Economic Systems and Macroeconomics

What works better: a planned economy or a market economy? Join the global debate with a Crash Course video about macroeconomics and the differences between economic systems. With quotes from Adam Smith and Karl Marx guiding instruction, the narrators clarify the ways these economic systems respond to the needs of the consumers and their governments.

52 Views 33 Downloads
CCSS: Adaptable
Instructional Ideas

  • Assign the video the night before a lesson on macroeconomics
  • Pair with an economics lesson on free markets and planned economies, or in social studies when learning about socialism, capitalism, and communism
Classroom Considerations

  • Most helpful alongside extensive instruction about economic systems and monopolies
  • Video is around 10 minutes long, and the narrators speak quickly; consider adding pauses to clarify concepts
Pros

  • Video is engaging and explanatory
  • Uses real-world examples to explain complex concepts
Cons

  • None