TOPIC:

Business and Government – A Mixed Economic System

RESOURCES NEEDED:

A copy of the book The Invisible Heart:An Economic Romance by Russell Roberts

LEARNING OPPORTUNITY:

Many adults do not understand how business and the economy work. Before young adults head out into the working world, they would benefit greatly by learning about our economic system. This book combines economics with romance. It teaches business practices and money management concepts in a user-friendly way. Reading this book gives insights into basic economic principles and allows the reader to see different viewpoints about how an economy works.

THE ACTIVITY:

• Ask your teen if they know what kind of economy we have in our country. Explain that there are different kinds of economies and that our country uses a mixed
  economic system.
• Give a copy of the book to your teen and ask them to read it. Tell them that you will also read it and then you would like to discuss it with them when they are finished.
• Here is a brief summary of the book: When a private high school hires Sam, a new economics teacher, he finds himself in conflict with Laura, the feisty drama teacher. The two characters are used to illustrate different views about the world of business. As the couple debate their differences, love blossoms. Sam has faith in the human race and feels if governmental controls and aid are withdrawn, human beings would strive to reach their potential. People would then learn to take responsibility and find their own ways to make a life. This view causes a conflict and a rift in the relationship between Sam and Laura, but eventually they grow close again.

FOLLOW-UP IDEAS:

• Open the following website to learn about the other kinds of economic systems.
  http://www.shmoop.com/economic-systems/types.html