world and us economy
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WORLD AND US ECONOMY. Socratic Seminar. Globalization : Is globalization beneficial or detrimental to the international world? How effective is globalization? How can globalization affect international government policies on the environment? - PowerPoint PPT PresentationTRANSCRIPT
WORLD AND US ECONOMY
Socratic Seminar Globalization: Is globalization beneficial
or detrimental to the international world? How effective is globalization? How can globalization affect international
government policies on the environment? Which countries benefit the most from
globalization?
Remember:- Do NOT raise your hand to speak! - Try to “counter-point” someone else’s statement- Use statistics, facts, and real data!!!
Natural Disasters & Economy Article Quiz:1. What is the costliest decade for natural
disasters?2. What is the relationship between the cost of
these disasters and the death toll (rising/falling?)
3. Why are countries, like Bangladesh, prone to more natural disasters?
4. What did Kahn’s research indicate about developing countries and natural disasters?
5. Why are wealthier countries more at a disadvantage when natural disasters hit?
6. What does the Intergovernmental Panel on Climate Change believe will happen to natural disasters in the future?
7. How can one person’s wealth help protect him from a natural disaster?
Answers The past decade 2000-2010 Rising/falling Geographically prone to disasters GDP is higher then you would have fewer
deaths Better infrastructure (roads, bridges,
etc.) that are more valuable if destroyed. Climate change is going to raise the
damage by disasters More money = cleaner cars = no
pollution
Economic terms to know for the exam Globalization NAFTA European Union World Trade
Organization Debt Deficit Foreclosure Securities and
Exchange Commission Depression Recession Bailout
Free Trade Gross Domestic Product Inflation Deflation Tariff Unemployment Rate Profit Revenue Stimulus Supply Demand
Frontline: Meltdown http://www.pbs.org/wgbh/pages/frontline/meltdow
n/view/
United States: Top International Trade Partners
1. Canada - $696 Billion2. China - $488 Billion3. Mexico – $435 Billion4. Japan - $240 Billion5. Germany - $180 Billion6. UK – $134 Billion7. South Korea - $98
Billion8. France - $88 Billion9. Brazil - $74 billion10. Netherlands - $73
Billion(Through June of 2009)
United States: Top International Trade Partners
Map Continued – no particular order Saudi Arabia Venezuela Italy Belgium India Singapore Malaysia Nigeria Ireland Switzerland
Globalization McDonalds Restaurants worldwide?
31,000 total 119 countries in 6 continents
Interconnectedness – economically, politically, & culturally
Globalization Characteristics: Technology & Transportation Movement of People & Capital Diffusion of Knowledge Labor and Corporations
Globalization? Is globalization connecting the world or
tearing it apart?Pros:1. Productivity grows faster2. Living standards go up3. Global competition controls prices
(not getting too high)4. Spurs innovations and new ideas5. Job creation (exporting jobs)6. Betters the global economy7. Cultural intermingling and sharing
Cons:1. Loss of jobs due to imports2. Competition has decreased business size3. Often leads to pay-cuts4. Countries loose their identity (culture)5. Primarily focused on 1st-2nd world
countries6. Increase in diseases (travelers, workers)7. Exploiting labor (sweat-shops)
The Globalization Debate Barack Obama on Globalization
http://www.youtube.com/watch?v=7owMXrLu2d8
Is Globalization bringing the world together? Or is it tearing it apart? With a partner brainstorm a list of ideas
(both positive and negative) that addresses the above question.
Read Article: Thomas Friedman
ECONOMY LECTURE
Natural Disasters & Economy Top 10 Costliest Disasters since 1980
slideshow: http://money.usnews.com/money/busine
ss-economy/slideshows/the-top-10-costliest-disasters-since-1980
United States Current Debt
http://www.brillig.com/debt_clock/ http://www.usdebtclock.org/
How did the debt get so large? 1. taxes lowered 2. accumulates 3. treasury bonds
Debt Who owns the debt?
1. Fed Reserve & Intergovernmental holdings
2. Investors/Saving Bonds 3. China 4. Japan 5. Mutual Funds
Inflation Rate: Low since 1990 but rose to 4.1% in 2007 (lowered to 1.4 – 2012) Fed Reserve controls inflation Interest Rates go up while spending goes
down Reduce interest rates – increases money
supply – consumer spending increases. Statistics (unemployment, recession,
etc.) 7.3% for United States 7.1% for Missouri
Inflation Rates
Obama’s Budget Proposal Charts: http://www.nytimes.com/interactive/2010/0
2/01/us/budget.html 2011 Proposal
http://www.nytimes.com/packages/html/newsgraphics/2011/0119-budget/ 2012 Proposal
Housing Crisis 2007 Housing bubble 2006-2007
Bailout of major corporations 1. Mortgage lenders borrowed money 2. House payments increased 3. Demand for homes decreased 4. People could not sell their homes 5. Lenders declared bankruptcy 6. No loans being issued
http://www.youtube.com/watch?v=-vboCTGpI8Y
Auto Bailout Auto Crisis & Bailout
1. Auto industry was weakened due to oil prices
2. GM, Ford, Chrysler (Big 3) and Toyota 3. Govt bailout of the Big 3 4. Declining car sales 5. Labor jobs cut 6. Wages reduced Time for a Victory lap?
http://video.foxnews.com/v/4298942/obama-takes-victory-lap-on-auto-bailout
Recession- general slowdown in economic activity over a period of time
Deficit- amount by which expenditures exceed income
Deflation- decrease in the general price level of goods and services over time
Inflation- rise in general level of prices of goods and services over time
Unemployment rate (2013) – 7.3% US Debt (2013) – 16.9 trillion
World Economy NAFTA – North AmericanFree Trade Agreement
PROS CONSLow Tariffs & Lowers prices
Jobs are relocated (cheap labor)
Economic Support with 3 other countries
Increases competition for prices
Opened Markets (more products)
Increase in illegal immigration
Reducing Mexican poverty
Increase environmental hazards (trucks, factories have no restrictions)
World Economy WTO – World Trade Organization – 1995
Supporters argue that most of the member nations are democratic in government (who write the rules) and the WTO helps to raise living standards around the world
http://www.youtube.com/watch?v=X-ptS6Ln_ss
CRITICISIMS: Too Powerful – overpowering small sovereign statesRun by the rich and for the rich (not wanting to deal with developing countries)Lacks democratic accountability (not open to public)Does not concern itself with child labor, environment, workers rights, and health
US Trade Partners Canada China Mexico Japan Germany
World Economy EU – European Union
European Economic CommunityCommon Foreign and Security PolicyPolice and Judicial Cooperation
5 min – Financial Crisis 2013 US Debt Crisis 2013 - US Economy
Explained - Understanding the Financial Crisis http://
www.youtube.com/watch?v=OJk6vcztEds Bias?
Will/when our economy improve?CNN Outlook on US Economy: http://www.cnn.com/video/#/video/politic
s/2010/08/12/am.tully.economy.cnn?iref=videosearch
Fox News Outlook on US Economy:
http://video.foxnews.com/v/4323089/grim-state-of-us-economy-confirmed
Key Questions: Are tax refunds the best economic
stimulus measure? Should the federal government help
homeowners who face foreclosure? How can WTO and globalization be
linked together? Can you stem global warming and at the
same time promote economic growth?
ALA TOPICS AND MELTDOWN: FRONTLINE
Economic ALA Topic Suggestions: Oil Dependency Bush Tax Cuts Budget Deficit Fair v. Free Trade Mortgage Lenders Social Security Health Care Minimum Wage
Green Policies (and economy)
US Debt Housing Crisis Auto Bailout NAFTA WTO EU
Meltdown: Housing Crisis – How did the bubble burst? http://www.pbs.org/wgbh/pages/frontline
/meltdown/view/?utm_campaign=viewpage&utm_medium=grid&utm_source=grid
Video Clip – 55 mins Complete a 6-Chain of Events (and
discussion questions) on how the housing crisis began following through until the crisis goes global!
Videoconference Prep movies: Big Picture Small World:
http://www.bigpicturesmallworld.com/movies/index.shtml
World in 10 seconds: http://www.bigpicturesmallworld.com/movies/index.shtml
Leadership 101: http://www.bigpicturesmallworld.com/movies/index.shtml