Economics
Week of Dec 9 - 13
***Inclement Weather Assignments (All Economics) - Read and answer questions for each day we miss school due to bad weather. Answer the questions on a separate piece of paper and return it to school when we all return.***
AMI DAY 1
Read the following passage and answer the questions that follow:
Only a small river separates the East German city of Görlitz from Poland. In 1896 a small nonpareils candy company was founded there by the Rudolf Hoinkis family. Today it is still a family run business with Mr. Bernd-Christian Hoinkis as the general manager, but for much of the 20th century this candy company was not always run nor owned by the family. The following is a synopsis of the company’s history as told to me by Mr. Hoinkis in July of 2003:
In 1945 when East Germany was under the command economy, the government took control of the business, however, family members were allowed to remain employed since they knew how to make the candies. The government was the only customer so there was no need to improve technologically or deal with advertising. In 189 the command economy fell. One reason for this was because the system at the time didn’t work economically. This was a very chaotic time for the country and for Mr. Hoinkis because he didn’t know the market economy. He also had to buy the company back from the government although he claims it was not much, and he has 20 years to pay them. However, under the command economy, the company had lost 40-50 years in the modern manufacturing world. They didn’t know how to package or advertise the product so it was hard to export to the West. The result was the company was going to close, but Mr. Hoinkis went to a sweets fair in Cologne, Germany. There he met a Belgian who was interested in packaging the sweets so they could compete in the Western markets. Things moved fast and in 1994 the company received an award for the sweets and in 1996 a new factory was built. The candy products are now exported to 22 countries and the factory now has 3 working shifts of employees. Under the command economy, salaries were low, but there was no unemployment in the area. All the candy prices were fixed. There was no need for the consumer to compare prices so they mode of life was easier.
Under the market economy, there was an 800% increase in efficiency. One machine took the place of 40 people. 98% of the people like the new system. Mr. Hoinkis is now looking at the eastern markets in Poland and the Czech Republic.
Questions: 1.
Who owned the company between 1945 and 1989?
2. Name one reason why company almost closed in 1990s?
3. Explain why the company was able to exist under the command economy, yet had difficulty after 1989?
4. What percent of the people does Mr. Hoinkis feel are unhappy with the market economy?
5. Give one negative effect of the transition to the market economy?
6. Give one positive effect of the transition to the market economy?
7. How do we know that Mr. Hoinkis is determined to make his company successful in the market economy?
AMI DAY 2
Read the following article and answer the questions that follow:
Curbs on Tomatoes from Mexico Cause U.S. Prices to Rise
Mexican Farmers are Enraged as Their Crops Rot: Florida Growers Had Urged Restraints
By Norman Pearlstine
Staff Reporter of The Wall Street Journal
NOGALES, Mexico - U.S. housewives and Mexican tomato farmers have a common complaint these days.
Neither is happy with the supply of fresh tomatoes in U.S. supermarkets. And they can both look to a common “villain” – the U.S. Dept. of Agriculture
The reason: On Jan. 9, at the urging of Florida growers who compete with Mexico to supply winter tomatoes to U.S. markets, the Agriculture Dept. slapped a set of minimum-size restrictions on all tomatoes sold in the U.S. The chief effect of the complicated restrictions to cut sharply the imports of Mexican tomatoes – and to drive U.S. prices as much as 30% higher than a year ago.
While U.S. housewives are irked with the price increases, Mexican tomato farmers are enraged as they watch tons of their tomatoes being devoured by cattle or simply rotting in heaps along highways. “The whole of Mexico feels stabbed in the back,” says Raul Batiz, a farmer from Culiacan and president of the 20,000 member Confederation of Agriculture Associations of Sinaloa.
For many Mexicans the tomato situation has begun to assume the proportions of a major international incident. Mexican government officials and newspapers have reacted angrily. Mexico’s ambassador to the U.S., Hugo B. Margain, filed a formal protest with the State Dept., and newspaper editorials depict the tomato regulations as an example of how the bit Yankee likes to push around his diminutive neighbor. One cartoon depicts a large Uncle Sam stabbing a small Mexican farmer in the back. The Mexican bleeds catsup.
1. What caused the price of tomatoes to rise, a change in supply or a change in demand?
2. Based on the information in this article alone, what do you think might have happened to the price of catsup? Why?
3. Who benefits and who suffers as a result of the Dept. of Agriculture size restrictions on tomatoes?
AMI DAY 3
After reading the following article and examining the pros and cons of globalization decide whether you think globalization is a good idea or bad idea. Write one paragraph defending your stance on the topic.
The Pros And Cons Of Globalization
Mike Collins , CONTRIBUTOR write about manufacturing and government policies
A story in the Washington Post said “20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. In the U.S. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was much lower than theirs. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish.”
There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. Globalization has also been good for Multi-national corporations and Wall Street. But has globalization been good for working people (blue or white collar) and has led to the continuing deindustrialization of America.
Globalization is a complicated issue. It is necessary to evaluate the pros and cons before drawing any conclusions.
Pros
Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty.
1. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. This is not true. There are still many barriers to free trade. The Washington Post story says “the problem is that the big G20 countries added more than 1,200 restrictive export and import measures since 2008
2. Globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers.
3. Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.
4. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish. This is an ethereal goal which hasn’t been achieved in most countries.
5. Globalization and democracy should go hand in hand. It should be pure business with no colonialist designs.
6. There is now a worldwide market for companies and consumers who have access to products of different countries.
7. Gradually there is a world power that is being created instead of compartmentalized power sectors. Politics is merging and decisions that are being taken are actually beneficial for people all over the world.
8. There is more influx of information between two countries, which do not have anything in common between them.
9. There is cultural intermingling and each country is learning more about other cultures.
10. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other.
11. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens.
12. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization.
13. Labor can move from country to country to market their skills.
14. Sharing technology with developing nations will help them progress. (True for small countries but stealing our technologies and IP have become a big problem with our larger competitors like China.)
15. Transnational companies investing in installing plants in other countries provide employment for the people in those countries often getting them out of poverty.
16. Globalization has given countries the ability to agree to free trade agreements like NAFTA, South Korea Korus, and The TPP.
Cons
• The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. “It is wonderful for managers, owners and investors, but hell on workers and nature.”
• Globalization is supposed to be about free trade where all barriers are eliminated but there are still many barriers.
• The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs. He pegs the net losses due to our trade deficit with Japan ($78.3 billion in 2013) at 896,000 jobs, as well as an additional 682,900 jobs from the Mexico –U.S. trade-deficit run-up from 1994 through 2010.”
• Workers in developed countries like the US face pay-cut demands from employers who threaten to export jobs. This has created a culture of fear for many middle class workers who have little leverage in this global game
• Large multi-national corporations have the ability to exploit tax havens in other countries to avoid paying taxes.
• Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages, living and working conditions), as well as lack of concern for environment, mismanagement of natural resources, and ecological damage.
• Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power, due to globalization.
• Building products overseas in countries like China puts our technologies at risk of being copied or stolen.
• Globalization is not working for the majority of the world. “During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries. The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. “
• Some experts think that globalization is also leading to the incursion of communicable diseases. Deadly diseases like HIV/AIDS are being spread by travelers to the remotest corners of the globe.
• Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods. There is also an increase in human trafficking.
• Social welfare schemes or “safety nets” are under great pressure in developed countries because of deficits, job losses, and other economic ramifications of globalization.
Globalization is an economic tsunami that is sweeping the planet.
Snow DAY 4
https://www.youtube.com/watch?v=4BbkQiQyaYc World Population Growth Video
Answer the following questions:
Where are the main places that large numbers of people exist in 1700?
During what event did the population of the U.S. begin to spread?
How long will it take for the world to double its present population?
Snow DAY 5
http://www.nationmaster.com/country-info/stats/People/Population-growth-rate
Go to the above website and answer the following questions:
1. Define the following terms: Population growth rate, birth rate, GDP per capita, total fertility rate.
2. Compare the following nations in terms of the following statistics:
Afghanistan China United States Norway Somalia
Population Growth Rate
Poverty level
Birth Rate
GDP per capita
Total Fertility Rate
You can accomplish this by simply finding the statistics for each of the categories and then creating a chart.
***Inclement Weather Assignments (All Economics) - Read and answer questions for each day we miss school due to bad weather. Answer the questions on a separate piece of paper and return it to school when we all return.***
AMI DAY 1
Read the following passage and answer the questions that follow:
Only a small river separates the East German city of Görlitz from Poland. In 1896 a small nonpareils candy company was founded there by the Rudolf Hoinkis family. Today it is still a family run business with Mr. Bernd-Christian Hoinkis as the general manager, but for much of the 20th century this candy company was not always run nor owned by the family. The following is a synopsis of the company’s history as told to me by Mr. Hoinkis in July of 2003:
In 1945 when East Germany was under the command economy, the government took control of the business, however, family members were allowed to remain employed since they knew how to make the candies. The government was the only customer so there was no need to improve technologically or deal with advertising. In 189 the command economy fell. One reason for this was because the system at the time didn’t work economically. This was a very chaotic time for the country and for Mr. Hoinkis because he didn’t know the market economy. He also had to buy the company back from the government although he claims it was not much, and he has 20 years to pay them. However, under the command economy, the company had lost 40-50 years in the modern manufacturing world. They didn’t know how to package or advertise the product so it was hard to export to the West. The result was the company was going to close, but Mr. Hoinkis went to a sweets fair in Cologne, Germany. There he met a Belgian who was interested in packaging the sweets so they could compete in the Western markets. Things moved fast and in 1994 the company received an award for the sweets and in 1996 a new factory was built. The candy products are now exported to 22 countries and the factory now has 3 working shifts of employees. Under the command economy, salaries were low, but there was no unemployment in the area. All the candy prices were fixed. There was no need for the consumer to compare prices so they mode of life was easier.
Under the market economy, there was an 800% increase in efficiency. One machine took the place of 40 people. 98% of the people like the new system. Mr. Hoinkis is now looking at the eastern markets in Poland and the Czech Republic.
Questions: 1.
Who owned the company between 1945 and 1989?
2. Name one reason why company almost closed in 1990s?
3. Explain why the company was able to exist under the command economy, yet had difficulty after 1989?
4. What percent of the people does Mr. Hoinkis feel are unhappy with the market economy?
5. Give one negative effect of the transition to the market economy?
6. Give one positive effect of the transition to the market economy?
7. How do we know that Mr. Hoinkis is determined to make his company successful in the market economy?
AMI DAY 2
Read the following article and answer the questions that follow:
Curbs on Tomatoes from Mexico Cause U.S. Prices to Rise
Mexican Farmers are Enraged as Their Crops Rot: Florida Growers Had Urged Restraints
By Norman Pearlstine
Staff Reporter of The Wall Street Journal
NOGALES, Mexico - U.S. housewives and Mexican tomato farmers have a common complaint these days.
Neither is happy with the supply of fresh tomatoes in U.S. supermarkets. And they can both look to a common “villain” – the U.S. Dept. of Agriculture
The reason: On Jan. 9, at the urging of Florida growers who compete with Mexico to supply winter tomatoes to U.S. markets, the Agriculture Dept. slapped a set of minimum-size restrictions on all tomatoes sold in the U.S. The chief effect of the complicated restrictions to cut sharply the imports of Mexican tomatoes – and to drive U.S. prices as much as 30% higher than a year ago.
While U.S. housewives are irked with the price increases, Mexican tomato farmers are enraged as they watch tons of their tomatoes being devoured by cattle or simply rotting in heaps along highways. “The whole of Mexico feels stabbed in the back,” says Raul Batiz, a farmer from Culiacan and president of the 20,000 member Confederation of Agriculture Associations of Sinaloa.
For many Mexicans the tomato situation has begun to assume the proportions of a major international incident. Mexican government officials and newspapers have reacted angrily. Mexico’s ambassador to the U.S., Hugo B. Margain, filed a formal protest with the State Dept., and newspaper editorials depict the tomato regulations as an example of how the bit Yankee likes to push around his diminutive neighbor. One cartoon depicts a large Uncle Sam stabbing a small Mexican farmer in the back. The Mexican bleeds catsup.
1. What caused the price of tomatoes to rise, a change in supply or a change in demand?
2. Based on the information in this article alone, what do you think might have happened to the price of catsup? Why?
3. Who benefits and who suffers as a result of the Dept. of Agriculture size restrictions on tomatoes?
AMI DAY 3
After reading the following article and examining the pros and cons of globalization decide whether you think globalization is a good idea or bad idea. Write one paragraph defending your stance on the topic.
The Pros And Cons Of Globalization
Mike Collins , CONTRIBUTOR write about manufacturing and government policies
A story in the Washington Post said “20 years ago globalization was pitched as a strategy that would raise all boats in poor and rich countries alike. In the U.S. and Europe consumers would have their pick of inexpensive items made by people thousands of miles away whose pay was much lower than theirs. And in time trade barriers would drop to support even more multinationals expansion and economic gains while geo political cooperation would flourish.”
There is no question that globalization has been a good thing for many developing countries who now have access to our markets and can export cheap goods. Globalization has also been good for Multi-national corporations and Wall Street. But has globalization been good for working people (blue or white collar) and has led to the continuing deindustrialization of America.
Globalization is a complicated issue. It is necessary to evaluate the pros and cons before drawing any conclusions.
Pros
Supporters of globalization argue that it has the potential to make this world a better place to live in and solve some of the deep-seated problems like unemployment and poverty.
1. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, and other barriers between nations. This is not true. There are still many barriers to free trade. The Washington Post story says “the problem is that the big G20 countries added more than 1,200 restrictive export and import measures since 2008
2. Globalization represents free trade which promotes global economic growth; creates jobs, makes companies more competitive, and lowers prices for consumers.
3. Competition between countries is supposed to drive prices down. In many cases this is not working because countries manipulate their currency to get a price advantage.
4. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity, creates the conditions in which democracy and respect for human rights may flourish. This is an ethereal goal which hasn’t been achieved in most countries.
5. Globalization and democracy should go hand in hand. It should be pure business with no colonialist designs.
6. There is now a worldwide market for companies and consumers who have access to products of different countries.
7. Gradually there is a world power that is being created instead of compartmentalized power sectors. Politics is merging and decisions that are being taken are actually beneficial for people all over the world.
8. There is more influx of information between two countries, which do not have anything in common between them.
9. There is cultural intermingling and each country is learning more about other cultures.
10. Since we share financial interests, corporations and governments are trying to sort out ecological problems for each other.
11. Socially we have become more open and tolerant towards each other and people who live in the other part of the world are not considered aliens.
12. Most people see speedy travel, mass communications and quick dissemination of information through the Internet as benefits of globalization.
13. Labor can move from country to country to market their skills.
14. Sharing technology with developing nations will help them progress. (True for small countries but stealing our technologies and IP have become a big problem with our larger competitors like China.)
15. Transnational companies investing in installing plants in other countries provide employment for the people in those countries often getting them out of poverty.
16. Globalization has given countries the ability to agree to free trade agreements like NAFTA, South Korea Korus, and The TPP.
Cons
• The general complaint about globalization is that it has made the rich richer while making the non-rich poorer. “It is wonderful for managers, owners and investors, but hell on workers and nature.”
• Globalization is supposed to be about free trade where all barriers are eliminated but there are still many barriers.
• The biggest problem for developed countries is that jobs are lost and transferred to lower cost countries.” According to conservative estimates by Robert Scott of the Economic Policy Institute, granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs. He pegs the net losses due to our trade deficit with Japan ($78.3 billion in 2013) at 896,000 jobs, as well as an additional 682,900 jobs from the Mexico –U.S. trade-deficit run-up from 1994 through 2010.”
• Workers in developed countries like the US face pay-cut demands from employers who threaten to export jobs. This has created a culture of fear for many middle class workers who have little leverage in this global game
• Large multi-national corporations have the ability to exploit tax havens in other countries to avoid paying taxes.
• Multinational corporations are accused of social injustice, unfair working conditions (including slave labor wages, living and working conditions), as well as lack of concern for environment, mismanagement of natural resources, and ecological damage.
• Multinational corporations, which were previously restricted to commercial activities, are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power, due to globalization.
• Building products overseas in countries like China puts our technologies at risk of being copied or stolen.
• Globalization is not working for the majority of the world. “During the most recent period of rapid growth in global trade and investment, 1960 to 1998, inequality worsened both internationally and within countries. The UN Development Program reports that the richest 20 percent of the world's population consume 86 percent of the world's resources while the poorest 80 percent consume just 14 percent. “
• Some experts think that globalization is also leading to the incursion of communicable diseases. Deadly diseases like HIV/AIDS are being spread by travelers to the remotest corners of the globe.
• Globalization has led to exploitation of labor. Prisoners and child workers are used to work in inhumane conditions. Safety standards are ignored to produce cheap goods. There is also an increase in human trafficking.
• Social welfare schemes or “safety nets” are under great pressure in developed countries because of deficits, job losses, and other economic ramifications of globalization.
Globalization is an economic tsunami that is sweeping the planet.
Snow DAY 4
https://www.youtube.com/watch?v=4BbkQiQyaYc World Population Growth Video
Answer the following questions:
Where are the main places that large numbers of people exist in 1700?
During what event did the population of the U.S. begin to spread?
How long will it take for the world to double its present population?
Snow DAY 5
http://www.nationmaster.com/country-info/stats/People/Population-growth-rate
Go to the above website and answer the following questions:
1. Define the following terms: Population growth rate, birth rate, GDP per capita, total fertility rate.
2. Compare the following nations in terms of the following statistics:
Afghanistan China United States Norway Somalia
Population Growth Rate
Poverty level
Birth Rate
GDP per capita
Total Fertility Rate
You can accomplish this by simply finding the statistics for each of the categories and then creating a chart.
Economics
Economics - MTR
Assessments for the Week of Dec 9 - 13
Monday:
Tuesday:
Thursday:
Monday
Beginning/Bell Ringer: "Good Things"
Content/Skill Review: Analysis
Focus for the week/Launch for new unit: Monopolies/Stocks
Tuesday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Review Monopolies/Stocks
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review Assignment
Independent Practice (Students do the work alone): Review/Practice Activity
Thursday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Exam
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review Assignment
Independent Practice (Students do the work alone): Review/Practice Activity - Exam
Economics - MTR
Assessments for the Week of Dec 9 - 13
Monday:
Tuesday:
Thursday:
Monday
Beginning/Bell Ringer: "Good Things"
Content/Skill Review: Analysis
Focus for the week/Launch for new unit: Monopolies/Stocks
Tuesday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Review Monopolies/Stocks
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review Assignment
Independent Practice (Students do the work alone): Review/Practice Activity
Thursday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Exam
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review Assignment
Independent Practice (Students do the work alone): Review/Practice Activity - Exam
PAP Economics
PAP Economics - MTR
Assessments for the Week of Dec 9-13
Monday:
Tuesday:
Thursday:
Monday
Beginning/Bell Ringer: "Good Things"
Content/Skill Review: Analysis
Focus for the week/Launch for new unit: Monopolies/Stocks
Tuesday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Review Monopolies/Stocks
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review Assignment
Independent Practice (Students do the work alone): Review/Practice Activity
Thursday
Beginning/Bell Ringer: "Good Things"
Focused Instruction (Teacher does the work): Lecture - Exam
Guided Instruction (Teacher and students do the work): Lecture/Notes/Discussion
Collaborative Learning (Students do the work together): Partner Review
Independent Practice (Students do the work alone): Review Activity - Exam