Unit 1: Economic, Political, & Social Change Lesson 2: Economic Change
Essential Questions How is the Industrial Revolution, the Great Depression, and the Information Age all considered economic turning points? How has economic change impacted American history?
Activating 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?
What do you think “economic change” means? Key Vocabulary What do you think “economic change” means? Definition. Examples/Impact. Create a test question. Economic Change
Economic Change 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. Let’s take a look at 3 examples of economic change in American History: The Industrial Revolution The Great Depression Information Age
What do you already know about the Industrial Revolution?
The Industrial Revolution https://www.youtub e.com/watch?v=r6tR p-zRUJs
Assessment Prompt 2: Complete the “L” Section
The Great Depression Causes: 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?
http://www.history.co m/topics/great- depression
Assessment Prompt 2: Great Depression Causes Effects
Information Age 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.
Impact of the Information Age Internet Information and Communications technologies Job loss as a result of automation Middle Class disappearing due to outsourcing Globalization of workforce = wage cuts
https://www.youtube.com/watch?v=U9hWV5i-V3w Why are jobs being outsourced? What can we do to stop outsourcing? What can we do to encourage American manufacturing and create American Jobs?
Assessment Prompt 3: Quick Write How has globalization and outsourcing impacted our American economy?
Brainstorming Activity 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!
Assignment Complete a web diagram in your groups about the economic turning points we have discussed today and their impacts.
Economic Turning Points
Journal Answer the EQs: How is the Industrial Revolution, the Great Depression, and the Information Age all considered economic turning points? How has economic change impacted American history?