GLOBALIZATIONGLOBALIZATION

Standard 12.2: Standard 12.2: Students analyze the elements Students analyze the elements of America’s market economy of America’s market economy in a global settingin a global setting

Standard 12.6: Standard 12.6: Students analyze issues Students analyze issues of international trade and explain how of international trade and explain how the U.S. economy affects, and is the U.S. economy affects, and is affected by, economic forces beyond affected by, economic forces beyond the U.S. borders.the U.S. borders.

SWBAT: Define globalization and identify it’s

pros & cons, myths & realities

GlobalizationGlobalization

• The process of making something, such as a business, international or the result of this.

• What is the result of this? Discuss the pros & cons with your partner.

Globalization

Pros Cons

10 Myths of Globalization10 Myths of Globalization

Myth: Something people widely believe to be true but is actually false.

• Skim your myth• With your partner/group you will:

– Read your myth aloud– Give one example from the reading of why

the myth is untrue (have your example written down)

MYTH #1MYTH #1

• Increased Trade Equals More Jobs For Americans at Higher Wages.

• Why this is false:

MYTH #2MYTH #2

• Governments Protect the Environment More as Global Trade Creates Economic Growth.

• Why this is false:

MYTH #3MYTH #3

• Foreign Investment Automatically Raises Living Standards.

• Why this is false:

MYTH #4MYTH #4

• Free Trade Benefits Consumers.

• Why this is false:

MYTH #5MYTH #5

• Globalization “Lifts All Boats”

• Why this is false:

MYTH #6MYTH #6

• What Benefits Corporations Benefits Us All.

• Why this is false:

MYTH #7MYTH #7

• Sweatshops Are Not Necessarily a Bad Thing; That’s How the United States Developed, After All.

• Why this is false:

MYTH #8MYTH #8

• Immigrants Are a Drain on the U.S. Economy.

• Why this is false:

MYTH #9MYTH #9

• Globalization Will Spread Freedom and Democracy by Increasing Trade Between Nations.

• Why this is false:

MYTH #10MYTH #10

• U.S. Workers Don’t Need to Worry About Globalization Because We’re So Much More Productive.

• Why this is false:

Wrap-upWrap-up

• Why do countries trade?• What do countries trade?• What are the terms of trade?• What are some of the costs and

benefits of international trade?