Economic Systems Simulation
STUDENT MATERIALSSTUDENT MATERIALSS-1ECONOMIC SYSTEMS SIMULATIONWORLD HISTORY PROJECT / LESSON 6.4 ACTIVITYPurposeIn this unit, you’re examining changes brought about by the Industrial Revolution, such as the rise of the proletariat class. This activity will introduce you to some economic theories that gained popular support amid industrial transformations in the late nineteenth century. The simulation will help you make foundational comparisons between economic systems. PracticesCausation, comparisonYou’ll be drawing comparisons between the principles and practices of economic systems. While considering the benefits and drawbacks of each system from the point of view of different groups in society, you’ll also be establishing causes for socialist-inspired reform movements and socialist revolutions.ProcessIn this activity, you will play two separate rounds of rock-paper-scissors. This quick simulation should help you reflect on principles of equity and fairness, as well as help you understand economic systems that were in place during this period. Round 1You’re going to play rock-paper-scissors. Your teacher is going to give you some treats to use as part of the game (don’t eat them until your teacher tells you to!), and for each game you lose, you have to give your competitor one of your treats. If you win, you can collect one treat. However, if you run out of treats, you have to sit down. Start by pairing up with someone in your class and continue to play until your teacher tells you to stop. Once time is up, as a class, tally how many of you ended up with lower, middle, and upper ranges of treats. Now, turn your treats into your teacher, take a couple of minutes to reflect, and answer the Round 1 questions on the Economic Systems Simulation Worksheet. Round 2Your teacher will redistribute the treats. This round, you can choose to keep your treats and have them later, or, you can play another round of the game and try to get more. Your teacher will start the timer, and once time is up, again tally how many in the class ended up with lower, middle, and upper ranges of treats, including anyone who chose not to play. Then, answer the Round 2 reflection questions on the worksheet. Be ready to discuss your answers with the class. After you’ve had a class discussion, complete all of Part 3 of the worksheet. Again, be prepared to discuss your responses with the class. Make sure to ask questions if you are at all confused about the differences between capitalism and socialism, but by now, you’ve probably figured it all out! Your teacher will collect your worksheet to review your answers.
Name:Date:Name:Date:STUDENT MATERIALSS-2ECONOMIC SYSTEMS SIMULATIONWORLD HISTORY PROJECT / LESSON 6.4 ACTIVITYDirections: Answer the questions after each round. Part 1 - Round 1 Reflection QuestionsANSWER THESE IF YOU “WON”ANSWER THESE IF YOU “LOST”1. What factors enabled you to end up with more Hershey’s Kisses than your classmates?2. Compare your feelings about the game before and after playing.1. How did you end up with fewer/no Hershey’s Kisses?2. Compare your feelings about the game before and after playing.ALL STUDENTS ANSWER THESE QUESTIONS1. Did you think this game was fair? Why or why not?2. If not, was there something the teacher could have or should have done to make this game fair?
Name:Date:Name:Date:STUDENT MATERIALSS-3ECONOMIC SYSTEMS SIMULATIONWORLD HISTORY PROJECT / LESSON 6.4 ACTIVITYPart 2 - Round 2 Reflection Questions1. How did Round 2 differ from Round 1?2. Which round was better for you, personally?3. Which round do you believe was more fair? Why?
Name:Date:Name:Date:STUDENT MATERIALSS-4ECONOMIC SYSTEMS SIMULATIONWORLD HISTORY PROJECT / LESSON 6.4 ACTIVITYPart 3 – Matching and DefiningSort the following characteristics into either the capitalism or the socialism box below:• Multiple classes in society • Prices are controlled• Belief in “laissez faire” (non-interference by government)• Individuals follow their own self-interest• Equal distribution of wealth • People can own their land and businesses • Businesses compete to provide better goods and services at lower prices• Promotes equality• Laws of supply and demand act as an invisible hand to set prices• Communal ownership over land/enterprise Competing Economic Theories in the Industrial AgeCharacteristics of CapitalismCharacteristics of Socialism
Name:Date:Name:Date:STUDENT MATERIALSS-5ECONOMIC SYSTEMS SIMULATIONWORLD HISTORY PROJECT / LESSON 6.4 ACTIVITYDefinition of capitalism (in your own words): An economic system in which ...Definition of socialism (in your own words):An economic system in which ...Would you rather live in a capitalist or socialist society? Provide three reasons supporting why you prefer one over the other.