Wednesday, December 7th, 2005

International Trade

OBJECTIVE 

Students shall be able to

  1. analyze the locations of resources and evaluate the significance of those locations,

  2. explain the concepts of absolute and comparative advantage,

  3. apply the concept of comparative advantage to explain why and how countries trade,

  4. analyze the impact of U.S. imports and exports on the United States and its trading partners,

  5. define various types of trade barriers,

  6. compare the effects of free trade and trade barriers on economic activities,

  7. understand arguments in favor of protectionism, and

  8. evaluate the benefits and costs of participation in international trade agreements,

  9. analyze how changes in exchange rates of world currencies affect international trade,

  10. describe the effect of various exchange rate systems, and

  11. analyze the effects of changes in exchange rates on the balance of trade.

ACTIVITIES

  1. Students shall read chapter 17 in the text.

  2. Students shall complete chapter worksheets.

Assignment:

  1. Read chapter 17 in the textbook.

  2. Complete pages 71-73 in the workbook.

ASSESSMENT PROCEDURES

Monitor and adjust as necessary. Check student work in the notebook.

TEKS involved: 5B, 9A, 10B, 12A, 12B, 13A, 13B, 13C, 13D, 14A, 14B, 19A, 22A, 23A, 23F, 23G, 24C, 24D, 25A, 25B.