Part 2: Trading

“First we will consider the issue of trade “First we will consider the issue of trade. Though it is classified as foreign policy because the US government makes trade agreements with foreign nations, policy decisions about trade have domestic implications for the overall economy, affected businesses and industries, individual workers, and consumers.”

“Trade agreements are designed to increase trade by reducing barriers to trade. Before we examine trade agreements, we will explore why countries trade.”

Pair Share Activity The Global Economy: It's a Small World After All With your chair partner read the article and define the following terms in your notes Trade, Absolute Advantage, Comparative Advantage, Opportunity Cost, Balance of Trade, Imports, Exports, Specialization

Free Trade Agreements https://www.youtube.com/watch?v=65UcSx_LrZI (3:00)

Trade: Imports and Exports https://www.youtube.com/watch?v=geoe-6NBy10 (10:00)

http://www.pbs.org/newshour/extra/daily-videos/inside-the-new- trade-deal-between-the-u-s-mexico-and-canada/ (5:00)

Close Reading: NAFTA Small Group Activity Each Group will be assigned a paragraph Reading #1: As you read through the article the first time, circle any words that are unfamiliar to them. These words may include inception, fodder, tumultuous, subside, tariff, codifies, insidious, disparity, etc. Each Group will be responsible for defining any unfamiliar word(s) Every one will define the words in their notes

Close Reading: NAFTA Chair Partner Activity Reading #2: As you read through the article the second time, have highlight words or phrases that describe the goals of United States foreign policy. Highlight/mark/underline words and phrases that describe the “pros” and highlights/mark/underline (in another color) those words and phrases that describe the “cons” of NAFTA.

Close Reading: NAFTA Chair Partner Activity Reading #2: As you read through the article the second time, have highlight words or phrases that describe the goals of United States foreign policy. Highlight/mark/underline words and phrases that describe the “pros” and highlights/mark/underline (in another color) those words and phrases that describe the “cons” of NAFTA.

Close Reading: NAFTA Trade: Assessment Reading #3: After reading the article a third time, answer the following text dependent questions.