Objective
The student will be able to:
- evaluate how changes in fiscal and monetary policy can impact the economy.
Resources/Teacher Preparation
- Flippity.net flashcard activity or the Matching Monetary and Fiscal Policy Tools Activity
- Matching Monetary and Fiscal Policy Tools Activity (Answer key)
- How to create Flippity.net flashcards video https://www.youtube.com/watch?v=BquKPxNRsTY
- Print out the Fiscal and Monetary Policy Dominoes slides (student) – one per student or one per group if students are completing the activity in groups.
- Dominoes for paper manipulatives (each page separate set of dominoes) Cut out the dominoes – one set per student or group of students.
- Fiscal and Monetary Policy Dominoes Slides (Answers)
- Fiscal and Monetary Policy (Cloze) (student)
- Fiscal and Monetary Policy (Cloze) (answer key)
Instruction
Warm-up
Students should have a good understanding about how monetary and fiscal policy works before teaching this lesson. Use the flippity.net flashcards or the Matching: Monetary and Fiscal Policy Tools Activity to review vocabulary.
Modeling
Explain and demonstrate the procedure for the dominoes activity. 1. Make sure each student has a paper copy of the activity. – slides and dominoes. 2. The first domino is already on each slide. Explain that the students need to find the domino that explains how to lower “unemployment rate is 8%” Slide 2. You can continue and complete slide 2 as a class.
Activity
As the students are placing their dominoes on Slides 3 – 10 of the Student Activity, the teacher will circulate around the room answering questions. After all of the students have placed their dominoes on their slides, the teacher will ask what was the economic problem on slide <insert slide #> ? What does inflation or recession mean? Was this an expansionary or contractionary policy? What does expansionary or contractionary mean? Who is more effective in fighting inflation? Recession? Why?
Individual practice
After class discussion, students will complete the Fiscal and Monetary Policy (Cloze) (student) The Cloze Activity is a teaching strategy that uses incomplete passages with the students filling in the blanks based on their knowledge from the activity. Cloze procedure, or cloze reading, is a teaching strategy that uses passages of text with missing words. The learner inserts the missing words using context clues and constructs meaning from the text. https://decoda.ca/back-to-basics-cloze-procedure/#:~:text=Cloze%20procedure%2C%20or%20cloze%20reading,constructs%20meaning%20from%20the%20text.