Monday, November 27, 2017

November 27


I showed you a YouTube video called "The Road to War-Italy", which took most of the period. Hopefully, you took good jot notes while the video was playing. Here is the video again, if you need to re-watch certain sections of it:



I would also recommend that you have a look at the following Prezi:



I showed you a video today called "The Other Side of Outsourcing", and while you were watching this video you were supposed to complete a film study sheet. I also gave you some time to work on your Chapter 12 Key Terms and Questions, which are due on Thursday, December 30th. Please remember that your Chapter 10-11 Test is on Wednesday, November 29th.


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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