Unit 7 – Trade

Day 1 – International Trade Vocabulary

  • Essential Question, Conceptual Lenses
  • International Trade

Day 2 – Globalization Issues

  • Free Trade v Protectionism
  • Underdeveloped, Developing, and Developed Countries

Day 3 – The United Nations

  • Purpose
  • Human Rights
  • Is Wal-Mart Good for America

Day 4 – Test Review & Test

  • Notebook Check
  • Review Game
  • Test – Unit 7

Day 5 – Documentary - IOUSA

UNIT 7 – TRADE
Day 1 – International Trade – Basic Terms

Unit Essential Question

  • Why has interdependence led to globalization?

Conceptual Lenses

  • Interdependence
  • Globalization
International Trade Vocabulary

ESSENTIAL QUESTION

Why do countries promote trade?

Chapter 26, Section 1 (pgs. 707-713)

Answer the Following

  • What is an export?
  • What is an import?
  • What are the advantages of international trade?
  • How do some countries try to protect domestic industries?

Tariffs

Quotas

  • What have countries enter into to reduce barriers to trade?

Free Trade Zones

NAFTA

EU

FTAA

WTO

  • What are some issues critics have with the WTO?
  • How can international trade be used as a political weapon?

Embargos

Trade Agreements

  • Explain the following…

Balance of Trade (Trade Surplus, Trade Deficit)

Negative affects of a trade deficit

What does international trade increase?

Day 2 – Globalization Issues

ESSENTIAL QUESTION

How has globalization affected international trade?

Chapter 27, Section 1 (pgs. 735-738)

  • What concerns has international trade created?

Environmental

Worker Exploitation

Internationalism

Chapter 27, Section 2 (pgs. 740-742)

  • What is the United Nations (UN)?
  • What has the United Nations done to address the following…

The Environment

Income Inequality

Chapter 27, Section 3 (pgs. 744-747)

  • What is The Universal Declaration of Human Rights?
  • What are International Tribunals?

Unit 7 – Trade Test Review

Multiple Choice – 20 Questions – 3 Points Each – 60 Points Total

  • Arguments Against Free trade
  • Balance of Trade, Deficit (Imports v Exports)
  • Comparative Advantage
  • Global Interdependence
  • Low Labor Costs - Outsourcing
  • Market Economy (per capita GDP)
  • Protectionism (Quota, Sanctions, Tariff)
  • Scarcity – International Trade
  • Trade Agreements (WTO, NAFTA) Against Barriers to Trade
  • UN – Purpose (Human Rights – Democracy)

Constructed Responses – 1 Questions – 40 Points Total

1)The United States has a large trade deficit.

  • Explain how to determine a nation’s balance of trade.
  • Explain what it means to have a trade deficit.
  • Identify and Explain (2) factors that lead to this trade deficit.

International Trade Quiz

1)A good bought from another country for domestic use.

2)A good sold to another country.

3)Free trade agreement between the US, Canada, and Mexico.

4)An international organization that settles trade disputes, organizes negotiations, and provides help to developing countries.

5)A tax on an imported product.

6)The difference between a countries imports and exports.

7)A limit on the number of products that can be sold in a country.

8)When a country does not trade at all with another country.

9)Provide one argument for free trade.

10)Provide one argument against free trade.

IOUSA ASSIGNMENT

The US has an 18 trillion dollar debt (18,000,000,000,000+). The documentary identifies (4) basic reasons this debt has accumulated. For each of the (4), explain in a paragraph. You must explain each problem, and how each has contributed to the debt.

(4) Issues

1) Fiscal Policy

2) Monetary Policy

3) International Trade

4) Government Leadership