The students will research the two major economic theories of the last eighty years. The students will write a persuasive argument to demonstrate the pros and cons of each and be prepared to present their argument to the class in a debate format.
California Academic Standard(s)
- 12.3 - Students analyze the influence of the federal government on the American economy
- Class Time: Two (50) minute classes
- Total Time: One Week
The students will develop critical thinking, organizational, presentation, social and writing skills while gaining a deep understanding of the major capitalistic economic theories of the last eighty years.
Learning Styles
- Linguistic
- Auditory
- Social
- Logical
- Intrapersonal
- Physical
Anticipatory Set (10 min)
The instructor will write a question on the board that states "How you think jobs are created?" The instructor will allow the students two minutes to think about the question. The instructor will call on random students to answer the question and write the responses on the board.
Direct Instruction (10 min)
The instructor will briefly explain Keynesian and Supply Side economic policy. On the board or using a computer and overhead, the instructor will write the following:
Working in pairs, you will answer the following questions for both the Supply Side and Keynesian economic theory:
- Who developed the theory?
- When was the theory developed? Explain the historical significance of when it was developed.
- Why was the theory developed?
- Provide a detailed description of the theory.
- Provide a one sentence description of the theory.
Using the computer and overhead, the instructor will complete the questions for the economic theory of communism.
Guided Practice (20 min)
The instructor will place the students in groups of two. The students will answer the questions about the economic theories and discuss.
Checks for Understanding (15 min)
The instructor will call on random students to answer the questions. The instructor will write the answers on the board under heading for each economic theory.
Direct Instruction (5 min)
The instructor will provide the following handout to the students:
Keynesian vs. Supply Side
You will choose either the Keynesian or Supply Side economic theory. You will write a persuasive essay to convince the reader that this economic theory is the best one for the American economy. The paper must include at least three arguments. The paper must also compare the two economic theories as you develop your argument. You will also need to be prepared to present your arguments to the class.
Modeling (10 min)
Using the computer and overhead, the instructor will provide a persuasive argument for the economic theory of communism.
Independent Study
The students will complete the persuasive argument paper for either the Keynesian or Supply Side economic theory.
Checks for Understanding (30 min)
The instructor will divide the class based on which economic theory was chosen to complete a persuasive argument. The instructor will call on random students to present an argument about their chosen economic theory. The instructor will engage the class to debate each argument. (Depending on the class ability, you may give points for class participation)
Checks for Understanding
The students will submit their persuasive paper for one of the economic theories.
Direct Instruction (15 min)
The instructor will summarize the arguments and demonstrate how this debate remains today in the United States.