Title: The Daily Show with Mr. Maguth: Economic Crisis 2008

Subject: 11th Grade Economics

Overview: After researching the 2008 U.S. governmental bail out plan, and the rationale in favor and opposed to it, students will present the views of an economist, politician, activist, or governmental leader on a simulated and recorded ‘Daily Show’. Being sure to differentiate between the different types of economies, and explaining the opportunity costs and trade-offs of this plan, students will take and defend a position on the U.S. ‘Rescue’ plan during the simulation.

Ohio Social Studies Academic Content Standard:• D6/D7: Analyze the role of fiscal and regulatory policies in mixed

economies• A1: Explain how the character and meaning of a place reflects a society’s

economics, politics, social values, ideology and culture.

Objectives: By the End of the Lesson Students Will Be Able to:1. Formulate and defend their character’s position on the government’s 2008

rescue of private investment firms using economic theory.2. Differentiate between different types of economic systems3. Think critically about the governmental actions by analyzing its opportunity

cost and trade-offs.

Essential Question: What were the multiple perspectives surrounding the U.S. government’s 2008 intervention in the private financial markets, and what course of action would of worked best to protect the economic welfare of citizens?

Resources Needed: Lesson Plan (with questions), parental permission to video tape forms, video camera/ tape, Daily Show Sign, Jon Stewart Costume

Time Duration: Varies based on Number of Students (1 day per 11 students on 52 min periods)

Procedure:1. Before students enter, situate the classroom to replicate the Daily Show set

2. When students enter, collect any missing parental permission forms. Give students 3 minutes to review their research notes on their character’s economic beliefs and the 2008 economic crisis3. Tell students to remember that when they are ‘on stage’ they must portray their researched character’s ideas as it relates to the government’s actions, and these statements should incorporate economic theory learned in class (different types of economies, opportunity costs, trade-offs, and governments role in economy)

4. Remind students that they will only have three minutes of ‘camera time’ to spell out their character’s arguments, and one minute to answer any additional questions from the audience.

5. Have one student hit record and control camera -(Dialogue) “Welcome to the Daily Show with Mr. Maguth. I am Mr. Maguth and boy do we have a show for you tonight. With the U.S. Government,

allocating over 700 billion dollars to save Wall Street, some people are left asking what about Main Street? Having invited some of the world’s

greatest minds to the program to discuss the global financial crisis of 2008, we are in store for a ‘mind altering’ experience. Sit back, put your thinking caps on, and let’s welcome our first guest _________________.”

6. Introduce first guest (and repeat there after)

7. Questions for guest: (only has 3 minutes)

T E A C H E R

Stu

dent

Audience Area (Will ask Questions)Video camera

a. What’s your position on the governments actions, and why?b. But what’s the opportunity costs?c. How do your beliefs align with and discern with principles of market

and command economies. d. question from audience member (1 minute)

8. Thank you Mr./Mrs.__________ for coming on. Now, let’s invite our next guest onto the program Mr./Mrs._____________________.

9. Repeat as necessary

Closure:-5 minutes before the end of the period-Those students that did not complete their interview, will do so tomorrow.

Assessment/Evaluation:Have students complete a quick exit slip on “What were the multiple perspectives surrounding the U.S. government’s 2008 intervention in the private financial markets, and what course of action would of worked best to protect the economic welfare of citizens?”