ELECTRONIC LEARNING MODULE

ELECTRONIC LEARNING MODULE For A Presentation of 2017 Contemporary Learning Systems, Inc. 1

2 1 2 3 4 5 6 Understand the definition of globalization and how it applies to the study of economics and how equilibrium affects the marketplace. Understand the definition of income distribution and how it applies to the study of economics and how equilibrium affects the marketplace. Standards: D2.Eco.15.6-8. Explain the benefits and costs of trade policies to individuals, businesses, and society. D2.Eco.15.9-12. Explain how current globalization trends and policies affect economic growth, labor markets, rights of citizens, the environment, and resource and income distribution in different nations. CCSS.ELA-LITERACY.SL.11-12.4 Present information, findings, and supporting evidence, conveying a clear and distinct perspective, such that listeners can follow the line of reasoning, alternative or opposing perspectives are addressed, and the organization, development, substance, and style are appropriate to purpose, audience, and a range of formal and informal tasks. CCSS.ELA-LITERACY.W.11-12.2.B Develop the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic. Estimated time per activity Pre-assessment: Pair Share 15 min Intro: Economic Terms 10 min Direct Instruction: 10 min Direct Instruction: Video & Questions 20-30 min Direct Instruction: Content Slides 20-30 min Guided Practice: Most Important Point 50 min Independent Practice: Vocabulary Review 20 min Post-Assessment: The Love Letter and the Breakup Letter 10 min Project: Project Presentations 60 min PBL Curriculum Alignment: Immigration Understand the definition of trade and how it applies to the study of economics and how equilibrium affects the marketplace. ELA Economics Objectives:

1 2 3 4 5 6 What Does the Future Hold? Intro & Pre-Assessment: Direct Instruction: Pre-Assessment: Pair Share Written Explanation: Module 7 Intro: Economic Terms Intro and Pre-Assessment: Module 7 Video & Questions Video Narrative: Module 7 Content Slides: Module 7 Current Events Article: Guided Practice: Most Important Point Guided Practice: Module 7 Independent Practice: Vocabulary Review Project: Small Group Project: Project Presentations Project: Module 7 Post-Assessment: The Love Letter and the Breakup Letter Independent Practice & Post-Assessment: Module 7 3

Intro & Pre-Assessment: Economic Terms Pair Share Define the subject terms, using the definitions below Trade - the act of buying and selling goods and services Globalization - the development of an increasingly integrated global economy by free trade, free flow of capital, and the tapping of cheaper labor markets Income distribution - national income divided among group of individuals, households, social classes, or factors or production, to compute an average for comparison purposes Invite clarifying questions to the definitions from the class. For each term, students should create a vocabulary card or write the vocabulary information in their class notes. Students should include the following on their vocabulary card or notes: Teacher s description of the term Vocabulary Term Format Picture: Student s description of the term Example Non-example 4

Intro & Pre-Assessment: Economic Terms Pair Share Pair Share: Assign pairs. Direct pairs to discuss the following prompt for 3 minutes: what do you know about trade, globalization, and income distribution? Ask pairs to share their thinking with the class. Click to open map in separate page 5

Direct Instruction: Written Explanation Definitions: Trade - the act of buying and selling goods and services Introduction: Trade is the act of buying and selling goods or services and can take place between nations, organizations, businesses, or even individuals. Trade is an essential part of the economy and can allow for specialization and increased efficiency. According to the idea of comparative advantage, each economy should specialize in those products with the lowest opportunity cost. Of course, specializing in products with the lowest opportunity cost will not produce all the products needed in an economy. This is where trade can supplement the needs of an economy. Through trade, each economy can specialize in the most efficient outcomes, then trade with other economies to access all of its economic needs. Globalization - the development of an increasingly integrated global economy by free trade, free flow of capital, and the tapping of cheaper labor markets Income distribution - national income divided among group of individuals, households, social classes, or factors or production, to compute an average for comparison purposes A focus on international trade has created an era of globalization, the development of an increasingly global economy of free trade, free flow of capital, and the tapping of cheaper labor markets. In the era of globalization, products are made around the world, then distributed to other parts of the world through an interconnected system of trade and supply. This has allowed economies to specialize in products with the lowest opportunity cost, and has lead to more efficient markets. However, the era of globalization has also lead to increased profits for winners in the economy and decreased profits for losers in the new globalized economy. In effect, globalization has affected the distribution of income for businesses and individuals. 6

Direct Instruction: Video Narrative (Laun eo) ch Vid Questions & Notes What Does the Future Hold? #1 Note (0:45) #2 Question (0:55) #3 Note (2:00) #4 Note (2:20) Graph on world population How has U.S. population changed since 1960? [It has grown by about 140 million; it has almost doubled] Brief description of the Gordian knot. The two options for releasing the Gordian knot of immigration: 1. We learn from Europe (brief description) 2. Another tragic attack on the United States 7

#5 Question (3:55) #6 Note (4:20) Why is Dr. Herder against Amnesty? [It creates an incentive to immigrants to move to the United States; or we can t afford it, we can t sustain it ] Brief description of the Barbara Jordan report. Direct Instruction: Video Narrative Questions & Notes #7 Question (5:30) #8 Question (7:00) According to Kevin Appleby, why should the Catholic What was one of the recommendations of the Church support greater numbers of immigrants? Barbara Jordan report? [Catholic teaching looks at the whole world, not just [a cap on legal immigration which was reviewed by one nation; immigrants are good for the United Congress periodically; a primary need for States; the Catholic church in the United States is an immigration was national interest; a cap of about immigrant church] 550,000 immigrants per year] 8

MODULE 3: #9 Note (10:50) #10 Question (11:40) The economic evidence shows that immigrants really do quite well, and not just do well for themselves, but do well for the country. - Cecilia Munoz The question for us is can we sustain the current system? Can we close the doors and have less immigration at a moment when our own population is greying? - Angelo Amador Direct Instruction: Video Narrative Questions & Notes #11 Question (12:55) #12 Note (13:50) #13 Question (14:20) The world s leaders, For Professor Paul Kennedy, what how whether the president of might we deal with the immigration the world bank or the problem in a way that gets at the root secretary general of the cause of the immigration problem? UN or the president of the [Find a way to increase the economies and [Open-door immigration policy takes the United States, should be opportunities of the countries who are pressure off other governments to deal with talking about the sending immigrants to other countries. According to Mr. Amador, can we afford their own issues of economics. For example, consequences of Increase their access to jobs and their Use graphs or charts to the unemployed in Mexico can simply move continuing population to cut back on immigration? ability to place hope in their own country.] supplement this quote [No, because the population is getting north for a job and send money back home.] growth. older, and also because the immigrants 9 are already part of the system] Lester Brown argues that there are very negative consequences for open-door immigration policies. What are those negative consequences?

Module 7 Economics Trade Globalization Income Distribution

Trade The act of buying and selling goods and services Trade exists between nations, organizations, industries, and individuals. Trade allows a specialization of labor, which can increase worker productivity.

Globalization The development of an increasingly global economy by free trade, free flow of capital, and the tapping of cheaper labor markets. Globalization affects products, ideas, entertainment, people, and information. Globalization has created an interconnected world to maximize the comparative advantage of different economies.

Income Distribution National income divided among a group of individuals, households, social classes, or factors of production, to compute national average for comparison purposes.

Current Events Article: Guided Practice Most Important Point Most Important Point: Students read the article below. An Aging Global Population and Its Economic Implications by Arthur Guarino http://globalriskinsights.com/2017/02/aging-global-pop ulation-economic-implications/ Individually, students reflect on the article. Students should consider: what is the most important point? Students stand, locate a partner, and share their most important point with their standing partner. After the reflection, student partners report to the whole class the most important point stated by their partner. Variation: considering the reflections shared by their peers, individual students return to their seats and write a summary of the article. 14

PAGE 1 of 3 An Aging Global Population and Its Economic Implications A phenomenon deeply troubling economists and policymakers is the aging global population. This is a major concern since it has numerous global economic and financial implications impacting economic growth, health care costs, and social support systems. The United Nations projected that by the year 2100 the world s population will become 11.2 billion and from that 3.2 billion will be at least 60 years old. Even before that occurs, the Second World Assembly on Aging stated that individuals over 60 years old are beginning to outnumber children under the age of 15, however, developed nations attained this distinction in 1998. This phenomenon is called population aging by demographers. People are living longer due to improvements in global health care and fighting infectious diseases such as polio, malaria, and HIV. On the positive side, mortality rates are lower than ever before since such diseases can be cured or controlled. However, this also means lower fertility rates that have been experienced on a historical basis. With lower child mortality rates, families are shrinking in size since women, on average, will bear two children by 2100 rather than the present two and one-half. This is part of a longer-term trend in which the number of births dropped from 5.0 children per woman globally in 1955 to 2.7 in 2005. Combine this with an increase in more people over age 60, then the problem of population aging will only increase over time. The economic implications of an aging global population have many dimensions that developed and developing nations are trying desperately to confront. 15

PAGE 2 of 3 An Aging Global Population and Its Economic Implications Economic implications One key economic implication of an aging population is the strain on social insurance programs and pension systems. With a large increase in an aging population, many nations must raise their budget allocations for social security. For example, India s social security system presently covers only 10 percent of its working-age populace, but its system is operating at a deficit with more funds exiting than entering. In the United States, projections state that the level of social security contributions will start to fall short of legislated benefits this year. In other words, the amount of money coming into social security will lessen due to fewer contributions from workers and more funds going to an aging retired population. In Europe, in order to fund their social security system, 24 nations have payroll tax rates equaling or exceeding 20 percent of wages. The situation is also precarious for pensions. As the global population for elderly and retired workers increases, pensions must provide more income to these recipients so that they can enjoy at least a reasonable standard of living. The problem for pensions is the declining number of younger workers thus resulting in lower funds being contributed and necessitating a higher return for their investments. The problem is compounded when public pension plans in certain nations actually encourage workers to retire early, thus making retiree payouts more expensive than ever before. Another key economic implication of an aging population is the increase in health care costs. As the population ages, health generally declines with more medical attention required such as doctor visits, surgery, physical therapy, hospital stays, and prescription medicine. 16

PAGE 3 of 3 An Aging Global Population and Its Economic Implications There are also increased cases of cancer, Alzheimer s, and cardiovascular problems. All of this costs money and will increase not only due to rising demand by an aging populace, but also because of inflation. For example, in the United States, it is projected that public health expenditures will rise from 6.7 percent of GDP in 2010 to 14.9 percent in the year 2050. This increase in health care costs will mean that nations must put more funds and human resources into providing health care while also attending to the needs of other segments of their people. With an increasing aged population, there will also be shortages of skilled labor trained to care for aged patients. It is projected that the registered nurse workforce in the United States will see a decline of nearly 20 percent by 2020 which is below projected requirements. With an aging global population, economic growth will also be impacted. Most importantly, there will ultimately be less workers available for firms to make products and provide services. This shrinking labor force will mean that fewer workers must support greater numbers of retirees since they must pay taxes for social security, health care programs, and public pension benefits. The global workforce will shrink causing policy and economic concerns. For example, India is expected to see a 46 percent increase in its working-age population over the next quarter century, however, there will be markedly slower economic growth of only 9 percent over the following 20 years. In order for India to become a major player in the world economy, it must have a growing and vibrant workforce. Nations, such as China and Mexico, are expected to witness declines in their workforce from the year 2030 to 2050. Other large economies such as Japan are projected to see a 19 percent decrease in their worker population within the next 25 years followed by a 24 percent decrease over the next 20 years. Europe is also expected to see declining numbers in its workforce which will impact their chance to have a growing, competitive economy. This decline in the global workforce will lead to an increase in the age dependency ratio which is the ratio of working-age to old-age individuals. Globally, the dependency ratio in 1970 was 10 workers for each individual over age 64, but the expected ratio in 2050 is four workers for each person over 64. Required change With an aging population, there is the potential that the world will become a huge nursing home needed to care for more elderly patients. This will mean a change for many nations in employment practices, pension plan structuring, health care costs, and the economic impact of an aging population. Nations will have to make many changes or face slower economic growth and increased social costs that they should have dealt with earlier. 17

Current Events Article: Vocabulary Review: Ask individual students to brainstorm a list of words they ve learned about immigration or economics. List of vocabulary words might include: Scarcity Opportunity cost Decisions made at the margins Production possibilities curve Comparative advantage Demand Law of demand Demand curve shift Supply Law of supply Supply curve shift Equilibrium Surplus Shortage Government role in the economy Globalization Trade Income distribution Independent Practice & Post-Assessment Students might also list words not included on the list above. Ask students to share their words, writing the words on a board or chart paper to create a class list of vocabulary terms. Ask students to summarize the important meaning from each word included on the class list. 18

Current Events Article: Independent Practice & Post-Assessment The Love Letter and the Breakup Letter: Individually, ask students to write down a reflection on the connection between immigration, trade, and globalization. Give students 1 or 2 minutes to accomplish this summary. With an elbow partner, students should share their connections with each other. Ask a few students to report on the connections of their elbow partners. Individually, students should write a letter to one of the terms discussed: immigration, trade, or globalization. The letter can be a love letter, discussing the positive aspects of that term; or the letter can be a breakup letter, discussing critical aspects of that term. 19

In the previous lesson, students conducted a critical friends of their project storyboard from an earlier task. In the current project lesson, students will use these previous lessons to conduct a Critical Friends peer-presentation and peer-reflection of the SPOT Analysis and project storyboard. As a reminder, in the final product at the end of the project, students will design an infographic integrating immigration, economics, and their own thinking. Students should keep in mind that the current iteration will build toward this final goal. This task is ideally suited as an integrated project to use with economic and ELA classes. However, the project can also stand on its own as an economic project. Project: Small Group Project Project Presentations: Project Presentations: Groups should present their infographic to their peers in the class and, if possible, a panel of experts from outside the class. As groups present, evaluate them using the communication and collaboration rubric below. After group presentations, ask groups to evaluate all individuals within their groups. 20