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Mohawk High School Lesson Plan

Economics for the 21st Century

Grade 11, 12 Mr. Stobbs H113 Periods 2, 6/7, 9

Lesson Plan (Unit 2): Government and the Economy: The Role of property in a free Economy.

Date(s): 03/23 – 04/03/2015

Ohio Content Standards Topic – Government and the Economy: The health of a nation’s economy is influenced by governmental policy. Fiscal policy can be used to spur economic growth. Monetary policy can be used to moderate fluctuations in the business cycle.

Common Core Connections:

National Standards in Economics:

Standard 16: There is an economic role for government in a market economy whenever the benefits of a government policy outweigh its costs. Governments often provide for national defense, address environmental concerns, define and protect property rights, and attempt to make markets more competitive. Most government policies also redistribute income.

Standard 20: Students will understand that the federal government budgetary policy and the Federal Reserve’s monetary policy influence the overall levels of employment, output, and prices.

• Benchmark 7, Grade 12: Monetary policies are decisions by the Federal reserve System that lead to changes in the supply of money, short-term interest rates, and the availability of credit. Changes in the growth rate of the money supply can influence overall levels of spending, employment, and prices in the economy by inducing changes in the levels of personal and business investment spending.

Ohio Content Statements:

• A nation’s overall level of economic well-being is determined by the interaction of spending and production decisions made by all households, firms, government agencies ad others in the economy. Economic well-being can be assessed by analyzing economic indicators gathered by the government.

• Economic policy decisions made by governments result in both intended and unintended consequences.

Objectives:

As a result of this lesson, students should be able to:

• Classify government economic activities according to the six economic functions of government.

• Analyze governmental economic actions within the liberal (progressive)/ conservative framework.

Time Period (this plan): 5 class periods

Materials:

• Text: Thirty-Second Economics

• PowerPoint Lecture: “The Economic Functions of Government”

• Syllabus

• White Board, Computer, Voice Amplifier

• Student Notebooks and pens, pencils

• Calculators

• Handouts: See individual activity plans for additional day-to-day requirements

• Student access after school or during study hall to Internet required.

Assessment:

• Pre-post tests

• Homework and practice sets

• Exercises

• Reflective-analytical writing

• Quiz

• Whole-class discussion

• Oral probes

CARRIED OVER HOMEWORK:

1. You have been assigned SIX NEW LESSONS at EconLowdown. They are each part of a series on the Great Depression, and cover both new and review material. You are assigned to complete THREE LESSONS AT A TIME. LESSONS ONE, TWO AND THREE MUST BE COMPLETED BY SUNDAY, 10:00 P.M., MARCH 22. LESSONS FOUR, FIVE ND SIX MUST BE COMPLETED BY SUNDAY, APRIL 5.

2. GIVEN: Market managers will post on Monday the closing prices and/or percent changes in the class investment stock and mutual fund portfolios, as reported at the close of the market on the previous Friday (Five-Day Percent Close) TASK: By FRIDAY (Payday) OF EACH WEEK FOR THE NEXT TWELVE WEEKS), calculate and plot on a graph the closing value of your personal basket of stocks and funds. EXAMPLE, using five fictitious Mutual Fund Shares:

FAXFS: - .01%

BADXG: + 1.0%

GBISF: + .02%

BDIFD: - .30%

XGFWD: +1.0%

By adding together and averaging the percent changes in the values of these funds as reported on Friday’s close, we see that this portfolio gained 1.71%. If you had initially invested F1,000 in this portfolio, it would now be worth F 1017.10 [ (1,000 x .0171) + 17.10 = 1017.10 ]. NOTE: You can track this yourself at Yahoo Finance. Enter the stock symbol, hit the “Search Finance” tab, then click on the graph tab that is labeled “5d” – the last figure it shows will be the % change for the week.

NEW HOMEWORK:

1. WARNING: INDIVIDUAL PROJECTS DUE FRIDAY, MARCH 27. NO RESUBMISSIONS AT THIS POINT, SO GET IT RIGHT. REMEMBER: NO INDIVIDUAL PROJECT = DO NOT PASS THE COURSE. LATE PENALTY = 10% PER DAY OFF THE TOTAL POSSIBLE GRADE.

2. Economic Functions of Government homework from lesson – DUE TUESDAY, March 24.

3. Read the following pages in your textbook: 142 - 149. This material will be tested at the end of the unit. Pages 142 & 143 must be completed by the beginning of class on Wednesday, March 25.

4. Complete questions frm The Road to prosperity. DUE THURSDAY, MARCH 26.

5. Compose reflective essay on “The Goldfish Game.” Instructions will be provided after the experiment. DUE FRIDAY, MARCH 27.

PROCEDURE: March 23 – 27, 2015.

Monday:

1. Review assessment from Friday – trade and grade

2. Discuss and re-teach, as needed.

3. Brief Tuesday experiment

Tuesday:

1. Economics laboratory: “The Goldfish Game.” See FTE Master Lesson Plan for instructions.

Wednesday:

1. Introduce film, The Road to Prosperity (20 minutes)

a. Distribute Question Guide, review.

b. Show film.

c. Instruct students to answer questions in complete sentences; due on Thursday.

2. NOTE: JV Titan Teams are excused from lessons on Wednesday and Thursday to practice. See Mr. Stobbs to arrange time to view the film. See Lesson Plan Page for PowerPoint, which includes study materials, exercise, homework, and assessment. Turn in all work as a packet on Monday, March 20.

Thursday:

1. Introduce topic “Tragedy of the Commons” by administering “mini-quiz” over assigned reading from pages 142 and 143.

2. Review Quiz: Trade and Grade.

3. Show film Clip Stossel: Tragedy of the Commons” (YouTube video, 11 minutes).

4. Ask students if they can think of any examples of the Tragedy of the Commons at work in their communities.

Friday:

1. Pay Day Activities:

a. Spin the Wheel of Life to determine your economic future.

b. Investors: Work on portfolios and graphs. .

c. Calculate and deposit pay.

d. Calculate Interest.

e. Write checks.

PROCEDURE: Week of March 30

Monday, Tuesday:

1. IN TEAMS: Read Introduction, Part Six, The Economics of Public Issues (Thirteenth Edition). Discuss.

2. IN TEAMS, READ and ANSWER either Ch. 24, 25, 26, or 27. Work together to answer the discussion questions at the end of the chapter.

Wednesday, Thursday:

1. Each team presents a five-minute summary of their chapter, focusing on the discussion questions to teach their peers the chapter.

Friday: No School.

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