Teacher's Page
| Unit Summary | Teacher's Resources | Day 1 Lesson | Day 2 Lesson |
| Day 3 Lesson | Day 4 Lesson | Day 5 Lesson | Day 6 Lesson |
| Day 7 Lesson | Day 8 Lesson | Day 9 Lesson | Day 10 Lesson |
| Conclusion | Student Webquest |
WebQuest Title: Should black market sales figures be included in GDP?
Dear Colleague:
This unit is designed to enhance a student’s understanding of economic concepts such as supply and demand and gross domestic product. In this unit students will assume the role(s) of a cabinet member(s)/advisor(s) to a leader of a particular country. The students will be required to advise their leader on whether or not their country should include its black market sales in its GDP. The culminating project is a webquest the students will complete in which they must create a proposal as to why or why not their country should include black market sales in its GDP.
Grade Level: 9 - 12
Author: Kathryn Whittaker
Date: April 14, 2007
Unit Summary:
Goals/Objectives:
The student will be able to:
- define economic terms.
- describe economic concepts.
- compare and contrast economic concepts.
- analyze black markets vs. free/open markets.
- evaluate economic data.
Days: 9 - 10 (65 minute periods)
Content:
The content of this unit will focus on whether or not countries should include black market sales in their GDP figures. In order to accomplish this students will study economic concepts (such supply and demand and GDP vs. GNP) and terminology. They will also be given practice problems to help reiterate the days concept(s). To show the students that this topic has real world implications they will complete a webquest about whether or not a particular country should include its black market sales figures in its GDP.
Standards:
NCEE Standards:
Standard 3: Students will understand that different methods can be used to allocate goods and services. People acting individually or collectively through government, mush choose which methods to use to allocate different kinds of goods & services.
Standard 7: Students will understand that markets exist when buyers & sellers interact. This interaction determines market prices & thereby allocates scarce goods & services.
Standard 9: Students will understand that competition among sellers lowers costs & prices, & encourages producers to produce more of what consumers are willing & able to buy. Competition among buyers increases prices & allocates goods & services to those people who are willing & able to pay the most for them.
Standard 16: Students will understand that there is an economic role for government in a market economy whenever the benefits of a government policy outweigh its costs.
Standard 17: Students will understand that costs of government policies sometimes exceed benefits.
Standard 18: Students will understand that a nation’s overall levels of income, employment, & prices are determined by the interaction of spending & production decision made by all households, firms, government agencies, & others in the economy.
NCSS Themes:
Time, Continuity, & Change (E, F)
People, Places, & Environments (C, E, J)
Individuals, Groups, & Institutions (B, C, F, G)
Power, Authority, & Governance (B, C, G, H)
Production, Distribution, & Consumption (A, F, H, I, J)
Global Connections (C, D, E, F)
Methods:
WebQuest
Summary:
Goals/Objectives:
The student will:
- compare and contrast the black market vs. free/open market.
- evaluate whether black market sales should be included in GDP figures.
- create a power point presentation.
- present their power point presentation.
Days: 3 (65 minute periods)
Content:
At the conclusion of the
webquest students will compare and contrast their assigned country’s GDP with
that of the United State’s GDP. After which they will compare and contrast
black vs. free/open markets. The students will then research their assigned
country’s economy and present their proposal.
Methods:
Research in media center/library
Class discussion
Group work
KWL
Internet research
Power Point presentation
Unit
Information:
Unit Lesson Sequence
Day 1 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
When you hear the term GDP what do think of? Write at least 10 items.
Write on board or transparency
Lecture
Introduction to Economics Power Point
** I would use this as a review of previously covered topics.
Computer with Microsoft Power Point
LCD projector
Power Point: PowerPoint Presentation
Practice Problems
Basic economic problems to ensure students have learned the material
Handout: Practice Problems
Handout: Practice Problems Answers
Day 2 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
1. Define what a black market is in your own words.
2. Name 2 different time periods in which a black market existed and what goods were traded.
Write on board or transparency
Group Activity: Jigsaw
1. Put students into triads.
2. Assign one person the Black Market reading, the second person the Free Market reading, & the 3rd person the Capitalism reading.
Handout: Venn Diagram
Handout: Black Market Reading
Handout: Capitalism Reading
Handout: Free Market Reading
Class Discussion
Discuss venn diagrams
Day 3 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
If you had the choice of living in a black market, free market, or capitalism which would you chose? Why?
· You must write at least 2 paragraphs.
Write on board or transparency
Class Discussion
GDP vs. GNP
· Have students make a T-chart on their paper. (1st column = GDP, 2nd column = GNP)
o Review differences and similarities between them
o Review basic formula for calculating GDP.
Notes for teacher: GDP vs. GNP or refer to any basic economics textbook
GDP formula ŕ Write on board or transparency
Practice Problems
GDP practice problems
· Give the students some fake or real numbers to work out a few calculations.
o I like to use real numbers so the students can compare their answers to actual figures.
Write on board or transparency
Callout Groups
· Group students and let them decide what role they will have.
· Assign each group a country.
· Give students a copy of the rubric.
Handout: Group Sheet
Handout: County List
Handout: Rubric
Day 4 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
Complete KWL about your country.
K-W-L ŕ Write on board or transparency
Group Work
Research in media center
Media Center/Library
Day 5 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Group Work
Research in media center
Media Center/Library
Day 6 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
Complete KWL about your country.
· Have them now fill in a few things in the “L” column.
· Discuss whether or not they are finding any of their “W’s”.
o This will help you help them steer their research in the right direction.
K-W-L ŕ Write on board or transparency
Webquest
Students will assume cabinet positions of their assigned country. They will be responsible for determining whether or not their leader should include black market figures in his/her country’s GDP.
Day 7 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
Complete KWL about your country.
· Have them now fill in a few things in the “L” column.
· Discuss whether or not they are finding any of their “W’s”.
o This will help you help them steer their research in the right direction.
K-W-L ŕ Write on board or transparency
Webquest
Students will assume cabinet positions of their assigned country. They will be responsible for determining whether or not their leader should include black market figures in his/her country’s GDP.
Day 8 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
If you had to decide right now, would you tell your leader to include black market figures in your country’s GDP?
· You must give at least 3 reasons supporting your decision.
· Have students use this in their groups so they can analyze where each person stands at this point.
Write on board or transparency.
Webquest Final Touches
This is the last day to work on the webquest!
Day 9 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
Get ready to present
Presentations
Each group will present 5 – 8 minutes.
Evaluations
Have groups complete the peer evaluations.
Handout: Rubric
Day 10 Back to Top
Lesson Plan Outline
Method (Bell Work, Lecture, Cooperative Learning, etc.)
Content/Key Ideas/Concepts/Facts
Materials
(Transparencies, audio, handouts, etc)Bell Work
Get ready to present
Presentations
Each group will present 5 – 8 minutes.
Evaluations
Have groups complete the peer evaluations.
Handout: Rubric
At the conclusion of this unit students will have a comprehensive understanding of GDP. They will also be able to analyze and evaluate whether particular economic information (such as the black market) should be included in GDP or GNP. The hope is that students will be able to transfer this knowledge to the real world and will now understand more of the economic news they are bombarded by.
Credits/References:
Microsoft Encarta (2004)
Wikipedia, the free encyclopedia