· Analyze the advantages and disadvantages of different systems in the process of designing an ideal economy.
· Engage in problem-solving activities with others that focus on questions that are central to the organization of the ideal economy.
Three to four class periods
Group record sheets can be turned in and group presentations can be evaluated.
For a more individual evaluation, students can respond to the questions on the handout, "Evaluation of Your Island Economy." This can be used as a test or assessment covering basic economic concepts, including many from Lesson 1 and 2.
natural resources land, labor and capital socio-economic goals
trade-offs opportunity costs scarcity
1) Divide students into groups of four.
2) Read the Island scenario to the whole class. Have students select roles in their groups.
3) Have each group discuss the questions on the handout Setting up Your Island Economy and record their answers.
4) Then have each group draw one (or more) of the Problem Solving cards from a hat and work out a solution.
5) Ask each group to record their decisions and report back to the whole class how they set up their economy, what their issue was, and how they proposed to deal with it. Use this as a time to facilitate whole class discussion on the questions.
6) Have students prepare for and then individually perform the "Evaluation of Your Island Economy."