Economies in Transition Europe

1. Economiesin TransitionEurope Mike Raymer Program Manager GCEE

2. The Mission To help teachers teach those students, K-12, in the public and independent schools of Georgia

3. Productive Workers Informed Consumers Involved Citizens Prudent Savers Wise Investors Sound lifelong decision makers in a globally interdependent world The Vision Students leaving school prepared for their roles as:

4. Workshop Objectives • Participants will… • increase their awareness and understanding of contemporary Europe (political and economic) • review instructional materials for use in social studies classrooms Georgia Council on Economic Education

5. Challenge 2003 New Superintendent takes office and hires Dr. Diane Ravitch to revise the curriculum 2004 New state curriculum adopted with detailed attention given to United States history at grades K-12 [with exception of world history]. Economics becomes only constant in the curriculum to address the reality of global issues.

6. Elementary K – Symbols of America 1 – American Heroes 2 – Georgia, My State 3 – Our Democratic Heritage 4 – US History to 1860 5 – US History Since 1860 Scope and Sequence

7. Middle 6 – Modern World Studies 7 – Modern World Studies 8 – Georgia Studies Scope and Sequence • High (Grades 9-12) • United States History • American Government • Principles of Economics • World History

8. Georgia Council on Economic Education w w w . g c e e . o r g

9. State of the Art Georgia Council on Economic Education w w w . g c e e . o r g

10. Organizing Your Study of a Region

11. Focus on teaching the standards, not the textbook. Nationwide, only about 70%of the context in any given textbook correlates to a given states standards document. The 2004 adoption of textbooks for Georgia schools PRECEEDED the adoption of the GPS and has only about a 20%content match to the new standards.

13. Europe • in the Georgia Performance Standards

14. Grade 6 – World Studies Latin America & Canada Canada, Brazil, Cuba, [Mexico] Europe Germany, United Kingdom, Russia [Italy] Australia Scope and Sequence Georgia Council on Economic Education w w w . g c e e . o r g

15. European Countries in the GPS

16. Organizing Your Study of a Region • Why study this place? • give a rationale • Where is this place? • describe the geopolitical features • What is the recent history of this place? • Only enough that the present makes sense • What is the economy of this place like today? • What is the government of this place like today? • understanding of economic and political issues

17. Why Study Europe? Cultural Roots Common Goals with the European Union Economic Power Handout

18. Where is Europe?

19. What is the Recent History of Europe?

20. Which economic concepts are on the CRCT? Georgia Council on Economic Education w w w . g c e e . o r g

21. Curricular Context Grades 6 – 7 economic concepts • economic systems[traditional, command, market] • trade[voluntary & non-fraudulent] • economic growth[GDP]

22. Content Weight for the GPS CRCT

23. Economics is… Our enduring understanding… making decisions about allocating limited resources to get the unlimited number of things we want.

24. Economic Survival: Resources, Production, and Scarcity • Scarcity • Opportunity Costs • Productive Resources • Natural/Land • Human/Labor • Capital Goods/Tools • Entrepreneurship

25. Economic Systems: How a Country Organizes Its Economy • Economic Systems • Traditional • Command • Market (what, how, for whom?) • Resource Allocation

26. Economic Systems People create rules for trade that fall along a continuum between command and market.

27. Economic Freedom Demonstration Lesson

28. (Australia) (USA) (Hong Kong) Belgium Germany U.K. Spain France Poland Italy Russia Ukraine

29. Working and Living Together: The Importance of Trade • Specialization • Interdependence • Imports/Exports • Trade barriers • Tariffs • Quotas • Embargo

30. Trade Both parties gain when people engage in voluntary, non-fraudulent trade.

31. Trade Demonstration Lesson

32. Exchange Rates Demonstration Lesson -The price of one country's currency expressed in another country's currency. -Rate at which one currency may be converted into another.

33. Gross Domestic Product: Measuring a Country’s Income • Gross Domestic Product (GDP) • Standard of Living

34. Gross Domestic Product Gross= total Domestic= produced anywhere in the 50 states, by anyone Product= final goods and services

35. What does GDP measure? Total amount of final goods and services produced in a country in one year. (Measure of Output)

36. Are there any cool formulas you can give us relating to this interesting concept? GDP=C+I+G+(X-M)

37. C= consumption spending (think consumers) 72% I= investment spending (think businesses investing in themselves) 15% G= government spending 17% (X-M)= difference between exports and imports -4%

38. What is counted in GDP? FINAL goods and services Goods/Services produced here, even if by a foreign co.

39. What is NOT counted? Things produced outside the country. Illegal stuff Purely financial transactions

40. …and INTERMEDIATE GOODS

41. Problems associated with GDP Slow to calculate Does not count everything (it’s an estimate) Inflation can distort the figure Real vs. Nominal

43. GDP United States is #1 at $14.6 trillion China is #2 at $5.8 trillion Japan is #3 at $5.4 trillion Germany is #4 at $3.3 trillion The EU collectively is $16.1 trillion

44. Per Capita GDP GDP divided by a country’s population

45. Human Poverty

46. Undernourishment

47. Underweight Children

48. Poor Sanitation

49. Secondary Education Spending

50. Public Health Spending