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2040 - Comparing Economic Models
Lesson1 of 2 in this unit
SecondaryYear 9 - 10Humanities and Social SciencesBusiness and EconomicsEnvironmentalClimate ChangeSustainability
Lesson Summary
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')
Lesson Guides and Printables
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