Unit 1: The Economic Fundamentals
Cumulative Unit Project
To complete this project, you will have to create an imaginary country (a “sim” world in other words). An essential part
of the creation of this imaginary country is a description of several elements of the country’s economy. You and your
group will decide how best to demonstrate and describe these elements of your country’s economy. Since all country’s
gain or benefit from trade, you will also interact with other groups to learn about their country’s economy and see if
your countries are compatible trading partners.
Directions:
1) You will get into groups of 3 to 4 students. You may choose who is in your group but you should ensure that all
group members are committed to completing this project to the best of their abilities. I reserve the right to
make changes to groups if members are consistently off task.
2) You will read over the list of required elements. While you can complete and divide the elements in any order
you wish, you might also decide to complete the elements in order.
3) You will read over the rubric to ensure you are completing the elements with the most amount of thought and
effort you and your group decide is best or are capable of accomplishing.
4) When instructed, I will tell you that “global trading will begin.” At this time, you are to interact with other
groups, learning about their countries and seeing if your countries are compatible trading partners based on
resources available, products produced, and/or economic systems. Be sure to find another group in class to
trade with that has a product that will benefit your people (do not make it up). More than 1 group is able to
trade with the same group.
Required Materials:
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6)
Blank white and/or construction paper
Colored pencils and/or markers
Ruler
Pen and pencil
Textbook
Your notes
Other materials if available: stencils, glue stick, pictures cut out from magazines, clip art, etc.
Required Elements:
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Name for your country
Map of your country
Geographical features of your country (mountains, lakes, deserts, oceans, forests, etc.)
List of natural resources with symbols of each natural resource placed on a location on your map
Description of human capital (education level, skill level, job experience – see textbook pg. 24) of the population
List of goods or services which can be produced with your country’s natural and/or human resources
(continued on next page)
Identify your country’s economic system (command, market, or mixed) and explanation of answers to the
following fundamental economic questions (see textbook pgs. 41-49):
o What goods and services (from the list mentioned above) will be produced?
o How are goods and services to be produced?
o For whom are goods and services to be produced?
Explain how your country will address the following ECONOMIC GOALS (see textbook pgs. 39-41):
o Economic freedom
o Economic efficiency
o Economic equity
o Economic growth
o Economic security
o Economic stability
A production possibilities frontier/curve showing the tradeoffs between TWO of the GOODS
your country will produce (see above).
o Show a change in the production curve and an explanation of why the curve changed
Name of a compatible trading partner
o Explanation of why that trading partner is compatible
o Identify a good or service you will sell to your trading partner
o Identify a good or service you will buy from your trading partner
o Explanation of why the good or service you will buy from your trading partner will benefit your country.
o Explanation of how you used the concept of comparative advantage to determine who you should trade
with and what goods or services will be traded
Unit 1: The Economic Fundamentals
Cumulative Unit Project
Project Rubric
Student Names:
Project Task
Name for your
country
Poss.
Points
3
Map of your country
3
Geographical
features of your
country
3
List of natural
resources and
locations indicated
by symbols on
country map
6
Description of
country’s human
capital
6
Level 1
Creates simple name
with little creativity
or evidence of
thought
Creates simple map
with little creativity
or evidence of effort
Level 2
Creates country
name with some
creativity and/or
evidence of thought
Creates a map with
some creativity
and/or evidence of
effort
Provides at least 3
Provides at least 5
geographical features geographical features
with at least 3
different features
included
Provides a list of at
Provides a list of 3
least 2 natural
natural resources
resources and
and symbols drawn
symbols are drawn
on the map are
on the country map
clearly
representative of the
resources
Provides simple
Provides full
descriptions of
description of
country’s human
country’s human
capital
capital
Level 3
Creates very creative
country name and
overwhelming
evidence of thought
Creates a very
creative map with
overwhelming
evidence of thought
Provides at least 7
geographical features
with at least 3
different features
included
Provides a list of 5
natural resources
and symbols drawn
on the map are
creative and clearly
representative of the
resources
Provides full
description of
country’s human
capital and
elaborates further on
the nature and
benefits of this
human capital
Points
Earned
Project Task
List of goods and
services which can be
produced using
country’s natural
resources and/or
human capital
Poss.
Points
6
Identify your
country’s economic
system (command,
market, or mixed)
and explanation of
answers to the
following
fundamental
economic questions:
o What goods and
services (from the
list mentioned
above) will be
produced?
o How are goods
and services to be
produced?
o For whom are
goods and
services to be
produced?
6
Explain how your
country will address
the following
ECONOMIC GOALS:
o Economic
freedom
o Economic
efficiency
o Economic equity
o Economic growth
o Economic security
o Economic stability
6
Level 1
Provides a list of at
least 2 goods and
services which can
ACTUALLY be made
with the country’s
natural resources
and/or human capital
Identifies country’s
economic system but
explanation of
fundamental
economic questions
is missing, unclear, or
inaccurate
Level 2
Provides a list of 3 or
4 goods and services
which can ACTUALLY
be made with the
country’s natural
resources and/or
human capital
Identifies country’s
economic system but
explanation of
fundamental
economic questions
is uneven or
somewhat inaccurate
Level 3
Provides a list of 5 or
6 goods and services
which can ACTUALLY
be made with the
country’s natural
resources and/or
human capital
Identifies country’s
economic system and
explanation of
fundamental
economic questions
is accurate and
consistent
Accurately explains
how country will
address at least 2
economic goals
Accurately explains
how country will
address 3 or 4 of the
economic goals
Accurately explains
how country will
address 5 or 6 of the
economic goals
Points
Earned
Project Task
A production
possibilities
frontier/curve
showing the
tradeoffs between
TWO of the GOODS
your country will
produce (see above).
o Show a change in
the production
curve and an
explanation of
why the curve
changed
Trading Partners
1. Name of a
compatible trading
partner
2. Explanation of why
that trading
partner is
compatible
3. Identify a good or
service you will sell
to your trading
partner
4. Identify a good or
service you will buy
from your trading
partner
5. Explanation of why
the good or service
you will buy from
your trading
partner will benefit
your country.
6. Explanation of how
you used the
concept of
comparative
advantage to
determine who you
should trade with
and what goods or
services will be
traded
Poss.
Points
6
6
Level 1
Draws a production
possibilities curve but
the curve is
inaccurate OR does
not show a change in
the production curve
AND an explanation
of why the curve
changed
Level 2
Draws an accurate
production
possibilities curve
BUT does not show a
change in the
production curve OR
an explanation of
why the curve
changed
Level 3
Draws an accurate
production
possibilities curve
AND shows a change
in the production
curve AND an
explanation of why
the curve changed
Provides information
or explanations of at
least 2 of the 6
requirements of the
“trading” period
Provides information
or explanation of at
least 3 or 4 of the 6
requirements of the
“trading” period
Provides information
or explanation of at
least 5 of the 6
requirements of the
“trading” period
Total Points Earned:
Points
Earned
out of 51 total