Lesson One

Intro Foundations of Economic Globalization

Key Issues
To what extent does the World Bank and IMF shape contemporary economic globalization?
To what extent does globalization contribute to sustainable prosperity for all people?

This unit focuses on economic globalization and sustainable prosperity and is composed of outcomes that allow students to explore the impact of various events on economic globalization. Students will reflect on how globalization shapes identity, the economy and environmental indicators. Students will also examine how contemporary society responds to the legacies of historical globalization.

Lesson One

Watch the following tutorial

Toward the end of the Second World War, in July 1944, representatives of the United States, Great Britain, France, Russia, and 40 other countries met at Bretton Woods, a resort in New Hampshire, to lay the foundation for the post-war international financial order. This new system, they hoped, would prevent another worldwide economic cataclysm like the Great Depression that had destabilized Europe and the United States in the 1930s and had also contributed to the rise of Fascism and the Second World War.

Therefore, the United Nations Monetary and Financial Conference, as the Bretton Woods conference was officially called, created the International Monetary Fund (the IMF) and the World Bank to prevent economic crises and to rebuild economies shattered by the war by promoting international monetary cooperation, fostering economic growth and employment; and providing temporary financial assistance to countries.

Although intended to benefit the global economy and contribute to world peace, the World Bank and the IMF, become primary targets in the anti-globalization movement.

Assignment

Open a new Word document or PowerPoint presentation. Label it SS10U3L1.surname
In this document, complete ONE of the assignments outlined below.
Submit this assignment using the Assignment Folder for U3L1 Eco Globalization.

How Globalization Affects Developing Countries

Choice 1

Read portions of Chapter Nine, pages 226-229 and refer to the following web site - IMF and World Bank. Then research online to discover whether the IMF and the World Bank are successful in their role of fostering world wide economic growth and employment. Create a 2 column chart that lists the positive and negative contributions of the IMF or World Bank. Then write a detailed paragraph indicating your final perspective as to whether either of these institutions is a positive or negative influence in the world today.

Criteria to include:
2 column chart listing positive and negative contributions
A list of 3+ sources of information (Wikipedia is NOT a valid source)
A detailed paragraph stating your overall conclusions

OR

Choice 2
Read pages 232-233 of the text. Then (click play) to watch the Chinese Growth, Increasing Threat and visit the New York Times video, Choking on Growth to examine China's pollution crisis...

Chinese Growth, Increasing Threat 

Choking on Growth

In a Word document, paste the following questions and include your answers directly below the questions.

           a) Identify and explain (in detail) how economic factors have contributed to environmental concerns in China.

           b) Offer detailed suggestions for a balanced solution that takes into account economic growth as well as environmental and health concerns. Remember not to make similar mistakes made in response to WW1, the Russian Revolution, etc.

Evaluation for this assignment will be based on the following:

1. Knowledge:  /7
2. Content:  /10 
3. Mechanics: /3
TOTAL   /20

Due dates are listed within the Course Calendar. Please refer to this for all updates.

Conclusion

This lesson has examined many issues including several historical factors that have laid the foundations of contemporary global economics. The next lesson will now build on this by researching how communications technologies, trade, transportation and the media help to expand globalization.

"The economic and technological triumphs of the past few years have not solved as many problems as we thought they would, and, in fact, have brought us new problems we did not foresee."
                                                                             Henry Ford