Lesson 1.2: Economic Change
What did you learn yesterday about social change? How is women’s rights, Civil Rights, and the counter-culture examples of social change? How has social change impacted our lives today?
How has economic change impacted American history?
What do you think of when you hear the word “economy”? What words would you use to describe the economy? What words are related to the economy? What do you think may be examples of economic turning points in history?
Economy: the process or system by which goods and services are produced, sold, and bought in a country or region. economic change: ... a transformation that occurs within an economy that either increases, sustains, or depletes its vitality.economy Let’s take a look at 3 examples of economic change in American History: The Industrial Revolution The Great Depression Information Age
m/watch?v=r6tRp- zRUJs m/watch?v=r6tRp- zRUJs
Read pages in the text book. Create a list of at least 7 major causes of the Great Depression.
Causes = Buying on Margin, speculation, stock market crash, Bank failures, rise of credit and consumerism, gap between rich and poor, mistakes by Federal Reserve Impact on American society= American people begin to look to the federal government for help. Shift away from “Rugged Individualism” New Deal = It is now the responsibility of government to look after the well being of citizens. Pros and Cons?
The Information Age (also known as the Computer Age, Digital Age, or New Media Age) is a period in human history characterized by the shift from traditional industry that the industrial revolution brought through industrialization, to an economy based on information computerization.
Internet Information and Communications technologies Job loss as a result of automation Middle Class disappearing due to outsourcing Globalization of workforce = wage cuts
Why are jobs being outsourced? What can we do to stop outsourcing? What can we do to encourage American manufacturing and create American Jobs?
Brain storm with a partner as many Economic Turning Points you can think of in our nations history. Remember, almost any event in history is going to have some economic impact!
Wright brothers flight at Kitty Hawk Ford introduces Model T USA enters WW1 Lindbergh flies across Atlantic “Black Tuesday” foretells Great Depression Japan attacks Pearl Harbor Vietnam War Personal computers bring Industrial Age to end (1983) End of Cold War 9/11 Terror Attacks
Today I learned……………… What did you learn today about economic change? How does industrialization, the Great Depression, and the Information Age relate to economic change?