1. Lesson 1.2: Economic Change

2.  What did you learn yesterday about social change? How is women’s rights, Civil Rights, and the counter-culture examples of social change? How has social change impacted our lives today?

3.  How has economic change impacted American history?

5.  What do you think of when you hear the word “economy”?  What words would you use to describe the economy? What words are related to the economy?  What do you think may be examples of economic turning points in history?

6.  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:  The Industrial Revolution  The Great Depression  Information Age

8.  https://www.youtube.co m/watch?v=r6tRp- zRUJs https://www.youtube.co m/watch?v=r6tRp- zRUJs

10.  Read pages 628-633 in the text book. Create a list of at least 7 major causes of the Great Depression.

12.  Causes =  Buying on Margin, speculation, stock market crash, Bank failures, rise of credit and consumerism, gap between rich and poor, mistakes by Federal Reserve  Impact on American society= American people begin to look to the federal government for help. Shift away from “Rugged Individualism”  New Deal = It is now the responsibility of government to look after the well being of citizens. Pros and Cons?

14.  The Information Age (also known as the Computer Age, Digital Age, or New Media Age) is a period in human history characterized by the shift from traditional industry that the industrial revolution brought through industrialization, to an economy based on information computerization.

15.  Internet  Information and Communications technologies  Job loss as a result of automation  Middle Class disappearing due to outsourcing  Globalization of workforce = wage cuts

16.  Why are jobs being outsourced?  What can we do to stop outsourcing?  What can we do to encourage American manufacturing and create American Jobs?

17.  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!

18.  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

21.  Today I learned………………  What did you learn today about economic change? How does industrialization, the Great Depression, and the Information Age relate to economic change?