Unit: Economics

Economics Unit Objective
After this unit, students should be able to understand how different economic systems supply people with the things that want and need and explain why being competitive is so important.

New Unit: Economics and Globalization and Competition.
Our Mantra for this unit is that, you are ALWAYS competing.  
Students will understand the effects of globalization on our community, our state, our country as well as their own lives.

Vocabulary
capitalism
socialism
communism
economy
opportunity cost
capitalism
choice
scarcity
societal value of the profit motive
surplus value of labor
competition.

Capitalism: Roger and Me
Question: What are the downsides to a competitive capitalist system.
Target: After viewing this film, you will be able explain some of the problems with capitalism.
Before:
1) What is a labor union
2) What is NAFTA?
3) What is trickle-down economics?
During:
1) What was Flint, Michigan like in the 50's?
2) What brought about problems for Flint?
3) What is the job of a spokesperson?
4) Do private corporations have any obligations to take care of people?
5) Should the government do anything to help a city like Flint, Michigan?
6) There were 200,000 people in Flint in 1960, today there are 98,000.  Is General Motors responsible at all for the decrease in population and the problems it brings to the city.

Review and Closure -- Capitalism: Roger and Me
Question: What are the downsides to a competitive capitalist system.
Target: After viewing this film, you will be able explain some of the problems with capitalism.
As a way to debrief the movie, your table will create a quick presentation that uses evidence from the film to argue whether corporations owe anything to the people that work for them and the cites they are located.  Use the claim, evidence warrant format.

The Globalization of Capitalism: Overview Video
Target: After viewing this video, you will be able write a paragraph explaining how people use global resources to make a profit in a capitalist system.
Watch: Crash Course on Globalization
1) As you watch, take notes on important points.
2) When completed identify two most important points.
3) Share with group.
4) Group identifies two most important points of the group.
5) Share

Globalization: Planet Money Makes a T-Shirt
Target: After viewing this video, you will be able to explain how globalization connects the people of the world.
Watch: Planet Money Makes a T-Shirt
1) As you watch, take notes on important points.
2) When completed identify two most important points.
3) Share with group.
4) Group identifies two most important points of the group.
5) Share

Activity: Creating your Outline
For your economy essay, you will need to both integrate important vocabulary AND use specific evidence from the texts and experiences you have been exposed to over the course of the past two units.  Here are those words and texts/experiences:

• Vocabulary: economy, opportunity cost, capitalism, choice, scarcity, societal value of the profit motive, surplus value of labor & competition.
• Sources and Experiences Roger & Me, The Rivals, Mock Economy video, Mock Economy Survey, Crash Course on Capitalism, Planet Money Makes a T-Shirt, Mr. Morrell's house, Here Comes the Neighborhood, Rumford Demographics and Cape Elizabeth Demographics, interviews with local businesses, your research on Habits of Successful People

Go to Google Classroom to use the supplied template to do the work.
1. Review the examples already completed in the template.
2. Work on filling out template using notes, Humex blog, Rumford-Cape paper, etc.
3. Share at your table what you think is your best example and advice on template
4. Continue to work on template
5. Inner circle/out circle sharing what you need help with and then writing down answers.

Activity: You will be researching at your table the different industries and businesses that use to be in the Oxford Hills.  Using the internet, research the different businesses that use to be the backbone of our community.  You will try to do the following:
1. Find a company that use to be in OH.
2. What did they manufacture?
3. What year did they leave or go out of business?
4. If the product is still being produced, where is it being produced?
5. If product is still being produced, what is the average salary of the country where produced?
6. Your conclusion should include why you believe the company was no longer able to compete because it was located in the OH.

Activity: How have the economics of daily purchasing changed over the last 60 years?
1) Five columns on a piece of paper.
2) In the first column, list every item of clothing and items in your bag.
3) In the second column, using the database of old businesses, list where you would purchase it in the "old" Oxford Hills.
4) In the third column, figure out where the item could have been made in the Oxford Hills.
5) In the fourth column, write down where the item was actually purchased.
6) In the fifth column, write down where the item was actually made.
7) Finally, on the map on the wall, post your items in the country they were made.

Coming up: The Big Economy Essay
Target: After completing this unit, you will be able to write an essay in which you display your understanding of the competitive nature of a capitalist system.
In two weeks, you will be writing an essay in which you use one of the four following scenarios:

• Write a letter letter to an 8th grader advising them of the competitive nature of what they are getting into and giving them specific advise about how to succeed.
• Write a letter to your future child explaining how to succeed in life.
• Write an essay explaining what decisions you should make based on what you have learned.
• Write an essay explaining where you are going to live and why.

Writing Target to be Assessed:

• Successfully organize your essay to build your arguments.
• Write claims that logically argue your thesis
• Use specific supporting evidence
• Write warrants that fully explain how your evidence supports your claims.

Social Studies Target to be Assessed:

• Use the following vocabulary words correctly in context: economy, opportunity cost, capitalism, choice, scarcity, societal value of the profit motive, surplus value of labor & competition.
• Successfully integrate the following sources as specific examples: Roger & Me, The Rivals, Mock Economy video, Mock Economy Survey, Crash Course on Capitalism, Planet Money Makes a T-Shirt, Mr. Morrell's house, Here Comes the Neighborhood, Rumford Demographics and Cape Elizabeth Demographics, interviews with local businesses, your research on Habits of Successful People,