1. Economies in Transition
COPY and Define in binder
LEQ1: How does the transition from command to market effect individual’s and the nation’s economy as a whole?
VOCABULARY –
INFLATION
UNEMPLOYMENT
PRIVATIZATION
TRADE-OFFS

2. Making Transitions (copy in binder)
Think About It and Discuss It
What Economic System is it like living with your parents?
Why?
What Economic System is it like living on your own?
Describe the transition that you would experience going from living with your parents (Command Economy) to living on your own (Market Economy).
Food/Clothing
Home
Jobs
Loans

3. Command to Market Economy (copy in binder)
Positives
Negatives
More Products
More Private Ownership
More Efficiency
Higher Wages
Luxury Goods
Increase in Standard of Living
Unemployment
Inflation (Rise in Prices)
Debt
Homelessness
Greed
Strikes

4. A Real Economic Transition
Individual Assignment
Use the reading packet to complete the activity
DO NOT WRITE ON THE READING.

5. Public to Private Objectives – Think/Pair/Share – Define privatization
Understand transition from public to private
Identify problems of privatizing a state-owned enterprise
Think/Pair/Share –
Our society has applauded the efforts of nations of Eastern Europe to make the transition toward market economies. In a society that believes in free markets, why is there so little freedom of choice in our public education system?
Answer question in binder.
Share with partner. Be prepared to share discussion with class

6. Activity #1 – Vouchers for Schools
Read “Part 1 – Proposal” Individually
Write any questions you have about the proposals in your notebook
WHO HAS QUESTIONS ABOUT THE PROPOSALS?
Read “Part 2 – Economic Reasoning” Instructions as a class
Each table will be assigned three statements
In your binder, analyze your statements by completing A through D for each.
Make sure to write the number of the statement.
T/P/S – In a society that believes in free market, why is there little freedom of choice in our education system? (complete in binder)

7. Transition within the former Soviet Union (copy in binder)
Newly independent states transitioning to market economy
No longer state-run enterprises
Extremely difficult process
WHY?

8. Activity #2 – Read “Privatization in Transition Economies”
Answer questions in COMPLETE SENTENCES.
Use DETAILS and EVIDENCE from the reading to support your answer.
COMPLETE IN YOUR Binder.
LABEL PAPER CORRECTLY.

9. Exit Ticket
Analyze the data on the left. Speculate about that factors that would influence how quickly these countries were able to privatize.
HINT - (explain why some countries were able to and others not)
TURN INTO BIN

10. Going from Command to Market Diary
Create a diary with at least 5 entries explaining the transition your country is going through as it switches from a Command to Market Economy. (Be Specific)
Each entry must be at least 3 sentences.
What did you have before in a Command Economy and how is it changing in a Market Economy?
TURN INTO BIN