Syllabus, Week 2

Mr. Ditzenberger-Economics
Lessons: Comparing Economic Systems
Time: Week 2, January 21st-25th
Unit: Introduction to Economics

Objectives:
1. Students will discuss, define, and create sentences regarding key concepts of economics.
2. Students will analyze production possibility curves and evaluate efficiencies in economies.
3. Students will examine how countries and economic systems therein answer the basic economic questions.
4. Students will simulate the command and market economies.
5. Students will learn, through examples, the drawbacks of a command economy and the challenges of transition to a market economy.
6. Students will debate the socialistic and capitalistic economic model.

Monday
1. Turn in Bible paragraphs.
2. Take rules quiz.
3. Quiz on section 2-mna-1016
4. In groups, students make a list of ways economies can increase their efficiency.
5. Discuss production possibility curves
6. Read and discuss pages 23 and 24.
7. Comparison Chart: United States, China, North Korea-how would these three countries answer the 3 questions?
8. Economic Goals-25-27. Which of the five goals on page 25 is most important?
9. Homework-read section 2 for Wednesday.
10. Homework: LTE : Read 21-39. Quiz on Thursday.
11. Homework: Test tomorrow on Chapter 1-mna-1011

Tuesday
1. Chapter 1 test-mna-1011
2. Command and Market Economies simulation

Wednesday
1. Quiz-mnd-1026 from page 32. (5 min)
2. If you were a factory worker and you were paid as long as you produced your quota and were guaranteed job, how would this effect your motivation, productivity, and innovation? (5 min)
3. Read 34-35. Discuss. (5 min)
4. Read Socialism and Communism, page 35. Before reading, ask them to explain the difference between the two after they are done. (5 min)
5. The Former Soviet Union-Who was the most evil dictator ever? Read, “The Former Soviet Union”. (10 min)
PowerPoint Slide on dictator deaths in the 20th C. (5 min)
6. Story of light bulbs:
From the Soviet Union, there are many examples of distortions and inefficiencies from its long history of price controls, but here is a real classic.Light bulbs, like most other basic goods and staples in the Soviet Union, were often in short supply because the official price was below the market price, resulting in excess demand and prolonged shortages. As a result of the chronic light bulb shortage, an informal, black market developed in the USSR for used, burned-out light bulbs. That is, Soviet citizens would actually pay a positive price for a light bulb that didn’t work.How would it be possible for a burned-out light bulb to have a positive price, when it would normally just be thrown out? Of what use could anybody have for a used light bulb? Think about it first, and read the answer here:
7. Skit. Students are consultants to a command economy that needs help. They are free-market gurus who are asked to advice the struggling country on transitioning to a free market. They should come up with 10 questions that they would anticipate that are asked of the leaders of the country and answers that are based on their capitalistic expertise. (15 min)

Thursday
1. 21-39 Quiz.
2. Russian Oligarchs
3. Homework: Read Section 4. Quiz tomorrow
4. Homework: Prepare for Debate: http://www.idebate.org/debatabase/topic_details.php?topicID=400
Read both sides and study at least two of the links (useful sites) to be prepared for tomorrow.

Friday
1. Quiz, mna-1028.
2. Winston Churchill: Capitalism is the unequal distribution of wealth. Socialism is the equal distribution of poverty. Debate-socialism-Sweden (providing health care, significant welfare for those not able to work, basic services “free”/through tax money, verses Hong Kong or the U.S.-minimal government ownership).
Homework-chapter 2 test on Monday-mna-1021