1. Globalization Day 8 Mini Lesson

2.  Explore events leading up to financial crisis that struck the US and the world in 2008.  Interpret political cartoons relating to global economic crisis.  Consider the connections between globalization and the current economic crisis.

3.  What have we learned about globalization so far?  Cultural, economic, political?  Effects on people?  Benefits?  Downsides?

4.  Listen to NPR report “Global Pool of Money Got Too Hungry” and complete guided listening worksheet  http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=9 0327686&m=90327669 http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=9 0327686&m=90327669  http://www.choices.edu/resources/documents/organizer_008.pdf http://www.choices.edu/resources/documents/organizer_008.pdf  Global Pool of Money?  Mortgage Loans?  Foreclosures?  http://www.youtube.com/watch?v=LrBuPsvbHB8 http://www.youtube.com/watch?v=LrBuPsvbHB8

5.  In order to analyze the global impact of the crisis, we are going to work in small groups to evaluate a series of political cartoons.  Labels: Identify or name certain things in their cartoons so that it is apparent what the things represent.  Symbolism: Use simple objects to represent larger ideas or concepts.  Analogy: Compare a simple image or concept to a more complex situation, in order to help the viewer understand the more complex situation in a different way.  Irony: Highlighting the difference between the way things are and the way the cartoonist thinks they ought to be.

10.  Economies are so interconnected that failure of bullish US economy led to a series of global events.  US economy has the power to destroy the entire global economy.  With collapse of US economy, China remains as leading power. Global panic when their market has slight hiccups.  In the end, the US public will pay for Wall St errors in one way or another (higher taxes, or increased price consumer goods)

11.  How is the current economic crisis related to globalization?  Money is global – invested all over  Economies slow as credit tightened, internatl trade declines  Drop in US demand hurts rising economies  Loss investor confidence hurts global markets  Lower interest rates = weaker dollar = declining profits for trade partners