Day 13: Mercantilism Baltimore Polytechnic Institute

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Presentation transcript:

Day 13: Mercantilism Baltimore Polytechnic Institute September 13, 2012 A.P. U.S. History Mr. Green

Objective At the end of this lesson, students will be able to evaluate mercantilism by comparing and contrasting the benefits and burdens of mercantilism

Warm-Up Review of the Great Awakening and the Enlightenment

Motivation Explain possible strategies the United States can implement to increase revenues in order to pay down the national debt

Mini-Lesson Mercantilism A theory and an economic system Prevalent in the 15th and 16th centuries in Europe-after feudalism and before Smith A country’s wealth was measured by the amount of gold and (specie) it possessed Wealth in the 17th and 18th centuries equaled power In order to obtain wealth (gold & silver) a country must obtain colonies to provide it with wealth Mother country and colonies must become a self-sufficient unit that does not rely on imports from other countries or the colonies A favorable balance of trade with mother country and colony Colonies should not compete with the mother country, rather complement the mother country. If mother country is involved in manufacturing, the colonies should not be. .

Triangular Trade Small in relation to total colonial commerce Leave New England with rum to Gold Coast of Africa Trade rum for slaves then sail to the West Indies Trade slaves for molasses, then back to New England

Salutary Neglect Navigation Laws were only weakly enforced What were the Navigation Laws??

Mercentalism Students will identify the goals of mercantilism, the burdens of mercantilism on the colonies, and the benefits of mercantilism to the colonies

Independent Work Analyze the exports/imports chart and answer the question

Exit Ticket Students will read a quote and answer questions to assess the lesson

Homework Read American Pageant Chapter 5 Read American Pageant pgs. 55-56, 68-74, 93-96, 127- 129-These are the sections concerning economics (mercantilism, triangular trade, salutary neglect)