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Bell Ringer

We are in this room Dec 2-5 and Dec 10-11 Discuss the meaning of this political cartoon with your partner Tell your partner 3 causes of the Great Depression (in your opinion). Bell Ringer. Causes of the Great Depression. Tuesday: December 3, 2013

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Bell Ringer

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  1. We are in this room Dec 2-5 and Dec 10-11 • Discuss the meaning of this political cartoon with your partner • Tell your partner 3 causes of the Great Depression (in your opinion) Bell Ringer

  2. Causes of the Great Depression Tuesday: December 3, 2013 Main Idea: Inflated stock prices, overproduction, high tariffs, and mistakes by the Federal Reserve led to the Great Depression

  3. Read your card. • Get your supplies: • Farmers – Food • Manufacturers – Pencils • Citizens – Black notes • Bankers – Red notes Simulation

  4. Bull market – long period of rising stock prices • 1920s Bull market led to increased stock market investment • Buying on margin – small down payment (10%) and loan from stock broker (got commission and interest) Stock = 5 tokens Banks can keep your money for saving and give loans Bread = 2 tokens Pencils = 1 token Booming Economics 1920s

  5. Margin calls – stockbrokers call investors and tell them they should sell stocks for fear the market will go down further • Customers put stocks up for sale • Market tailspins October 21, 1929

  6. Market plummets October 24, 1929 Black Thursday

  7. Stocks lost 10-15 billion dollars in value October 29, 1929 Black Tuesday

  8. Hawley-Smoot Tariff • Increased tariffs in effort to protect American businesses June 1930

  9. Fed raises interest rates • Bankers cut back on loans Recession Continues

  10. Answer these questions in your notes. Write 3 sentences for each question. • What do you think the government will do in response to these problems? • What do you think the government should do in response to these problems and why? Use any extra time to work on your review packet (Due 12/13/2013) Reflection

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