Tuesday September 2, 2014
Mr. Goblirsch – Economics
OBJECTIVE – Students Will Be Able To – SWBAT:
- Demonstrate knowledge of Free and Centrally Planned economies through a
simulation of creating an economic system.
AGENDA:
1)
2)
3)
4)
WARM-UP: How My Life Would Be Different Journal
GUIDED ACTIVITY: Russia in Crisis (P. 39)
ACTIVITY: Designing An Economic System
CLOSURE: What I need to Know for Tomorrows Quiz
***Chapter 2 Quiz TOMORROW – WED 9/3***
**Workbook Pgs. 21 & 23 DUE TOMORROW**
How My Life Would Be Different WARM-UP: (Follow the directions below)
***5 minutes***
Write a ½ page journal entry on the topic below.
1)
2)
In the United States, we have a mixed economic system based on a Free
Market, with some elements of a Centrally Planned system.
If the U.S. began using a pure Free Market system (completely free), 2 ways
my life would change would be …
If the U.S. began using a pure Centrally Planned system (completely unfree), 2
ways my life would change would be …
SIMULATION:
Creating an Economic System
OBJECTIVE - Demonstrate knowledge of Free and Centrally Planned economies
through a simulation of creating an economic system.
1)
2)
3)
Get into groups of 6-8.
Select a slip with an economic
system.
WITHIN YOUR GROUP:
1)
2)
3)
4)
5)
6)
Discuss each economic system with
your
group. (You will be advocating for the
economic system on your slip).
Delegates (representatives) of each
system should present the benefits
of their system.
Delegates should present drawbacks
of the other system.
Negotiate to create a economic
system.
Fill out the chart based on the
economic system you agree on.
QUESTION
TO BE ANSWERED
1) Who decides how
resources will be allocated?
2) Who owns the factors of
production?
3) Who determines what
goods & services will be
produced?
4) Who determines prices?
5) How is income
distributed?
6) Must all members
contribute equally?
7) What social benefits does
the system supply?
8) What is the role of
government in the
economy?
HOW DEFINED
IN YOUR ECONOMY
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Free Market
(Capitalist,
Democratic)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
Centrally
Planned
(Socialist,
Authoritarian)
CLOSURE: What I NEED
To Know For TOMORROW’S Quiz
Advantages & Disadvantages of Free Market
& Centrally Planned economies
3 key economic questions
Identify the economic goals (describe how they
sometimes conflict)
Specialization
Capitalism characteristics
“Invisible hand”
Factor & Product markets
Why most modern economies are mixed