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Unit 6: Economic Systems

Desrochers

Unit Briefing: Economic Systems

Economics is the study of how goods and services are
produced, distributed and consumed. Many of the decisions
that politicians have to make involve economics, and have
economic consequences. In this unit we will examine some
basic economic principles, and compare how economic
decision-making is approached in Canada and the United
States. We will also look at how economic decision-making
impacts quality of life in Canada.
Objectives:

9.2.4 compare and contrast the principles and practices of

market and mixed economies by exploring and reflecting upon
the following questions and issues:
What are the principles of a market economy? (ER)
Why do governments intervene in a market economy? (ER,
PADM)
Why is Canada viewed as having a mixed economy? (ER, PADM)
What is the role of the consumer in market and mixed
economies? (ER)
To what extent do consumer actions reflect individual and
collective identity? (ER, I)
How has the emergence of labour unions impacted market and
mixed economies? (ER)
What are some similarities and differences in the way
governments in Canada and the United States intervene in the
market economies? (ER, PADM, GC)
How do the economic systems of Canada and the United States
differ in answering the basic economic question of scarcity? (ER,
PADM, GC)

Vocabulary Terms:

Economics, Economic System, Economy, Scarcity, Private Ownership,

Public Ownership, Planned Economy, Mixed Economy, Market
Economy, Public Good, Shift Left, Shift Right, Crown Corporation,
Consumers, Producers, Supply, Demand, Labour Union, Collective
Bargaining,

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Unit 6: Economic Systems

Desrochers

Learning Projects:

Paper
Airplane
Competitio
n

Economic
Systems
Debate
Labour
Unions
Editorial
Position
Paper:
Canada
Economic
Action Plan

Unit Project: Canada Economic

Action Plan
Canadas minister of finance has asked you to submit a
proposal for an economic action plan. The minister is trying
to decide whether to recommend that the government shift
its economic policies to the left or to the right.
Recommend a shift in one direction (left or right), and
support your choice with evidence of how that shift
will increase prosperity for Canada.
Write this proposal in a 5-paragraph position paper format.

Total

/46
2

Social 9

Unit 6: Economic Systems

Desrochers

= Position Paper Rubric (30) + Standards of

Reasoning (16)

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Unit 6: Economic Systems

Desrochers

http://www.investopedia.com/university/economics/economics3.aspCo

mponent Project: Paper Airplane Simulation

(9.2.4.1,3,4-5)

Your task is to develop, produce, and successfully fly

as many paper airplanes as you can.
Set Up:
You will be placed into teams of 4-5. Each team will start with $1000.
You must purchase all of the supplies you need from the teacher. Prices
will be posted on the board, but costs of materials may change during
the course of the simulation.
Materials you can use to build your planes include: Paper, scissors,
glue, tape, and paper clips.
Roles:
One group member will be the Chief Executive Officer (CEO); they will
decide which model to use and what supplies should be purchased.
One group member will be the Chief Financial Officer (CFO); they will
be responsible for interacting with the supplier, purchasing supplies,
and getting the best prices for those supplies
One group member will be the pilot; they are the only person who is
allowed to fly your planes
All remaining group members, will be mechanics and will help to
produce the airplanes, and ready them for flying.
Prototyping Research and Design:
You will start with 10 minutes to develop a prototype. Each team will
start with two pieces of paper, which you will use to develop your
prototype plane. You may purchase extra materials if necessary.
Successfully flying your prototypes will not earn you any money.
Simulation:
You will be given 20 minutes to successfully fly as many paper
airplanes as you can, and land them in the target area. Each plan your
pilot successfully lands in the target area will earn you $200. Planes
may only be flown once, unless you pay a salvage fee of $100, in
which case you may attempt to fly the plane a second time.
Every plane must have your company name and logo on it in order for
it to count.
The team with the most money at the end of the simulation wins a
prize.

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Unit 6: Economic Systems

Desrochers

Reflection Questions
Read pp 202-201 of you text to help you answer the following
questions
1. What is the concept of scarcity, and how was it reflected in this
simulation?

2. What are the three factors of production? Explain each one and
give an example from the simulation.

Read pp 210-212 of your text to help you answer the following

questions
3. What is the role of producers in a Market Economy? In what ways
were you a producer during the simulation?

4. What is the role of consumers in a Market Economy? In what

ways were you a consumer during the simulation?

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Unit 6: Economic Systems

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5. What is supply? In what ways did supply affect the price of

materials in your simulation?

6. What is demand? In what ways did demand affect the price of

materials in your simulation?

7. What is competition? How was competition reflected in your

simulation?

8. What is a monopoly? Who had a monopoly in your simulation?

How might the simulation been different if there was no
monopoly?

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Unit 6: Economic Systems

Desrochers

Social 9

Unit 6: Economic Systems

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Component Project: Economic Systems Academic

Controversy Debate (9.2.4.1)
As a class we will read pp204-208, and 214-215. While we
review the information, take some time to fill out the
organizer below, which will help guide your arguments
during the debate
You will be debating the following topic:
Be it resolved that A mixed economy is a better way than
a market economy for Canada to organize our economic
decision-making.
Mixed Economy

Market Economy

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Unit 6: Economic Systems

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Debate Reflection
Which stance from the debate do you most agree with? Give three
reasons to support your answer. These will help you guide your writing
for your Economic Action Plan

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Unit 6: Economic Systems

Desrochers

Component Project: Labour Unions Editorial

Examine the information on 229-233 of your textbook and complete
the risks benefit organizer below.
Organized Labour
Risks

Benefits

Write a short letter to the editor similar to one of the ones on p233,
either promoting respect for labour unions or control of labour unions.
You may post this editorial to your blog .

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