Final Exam Review Terms

Economic Systems & Development
Command Economy
Market Economy
Mixed Economy
Socialism
Communism
Partial Command Economy
Full Command Economy
Capitalism
Laissez Faire
Karl Marx
Adam Smith
Highly Developed Economy
Developed Economy
Developing Economy
LDC (Least Developed Economy)
indicators
variables
infant mortality rate
literacy rate
GDP
GNP
trade off
opportunity cost
risk and return
Recessions & Recovery
Keynesian Theory
Classical Theory
Trickle Down Economics
New Deal (FDR)
New Frontier (Kennedy)
Great Society (Johnson)
Reganomics (Regan)
Stimulus Plan (Obama)
boom
STOCK MARKET

lull
bubble
Stock Market Crash
Dot Com Boom
Stock Market & Federal Reserve
risk & return
stock
share
dividend
NYSE
American Stock Exchange
NASDAQ
Dow Jones
S & P 500
book value
beta
preferred stock
common stock
cyclical stock
counter cyclical stock
growth stock
income stock
blue chip stock
speculative stock
value stock
div/yield
market cap
last price
ask
bid
Yield
Volume
52 Week Hi-Low
Year to Date %
regulators
FDIC
IRS
SEC
split stock
merger
assets
liabilities
bull market
bear market
broker
Series 7 Exam
loopholes
CEO
CFO
Earnings Per Share
P/E (Price/ Earnings) Ratio
Diversified Portfolio
commodities
globalization
ENRON
Jeff Skilling
Kenneth Lay
Andy Fastau
Arthur Anderson
auditors
subsidies
mark to market accounting
rank and yank
pump and dump
bandwidth
PGE
bankruptcy
rolling blackouts
insider trading
401 K
Pensions
perjury

Globalization
global interdependence
World Trade Organization
World Bank
International Monetary Fund
International Court of Justice/ World Court
General Agreement on Tariffs and
United Nations Department of Economic and Social Affairs
tariff
sanction
embargo
subsidy
subsidize
protective tariff
union
Turtle Exclusion Device
International Whaling Commission
sustainability
unilateral
sovereignty
sweatshop
multinational corporation
outsourcing
fair trade
free trade
lazissez faire
service industry
manufacturing industry
Immigration
ICE
INS
green card
visa
chayotes
deportation
amnesty

Final Blog Project - Globalization in the Modern World

In The Economics of Globalization, A Labor View, AFLCIO leader Thomas Palley defines globalization as "a process of international integration of national goods, financial, and labor markets. It is a process that is being
driven by firms through their competitive search for profits, and it is also being driven by the process of market arbitrage which works to ensure that the same goods sell for the same price no matter where they are traded. In a sense, none of this is new, and globalization is just the logical extension to the international economy of processes that have long operated within our own domestic economy for over one hundred years."

http://www.aaas.org/spp/yearbook/2000/ch8.pdf

As with many other controversial issues of international importance, globalization presents both opportunities and challenges. Although the process of integration of markers and policies creates some new problems, it also offers the possibility of addressing old concerns and expanding the reach of resources needed to prevent crises to developing regions and people around the world.

Your term project will require exploring ONE specific aspect of globalization and it's impact on the economy and human rights and development in several areas of the world.

Directions:
I) Select a topic from the list below and actively read the article(s) provided. (In the areas where more than one article is indicated, the purpose of assigning multiple sources is to cover all of the components of your response. Don't be turned off from what looks like potentially "more work", as we will be working with the topics for several weeks, it is key that it be interesting to you.)

1) Technology and the Digital Divide:
http://www.globalization101.org/index.php?file=issue&pass1=subs&id=48

2) Music Piracy/ File Sharing http://www.bbc.co.uk/worldservice/specials/1042_globalmusic/index.shtml (be sure to read the introduction and sections entitled "the global music machine" and "music piracy")

3) World Health and Perscription Drugs
http://www.globalization101.org/uploads/File/Health/health2010.pdf

And either:
a) http://news.bbc.co.uk/1/hi/world/4885714.stm



4) Environmental protection

Introduction: http://www.globalization101.org/issue/environment/

and ONE of the articles linked onto the "Are International Trade and Protection of the Environment Enemies" OR "International Environmental Problems and the Efforts to Solve Them" sections

5) Energy
Introduction: http://www.globalization101.org/index.php?file=issue&pass1=subs&id=326

and ONE of the sub topics listed on the index on the link above (Nuclear Power, Alternative Sources, Energy and the Environment or Energy and Development)

6) Labor / worker's rights:
http://news.bbc.co.uk/1/hi/business/4331896.stm

AND EITHER

a) http://www.globalization101.org/index.php?file=issue&pass1=subs&id=27
OR

b) http://www.globalization101.org/index.php?file=news1&id=111 (emphasizes NAFTA)
http://www.blogger.com/img/blank.gif

7) Child Labor:
http://www.globalization101.org/index.php?file=issue&pass1=subs&id=462


8) Women's Development
http://www.globalization101.org/issue_main/woman

You must address all of the following issues in your project (consider this an optional outline):

a. A description of the political and economic context (development index, role in global economy, etc.) in the nations you selected.

b. an overview of the issues you identified as a matter of importance in these nations (the globalization issue)

c. An explanation of how each of the nations (2 or more) you selected are being impacted by this issue

d. A comparison and evaluation of the impact of these changes on the nations you selected (consider different social classes in your response)

Your final project may be submitted in the form of a paper, powerpoint, scrapbook, website or video with substantial narration.
It must
-be no shorter than 700 words (3-5 pages typed) in length.
-reflect research from no fewer than three outside sources beyond the links posted above.
-include an MLA works cited list as evidence of this research.
-incorporate no fewer than three images
-be presented during our class to your peers during finals week.

Note - this presentation is in addition to not in place of a final exam. A review sheet for units 1-6 will be distributed for your review in class by the end of this week.

This project is due Wednesday June 1 at the beginning of class.

Globalization Test Review Terms

NOTE: This test will be 20 multiple choice questions ONLY, so it's imperative that you study terms and concepts from the last two weeks.

globalization
global interdependence
World Trade Organization
World Bank
International Monetary Fund
International Court of Justice/ World Court
General Agreement on Tariffs and Trade
United Nations Department of Economic and Social Affairs
tariff
sanction
embargo
subsidy
subsidize
protective tariff
union
Turtle Exclusion Device
International Whaling Commission
sustainability
unilateral
sovereignty
sweatshop
multinational corporation
outsourcing
fair trade
free trade
lazissez faire
service industry
manufacturing industry


Additionally, be sure to review the arguments for and against globalizaiton as well as why some people support and oppose the WTO, World Bank and IMF

Be familiar with economic, social, political, technological and environmental aspects of all perspectives.

May Day 101: An Introduction to the International Labor Movement

May 1st is May Day, an international holiday honoring the rights and causes of workers worldwide. This week’s blog asks you to explore contemporary May Day traditions worldwide and requires you to evaluate the role of the labor movement in the modern world.


Introduction:


May Day, also known as International Worker’s Day, is an international day of activism for working people and their families. The origins of May Day can be traced to the national strike movement for an 8 hour work day which gained momentum in the industrial American cities in 1886. In particular, the Chicago strike received national attention as a movement of nearly 35,000 strikers from April 25- May 3 escalated into a riot, resulting in the deaths of three workers. Seeking revenge for what many workers believed to be police brutality (blaming riot police for the escalation of the violence at the Haymarket Square demonstration), strikers continued demonstrating- one angered radical threw a bomb at the police, killing a uniformed officer. While no individual was ever directly linked through evidence to that death, five union organizers were tired, convicted of and received capital (death) sentences for the officer’s murder. Public uproar over the (mis) trial continued and American workers have conducted annual protests on May 1st ever since. In1893, Governor John Peter Altgeld granted the three imprisoned Haymarket defendants (one of them committed suicide in prison) absolute pardon, citing the lack of evidence against them and the unfairness of the trial.

While the immediate result of the Haymarket Affair can be viewed as a mixed result for the labor movement, the protestors work was not in vain. Unions in the mining, railroad worker’s and building trades industries successfully negotiated an eight hour work day by 1890. The Fair Labor Standards Act established the eight hour workday as a federal labor regulation in 1938 as part of FDR’s New Deal reforms.

Inspired by the success of the American labor movements as publicized by the London and New York Times, Mexico and France honored Mayday in 1890 and the movement spread on a global scale ever since. National Labour Day, as it is called in the UK, Austrialia New Zeland, have become particularly popular among workers rights activists since the anti-globalization movement emerged in 1999. While many of the protests have been peaceful demonstrations, there have also been multiple incidents of escalation on both the activists’ and police/ governments’ behalf.

Directions:
1. Actively view the photo essay “May Day” in the TIME Magazine Europe archive from 2011: http://www.time.com/time/europe/photoessays/mayday/And ONE of the following articles on how May Day is honored abroad:

South Korea:
http://mayday.nodong.net/2000/laborday/khistorye.htm
Cuba:
http://news.bbc.co.uk/2/hi/americas/7377662.stm/
Germany:
http://ca.news.yahoo.com/s/afp/090429/business/finance_economy_germany_demo_mayday

Mexico: http://ipsnews.net/news.asp?idnews=33059

Australia: http://www.timeanddate.com/holidays/australia/labour-day

Response: Your post, emailed or typed response is due Wed. April 27 and should be no less than 250 words.





Summarize what you learned about May Day/ International Worker’s Day from the sources. How do the issues you read about relate to what we are learning in class about globalization and/ or trade regulations and the WTO? Provide at least two examples of specific topics we have covered in class or that may have come up in your project.


In your view, should the US adopt May Day/ International Worker’s Day as a federal holiday as it is in Spain and Australia? Explain.

International Trade and Globalization Webquest

For classwork today, complete the questions for the Webquest sections 1-3.

Your blog assessment that is due TUESDAY before class and should be no fewer than 250 words typed. Be sure to include a citation of any articles you reference for question 4.


Hey Hey, Ho Ho! Why do we need the WTO?
www.wto.org
http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm
http://www.g20.org/about_what_is_g20.aspx

1. What is the World Trade Organization, (WTO)?

a. When was it created?

b. Why was it created?


c. Who are its members (in general) ? Who are the G20? (name them)


What is their role in the modern world? What do they do?




2. What is the International Monetary Fond (IMF);
http://www.imf.org/external/about.htm

a. when was it created?

b. Why was it created?


c. What does the IMF do?


d. How does it work?

e. What makes the IMF unpopular?


4. Find out about the World Bank:
http://www.worldbank.org
a. What does it do?

b. Where does the money go?


c. Where does the bank get its money?


d. Who are its members?


e. Who gets to decide where the money goes?



Blog Assignment - Research the internet to identify one example of a modern issue/ region being affected directly by one of the institutions (WTO, IMF or Word Bank).
a. Where is this partnership taking place?

b. Why is this institution involved there?

c. What are their goals for this project?

d. In your opinion, is this a wise investment/ development plan? Explain.

Stocks and Scandals Review Terms for Wednesday's Exam

Note: Use your Language of the Stock Market open note quiz to prepare for this exam. As it is mainly a vocabulary test, it's important to STUDY and memorize definitions, examples and formulas for this test.

Stock Terms
risk & return
stock
share
dividend
NYSE
American Stock Exchange
NASDAQ
Dow Jones
S & P 500
book value
beta
preferred stock
common stock
cyclical stock
counter cyclical stock
growth stock
income stock
blue chip stock
speculative stock
value stock
div/yield
market cap
last price
ask
bid
Yield
Volume
52 Week Hi-Low
Year to Date %
regulators
FDIC
IRS
SEC
split stock
merger
assets
liabilities
bull market
bear market
broker
Series 7 Exam
loopholes
CEO
CFO
Earnings Per Share
P/E (Price/ Earnings) Ratio
Diversified Portfolio
commodities
globalization

Enron Terms:
Jeff Skilling
Kenneth Lay
Andy Fastau
Arthur Anderson
auditors
subsidies
mark to market accounting
rank and yank
pump and dump
bandwidth
PGE
bankruptcy
rolling blackouts
insider trading
401 K
Pensions
perjury

Introduction to Globalization: Case Studies in Enron and Otherwise

In the interest of bridging our current unit on stocks and scandals with our upcoming unit on globalization, this week's blog asks you to explore the concept of globalization through the lens of the global impact and underpinnings of the Enron scandal.

Directions:

1. Read “What is Globalization” at http://www.globalization101.org/What_is_Globalization.html

Summarize what globalization means to you (based on the articles) and identify several potentially positive and negative effects of the growing trend of global interdependence.
* you may also want to read the hyperlink for “investment” and “international trade” for additional information

2. Next read the Nation article entitled “Enron’s Global Crusade”
http://www.thenation.com/article/enrons-global-crusade
Explain how globalization is related to the Enron scandal – even though it was a US based and traded company. Do you think the Enron case represents the positive or negative aspects of globalization? Explain.

For extra credit (10 points on a blog or test) summarize a RECENT article describing the impact of globalization on a modern company or industry. Be sure tp cite your article (author's last, first name, "Title of Article", Title of Page. Date Posted. )

Your blog should be no fewer than 250 TYPED words. The extra credit should be a minimum of 150 words. Handwritten blogs will lose 10% of their grade. This assignment is due Tuesday, April 5 before class.

Reminder: Progress reports are due Thursday, so catch up with any missing work.