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External Shocks to the Global Economy - Lesson Plan: 2 x 1 hour lessons

A series of 'off the shelf' lesson plans and resources for use in the classroom. These lessons deal with External Shocks to the Global Economy and are relevant to the following specifications:

• AQA: Module 6
• Edexcel: Unit 6

Aim:

The aim of the lessons is to develop evaluation skills in students based around the topical issue of rising oil prices. Students will be asked to argue with themselves on the issue of the extent to which the oil price rises of the last year will affect the stability of the world economy. There are some clues given for each side (although no detail has deliberately been given).

The format can be adapted to allow students to work in pairs with each student taking the opposing view and arguing out the case but the suggestion of making an individual student create an argument and then take the opposing view themselves is designed to make them think in a way that promotes analysis and evaluation.

The suggested approach is to write out the argument as dialogue from a play, this way the student is forced to consider both views and to start to place an importance/significance on different aspects of the analysis.

If time and facilities permit, the students can roleplay the completed dialogue and the process can be recorded on video for further discussion and analysis.

Learning Objectives:

At then end of the sessions students should be able to:

• Identify at least four types of external shock to the global economy
• Recognise at least three possible effects of the rise in oil prices on firms and the economy
• Recognise at least three arguments favouring the proposed hypothesis and at least three arguments against it
• Use evidence from research to attach some significance to the arguments developed

Resources:

• PowerPoint Presentation - External Shocks to the Global Economy [414 KB] (basic version also available for quicker download [253 KB])
• Mind Map - External Shocks to the Global Economy
• Activity - External Shocks to the Global Economy
• PCs for student research
• Video camera (optional)

Lesson Structure:

Lesson 1

1. Ask students to write down three factors they think have a significant impact on the global economy. Ask each student (or a selection if a large group) to explain one of the factors and how it is likely to affect the global economy. (10 minutes)
2. Relate the discussion above to the PowerPoint Presentation. Draw out the issues discussed (hopefully most of them will overlap) and seek out some examples of past events that have caused such shocks. (20 minutes)
3. Explain the meaning of the term 'evaluation' and 'analysis' in the context of an economics examination and outline the nature of the Activity. Students can be directed to the guide on exam technique and assessment objectives. (10 minutes)
4. Students to begin work on the Activity. (15 minutes)
5. Review the main points of the lesson and outline the plans for the next lesson. (5 minutes)

Lesson 2

1. Remind students of the plan for this lesson. (5 minutes)
2. Set students on task. (35 minutes)
3. Draw the group back together and get students to feedback the outcome of their work. (Additional time can be allocated to a third lesson if the group size and/or the level of enthusiasm dictate.) (15 minutes)
4. Review main outcomes of the lesson. (5 minutes)