Past and Present Economic Systems, Author(s): Patricia Nojaim & Dina Vashio, Grade Level: 8, Subject Area: Social Studies, The teacher will launch (Launch-Link) the unit with students' brainstorming their perception of economics. To hook (Launch-Hook) the creative video "Chickenomics" will be viewed thus introducing the students to basic economic terms and concepts. This video is highly animated and motivating in that it uses a chicken as a mascot, showing a real-life connection to success in a market economy. As a result of the video the students will recognize the value and display their understanding of economic principles.

Planning Guide

Creating Learner-Focused
Schools

* Madison-Oneida BOCES- This document may not be reproduced in any form without the expressed written consent of the District Superintendent or his designee.

LU Title: An Analysis of the Past and Present Economic Systems in the United States and Throughout the World	Author(s): Patricia Nojaim & Dina Vashio
Grade Level: 8	School Address: 1701 Noyes St., Utica, NY 13502
Subject Area: Social Studies	School Phone/Fax: 315-792-2007

CONTENT KNOWLEDGE

Declarative	Procedural
The students will identify and explain the basic economic principles and concepts. The students will name the Sectors of the Economy (Primary, Secondary, Tertiary). The students will label the Production Equation Formula (MMW=NR+HexT). The students will describe how to track and simulate the purchase of specific stocks on the Stock Market.	Using a computer students will demonstrate a line graph of the three Sectors of the Economy. The students will create a pictograph of the Production Equation Formula. The students will demonstrate, on the computer, how to track and simulate the purchase of stocks on the Stock Market.

ESSENTIAL QUESTIONS

How did the Colonial economy of the nation differ from the current economy?
Why were more people in the 1800's in the Primary Sector of the economy?
Why are the majority of people today in the Tertiary Sector of the economy?
How does the Production Equation Formula relate to real-life standard of living?
What is the objective of purchasing stocks in the Stock Market?

INITIATING ACTIVITY

The teacher will launch (Launch-Link) the unit with students' brainstorming their perception of economics. To hook (Launch-Hook) the creative video "Chickenomics" will be viewed thus introducing the students to basic economic terms and concepts. This video is highly animated and motivating in that it uses a chicken as a mascot, showing a real-life connection to success in a market economy. As a result of the video the students will recognize the value and display their understanding of economic principles.

Connection to State Learning Standards

Content Area: N.Y.S. Social Studies Standard #4 - ECONOMICS

Level: Intermediate, Grade 8

Benchmarks: Explain how societies and nations attempt to satisfy their basic needs and wants by utilizing scarce capital, natural, and human resources.

Benchmarks: Understand how people in the United States and throughout the world are both producers and consumers of goods and services.

Standard: #4 The students will use a variety of intellectual skills to demonstrate their understanding of how the United States and other societies develop economic systems and associated institutions to allocate scarce, resources, how major decision-making units function in the U.S. and other national economies, and how an economy solves the scarcity problem through market and nonmarket mechanisms.

Standard:

Unit Theme:

An Analysis of Past and Present Economic Systems in the United States and Throughout the World

Standard:

Benchmarks: Define basic economic concepts such as scarcity, supply and demand, markets, opportunity costs, resources, productivity, economic growth, and systems.

Identify and collect economic information from standard reference works, newspapers, periodicals, computer databases, textbooks, and other primary and secondary sources.

Benchmarks: Investigate how people in the United States and throughout the world answer the three fundamental economic questions and solve basic economic problems.

Present economic information by using media and other appropriate visuals such as tables, charts, and graphs to communicate ideas and conclusions.

Learning Experiences

Declarative Knowledge

What declarative knowledge should studentsbe in the process of acquiring & integrating? As a result of the unit, the student will know or understand…

What experiences or activities will be used to help students acquire & integrate this knowledge?

What strategies will be used to help students construct meaning, organize and/or store the knowledge?

Describe what will be done.

The students will identify and explain the basic economic principles and concepts.

The students will name the Sectors of the Economy (Primary, Secondary, Tertiary).

The students will label the Production Equation Formula.

The students will describe how to track and simulate the purchase of specific stocks on the Stock Market.

Oral Brainstorming and Group Discussion.

Story telling of "Cypher in the Snow".

View video: "Chickenomics".

Note-taking with graphic organizer additional vocabulary terms, concepts, and Production Equation Formula on overhead projector.

Create Line Graph.

Word-Matching Defination Game.

Oral Collaboration.

Develop a Learning Chart.

Create a Pictogram of the Production Equation Formula. IE: MMW(house) = NR(tree) + HE(human energy both mental and physical) x T(tools-hammer, screwdriver, saw) thus a house could be produced.

Discussion of how societies begin as Agrarian (survival) and progress to a technological society.

Create a classification matrix of occupations.

Brainstorming using the Three-minuet pause strategy.

Deductive reasoning teacher directed using teacher questions.

Note-taking.

Think-Pair-Share and Pairs-Check Collaboration Strategies adapted from DOL Learning Unit.

Deductive Reasoning Methodologies.

KWL Techniques.

Teacher directed Survey/ Projection strategies.

Compare and Contrast.

Writing Process and Oral Presentation Strategies.

Review and Practice Rubric Expectation.

Cooperative Learning Groups.

Extending and Refining Knowledge.

Students will be asked to participate in a brainstorming activity. Each student will be asked to orally present to the class, one word they think of when they hear the word "Economics".

Internalizing, students will orally attempt to identify again using one word that represents a common though used previously in identifying the defination of "Economics".

With this information, students will be asked to define economics without using the work money via deductive reasoning and discussion.

Students will deduct that Economics is how people earn a living to satisfy their needs.

Through oral discussion the students will discribe basic human "needs" as opposed to "wants". Teacher will introduce the idea of a possible additional need.

Students will then identify the one word that identifies this need as Love.

Students will summarize the basic concepts of Private Enterprise and Market Economy and explain how the Chicken arrived at the Profession that he was best suited for as a result of trial and error.

Students will write vocabulary terms and concepts on the Demensions of Learning Note Taking Guide form using graphics where noted. Students will use the shape of a football with a center seam and one seam above that and two seams below, use the words: Boom, average economic status, recession, and depression.

Students will analyze how the terms and concpets used in the "Chickenomics" Video are associated with Private Enterprise and a successful Entrepreneur.

Students will easily identify the Standard of Living as how well or how poorly people live based on the resources, mental and physical abilities, and tools people have abailable. They will discover that human energy is technology know how based on learning and knowledge and that it takes both mental (knowledge) and physical (strength) abilities to produce goods and services.

Students will construct a line graph on the computer showing the three Sectors of the Economy and the percentage of people in each sector from 1776 to Present.

Students will recognize that the primary reason for the reversal of the Primary sector and the Tertiary Sector was the onset of the Industrial Revolution and advanced technology.

On the Internet the students will research the past advances and declines of the stocks of their choice as well as track these stocks for a specific period of time. Students will then simulate the purchase of stock and track the stocks to see what team is most successful.

Students will also project why some stocks may go up or down based on season, climate, and/or other factors.

Learning Experiences

Procedural Knowledge

What procedural knowledge will students be in the process of acquiring & integrating? As a result of this unit, students will be able to:

What will be done to help students construct models, shape & internalize the knowledge?

Describe what will be done.

The students will be in the process of acquiring and integrating the use of a computer/technology, calculators to complet the line graph.

The students will acquire and integrate the use of newspapers and the Internet with regard to tracking the Stock Market.

The teacher will instruct students on developing line and pictographs.

The teacher will instruct students to use the calculator and its functions, particularly percentages.

The teacher will instruct students to calculate the percentages needed to complete the line graph.

The teacher will deomonstrate how to use the newspaper and the Internet to track and record information of daily stocks on the Stock Market.

The students will create a line and pictograph graph on the computer.

The students will create their own hand drawn pictograph.

The students will calculate the percentages necessary to complete the line graph.

The students will track and record, given the results from the daily stock market, advances and declines of their stocks.

Learning Experiences

Extending and Refining

What knowledge will students be extending and refining? Specifically, they will be extending and refining their understanding of…

What reasoning process will they be using?

Describe what will be done.

The students will extend and refine their knowledge of:

Economic terms and concepts
The Sectors of the Economy
The Economic Equation Formula

Comparing
Classifying
Inductive Reasoning

Deductive Reasoning

Error Analysis

Analyzing Perspectives

Constructing Support
Abstracting
Other:

Students will be asked to participate in a brainstorming activity. Each student will be asked to orally present to the class, one word they think of when they hear the word "Economics".

Internalizing, students will orally attempt to identify, again, using one word that represents a common thought used previously in identifying the definition of "Economics".

With this information, students will be asked to define "Economics" without using the word money via deductive reasoning and discussion.

Students will deduct that "Economics" is how people earn a living to satisfy their needs.

Through oral discussion the students will describe basic human "needs" as opposed to "wants". The teacher will introduce the idea of a possible additional need.

Students will then identify the one word that identifies this need as "Love".

Students will summarize the basic concepts of Private Enterprise and Market Economy and explain how the "chicken" arrived at the "profession" that he was best suited for as a result of trial and error.

Students will write vocabulary terms and concepts on the Dimensions of Learning Note Taking Guide form using graphics where noted. Students will use the shape of a football with a center seam, one seam above, and two seams below while incorporating the words: Boom, average economic status, recession, and depression.

Students will analyze how the terms and concepts used in the "Chickenomics" Video are associated with private enterprise and a successful entepreneurship.

Students will easily identify the Standard of Living as how well or how poorly people live based on their resources, mental and physical abilities, and tools they have available. The will discover that human energy is technology, which translates to: know-how based on learning and knowledge. Therefore, it takes both mental (knowledge) and physical (strength) abilities to produce goods and services.

Students will construct a line graph on the computer showing the three Sectors of the Economy and the percentage of people in each sector from 1786 to present.

Students will recognize that the main reason for the reversal of the Primary Sector and the Tertiary Sector was the onset of the Industrial Revolution and advanced technology.

Planning Guide

Unit:

Step 1	Step 2	Step 3
*What knowledge* will students be using meaningfully? Specifically, they will be demonstrating their understanding of and ability to...........**	What reasoning process will they be using?	Describe student's products and performances and the criteria for evaluation.
	[ ] Decision Making (selecting from seemingly equal alternatives or examining the decisions of others) [ ] Problem Solving (seeking to achieve a goal by overcomming constraints or lmiting conditions) [ ] Invention (creating something to meet a need or improve on a situation) [ ] Experimental Inquiry (generating an explanation for a phenomenon and testing the explanation) [ ] Investigation (resolving confusions or contradictions related to a historical event, a hypothetical past or future event, or to the defining characteristics of something) [ ] Systems Analysis (analyzing the parts of a system and how they interact) [ ] Other:	Products/Performances
		Criteria for evaluation

Rubric:

Key Questions:

What are the key elements, traits, or dimensions that will be evaluated?

Are the identified elements of equal importance or will they be weighed differently?

	Element #1	Element #2	Element #3	Element #4
Elements Scale	Includes much accurate relevant supplementaryinformation.	Presents analysis which reflects understanding of complex terms and concepts.	Recognizes patterns and distinction, draws conclusions, and evaluates relative importance.	Uses rules of English usage accurately.
Weights	Weighted the same.	Weighted the same.	Weighted the same.	Weighted the same.
4	Proficient -- Student shows proficiency meeting all Element #1 specifications.	Proficient -- Student shows proficiency meeting all Element #2 specifications.	Proficient --Student shows proficiency meeting all Element #3 specifications.	Proficient -- Student shows proficiency meeting all Element #4 specifications.
3	Competent Response--Student shows competency meeting all Element #1.	Competent Response-- Student shows competency meeting all Element #2.	Competent Response--Student shows competency meeting all Element #3.	Competent Response-- Student shows competency meeting all Element #4.
2	Incomplete confused Response-- Student is deficient in meeting the majority of Element #1.	Incomplete confused Response-- Student is deficient in meeting the majority of Element #2.	Incomplete confused Response-- Student is deficient in meeting the majority of Element #3.	Incomplete confused Response-- Student is deficient in meeting the majority of Element #4.
1	Uses no accurate or relevent information, is totally unrelated to topic of Element #1.	Uses no accurate or relevent information, is totally unrelated to topic of Element #2.	Uses no accurate or relevent information, is totally unrelated to topic of Element #3.	Uses no accurate or relevent information, is totally unrelated to topic of Element #4.

NOTE: Rubric or other performance asessment instruments may be used.

Constructing a Holistic
Scoring Tool
(Rubric or Activity Specific Key)

Key Questions:

* How many score points are needed to discriminate among the full range of different degrees of understanding, proficiency, or quality?

This response, product, or performance provides evidence of understanding of concept/principle/generalizationor proficiency in skill/process/strategy

Score Point 4	Score Point 3
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Score Point 2	Score Point 1
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Have You Considered These Yet?

Learn to Learn Skills:

Students may require additional assistance in completing written and oral presentations. This can be accomplished through the use of DOL graphic organizers (e.g., Q-A-D, Open/Focused Comparison and Contrast, and Deduction Graphic Organizer formats).

Assessment Modifications:

Rubrics in this unit were modified by the unit authors.

Unit Schedule/Time Plan:

Approximately 3 weeks

Written Overview:

This unit is designed to increase students' knowledge of economics as well as their understanding of realy-life skills and applying that knowledge. This unit will aid students in achieving higher levels of understanding in the field of economics and, assist them in making informed economic decisions in their personal life.