What In the world were they thinking????

1. FOCUS: GLOBALIZATION What In the world were they thinking????

2. Laura Ewing/President and CEO • 1801 Allen Parkway • Houston, TX 77019 • 713.655.1650 • www.economicstexas.org Texas council on Economic education

3. How do I find lessons?www.economicstexas.org

4. Carol Trout, Chair Joe Adams (Union Pacific Railroad) John Anderson (Anderson Foundation) James Cooper (Cooper, Inc) Laura Jaramillo (Wells Fargo) Sherry Kiser (Federal Reserve Bank of Dallas) Board of Directors

5. Partial support for this program was also provided to TCEE by the Council for Economic Education as part of the Cooperative Education Exchange Program (CEEP). The CEEP is funded by the United States Department of Education and carried out in coordination with the United States Department of State. Thanks to CEE

6. 10 week simulation Grade 4 through 12 Teams of 2 to 5 Virtual $100,000 to invest Fall team fees supported by Fidelity Investments Stock Market Game™

7. Economic Challenge • Teams of four • Micro/macro/international tests • Ricardo and Smith Divisions • State Play-offs April 14 at Capitol • Online Regional Competition • Smith Regional winner to NYC

8. Bellaire HS Adam Smith TeamTeacher: Michael ClarkNational 2nd Place Winner

9. PFL Challenge • Teams of four • Online campus tests • State playoffs April 12 at the Federal Reserve Bank Houston • State winners to Missouri

11. Virtual Economics Coming To…

12. What in the World Were They Thinking? How did geography, history, government, economics and history impact the thinking and actions of humans? The session will provide teachers with economic based lessons on how natural resources, politics, and historical events impacted decision making.

13. 6th grade 2(B)  evaluate the social, political, economic, and cultural contributions of individuals and groups from various societies, past and present WH 1 (B)  identify changes that resulted from important turning points in world history such as the development of farming; the Mongol invasions; the development of cities; the European age of exploration and colonization; the scientific and industrial revolutions; the political revolutions of the 18th, 19th, and 20th centuries; and the world wars of the 20th century; And the world cultures teks say…

14. (11)  Economics. The student understands the reasons for the location of economic activities (primary, secondary, tertiary, and quaternary) in different economic systems. The student is expected to: (B)  identify factors affecting the location of different types of economic activities; and (C)  describe how changes in technology, transportation, and communication affect the location and patterns of economic activities. (12)  Economics. The student understands the economic importance of, and issues related to, the location and management of key natural resources. The student is expected to: (B)  analyze how the creation and distribution of resources affect the location and patterns of movement of products, capital, and people; and (C)  evaluate the geographic and economic impact of policies related to the use of resources such as regulations for water use or policies related to the development of scarce natural resources. The world geography teks say…

15. (22)  Science, technology, and society. The student understands the impact of science and technology on the economic development of the United States. The student is expected to: (A)  explain the effects of scientific discoveries and technological innovations such as electric power, the telegraph and telephone, petroleum-based products, medical vaccinations, and computers on the development of the United States; (B)  explain how scientific discoveries and technological innovations such as those in agriculture, the military, and medicine resulted from specific needs U. S. History TEKS say…

16. (11)  Economics. The student understands key components of economic growth. The student is expected to: (A)  analyze how productivity relates to growth; (B)  analyze how technology relates to growth; and The economics teks say…

17. (20)  Science, technology, and society. The student understands the impact of advances in science and technology on government and society. The student is expected to: (A)  analyze the potential impact on society of recent scientific discoveries and technological innovations The Government teks say…

18. Ideas that changed the worldConcepts • Geography • Standard of Living • Interaction with the physical environment • Economics • Technological change • Productivity • Capital goods • Human Capital • Standard of living

19. What is productivity? • What was The Little Red Hen story about? • If it took 8 hours to bake 8 loaves, how many can she bake in 1 hour? • 8X = 8 X = 1 loaf of bread • Productivity = the amount of good or service a worker can produce in a period of time.

20. The hen becomes more productive • If the number of workers remains the same, what is needed to increase productivity? • Technology and capital goods • What are the factors of production? • Land or natural resources • Labor • Capital

21. Visual 8.1 What happened to the productivity of these products and why? As production increases, what happens to prices? What is the impact on standard of living?

22. Problem solving • What problem needed to be solved? • Who came up with a solution? • What was the solution? • How did this solution affect productivity? • Change in technology? • New capital good? • Improve people’s education or health? • How did the solution allow people to overcome challenges presented by the physical environment? • How did this solution affect people’s stand of living? • How did this solution affect people’s quality of life?

23. Finnish technology award foundation …”Promote people’s quality of life, are based on human values and encourage sustainable economic development” Who would you nominate based on 8.3 criteria? Why? Make a poster to present their candidate Judge each other’s nominations with sticky notes

24. The candidates are… • Double Bubbler • Barbed Wire • Penicillin • Telephone • Self-Polishing Steel Plow • Dynamite

25. Assessment • Brainstorm a list of new inventions • Choose one and write a newspaper story and headline about it • Paragraph 1 • Who developed the invention? • What does it do or how is it used? • When was it developed? • Where was it developed? • Why was it developed? • Paragraph 2 • How does the invention increase productivity? • How does it change the environment or allow people to overcome challenges in the environment? • How does it affect the people’s standard of living? • How does it improve the quality of life?

26. Globalization: economic growth • Focus: Globalization (page 211) • Economic growth is a sustained increase in a nation’s production of goods and services. • If the production of goods and services increases faster than a nation’s population, GDP per capita increases and, on average, the people of that nation have more to consume, increasing their material standard of living.(3) • (3) Voluntary National Content Standards in Economics. National Council on Economic Education, New York, NY, 1997, pp. 29, 35-36.

27. What is globalization? “…refers to the worldwide phenomenon of technological, economic, and cultural change, as brought about by expanding facilities for intercommunication and interdependency between traditionally isolated cultures.” “The terms refers to the overall integration, and resulting increase in interdependence, among global actors, be they political, economic, or otherwise.”

28. A.t. kearney/carnegieglobalization index (gi) Economic Integration: Trade and Foreign direct investment Personal: telephone, travel, remittance/personal transfers Technological connectivity: Internet users, Internet hosts, secure servers Political Engagement: international organizations, U.N. peacekeeping, treaties, government transfers

29. Health (life expectancy) • A long and healthy life, measured by life expectancy at birth • Education • Knowledge, measured by the adult literacy rate (2/3 weight) and the combined primary, secondary, and tertiary education gross enrollment ratio (1/3 weight) • Standard of Living (real GDP per capita: GDP/N) • A decent standard of living, measured by gross domestic product (GDP) per capita at purchasing power parity (PPP in U. S. $) Components of the U.N.Human Development index

30. Is the u.s. global or isolated? Use the charts and graphs on pages 217, 220, 221 and the quote above to determine if the U. S. is a significant player in the global economy.

31. Why Do people move? Geography Concepts Migration Immigrants Pull Factors Push Factors Economics Costs Benefits Decision Making

32. Engage Have you ever moved? What was (were) the distance(s) of your move(s)?

33. Visual 4.1geographic mobility • What is significant about each figure and why do you think these changes happened? • Figure 1? • Figure 2? • Figure 3?

34. Terms • Migration • Immigrants • Emigrants • Benefits • Costs • Push and Pull

35. Costs and benefits?Babysit for $6.00 for unruly kids or be with friends?

36. Push and pull factors “In 2002 the United Nations estimated that around 175 million people, or about 3 % of the world’s population, resided in a country different from their country of birth.”

37. Reasons for migration You will be assigned one card from Activity 4.1. You will answer questions on Activity 4.2. Complete the chart based on reading.

38. And the point is?