Lesson Plan: Capitalism Lab

Colin Grzeskowiak
#56265911


ETEC 530 65B

Constructivism Strategies for E-Learning

Master of Educational Technology
University of British Columbia, B. C.


Instructor Dr. Diane Janes
March 31, 2014

Lesson Plan: Capitalism Lab
In this reflection I will explain how I used various constructivist models, and a business
simulator called Capitalism Lab, to create an online final project for my Entrepreneurship 12
class. The constructivist models that I used are the Constructivist Instructional Model (CIM) as
outlined by Driver and Oldham (Matthews, 1994), the Predict-Observe-Explain Model (POE)
(White & Gunstone, 1982), and the Conceptual change Model (CCM) (Posner, Strike, Hewson,
& Gertzog, 1982). By incorporating the main concepts from these models into my online lesson
it created an interactive environment that promotes learning through prediction, reflection and
the construction of knowledge.
My Entrepreneurship 12 course resides on a Moodle with this online lesson (Appendix A) being
the final unit and project for the course. At this point in the course the students have learned
about various Entrepreneurship concepts such as accounting, advertising, procurement, private
labeling, supply chain, human resources, management, staff training, labor costs, economies of
scale, and economic cycles. The students understanding of these concepts will be tested in this
lesson as they will each be playing a business simulator called Capitalism Lab. This simulation
supports the ideas of situated cognition as students will be learning in an authentic simulated
context to how business is conducted in the real world.
Tasks one and three (see Appendix A) have students create posts that use their existing
knowledge to come up with predictions that explains the strategies they will implement in
playing Capitalism Lab (CIM). The difference between the tasks, is that task one will take place
at the beginning of the course, and task three will take place after the student played the game. In
both cases the students strategies will be posted into an online forum to share their predictions
and reflections with other students. As the course is self-paced the asynchronous nature of the
forum will provide scaffolding for the students. This zone of proximal development is explained
by Vygotsky as the distance between the actual development level as determined through
independent problem solving and the level of potential development as determined through
problem solving under adult guidance or in collaboration with more capable peers (Vygotsky,
1978, p. 86.)
Students will be given case studies and videos as resources to allow them to explore their ideas
(CIM), and test their predictions by observing how others have played this simulation given
different scenarios (POE). This case-based reasoning allow students to learn from multiple
perspectives which enhances the students cognitive flexibility.
Tasks number two and four have students playing the video game Capitalism Lab, which allows
students to explore the game as well as providing initial stimuli for them to develop, modify and
possibly change their existing ideas (CIM). The interactive nature of the game means that
students must continuously make predictions, observe results, and if their prediction proves false
search for an appropriate reason why (POE). It is this dissatisfaction with the consequences that
will encourage the student to ultimately seek new understanding (CCM). This is especially true
in task four where students are encouraged, for higher marks, to play the game several times to
complete the highest possible level.
The final task (Appendix B) has students rating various criteria on concepts found in the game,
and then reflecting on these concepts. In this way the activity is reinforcing the newly
constructed understanding of the student (POE). In addition the written reflections has students
accounting for the events of the game, which supports attempts at rethinking and reconstructing
their knowledge (CIM). My role as the teacher in this environment is to be a mentor, coach and
as a further resource for students to refer to for just-in-time learning.
Using the CIM, POE and CCM models in my Capitalism Lab online lesson I have created an
environment that allows students to continuously construct and expand their knowledge on the
business topics that they have learned in the Entrepreneurship 12 course. The online forums
provide a social element as well as scaffolding for other students. The simulation provides
interactivity that forces the students to make predictions, observe the results and then to make
corrections. In this way the students are continuously learning, reflecting and reinforcing the
business concepts that they learned in this course.
APPENDIX A:
ONLINE LESSON PLAN
Teacher: Mr Grzeskowiak Unit: 5 Final Unit Self-Paced Course:

Course: Entrepreneurship 12 Location: Moodle

Description of Module: Introduce Final Project for the Term.

Materials:
Students will receive their copy of the game Capitalism Lab (which they
purchased at the start of the course).
The Moodle will contain the following files
o The pdf version of the game manual.
o Various videos and assignments contained within the module as
listed in this lesson plan.


Objectives:
- This is the final project after they have completed the
previous four units on the concepts of Entrepreneurship.
- The purpose of this project is for students to apply their
theoretical business knowledge that they have acquired
previously and to use them in a real world business
simulation.
- Students will be given a specific business and financial goals
that will need to be met.
- Students will learn through hypothesis, interaction and
reflection.
- Business Disciplines that will be tested are accounting;
advertising, procurement; private labeling; supply chain;
human resources; management; staff training; labor costs;
economies of scale; economic cycles.



Time Introduction / Transition / Activity
25 min





























Time
Varies










Task 1: Online Forum Students participate asynchronously in an
online forum, due to the self-paced nature of the course. The
purpose of this forum is to identify the learners prior knowledge,
to provide social input from their peers and to allow the students
to make predictions prior to playing the game. To facilitate this the
students will be reflecting on and answering the following
questions:
1. What kind of business would you invest in first when you start
the game to start building your business empire? Will it be
retail, manufacturing, agriculture, mining/forestry or real
estate? State your business and why you choose that specific
business.
2. How important do you think advertising and building your
companies brand are to a company? If you improve your
brand recognition will this allow you to charge a higher price
for your goods and if so why?
3. What is private labeling and why would it be important for a
company to do this?
4. What do you think will be the business issues you will face
when running the following. Please give a detailed response to
each of these.
a. Retail
b. Manufacturing a product
c. Running a farm
d. Raising livestock
e. Extracting raw materials from a mine, oil rig or forest.
f. Buying and selling real estate
5. What are the pros and cons of setting up research and
development for your company?

Resources:

Videos:
1. The jist of Capitalism Lab: (1:53)
https://www.youtube.com/watch?v=7N1Elwil1jE
2. Lets Play Capitalism: (10:23)
https://www.youtube.com/watch?v=pgFlOqeXmF0#t=2
62
3. Capitalism (53:36)
https://www.youtube.com/watch?v=8Y1b2jeM3WI






















20 Min

























Case Studies:
1. KippurWares:
http://www.capitalismfans.com/businessjournals/see/
kippurwares.html
2. WMGP A Capitalism Lab Company:
http://www.capitalismfans.com/businessjournals/see/
wmgp_a_capitalism_lab_company.html
3. Muscovian Leatherworks:
http://www.capitalismfans.com/businessjournals/see/
muscovian_leatherworks.html
4. Global Resources Ltd.
http://www.capitalismfans.com/businessjournals/see/
GR.html
5. Pacific Forest:
http://www.capitalismfans.com/businessjournals/see/
pacific_forest.html


Task 2: Play Capitalism Lab on Easiest Level

The students will now play Capitalism Lab on the easiest level. The
point of this task is to have students become familiar with the
game as well as to test various strategies in an easier environment.
Students will need to complete the following goal before they are
able to move on to the next task.

Once you are in the game
1. Choose a single game
2. Choose a logo, portrait and name for your company.
3. You will be choosing the easiest level.
4. In the game you will need to complete the following.
1. Have a minimum of two retail stores in each city that are profitable.
2. Earn a minimum of $100,000,000 in profit
3. Produce at least 3 different products in factories that you sell at your
stores.
4. Have at least one farm, mine, logging camp or oil well.
5. When you have all of the above finished tell your instructor. He will fast
forward for a year in which you need to be profitable for this entire time.
Task 3: Reflection

Having successfully completed task 1 students will now post their
reply to the following question.
Now that you have become familiar with Capitalism Lab write about
20 Min









30 Min






what business strategy you used in the game (just give a brief play
by play of what you did) and then what worked and what didnt
work. In addition talk about if you would do anything different the
next time you play the game.

Task 4: Play Capitalism Lab

Now students will be expected to play the game on whatever level
they can achieve their goal. The higher the level the higher their
mark will be to encourage students to try the more challenging
environments.
Once you are in the game
1. Choose a single game
2. Choose a logo, portrait and name for your company.
3. You can choose which level you would like to play however this will be linked to
your grade. Once you have chosen show your instructor.
1. Level 2: Max 60%
2. Level 3: Max 70%
3. Level 4: Max 80%
4. Level 5: Max 90%
5. Level 6 or higher: Max 100%
4. In the game you will need to complete the following.
1. Have a minimum of two retail stores in each city that are profitable.
2. Earn a minimum of $100,000,000 in profit
3. Produce at least 3 different products in factories that you sell at your
stores.
4. Have at least one farm, mine, logging camp or oil well.
5. When you have all of the above finished tell your instructor. He will fast
forward for a year in which you need to be profitable for this entire time.

Task 5: Reflection Assignment

Once the students have successfully played the game on the
highest level, that they were able to complete their goal, they will
now complete the reflection assignment. To do this they will
download the word file of the reflection (Appendix B), complete it
and then submit it to the online forum for other students to read.

Conclusion:
Once the student is finished the assignment the teacher will go
over the results and discuss their answers with the students. The
student will then post their final version of this assignment into
the forum for other students to look at.

Evaluation / Assessment
Assessment will be based on the following rubric (Appendix C) for this assignment.



Appendix B:
Capitalism Lab Reflection Assignment

Now that you have successfully reached your goal in Capitalism Lab you will need to complete the
following assignment. Think carefully about each of the options and choose the most applicable one to
you. There is not one right answer for each criteria, just as in business there is more than one solution.
The comment section is where you will discuss what you have learned.
Accounting/Finance
How important was the information that accounting provided (profit/income charts,
balance sheets) helpful in you achieving your goals?
Very important Average Not Very Important I never
looked at them.
How important was the stock market in you achieving your goals?
Very important Average Not Very Important I never
bought/sold stocks
How important was being able to borrow money in you achieving your goals?
Very important Average Not Very Important I never
borrowed money
Reflect on the importance of accounting/finance in running your business?







Advertising/Private Labeling
How important was advertising in you achieving your goals?
Very important Average Not Very Important N/A
How important was private labeling in you achieving your goals?
Very important Average Not Very Important N/A
How easy was it to achieve market share for your various products?
Very important Average Not Very Important N/A
Reflect on the importance of advertising/private labeling in running your business?







Procurement/Manufacturing/Profit
How important was buying from the seaport in you achieving your goals?
Very important Average Not Very Important N/A
How important was being able to buy from competitors in you achieving your goals?
Very important Average Not Very Important N/A
How easy was it to find the balance in producing a product and the demand for the
product?
Very easy Average Difficult Impossible
How easy was it to make a profit with your factories?
Easy Average Difficult N/A
How easy was it to make a profit from your farm?
Easy Average Difficult N/A
How easy was it to make a profit from your Mine/Oil Rig/Lumber Mill?
Easy Average Difficult N/A
How easy was it to make a profit from your retail stores?
Easy Average Difficult N/A
How important was being able to borrow money in you achieving your goals?
Very important Average Not Very Important N/A
Reflect on the procurement, manufacturing and profit in achieving your business
goals.







Pricing Strategy
How influential were your competitors in you setting your prices?
Very influential Average Not influential N/A
How influential was your brand to the prices you set?
Very influential Average Not influential N/A
How influential was the quality of your product to the prices you set?
Very influential Average Not influential N/A
How influential was your market share in determining the prices that you set?
Very influential Average Not influential N/A
How influential was the cost of your product in determining the prices you set?
Very influential Average Not influential N/A
How influential was the profit of your business in determining the prices you set?
Very influential Average Not influential N/A
Reflect on the pricing strategy that you used to achieve your business goals.








Business Strategy
Reflect on your overall business strategy that you used to achieve your goal. What
strategies worked for your and what didnt. What were some of the difficulties that
you faced?












Appendix C:
Rubric For Capitalism Lab Unit


Task Not Meeting
Expectations
Poor Effort Average
Effort
Good Effort Excellent
Effort
Total
Task 1 0 Student did
not complete
the assignment
or effort was
too limited to
mark.
5 Student did
complete 1 or 2
questions but
did not provide
responses to
the rest of the
questions.
8 Student
answered all
of the
questions
however the
responses
were limited
and contained
very few
details.
12 The
student
answered all
of the
questions and
several
questions
contained
some good
insight and
details.
15 The
student
answered all
of the
questions and
each of the
reflections
were
insightful and
full of details.
15%
Task 2 0 The
student did not
complete the
assignment
4 The student
attempted the
task however
they were not
able to meet
any of the goals
and quit.
6 The
student
attempted
the task but
only
completed
two of the
goals that
were
required.
8 The
student
attempted
the task but
only
completed
three to four
of the
required
goals.
10 The
student
successfully
completed
the task and
was able to
meet all of
the goals.
10%
Task 3 0 The
student did not
4 The student
attempted the
6 The
student
8 The
student
10 The
student
10%
complete the
assignment
assignment but
the response
was too limited
and showed no
insight.
attempted
the
assignment
but they only
gave a play by
play of what
they did in
the game.
attempted
the
assignment
and they gave
a detailed
play by play
but not give a
lot of insight
into
reflection.
completed
the task and
gave excellent
insight into all
the questions
answered.
For the next task the student will receive the marks below only if they were successfully able to
complete that goal.
Task 4 5 - Two Stores 5 -
$100,000,000
in profit
5 Produce
at least 3
different
products
5 Have at
least one
farm, mine,
logging camp
or oil well
5 Business
continued to
be profitable
through the
entire year on
fast forward.
25%
Marks
based on
level
achieved.
-3 Level 2
For this level
the teacher
will deduct 3
marks
-0.5 Level 3
For this level
the teacher will
deduct 0.5
marks
3 Level 4 6.5 Level 5 10 - Level 6 10%
Task 5 0 Student did
not complete
the assignment
or it was so
poorly done a
mark cannot
be assigned
10 Student
attempted to
complete the
assignment but
only completed
the checkboxes
with no
comments.
20 Student
completed all
the
checkboxes
and at least
one or two of
the
comments
were well
done.
25 Student
completed all
of the
checkboxes
and all of the
comments
were
complete but
some lacked
insight and
detail.
30 The
assignment
was
successfully
done and the
comments
provided
detailed
insight.
30%
Total 100%





For the lesson rate from 1 5 for each of the criteria given:
1 - Criteria is not present in the lesson
5 - Excellent implementation in the lesson.
1 2 3 4 5

Is the performance environment adequately defined: (physical climate; socio-
cultural climate; organizational climate; time frame; history)?

Is the problem interesting, appealing or engaging?
Is the activity authentic? Either the same cognitive challenges as in the real
world or personally relevant/engaging for the learner.

Are learners able to manipulate and affect the environment in some way?
Do learners have access to a set of relevant experiences (cases) which
represent multiple perspectives?

Are rich resources available to learners or online information tools to find
relevant information?

Are the resources provided available in a variety of formats? Images,
simulations, videos, text based.

Are online tools available to the learner to allow communication with other
learners?

Is the role of the teacher that of a coach, mentor or facilitator?
Do learners have adequate control over their learning goals?
Are learners able to identify their own prior knowledge?
Are the learners given an environment where they have the opportunity to
predict, observe and explain the outcomes?

Are there opportunities for learners to explore their ideas?
Are learners able to test their predictions?
Is the new concept, they are learning, meaningful?
Is it reasonable that students can construct the intended knowledge in this
environment?

Are the activities interactive?
Are cognitive tools available that allow the learner to visualize and organize
material to support thinking skills?

Is new understanding reinforced through problems, questions or activities?
Does the activity promote cooperative learning?
Is there adequate scaffolding provided by the teacher and/or peers?
Are the learners asked to articulate and reflect on their results?

Constructivist Criteria for Lesson Evaluation
References:

Brill, J. M. (2001). Situated Cognition. In M. Orey (Ed.), Emerging perspectives on learning, teaching, and
technology. Retrieved from http://projects.coe.uga.edu/epltt/
Jonassen, D. (1999). Designing constructivist learning environments. Instructional design theories and
models: A new paradigm of instructional theory, 2, 215-239.

Matthews, M. R. (1994). Science Teaching. New York: Routledge, chapter 7
Posner, G. J, Strike, K. A., Hewson, P. W, & Gertzok, W. A (1982). Accommodation of a scientific
conception: Toward a theory of conceptual change. Science Education, 66(2), 211-227.
Von Glasersfeld, E. (2008). Learning as a Constructive Activity. AntiMatters, 2(3), 33-49.
Vygotsky, L.S. (1978). Mind and society: The development of higher mental processes. Cambridge, MA:
Harvard University Press
White, R, & Gunstone, R. F. (1992). Probing Understanding. London: The Falmer Press, chapter 2 & 3