COMMON CORE LESSON PLAN
BUSINESS ECONOMICS -DEKALB
1. Title: Levitt, Steven, and Stephen Dubner. "Why Do Drug Dealers Still Live with
their Moms." Freakonomics. New York: HarperCollins, 2006. 79. Print.
Although several chapters are read within this book at an earlier point in the semester,
this lesson plan focuses on just one chapter, “Why Do Drug Dealers Still Live with their
Moms.” This chapter deals with basic economic issues that we may not recognize that
we apply to our everyday lives.
2. Lesson Plan Summary:
The goal of this lesson is to give students the opportunity to read about everyday
basic economic issues from a different perspective and apply those principals to
running their own virtual business. By reading the chapter closely combined with a
vocabulary exercise, written discussion questions and classroom discussion about it,
students will explore questions about the main idea of the chapter. Students will
continue with the topics of this chapter to start and run their own virtual business.
When combined with writing about their learning experience, teacher feedback, and
actual “hands on” application, students will form a deeper understanding of the
topics discussed in the text.
A. Standards Addressed: The following CCS Standards and National Economics
Standards are the focus of this lesson.
RI11-12: 2, 4, 6, 7, 10
WHST 11-12: 1, 2, 4
Economics National Standards: 16, 18, 9, 14, 4, 7, 8, 9, 15, 18
B. Number of Instructional Days: This lesson can be taught in approximately 15
class periods which includes in-class reading days, written assignments,
classroom discussion days and “work days” which involve working on the
computer simulation. Additional time may be needed if students need extra
computer time or additional activities are included.
C. Tasks:
Reading Task: Students will silently read Chapter 3 of “Freakonomics”,
entitled, “Why Do Drug Dealers Still Live with their Moms”. The students
will then work through a set of concise, text based questions that compel
them to reread specific sections of the reading and discover the structure
and meaning of the reading.
Vocabulary Task: Many of the meanings of words in this chapter can be
discovered from careful reading of the context in which they appear. This
practice is both called for by the CCSS and is vital to student success.
However, since this text is at a grade level higher than the students are
accustomed to reading, the teacher will prepare a list of unfamiliar terms
along with their common definitions. Students will note the page number
these words appear in their reading. Students will be given extra points in
this assignment for writing down other unfamiliar words and write the
contextual meaning of those words.
Multimedia Task/Technology Task: Video clips are available on
http://youtube.com of this chapter and a full-length movie is also available.
If the teacher feels there is ample time in their time frame, students may
view this clip or movie and will take concise notes on the content of the
clip or movie. These notes will be used to compare and contrast the
information provided in the reading section.
After completion of the reading and writing portion of this lesson, students
will be introduced to the software “Virtual Business: Retail Store” where
they will apply the topics discussed (supply & demand; opportunity cost;
entrepreneurship, etc.) to open and operate their own virtual business.
Discussion Task: Using the writing task (text based questions), students
will discuss the reading passage in depth with their teacher and their
classmates, performing activities that result in a close reading of the text.
The goal is to foster student confidence when encountering complex text
and to reinforce the skills they have acquired regarding how to build and
extend their understanding of the text.
Writing Task: Students will answer a series of text based questions
using simple sentences (encouraging the TTQA method). Students will
be afforded the opportunity to rewrite or revise their explanation during
their participation in classroom discussions, allowing them (in red
ink/pencil) to refashion both their understanding of the text and their
expression of that understanding.
3. Sequence of Activities:
A. Day One: After a short introduction of the lesson, the teacher will conduct a
classroom discussion about the importance of business ownership in our country.
Through this discussion, the teacher will garner student experiences with starting
and operating a business, recognizing opportunities, setting goals, developing a
business plan, product development, purchasing and inventory management,
record keeping, and distribution, production and delivery of goods and services,
marketing, financing, and assessing progress of that business.
The teacher will connect this discussion to the chapter of the text – drug dealers
are also entrepreneurs but need to live with their moms. Why?
The books will be distributed along with the vocabulary word task for students to
complete as they silently read. If a student requests, a photocopy of the chapter
will be distributed so students can highlight important passages in the text.
B. Days Two-Three: Students will continue reading silently completing the
vocabulary task and highlighting their reading. The teacher will monitor student
work and offer help as needed. The vocabulary task will be collected and
evaluated. These papers should be returned to the student prior to the textbased question distribution.
C. Days Four – Five: The teacher will distribute the text-based question sheets.
Students will re-read the article (if necessary) and answer the text-based
questions on the question sheet. Students will use the computer lab to type their
answers using complete sentences, spelling and grammar. The teacher will
monitor student work, review written work, and offer help as needed
D. Days Six – Seven: Students will share their responses to the text-based
questions to illicit class discussion as to the correctness of the responses to each
question. Student will be given red pens/pencils and will correct or revise their
responses throughout the discussion. Extra points will be given to students who
make those revisions.
E. Day Eight (if desired): The teacher will show the media clip from the movie,
“Freakonomics” or from http://youtube.com. Students will take notes on the
information from the clip.
Students will use the notes taken from the media clip to compare and contrast
the media clip to the text in a small group discussion. The recorder from that
group will lead the discussion for their group noting the similarities and
differences the group found. The teacher will monitor student work, review
written work, and offer help as needed.
F. Day Eight – Fourteen: Students will begin the computer simulation by going
through the online tutorials for the software. Students will begin their own
business when they feel competent to do so. Most of these first attempts will fail.
Students will then be given handouts or lessons to provide students will small
lessons in pricing, staffing, promotion, purchasing, supply and demand, and
advanced promotion.
At the conclusion of these lessons, students will record on the handout their
experiences within the lessons and answer questions provided by the software
producer.
This experience will allow them to open a new business and run that business for
the remainder of the allowable time period.
Students will provide a written essay, “What I have Learned” describing and
providing details of opening and running their own business.
4. Guided Questions for Students (Text-Based Questions):
Please see attached.
5. Assessment:
The assessments used for this lesson will include the following:
Informal assessment of student learning through class discussion and teacher
monitoring of the student work during class time.
Formal assessment of student learning through class work that will be
collected, analyzed, and graded by the teacher. These may include: textbased questions, vocabulary task, Virtual Business lessons and essay.
6. Additional Activities:
The teacher may include an additional activity of students interviewing local
business owners. Activity is attached.
7. References: (Examples)
Vocabulary Task
Text-based Questions
Virtual Business® Lessons (See Virtual Business® Software)
“What I Have Learned” essay
Entrepreneurship Interview questions
Some of these words in this chapter maybe unfamiliar to you – some are unique to
economics and some are words that you may not have learned yet. As you come
across each word in your reading, mark the page number(s) where you found the word
on the blank line.
___ aberrationally
unusually
___ aficionados
fan, enthusiast
___ anomalous
___ atoning
not fitting into a common or familiar type,
classification, or pattern; unusual
an odd, peculiar, or strange condition, situation,
quality, etc.
predicting or presaging imminent disaster and total or
universal destruction
to make amends or reparation
___ bonhomie
a good-natured manner; friendliness
___ contrails
a white trail of vapor following an airplane
___ conventional wisdom
___ diametrically
something that is generally believed but may not be
true
extreme opposites
___ embed
to fix into a surrounding mass
___ exacerbated
to increase the severity
___ extortionary
___ glommed
obtaining money or some other thing of value by the
abuse of one's office or authority.
grabbed onto
___ guffaws
a loud, unrestrained burst of laughter
___ hyperliterate
extremely literate
___ immutable
unchangeable
___ indignation
strong displeasure
___ pummeled
to beat or thrash with or as if with the fists
___ quiescent
quiet, still, inactive
___ racketeering
an organized illegal activity, such as bootlegging or
the extortion of money from legitimate business
people by threat or violence.
the science or technique of classification
___ anomaly
___ apocalyptic
___ taxonomical
**Any additional unfamiliar words found, make note of them and their meaning and
you’ll obtain some extra credit!
Basic Concepts:
Fixed and variable costs of production
Labor markets (resource markets)
Supply, demand, and equilibrium price
Specialization of labor
Incentives; conflicting incentives
Effect of technology on the market
Monopolies
Discussion Questions:
1. What is the first trick to asking questions?
2. Who coined the phrase, “conventional wisdom”?
3. Explain why it is important to ask questions about conventional wisdom?
4. The author gives us several examples of conventional wisdom in this chapter and
gives us the background of their “birth”, write about one of these examples.
Include in this paragraph the incentive that may have motivated the forming of
this “wisdom”.
5. Considering this chapter’s analysis of the transformation of Listerine from an
antiseptic to a cure for halitosis, what can one conclude about the effect of
advertising on market demand for a good or service?
6. Describe how Sid became involved in the Black Disciples.
7. List the “jobs” that members of the gang have.
8. Describe J.T. job and responsibilities in the Black Disciples.
9. Sketch an organizational chart of the gang so we know who reports to whom.
10. If you are a member that is at the bottom of that chart and have the most
dangerous job in America, why would you take that job?
11. What are monthly costs incurred by J.T.’s unit of the Black Disciples?
12. Identify costs that would be considered fixed costs? (costs that remain the same
each month)
13. Identify costs that would be considered variable costs? (costs that will change
from month to month depending on circumstances)
14. Explain how “tournament” or “winner takes all” labor market works. Why would a
street-level drug dealer be willing to accept low pay and poor working conditions?
15. How do the incentives of the street-level drug salesman differ from those of the
gang leader/franchise owner? Are they both attempting to maximize the profits
of the gang? Why or why not?
16. According to the data cited in this chapter, civil rights laws and a shift in the
attitudes in the US regarding race helped to improve the status of black society.
How did crack cocaine alter that progress?
17. Based on the examples in this chapter, what does the invention of better and
cheaper production methods do to the price and sales of a good or service?
―What you have Learned‖ Essay (One class period) (Rubric Scoring)
Using proper essay format (double-spaced, Times New Roman, size 11)
construct an essay proving to me what you have learned by running this simulation.
Remember to begin with an introductory statement citing two or three (or more)
concepts that you have learned about. Follow that paragraph by two or three (or
more) paragraphs proving and providing examples of what you have learned. Close
with a concluding paragraph. Be sure to proofread for spelling, sentence structure and
grammar errors.
4. Final Assignment—Personal Interview (Rubric Scoring)
Interview a local entrepreneur to find out how the characteristics, motivations,
and experiences
have led to their success. Use the following list of questions as a
guide for conducting your interviews. NOTE: The interviews may be conducted in
person, email, chat room, or by phone.
1. Why did you decide to start your business?
2. Was there a particular incident that led you to your decision to start a
business?
3. What persons influenced you as you developed your business?
4. How did you decide to start this particular type of business? Where and
how did you develop the expertise or the idea for this particular business?
5. What is your educational background?
6. What educational experiences helped you to be more successful?
7. Where and how did you learn the skills you needed to become
successful?
8. What is your primary motivation?
9. What personal characteristics do you possess that contribute most to your
success?
10. What are the personal advantages to you of owning our own business?
11. What is the most exciting aspect of owning your own business?
12. What barriers did you overcome in starting your business?
13. Do the advantages of owning your own business outweigh the
disadvantages? Please explain.
Feel free to ask additional questions or follow-up questions as you have your
conversation with the business owner.
After the interview, write up the owner’s answers in an essay form to hand in to
me. Include your rough draft (or the paper you took notes on), what type of business
the owner operates and what services/products they offer, length of time they have
been in business, etc. Also include personal observations and whether you would like
to own your own business some day with an explanation.