Friday, November 24, 2017

November 24

You wrote your Paper 1 on Case Study 1 in Prescribed Subject 3 today. Please don't forget that you have homework and projects due next week. The Case Study 1 Review Google Doc is due on Tuesday, November 28thThe chart will be for homework check marks. The sample Paper 1 is for marks. The two mini-essays will also be marked. Do not take extra time to write these assignments. Take 60 minutes to write the sample Paper 1Take 30 minutes for each mini-essay, 60 minutes total

We finished watching "The Age of Wal-Mart" today in class. I handed back some past homework checked assignments as well. You had the remainder of class time to work on your Chapter 12 Key Terms and Questions. Please don't forget that you have your Chapter 10-11 Test on Wednesday, November 29th, you can find the 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). This test is on Wednesday, November 29th. 

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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