Unit: Rebuilding Economies—Economic GrowthSusanna Pierce, International School of the Americas, San Antonio, TXLesson Title: Rebuilding Economies after Investment, Capital Goods, Infrastructure,Natural Disasters Human Capital, Economic Growth, Gross Domestic ProductLesson Description: Objectives: Students will:In this lesson, students will discover the Explain how natural disasters affectimportance of investment in countries individual communities and the greatersuffering from disasters. After seeing the economy.aggregate benefits of investment through Identify the sources of economiceconomic models, students will strategizethe most beneficial forms of investment for growth.individual communities. In groups, they will Draw the effects of economic growthdesign an investment project in a particular on the aggregate model and a country’scommunity in Japan. Their hope is to production possibilities curve.convince the government to subsidize their Design an investment project thatproject by explaining the short and long run would help rebuild an individualbenefits to the local citizens. community. Convince the Japanese government toRationale: subsidize their project.These lessons equip students with skills to Time Required:4 fifty minute classameliorate economies after disasters. After periodslearning the long term benefits of well-planned investments on communities and Day 1: Explanationoverall economies, students internalize the Day 2: Designneed to assist other countries after natural Day 3/4: Presentationsdisasters: it pushes students to advocate Materials:for countries afflicted by disaster. It urgesstudent to unite in a universal quest for 15 photos from the aftermath of theglobal partnerships for development. tsunami in Japan Individual dry erase boardsAge Level: butcher paper markersAP Macroeconomics 12th Handout One and Two LaptopsEconomic Concepts: Procedure:
Unit: Rebuilding Economies—Economic GrowthSusanna Pierce, International School of the Americas, San Antonio, TX Day 1: Direct Instruction: As the students look at the front board, the teacher will explainAnticipatory Set:Each group receives an that all of the photos are from the tsunamienvelope that includes various photos disaster in Japan. The teacher will showtaken after the tsunami in Japan. After satellite photos of specific places beforeopening the envelope, students pass and after the disaster found on the NYaround the photos to their group members Times.and answer the following questions. Eachperson within the group answers one of the NY Times Satellite Photosfollowing questions on his/her dry erase The teacher will explain the magnitude ofboard: the disaster across Japan. Then, the teacher 1. What do you see in the photos? will demonstrate the effects of the natural 2. What might have caused this disaster on both the Aggregate Model, as destruction and where might it developed the previous day. Students will be? internalize how less aggregate demand 3. How would this disaster affect after a disaster will decrease gross the surrounding community? domestic product and increase 4. Why might limited response to unemployment. the disaster negatively affect Then, the teacher will go over the ways to the citizens? promote economic growth or development 5. How might you rebuild this in an economy. He/she will explain how community? investment is one of the most important After students have 5 minutes to components of aggregate demand in asort through the photos, the teacher will developing economy and also an economybreak into their discussions to allow for a afflicted by disaster.whole group share out. Table by table, The teacher will explain the types ofstudents will come to the front and tape investment—capital investment includingtheir photos to the front board as they infrastructure and investments in humananswer individual questions about their capital (education). The teacher willphotos. By the end of the presentations, connect all of these investments to thethere will be a large collage of images on production possibilities curve and thethe front board. aggregate model, explaining that both increase to allow economies to produce more goods.
Unit: Rebuilding Economies—Economic GrowthSusanna Pierce, International School of the Americas, San Antonio, TXAfter, the teacher will check for of the importance of investments that willunderstanding by having the students draw have the largest benefit with the smallestthe effects of various investments on the cost.aggregate model and the production Task Description: Then, the teacher willpossibilities curve. introduce students to the task:To conclude class, the teacher will play a You have been hired by the Japanesevideo clip of students in Japan singing, “We government as a team to ameliorate theare the world.” Students will fill out an exit disaster-afflicted areas within theslip about what investment they believe is country. As a team, design an investmentthe most beneficial: human capital, capital project in a particular community thatgoods, medical aide, or infrastructure. The will help its economy recover from thefinal question will urge students to explain disaster. Explain the short-term benefitshow they could help a country afflicted by a on the citizens and the long-termdisaster. benefits on the entire economy of Japan. Day 2: Your goal is to entice the government to subsidize your project.Anticipatory Set: The teacher will beginthe second day by showing a video clip The teacher will divide students into groupsabout the Japanese tsunami: of 5 and have students select a role.A Song for Japan Lawyer: Why is your project worthy of funding?After watching the clip, the teacher will Economist: What are the economicpose the following question, “As an objectives of your project?economist, how would you advise the Engineer: How will your project beJapanese government to respond to this implemented?disaster?” Accountant: What will the costs areThe teacher will allow students two associated with your project?minutes to think independently. Then, Doctor: How will the project affect thestudents will pair with a partner to share health of citizens and the economy?their thoughts. Finally, the teacher will Then, teacher will model an investmentallow various groups to “share” their plan that might have been implemented inthoughts with the class. Haiti after their earthquake. As a class, theAfter hearing from several voices within the students will fill out a sample project modelclassroom, the teacher will remind students together.
Unit: Rebuilding Economies—Economic GrowthSusanna Pierce, International School of the Americas, San Antonio, TXAfter the teacher has made certain that The teacher will compile all of thestudents understand the task, s/he will investment projects into a digital book forallow students to begin their own research each group. The book could be a potentialof their topic. artifact in their senior portfolio.The teacher will encourage students to Useful Websites:have a digital representation of the benefitsof their investment project. http://news.nationalgeographic.com/news/201 1/03/pictures/110315-nuclear-reactor-japan- Day 3/Day 4: tsunami-earthquake-world-photos-meltdown/The first part of class, the teacher will allow http://www.nytimes.com/interactive/2011/03/groups to assemble their final projects. 13/world/asia/satellite-photos-japan-before-Then, groups will present their investment and-after-tsunami.htmlproposals to the Japanese governmental http://www.economist.com/node/21536600officials (teachers from other content areas,community members, administrators,former students).As each group present, other students willtrack their thoughts to note key facts andquestions they have about every project.After all groups have presented theirproposals, the panel of officials will selectthe group whose proposal seems to be themost beneficial to Japanese citizens.Students who receive the subsidy from thegovernment will earn a 100 on their project.The teacher will conclude the mini-unit byallowing students to select the project theyfeel will be most beneficial in addressingthe needs of the country. They willconclude the activity by filling in the finalsentence with a thoughtful response: I used to think…..but now I think…