Summary: Today we will continue our study of international trade by considering several different theories of how it works.
Inquiry Question: What does international trade theory tell us about the relationship between trade and economic growth?
Watch the first 7 chapters of this documentary (Commanding Heights Episode 3).
Chapter 1: Prologue (0:00:00)
Chapter 2: Global Idea (0:06:15)
Chapter 3: NAFTA : The First Test (0:10:06)
Chapter 4: Crossing Borders (0:15:49)
Chapter 5: The Global Market (0:19:02)
Chapter 6: Emerging Market Hunters (0:22:50)
Chapter 7: Averting a Meltdown: 1994 (0:27:50)
Focus on this question as you watch and think specifically about the Mexico and the United States as you do so: Based on the first seven chapters of Commanding Heights what are the benefits and costs of international trade?
Formative Assessment: You will have an assessment at the beginning of class. There will be three questions. I will use this rubric to assess your work.
Question #1 will be from my lecture (content knowledge).
Question #2 will be based on the podcast you listened to for homework (critical thinking).
Question #3 will require you to transfer what you've learned to a new problem (creativity).
Watch these videos as a class.
The Heckscher-Ohlin Theorem (What factors govern the composition of a country's trade?)
Specific Factors Models (What determines the economic impact of trade for households and businesses?)
Watch chapters 8-17 of Commanding Heights Episode 3.
Chapter 8: The Global Village 0:32:46
Chapter 9: China and the Tigers 0:39:32
Chapter 10: The Japanese Paradox 0:45:06
Chapter 11: Global Contagion Begins 0:48:07
Chapter 12: Contagion Engulfs Asia 0:56:00
Chapter 13: Russia Defaults 1:03:12
Chapter 14: The Crisis Reaches America 1:05:42
Chapter 15: The Global Debate 1:12:48
Chapter 16: The Battle Joined 1:15:37
Chapter 17: Failure at the Summit 1:20:45
Focus on this prompt as you watch and think specifically about the Mexico and the United States as you do so: Identify and explain 3 ways that the theories you learned in the first two days of this unit apply to the events in this section of the video.