Economics Systems Simulation Game. ( Lesson 2)

1. Economics Systems Simulation Game. (Lesson 2) By Joseph Johnson

2. AIM: Which economic system best answers the three questions? (What to produce?, How to produce it?, Who gets it?)

3. How to play • Students will be separated into four equal groups. • Students will be their own business and produce products based on their company food, housing, car maker, or energy and communication. • Students will draw on a blank sheet of paper products that they want to sell to other students based on your company. • Teacher will also be a consumer and pay students for products based off of need. • Students need all products to survive in the real world and will purchase goods from other students to live and sell their products to others to make a profit. • Students will start with 3 pieces of paper to get more they must buy another piece to create more products costing 1 M&M (price may change due to supply and demand)

4. The Rules • Students must participate in the economic system through buying and selling. • Students may not eat profits!!!!!!!!! Until the end of the class that day • Students if they choose may work with one other person to create a product. In the beginning • Students at the end of each turn must pay taxes set by the government (the teacher) • Drawings once sold cannot be reused they are consumed Hint - (products do not have to be grade A artwork but must appeal to students)

5. First Society • In society students can sell products for whatever price they choose to sell it at. • At the end of each round 1 M&M will be taken as tax • Students are free in this type of economy to make his or her own decisions.

6. Second Society • The classroom rules have now been altered Universal Health care is now in effect students in the energy and communication business now must pay taxes with half of their profit on any given drawing of energy. • This will help the government provide healthcare and services to those that are poor and have less M&M . • The tax is still the same.

7. Third Society • The classroom rules have changed slightly all students are now equal and will have the same income and the same amount of M&M’s the wealth will be redistributed. • All drawings will be given to the government the pay will be 3 M&M’s for all those wearing red and 2 for those that do not conform and are wearing a different color. • Students must all make and color drawings with only pencils to conform to the same and equal products nothing is different. • The tax is still the same.

8. END OF SIMULATIONS Discussion After the simulation

9. Questions • Compared to other students, how did you feel at the start of the game? • What happened to your amount of candy at the end of the game? How did this make you feel? • Do you think this game was fair? • What could I as the government of done to make the game fairer? • Which economic system was more appealing to you based on your economic position?

10. HOMEWORK • Students for homework write a two page reflection paper on the game, which is to include the information of (What did you like about the game?, What did you not like about the game?, Which economic system did you like the most?, and which economic system did you like the lease?). Include 3 examples from the lesson to support your reflection