Economic Systems Lesson Plans

Young scholars explain what an economic system is and how it works. In this economic systems lesson plan, students create a sample item to produce. Young scholars have a short window to create additional products. Students discuss and understand supply and demand.

Students research economic systems.  In this economy lesson, students prepare and deliver a presentation based on their research of the three major types of economic systems. This lesson includes 6 activities which are designed to further their understanding of market economy.

Fourth graders investigate and justify the geographic reasons why the colonists settled in the locations they did, and how this led to their economic system using a map of the original thirteen colonies.

Students identify and describe the four types of economic systems. Using new vocabulary, they review their own questions about economic choices. In groups, they examine one of the economic systems more in depth and share their information with the class.

Students explain the basic functions of the various economic systems. As a class, they identify the main characteristics of capitalism and the advantages of division of labor and specialization. They describe the relationship between the accumulation of wealth and increased productivity as well.

Students examine the American economic system. In this economics lesson, students research the organization of American business and determine how business decisions are made.

Students investigate how the six natural regions of Arkansas work together to form the economic system of the state. They read a paragraph and articles about the state and complete an activity that demonstrates interdependence. They determine how Arkansas is involved in world trade.

The class is divided into thirds and each third conducts Internet research on one of the three economic systems. They use an Inspiration template to type in a definition and facts about their assigned economic system. A four-two-one strategy is employed to assist students in sharing what they have found out about their systems with each other.

Students research communist and third-world economic systems and compare them to that of the United States. They asses the three types of economies and determine the impact of natural resources and arable land on a nation's economy.

Ninth graders explore China's economic system and the future of the system. They define economic terms, research websites to find examples of how China is developing into a mixed economy system and how it competes with the U.S. for resources. Afte researching, they list three factors of production China is using in its growing economy.