Bellringer Objective: Analyze how globalization has impacted trade. Homework: Answer: Do you think...
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Bellringer • Objective: Analyze how globalization has impacted trade. • Homework: Answer: Do you think that international trade is in general a good thing or a bad thing? Why?
Bellringer Objective: Analyze how globalization has impacted trade. Homework: Answer: Do you think that international trade is in general a good thing
Bellringer Objective: Analyze how globalization has impacted
trade. Homework: Answer: Do you think that international trade is
in general a good thing or a bad thing? Why?
Slide 2
In your groups, find objects in the classroom and locate what
country they are made in. Note: You can use clothing, electronics,
toys, notebooks, et ceterabut DO NOT go into anyone elses stuff!
Using your handout, write the item on the country it derives from.
You have five minutes in your group. The group that comes up with
the most items wins!
Slide 3
Slide 4
EQ: How can we explain the impact of current events and
globalization on the international economy Objective 9.04: Assess
how current events impact decisions made by consumers, producers,
and government policy makers. Objective 9.05: Explain the impact on
the United States economy of international trade and global
products. Objective 9.06: Investigate the ways that domestic and
international economies are interdependent. CURRENT EVENTS AND
INTERNATIONAL TRADE
Slide 5
Where do you think these companies are located? Switzerland The
Netherlands England Great Britain Thailand Japan United States
Canada United States GLOBALIZATION: when countries depend on each
other politically and economically
Slide 6
Why do countries trade with one another? International trade
helps nations get all the goods they need even though they can only
produce a limited amount of goods. International trade affects our
Gross Domestic Product (GDP): the goods and services a country
produces in a year The US GDP ONLY includes things produced in the
United States! Determines whether a country is DEVELOPING or
DEVELOPED Consumer Price Index (CPI): measures the average prices
of goods and services How do you think trade affects prices? How do
countries decide which goods to produce? Comparative advantage:
when a country can produce a good or service at a low cost compared
to other countries Things considered in comparative advantage:
Climate Resources available (land? water?) What consumers in that
country are likely to buy (ex. Can consumers in Ethiopia afford to
buy cars? Probably not. So Ethiopia shouldnt make cars.)
Slide 7
What a Developed Country Looks Like 1.High Energy Consumption
2.More service oriented or industrial jobs 3.Low Infant Mortality
Rate
Slide 8
What a Less Developed Country Looks Like (LDC) Low energy
consumption More agrarian and some industrial High Infant Mortality
Rate
Slide 9
US Import: a good brought in from another country Examples:
Does every country benefit equally from international trade?
Slide 10
US Export: a good sent to another country Examples: Does every
country benefit equally from international trade?
Slide 11
Trade balance: the relationship between a nations imports and
its exports Trade surplus: nation exports more than it imports
Trade deficit: nation imports more than it exports Favorable
balance of trade: a country with a trade surplus Unfavorable
balance of trade: a country with a trade deficit What sort of
balance of trade do you think the US has? Are all countries with a
favorable balance of trade are benefitting from international
trade? Are all countries with an unfavorable balance of trade being
hurt by international trade?
Slide 12
If a country exports $2.5 billion worth of goods but imports
$4.2 billion worth of goods, what sort of balance would this be? Is
this favorable? Is the country making a profit? Or is this
unfavorable? Is the country at a loss?
Slide 13
Slide 14
Analyze the Chart and Answer Questions What is this chart
comparing? How much does the U.S. export or sell to China? How much
does the U.S. import or buy from China? Redefine favorable balance
of trade:
How does the government limit trade? IMPORT QUOTA: a trade
barrier that limits the amount of a good that can be imported Ex.
US has import quotas on sugar to help protect American sugar
growers and make sure theyre earning enough $$!
Slide 18
How does the government limit trade? EMBARGO: completely
stopping trade with a country no trade Ex. US embargo against
CubaUS refuses to trade with Cuba until it develops a democratic
government (this is why Cuban cigars are so expensive and rare!)
http://www.youtube.com/watch?v=W50RNAb my3M
Slide 19
How does the government limit trade? TARIFF: a tax on imported
good Ex. Between 2002-2003, US had a tariff on imported steel to
help steel-makers in the US earn money!
Slide 20
How does the government limit trade? FREE TRADE: openly trading
with other countries Ex. North American Free Trade Alliance (NAFTA)
between Canada, Mexico, and the USwe can trade freely!
Slide 21
Which would you use if you were trying to Prohibit trade with
another country? Encourage trade with another country? Protect
American jobs and industries that compete with other countries?
LEAST LIMITED TRADE MOST LIMITED TRADE
Slide 22
Is globalization a positive or negative thing? How has it
impacted people around the world?
http://www.youtube.com/watch?v=ruh0O_mj 1v0
http://www.youtube.com/watch?v=ruh0O_mj 1v0
http://www.youtube.com/watch?v=pLwVycO7 V-
k&playnext=1&list=PLFA3768BD2A38654D&fe
ature=results_main http://www.youtube.com/watch?v=pLwVycO7 V-
k&playnext=1&list=PLFA3768BD2A38654D&fe
ature=results_main
Slide 23
Summarize: Is globalization and interdependence a necessity for
our survival? On the back of your paper, answer the above question
in at least 5 sentences. Be sure to include 3 of the below words:
Interdependence, Quota, China, favorable balance of trade,
unfavorable balance of trade, comparative advantage,
Slide 24
A look inside the Jean Curtain
http://www.youtube.com/watch?v=nwMZ2b9hdTY
http://www.youtube.com/watch?v=CCrUZuyZHyk A look inside the Denim
Curtain Take notes on things that strike you as concerning. Is
globalization a necessary evil?