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Wealth GDP Analysis: World Geographic Economic Differences
Keith WhitePeoria Unified School District #11 • American Economics • AZ/US Government • Sociology • Social Studies Dept. Chair/Instructional Leader • Raymond S. Kellis High School • Teacher Consultant (TC) Arizona Geographic Alliance
GDP Connection to Social Studies • Economics (Indicators) • Geography (Relationship & Location) • Sociology (Culture & Social Problems) • AZ/US History (Trends in growth) • AZ/US Government (Public Policy)
Grade Level • 9-12 (High School) • Basic GDP can also be applied in lower elementary levels, ELL, and Special Education
Time Frame • Designed for 90-minutes on block schedule • Homework research assessment • Extensive opportunities to apply extensions based on subject and grade level • Modifications for 30-minutes to 120-minutes and Honors or AP classes
National Geography Standards • Element Four: Human Systems • 11-The Patterns and Networks of Economic Interdependence on Earth's Surface
AZ State Geography Standards • PROFICIENCY • 3SS-p2 Analyze natural and human characteristics of places in the world studied to define regions, their relationships, and their pattern of change, with emphasis on: • PO1-the interrelationships among natural and human processes that shape the geographic characteristics of regions, including connections among economic development, urbanization, population growth, and environmental change. • PO4-how the character and meaning of a place is related to its economic, social, and cultural characteristics and why different groups in society view places and region differently.
AZ Economic Standards • Concept 2 Microeconomics PO1 Interdependence of households • Concept 3 Macroeconomics PO1 Gross Domestic Product
Other Standards • Math (Calculations and comparisons) • Language Arts (Research and writing)
Overview of GDP • Continues Macroeconomics Unit (Concept 3) • Continue Economic Indicators Chapter (PO1) • Uses comparative analysis and location • Provides brief understanding of GDP • Student connection and importance as consumers and citizens
Materials • World Atlas (each student or pairs) • Simple calculator (each student or pairs) • GDP power point • GDP tables • Blank World map (each student) • Internet (optional)
Objectives • The student will be able to describe economic indicators and why they are used and then describe GDP, its calculation and how population is used to determine per capita GDP. • Next, complete a comparative analysis categorizing high and low per capita GDP and identifying and labeling on a world map. • Finally, make a written recommendation on a poor GDP county that has been researched by the student for geographic and additional economic data. • Extensions (optional): The student will identify key economics resources in Arizona that would contribute to the US GDP totals and add to the Arizona Standard of Living.
Procedures • Follow power point or copy for overhead transparencies overview of GDP • Calculate per capital GDP • Draw comparisons in relation to poverty, standard of living, and trade • World Map location • Research Assessment (Homework) • Extensions
Key Economic Terms • Economic Indicators • GDP • GNP • Nominal • Real • CPI • Inflation • Per Capita • Goods/Services • Import/Export • Trade Surplus/Trade Deficit (net) • World Bank • Relative Poverty • Factors of Production
Guided Practice • Use World GDP Tables • Calculate per capita (nominal GDP / population) • Locate, identify, label and shade on world map top 10 per capita GDP countries • Locate, identify, label and shade on world map bottom 10 per capita GDP countries • Locate, identify, label and shade on world map 5 additional per capital GDP countries that the student selects. (Native country or countries of interest.)
Who Cares About GDP? • Comparative understanding of resources, trade, and standard of living. • Poverty and it’s relativity. • Life affected by conveniences, comforts, good food, nice things! • Geographic awareness of other countries in comparison to the USA. • Connections from economics to geography. • What does Arizona do to contribute to the GDP? (Optional extension)
Assessment • Student Selects developing country to research • Determines population, GDP, and calculates per capita. • Compares with US data • Brief analysis of available resources, labor and trade opportunities • Summarized in a 1-page letter to the World Bank asking for a 10-billion dollar loan and why the loan would be necessary to improve the per capita GDP, improve standard of living, and reduce poverty, suffering, and misery.
Extensions • Arizona GDP contribution • Poverty relativity • Politics and Comparative Economic Systems (Socialism and Capitalism) • Trade, comparative advantage, and deficits • Factors of Production • Scarcity of resources • Labor force education, health care
Sources • Middle School World Geography: Focus on Economics NCEE (Lesson 5) • World Geography Today HOLT (Chapter 6 - Human Systems) • Economics: Principles and Practices GLENCOE (Chapter 14) • Arizona Geographic Alliance (Map) • An Empire of Wealth (John Steele Gordon) The Epic History of American Economic Power PERENNIAL PRESS • www.imf.org (International Monetary Fund) • www.cia.gov (Central Intelligence Agency – Fact Book)