The Economy of One - Grade 11 by pfh17972

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									                       The Economy of One – Grade 11

     Ohio Standards           Lesson Summary:
      Connection:             This lesson focuses on the roles individuals play within an
Economics                     economy. It involves students in the real world by having
                              them identify how they could play each of the five roles in
Benchmark E                   the economy. The focus then shifts to how different public
Explain the use of a budget   policies affect individuals in each of their five roles. In
in making personal            pairs, students complete research on a particular public
economic decisions and
planning for the future.
                              policy and its effects on individuals in each of their five
                              roles. The complexity of public policy issues and relevant
Indicator 12                  arguments on both sides of each issue are addressed. The
Explain the role of           lesson concludes with students completing essays defining,
individuals in the economy    explaining and giving examples of each of the five roles of
as producers, consumers,
savers, workers and
                              individuals in the economy.
investors.
                              Estimated Duration: One hour and 30 minutes to two
Citizenship Rights and        hours
Responsibilities

Benchmark B                   Commentary:
Explain how the exercise
of a citizen’s rights and
                              This lesson helps students become more familiar with their
responsibilities helps to     roles in the economy and the impact of public policy on
strengthen a democracy.       their economic well-being.

Indicator 6
Explain how citizenship
                              Pre-Assessment:
includes the exercise of      Have students complete Attachment A, Pre-Assessment Web,
personal responsibility and   indicating how they fulfill each of the five roles below:
active participation in a     • Producer (e.g., providing dog walking service for a pet
democracy including:              owner);
a. Behaving in a civil
     manner;                  • Consumer (e.g., purchasing dog food to feed dogs at
b. Being fiscally                 home);
     responsible;             • Saver (e.g., putting money in an Education IRA for
c. Accepting                      veterinary school);
     responsibility for the
     consequences of one’s    • Worker (e.g., working as a kennel worker to help pay way
     actions;                     through veterinary school);
d. Practicing civil           • Investor (e.g., purchasing stock in ABC Dog Food
     discourse;                   Company).
e. Becoming informed on
     public issues;
f. Voting;                    Scoring Guidelines:
g. Taking action on           Collect and check papers for understanding (make sure
     public issues;           students give appropriate examples) for each of the five roles
h. Providing public           of individuals in the economy. Use responses to the pre-
     service;
i. Serving on juries.
                              assessment to decide who is working toward the standard and
                              who is working beyond it. Review vocabulary for those


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                       The Economy of One – Grade 11

Social Studies Skills and     working toward the standard and use the extension activities
Methods                       to challenge students working beyond it.
Benchmark A
Obtain and evaluate           Post-Assessment:
information from public       Have students write essays that explain each of the five
records and other resources   roles of individuals in the economy by giving examples,
related to a public policy    similar to those in the pre-assessment. Instruct students to
issue.
                              address the impact (positives or negatives) of a specific
Indicator 1                   public policy on individuals in their roles as producers,
Identify a current public     consumers, workers, savers and investors.
policy issue and arguments
relative to the issue.        Scoring Guidelines:
                              See Attachment F for rubric.

                              Instructional Procedures:
                              Day One
                              1. Hand out Attachment A, Pre-Assessment Web. Based
                                 upon student answers, decide if a review of the
                                 vocabulary is necessary. If it is, then do a brief review.
                              2. Ask students to consider how roles have changed as
                                 globalization has created more world markets and
                                 increased international trade (e.g., Americans invest in
                                 foreign companies, U.S. workers compete with foreign
                                 workers and American producers can be part of multi-
                                 national corporations).
                              3. Divide students into pairs and hand out one copy of
                                 Attachment B, Policy Impact Comparison Table
                                 Example, to each set of students.
                              4. Read the instructions with the class, making sure every
                                 student understands what is expected.
                              5. Provide time and resources (text, magazines, Internet,
                                 encyclopedia, etc.) in class for students to complete the
                                 activity.
                              6. If students do not finish in class, have them complete
                                 Attachment B as homework.

                              Day Two
                              7. Tell students to get back into their pairs and take out
                                 their homework.




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                       The Economy of One – Grade 11


8. Project Attachment C, Engagement: Policy Impact Comparison Table Transparency and
    Key. Keep the answers covered until volunteers begin to share their pros and cons for
    each role.
9. As students share their ideas, reveal answers on the key and add any appropriate answers
    they provide. Tell students to record appropriate answers on Attachment B.
10. Focus student attention on the question at the bottom of Attachment C. Use it to lead into
    a brief discussion on arguments relative to the minimum wage. Be sure to point out that
    there are pros and cons to every public policy issue. Some people will benefit and some
    will not. Each individual may benefit in a particular role, but may not benefit in another
    of the five economic roles. Public policy issues are complex and students need to
    consider all angles and arguments before coming to conclusions.
11. Have students stay in pairs and distribute copies of Attachment D, Policy Impact
    Comparison Table, and Attachment E, Policy Impact Comparison Table Topics, to each
    set of students. Either assign a topic to each group or tell group members to choose one
    from the list, making sure each topic is covered by at least one pair.
12. Have students create a public policy statement based upon the assigned/selected topic.
    Tell students to research their policies on the Internet, in the library or in their textbooks.
    Have groups show how the policy they investigated affects the individual as a producer,
    consumer, saver, worker and investor by completing Attachment D.

Day Three
13. Allow time for students to complete research and discussion of their public policy issues.

Day Four
14. Have each group share its completed Attachment D.
15. Lead a discussion on the arguments the groups found for and against their policies, how
    the policies would affect individuals in each of the five roles and how the public policies
    discussed may have an impact on them now or in the future. Clarify or correct answers as
    needed.
16. At the end of class, distribute Attachment F, Post-Assessment Directions and Rubric.
    Read it with the students, making sure each student understands what is expected.

Day Five
17. Provide time in class for students to complete the post-assessment.

Differentiated Instructional Support:
Instruction is differentiated according to learner needs, to help all learners either meet the
intent of the specified indicator(s) or, if the indicator is already met, to advance beyond the
specified indicator(s).

•   Have students who are working beyond the indicator research current public policy issues
    on the Internet, in newspapers or news magazines. After finding policies, have students


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                      The Economy of One – Grade 11
    evaluate their impact on the individual as a producer, consumer, saver, worker or investor
    by making a multimedia presentation showing the statistical impact (percentage of
    decrease in production, unemployment, etc.).
•   Allow students working toward the indicator to explain examples of the role of the
    individual in the economy orally to the teacher.

Extensions:
• Have students complete research and compare how the five roles (workers, savers, etc.)
   are fulfilled in a market economy with how the same five roles are fulfilled in command,
   traditional and mixed economies. Have students create graphic organizers illustrating
   similarities and differences. Be sure to emphasize the roles that government and private
   firms play in each system.
• Have students review public policy statements issued by political parties. Then, have
   them use Attachment D, Public Policy Impact Table, to evaluate the impact of the party’s
   position on the issue.
• Bring in guest speakers to discuss how students can participate more fully in their five
   economic roles.

Homework Options and Home Connections:
• Have students write examples of how their family members fulfill the five economic
  roles.
• Have students examine the impact of a local public policy issue on their family members
  from the five different points of view.

Interdisciplinary Connections:
English Language Arts
• Research
    Benchmark E: Communicate findings, reporting on the substance and processes orally,
    visually and in writing or through multimedia.
    Indicator 2: Identify appropriate sources and gather relevant information from multiple
    sources (e.g., school library catalogs, online databases, electronic resources and Internet-
    based resources).

Materials and Resources:
The inclusion of a specific resource in any lesson formulated by the Ohio Department of
Education should not be interpreted as an endorsement of that particular resource, or any of
its contents, by the Ohio Department of Education. The Ohio Department of Education does
not endorse any particular resource. The Web addresses listed are for a given site’s main
page, therefore, it may be necessary to search within that site to find the specific information
required for a given lesson. Please note that information published on the Internet changes
over time, therefore the links provided may no longer contain the specific information related
to a given lesson. Teachers are advised to preview all sites before using them with students.

For the teacher: Overhead projector and pen, text and magazine resources.



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                     The Economy of One – Grade 11
For the student: Paper, pencil or pen, Internet and library access, magazines, newspapers,
                 textbooks.

Vocabulary:
• producer
• consumer
• investor
• saver
• worker
• public policy

Technology Connections:
• Have students complete research on Internet databases and online newspapers.
• Require students to use word processing programs to format their essays.
• Require students to use multimedia presentations to enhance their post-assessment.

Research Connections:
Marzano, R. Et al. Classroom Instruction that Works: Research Based Strategies for
Increasing Student Achievement, Alexandria, VA: Association for Supervision and
Curriculum Development, 2001.

       Homework and practice provide students with opportunities to deepen their
       understanding and skills related to content that has been presented to them.

General Tips:
Be familiar with what particular students do within the economy and have some examples in
mind to help guide class discussion.

Attachments:
Attachment A, Pre-Assessment
Attachment B, Policy Impact Comparison Table Example
Attachment C, Policy Impact Comparison Table Transparency and Key
Attachment D, Policy Impact Comparison Table
Attachment E, Policy Impact Comparison Table Topics
Attachment F, Post-Assessment Directions and Rubric




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                     The Economy of One – Grade 11
                                       Attachment A
                                      Pre-Assessment

Directions: In the center, place your name. Then, fill in each circle with an example of how
you might fulfill each role in the economy.




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                      The Economy of One – Grade 11
                                      Attachment B
                        Policy Impact Comparison Table Example

Directions: In pairs, discuss the public policy below. Then, fill in the chart, indicating the
pros and cons of the policy from the perspective of each of the five roles individuals play in
the economy. Be prepared to share your answers with the class.

Public Policy Statement: The minimum wage should be increased.

    Role                        Pros                                    Cons

Producer




Consumer




Saver




Worker




Investor




Based on the information you recorded in the chart, decide if increasing the minimum
wage would be a good public policy decision. In what roles would individuals benefit
and in which ones would they not? Would the benefits outweigh the costs?




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                    The Economy of One – Grade 11
                                  Attachment C
               Policy Impact Comparison Table Transparency and Key

Public Policy: The minimum wage should be increased.

   Role                     Pros                                   Cons

Producer     Demand might increase because       The cost of doing business might
             some people would have a higher     increase. Might have to lay off some
             income.                             employees or implement a hiring
                                                 freeze. Possible decrease in sales
                                                 outside U.S. Flexibility in decision
                                                 making is limited.
Consumer     Some people would have more         Costs of goods and services could
             money available to pay expenses and increase.
             make purchases.
Saver        Some people would have more         Some people would have less money
             money available to put in savings.  available for savings because of lay-
                                                 offs, etc.

Worker       Some people would have increased     Could lead to fewer jobs or hours
             wages.                               because producer has to pay more in
                                                  wages and, therefore, cannot afford as
                                                  many workers or hours. Could lead to
                                                  fewer fringe benefits to offset the
                                                  increased wages. Could lead to
                                                  outsourcing of jobs overseas because of
                                                  relatively lower wages in other
                                                  countries.
Investor     Some people would have more          Stock prices could go down as a result
             money available to put in            of lower profit margins for some
             investments.                         companies. Some people may have less
                                                  money to invest/reinvest because of
                                                  decreases in dividend income from
                                                  falling profit levels.
Based on the information you recorded in the chart, decide if increasing the minimum
wage would be a good public policy decision. In what roles would individuals benefit
and in which ones would they not? Would the benefits outweigh the costs?




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                      The Economy of One – Grade 11
                                       Attachment D
                              Policy Impact Comparison Table

Directions: In pairs, discuss the public policy you were assigned. Record the public policy
statement in the space provided below. Then, complete research on your assigned issue and
fill in the chart indicating the pros and cons of the policy from the perspective of each of the
five roles individuals play in the economy.

Public Policy Statement:

    Role                         Pros                                     Cons

Producer



Consumer



Saver



Worker



Investor



Based on the information you recorded in the chart, decide if the arguments in favor of
your public policy statement are greater than those opposed to it. In what roles would
you benefit and in which ones would you not? Would the benefits outweigh the costs?




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                     The Economy of One – Grade 11
                                    Attachment E
                        Policy Impact Comparison Table Topics


Broad Topics:
• Fiscal policy or taxes (e.g., increasing or decreasing specific types of taxes)
• Monetary policy (e.g., increasing or decreasing interest rates/money supply)
• International trade policy (e.g., implementing or removing trade barriers on a specific
   good/pulling out of the North American Free Trade Agreement or N.A.F.T.A/staying in
   N.A.F.T.A.)
• Internet (e.g., intellectual property rights issues or downloading music)
• Transportation (e.g., increasing or decreasing auto safety regulations/funding for public
   mass transportation/fuel efficiency standards)
• Medical (e.g., addition of Medicare drug benefit or prescription/generic drugs)
• Insurance (e.g., increased or decreased government regulation of health insurance issues)




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                        The Economy of One – Grade 11
                                         Attachment F
                             Post-Assessment Directions and Rubric

  Directions: Think about the five roles that we play in the economy. Then, write an essay that
  defines each of the five roles and gives an example of how we fulfill each one. Also, explain
  the impact (positives and/or negatives) of a specific public policy on us as individuals in each
  of the five roles.

                                              Rubric

                 5 points        4 points        3 points       2 points        1 point         0 points
Defines       Defines all     Defines four    Defines        Defines two     Defines one     Defines
Roles         five roles      of the five     three of the   of the five     of the five     none of the
              accurately.     roles           five roles     roles           roles           five roles
                              accurately.     accurately.    accurately.     accurately.     accurately.
Gives         Gives an        Gives an        Gives an       Gives an        Gives an        Gives an
Examples      accurate        accurate        accurate       accurate        accurate        accurate
              example for     example for     example for    example for     example for     example for
              each of the     four of the     three of the   two of the      one of the      none of the
              five roles.     five roles.     five roles.    five roles.     five roles.     five roles.
Explains      Explains the    Explains the    Explains the   Explains the    Explains the    Explains the
Impact of     impact of a     impact of a     impact of a    impact of a     impact of a     impact of a
Public        public          public          public         public          public          public
Policy        policy on       policy on       policy on      policy on       policy on       policy on
              individuals     individuals     individuals    individuals     individuals     individuals
              in each of      in four of      in three of    in two of the   in one of the   in none of
              the five        the five        the five       five            five            the five
              economic        economic        economic       economic        economic        economic
              roles.          roles.          roles.         roles.          roles.          roles.
Total Score




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