Students learn about the the economic-social systems of mercantilism, capitalism, and market economies. First they read an overview of feudalism, mercantilism, and capitalism. Then they examine mercantilism and use it to explain a world map of 1770 empires and colonies. Next they examine capitalism, including its relationship to democracy. Finally they learn about market economies and their relationship to capitalism.
Students are introduced to the lesson focus on emerging economic systems and review the objectives. They examine an image related to colonial gold mining and read about Gross Domestic Product (GDP), then watch the animation The History of World Economy to observe how national economies have changed from 1960 to 2021. Students record at least one observation about the GDP data in a shared class table. They then read that today’s economic systems largely emerged between the sixteenth and eighteenth centuries.
Teacher MovesPresent the lesson overview and objectives, emphasizing the connection between historical economic systems and modern economies. Prompt students to focus on patterns and notable changes as they watch the GDP animation, then review and highlight key observations from the shared table (such as dominant economies and late-emerging powers). Use these observations to transition to the idea that many current systems originated in the early modern period.
Students view an image of a feudal lord and peasants and read an explanation of feudalism as a social and economic structure. They then read about how feudalism gave way to mercantilism during the age of exploration, including how European powers used colonies for wealth through mining and trade, and how capitalism later developed from feudal and mercantilist systems. Students complete a drag-and-drop activity matching the terms feudalism, mercantilism, and capitalism to their definitions.
Teacher MovesClarify the key features of feudalism, mercantilism, and capitalism, checking for understanding of each term and how they relate historically. Review student responses to the drag-and-drop activity, correct misconceptions, and reinforce that the next scenes will examine mercantilism and early capitalism in greater depth.
Students read about mercantilism, including how European powers used American colonies to accumulate gold and silver and to increase exports, and how similar strategies were later applied in Africa and Asia. They read the article Mercantilism to deepen their understanding of the theory. Students complete a drag-and-drop sentence about exports and imports, then post their own definition of mercantilism to a class wall. After viewing a world map of major empires, they post an explanation connecting the locations and boundaries of the Spanish, British, Mughal, and Qing empires to mercantilist goals.
Teacher MovesGuide students through the main ideas of mercantilism, emphasizing export–import balance and the role of colonies in enriching the mother country. Review the drag-and-drop responses to ensure students understand why exports should exceed imports in a mercantilist system. Use student wall posts to co-construct a clear class definition of mercantilism. Then facilitate discussion using the world map, highlighting exemplary student explanations and drawing out contrasts between overseas colonial empires (Spanish, British) and regionally focused empires (Mughal, Qing).
Students read about the rise of modern capitalism in Europe as exploration and colonization created new markets, and they consult the article Capitalism to learn more about its key features. They view an image illustrating cottage industries in the American colonies. Working in a graphic organizer, students create a concept map that identifies and connects key ideas of modern capitalism, such as private ownership, profit motive, and limited government regulation. They then post to a class wall developing a theory about how a capitalist economic system relates to a modern democratic political system.
Teacher MovesSupport students in identifying core characteristics of capitalism and how it differs from earlier systems. Circulate as students build their concept maps, prompting them to include ideas like private property, markets, and limited government intervention. After students post their theories about capitalism and democracy, share and discuss strong examples, guiding students to see that both systems emphasize power and decision-making in the hands of individuals with constraints on government authority.
Students are introduced to market economies and read the article Market Economies to understand how market forces relate to capitalism. They examine an image and caption about seasonal demand for winter coats to connect supply and demand to pricing. Students answer a multiple-select question about which factors tie market economies to capitalism, focusing on supply and demand and private ownership. Finally, they post to a class wall explaining why they think modern capitalism emerged between the sixteenth and eighteenth centuries, supporting their opinions with evidence from the lesson.
Teacher MovesClarify the concept of a market economy and its relationship to capitalism, using the seasonal clothing example to reinforce how supply and demand influence prices. Review student responses to the multiple-select question to ensure they identify the correct factors linking market economies and capitalism. For the wall discussion, encourage evidence-based reasoning, accept varied interpretations, and introduce the two major historical perspectives on capitalism’s origins (economic liberalism and Marxist views) to broaden students’ understanding of scholarly debate.
Students complete the exit quiz by answering all the questions.
Teacher MovesFacilitate the assessment and use student data to evaluate understanding, address misconceptions, and identify areas for growth.
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