World Trade Model - An Introduction to Economics
As we prepare to launch into our first social studies unit on economics next week, we introduced the concept of economics today through a world trade game. Students were divided into one of several "countries". Each country was given a random assortment of "Goods" that could be sold at different prices (gummy bears, strawberries, cookies, soda, and chips). The goal was for your country to end trading with the most money in goods.
In this photo, Canada is looking over their goods and deciding which goods to keep and which goods to trade with other countries.
England eagerly sorts its goods and decides what they want to trade.
Once trading began, each country eagerly brought their goods around to trade with others, each country trying to get the best deal.
As they were trading, groups would eagerly regoup to check on their teammates progress, brag about their trades, and decide on their next moves.
Students mingled aorund the classroom, negotiating trades.
After a period of trading, all countries returned to their "homes" to see how well they progressed.
Just when they thought the game was over and had started tallying their points, there was a Global Announcement: Due to droughts across the United States (the world's largest producer of strawberries), strawberry crops are at an all time low. There are just not enough strawberries to meet the demand. Because of this, the price of strawberries has gone up $2 per unit.
Students were given time to figure out their next trading strategy and then a second round of trading was opened.
Countries circulated for the second round of trading. Strawberries were the new hot item.
Halle and Stella enter intense negotiations. Mexico's strategy was to gather all of the highest price items, so Stella is trying to convince Halle to trade her strawberries.
Intense negotiations continue as countries mingle and trade their goods, trying to get the best deals.
Several countries came together to create their own trading market.
In a final Global Announcement, students learned that Canada has figured out a way to manufacture sodas much more cheaply. Because they can now sell sodas at a lower price, they are taking customers from other nations. As a result, any nations that have 1 Unit of Soda must give it to Canada.
Students regroup to tally up their final profits and learn which country made the most money after all trading was complete.
Countries take time to count up their final profits.
As her group tallies their winnings, Natalie won't miss the chance to pose for the camera.
After the activity, the class discussed what they learned about economics and trade.
