Game Directions – Each pair starts with 5 points Before each round, you and your partner will decide among these 3 options for earning points: For each round, check the box on your scoring sheet to indicate which option you are choosing. This must be done before the die is rolled and cannot be changed. After the die is rolled, determine how many points you earned in that round. If you “Go for the Gold!,” points earned are determined by the number rolled. The higher the roll, the greater the number of points. After each round, compute and enter your point total in the “Running Total” column. Hold Tight Keep what you have Play it safe Potential for modest gain Go for the GOLD Potential for amazing gains
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 -10 -40 Round 7 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 -10 -40 Round 7 -4 -5 -6 -8 -20 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 -10 -40 Round 7 -4 -5 -6 -8 -20 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 -10 -40 Round 7 -4 -5 -6 -8 -20 Round 8 Round 9 Round 10
Point Earnings Hold Tight Play it Safe Round 1 +1 +2 +3 +4 +5 +6 +7 +1 +2 +3 +4 +5 +6 +7 Round 2 Round 3 +8 Round 4 +9 Round 5 Round 6 -10 -40 Round 7 -4 -5 -6 -8 -20 Round 8 Round 9 Round 10
DEBRIEF How did you feel when the points were rising? When they dropped dramatically? Which of the three game options produced the worst results in the end? Can you think of any time in history when something like this happened?
This activity was intended to simulate the rise and fall of the U. S This activity was intended to simulate the rise and fall of the U.S. stock market in the late 1920s. The stock market crash contributed to the worst economic collapse in American history: the Great Depression. In this lesson, you will learn about the primary causes of the Great Depression, including the stock market crash.
Create a T-chart Game History
Create a T-chart Many of you selected the “Go for Gold!” option with hopes of earning lots of extra points Many Americans invested in the stock market in the 1920s with the hope of getting rich Some of you bought Bonanza Chips to increase your points Many investors bought stock on margin to increase their gains
Point values decreased dramatically in the last round. The stock market crashed and Americans lost billions of dollars. When brokers demanded that people repay their loans, many investors went deeply into debt. Even those who chose to “Play It Safe” lost their points The stock market crash led to a banking crises. Failing banks closed their doors, and people who had money in these banks sometimes lost everything.
Stock Market Crash Many Americans invested in the stock market in the 1920s with the hope of getting rich Many investors bought stock on margin to increase their gains – over-speculation The stock market crashed and Americans lost billions of dollars. The stock market crash led to a banking crises. Failing banks closed their doors, and people who had money in these banks sometimes lost everything. It’s a Wonderful Life – Bank Run http://vimeo.com/37034368
Overproduction and Underconsumption Overproduction – mass-production (industrialization) and new farming techniques increased production of goods and crops Underconsumption – wages had not increased and people were too deep in debt to borrow more money.
More products were available than people could afford to buy. People borrowed money to be able to buy more products, increasing personal debt. Many people stopped buying goods and those who could afford to buy goods already had everything they needed.
Initial Government Response Federal Reserve raised interest rates What is an interest rate? Companies couldn’t afford to borrow money to stay in business Workers lost jobs and could no longer buy goods Companies lost both capital and customers
Initial Government Response cont. Hawley-Smoot Tariff Act – raised tariffs on imported goods to protect American goods European companies in response raised tariffs American goods became too expensive for Europeans, causing businesses to lose more money Greatly reduced international trade
Processing The parts of a kinetic sculpture are constantly moving. For example, a ball might hit a lever that sets off a pulley. The pulley might, in turn, pull a bucket that dumps water on a paddle wheel. The paddle wheel creates another movement. Different actions can take place independently of one another as well. But all the actions together have a combined result.
Assignment: Draw and label a simple kinetic sculpture commemorating the causes of the Great Depression. At least one part on your sculpture must represent each Key Content Term. Great Crash, Overproduction Underconsumption Federal Reserve tariff These terms may appear on your machine in any order. However, the more clearly you can show how one action led to another, the more elegant your machine will be.