1. Lesson # 3 – Mercantilism
Exploration
Lesson # 3 – Mercantilism

2. Agenda Warm Up Mercantilism – Reading Balance of Trade – Equations
Colonization – Game!
Good bye

3. Monday is Columbus Day…

4. Friday, October 11 Page 112 Page 113 Page 114 Page 115 Page 116
Bell Ringer: Why is the some-ecard funny? Explain the joke.
Objective: Explain how the desire for expanding markets and increasing profits lead to colonization.
Attach Homework: Reading on Adam Smith
Page 113
Attach “Mercantilism”
Page 114
Leave blank, “Mercantilism”
Page 115
Leave blank, title “Colonization”
Page 116
Leave blank, title “Fun on Friday”

5. Mercantilism – Page 113
You will have 20 minutes to complete the reading/questions on Mercantilism (answer on Page 114)
If you finish early, use clothes as an example and write a skit that demonstrates how mercantilism works.
This can be turned in for extra credit
With your partner, identify the three most important facts about mercantilism
To be turned in
5 minutes

6. What is mercantilism?
An economic policy that said a nation’s strength depended on its wealth
Five key points:
What – an economic policy
Why – money is important
Who – western nations (Europe and America)
How – For one nation to become wealthier – and therefore more powerful – it had to take wealth and power from another nation
When/Where – Europe in 1500/1600s

7. E – i = profit Balance of Trade – Pg 114
With your partner, write an equation. Any subtraction equation.
Remember, equations have to balance (3-1=2)
Now think: you are a merchant selling coats.
Do you want to get out what you put in?
NO!!
Money spent = money made
Why are you selling coats?
TO MAKE MONEY!
Money made – money spent = profit OR
E – i = profit
Exports – imports = profits
Balance of Trade – Pg 114

8. Balance of Trade: Achieved
What are the three ways it is achieved?
Reduce imports from other nations
Sell expensive exports
Control raw materials
Draw an image to depict each of these methods to achieve a favorable balance of trade

9. Colonization – Page 115 The Need for Raw Materials
Read pages in the textbook
For each heading with a blue title, write down 2 key facts
Time: 10 minutes

10. Stump the Student – Page 116
Based on the questions from the Mercantilism and Conquest & Colonies reading, write questions
They must be answerable questions (ex: What was the encomienda system?)
Set it up like this in your notebook:
Question
Answer 1. 2. 3. 4.

11. Scoring “Stump the Student”
Correctly Answered
(Mark # of questions YOU answer right)
= 1 point each
Stumps
(Mark # of questions your opponent gets WRONG)
= 2 points each
Round 1
Round 2
Round 3
Total: ___
Total you answered right: _____ + Total you stumped your opponent _____ = _____

12. Exit Ticket Why did mercantilism create a need for colonies?
Which colony had the most effective colonial system? Give three reasons why.

13. Lesson # 3 – Mercantilism Day 2
Exploration
Lesson # 3 – Mercantilism
Day 2

14. Agenda Warm Up Some Review Stuff (God, Gold, Glory)
Some New Stuff (Adam Smith)
Some Fun Stuff (Ban sodas?)
And then we write stuff. 

15. Monday, October 14, 2013 Page 117 Page 118
Bell Ringer: Define Balance of Trade and identify 3 ways in which it can achieved
Objective: Explain how the desire for expanding markets and increasing profits lead to colonization.
Homework: Study Guide due tomorrow for extra credit!
Page 118
Attach reading being provided by Ms. Wrede
Page 119
Attach “Mercantilism & The Invisible Hand”

16. Quick Review What was mercantilism?
An economic policy that said a nation’s strength depended on its wealth
What are three ways a balance of trade are achieved?
Reduce imports from other nations
Sell expensive exports
Control raw materials

17. Quick notes about your HW… Adam Smith “The Wealth of Nations”
Adam Smith was an economist
He believed countries (and people) could only create wealth when they were allowed to do as they wanted without any interference from the government
Brainstorm
Think of five ways that the government is involved in your life
Would you be better off if the government was more or less involved?

18. Let’s look at Adam Smith…
What difference does Adam Smith see between animals and man?
Does Adam Smith think positively or negative about beggars?
How does Adam Smith suggest beggars improve their lives?
Do you agree with Adam Smith’s stance on the poor?
What are the “necessities” of life? How does Adam Smith suggest that beggars obtain them?

19. Adam Smith believed in something called…
A free market economy that is guided by “the invisible hand”
That means…
If a nation wants to colonize and is able to colonize, it can!
If a company wants to charge $$$ for a product and people are willing to pay for the product, it can.
If a company wants to pay its employees $ and they will still work, it can.
OR…as long as people are buying and selling goods and services, no one can tell them not to!

20. Assignment of Article
Each student will receive one of six articles about New York City Mayor Michael Bloomberg’s attempt to prohibit the sale of large sugar drinks during certain events (at stadiums, concerts, etc).
You will have 20 minutes to complete the reading, annotating and completing the assignment

21. Pre-Seminar Work
Complete the sheet labeled Mercantilism & The Invisible Hand: Socratic Seminar
You will be given a fellow student’s name. You will be monitoring their involvement in the discussion. Pay close attention to the rubric and take notes at the bottom.
Do not share the student’s name with them – if you are seen doing this, you will receive a zero.

22. Socratic Seminar Guidelines
Be respectful of each other’s opinions, comments, and backgrounds.
Offer solutions and suggestions, not criticism.

23. Writing Assignment – Page 119
Write a thesis statement answering the question:
Was Mayor Bloomberg right to ban the sale of sugary drinks? Why or why not?
Construct an outline that demonstrates what your 5-paragraph essay would look like
1st Body Paragraph
2nd Body Paragraph
3rd Body Paragraph

24. Exit Ticket
Write your thesis statement answering the question: