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Mixed Economy Lesson Plan

Instructor: Tammy Galloway

Tammy teaches business courses at the post-secondary and secondary level and has a master's of business administration in finance.

Help your students explore mixed economic systems with this lesson plan. Students will watch an informative video lesson, participate in discussion questions and engage in two activities that culminate in group presentations.

Learning Objectives

After this lesson students will be able to:

  • Define economy
  • Compare and contrast a market, mixed and planned economy
  • Discuss the advantages & disadvantages of a mixed economy

Length

1 hour

Curriculum Standards

CCSS.ELA-LITERACY.RH.9-10.7

Integrate quantitative or technical analysis (e.g., charts, research data) with qualitative analysis in print or digital text.

CCSS.ELA-LITERACY.SL.9-10.1.b

Work with peers to set rules for collegial discussions and decision-making (e.g., informal consensus, taking votes on key issues, presentation of alternate views), clear goals and deadlines, and individual roles as needed.

Instructions

  • Begin by asking students to define an economy. Allow students to share their response.
  • Define an economy as a system whereby the production of goods and services, the countries policies and measurements of consumption are set by consumers, businesses and/or the government.
  • Tell students when the government, consumers and businesses collaborate on economic policies and strategies, it is called a mixed economy; which is what we will discuss today.
  • Begin the What is a Mixed Economy? - Definition, Characteristics & Examples video and stop at 0:49.
  • Ask students to identify a country with a planned economy and a country who runs a market economy; require them to explain their rationale.
  • Resume the video and stop at 1:40.
  • Shoulder pair students and ask them to:
    • define monopoly
    • give an example of a monopoly
    • discuss advantages and disadvantages of a monopoly
  • Play the video until the end.
  • Then pose the following questions to the class:
    • Describe governmental assistance in a mixed economy.
    • Discuss the benefits and drawbacks of a mixed economy.
    • Would you rather live in a mixed, planned or market economy, why?
  • After the discussion distribute the lesson quiz to demonstrate learning.

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