Trade in the Global Community Grade 9 Social Studies

Inquiry Question Does globalization influence our economic activity? Does the global economy have an impact on your future?

Trade Olympics Canada’s Top 15 Trading Partners

Canada’s Top 15 Partners in Trade: Imports International Trade Canada United States: $347,240,902,000 (46.8% of total Canadian exports) China: $19,918,246,000 (4.3%) United Kingdom: $13,680,254,000 (3%) Japan: $10,382,108,000 (2.3%) Mexico: $5,275,137,000 (1.2%) Hong Kong: $4,753,985,000 (1%) Netherlands: $3,483,423,000 (0.8%) Germany: $3,399,830,000 (0.7%) South Korea: $3,334,025,000 (0.7%) France: $2,942,584,000 (0.6%) India: $2,760,047,000 (0.6%) Brazil: $2,402,689,000 (0.5%) Belgium: $2,316,117,000 (0.5%) Norway: $2,004,894,000 (0.4%) Italy: $1,895,280,000 (0.4%)

Canada’s Top 15 Partners in Trade What conclusions can you draw from this activity? 1.Canada has a lot of trading partners. 2.The countries that we used to believe were are largest trading partners (ex Thailand) are no longer 3.Globalization influences us here in Atlantic Canada.

Food For Thought How can a small area like Atlantic Canada compete then against a lot of worldwide corporations that have gone global? Can we?

Program Outcomes Students will be expected to: describe the evolution of global economic activity in Atlantic Canada analyze factors that contribute to the globalization of economic activity demonstrate an understanding of how globalization of economic activity affects Atlantic Canadians and others in the global community

Describe the evolution of global economic activity in Atlantic Canada

Anticipation Guide 1. My future will be influenced by economic globalization. 2. Outsourcing is the way of the future and should continue to develop. 3. Atlantic Canada is a strong participant in the global community. 4. I will choose my future occupation based on what I know about globalization.

Anticipation Guide: Agree or Disagree 5. Canada should continue to trade with large and economically powerful countries like China. 6. I expect to have access to the products I want regardless of how they are produced or get into my hands. 7. I can do something to help the poverty that exists in countries because of globalization and the economy.

Shopping Cart Activity Where do our goods and services that we use in Atlantic Canada actually come from? Complete activity. Answer analysis questions. Compare results to What do we import and export? Research to find what we import and export to each country in the Top 10 list. Fill in chart Chart “What Are We Looking For In Trading Partners?” -video“What Are We Looking For In Trading Partners?”

What is economics? The study of our efforts to satisfy our unlimited wants through the use of limited resources.

Evolution of Trade in Atlantic Canada How did this all come about? It has not always been this way for Canada? “The Evolution of Trade in Atlantic Canada”- (Prezi presentation)“The Evolution of Trade in Atlantic Canada”- “The Evolution of Trade in Atlantic Canada” (Prezi presentation script)“The Evolution of Trade in Atlantic Canada” The Evolution of Trade Timeline Assignment

Analyze factors that contribute to the globalization of economic activity

Globalization of the Economy Globalization of the economy: It means integrating your company into the economy of another country by trading with them, investing in them and even manufacturing in their country.

Factors That Contribute 1) advancement of science and technology- leads to a reduction in transportation and communication costs

Factors That Contribute 2)market-oriented economic reforms leads to development of organizations Examples: GATT- General Agreement on Tariffs and Trade Research Assignment- Trade Organizations WTO- World Trade Organization Research Assignment- Organizations Chart

Factors That Contribute 3) contributions of multinational corporations Definition of multinational corporation: A company that does business in another countries. There may be a branch office there, production factories or outsourcing. Examples??

Examples of Multinational Corporations

What is the main idea of this image?

“The Fries That Bind Us” “The Fries That Bind Us” Click above for enlargement

Multinational Corporations Video McDonald’s and Globalization

Why have international trade? Increased consumer choice and satisfaction Higher standard of living World peace???

Laws of Supply and Demand What we demand and what we supply is based on our culture and by what we define as needs at a given time.

Word Wall Words Consumer Demand Economic good Economic service Supply Demand Producer Hidden market Substitution effect

Notes: Economic Principals Supply and Demand Demand- As the price of an item rises, people will buy less of it. As the price of something falls, people will buy more of it Supply- As the price of something rises, suppliers produce more of it. As the price of something falls, suppliers produce less of it.

Demand Curve for Whoppers Notebook Example

Supply Curve for Tootsie Rolls Notebook Example

Demand and Supply Curve for Mangos Notebook Example

Supply and Demand Assignment Assignment

Word Wall Words Absolute Advantage Comparative Advantage Opportunity Cost

Absolute + Comparative Advantage Absolute Advantage-the ability of a country to produce a good more efficiently than another country Opportunity Cost- what you have to give up in order to make a choice Comparative Advantage-when one country can produce a good or service at a lower opportunity cost than another (This means a country can produce a good relatively cheaper than other countries.)

Advantage Up Close Take notes as you watch the following videos to help you to understand the concepts of absolute advantage, comparative advantage and opportunity cost Absolute Advantage Comparative Advantage Opportunity Cost

Advantage Up Close Absolute Advantage (Don’t click on free trial- just go as far as you can without that.)Absolute Advantage Absolute and Comparative Advantage – excellentAbsolute and Comparative Advantage Absolute and Comparative Advantage – excellentAbsolute and Comparative Advantage

Demonstrate an understanding of how globalization of economic activity affects Atlantic Canadians and others in the global community

Affects on Atlantic Canada How do modern day trends such as outsourcing to other countries affect us in Atlantic Canada? Elsewhere?

Affects on Atlantic Canada Point to consider: *Globalization creates change in the distribution of economic activities. Over time goods and services are produced more efficiently but at the expense ff a reduction or relocation of jobs. Then displaced workers need to be re-trained for new jobs.

Affects on Atlantic Canada Point to consider: *Sometimes a region or a business needs to adapt and change in order to be competitive and stay afloat in the globalized world. This is a challenge for the Atlantic region. Why?

Affects on Atlantic Canada Possible Answers: *small *limited resources or changing resources *competition form bigger centers *no money for innovations

Affects on Atlantic Canada Questions for consideration: *How can a region such as ours respond to current and new trends to ensure long term sustainability? *What do current local companies need to do to compete in the globalized world?

Affects on Atlantic Canada Possible Answers: *innovation *change with the times *focus on trends *research new ideas *modernize equipment *improve technology

Can Atlantic Canada Compete in the Global Economy? 2 Case studies: 1.McCainMcCain 2.GanongGanong

Can Atlantic Canada Complete in the Global Economy? These 2 companies started out small and were able to figure out how to participate in the global economy-. How will small businesses today make a go of it? What are their challenges and what will they do to compete?

Can Atlantic Canada Complete in the Global Economy? (Atlantic Canada Opportunities Agency) Atlantic Canada Case Studies chart Investigative Report Slideshow Assignment Prezi Presentation Tips

WORD WALL QUIZ

How Does Globalization Affect he Economies Around the World? Fair Trade- What is it? “Farmers, Shoppers and Businesses” Slideshow “Not As Sweet As You Think” Slideshow “Why Go Bananas Over Bananas?”

“Banana Split” Documentary -What surprised you the most? -How do you feel now as consumers of bananas? -What are some of the problems of banana production and trade? -What are some of the solutions that seem the most promising? -Why is banana production and trade a good example of the problems related to globalization of the economy? -What kind of action can we take as consumers of bananas? -Does Canada/ Atlantic Canada seem -Are you now willing to play a higher price for bananas? Why or why not? Reflection Assignment Word Wall Quiz