Exploration

1. Exploration Lesson # 3 – Mercantilism

2. Agenda • Warm Up • Mercantilism – Reading • Balance of Trade – Equations • Colonization – Game! • Good bye

3. Monday is Columbus Day…

4. Friday, October 11 • Page 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 Smith • Page 113 • Attach “Mercantilism” • Page 114 • Leave blank, “Mercantilism” • Page 115 • Leave blank, title “Colonization” • Page 116 • Leave blank, title “Fun on Friday”

5. Mercantilism – Page 113 • You 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

6. What is mercantilism? • An economic policy that said a nation’s strength depended on its wealth • Five key points: • What – an economic policy • Why – money is important • Who – 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

7. Balance of Trade – Pg 114 • With 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

8. Balance of Trade: Achieved • What are the three ways it is achieved? • Reduce imports from other nations • Sell expensive exports • Control raw materials • Draw an image to depict each of these methods to achieve a favorable balance of trade

9. Colonization – Page 115 The Need for Raw Materials • Read pages 476-481 in the textbook • For each heading with a blue title, write down 2 key facts • Time: 10 minutes

10. Stump the Student – Page 116 Based 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:

11. Scoring “Stump the Student”

12. Exit Ticket • Why did mercantilism create a need for colonies? • Which colony had the most effective colonial system? Give three reasons why.

13. Exploration Lesson # 3 – Mercantilism Day 2

14. Agenda • Warm Up • Some Review Stuff (God, Gold, Glory) • Some New Stuff (Adam Smith) • Some Fun Stuff (Ban sodas?) • And then we write stuff. 

15. Monday, October 14, 2013 • Page 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 118 • Attach reading being provided by Ms. Wrede • Page 119 • Attach “Mercantilism & The Invisible Hand”

16. Quick Review • What was mercantilism? • An economic policy that said a nation’s strength depended on its wealth • What are three ways a balance of trade are achieved? • Reduce imports from other nations • Sell expensive exports • Control raw materials

17. Quick notes about your HW…Adam Smith “The Wealth of Nations” • Adam Smith was an economist • He believed countries (and people) could only create wealth when they were allowed to do as they wanted without any interference from the government • Brainstorm • Think of five ways that the government is involved in your life • Would you be better off if the government was more or less involved?

18. 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?

19. Adam Smith believed in something called… • 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!

20. Assignment of Article • Each 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

21. Pre-Seminar Work • Complete the sheet labeled Mercantilism & The Invisible Hand: Socratic Seminar • You 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.

22. Socratic Seminar Guidelines • Be respectful of each other’s opinions, comments, and backgrounds. • Offer solutions and suggestions, not criticism.

23. Writing Assignment – Page 119 • Write 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 like • 1st Body Paragraph • 2nd Body Paragraph • 3rd Body Paragraph

24. Exit Ticket • Write your thesis statement answering the question: