The American Economy Since WWI Objective: Students will investigate the relationship between politics and economics.

Warm-up: Economy & Politics??? What are the 2 major political parties in the United States? How do you think economics and politics are related??? What role does economic stability play in the popularity of a given political party?

1776-What’s the Big Deal??? Extra-Credit: Raise your hand if you know what happened on this year that is so important and relevant to this class???

Adam Smith: The Wealth Of Nations Published this in 1776 Revolutionized the way nations thought about the economy Known as the “father of classical economics”

His Beliefs: Believed individuals are innately selfish-want the best for themselves, their family, and friends There’s an invisible hand (PROFIT) that will drive individuals to work hard The govt. doesn’t need to intervene and tell people what to do Laissez-faire policy!!! From 1776-1932, the U.S. pursued classical economics

What Happened in the 1930s? Why did the policy of “no govt. intervention” stop suddenly in the 1930s?

COOLIDGE-CLINTON Let’s examine past Presidents of the United States after WWI and look for patterns, trends, and changes that took place over time.

+/- Chronology of Past Presidents Title: American Economy Since WWI In order, starting with Coolidge, determine if the economy was good or bad based on the info in your course notes. Provide a brief explanation on your timeline. + ________________________________ -

Making Connections!!! Answer Qs in complete sentences. Who are the three economic presidents? Why do you think they are considered to be economic presidents? What did the economy look like under these 3 presidents? During times of war, what happens to the economy? How many terms did a President typically serve when: a.)the economy was good b.)the economy was bad