Drive the Economic Dynamism of Small U.S. Cities? What Factors Drive the Economic Dynamism of Small U.S. Cities? Sherilyn Narker Senior Education Program Manager Federal Reserve Bank of Atlanta

Connections to the C3 Framework 11/29/2018

The Power of Economic Dynamism “What brought mass innovation to a nation was not scientific advances—its own or others’—but ‘economic dynamism’: the desire and the space to innovate.” —Nobel Prize–winning economist Edmund Phelps 11/29/2018

Concept Categories Staging the Question Understanding key concepts related to economic dynamism. Concept Categories 11/29/2018

Tools and machines used to produce goods and services. Staging the Question Understanding key concepts related to economic dynamism. Find your match! Human Capital The knowledge and skills of workers used to produce goods and services.  Tools and machines used to produce goods and services. X 11/29/2018

Staging the Question Find the category and corner into which your concept falls. 11/29/2018

Staging the Question Find the category and corner into which your concept falls. 11/29/2018

Sources Supporting Q1: What is economic dynamism? Completing the circle. Sources Source A: Excerpt from Dynamism in Retreat, the Economic Innovation Group, February 2017 Source B: Excerpt from Is the U.S. Economy Losing Its Dynamism? Dennis Lockhart, September 2013 Source C: Excerpt from Small City Economic Dynamism Index Version 2.0 Literature Review, Will Lambe, March 2017 11/29/2018

Supporting Q1: What is economic dynamism? Completing the circle. 11/29/2018

Index A: Global Dynamism Index from Knoema Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index A: Global Dynamism Index from Knoema Index B: Index of State Dynamism from the Economic Innovation Group Index C: Small City Economic Dynamism Index from the Federal Reserve Bank of Atlanta 11/29/2018

Index A: Global Dynamism Index from Knoema Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index A: Global Dynamism Index from Knoema 11/29/2018

Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index A: Global Dynamism Index from Knoema. (Lag – 2013 updated in 2015) 11/29/2018

Index B: Index of State Dynamism from the Economic Innovation Group Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index B: Index of State Dynamism from the Economic Innovation Group 11/29/2018

Index B: Index of State Dynamism from the Economic Innovation Group Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for our own country, state, and closest small city? Index B: Index of State Dynamism from the Economic Innovation Group Find Your State and Trend http://bit.ly/2r18iNj 11/29/2018

Small Cities For this inquiry, we will define small cities as those with populations of less than 500,000. Ranking is from 1 to 400. The closer the city’s rank is to 1, the more economic dynamism the city has. Rank is based on 13 indicators from a variety of data sources. 11/29/2018

Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index C: Small City Economic Dynamism Index from the Federal Reserve Bank of Atlanta 11/29/2018

Find Your Closest Small City http://bit.ly/2bGw6Pa Supporting Q2: What indicators help us measure the dynamism of countries, U.S. states, and U.S. small cities? What is the trajectory for these indicators for your own country, state, and closest small city? Index C: Small City Economic Dynamism Index from the Federal Reserve Bank of Atlanta Find Your Closest Small City http://bit.ly/2bGw6Pa Gainesville LFPR = 41.2% Gainesville LFPR = 40% 11/29/2018

Groups 2 & 6 - Source B: Chico, CA vs Yuba City, CA Supporting Q3: What lessons do we learn by comparing the characteristics of high dynamism and low dynamism in small cities in California? Groups 1 & 5 - Source A: Hanford- Corcoran, CA vs Visalia-Porterville, CA Groups 2 & 6 - Source B: Chico, CA vs Yuba City, CA Groups 3 & 7 - Source C: Napa, CA vs Clearlake, CA Groups 4 & 8 - Source D: Salinas, CA vs Merced, CA Gallery Walk – One group member remains to provide explanation, other group members rotate. Each group will place a sticker beside common observations. 11/29/2018

Supporting Q4: How important is increasing dynamism of small cities for the U.S. economy? Economic dynamism self-assessment 11/29/2018

Tally your total and the class total on your score sheet. Supporting Q4: How important is increasing dynamism of small cities for the U.S. economy? Economic dynamism self-assessment scoring Tally your total and the class total on your score sheet. 11/29/2018

Supporting Q4: How important is increasing dynamism of small cities for the U.S. economy? Read sources and reflect. Source A: Making the case for more economic dynamism by Jonathan Dworin, State Science and Technology Institute, June 2017 Source B: Declining Business Dynamism in the United States: A Look at States and Metros, Ian Hathaway and Robert Litan, May 2014 Source C: Economic Dynamism Falls Across the U.S., Sam Fleming and Lauren Leatherby, Financial Times, May 2017, article is available online Knowing the choices most associated with high levels of economic dynamism, explain why you would or would not consider changing your responses on some of the items? What reasons, not given, might explain your score range on the assessment? Which parts of the description of your score range, if any, describe you accurately? After reading these articles and thinking about your score, how important is it to increase the dynamism of small cities in the U.S.? Use the assessment and the articles to support your answer. If the class score represented your community’s level of economic dynamism, what would you expect to see happen in your community over the next five years? 11/29/2018

Summative Performance Task & Taking Informed Action Students have an opportunity to inform their community’s future! 11/29/2018