1. GLOBALIZATION

2. Standard 12.2: Students analyze the elements of America’s market economy in a global setting Standard 12.6: Students analyze issues of international trade and explain how the U.S. economy affects, and is affected by, economic forces beyond the U.S. borders.
SWBAT: Define globalization and identify it’s
pros & cons, myths & realities

3. Globalization
The process of making something, such as a business, international or the result of this.
What is the result of this? Discuss the pros & cons with your partner.

4. 10 Myths of Globalization
Myth: Something people widely believe to be true but is actually false.
Skim your myth
With your partner/group you will:
Read your myth aloud
Give one example from the reading of why the myth is untrue (have your example written down)

5. MYTH #1
Increased Trade Equals More Jobs For Americans at Higher Wages.
Why this is false:

6. MYTH #2
Governments Protect the Environment More as Global Trade Creates Economic Growth.
Why this is false:

7. MYTH #3 Foreign Investment Automatically Raises Living Standards.
Why this is false:

8. MYTH #4
Free Trade Benefits Consumers.
Why this is false:

9. MYTH #5
Globalization “Lifts All Boats”
Why this is false:

10. MYTH #6
What Benefits Corporations Benefits Us All.
Why this is false:

11. MYTH #7
Sweatshops Are Not Necessarily a Bad Thing; That’s How the United States Developed, After All.
Why this is false:

12. MYTH #8
Immigrants Are a Drain on the U.S. Economy.
Why this is false:

13. MYTH #9
Globalization Will Spread Freedom and Democracy by Increasing Trade Between Nations.
Why this is false:

14. MYTH #10
U.S. Workers Don’t Need to Worry About Globalization Because We’re So Much More Productive.
Why this is false:

15. Wrap-up Why do countries trade? What do countries trade?
What are the terms of trade?
What are some of the costs and benefits of international trade?