Unit+6-+Global+Economy


 * Unit 6: Global Economy **
 * **__ Time Frame: __**** 2.5 Weeks ** ||
 * **__ Essential Standards: __**
 * __ E. 2.1 __**Explain the basic concepts of trade
 * __ E. 2.2 __**Summarize how nations specialize and become interdependent through trade
 * __ E. 2.3 __**Explain the impact of government policies on international trade
 * __ E. 2.4 __**Analyze the role of NC and the US in the world economy
 * __ E. 3.1 __**Summarize basic macroeconomic indicators and how they vary over the course of a business cycle
 * __ E. 3.2 __**Explain how fiscal policy and the monetary policy influence overall levels of employment, interest rates, production, price level and economic growth
 * __ E. 3.3 __**Analyze organizations in terms of their roles and functions in the United States economy ||
 * **__ Essential Questions: __**
 * 1. How are economic indicators used to measure trends in the economy? **
 * 2. List the phases of the business cycle. **
 * 3. How does the Federal Reserve use monetary policy to ensure balance and stability in the U.S. economy? **
 * 4. How does fiscal policy impact investment decisions made by individuals and businesses? **
 * 5. How do producers and consumers impact the rise and fall of the business cycle? **
 * 6. What impact do trade surpluses and deficits have on the national and the international economies? **
 * 7. How are the interests of free trade and protectionism resolved in the global economy? **
 * 8. **
 * 9. **
 * 10. **
 * 11. ** ||
 * **__ Essential Understandings: __** ||
 * **__ Vocabulary: __**
 * Economic Interdependence**
 * Trade**
 * Surplus**
 * Deficit**
 * Balance of Trade**
 * Comparative Advantage**
 * Specialization**
 * Globalization**
 * Government Policies**
 * Sanction**
 * Embargo**
 * Quota**
 * Tariff**
 * Subsidy**
 * Furniture Industry**
 * Tourism**
 * Gross Domestic Product**
 * Unemployment (rate)**
 * Consumer Price Index**
 * Economic Institutions**
 * Economic Indicators**
 * Stabilization**
 * Microeconomics**
 * Macroeconomics**
 * Fiscal Policy**
 * Monetary Policy**
 * Business Cycle (Expansion, Peak, Contraction, Trough)**
 * Recession**
 * Depression**
 * Standard of Living**
 * Federal Reserve System**
 * Banking** ||
 * **__ Technology: __** ||
 * **__ Resources/Activities: __**
 * Using the CPI, compare costs today with past costs of products **
 * Draw and label the business cycle **
 * Examine GDPs of various countries **
 * Investigate how trade sanctions/embargoes are used currently **
 * Research how the government uses monetary/fiscal policies to influence the economy **
 * Compare microeconomics & macroeconomics ** ||
 * **__ Assessments/Performance Tasks: __** ||