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Revolutionary Economics Lessons For World History Classes

Revolutionary Economics Lessons For World History Classes. Social Studies Staff Development Austin ISD Austin, TX February 12, 2010. Revolutionary Economics Lessons For World History Classes. Laura Ewing President/CEO Texas Council on Economic Education www.economicstexas.org

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Revolutionary Economics Lessons For World History Classes

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  1. Revolutionary Economics Lessons For World History Classes Social Studies Staff Development Austin ISD Austin, TX February 12, 2010

  2. Revolutionary Economics Lessons For World History Classes Laura Ewing President/CEO Texas Council on Economic Education www.economicstexas.org Laura@economicstexas.org 713-655-1650

  3. TCEE Provides – Interesting hands-on lessons that develop critical thinking skills for students in Economics, Social Studies, Math, and Career/Technical Education classes.

  4. Professional Development Economics Personal Financial Literacy Investor Education Student Activities www.economicstexas.org

  5. Stock Market GameBegan February 8 Team Fees are covered by Fidelity Investments 10 week live simulation Virtual $100,000 Trade stocks, bonds and mutual funds Grades 4 – 12

  6. Upcoming FREE TCEE Events Stock Market Game Economic Challenge Virtual Economics All Events are listed at www.economicstexas.org

  7. Virtual Economics FREE through 2/28/10 79 publications, 1200 lessons 28 publications 500 economic terms

  8. Economics Challenge March 29-April 2 Online competition April 13 State Finals Capitol April 26 National Finals Online David Ricardo Division National Semi-finals Online Adam Smith Division National Finals NYC Adam Smith Division

  9. Personal Financial Literacy and SMG Conference San Antonio Third or fourth week in June

  10. And The World History TEKS Say: Identify the historic origins of the economic systems of Capitalism and communism

  11. Concepts For Capitalism Lesson Self-interest Competition Government Regulation Markets Market Economy

  12. Lesson 8: Adam Smith and the Market Economy • Focus: Think, Pair, Share • What types of products do you like to buy? • What attracts you to those products?

  13. Market Economy What role do price and quality play in a market economy?

  14. Adam Smith Wealth of Nations, 1776 Invisible Hand Self-interest

  15. Market Economy As you read the article, look for Smith’s major points. Read Adam Smith and the Concept of Individual Self-Interest Discuss the article, particularly the role of self-interest.

  16. Market Economy: Simulation

  17. Market Economy 1. Decision Time: Confidential 2. Plan a marketing presentation

  18. Market Economy: Group A • 1. Group A Presents • What is your menu item? • Write the menu on the board. • What is the price? • Present an ad or reasons for group B to dine in your inn. • Each member of Group B will vote with • Ballot A using a secret ballot. • Group A: tally your profits • (number sold x income) -cost of production=profits.

  19. Market Economy: Group B • Present your best sales pitch as to why people should buy your product. • Group A members will each receive ballot B. • Tally results • Would you have made much money based on how many people were willing to buy?

  20. Market Economy: Strategy Will you reconsider your menu/investment? Why or why not? Answer the questions on Activity 5. Discuss your answers.

  21. Lesson 12: The Fall of Communism Objective: Analyze the effects of incentives present in the Soviet communist economic system upon the performance of the Soviet economy prior to market reforms.

  22. The Fall of Communism Concepts Economic System Command Economy Market Economy Incentives

  23. Focus: Think, pair, share: What are incentives that encourage you to work, do your homework and school work?

  24. Lesson On Communism: What are the goals of communism? How do you respond to this statement of goals? Each person in a society should receive an equal share of the output of goods and services that an economy produces…Each person should work, not for his or her personal gain, but for the good of the whole society.”

  25. How Do Market and Command Economies Answer These Questions?

  26. Readings on Soviet UnionMarket Economies and Command EconomiesShopping in the Soviet UnionWorkers’ Lives in the Soviet Union Read the three articles individually, then pair and share. How are economic decisions made? What role do incentives play? What are your thoughts?

  27. What Are The Advantages and Disadvantages?

  28. Market and Command/Communist Economies: Will you use these lessons in your classroom? If so, how will you use them? What was helpful about them?

  29. Revolutionary Economics Lessons For World History Classes Laura Ewing President/CEO Texas Council on Economic Education www.economicstexas.org Laura@economicstexas.org 713-655-1650

  30. Market Economy:

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