1. SWBAT: Explain the causes of the Great Depression
Do Now:
What words or phrases come to mind when you hear the words “Great Depression?

2. President Herbert Hoover – Republican – 1929-1933
Herbert Hoover believed in “rugged individualism”
The idea that each individual should be able to help themselves out and that the government does not need to involve itself in people's economic lives nor in national economics in general.
Promoted low taxes.
Passed the Hawley-Smoot Tariff – highest tariff in the United States since the Tariff of Abominations

3. Business Cycle
Depression – business failures and high unemployment over an extended period of time.
Recovery – upturn in economy with more jobs becoming available.
Prosperity – businesses succeed and unemployment is low over an extended period of time.
Recession – downturn in economy with job lay-offs.

5. Causes of the Great Depression
The Great Depression officially begins with the crash of the stock market on October 29, 1929 (Known as Black Tuesday). The causes of the Great Depression were:
Speculation in the Stock Market
Shaky Banking
Overproduction of goods
Uneven Distribution of Income
Restricted International Trade (Hawley-Smoot Tariff)

7. On Demand Task
Pretend that you are one of the following: an employee for a large company, a person who owns a business, an elderly person, or a student going to college. Write a journal entry, on a separate sheet of paper, describing how you believe the stock market crash will affect you.