1. agenda Anything New? Return Quizzes Current Reading…NAFTA, Pros and Cons Review Homework “The Last Word” Chapter 37 Questions 12 & 15 Problems 1, 2 & 4 Intro to Ch. 38 Homework Read Naked Economics Ch. 12 Trade and Globalization: The Good News About Asian Sweatshops Ch. 38, Questions 2, 7 (draw the graph)

2. Anything New?

3. Return Quizzes

4. Current Reading NAFTA, Pros and Cons

5. Review Homework Chapter 37 “The Last Word” Chapter 37 –Questions 12 & 15 –THREE MINUTE BREAK AFTER QUESTIONS –Problems 1, 2 & 4

6. three minute break

7. Review Homework Chapter 37 “The Last Word” Chapter 37 –Questions 12 & 15 –THREE MINUTE BREAK AFTER QUESTIONS –Problems 1, 2 & 4

8. Intro to Ch. 38 Balance of Payments –Pg. 781 –Know how to calculate various components –Table 38.1 Current Account approximately “Trade Deficit” Balance on Goods and Services is trade deficit Line 7 in Table 38.1

9. Intro to Ch. 38

10. Foreign Exchange Figure 38.1 Just like Chapter 3 Supply and Demand Curve An appreciation of one currency is a depreciation of the other Denominator is the currency that your looking at

11. Homework Read Naked Economics Ch. 12 Trade and Globalization: The Good News About Asian Sweatshops Ch. 38, Questions 2, 7 (draw the graph)