“The Wheat Game.” Unit Three: Learning Objectives: North Clackamas School District Social...
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Economics Mr. Kirby CHS Unit 2: Lesson 9 “The Wheat Game.”
“The Wheat Game.” Unit Three: Learning Objectives: North Clackamas School District Social Studies Priority Standards: Econ 51 (B): Define economic terms
Unit Three: Learning Objectives: North Clackamas School
District Social Studies Priority Standards: Econ 51 (B): Define
economic terms and identify examples of them in a current
economy.
Slide 4
Daily Learning Target I CAN. participate as a buyer or seller
in a simulation that shows how a competitive market works.
Slide 5
The Wheat Game Simulation
Slide 6
Daily Learning Target I CAN. participate as a buyer or seller
in a simulation that shows how a competitive market works.
Slide 7
Its the Holiday Season! Whats on your wish List?
Slide 8
. I would like my two front teeth Santa and to win The Wheat
Game Today!
Slide 9
The Wheat Game [Turn to your Entrance Slip Now!]
Slide 10
Slide 11
Slide 12
Slide 13
An economic system that permits the conduct of business with
minimal government intervention is called free enterprise.
Slide 14
The Market The most important economic institution in a market
economy is, not surprisingly, the market. In a market economy
PRICES allocate goods and services.
Slide 15
The Wheat Game [Starting in 30 minutes]
Slide 16
The Market Prices are established through the inter- action of
buyers and sellers in the market- place.
Slide 17
Key Terms to Know Commodity: A product such as petroleum, milk,
wheat or corn that is considered the same no matter who produces or
sells it. Futures: Contracts to buy or sell commodities at a
particular date in the future at a price specified today.
Slide 18
The Market Simulation Rationale for Todays Simulation: By
participating in this simulation, YOU will experience how markets
work and how the forces of supply and demand establish prices.
Slide 19
The Market Simulation WORK TO BE TURNED IN TODAY! (PROOF OF
PARTICIPATION): ENTRANCE SLIP (20 POINTS) ACTIVITY 7.3 PACKET
FILLED OUT COMPLETELY (40 PTS.) Game Score sheet Supply and Demand
graph Debriefing questions answered in complete sentences (1-10)
YOUR PROFITS WRITTEN ON THE FRONT AND CIRCLED TOTAL POINTS:
60-Formative
Slide 20
Rules of Engagement Each of you has a packet with a score sheet
in it. Lets take a look at it now! It is VERY IMPORTANT to receive
points for this activity to record every transaction you make. This
will document your PROFITS OR LOSSES.
Slide 21
Rules of Engagement You CANNOT trade beyond your means. You
cant buy without any $$$ (duh). This means you must keep track of
your trades. You cant Go in the hole (red)! If this happens, your
record sheet is null and void and does not count.
Slide 22
Rules of Engagement: Help Wanted (3 positions needed)! Buyers
record each transaction on your own record sheet at your desk. Pick
up a new card from my desk- (The Buyers Broker ). Dont look at the
card-automatic DQ. Seller will record each transaction on your own
sheet and report to The Recorder OR IT IS NOT an OFFICIAL
TRANSACTION. Pick up another card from the Sellers Broker.
Slide 23
Rules of Engagement There will be six rounds of trading. Each
round is 5 minutes. The first round is a practice round to get your
feet wet. Rounds 2-6 will count towards your total score.
Slide 24
Rules of Engagement ONCE YOU HAVE AN OFFER AND AN ACCEPTANCE (A
DEAL) .. RAISE YOUR HAND AND I WILL VERIFY THE DEAL AS THE
COMMODITIES MARSHALL by saying SOLD. NO APPROVAL. NO DEAL!
Slide 25
Who Will be Crowned Champion of the World? There will be a
winner-no- THREE winners from each side: the 3 buyers who makes the
largest profits and the 3 sellers who makes the largest profit!
Show Prizes Now!
Slide 26
Completing and signing your entrance slip(Read the fine
print!): I have completed the Entrance ticket completely and
understand the Rules of Engagement for todays WHEAT MARKET GAME! I
will follow the rules and play fairly in conjunction with the rules
and procedures established by the FTC, CHS, the FFA, the NBA,WNBA,
NFL, MLB, Wonder Bread, Franz Bread, Daves Killer Bread and the
American Wheat Trading Federation. Sign and Date Now Please!!!
Slide 27
A Market in Wheat Pre- Game Show (Tips/Strategy) Good Afternoon
ladies and gentleman. My name is Jimmy The Geek your expert trading
analyst with some answers and advice to the most common questions
asked regarding the wild, weird and whacky world of Commodities
trading.
Slide 28
A Market in Wheat Pre- Game Show Q : To make a large profit,
should you be making many or few transactions? A: Often the
students who make the most transactions also make the largest
profit.
Slide 29
A Market in Wheat Pre- Game Show Q: Should you let other
students see the information on your card? A: No, you will lose the
power to negotiate if the other party knows the point at which you
will drop out of the negotiating process.
Slide 30
A Market in Wheat Pre- Game Show Q: Do you have to make a
profit on every transaction to have a profit at the end? A: No.
Again, more transactions generally garner more profit. Taking a
loss on a particular transaction may be wise because the player
will get a new card.
Slide 31
A Market in Wheat Pre- Game Show Q: Should you watch the
classroom tally sheet on the overhead during the trading rounds? A:
Yes, it allows you to know at what prices transactions are being
made as well as the prices where negotiation would be
fruitless.
Slide 32
A Market in Wheat Pre- Game Show Good Luck and Happy Trading My
Cool New Friend !
Slide 33
Lets Get Ready to Ruuuumble! We will divide the class in half
NOW and have each group line up on opposite sides of the room. One
group will be buyers and the other group will be sellers. Take note
of those standing across the room, as these will be the students
with whom YOU will be able to negotiate.
Slide 34
Lets Get Ready to Ruuuumble! Everyone will start out with one
Trading Card. BROKERS READY! Buyers draw now. Sellers now draw. You
can only buy or sell ONE bushel of wheat at a time. Once you buy or
sell your bushel, draw another card. Final advice from the
Commodities Marshall .
Slide 35
The Wheat Game [Round 1: Practice]
Slide 36
At the sound of the bell.. Come Out Trading!!!
Slide 37
The Wheat Game [Round 2]
Slide 38
At the sound of the bell.. Come Out Trading!!!
Slide 39
The Wheat Game [Round 3]
Slide 40
At the sound of the bell.. Come Out Trading!!!
Slide 41
The Wheat Game [Round 4]
Slide 42
At the sound of the bell.. Come Out Trading!!!
Slide 43
The Wheat Game [Round 5]
Slide 44
At the sound of the bell.. Come Out Trading!!!
Slide 45
The Wheat Game [Round 6]
Slide 46
At the sound of the bell.. Come Out Trading!!!
Slide 47
Who Will be Crowned Champion of the World? There will be a
winner from each side: the buyer who makes the largest profit and
the seller who makes the largest profit! Please Total Your Scores
Now! Two winners will be crowned shortly!
Slide 48
And the winner is !!! Add Your Scores Now!
Slide 49
The Market Simulation WORK TO BE TURNED IN TODAY! (PROOF OF
PARTICIPATION): ENTRANCE SLIP (20 POINTS) ACTIVITY 7.4 PACKET
FILLED OUT COMPLETELY: Game Score sheet Supply and Demand graph
Debriefing questions answered in complete sentences (1-10) YOUR
PROFITS WRITTEN ON THE FRONT AND CIRCLED