Wednesday, February 25th, 2015

Mock Economy Debrief
Today, we'll be trying to understand what happened and what we can learn from it.  In addition to the success criteria listed below, we will be trying to answer an essential question that is going to tie together The Beans of Egypt, Maine, Mock Economy, Roger and Me, The Rivals, Ernie's Ark and other works.  That question is: How does where we live shape who we become?

Big Essay
So, in a few classes, you'll be writing an essay in which you answer the essential question above. You'll be doing so using evidence from the work we do today and in subsequent classes.

Setup
You will be taking notes today on everything we do.  You will be asked a series of questions -- you can see them here.

Quiz on "Meat"

Vocab with definitions:  Economy, Capitalism, Communism, Socialism, Profit, Societal value of the profit motive, Surplus value of labor, union, Competition, Exploitation

Mock Economy Success Criteria:
1. Students will be able to explain the role capitalism plays in distributing wealth.
2. Students can explain how environment/culture can encourage or inhibit aspirations.
3. Students can identify elements of socialism in a capitalist economy.
4. Students can identify and explain the possible roles of government in an capitalist economy.
5. Students can explain the role the"Surplus value of labor" plays in capitalism.
6. Students can explain the "Societal value of the profit motive."

Definition of Capitalism
The definition is: "Capitalism is an economic system that supplies people what they want and need through people competing to make a profit."  In your group, create a presentation that uses a local business to explain how it is part of a capitalist system.

Circle by wealth -- groups of 3 in order of wealth.
We'll be asking the questions below then letting you discuss in your group of three then using a cold call to get responses.

Questions:
Do you think that this is how capitalism works in reality?
Do you think the Mock Econom makes capitalism look like a good or bad economic system?
Do you think the Mock Economy realistic?
Do you think that the Mock Economy Capitalism was fair?
Do you think if you did it over again you would do something different?  What?
Why you do you think people end up living in poverty in the real world?
Do you think there was a way to get everyone out of the donkey room or in real life, everyone out of poverty? Why?
Why were some people rich while others remained poor?
Essential Question: Explain how where you spent most of your time in mock economy played a role in determining how much money you ended up with. 
(45 minutes)

Video
Debrief Questions:
1. In your group determine one thing that you understand now that you did not know about during the mock economy.
Success Criteria Questions:
1. Describe one scene in the video that shows how the capitalist mock economy distributed wealth to people.
2. Describe one scene in the video that explains how environment/culture can encourage or inhibit aspirations.(Essential Question)
3. Describe one scene in the video that shows elements of socialism in a capitalist mock economy.
4. Describe one scene in the video that shows the possible roles of government in an capitalist economy.
5. Describe one scene in the video that explains the role the"Surplus value of labor" plays in the capitalist mock economy.
6. Describe one scene in the video that explains the "Societal value of the profit motive."
(1 hour 55 minutes)

Roger and Me
(1 hour 30 minutes)
Debrief Questions: 
1. In your group determine one scene in the movie that reminds you of a scene from the Mock Economy.
Success Criteria Questions:
1. Describe one scene in the movie that shows how the capitalist mock economy distributed wealth to people.
2. Describe one scene in the movie that explains how environment/culture can encourage or inhibit aspirations.(Essential Question)
3. Describe one scene in the movie that shows elements of socialism in a capitalist mock economy.
4. Describe one scene in the movie that shows the possible roles of government in an capitalist economy.
5. Describe one scene in the movie that explains the role the "Surplus value of labor" plays in the capitalist mock economy.
6. Describe one scene in the movie that explains the "Societal value of the profit motive."

Real Estate
Debrief Questions:  After doing some research into the area of Flint Michigan explain why  real estate so cheap.
Short Presentation
(30 minutes)

Auction
(30 minutes)

Heads up:
Over the next few classes, we will be gathering more information to answer the question "Does where you live determine who you will become?" Eventually, we'll be writing an essay.

TBD -- Possibly
In the future you will create a product or service that you think will thrive in the downtown Norway.
Using your knowledge from notes, video's, Mock Economy, class discussions create a product or service that you think would be profitable.  You will be surveying the downtown Norway area, surveying merchants, as well as space for your business.  You will be asked to create a business plan, do research on your product or service, determine costs associated with starting a business, researching demographics of area, and potential demand for you product or service.