Judging Criteria
New Technology
•
•
•
•
•
•
Picle (Free)
Picle is like Instagram if it could talk. You can take a picture and then record up to 10
seconds of ambient audio to create a ‘picle.’ Combine those picles into a story and the result
is something like instant nostalgia.
Videolicious (Free)
This is primarily a storytelling app. Film yourself talking (or just use the mic) while tapping
on the video clips you're referencing. After adding music or filters, the end result is a
voiceover narrative.
iMajiCam (Free)
iMagicam is a fun way to alter your video in real-time. You can layer warping effects, filters,
or color styles to re-imagine the world around you.
Vimeo (Free)
You can shoot, edit, and upload your videos right to Vimeo. It’s also easy to add transitions,
effects, and music to your creation.
Simpleprints by Storytreen, Inc. (Free)
Simply the best way to create a photo book from your iPhone. Use your photos to make
something in just a few minutes. Fast, Simple and Easy to use.
How can I change my assignments to offer students the
opportunity to create projects/assignments using these
new tools?
Issues to consider include: Grading – does everyone
have the same phone and tools to complete the
assignment? If not, use videos for participation points in
classrooms in a group setting.
Free APs
Two video examples were demonstrated at the conference providing perspective on
using Videos and strategies for setting up use of Videos in the classroom. These
included:
1) Video example of students that did not follow directions and created a short 50
second video in which they did not appear and did not cover the required tasks.
2) Video example of team that created a 3 minute video newscast and followed the
directions.
• Best Practices:
1) making sure to set clear expectations when using Videos in the classroom.
2) Tell students what NOT to do in addition to what to do. (e.g., do not overlay rap
music on the video).
3) Utilize a participation points system to reward teams that follow directions and
create a usable video that demonstrates understanding of the concepts.
Examples!
1.
2.
3.
4.
5.
Go to your Iphone
Click on the camera icon
Change it to video
Create a short video.
You can then email the video clip.
Is there an Easier Way?
• Have students create a 2 minute video clip session after each learning
module in the classroom is completed.
• Have students create a 3 minute video clip exam review on selected
topics. ( for example – outline the mid-term exam review and assigns
groups to create a video to teach back the important concepts of each
topic).
• Create mini video books to reinforce learning objectives.
• Create instructor videos of topics in the news that tie in to concepts
taught in the classroom and push out to students via email or post to their
class page via Blackboard, World Classroom, etc.
• Considerations:
• Not everyone has a cellphone (students can work in groups).
• Go over a list of what NOT to record.
In Practice –
Examples/Considerations
Economic Indicator
Paper (1 pager & share
with class)
Field Research paper
(interview 3 people,
ties into US Econ
cycle)
Abstract, followed by
Debate ( US topic)
Island Game (small
groups, decisions
regarding government
intervention)
International Paper
Assignment& Country
Profile prework
GDP & International
Trading Game
International Paper
Presentations
Real World
In class fun:
• Video clips
• Role playing
• Speed Econ
• Create a 2 minute video clip on what you’ve learned
today.
• Share it with someone near you.
• Email it to someone (attach it to your text or email just as
you would a regular picture or document)
Let’s Try It Out!
• Three New Economic Teaching Methods
• International Trade/GDP Game
• Twist on a classic (debate)
• New Technology
• If you would like a copy of the International Game including
Templates; a copy of the Debate templates or any additional
information – please email me at:
Kathleenyoung65@webster.edu or
Kathleenyoungconsulting@yahoo.com
• 314-413-1803
Summary