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Economics Frameworks for the Georgia Standards of Excellence in Social Studies Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE 5.31.2017 Page 1 of 35 The following instructional plan is part of a GaDOE collection of Unit Frameworks, Performance Tasks, examples of Student Work, and Teacher Commentary for the Economics Social Studies Course. Economics - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic concepts. Incorporating the theme of Incentives, students will analyze how various trade policies, barriers, and agreements cause individuals, firms, and nations to respond in predictable ways. Applying the theme of Interdependency, students will discuss how decisions made by one trading partner causes intended and unintended consequences for others and how international exchange rates effect the balance of trade between nations. Using the themes of Gains from Trade and Scarcity, the students apply the law of comparative advantage to their nation’s production and specialization decisions. They will also evaluate the costs and benefits of their trading relationships, and explain why and how various productive resources must often be redirected to other industries when new trading relationships develop. Connection to Connecting Theme/Enduing Understandings Scarcity Exchange Rates Limited Resources Gains from Trade Comparative and Absolute Advantage Reasons for Trade Incentives Free Trade and Protectionist Policies Exchange Rates Interdependency Balance of Payments and Balance of Trade Trade Barriers Trading Blocs Exchange Rates Comparative Advantage GSE for Social Studies (standards and elements) SSEIN1 Explain why individuals, businesses, and governments trade goods and services. a. Define and distinguish between absolute advantage and comparative advantage. b. Explain that most trade takes place because of comparative advantage in the production of a good or service. c. Define balance of trade, trade surplus, and trade deficit. SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade . a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies. b. Identify costs and benefits of trade barriers to consumers and producers over time. c. Describe the purpose of trading blocs such as the EU, NAFTA, and ASEAN. d. Evaluate arguments for and against free trade. SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries. a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency. b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency. c. Explain why some groups benefit and others lose when exchange rates change.

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Page 1: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 1 of 35

The following instructional plan is part of a GaDOE collection of Unit Frameworks, Performance Tasks,

examples of Student Work, and Teacher Commentary for the Economics Social Studies Course.

Economics - Unit 5 - International

Elaborated Unit Focus

In this unit, students will demonstrate their knowledge of international economic concepts. Incorporating the theme of Incentives, students will analyze how various trade policies, barriers, and agreements cause individuals, firms, and nations to respond in predictable ways. Applying the theme of Interdependency, students will discuss how decisions made by one trading partner causes intended and unintended consequences for others and how international exchange rates effect the balance of trade between nations. Using the themes of Gains from Trade and Scarcity, the students apply the law of comparative advantage to their nation’s production and specialization decisions. They will also evaluate the costs and benefits of their trading relationships, and explain why and how various productive resources must often be redirected to other industries when new trading relationships develop.

Connection to Connecting Theme/Enduing Understandings

Scarcity

• Exchange Rates

• Limited Resources Gains from Trade

• Comparative and Absolute Advantage

• Reasons for Trade Incentives

• Free Trade and Protectionist Policies

• Exchange Rates Interdependency

• Balance of Payments and Balance of Trade

• Trade Barriers

• Trading Blocs

• Exchange Rates

• Comparative Advantage

GSE for Social Studies

(standards and elements)

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

c. Define balance of trade, trade surplus, and trade deficit.

SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade.

a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.

b. Identify costs and benefits of trade barriers to consumers and producers over time.

c. Describe the purpose of trading blocs such as the EU, NAFTA, and ASEAN.

d. Evaluate arguments for and against free trade.

SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries.

a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency.

b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.

c. Explain why some groups benefit and others lose when exchange rates change.

Page 2: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 2 of 35

Connection to Literacy Standards for Social Studies

L9-10 RHSS7, RHSS9 WHST1, WHST 7, WHST8, WHST9

L11-12 RHSS7, RHSS9 WHST1, WHST7, WHST8, WHST9

Connection to Social Studies Matrices (information processing and/or map and globe skills)

Information Processing 1, 3, 5, 9, 11, 14, 15, 16, 17

Map and Globe 6, 8, 11

Page 3: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 3 of 35

Essential Questions and Related Supporting/Guiding Questions

Enduring Understanding 1

Why do countries enter trade agreements?

• What are the costs and benefits of these agreements?

• Why do specialization and trade lead to more efficiency, production, and consumption when countries exploit their comparative advantage?

• Why do countries erect trade barriers that inhibit imports and exports?

Enduring Understanding 2

How does an appreciating and depreciating dollar effect different groups?

• How does an appreciating and depreciating dollar effect Gross Domestic Product, GDP?

• How does this change in GDP and Consumption in turn effect exchange rates?

• How are domestic consumers and domestic producers affected by the appreciating and depreciating dollar?

Enduring Understanding 3

How has increased globalization affected consumer choice?

• What might happen to consumer choice if the United States completely stopped trading goods and services with other nations?

• Why does the Middle East produce oil and nations located in the tropics produce coffee?

• Why do countries choose to produce one good over another?

Page 4: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 4 of 35

Sample Instructional Activities/Assessments Should the Doctor Hire the Secretary?

Have students work in pairs to answer the questions that follows the scenario. Discuss their answers and follow up with an explanation of

the difference between Absolute Advantage and Comparative Advantage.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Gains From Trade

Should the Doctor Hire the Secretary?

Scenario:

Dr. Jane has graduated from medical school and will be starting her practice as a Pediatrician soon. While in

medical school, Dr. Jane worked as a secretary in the administrative offices. During that time, Dr. Jane was praised

for her hard work and her efficiency. In fact, she became the best secretary on her floor. Sam, a friend of Dr.

Jane’s, referred Secretary Bob to her because Sam knew Dr. Jane would be opening her office soon. Now

Secretary Bob had been a secretary for years and was better than your average secretary, but he was not quite as

efficient as Dr. Jane (see the statistics below).

Typing Electronic/Physical Filing Returned Phone Calls

Dr. Jane 90 Words Per

Minute 40 files every

5 minutes 25 every hours

Secretary Bob 70 Words Per

Minute 30 files every

5 minutes 20 every hour

Average Secretary 65 Words Per

Minute 30 files every

5 minutes 15 very hour

Should Dr. Jane hire Secretary Bob or perform all the secretarial services herself? Justify your answer and

prepare to share with the class.

Page 5: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 5 of 35

International Trade: Making Sense of the Trade Deficit

Students will read and annotate the article “International Trade: Making Sense of the Trade Deficit” followed by answering the accompanying guided

reading questions.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

c. Define balance of trade, trade surplus, and trade deficit.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Gains From Trade

Interdependency

Students will read and annotate the article “International Trade: Making Sense of the Trade Deficit” followed by answering the

accompanying guided reading questions.

Resource Links:

• Page One “International Trade: Making Sense of the Trade Deficit” article and guided questions

https://files.stlouisfed.org/files/htdocs/publications/page1-econ/2016/11/01/international-trade_SE.pdf

Scott A. Wolla, "International Trade," Page One Economics, November 2016

• Harvard Library: PDF of “Interrogating Texts”

o http://guides.library.harvard.edu/ld.php?content_id=12548868

Page 6: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 6 of 35

Task 1

Writing to Learn Strategy

GIST- Generating Interactions between Schemata and Texts

• GIST (Cunningham 1982) is a strategy designed to help students learn to write organized and concise summaries.

Summaries restate only the author’s main ideas, omitting all examples and evidence used in supporting and

illustrating points. For students who are at a loss as how to put a reading into their own words, GIST can be used as a

step by step method.

• The teacher should begin with modeling the technique by coaching the class through a paragraph. After modeling

assign a reading for students to do independently.

1) Read the first sentence and summarize its contents in

fifteen words or less.

2) Read the second sentence and summarize the two

sentences in fifteen words or less.

3) Read the third sentence and summarize the three

sentences in fifteen words or less.

4) Continue until the paragraph is read.

5) Then summarize the entire paragraph in fifteen words

or less.

Task 2

How to annotate:

While reading, students mark the pages for important information, text meaning or key details, ideas and questions.

Avoid using a highlighter! Use a pencil or pen to notate.

Suggested annotation strategies:

o In the margins, summarize in your own words key concepts.

o Bracket [important] passages.

o Connect related ideas with lines or arrows.

o Underline important ideas/details

o Place asterisks * or exclamation points next to unusual or surprising details!!

o Circle words or information you don’t understand.

o Rank your annotations based on their importance to the passage, 1, 2, 3, 4, 5.

Page 7: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 7 of 35

Coffee and Cars: An Absolute Advantage Students will fill in the resource tables for coffee growing and automobile production using the websites and/or prior knowledge. Students will come to understand the efficiencies related to the production of each good leads to an Absolute Advantage for each nation.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16 Map and Globe 6, 8, 11

Gains From Trade

Interdependency

Coffee and Cars: An Absolute Advantage

The United States produces more cars (about 3 million per year) than the country of Colombia (over 100,000 per

year), but Colombia produces more coffee (about 700,000 tons per year) than the United States (about 3,000 tons

per year). Why might this be?

1. Use the following website to complete the resource table related to Coffee Growing:

http://www.coffeeresearch.org/agriculture/coffeeplant.htm

Coffee Growing

Land/Climate/Soil

Labor

Physical Capital:

Machinery & Tools

Human Capital:

Education & Training

Page 8: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 8 of 35

Map of the Bean Belt

https://commons.wikimedia.org/wiki/File:Bean_belt_(top_20_coffee_producers_2011).svg

Page 9: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 9 of 35

2. Use the following website to complete the resource table related to Automobile Production: http://www.madehow.com/Volume-1/Automobile.html

Automobile Production

Land/Climate/Soil

Labor

Physical Capital:

Machinery & Tools

Human Capital:

Education & Training

3. Explain the Absolute Advantage that both the Unites States and Columbia possess. How does efficiency

contribute to this?

Page 10: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 10 of 35

Wheat and Sugar: A Comparative Advantage The United States and Mexico both participate in the production of Wheat and Sugar (feel free to show data showing as such). Using the data provided, students will determine who has an Absolute Advantage and who has the Comparative Advantage in the production of Wheat and Sugar. From these outcomes students, should be able to explain how this results in specialization and exporting of one good and the importing of the other.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

c. Define balance of trade, trade surplus, and trade deficit.

SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade.

a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.

b. Identify costs and benefits of trade barriers to consumers and producers over time.

c. Describe the purpose of trading blocs such as the EU, NAFTA, and ASEAN.

d. Evaluate arguments for and against free trade.

SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries.

a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency.

b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.

c. Explain why some groups benefit and others lose when exchange rates change.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Scarcity

Gains From Trade

Incentives

Interdependence

Page 11: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 11 of 35

Wheat and Sugar: A Comparative Advantage

The United States and Mexico both participate in the production of Wheat and Sugar. Should one country produce

Wheat and one country produce Sugar?

Production in Millions of Metric Tons

Mexico United States

Wheat

(thousands

of bushels)

5 50

Sugar

(tons) 5 10

• Mexico can use their available resources to produce 5 million tons of Wheat OR 5 million tons of Sugar…

5 Wheat = 5 Sugar OR _______ Wheat = 1 Sugar

• The United States can use their available resources produce 50 million tons of Wheat OR 10 million tons

of Sugar…

50 Wheat = 10 Sugar OR _______Wheat = 1 Sugar

Absolute Advantage

1. Who has the Absolute Advantage in Wheat production? ________________

2. Who has the Absolute Advantage in Sugar production? _________________

Comparative Advantage

1. What is the opportunity cost for the United States of producing Wheat in terms of producing Sugar?

______________________________________________________________________________

2. What is the opportunity cost for the United States of producing Sugar in terms of producing Wheat?

______________________________________________________________________________

3. What is the opportunity cost for the Mexico of producing Wheat in terms of producing Sugar?

______________________________________________________________________________

4. What is the opportunity cost for the Mexico of producing Sugar in terms of producing Wheat?

______________________________________________________________________________

5. Who has the Comparative Advantage in Wheat production? ______________________

6. Who has the Comparative Advantage in Sugar production? _______________________

From your results…

• The United States should specialize in the production of _______________________ and

therefore, import ___________________ from Mexico.

• Mexico should specialize in the production of ________________________ and therefore,

import ____________________ from the United States.

Page 12: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 12 of 35

Part 2

Listen to the following Podcast and watch the following Video:

Lollipop Wars- Podcast

http://www.npr.org/sections/money/2013/04/26/179295426/episode-454-the-lollipop-war

Why Is There Corn in Your Coke?

http://www.learnliberty.org/videos/why-is-there-corn-in-your-coke/

1. What method does the US government use to protect domestic sugar producers?

2. What are the main economic arguments for continued protection of the US sugar industry?

3. What are the main arguments for the removal of protection of US sugar producers?

4. Which groups are benefiting from the protectionism and which groups are hurt by the protectionism?

5. What are the intended and unintended consequences of these trade barriers?

Page 13: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 13 of 35

Trade Barriers and Pencil Production Part 1- Students will keep track of the resources used to produce a pencil and the countries responsible for providing the pencil’s resources. A map of the world will be projected on the Active Board. As students find resources and countries, they will write down the information on the sticky notes provided, find the country and post on the board. Review the concepts of the invisible hand and self-interest, market forces, as well as the gains from voluntary trade. Link to a printed copy of the story of “I, Pencil” provided as well for students to reference after watching the video (Story was written in the 50’s, so some of the countries no longer exist or have changed names).

Part-2 Students will research and explain the five Trade Barriers listed. After completing, students will reflect upon and answer the following question: “How might these trade barriers affect the world’s production of pencils?” Address each of the trade barriers specifically.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade.

a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.

b. Identify costs and benefits of trade barriers to consumers and producers over time.

d. Evaluate arguments for and against free trade.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16 Map and Globe 6, 8, 11

Scarcity

Gains From Trade

Incentives

Interdependence

Trade Barriers and Pencil Production

Part 1 While watching the Ted-Ed video “I, Pencil,” keep track of the resources and countries throughout the world

needed to produce a pencil.

Video Link to Ed TED:

http://ed.ted.com/on/8S6Mp7EP

Print Version of “I, Pencil”

http://www.econlib.org/library/Essays/rdPncl1.html

Page 14: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 14 of 35

Enter your information below.

Pencil Resources Countries of Origin

Graphite

Cedar Wood

Ferule-Metal

Eraser-Rubber

Other Resources

• After completing the table above, write the resource and country name on the sticky notes provided

and place on the projected map.

Blank Map of the World https://commons.wikimedia.org/wiki/File:The_World_map.png

Page 15: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 15 of 35

Page 16: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 16 of 35

Part 2 Research and explain the Trade Barriers listed:

Tariffs

Quotas

Standards

Subsidies

Embargoes

How might these trade barriers affect the world’s production of pencils?

Tariffs

Quotas

Standards

Subsidies

Embargoes

Page 17: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 17 of 35

Why Are Trade Blocs Created? Part 1- List the countries that are members of the EU, ASEAN, and NAFTA. Find and color them on a map.

Part 2- Students will then use the map of the Top 15 Trade Partners to discuss the influence of NAFTA.

Part 3- Research and describe the costs and benefits associated with free trade agreements. Answer the debrief questions and discuss their answers.

GSE Standards and Elements

SSEIN1 Explain why individuals, businesses, and governments trade goods and services.

a. Define and distinguish between absolute advantage and comparative advantage.

b. Explain that most trade takes place because of comparative advantage in the production of a good or service.

SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade.

a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.

b. Identify costs and benefits of trade barriers to consumers and producers over time.

c. Define balance of trade, trade surplus, and trade deficit.

d. Evaluate arguments for and against free trade.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16 Map and Globe 6, 8, 11

Scarcity

Gains from Trade

Incentives

Interdependence

Page 18: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

5.31.2017 Page 18 of 35

Why Are Trade Blocs Created?

Part 1

Look up and list the countries included in each of the following Trade Blocs:

European Union (EU)

Go to the following website for the list of Countries: http://europa.eu/about-eu/countries/index_en.htm

1. 8. 15. 22.

2. 9. 16. 23.

3. 10. 17. 24.

4. 11. 18. 25.

5. 12. 19. 26.

6. 13. 20. 27.

7. 14. 21. 28.

Association of Southeast Asian Nations (ASEAN):

Go to the following website for the list of Countries: http://www.asean.org/asean/asean-member-states/

1. 6.

2. 7.

3. 8.

4. 9.

5. 10.

North American Free Trade Agreement (NAFTA):

Go to the following website for the list of Countries: http://www.naftanow.org/

1.

2.

3.

• After completing the above tables, find the countries of each Trade Bloc on the map provided. Color

the countries of the EU blue, NAFTA red, and ASEAN green.

Page 19: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

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Blank Map of the World

https://commons.wikimedia.org/wiki/File:The_World_map.png

Page 20: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

Georgia Department of Education THIS WORK IS LICENSED UNDER A CREATIVE C OMMONS ATTRIBUTION - NONCOMMERCIAL - SHAREALIKE 4.0 INTERNATIONAL LICENSE

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Part 2

https://commons.wikimedia.org/wiki/File:US_trade_final-01.svg

• How has NAFTA affected trade for the Unites States?

Page 21: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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Part 3

Research and describe in your own words the costs and benefits of Trade Blocs/Free Trade Agreements. Use the

“Debrief Questions” as a guide.

Costs/Benefits Links:

1. http://www.heritage.org/research/reports/2000/08/the-benefits-of-free-trade-a-guide-for-policymakers

2. https://www.mercatus.org/publication/benefits-free-trade-addressing-key-myths

3. http://www.gpb.org/news/2013/12/08/economists-toast-20-years-of-nafta-critics-sit-out-the-party

4. http://www.globalexchange.org/resources/FTAA/oppose

Benefits Costs

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Debrief Questions:

1. Explain how geography and culture might influence the creation of Free Trade Agreements.

2. How do Free Trade Agreements affect net exports (exports minus imports) and the GDP of trade bloc

member nations? What about other countries not included in the trade agreement?

3. Explain how trade between Mexico and the United States will result in a trade deficit for one and a trade

surplus for the other.

4. Explain the effect of Free Trade Agreements on domestic producers and consumers.

5. Are there any possible positive or negative externalities associated with these Free Trade Agreements?

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Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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Exchange Rates: Strong Dollar or Weak Dollar? Students will read the article “Is a Strong Dollar Better than a Weak Dollar?” and answer the accompanying guided reading questions.

GSE Standards and Elements

SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries.

a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency.

b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.

c. Explain why some groups benefit and others lose when exchange rates change.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9

L11-12 RHSS7, RHSS9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Incentives

Interdependency

Scarcity

Students will read and annotate the article “International Trade: Making Sense of the Trade Deficit” followed by answering the

guided reading questions below.

Resource Links:

• Page One “Is a Strong Dollar Better than a Weak Dollar?” article and guided questions

https://files.stlouisfed.org/files/htdocs/pageone-economics/uploads/newsletter/2015/PageOne201503.pdf

Scott A. Wolla, "Is a Strong Dollar Better than a Weak Dollar?," Page One Economics, March 2015

• Harvard Library: PDF of “Interrogating Texts”

o http://guides.library.harvard.edu/ld.php?content_id=12548868

How to annotate:

While reading, students mark the pages for important information, text meaning or key details, ideas and questions.

Avoid using a highlighter! Use a pencil or pen to notate.

Suggested annotation strategies:

o In the margins, summarize in your own words key concepts.

o Bracket [important] passages.

o Connect related ideas with lines or arrows.

o Underline important ideas/details

o Place asterisks * or exclamation points next to unusual or surprising details!!

o Circle words or information you don’t understand.

o Rank your annotations based on their importance to the passage, 1, 2, 3, 4, 5.

Guided Reading questions:

1. What does it mean if the U.S. Dollar appreciates?

2. What does it mean if the U.S. Dollar depreciates?

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3. Which benefit and which groups are hurt by an appreciating and depreciating dollar?

Appreciating Dollar

(Stronger)

Depreciating Dollar

(Weaker)

Benefits

Loses/Hurt

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Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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Exchange Rates: Conversions and Analysis Students will follow the link to historical/current exchange rate for the Unites States and determine which economic actors benefit and which will lose from the exchange rate changes over time.

GSE Standards and Elements

SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries.

a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency.

b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.

c. Explain why some groups benefit and others lose when exchange rates change.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Gains from Trade

Incentives

Interdependency

Scarcity

Exchange Rates: Conversions and Analysis

Part 1

Use the link to determine the exchange rate for one U.S. Dollar for various time periods.

Exchange Rates Historical-Unites States Treasury

https://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/historicalRates.htm

Date Exchange Rate

Most Current Release

1 U.S. Dollar Equals ____________ Mexican Pesos

March 31, 2005

1 U.S. Dollar Equals ____________ Mexican Pesos

March 31, 2001

1 U.S. Dollar Equals ____________ Mexican Pesos

• Between 2001 and 2005, which currency appreciated and which currency depreciated? 2005 to the

most current release?

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Part 2

1. Using the data from Part 1 of the activity, which year would the exchange rate benefit the following

groups the most? Justify your answer.

Economic Actors

Year in Which the

Economic Actor

Would Benefit the

Most

Justification

Mexican Tourist Visiting the

United States

United States Consumers of

Mexican Made Goods

United States Producers of

Goods Exported to Mexico

United States Producers Buying

Imported Resources for

Production

Mexican Producers of Goods

Exported to the United States

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Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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6-Free Trade & Protectionism Political Cartoon Students will work in pairs to answer the guided questions related to the political cartoon.

GSE Standards and Elements

SSEIN2 Explain why countries sometimes erect trade barriers and sometimes advocate free trade.

a. Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.

b. Identify costs and benefits of trade barriers to consumers and producers over time.

d. Evaluate arguments for and against free trade.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

Information Processing 1, 3, 5, 9, 11, 14, 15, 16, 17

Gains from Trade

Incentives

Interdependency

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Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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Free Trade & Protectionism Political Cartoon

https://commons.wikimedia.org/wiki/File:Free_Trade_and_Protection.jpg

1. Quickly scan the cartoon. What do you notice first? What is the title or caption?

2. Are there labels, descriptions, thoughts, or dialogue?

3. List the people, objects, and places in the cartoon.

4. List the actions or activities.

5. Compare and contrast the two pictures. Look at the prices for Eggs, Jam, Cheese and Sugar. Define “Free

Trade” and “Protectionism.”

6. What is the message? List evidence from the cartoon that led you to your conclusion.

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World Headlines Students will look up current international economic headlines from a reputable news source that would affect United States Net Exports (Exports minus Imports) and Exchange Rates. Students present their headlines and results to the class for a thumbs up or thumbs down.

GSE Standards and Elements

SSEIN3 Explain how changes in exchange rates can have an impact on the purchasing power of groups in the United States and in other countries.

a. Define exchange rate as the price of one nation’s currency in terms of another nation’s currency.

b. Interpret changes in exchange rates, in regards to appreciation and depreciation of currency.

c. Explain why some groups benefit and others lose when exchange rates change.

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Gains from Trade

Incentives

Interdependency

Page 30: Economics - Unit 5 - International - Georgia Standards - Unit 5 - International Elaborated Unit Focus In this unit, students will demonstrate their knowledge of international economic

Economics Frameworks for the Georgia Standards of Excellence in Social Studies

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•Increase?

•Decrease?Imports

•Increase?

•Decrease?Exports

•Increase?

•Decrease?

Net Exports

•Appreciate?

•Depreciate?U.S.

Dollar

Headline

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Culminating Unit Performance Task Argumentative Essay: Free Trade or Protectionism

Utilizing sources and work completed in previous activities, students will write an argumentative essay in favor of Free Trade or in favor of Protectionist Policies.

GSE Standards and Elements

SSEIN1, SSEIN2

Literacy Standards

Social Studies Matrices

Enduring Understanding(s)

L9-10 RHSS7, RHSS9 WHST1, WHST 7, WHST8, WHST9

L11-12 RHSS7, RHSS9 WHST1, WHST7, WHST8, WHST9

Information Processing 1, 3, 5, 9, 11, 14, 15, 16

Gains from Trade

Incentives

Interdependency

Scarcity

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Writing Task:

Write an argumentative essay in favor of free trade or protectionism. Utilize the activities and resources in this

unit for your research.

General guidelines for essay writing:

1. Develop a limited topic which is well defined and debatable and that has more than one side.

2. The writer must understand other sides of the position so that the strongest information to counter the

other side can be presented.

3. Develop the statement of position. The topic sentence cannot be a fact as facts cannot be debated. The

statement should direct readers to follow the writer’s logic towards a specifically stated conclusion.

4. In preplanning the essay, generate and then use at least three reasons that support the position.

Introduce these in the same introductory paragraph.

5. Reasons introduced in the opening introductory paragraph should be the topics of paragraphs in the

body of the paper. They should be supported with additional separate facts.

6. The body of the essay uses specific evidence, examples and statistics rather than generalizations or

personal opinions. Each topic sentence has been introduced in the introduction. Additional sentences

closely relate to the topic and the sentence before it.

7. Use adequate transitions between paragraphs so that the reader follows the writer’s logic.

8. Clearly redefine the topic and restate the most compelling evidence, remembering that this is the last

chance to be convincing. Do not introduce new material in the conclusion.

A good argumentative essay…

1. Explains the controversy or problem clearly.

2. Presents and explains both sides of the debate.

3. Expresses your side of the debate.

4. Convinces the reader you are right!

5. Negates any arguments from the other side.

6. Properly cites all research.

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The following are some suggested graphic organizers to plan your arguments:

Arguments for… Arguments against…

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

Source:

Quote:

Summary:

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Persuasive Writing Graphic Organizer

Thesis Statement

Reason 1

Fact One

Fact Two

Reason 2

Fact One

Fact Two

Reason 3

Fact One

Fact Two

Counterargument

With

Rebuttal

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Essay Does Not Meet (1) Meets (2) Exceeds (3)

Content

Are main idea and supporting details clear?

▪ Controlling idea is focused and fully developed ▪ Logical supporting ideas are appropriate ▪ Supporting ideas include examples and details ▪ Writing contains complete information ▪ Writing addresses arguments and counterarguments

Organization

Is the paragraph or essay well-organized?

▪ Essay remains focused throughout ▪ Ideas are appropriate and logical ▪ Related ideas are grouped together in paragraphs ▪ Writing is organized so that ideas are easily understood ▪ Transitions link ideas and parts of the paper

Style

Is the paragraph or essay clear and convincing?

▪ Writing uses appropriate, precise, and engaging language ▪ Writer uses a variety of strategies to reach the reader (questions, emotional appeals,

relevant examples, etc.) ▪ Writer’s voice is constant throughout (sounds like one writer) ▪ Sentence lengths and styles are varied (not too choppy or too wordy)

Conventions

Is the paragraph or essay written with standard English grammar and usage?

▪ Sentences are correctly formed; end punctuation is correct ▪ Grammar/usage is standard (subject/verb agreement, verb forms, word endings, etc.) ▪ Correct punctuation, spelling, capitalization, and paragraph indention are evident ▪ Work is cited when necessary

Total number of points = ___________ Total score = ___________

(Grade conversion: 4 = 60 5 = 65 6 = 70 7 = 80 8 = 85 9 = 90 10 = 92 11 = 95 12 = 100)