Comparing economic models (US)
In this lesson, students will explore the traditional circular flow economic model and evaluate the factors of the economy that are not considered. Students will then explore an alternative framework, as examined in the film, 2040 – ‘Doughnut Economics’. They will evaluate the similarities and differences between the two models.
Overview
In this lesson, students will explore the traditional circular flow economic model and evaluate the factors of the economy that are not considered. They will share their own views about the circular flow economic model.
Students will then explore an alternative framework, as examined in the film, 2040 – ‘Doughnut Economics’. They will evaluate the similarities and differences between the two models.
Teaching Strategy: Facilitate class discussion, Think Pair Share, Stand on the Line Activity,
Learning intentions:
- Students understand the limitations of the circular flow economic model
- Students understand the principles of the ‘doughnut’ economic model
- Students understand the difference between both circular flow and ‘doughnut’ economic models.
Credits and acknowledgements:
Cool.org prepared the 2040 Curriculum Guide. Together Films adapted these lessons for US educators and will do an annual review of these resources to ensure they are still in line with the US Curriculum.
US Educator Note: Australian educational standards have been adapted and aligned by discipline, and when possible, to US standards.
Cool Australia, GoodThing Productions and Regen Studios would like to acknowledge the generous contributions of Good Pitch Australia, Shark Island Institute, Documentary Australia Foundation, The Caledonia Foundation, Global Health Film and our philanthropic partners in the development of these teaching resources.
Watching the film
Watch the full film with your class by filling in this form. If you have any questions, please contact the Together Films team at 2040@togetherfilms.org
The Schools Version of 2040 includes an educational licence and is for US elementary and secondary schools that wish to utilise the film as a learning tool or host on-site screenings for the school community.
Curriculum mapping
What you'll need
- Learning materials.
- Student Worksheets – one copy per student.
- The Doughnut of Social and Planetary Boundaries Worksheet - one copy per student.
- Device capable of presenting a video to the class.
Lesson materials
More from this unit
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