Developing Nations Action Plan - 12th Grade Economics

Lesson Summary
The students working in groups will devise an action plan to stimulate the economy of a developing nation.

California Academic Standard(s)

• 12.6.3 - Understanding the changing role of international political borders and territorial sovereignty in a global economy.

Time Frame
 Three to Four (50) minute classes

Goal
The students will gain critical thinking, social, writing, presentation and organizational skills while learning about the challenges of developing nations to achieve economic growth.

Learning Styles

• Linguistic
• Auditory
• Social
• Physical
• Logical

Lesson Plan
Anticipatory Set (10 min)
The instructor will write a question on the board that states: "What are some ways to stimulate economic growth?"  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 will write the answers on the board.

Direct Instruction (20 min)
The instructor will briefly discuss some of the challenges developing nations face as they try to stimulate economic growth.  The instructor will provide the following handout to the students:

Developing Nations Action Plan
As a group, you will choose one of the following developing nations:

• Afghanistan
• Bangladesh
• Botswana
• Cambodia
• Dominican Republic
• Kenya
• Mexico
• Nigeria
• Philippines
• Serbia
• South Sudan
• Yemen
• Zimbabwe

Once the developing nation is chosen, your group will answer the following:

• Demographic Information - Including location, population, key natural resources, average age, GDP, gender makeup, education statistics, average income, industries, key products, type of government, occupation statistics, home ownership statistics, and transportation statistics.
• History - Provide a brief history of the country from its origin to modern day.  
• Key Issues for Development - Provide some of the key issues that are and have prevented the country from developing economically.
• Development Plan - Create a development plan to help your chosen nation to stimulate economic growth.  The plan needs to provide a detailed time frame on how it will be implemented.
• Plan Presentation - As a group, you will present your development plan to the class.  Your group may present it in any way.  Be creative!

NOTE: You will work on the plan as a group.  However, each group member will be responsible for one section of the plan (Demographics, History, Plan, Presentation)

Modeling (10 min)
The instructor will take a developing country not on the list and provide a couple ideas on how to improve the economic output of the country.  For example: Obtain a loan from the World Bank to purchase a computer for every village in the country.

Guided Practice (100 min)
The instructor will place the students in their groups.  The students will complete the developing nation action plan and prepare to present it to the class.

Checks for Understanding (50 min)
Each group will present the developing nation action plan to the class.

Checks for Understanding
Each group will submit the developing nation action plan to the instructor.

Keynesian vs. Supply Side - 12th Grade Economics

Lesson Summary
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

Time Frame

• Class Time: Two (50) minute classes
• Total Time: One Week 

Goal 
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

Lesson Plan
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.

Modeling (10 min)
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.

Federal Reserve Chairman - 12th Grade Economics

Lesson Summary
The students working in groups and as an individual will document the functions of the Federal Reserve System and develop a plan to avert a banking crisis using the functions of the Federal Reserve System.

California Academic Standard(s)

• 12.3 - Students analyze the influence of the federal government on the American economy.

Time Frame
Class Time: Two (50) minute classes
Total Time: Four days

Goal
The students will acquire critical thinking, social and writing skills while understanding the functions of the Federal Reserve System and its role during a time of bank crisis.

Learning Styles

• Linguistic
• Auditory
• Social
• Intrapersonal
• Logical

Lesson Summary
Anticipatory Set (10 min)
The instructor will write a question on the board that states "If you were on a trip alone and ran out of money, what are some things you might do?"  The instructor will allow the students two minutes to think about the question.  The instructor will then call on random students to answer the question and write the answers on the board.

Direct Instruction (15 min)
The instructor will briefly explain the role of the Federal Reserve during the the 2008 banking crisis.  The instructor will write the following on the board or on a computer with an overhead:

Working with a partner, please describe the main functions of the Federal Reserve System.  Write the functions as bullet points using complete sentences.  Be prepared to explain the functions to the class.

Modeling (5 min)
Using the board or computer and overhead, the instructor will write one function of the Federal Reserve System.

Guided Practice (20 min)
The instructor will place the students in groups of two.  The students, using their textbooks, smart phones or computer will write down the main functions of the Federal Reserve System.

Checks for Understanding (10 min)
The instructor will call on random groups to provide the functions of the Federal Reserve System.  The instructor will write the answers on the board.

Direct Instruction (10 min)
The instructor will provide the students the following handout:

The Federal Reserve Chairman
You are the Federal Reserve Chairman.  The bank stocks have been plummeting for the last few months.  Two major banks failed and filed for bankruptcy.  There is a fear that bank depositors may withdraw their money worried that the banking system may fail.

As the Federal Reserve Chairman, using the power authorized by the Federal Reserve System, explain what you would do to calm the crisis in the short and long term.  Please explain how you will employ each function.  Be prepared to defend your plan to the class.

Modeling (5 min)
The instructor will write on the board one possible Federal Reserve Function used to calm a banking crisis and explain how the function would be employed.

Independent Study (40 min)
The students will complete their plan to avert the banking crisis.

Checks for Understanding
The students will submit their plan to the instructor.

Direct Instruction (20 min)
The instructor will lead the class in a discussion regarding their bank crisis plans.

Direct Instruction (50 min)
The instructor will show the class a PBS Frontline video titled "Inside the Meltdown"

Supply and Demand Seminar - 12th Grade Economics

Lesson Summary
Working in groups, the students will research an area of supply and demand for the purpose of developing a lesson plan to teach the class.  The lesson developed must involve participation of every student.  Each group will present their lesson to the class.

California Academic Standard(s)

• 12.2.1 - Understand the relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to the law of demand.
• 12.2.2 - Discuss the effects of changes in supply and/or demand on the relative scarcity, price, and quantity of particular products.

Time Frame
 (2) 50 minute classes (Great for Block)
 
Goal
The students will achieve critical thinking and presentation skills while understanding the key concepts of supply and demand.

Learning Styles

• Linguistic
• Auditory
• Social
• Physical
• Logical

Lesson Plan
Anticipatory Set (15 min)
The instructor will write a question on the board that states "What are some ways a teacher can involve students in a lesson to make it more interesting?"  The instructor will tell the students to think about the question for two minutes.  The instructor will call on random students to answer the question and put the answers on the board.

Direct Instruction (20 min)
The instructor will briefly discuss the concepts of supply and demand and provide the students with the following handout:

Supply and Demand Seminar

Each group will be assigned a section of either chapter four or five of the textbook.  The group will be responsible to teach the class about the subject matter covered in the textbook section using a class activity.  The activity must include:

• Participation of all students in the class
• Each key concept of the section covered
• The activity must be no shorter than 10 minutes and no longer than 15 minutes.

Each student in the group must have a role in the lesson presentation. The goal of the assignment is for each student in the class to understand the main concepts provided in each section of chapter four and five.

Each group will hand in a detailed description of the lesson plan provided to the class.  If the lesson includes any written class work, the class work should be attached to the lesson plan. 

Modeling (10 min)

The instructor will use the computer and overhead to demonstrate a student-centered lesson plan previously provided to the class.

Guided Practice (30 min)

The instructor will place students in groups of four.  The instructor will assign a section of the supply and demand chapters to each group.  Each group will learn the concepts from the section and develop a lesson plan that will include the participation of all the students in the class.  The group will also assign each member a role in the lesson presentation.

Checks for Understanding (40 min)

Each group will present their student-centered lesson to the class.  Each group will then submit their detailed description of the lesson plan along with any written class work completed by the students.

Direct Instruction (15 min)

The instructor will summarize each lesson plan to the class and lead a discussion for the class to provide feedback on the effectiveness of each lesson.

Business Plan Lesson 1 - 12th Grade Economics

Lesson Summary

Working independently or in groups of two and max of three, the students will create a business plan.  The students will need to provide a market description including the market size, target market, secondary segments, competitive analysis and price analysis.  The students will provide a product description including a competitive and price analysis.  The students will provide a sales, service and marketing strategy and an organization and finance plan.  The students will present their business plans to the class.

California Academic Standard(s)

• 12.1 – Students understand common economic terms and concepts and economic reasoning.
• 12.2 – Students analyze the elements of America’s market economy in a global setting.

Time Frame 

Semester

Goal

The students will learn critical thinking skills while understanding the key principles of the economics in a practical role.

Learning Styles

• Linguistic
• Auditory
• Social
• Physical
• Logical
• Intrapersonal

Lesson Plan

Lesson 1 – Introduction to the Business Plan Project

Anticipatory Set (10 min)

The instructor will write a question on the board that states “What are different industries of business?”  The instructor will tell the students to take 2 minutes and think about their answer(s).  The instructor will ask the students to provide answers and the instructor will write the different industries on the board.

Direct Instruction (15 min)

The instructor will provide a handout with directions for the business plan.  The instructor will describe the directions to the class and answer any questions.

Directions

Each student will need to complete a business plan for either a product or a service.  The business plan can be completed individually or in groups of two individuals.  The business plan will consist of the following:

• Executive Summary – The Executive Summary will summarize the entire the plan.  The Executive Summary will be written last.
• Market Description – Define the target market.  Who are the competitors?  What customer need are you fulfilling?
• Product/Service Description – Provide specifics about the product or service you are selling.  How is your product or service better than the competition?  What is the price point of the product or service?
• Marketing, Sales and Service Strategy – How will you market and sell to your customers?  How will your product or service be distributed?  How will you advertise your product or service? 
• Organization and Finance Plan – Estimate the start-up costs.  How do you expect to get the money for the business?

Business Plan Milestones

• 2/16 – Submission of Business Idea
• 3/25 – Market Description
• 4/1 – Product/Service Description
• 4/17 – Marketing, Sales and Service Strategy
• 4/22 - Organization and Finance Plan
• 5/6 – Completed Business Plan 
• 5/9 – 5/13 – Presentations of Business Plan 

Executive Summary 
Paragraph Format – A one page summary of the entire business plan.  The executive summary should be able to sell the business idea completely to a person only reading the one page executive summary.

Market Description

·         Market Size

o   Paragraph Format – Explain if the market you are selling to is local regional, national or international.  Provide reasons why.

o   Paragraph and Bullet Format – Describe details of your market including elements such as size (geography and population), location (online and offline)

·         Target Market

o   Paragraph Format – Describe who is the core customer

o   Bullet Format – List elements of the target market including: income range, gender, personal attributes and any other relevant information about the target market

·         Secondary Segments

o   Paragraph Format – Describe any secondary markets

o   Bullet Format – List elements of the secondary markets including: income range, gender, personal attributes and any other relevant information about the secondary market

·         Competitive Analysis

o   Paragraph Format – Define who is the competition.

o   Bullet Format – List competitors

·         Price Analysis

o   Paragraph Format – Describe the prices for similar products or services

o   Bullet Format – List the competitors and what they are charging for similar products or services

Product/Service Description

·         Product/Service

o   Paragraph Format – Explain the details of the product/service and what it does

·         Service

o   Paragraph Format – Explain in detail the experience the customer will have with your service

·         Competitive Distinction

o   Paragraph Format – Explain how the product or service is better than the competition

·         Price Points

o   Product - Paragraph Format – What will the product/service sell for?  This information should be based on information obtained from the market description

Marketing, Sales & Service Strategy

·         Marketing

o   Paragraph Format – Explain the key features and benefits of the product or service.  Demonstrate how you will distribute the product or service and provide an advertising plan to expose your product or service to your potential customers.

·         Sales

o   Paragraph Format – Explain in detail the process on how you will sell your product or service.

·         Service

o   Paragraph Format – Explain in detail the process on how you will provide service for your product or support your service.

Organization and Finance Description

·         Organization

o   Paragraph and Bullet Format – Explain how you believe the organization will develop based on your business model.  List the key management positions and provide a detailed explanation on their roles in the business.  Provide a biography of the key individuals or partners in the organization.

·         Finance

o   Paragraph and Bullet Format – Explain what type of financing you will need for the business and provide a detailed list of the costs needed to start up the business.

Guided Practice (25 min)

The instructor will assign the students in groups of two.  The students will write down a new business idea for 5 different industries.  The students will have 15 minutes to complete.  The instructor will call on each group to provide at least one business idea to the class.

Direct Instruction (5 min)

The instructor will tell the students the deadline for picking a group or working alone and submitting the business idea.  The instructor explains the advantage and disadvantages of working alone or in a group.  

Independent Study 
Each individual student or group will devise a business idea and submit it to the instructor.

Business Plan Lesson 2 - 12th Grade Economics

Market Description

Anticipatory Set (10 min)

The instructor will write a question on the board that states “What do you think a target market means?  The instructor will ask the students to take 2 minutes and think about the question.  The instructor will ask the students to provide an answer and write them on the board.

Direct Instruction (10 min)

The instructor will briefly explain the meaning of Target Market.  The instructor will ask the students to take out their business plan directions simultaneously showing them on the projector.  The instructor will discuss the necessary elements to complete the Market Description for the Business Plan.   The instructor will ask if there are any questions.

Guided Practice (30 min)

The instructor will have the students get into groups of two.  The instructor will hand out an index card to each group with a major well known corporation.  The instructor will ask each group to define the Target Market and Secondary Markets, describe the major competitors and why they are competitors for the company on the index card.  (If you have business card stock that works well)  The students will write down the answers on a separate piece of paper and hand in to the instructor.  The instructor will allow the students ten minutes to answer and the instructor will ask the groups to provide their answers to the class.

Modeling (5 min)

The instructor will choose a company not on the index card and provide the Target Market, Secondary Markets and major Competitors of that company.

Independent Practice (1 min)

The instructor will remind the students of the completion date for the Market Description section of the Business Plan.

Checks for Understanding

The students will submit the Market Description to the instructor on the specified date.  The instructor will review the Market Description for errors or omissions and meet with each individual or group to discuss changes for the final version.