Unit Title: Understanding Different Economic Systems
Unit Description: This unit discusses some of the most basic principles of economic and political systems. The unit begins by exploring a free enterprise system, characterized by private ownership, competition, profit, and risk. The unit then explores other economic systems and the various political systems that go with them.
Essential Questions:
-Is money and weatlh important?
Unit Questions:
-Ho do economic resources influence a countries policy making decisions?
-How do the principles of supply and demand influence your life?
-What creates a successful economy?
Content Questions:
-How does supply and demand influence the price of a good?
-Why would a surplus cause a decrease in price?
-What are the four factors of production?
-What type of economy exists in the United States?
-What are the four processes of the business cycle.
-What are the differences between Capitalism, Socialism, and Communism?
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What a very timely topic you have selected! It would be very interesting to hear what your students think of the new stimulus plan. Your content questions are great and should surely lead to some very interesting debates in class.
ReplyDeleteI agree with dajohnson! I also think it helps the students understand money, expenses, and just more about making good finances decisions as adults. I think it helps them see our country a little more realistically instead of taking our liberties for granted.
ReplyDeleteThis is a great topic and it brings back good and bad memories from teaching Economics myself. One of the most difficult concepts to convey is that our economy is not centered around money, but around limited resources. Your questions fit very well into the three levels. I think you have done a great job including the basic factual questions about economic theory and relevant questions which they can apply to thier own experiences.
ReplyDeleteThanks for your class reflections. Your unit appears to be well though out at this point. While your essential question is ok, based on what you are saying and the other comments, I think you are really talking about freedom and our way of life along with the idea of wealth. A couple of possible ideas might be:
ReplyDeleteCan I really do what I want?
How much is enough?
Thanks.
What a great lesson at this time in our history. I think the only problem will be limiting the discussion! The children will certaintly be eager to discuss the economy in regards to all that they hear on the news and at home. Also, the global impacts that can be raised are enormous.
ReplyDelete