Fixing the World with Economics

 What are the main barriers to economic development around the world?  What are some possible solutions to these problems?

 We’ve talked about poverty, both in the United States and the rest of the world  We’ve talked about GDP and economic targets  Today, we’re going to figure out how to fix contemporary problems in today’s world… USING ECONOMICS!!!

 I have assigned you into groups  In your groups, read your assigned article Highlight any barriers to economic development that are discussed in the article. Discuss the article in your group Answer the three questions at the bottom Be prepared to share out  You have 12 minutes… GO!

 In these articles, there are five major issues in economic development  Welcome to the McFarland Economic Summit 2014

 Some countries don’t have enough people to fill key jobs  Generally, these are agriculture-based economies that lack mechanization  Parts of Africa, Central Asia, etc.

 How can we solve the issue of manpower? Think of the economic policy tools at your disposal

 How can we solve the issue of bad government? Think of the economic policy tools at your disposal

 If an economy appears weak, foreign investment into that economy will taper off  Negative effect on GDP

 How can we solve the issue of lack of investment? Think of the economic policy tools at your disposal

 Infrastructure can be “hard” (roads, bridges, airports) or “soft” (healthcare, social services)  When people lack basic necessities, fulfilling those needs is their first priority

 How can we solve the issue of lack of infrastructure? Think of the economic policy tools at your disposal

 How can we solve the issue of lack of education? Think of the economic policy tools at your disposal

SmartBoard Door WindowsWindows Investment Infrastructure Manpower Government Education

 Each of these issues is complex enough in its own way  When a country has to deal with more than one of these issues, economic development gets incredibly difficult  That’s why you’re going to solve some problems…

 You‘re writing a paper! Select a scenario from the list and write a paper that identifies the economic development issues and offers solutions See rubric for grading criteria HINT: Each scenario has three issues… maybe you should have 3 body paragraphs? Staple assignment sheet to the front of your paper.  Assignment Due: Friday, December 12 th

 There’s a website called “3 rd World Farmer”  It’s an online game designed to raise awareness about the difficulties of international development in the developing world.  It’s also highly addicting… It’s also highly addicting…