Objectives (5 - 7 minutes)

• The students will be able to define and explain the concept of Mercantilism, the economic theory that prevailed in Europe during the 16th to 18th centuries.
• The students will understand the central tenets of Mercantilism, such as the importance of accumulating wealth through trade, the role of colonies in providing resources, and the necessity of a favorable balance of trade.
• The students will be able to identify and describe key historical events and figures related to Mercantilism, such as the voyages of exploration and colonization.

Secondary Objectives:

• The students will develop critical thinking skills by analyzing the advantages and disadvantages of Mercantilism as an economic system.
• The students will enhance their collaborative skills by working in groups to complete hands-on activities related to Mercantilism.
• The students will improve their communication skills by presenting their findings and conclusions to the class.

Introduction (10 - 12 minutes)

• The teacher begins the lesson by reminding students of the previous topics they have learned that are related to the concept of Mercantilism. This includes the Age of Exploration, the colonization of the New World, and the early global trade routes. The teacher asks a few leading questions to help students recall these topics and their relevance. (2 - 3 minutes)

• The teacher then presents two problem situations that can serve as a starting point for understanding Mercantilism.

  • Problem 1: "Imagine you are a king or queen of a European country in the 16th century, and your country has just discovered a new land with abundant resources. How would you ensure that your country benefits the most from these resources?"
  • Problem 2: "You are a merchant in the 17th century, and your country is seeking to build its wealth through trade. How would you conduct your business to ensure your country's success?" The teacher encourages students to ponder these questions, fostering curiosity about the topic. (3 - 4 minutes)

• To contextualize the importance of the subject, the teacher provides real-world applications of Mercantilism. For instance, the teacher may explain how some modern economic policies and practices, like protectionism and the concept of trade deficit, have roots in Mercantilism. The teacher can also discuss how the legacy of Mercantilism can still be seen in the global economic system today. (2 - 3 minutes)

• The teacher then grabs the students' attention by sharing two intriguing stories or facts related to Mercantilism.

  1. "Did you know that during the era of Mercantilism, some European countries would go to great lengths to protect their trade secrets? For example, the British East India Company, one of the most powerful companies of its time, had its own army and navy to protect its trade routes and territories."
  2. "In the 18th century, a French economist named Pierre Samuel du Pont de Nemours coined the term 'Mercantilism' in a derogatory sense, criticizing the system for its focus on accumulating wealth at all costs, rather than promoting the general welfare." The teacher encourages students to think about the implications of these stories and how they reflect the principles of Mercantilism. (3 - 4 minutes)

Development (20 - 22 minutes)

Activity 1: "Trade Wars" Board Game (10 - 12 minutes)

• The teacher divides the class into groups of four and provides each group with a "Trade Wars" board game kit. The game kit includes a game board, game cards, small tokens representing resources, and dice. (1 - 2 minutes)

• The objective of the game is for each team to accumulate the most resources by the end of the game. The resources can be obtained through trade, colonization, or conflict with other teams. The teacher explains the game rules and objectives to the students before they start playing. (2 - 3 minutes)

• The game board represents a world map with different territories and trade routes. Teams take turns to roll the dice, move their tokens on the board, and make decisions on whether to trade with other teams, colonize new territories, or initiate conflicts with their opponents. Each action has its own benefits and risks, simulating the real-world decisions made during the period of Mercantilism. (5 - 7 minutes)

• The teacher circulates among the groups, observing the game, and providing guidance or answering questions as necessary. The teacher ensures that the students are applying the concepts of Mercantilism in their game strategies. (2 - 3 minutes)

Activity 2: "Prosperity or Bust" Role-Play (10 - 12 minutes)

• The teacher introduces the second activity, a role-play called "Prosperity or Bust." In this activity, each group will be assigned a role - either a European country, a colony, or a merchant. The aim is for each group to maximize their wealth by trading with other groups and making the right economic and political decisions. (1 - 2 minutes)

• Depending on their assigned roles, each group is given a set of resources, a brief description of their current economic and political situation, and a list of possible actions they can take. The teacher ensures that each group has a clear understanding of their role and the possible actions they can take. (2 - 3 minutes)

• The groups then engage in the role-play, discussing and deciding on their next moves. They must consider their current resources, potential trading partners, and the potential risks and benefits of their actions. The teacher circulates among the groups, facilitating the role-play, and ensuring that the students are applying the principles of Mercantilism in their decision-making. (5 - 7 minutes)

• After the role-play, the teacher leads a class discussion where each group shares their strategies, decisions, and the outcomes of their actions. The teacher highlights how the role-play reflects the principles of Mercantilism and encourages students to reflect on their experiences. (2 - 3 minutes)

The activities are designed to be hands-on, engaging, and fun, while also allowing the students to apply the concepts of Mercantilism in a practical, interactive setting. Through these activities, the students are able to gain a deeper understanding of the economic theory and its historical context.

Feedback (8 - 10 minutes)

• The teacher begins the feedback session by facilitating a whole-class discussion where each group shares their solutions, strategies, and conclusions from the activities. The teacher encourages the students to reflect on their experiences during the activities and how they relate to the theory of Mercantilism. (4 - 5 minutes)

  • For the "Trade Wars" board game, the teacher asks each group to share their strategies for accumulating the most resources. The teacher then helps the students connect these strategies to the principles of Mercantilism, such as the focus on trade, colonization, and accumulating wealth.
  • For the "Prosperity or Bust" role-play, the teacher asks each group to share their decisions and the outcomes of these decisions. The teacher then facilitates a discussion on how these decisions reflect the principles of Mercantilism, such as the importance of a favorable balance of trade and the role of colonies in providing resources.

• The teacher then asks the students to reflect individually on the day's lesson and write down their answers to the following questions: (2 - 3 minutes)

  1. What was the most important concept you learned today about Mercantilism?
  2. Which questions do you still have about Mercantilism?

• After the students have had a few minutes to reflect and write, the teacher invites a few volunteers to share their responses with the class. The teacher provides feedback on these responses, clarifies any misconceptions, and answers any lingering questions. (2 - 3 minutes)

• To conclude the feedback session, the teacher summarizes the key points of the lesson and explains how the hands-on activities helped to deepen the students' understanding of Mercantilism. The teacher also provides a preview of the next lesson, which will delve deeper into the effects of Mercantilism and the transition to other economic systems. (1 - 2 minutes)

By the end of the feedback session, the students should have a clear understanding of the key concepts of Mercantilism and how these concepts were applied in the historical context. The teacher should also have a good sense of the students' understanding of the topic and any areas that may need further clarification or exploration in future lessons.

Conclusion (5 - 7 minutes)

• The teacher begins the conclusion by summarizing the main points covered in the lesson. This includes a brief recap of the definition of Mercantilism, its central tenets, and its historical context during the 16th to 18th centuries in Europe. The teacher also recaps the key events and figures related to Mercantilism, such as the Age of Exploration, the colonization of the New World, and the establishment of trade routes and companies. (2 - 3 minutes)

• The teacher then explains how the lesson connected theory, practice, and real-world applications. Theoretical knowledge about Mercantilism was applied in practical, hands-on activities such as the "Trade Wars" board game and the "Prosperity or Bust" role-play. These activities allowed the students to understand the principles of Mercantilism in a tangible and interactive way. Moreover, the teacher highlighted how the legacy of Mercantilism can still be seen in modern economic policies and practices, thus connecting the historical concept to its real-world applications. (1 - 2 minutes)

• To further enhance the students' understanding of Mercantilism, the teacher suggests additional materials for further study. These could include documentaries about the Age of Exploration, books on the history of Mercantilism, or online resources that provide a more detailed overview of the economic theory. The teacher encourages the students to explore these resources at their own pace and to come prepared with any questions or insights they may have for the next class. (1 - 2 minutes)

• Lastly, the teacher underscores the importance of understanding Mercantilism for everyday life. The teacher emphasizes that although Mercantilism is an economic theory from the past, its influence can still be felt in the present. Many of the economic practices and policies that shape our modern world, such as protectionism and trade deficits, have roots in Mercantilism. By understanding the historical context and principles of Mercantilism, the students can gain a deeper insight into the current global economic system and its challenges. (1 - 2 minutes)

By the end of the conclusion, the students should have a clear and comprehensive understanding of Mercantilism and its relevance to their lives. They should also be equipped with the necessary resources to further explore the topic and deepen their knowledge.