Lesson: Eileen Sheehy -- The Chinese Marketplace / Trade, Exchange, Values: A Simulation
Grade 9-12/US Government: Students will learn the reality of risk in a free market by making decisions about what to sell in the Chinese marketplace; their performance will be evaluated based on whether the items sold, and whether they sold at above or below market price, as well as on their reflections about their decisions. Students will make decisions about what to buy in the Chinese marketplace and will bargain for the price, thereby setting market price. They will be evaluated based on their own narrative about their choices and the reasons for their choices. Students will understand that in a purely capitalist system, market price is the amount the buyer is willing to pay and the seller is willing to take. Students will examine the meaning of “market” and begin to make connections between absolutes in a marketplace and theories of market economics. Students will discuss the interconnectedness of American and Chinese markets, as a beginning point to connecting to the larger picture of the interconnectedness of currencies and their values.
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