1. GLOBALIZATION

2. Educators are challenged with introducing, explaining, teaching, and selecting meaningful instructional lessons and activities to help students understand the many facets of ‘globalization’.

3. Globalization On your card, write a couple of words or a short phrase that you associate with ‘globalization’

4. Globalization… refers to increases in the degree of integration between national economies. Integration encompasses all the ways national economies are connected in international markets, including trade in goods, services, and ideas; international movements of the factors of production’ and coordination of public policies. Focus: Globalization NCEE

5. Globalization = Controversy Lesson One Why is globalization so controversial?

6. In 1999… meetings of the World Trade Organization (WTO) in Seattle drew more than 50,000 protesters who argued that free trade policies promote inequality and greater poverty in developing nations lead to loss of local culture benefit large and rich nations and corporations result in environmental damage Focus: Globalization NCEE

7. Supporters of free trade and globalization argue that removing trade barriers allows production and capital to be allocated more efficiently free trade increases production and competition, lowers prices and gives consumers greater choices in products raises income levels and the standard of living in all countries that are open to trade

8. When people, firms, or countries trade, they expect to be better off.

9. An important trade concept is… Voluntary exchange occurs only when all participating parties expect to gain.

10. http://www.infobarrel.com/Foreign_Exchange_Online_Trading GLOBALIZATION Lesson 5 U.S. and World Trade: Past and Present

11. Leading U.S. trading partners… Students will conduct a survey to determine the top countries with which the United States trades and what the top U.S. exports and imports are…

12. Top five nations trading with U.S. 1.Canada 2.Mexico 3.China 4.Japan 5.Germany

13. Why? Canada and Mexico are neighbors making geographic proximity lower the costs…. U.S., Canada and Mexico signed NAFTA All five countries have trade agreements with the U.S. that minimize trade barriers All five countries are members of the World Trade Organization

14. An important concept related to trade is… Comparative Advantage Trade between people, firms, and nations occurs because of comparative advantage…. they can produce a product at a lower opportunity cost than other individuals and nations.

15. For example, Unskilled labor in China and Mexico makes the cost of production less costly.

16. Another important concept is… Specialization When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.

17. It is important students understand… Comparative advantage and trading patterns can change because of changes in 1.technology 2.labor productivity 3.income, 4.consumer taste 5.political factors affecting each nation

18. and… events that occur in each nation. For Example: Political unrest in Egypt and Libya Earthquake in Japan followed by tsunami and threat from nuclear plant

19. Lesson 5 Activities Student survey Distribute three copies of Activity 1 to each student one to two days before teaching this lesson. Students will use Visual 1 and 2 to complete Activity 1, 2, and 3.