Tuesday, November 24, 2015

November 24



I finished off the PowerPoint lecture on "Conservatism in the 1920s" today. You had the remainder of class time to work on the 1920s Study Guide. I'll take in your study guides tomorrow.

I gave you the results of the Unit 2 Final Exam today. You had the class period to work on your Chapter 10 Key Terms and Questions, which are due tomorrow.


We finished the film study of the CNBC documentary "The Age of Wal-Mart" today. Your Chapter 10-11 Test tomorrow (Wednesday, November 25th) You had class time to work on your Chapter 12 Key Terms and Questions. Please see the Chapter 10-11 Test study guide below.


Please make sure that you review Chapters 10 and 11. Please review your answers to questions/activities from your Unit 3 worksheet, as well as the key terms (from Chapter 10-11 and from the PowerPoint presentations).

Please review the following two PowerPoint presentations:

  • "Foundations of Economic Globalization"
  • "Expansion of Economic Globalization"

You should know these key terms really well:
  • Bretton Woods Agreement
  • international monetary system
  • fixed exchange rate
  • gold standard
  • floating exchange rate
  • World Bank
  • International Monetary Fund (IMF)
  • centrally planned economy
  • free market economy
  • recession
  • John Maynard Keynes
  • Friedrich Hayek
  • Milton Friedman
  • totalitarian
  • General Agreement on Tariffs and Trade (GATT)
  • tariff
  • World Trade Organization (WTO)
  • Free Trade Agreement (FTA)
  • North American Free Trade Agreement (NAFTA)
You should also be able to answer the following questions:
  • What is economic globalization?
  • How did 20th century world events shape contemporary economic globalization?
  • What factors laid the foundations of contemporary global economics?
  • What were the major global institutions that were created at the Bretton Woods Agreement?
  • What are the major differences between the ideas of John Maynard Keynes and Friedrich Hayek?
  • What factors contribute to expanding globalization?
  • How do international agreements and organizations contribute to expanding globalization?
  • How do transnational corporations contribute to expanding globalization?
  • How do communication technologies contribute to expanding globalization?
  • What are the benefits of the WTO system?
  • What are some criticisms of the WTO?

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