Business Cycles
1. Prosperity
2. Recession
3. Depression
4. Recovery
2. Pick which relationships constitute the important dimensions of understanding for that concept (Need References).
According to the Texas Education Agency (§130.112. Principles of Business) students are required to identify business cycles. In order for students to understand any of these cycles they will first need to understand how supply, demand, employment, GDP (Gross Domestic Product), and prices are determined and affected. Consumers and businesses confidence need to be identified and measured too. Supply is related to demand and demand is related to levels of employment. Students need to understand the correlation between all factors. Depending on what cycle of business the economy is consumers will feel confident about spending more and businesses will supply more. These factors will let students identify in what business cycle our economy is currently in.
3. Identify which of those relationships have not already been acquired by the learners, and list them as new relationships to be taught.
a. Evaluate what is considered high or low unemployment
b. Identify the four basic laws of demand and supply
c. Calculate GDP
d. What are the factors that boost or doom businesses and consumers confidence?
4. Pick the best practice of using multimedia technology for each new relationship. (For example, Alice, Scratch, Video Clips…etc.)
1. Scratch can be used to develop a game where students will need to identify the correct business cycle.
2. Xtranormal can be used to develop an animation demonstrating several scenarios that show the different cycles.
3. There are several video clips available that demonstrate the basic laws of demand and supply, for example this one found on www.youtube.com (http://www.youtube.com/watch?v=t1j3mjEd3wg&feature=fvwrel).
References:
Texas Essential Knowledge and Skills (2010). Texas Education Agency. Retrieved from http://ritter.tea.state.tx.us/rules/tac/chapter130/ch130d.html
VizuaModuleSystem (2011). Supply and demand in 3.5 minutes. Retrieved from http://www.youtube.com/watch?v=t1j3mjEd3wg&feature=endscreen&NR=1
This is a subject I can honestly say I am AWFUL at. I was getting my degree in GBA (General Business Administration) when I realized I was not very good at it and switched to teaching. I do not have a business mind and the terms you listed above on the sub-topics remind me of this! :)
ReplyDeleteHowever, I like that you used the TEKS to incorporate the importance of this and that you included some of the background knowledge that students would need prior to grasping these concepts. I also liked that you gave multiple technology uses with scratch, xtranormal, and links to a youtube video. I definitely think that videos would be great ways to help students understand these concepts. Also, another alternative is that after they watch the videos and learn the material on their own, then letting them create their own videos by teaching students in a way that helps them better understanding since it's on the same level they are.
Lauren very good idea of letting students create their own video. As a matter of fact, while searching for ideas on how to teach these concepts, I found this youtube video (http://www.youtube.com/watch?v=-_bfAbhkVGI) where students actually create a "music video" about the business cycle. To me it wasn't the best, yet I am convinced that these students will never forget the business cycle. As educators, we need to find ways for students to comprehend a concept and remember it always. Like the saying goes, "What is well learned, will never be forgotten!"
ReplyDeleteThanks Becky! I like to allow the students to do their own interpretation of assignments by giving them very short open-ended directions. For example, for this I would tell them to "create a video about the business cycle". This way, students could create a music video, demonstrate the business cycle, or just do a powerpoint, it's wherever their imagination takes them. I'm not sure if this will work as well with older students as it does with my younger ones, since they still have their little creative bugs.. but it's definitely worth a shot!
DeleteWhat a great subject to think about!!!
ReplyDeleteBecky, I really like the idea of using Xtranormal for demonstrating scenarios. I actually like to get on youtube.com and see what people have used xtranormal to show. I think teachers have really improved in finding alternative ways for their students to demonstrate what they have learned. This will take them far in their futures.
ReplyDelete