Student Web Activity Lesson Plans

Chapter 26: Development of Economic Systems

Introduction
A number of nations have had significant industrial growth in recent decades. Many of these countries are transitioning from a command economy to a market economy. In this activity, students will learn about the challenges that Brazil, Russia, and China have faced as their economies emerged.

Lesson Description
Students will explore the CIA The World Factbook Web site, and answer four questions about the economies of Brazil, Russia, and China. Students will then select a country of their choice and summarize its economic overview.

Instructional Objectives

Learners will identify the economic priorities of Brazil, Russia, and China.
Learners will appreciate the importance of rule of law in a market economy.
Learners will summarize an economic overview of a country.

Student Web Activity Answers

A floating exchange rate, an inflation-targeting regime, and a tight fiscal policy are the three pillars of Brazil's economic program.
President Medvedev's priorities included "improving infrastructure, innovation, investment, and institutions; reducing the state's role in the economy; reforming the tax system and banking sector; developing one of the biggest financial centers in the world, combating corruption, and improving the judiciary."
According to the document, Russia's infrastructure "must be replaced or modernized if the country is to achieve broad-based economic growth. Corruption and lack of trust in institutions continues to dampen domestic and foreign investor sentiment. Russia has made little progress in building the rule of law, the bedrock of a modern market economy."
According to the document, "The Chinese government faces numerous economic development challenges, including: (a) sustaining adequate job growth for tens of millions of migrants, new entrants to the work force, and workers laid off from state-owned enterprises; (b) reducing corruption and other economic crimes; and (c) containing environmental damage and social strife related to the economy's rapid transformation."
Students' economic summaries will vary. Ask them to label their country as developed, developing, or newly developed, and explain why.