Comparing economic models
In this lesson, students will explore the traditional circular flow economic model and evaluate the factors of the economy that are not considered.
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.
Learning intentions:
Students will...
- understand the limitations of the circular flow economic model
- understand the principles of the ‘doughnut’ economic model
- understand the difference between both circular flow and ‘doughnut’ economic models
Success criteria:
Students can...
- identify the principles of the circular flow economic model
- identify the importance of environmental and social wellbeing in an economic model
- ideate features of an ideal economic model
- compare two economic models (circular flow and ‘doughnut’)
Credits and acknowledgements:
Curriculum material and mapping has been developed and written by Cool.org.
Cool.org, 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, and our philanthropic partners in the development of these teaching resources.
Watching the film
If your school or institution has a ClickView subscription, you can access 2040 on the ClickView platform.
If you do not have access to ClickView, you can purchase an educational licence to screen the film to your class and request a streaming link to share with your students. Please complete the Host a Screening form on our website and our team will be in touch to assist you.
The educational licence is for primary and secondary schools who wish to utilise the film as a learning tool or host on-site screenings for the school community.
Curriculum mapping
What you'll need
- Lesson materials
- Device capable of presenting a video to the class
Lesson materials
More from this unit
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