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Week 6/ September 11 to September 15

:September 13 2017

Standard:

SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economic questions of what to produce, how to produce, and for whom to produce.

b. Evaluate how well each type of system answers the three economic questions and meets the broad social and economic goals of freedom, security, equity, growth, efficiency, and stability.

EQ: How does an economic system reflect a society’s goals?

 

Activator:

Students will read quotes that will be projected on the board.  They will identify the goals that this economy is trying to follow, and what types of economy is being described.

 

Teaching Strategies: 

Students from groups will present their findings.  This will lead to discussion of problem with command economies.  Students will be told weaknesses of command economy as big takeaway.

Economic Systems Notes CLICK HERE

If extra time on this day, time will be spent explaining the assignment that students will work on and complete the next day.

Summarizer:

Socrative Exit on goals and Command Economies

Differentiation:

Students will present findings from previous class.

 

September 14 2017

Essential Question:

SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economic questions of what to produce, how to produce, and for whom to produce.

  1. Compare command, market, and mixed economic systems with regard to private ownership, profit motive, consumer sovereignty, competition, and government regulation.

EQ:  How does an economic system reflect a society’s values?

 

Activator:

Classnotes:

There are no pure market economies left in the world.  There are problems with a laissez-faire style economy, and therefore there are certain reasons for government to get involved, leading to a mixed economy.

Laissez-Faire means pure free market; government “hands-off”

 

Reasons for Government Involvement in a Market-based Economy

1. Redistribution of Income

2. Protection of Private Property Rights

3. Provide Public Goods and Services

4. Correcting Market Failures (Externalities)

 

Students will answer the following question on Todaysmeet.  Is greed good?  Yes or No?  Explain your answer.

 

Teaching Strategies: 

Students will learn about capitalist/ market economies.  They will learn about the key components of capitalist economies: private ownership, consumer sovereignty, profit motive, competition.  Students will then watch clip of Milton Friedman and discuss.

Come back to map of North and South America.

This will lead to general discussion of capitalism.

Students will be asked to use worldmapper to find countries that are capitalist, and compare to countries that are not.

Countries ranked by economic freedom CLICK HERE

Worldmapper CLICK HERE

Students will identify 3 capitalist/ free countries and 3 non-capitalist/unfree countries.  They will indicate where they ranked on the freedom scale. They will also write in 3-4 sentences why that country is ranked the way it is.  In other words why is is free?  Why is it unfree? They will list the countries from freest, to least free.  They will then use worldmapper maps to compare the countries on 3 different categories.  They should choose categories that can help represent success or failure based on economics.  SO they could not do weather.  They will make statement like "Korea has more deaths than Iran."  They will make a total of 6 statements, 1 for each country.  Additionally for each statement they will include a statement that says "because _____(one country).  is freer/less than ______(another country)". Each country will be one they have ranked.  The only two things students will research is the 6 countries and three different things to compare the countries on.

Summarizer:

Socrative Exit Ticket

Differentiation:

Independent research

 

September 15 2017

Standard:

SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. 

a. Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.

b. Explain the role of money as a medium of exchange.

EQ: How does an economic system reflect a society’s values?

 

Activator:

Classnotes:

A market economy can be illustrated through a circular flow diagram.  This shows the interaction between households and businesses in the factor or resource market and the product market.  The exchange of resources, goods, and services takes place through the exchange of money.  A market is where people meet to buy.

Factor or Resource Market:  Households sell their factors of production (especially labor) to businesses in exchange for income.  You participate in this market when you go to work.

Product Market:  Businesses sell final consumers goods and services to households.  These are created using the factors of production the business purchases in the factor market.

 

(Circular Flow Model)

 

 

What were the four characteristics of a market economy?  Tell me on todaysmeet.  Pick one and define it in detail.

 

Teaching Strategies: 

Students will be introduced to and worked through the circular flow model of a market economy.

A handout is available for them to use and fill out.  It is available under Unit 2 Economic Systems and is entitled Circular Flow Activity.

Students may answer questions that go with activity as time allows.

 

Summarizer:

Socrative Exit ticket

Also, have students download SHOWME.  Discuss the project on the following day as time allows.  Provide class with teacher example.

Differentiation:

Teacher lead instruction followed by student projects.

 

 

BELOW MOVED DUE TO HURRICANE DAYS

 

September 14 2017

Standard:

SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.

a. Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.

b. Explain the role of money as a medium of exchange.

EQ: How does an economic system reflect a society’s values?

 

Activator:

Classnotes:

Medium of Exchange:  Money is our medium of exchange.  It facilitates the flow of goods, services and resources throughout the economy.  If we did not have money, we would have to rely upon barter which would be much less efficient.  People are willing to accept money.

 

 

Students will first draw a circular flow on their own.

Students will label a circular flow model as a class.

 

Teaching Strategies: 

Download SHOWME

Download Socrative Teacher and create a teacher account.

Using SHOWME, students will create a "story" that walks some through the circular flow model.  Students will be allowed to create whatever product they like on SHOWME as long as it includes the following:

 

Product Market (12 points)

Factor Market (12 points)

Households (12 points)

Firms/ Businesses (12 points

Goods and Services (12 points)

Factors of Production (12 points)

Money as a Medium of Exchange (12 points)

6 question Socrative quiz (25 points)

Students will not simply copy model but make a creative product that discusses how the model works.  Each concept must be fully explained with a least 3 sentences.  Each concept must have at least two images that are relevant.

Students do not need to record a voice over, and simply need to let the video play as each slide can be paused and viewed independently.  

The SHOWME must be at least 10 slides with one slide as the title page.

 

Here is an example: CLICK HERE

http://www.showme.com/sh/?h=w2n0Swq

To see where I built the SHOWME from go to Unit 2 Economic Systems and select the file entitled Circular Flow Infrographic PDF.pdf.  You may want to create something first, before you place it in the SHOWME.

 

Summarizer:

Teacher check of work.  Students may share as time allows.

Students may be provided with an additional day to work on project as necessary.

Students will be provided notes and study guide for quiz.  Avaliable under Unit 2 Economic Systems folder entitled Economic Systems Quiz Notes and Economic Systems Quiz Study Guide.

 

Differentiation:

Project creation

 

September 15 2017

Essential Question:

SSEF4 The student will compare and contrast different economic systems and explain how they answer the three basic economic questions of what to produce, how to produce, and for whom to produce. 

a. Compare command, market, and mixed economic systems with regard to private ownership, profit motive, consumer sovereignty, competition, and government regulation.

b. Evaluate how well each type of system answers the three economic questions and meets the broad social and economic goals of freedom, security, equity, growth, efficiency, and stability.

 

SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. 

a. Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.

b. Explain the role of money as a medium of exchange.

 

Activator:

Students will be asked to define or identify a list of terms on the board.

 

Teaching Strategies: 

Teacher will answer any final questions.

Students will take a quiz on economic systems.

 

Summarizer:

Students will watch a video on mixed economies.  On todaysmeet they will be asked to respond to this question:  How is the government involved in a mixed economy.  CLICK HERE to watch the video.

https://www.youtube.com/watch?v=Ht-K0xR-5Ws

Differentiation:

 

 

September 18 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy. 

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

 

Activator:

Classnotes:

Redistribution of Income

This is one way a market-based economy seeks to achieve more equity and security.  They tax the population and give money (i.e. tax and transfer) to specific individuals and programs.  This includes Social Security, Temporary Aid to Needy Families (Welfare), Food stamps, etc.

Students will consider the following questions: What were the bad things about a market?  What were the good things?  What were the bad things about command economies?  What were the good things?  Generalize:  What is the solution?  

 

Teaching Strategies: 

Students will watch Commanding Heights video clips:  Roosevelt sees the Great Depression as the failure of capitalism.  Lenin seeks to add back in elements of private ownership.  As students watch, have them relate the clips to the development of mixed economies.  Explain to students that there are four primary reasons for government to get involved in market economy:  Redistribution of Income, Providing Public Goods and Services, Protecting Private Property Rights, and Correcting Market Failures.  Have students name all of the redistribution programs they can think of.  Go over list.  Why do we redistribute income? Have students examine a series of maps and graphs. Evaluate:  Is this good data to use for redistribution of income.  

Nearpod is available at: WRJOU (FIND NEARPOD)

(Smart presentation??)

Summarizer:

Socrative Exit Ticket.

Differentation:

 

September 19 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy. 

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

 

Activator:

Classnotes:

Provide Public Goods and Service:

There are certain goods and services that would be under-produced if left to the market.  These include roads, fireworks, defense, etc.  They would be under-produced due to the free-rider problem, which means that people can use and enjoy a good or service and not have to pay for it.  To fix this problem, the government taxes everyone and provides the service to all.

 

Warm up questions reviewing redistribution of income.

 

Teaching Strategies: 

 "Pop" Quiz on philosophies behind redistribution.  Have students "pay" a dollar for answers. Act like you can't find copies.  Place answers on the board.  Set up free rider problem.  Define free rider problem and give characteristics of public goods.  Key idea: Public goods would be under produced due to the free rider problem.  Have students list out various public goods provided by government.  Which goals do these goods push society toward?  Show students video of Tennessee fire department letting house burn. People did not pay fire protection fee.  Discuss implications.  Go over series of scenarios having students place them in their appropriate category.

https://www.youtube.com/watch?v=PwJrPa8Ps7A

Handout and activity is available under Unit 2 Economic Systems entitled PUBLIC GOODS. CLICK HERE

Public Goods Activity CLICK HERE

Summarizer:

Socrative Exit Ticket.

Differentiation:

 

 

 

September 18 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy. 
a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures. 
b. Give examples of government regulation and deregulation and their effects on consumers and producers. 

EQ:  Why does government intervene in a market economy?

Activator:

Classnotes:

Protecting Private Property Rights:

Since private ownership is key to a market, there must be rule of law to protect that property.  In addition, government serves to protect intellectual property by giving patents and copyrights.  This gives individuals the incentive to go out and innovate so that they can expand their own material well-being, and help us in the process!

What are some types of private property?  Tell me on Todaysmeet.

 

Teaching Strategies: 

As a class, examine property that students identified.  Classify into two types:  Physical  and Intellectual.  Tell students that we are going to discuss why government steps in to protect private property in a mixed economy.  Ask students:  Why does our physical property need to be protected?  Students suggest answers.  Put ideas on smart board. Tell students that one particular reason for government to protect private property is because it leads to more efficiency.

Have four student volunteers.  Put paper clips on the floor.

Round 1: Students get 1 jolly rancher for each rhino that they kill.

Round 2: Students get 1 jolly rancher for each rhino that they kill and 2 for each rhino that is left alive after 20 second period.

Round 3: Clearly assign property rights.  Same incentive as R2.  This time rhinos will live.

Debrief simulation with students.  Why did rhinos survive in 3rd round?  Government clearly defined and protected property rights.  Key idea:  When our private property is clearly identified and protected, those resources are more efficiently used. Segue to intellectual property – have students give more examples.  Why does government protect intellectual property?  Students give ideas. Watch John Stossel video on the pharmaceutical industry.  Viewing focus:  Why does government protect the intellectual property of these pharmaceutical companies and allow them to charge so much for medicine?  Students will comment on video in a discussion strand. Debrief video by discussing student responses.

John Stossel Video: CLICK HERE

https://www.youtube.com/watch?v=SIhbQlib4Tw

Presentation is available under Unit 2 Economic Systems entitled Property Rights.

Summarizer:

Socrative Exit Ticket

Differentiation:

Guided Notes, Simulation

 

September 19 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy. 

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

 

Activator:

Classnotes:

Correcting Market Failures (Externalities)- Sometimes the market does not distribute costs efficiently. People wind up bearing external costs from the actions of others.  These are called negative externalities.  Examples of this include pollution, second-hand smoke, loud music, etc.  The role of government is to come in and place regulations or taxes on the groups involved in the behavior to reduce the spill-over costs.  (**Actions that provide external benefits are often provided as public goods, such as education.)

 

--

Give statement:  Market failures occur when there is some type of externality created.  Brainstorm what an externality might be.  Focus on the key components of the word “externality.”  Hint:  One example of an externality is when you breathe in second-hand cigarette smoke.

Teaching Strategies: 

Show whistle tips video as an example of an externality.  Have students use the video to derive what an externality is.

CLICK HERE

How is an externality a market failure?  Discuss.  Key idea is that other people bear costs or gain benefits of actions that certain people take.  Nearpod is avalaible at MPBQT

Have students come up with other examples of market failures. (Both positive and negative)

Examine how government intervenes to correct market failures.  Ask students to brainstorm in elbow partners, how we fix problems like second-hand cigarette smoke, whistle tips, and pollution.  Discuss.

Students will complete several scenarios related to market failures.  Avaliable under Unit 2 Economic Systems entitled Market Failure Case Studies.

Market Failures Case Studies CLICK HERE

Whistle Tips Video

https://www.youtube.com/watch?v=JZD-ADArwXo

 

Presentation is available under Unit 2 Economic Systems entitled Externalities CLICK HERE.

 

Summarizer:

Socrative Exit ticket

 

September 20 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy. 

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

 

Activator:

Classnotes:

Classnotes:

 

A regulation is a rule or law placed on businesses by government.  More regulation tends to increase costs for producers and prices for consumers.  However, there tends to be increased safety, quality, or product clarity when regulations are in place.  Regulations causes higher prices and higher costs for consumers and producers.  Deregulation is the removal of laws placed on business, and lead to lower prices, more choices for consumers, Lower costs, more competition for producers

-

Students will take pretest covering providing public goods and services, redistributing income, protecting property rights, or resolving market failures.  This quiz will be used to place students into groups.

Teaching Strategies: 

Explain to students that we have taken a very brief and limited look at government’s role in a market economy.  It is now their turn to go a little deeper.

Divide students into differentiated groups based on last quiz scores.  Assign groups one of the four topics (providing public goods and services, redistributing income, protecting property rights, or resolving market failures.)  Topics assigned to groups will be based on their Socrative assessments.  Each group will be assigned one that the group as a whole did poorly on.

Students will be required to make an outline or storyboard for their video.

Students will then make a 3-5 minute video that includes reasons, issues, and examples of government involvement.  Students will then be required to share their video.

Students will be required to create a short assessment to go along with their video that will be delivered to students.

** Students who are absent more than one day this week will do an alternate essay assignment.

Unit 2 Project CLICK HERE

Project Rubric CLICK HERE

Summarizer:

Teacher Check of Work.  Students will be provided with a detailed schedule they should follow.

Differentiation:

Students will be grouped based on pretest.

 

September 21 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy.

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

Activator:

None Project work day.

Teaching Strategies: 

Students will continue to work on projects.

Summarizer:

Teacher Check of Work.  Students will be provided with a detailed schedule they should follow.

 

 

September 22 2017

Essential Question:

SSEF5 The student will describe the roles of government in a market economy.

a. Explain why government provides public goods and services, redistributes income, protects property rights, and resolves market failures.

b. Give examples of government regulation and deregulation and their effects on consumers and producers.

EQ:  Why does government intervene in a market economy?

Activator:

None Project work day.

Teaching Strategies: 

Students will continue to work on projects.

Summarizer:

Teacher Check of Work.  Students will be provided with a detailed schedule they should follow.

Class will present project on following class day.

Differentation:

 

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