9th Grade Neoclassical Counterrevolution Lesson Plan Example (Comparative Economic Planning)

Topic: Neoclassical Counterrevolution

Objectives & Outcomes

• Students will be able to define neoclassical counterrevolution and identify its key characteristics.

Materials

• Class materials: Textbook, notes, PowerPoint slides (optional)
• Personal materials: Pen or pencil, paper

Warm-up

• Ask students if they know what the classical political economy is. Allow a few students to answer and discuss their answers as a class.

Direct Instruction

• Explain that the classical political economy refers to the period in the late 18th and early 19th centuries when the ideas of classical political economy were developed.
• Introduce the key figures of classical political economy, such as Adam Smith, David Ricardo, and Thomas Malthus.
• Discuss the main ideas of classical political economy, such as the labor theory of value, the theory of comparative advantage, and the notion of the market as an efficient mechanism for allocating resources.
• Outline the main criticisms of classical political economy, such as the argument that the labor theory of value is inconsistent with the existence of non-laboring classes, that the theory of comparative advantage fails to take into account the influence of geopolitics on trade, and that the notion of the market as an efficient mechanism for allocating resources fails to consider the negative externalities that can arise from market activity.

Guided Practice

• Have students work in small groups to create a Venn diagram displaying the key similarities and differences between the ideas of classical political economy and neoclassical counterrevolution.
• Have each group present their Venn diagram to the class and explain their reasoning for the chosen arrangement of the similarities and differences. Questions for discussion:
• What are the key similarities between classical political economy and neoclassical counterrevolution?
• What are the key differences between classical political economy and neoclassical counterrevolution?
• What are the implications of these similarities and differences for the development of economic thought?

Independent Practice

• Have students choose one of the following topics and create a short presentation (5-10 minutes) on their chosen topic:
• The impact of neoclassical counterrevolution on economic policy
• The impact of neoclassical counterrevolution on economic theory
• A specific example of a classical political economy concept that was rejected by neoclassical counterrevolution
• A specific example of a neoclassical counterrevolution concept that was adopted from classical political economy
• The contributions of key figures from neoclassical counterrevolution such as: Adam Smith, David Ricardo, Thomas Malthus, and James Mill
• The limitations of neoclassical counterrevolution
• The legacy of neoclassical counterrevolution
• The impact of neoclassical counterrevolution on the study of economics
• Anecdotes or examples demonstrating the relevance of neoclassical counterrevolution to the real world

Assessment

• Grade the presentation based on content, presentation skills, and adherence to the assignment criteria.

Closure

• Have students reflect on what they have learned about neoclassical counterrevolution and how it has impacted the study of economics.
• What are the main limitations of neoclassical counterrevolution?
• How has neoclassical counterrevolution contributed to the development of the field of economics?
• How does neoclassical counterrevolution continue to influence contemporary economic thought and theory?
• How does neoclassical counterrevolution compare to other intellectual movements such as classical political economy and the Keynesian Revolution?
• Ask students to share their insights and reflections with the class.
• Discuss as a class any interesting or insightful insights or observations made by students.

Assessment

• Assess students' understanding of the concept of neoclassical counterrevolution through their participation in group activities and discussion, their group projects and presentations, and their participation in class discussions.
• Use the presentations and class participation to evaluate students' understanding of the limitations of neoclassical counterrevolution and the ways in which it continues to influence contemporary economic thought and theory.