7.E.1.3

7.E.1.3 Summarize the main characteristics of various economic systems (e.g. capitalism, socialism, communism; market, mixed, command and traditional economies). || ===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Literacy Standard(s)**=== || ===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Learning Target/Task Analysis**=== The student will understand: Economic systems may vary by
 * ===Clarifying Objective===
 * ===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Information Technology Standard**=== || ===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Revised Bloom's Level of thinking**=== ||

The student will know: Key terms including but not limited to:

o Capitalism o Socialism o Communism o Market economies o Command economies o Mixed Economies o Traditional economies

‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**I can...**

 * I can explain the basic concepts of capitalism and free markets.
 * I can discuss conflicting messages, perspectives and biases on the strengths and weaknesses of free market capitalism and government regulation
 * I can explain how economic growth continues at such a rapid rate China
 * I can describe how life in China has changed since the Cultural Revolution

‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Essential Vocabulary**
Society, Region, Economic Activity, Competition, Resource, Economic Relationship, Economic Decision, Economic Systems, Personal Financial Decision-Making

‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Sample Assessments**

 * Picture trading cards
 * Sequence map
 * Written report

‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Differentiation**

 * Definition/Sentence/Illustration (DSI) – to introduce new vocabulary
 * (capitalism, socialism, communism, market economy, mixed economy)
 * Vocabulary Pictionary
 * Direct Instruction mini-lesson
 * Small group instruction
 * Collaborative Pairs
 * Multiple texts
 * Group reading selections by level

===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Instructional Resources**===
 * Intro to Capitalism LP:
 * []
 * Discovery Education: Audio of Franklin D. Roosevelt: Fireside Chat: On Government & Capitalism (September 30, 1934)
 * Video China from MAOoism to MEism
 * Book: The Red Scarf Girl, by Ji Li Jiang
 * The Red Scarf Teacher Guide
 * Documentary Films ([|www.izzit.org])
 * The Foundations of Wealth [[file:foundations_of_wealth_teachers_guide.pdf|Teachers Guide]]
 * Pennies A Day
 * From Poop to Profits
 * Discovery Education:
 * Understanding Economics
 * How Economic Activities Define A Culture
 * The Production, Distribution and Consumption of Goods and Services

===‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍**Notes and Additional Information**===