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Civics and Economics Day 50 combo Goal 8.01 Essential Questions: 8.01 How does a market economy protect consumers? • 8.01 What are the advantages and disadvantages to consumers when the government intervenes in the economy? • 8.01 Why might a nation choose one economic system over another? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Markets/Competition) (Globalization) Buyers and sellers Multinational Monopoly Conglomerates Oligopoly Competitive market Mergers Horizontal merger Vertical merger Conglomerates Civics and Economics Day 51 combo Goal 8.02 Essential Questions: 8.01 How does a market economy protect consumers? • 8.01 What are the advantages and disadvantages to consumers when the government intervenes in the economy? • 8.01 Why might a nation choose one economic system over another? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Mixed Market) Private property Voluntary exchange Patents Copyrights Productivity Specialization Division of Labor Efficiency (Free Enterprise) Goals for Free Enterprise Security Equity Freedom Full employment (COMBO LESSON) New 12/14/2011 Starting the Lesson Students will view a short video on saving money followed by discussion. Presentation Students will view a power point on Free Enterprise and the Business Cycle & discuss Supply & Demand. Guided Practice/Independent Practice Students will complete a goal 8.02 worksheet on ownership & intellectual property. Independent Practice Make car advertisements, trace how competing dealerships entice potential buyers to their brands and products. Evaluation Students will construct their own circular flow model. Closure Students will complete their classroom exit cards and answer the following questions: What did I learn? What did I not understand? What do I need to review? Word Wall (blinds) Civics and Economics Day 52 Goal 8.03 Essential Questions: • 8.03 How would a disruption in any segment of the circular flow of economic activity impact the other parts? • 8.03 How does the capitalist system of economic exchange promote economic interdependence? • 8.03 What impact does government regulation have on the circular flow model? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Markets) (Economic Activity/Exchange) Factor Market (household) Circular flow model Product Market (business) Wages Salary Economic interdependence Starting the Lesson Bell Ringer Review Presentation Students will view a power point on the Business Cycle Guided Practice/Independent Practice Students will fill in a graphic organizer on types of businesses & the US banking system Evaluation Students will answer questions on Supply and Demand. *if time/ Word Wall Closure Students will complete their classroom exit cards and answer the following questions: What did I learn? What did I not understand? What do I need to review? Civics and Economics Day 53 Goal 8.04 Essential Questions: • 8.04 How does the government affect supply and demand schedules in the U.S. economy? • 8.04 Why do consumers choose substitute goods and how do these goods impact price? • 8.04 What factors affect a household’s disposable income? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Demand) (Influences on Supply/Demand) Demand Curve Personal income Demand schedule Disposal income (Supply) Complimentary goods Supply curve Substitute goods Supply schedule Equilibrium/Market price Starting the Lesson Bell Ringer Review Presentation Students will view a power point on Competition & fill in the blanks on their notes. Guided Practice/Independent Practice Students will review economic vocabulary by creating their own Word Wall terms. Evaluation Students will take an Economic Systems test. Closure Students will complete their classroom exit cards and answer the following questions: What did I learn? What did I not understand? What do I need to review? Civics and Economics Day 54 Goal 8.05 Essential Questions: 8.05 What are the pros and cons of wage and price controls and what affect do these have on the economy? • 8.05 How do consumers and markets react to both shortages and surpluses? • 8.05 What role does the government play when either a shortage or surplus of goods and services exists? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Price Change) Inflation Surplus Deflation Shortage Wage and price control Consumer Tastes Interest rates Minimum wage Starting the Lesson Bell Ringer Review Presentation How do Corporations raise capital? notes Guided Practice/Independent Practice Trade & Investment worksheet/ Graphic Organizer Evaluation Word Wall Terms Closure Students will complete their classroom exit cards and answer the following questions: What did I learn? What did I not understand? What do I need to review? Civics and Economics Day 55 Goal 8.04 Essential Questions: • 8.04 How does the government affect supply and demand schedules in the U.S. economy? • 8.04 Why do consumers choose substitute goods and how do these goods impact price? • 8.04 What factors affect a household’s disposable income? Major Concepts: Change, Power, Influence Minor Concepts: Competition, Markets, Price, Globalization Factual Content (Demand) (Influences on Supply/Demand) Demand Curve Personal income Demand schedule Disposal income (Supply) Complimentary goods Supply curve Substitute goods Supply schedule Equilibrium/Market price Starting the Lesson Bell Ringer Review Presentation Students will be given an oral review of material we have gone over. Evaluation Students will take their choice of an essay test or multiple choice test for Goal 8 CE. Closure Students will complete their classroom exit cards and answer the following questions: What did I learn? What did I not understand? What do I need to review?