Exploration

Lesson # 3 – Mercantilism

AgendaWarm UpMercantilism – Reading Balance of Trade – Equations Colonization – Game! Good bye

Monday is Columbus Day…

Friday, October 11Page 112

Bell Ringer: Why is the some-ecard funny? Explain the joke.

Objective: Explain how the desire for expanding markets and increasing profits lead to colonization.

Attach Homework: Reading on Adam SmithPage 113

Attach “Mercantilism”Page 114

Leave blank, “Mercantilism”Page 115

Leave blank, title “Colonization”Page 116

Leave blank, title “Fun on Friday”

Mercantilism – Page 113You will have 20 minutes to complete the reading/questions

on Mercantilism (answer on Page 114) If you finish early, use clothes as an example and write a skit

that demonstrates how mercantilism works. This can be turned in for extra credit

With your partner, identify the three most important facts about mercantilism To be turned in 5 minutes

What is mercantilism? An economic policy that said a nation’s

strength depended on its wealthFive key points:

What – an economic policyWhy – money is importantWho – western nations (Europe and America)How – For one nation to become wealthier –

and therefore more powerful – it had to take wealth and power from another nation

When/Where – Europe in 1500/1600s

Bala

nce

of T

rade

– P

g 11

4With your partner, write an equation. Any

subtraction equation.Remember, equations have to balance (3-1=2)

Now think: you are a merchant selling coats. Do you want to get out what you put in?

NO!!Money spent = money made

Why are you selling coats?TO MAKE MONEY!Money made – money spent = profit OR

E – i = profit

Exports – imports = profits

Balance of Trade: AchievedWhat are the three ways it is achieved?

Reduce imports from other nationsSell expensive exportsControl raw materials

Draw an image to depict each of these methods to achieve a favorable balance of trade

Colonization – Page 115 The Need for Raw Materials

Read pages 476-481 in the textbookFor each heading with a blue title, write

down 2 key factsTime: 10 minutes

Stump the Student – Page 116Based on the questions from the Mercantilism

and Conquest & Colonies reading, write 10-15 questions

They must be answerable questions (ex: What was the encomienda system?)

Set it up like this in your notebook:Question Answer

1. 1.

2. 2.

3. 3.

4. 4.

Scoring “Stump the Student”

Correctly Answered

(Mark # of questions YOU answer right)

= 1 point each

Stumps

(Mark # of questions your opponent gets WRONG)

= 2 points each

Round 1

Round 2

Round 3

Total: ___ Total: ___

Total you answered right: _____ + Total you stumped your opponent _____ = _____

Exit TicketWhy did mercantilism create a need for

colonies?Which colony had the most effective colonial

system? Give three reasons why.

Lesson # 3 – MercantilismDay 2

AgendaWarm UpSome Review Stuff (God, Gold, Glory) Some New Stuff (Adam Smith) Some Fun Stuff (Ban sodas?) And then we write stuff.

Monday, October 14, 2013Page 117

Bell Ringer: Define Balance of Trade and identify 3 ways in which it can achieved

Objective: Explain how the desire for expanding markets and increasing profits lead to colonization.

Homework: Study Guide due tomorrow for extra credit!

Page 118Attach reading being provided by Ms. Wrede

Page 119Attach “Mercantilism & The Invisible Hand”

Quick ReviewWhat was mercantilism?An economic policy that said a nation’s

strength depended on its wealthWhat are three ways a balance of trade are

achieved? Reduce imports from other nationsSell expensive exportsControl raw materials

Quick notes about your HW…Adam Smith “The Wealth of Nations”Adam Smith was an economistHe believed countries (and people) could only

create wealth when they were allowed to do as they wanted without any interference from the government

BrainstormThink of five ways that the government is involved

in your lifeWould you be better off if the government was

more or less involved?

Let’s look at Adam Smith…What difference does Adam Smith see between

animals and man? Does Adam Smith think positively or negative

about beggars? How does Adam Smith suggest beggars

improve their lives?Do you agree with Adam Smith’s stance on the

poor? What are the “necessities” of life? How does

Adam Smith suggest that beggars obtain them?

A free market economy that is guided by “the invisible hand”

That means…If a nation wants to colonize and is able to colonize,

it can!If a company wants to charge $$$ for a product and

people are willing to pay for the product, it can.If a company wants to pay its employees $ and they

will still work, it can.OR…as long as people are buying and selling

goods and services, no one can tell them not to!

Adam Smith believed in something called…

Assignment of ArticleEach student will receive one of six articles

about New York City Mayor Michael Bloomberg’s attempt to prohibit the sale of large sugar drinks during certain events (at stadiums, concerts, etc).

You will have 20 minutes to complete the reading, annotating and completing the assignment

Pre-Seminar WorkComplete the sheet labeled Mercantilism &

The Invisible Hand: Socratic SeminarYou will be given a fellow student’s name.

You will be monitoring their involvement in the discussion. Pay close attention to the rubric and take notes at the bottom.

Do not share the student’s name with them – if you are seen doing this, you will receive a zero.

Socratic Seminar GuidelinesBe respectful of each other’s opinions,

comments, and backgrounds.Offer solutions and suggestions, not criticism.

Writing Assignment – Page 119Write a thesis statement answering the question:

Was Mayor Bloomberg right to ban the sale of sugary drinks? Why or why not?

Construct an outline that demonstrates what your 5-paragraph essay would look like1st Body Paragraph2nd Body Paragraph3rd Body Paragraph

Exit TicketWrite your thesis statement answering the

question: