Activity 01
Think-Pair-Share: Free Markets vs. Regulation
Students read a short excerpt from Smith's Wealth of Nations and a brief description of mercantilist policy. Individually, they list one strength and one weakness of each approach. Pairs debate which system better serves national prosperity, citing specific evidence. Groups share key arguments and the class maps points of agreement and conflict.
Analyze how Adam Smith's ideas on free markets challenged mercantilist economic policies.
Facilitation TipFor the Think-Pair-Share, assign roles: one student summarizes Smith’s argument, another critiques it, and a third connects it to a current policy.
What to look forPose the question: 'If Adam Smith were alive today, what modern industry or government policy would he most likely critique using his 'invisible hand' concept? Why?' Allow students to share their reasoning and engage in respectful debate.