Lesson 5 - Political Economies and Policy Goals

  • Lesson 5 - Political Economies and Policy Goals

    Once you have completed this lesson, you should be able to:

    Describe different political economies, their economic goals, and their approach to producing and sharing wealth, respecting individual economic freedom, and promoting the common good.
    Identify Canada’s 10 principal economic goals and describe the links and trade-offs among them

    Success criteria

    By the end of this lesson you will be able to understand the different types of political economies and their characteristics, and how they work to promote common goals.
    The relationship between politics and economics.


    • Icebreaker FORUM 5

      Name the Economic systems and the Political syatems.


    • Short Quiz 5

      How is Economics related to politics?

    • Lesson 5 Glossary (copy)

      Democracy
       A political system characterized by a freely elected government that represents the majority of its citizens. 

      Dictatorship
       A political system in which a single person exercises absolute authority over an entire country

      Political orientation
       The placement of specific ideas within a spectrum of political views ranging from extreme far-right thinking (fascism) to moderate views (capitalism and socialism) before extending to far-left thinking (communism). 

      Capitalism
       An economy characterized by private ownership of business and industry, the profit motive, and free markets. 

      Communism
       A political system on the extreme left, founded on the theory of Karl Marx, that calls for government or community ownership of the means of production. 

      Socialism

       A political system of the moderate left that calls for public ownership of the principal means of production, to be achieved in a democratic and peaceful manner.

      fascism
       A political system on the extreme right, combining a free-market economy with a non-democratic form of government. 

    • Discussion Forum - group work

      1. Why is the Canadian system often referred to as “welfare capitalism”?
      2. How might a neoliberal government's response to an economic recession differ from that of a socialist government?
      3. Considering the principles of communism, what are the potential benefits and drawbacks of its approach to solving economic challenges?

    • Lesson 5 Exit Card Questionnaire

      Students to complete this after you've finished all activities/tasks in today's lesson.

    • Lesson 5 B

      The Impact of Sociocultural Factors and Political-Economic Stakeholders on Economic Decisions

      Goal
      This lesson provides students a foundation for exploring the influences of different types of stakeholders on economic decisions

    • Assessment Assignment

      Answer the questions at the end of lesson notes.