LESSON 1.2: ECONOMIC CHANGE

Focus What did you learn about social change? How is Bacon’s Rebellion, The Great Awakening, and the Abolition Movement examples of social change?

Activating What are some words that you think of when you hear the word “economy? What do you think the phrase “economic turning point” refers too?

Frayer Model: 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.economy Let’s take a look at 3 examples of economic change in American History: Mercantilism Boston Tea Party sharecropping

Mercantilism

What is Mercantilism? Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular, it demands a positive balance of trade. In other words, in order to be considered a powerful nation, it was necessary to export more than import. Think of balancing a check book. You don’t want to write a check for more money than you have in your account. The goal is too make more money than you spend…..so that the amount of money that you have will continue to grow!!!!

Why did Mercantilism develop? Mercantilism developed at a time of transition for the European economy. Isolated feudal estates were being replaced by centralized nation-states as the focus of power. Technological changes in shipping and the growth of urban centers led to a rapid increase in international trade. Over time, competition between nation-states led to the need for strong navies backed by a strong economy. Effects: led to the Triangular Trade involving a three way system of goods between Europe, the Americas, and Africa that was good for the economies and societies of Europe and the colonies. Also led to the strengthening of imperialistic policies, slavery, and the eradication of native peoples.

Mercantilism

AP 1: Collaborative groups: numbered heads. 1’s = birthday closest to June 19. 1’s tell 2’s what they learned about Mercantilism. 2’s tell 1’s how mercantilism relates to economic change.

Boston Tea Party

zZvMZ2rslNTwPNZ6Kfwn1B4N zZvMZ2rslNTwPNZ6Kfwn1B4N What happened? On December 17 th, 1773, in response to the Tea Act passed by the British Parliament, approximately 150 American colonists snuck onto British ships anchored in Boston Harbor and dumped 342 chests of Tea into the harbor as several thousand Bostonians on shore cheered. Why? The American colonists had demanded representation in Parliament. “No taxation without representation!” The colonists wanted to have a voice in the government they were living under. Effect: Seen as a leading cause of the American Revolution. The American people demanded a government that would protect their natural rights of “life, liberty, and the pursuit on happiness.”

AP 2: Create a visual symbol Symbol should reflect how the Boston Tea Party is an Economic Turning point. What happened? What is the impact or effect?

Sharecroppers

What happened? After the Civil War, slaves were emancipated, leading to a collapse of the southern economy. However, former slaves never achieved full equality in the south and were forced to labor in difficult circumstance, similar to the pre-Civil War era in which slavery was the back bone of the southern economy. Sharecroppers did not pay their rent in cash. Instead, they paid a share of their crops, often as much as 2/3rds, to the land owner (former slave plantation owner). Why? Reconstruction ( ) failed to achieve true equality for African Americans. So called “Jim Crow” laws were put into effect to essentially keep the African American in a condition similar to slavery in order to maintain southern society and the economy. Effect: Inequality, segregation, and racism would continue to plague our nation for decades. The Civil Rights movement of the 1950’s and 60’s was a major social movement that paved the way for our modern society.

Sharecroppers As you watch the video, create a list of words that you would use to describe sharecropping.

AP 3 Word Splash (sharecroppers)

Lesson 1.2 continued Think Pair Share 1. How is Mercantilism an example of an economic turning point? 2. How is the Boston Tea Party an example of an economic turning point? 3. How is sharecropping an example of an economic turning point?

Brainstorming Activity/Frayer Model 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!

Possible answers / Frayer Model 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

Assignment Categorize the information presented today into a Web Diagram.

Learning Log Today I learned……….. Respond in your journal the following questions: What did you learn today about economic change? How does mercantilism, the Boston Tea Party, and sharecroppers relate to economic change? What are some of the common factors that lead to economic change? What did you learn about economic change from the “Assembly Line” activity?