Here's the scoop:
I picked eight chapters from the book, "Taking Sides on Controversial Economic Issues." You can choose to work in groups of 2 or 3. (I am assuming most of you will do threes, otherwise we might run out of topics.)
Once you have settled on groups, you'll need to figure who is getting what topics. Certainly, various economists would recommend different ways to allocate these scarce resources: auction, command and control, random draw, the free market, etc. We'll see what Ms. Murr decides...
#1 - Are profits the only business of business?
#2 - Should cities subsidize sports and sports venues?
#5 - Should markets be allowed to solve the shortage in body parts?
#10 - Should a program of universal service be created?
#13 - Are protectionist policies bad for America?
#14 - Should we sweat about sweatshops?
#15 - Are the costs of global warming too high to ignore?
#17 - Has the North American Free Trade Agreement hurt the American economy?
Each packet contains background material, a "yes" article and a "no" article.
Here's what you'll be expected to have for these:
* We'll do three of these Tuesday, Wednesday and Thursday after break. We'll figure out who goes when that first Monday. Everyone MIGHT need to be ready for Tuesday.
* Figure that each of these will go 20 minutes or so. That doesn't mean you need to talk all that time. (In a group of 3, I'd expect a background information speaker, a "yes" speaker, and a "no" speaker to get things started. In a group of 2, you can cover the "background" however.) We'll open these up to the "big group" for participation as well. I figure those "opening speeches" might be 4-5 minutes per side. (They don't need to be actually written out in "speech" form...)
* Think of the article you get today as a starting point. I expect EACH side to draw information from at least one additional source. There's a wealth of information on most of these topics.
* You can draw up a couple discussion questions or link the topic to current issues. (For example, the group on doing the public funding for sports might be able to think of a relevant situation going on locally...)
Once you've got an idea of what you're supposed to do and have your group and article set, the rest of the hour is yours to prepare and/or research. Enjoy your breaks...
]]>That's it.
]]>These are worth 5 points. Basically, if it's clear you took a look at the book and thought about what to share, you'll get them. (Oh yeah, be a good audience member as well. Ask a question. Participate.)
REMEMBER:
Blog #10 should be done by Friday.
I should get your "take-homes" by Friday afternoon. (Emailed through the first Sunday is also fine.)
You can do the "Bonus/ Make-Up" Blog Entry over break or even the week we get back...
Extra credit: Everyone can submit one “bonus” blog entry for extra credit. You can receive a maximum of five points for that entry.
All entries must be posted by Thursday, March 29th in order to receive credit.
From Chapter 12 – “Development Economics”
1. It’s a pretty good question on page 207. “At a time when we can split the atom, land on the moon, and decode the human genome, why do 2.8 billion people, or roughly half the world’s population, live on less than $2 a day.” What do you think?
2. From page 208 onward, Wheelan (in bold type) lists a “sample of the kinds of policies” that “make the difference between the wealth and poverty of nations.” Choose the one factor that you find most significant and explain your rationale for that choice.
3. There are a ton of interesting statistics and examples in this chapter. Select the three you found most interesting and/or surprising and explain why you chose them.
4. Wheelan likens the World Bank and International Monetary Fund to the world’s “welfare agency” and “fire department,” respectively. Based on what you’ve learned, are those characterizations accurate? How well do you feel that they do “their jobs?”
From "Epilogue: Life in 2050"
One question here, with seven variations… You’ve got your own crystal ball. Take any one of the “seven questions worth pondering about life in 2050” and give me your prediction/forecast for what the reality will be when you all are contemplating retirement (or traveling the nation in your RV) in 2050.
There are three things we'll be doing with our remaining time.
"Book Talks" - OK, I don't have any kind of clever name for this. Here's the scoop. I buy books. Too many books. I've got a lot more economics books than I can incorporate directly into the class. Some of them are boring, but a number of them are really quite interesting. I've hopefully brought a bunch of them to class. You'll "check one out," either alone or with a partner. Your job is to be find some interesting things in the book you select. It might be a specific "problem" or chart or anecdote. Perhaps you base a short discussion on something you read, etc. Be creative.
WHAT YOU'LL DO: You do get credit for this. (Up to 10 points possible) We'll start these on Wednesday. You have a minimum of five minutes (maximum of ten) to share/ teach/ discuss whatever it is from the book and/or its subject matter that is of interest to you. We'll take volunteers first, but everyone needs to be ready for tomorrow.
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"New Ideas from Dead Economists" - Each pair of you will receive one chapter from this book that is frequently used in introductory college economics courses. On Thursday, we'll have our "Dead Economists' Breakfast."
WHAT YOU'LL DO: You do get credit for this. (Up to 10 points.) Your job is to share some of what you found interesting/relevant/bizarre from your assigned chapter. We'll walk through the "history" of economics from Adam Smith to the present. If you're not careful, you might learn something.
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"Taking Sides" debates - We'll set this up on Friday. They'll take place after break.
REMINDERS: That last blog due date will get pushed back since we missed those days. As long as #9 and #10 are in by Friday, I'll count them as on time. The "make-up/ bonus" blog entry option will be posted tomorrow, and you can submit those through that week after break.
The "take-home" options have also been posted previously. These questions (actually ANSWERS to these questions) should be turned in by Friday, March 9th. (I will not consider them late however, if they are in my email before the end of the day on Sunday, March 11th.) They WILL be late if I don't get them before that.
Short answer: (20 points - 5 points each)
You need to do four of the following "short answer" questions. Choose any four that you would like from the list. Answers should be between 300 - 500 words or so. You can either print them out or submit them electronically to me as an e-mail attachement.
A. Through some sort of miracle, that little dude with the monocle from the Monopoly game comes to life and wants to talk to you. He doesn't understand why monopolies have long been regulated and/or broken up in the United States. Explain to him some of the reasons why. (Do not pass Go. Do not collect $200.)
B. You and one of your Economics classmates have recently been elected the leaders of two of the world countries. Using specific examples (names, products, and countries), demonstrate your understanding of the terms "absolute advantage" and "comparative advantage".
C. Assume that you are teaching a class of second graders some basic economic principles. You need to explain why the nations of the world benefit from trade. Keeping in mind that the authors of The Armchair Economist will sue plagiarists, develop an analogy or story that gets this point across. (By the way, The Armchair Economist was the source of the "Iowa Car Crop" story...)
D. You are the new headline writer for the StarTribune. Tomorrow's issue is a special edition devoted to globalization. You are in charge of writing five "headlines" for the pro-globalization forces and their best arguments and five "headlines" for the anti-globalization forces and their best arguments. What would those headlines be?
E. The rest of the world has gotten tired of arguing about globalization. They have left you to cast the deciding vote. Is gloablization helpful or harmful? Why?
F. You have been named the President of the World Bank. You unexpectedly have an additional $10 billion in funds to loan out for the purposes of development assistance. In broad terms, tell us what you would do with that money. Where/how would you spend it?
G. Any other bright ideas for questions that you would like to tackle? If so, let me know...
]]>Don't forget to finish up the blog entries, etc. We'll do a couple activities next week that you'll probably find reasonably enjoyable and tolerable as we approach break.
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We'll do a little more with discussion and debate on globalization today.
We'll take some time to tackle any questions regarding the exam material, and then it is time for us to pay tribute to Saturday's "5 x 10" performances scheduled for the Black Box.
Globalization 10 x 5's
We'll spend up to 5 minutes on each of the ten topics/statements below. I'll ask for comments "in character" first, but you are also welcome to speak "as yourself" as we get further into the topic.
* The United States benefits disproportionally from globalization.
* Globalization is a tool by which the West spread its values and ideas around the world.
* Globalization threatens national sovereignty.
* The world can continue to develop economically while remaining environmentally sustainable.
* On balance, globalization is a negative for the majority of the world's population.
* There's nothing wrong with large inequalities in wealth around the world as long as conditions are improving for all.
* On balance, globalization has been a benefit to the interests of workers.
* Those who oppose free trade are inadvertently working to keep poor people poor.
* Globalization has made large-scale terrorism more likely.
* The process of globalization has decreased the risks to human health.
]]>REMINDERS: Blog #9 is due. Blog #10 (last of the required blogs) is due Monday. We'll take the multiple choice/problems part of the Microeconomics and International Economics Exam on Friday. I'd certainly recommend finishing up Naked Economics Chapter 12 and the Epilogue before break as well...
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Welcome one and all to the "4th Annual MPA Globalization Forum." We gather to try and make sense of this force that is reshaping our world...
Today, we'll commence with the "opening statements" from those in attendance. In your ninety seconds of fame (read that as a minimum of one minute and a maximum of three...), you'll have a chance to share your story and your views. There may be a question or two from the floor, and then we'll move on.
So there's no rush to the "podium," I offer this quite random speaking order... (Really, it WAS random. I used the Microsoft Excel random number generator and everything.)
Asia "Sweatshop" laborer
Asia Indian service-industry worker
North America Consumer (middle class)
North America Worker whose job was "outsourced"
Africa Person existing on $1 a day
Latin America Illegal immigrant to the United States
Asia Rural youth recently emigrated to Shanghai
Latin America Manager of foreign-owned factory
Latin America Manual laborer
Africa Leader of nation dependent on coffee exports
Middle East Islamic fundamentalist
North America Environmental activist
Asia Peasant
North America Governmental official
Africa Citizen of resource-rich country
North America Political candidate for Senate
Middle East Young woman attending college
Europe Owner of multi-national corporation
Asia Chinese government official
Middle East Leader of oil-rich state
North America "Big Business" executive
Europe Employee at Volkswagen factory
Europe Owner of multi-national corporation
Asia High-tech manufacturer
Europe Worker "displaced" by immigrant labor
We'll see what time it is when we make it through these speeches. We'll save tomorrow for the "real" negotiating and problem-solving, but I've got a few questions I may ask you yet today...
]]>1. That “machine” that converts corn into things like stereos and cars has reappeared. (page 187) Is this just too simple an allegory for trade? Is it effective? Explain why or why not.
2. Did the discussion on economic sanctions of page 194 lead you to any new conclusions or positions on that topic? (If so, explain. If not, I’d recommend answering a different question…)
3. We’ve talked about sweatshops a number of times. It’s your turn. You’ve read the section about the “comparative advantage” of workers in poor countries. (page 201) As the quarter's end approaches, give us your answer. “Should we sweat about sweatshops?” Why or why not?
4. “Preferences change with income, particularly with regard to the environment.” (page 203) Discuss…
REMINDERS: Chapter #11 of Naked Economics is due to have been read for today. The blog entry for that is now posted, and it is your tenth (and final) required blog entry. Let's make that due Monday. We can chat about the chapter a bit today.
Blog Entry #9 is due tomorrow. (There is no Blog Entry for Chapter #10 since we read that a while ago...)
We'll take the Micro-Economics and International Economics Exam on Friday.
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I thought this Almanac of American Wealth map was kind of interesting...
Much of what is below is simply reprinted from yesterday's entry, but we didn't cover it then. All the links and requirements for the "4th Annual MPA Globalization Seminar" can be found on Lesson #29. We'll do the basics of globalization today.
GLOBALIZATION: Many people argue that this force of integration will come to characterize this era as much as the Cold War had dominated the previous era. Author Thomas Friedman argues that the "Web" has replaced the "Wall" as the symbol of the era.
What is globalization? Simply put, this is the increasing integration of the world through the forces of global trade, business, and finance.
Thomas Friedman's book, The Lexus and the Olive Tree: Understanding Globalization, has become the most widely-cited book on the topic. (Yes, his recent work, The World is Flat is also being widely cited... You 21st Century folks will know what I'm talking about.) He has a number of very useful metaphors and explanations.
A couple of Friedman's ideas:
The Title: The "Lexus" represents the forces of modernity and technology. It is the "drive for sustenance, improvement, prosperity, and modernization." The "Olive Tree" represents "everything that roots us, anchors us, identifies us, and locates us in the world... a family, community, tribe, nation, religion, or home."
There are three balances in the global system:
* Balance between nation-states: The United States has clearly emerged as the sole superpower.
* Balance between nations-states and global markets: Friedman calls the global market of investors the "Electronic Herd". They trade in the global financial centers he calls "Supermarkets".
* Balance between individuals and nation-states: The emergence of people that he calls "Super-empowered Individuals" is a new factor to consider. Some are very angry, others are wonderful.
The "Walls" come down... Friedman argues that the Cold War era gave way to the era of globalization as a result of three fundamental changes.
* Democratization of Technology: caused by advances in miniturization, computerization, digitization, etc. (Computer power has doubled roughly every eighteen months over the past thirty years.)
* Democratization of Finance: caused by computerization, investment technologies, access to financial markets, etc.
* Democratization of Information: spread through things like the Internet, satellite dishes, and television
I'll pass out the initial chapter to "The Lexus and the Olive Tree" for you to read. You can use the remaining time to complete your preparation for tomorrow's "opening statements" for the forum...
You'll learn more about what to do in class.
]]>We'll set up the MPA Globalization Forum today, and it will take place tomorrow and Wednesday.
GLOBALIZATION: Our look at globalization begins today. Many people argue that this force of integration will come to characterize this era as much as the Cold War had dominated the previous era. Author Thomas Friedman argues that the "Web" has replaced the "Wall" as the symbol of the era.
What is globalization? Simply put, this is the increasing integration of the world through the forces of global trade, business, and finance.
Thomas Friedman's book, The Lexus and the Olive Tree: Understanding Globalization, has become the most widely-cited book on the topic. (Yes, his recent work, The World is Flat is also being widely cited... You 21st Century folks will know what I'm talking about.) He has a number of very useful metaphors and explanations. You'll be asked to read one of the chapters for Tuesday.
A couple of Friedman's ideas:
The Title: The "Lexus" represents the forces of modernity and technology. It is the "drive for sustenance, improvement, prosperity, and modernization." The "Olive Tree" represents "everything that roots us, anchors us, identifies us, and locates us in the world... a family, community, tribe, nation, religion, or home."
There are three balances in the global system:
* Balance between nation-states: The United States has clearly emerged as the sole superpower.
* Balance between nations-states and global markets: Friedman calls the global market of investors the "Electronic Herd". They trade in the global financial centers he calls "Supermarkets".
* Balance between individuals and nation-states: The emergence of people that he calls "Super-empowered Individuals" is a new factor to consider. Some are very angry, others are wonderful.
The "Walls" come down... Friedman argues that the Cold War era gave way to the era of globalization as a result of three fundamental changes.
* Democratization of Technology: caused by advances in miniturization, computerization, digitization, etc. (Computer power has doubled roughly every eighteen months over the past thirty years.)
* Democratization of Finance: caused by computerization, investment technologies, access to financial markets, etc.
* Democratization of Information: spread through things like the Internet, satellite dishes, and television
Globalization Forum: Tomorrow, we will come together for the Fourth Annual Mounds Park Academy Globalization Forum. Each of you will represent a different interest.
* You are allowed (within limits) to select your role for this forum. I do need certain perspectives represented, but you can take creative liberties within those limits.
We will need:
7 American representatives: 1 from government, 1 from "big" business, 1 consumer, 1 environmental activist, 1 worker whose job has been "outsourced", political candidate, Thomas Friedman
3 Europeans: 1 owner of a multinational corporation, 1 worker "displaced" by foreign competition, 1 wealthy investor
3 Africans: 1 resident of a resource-rich country, 1 person existing on less than $1 a day, leader of poor nation that exports coffee
6 Asians: 1 "sweatshop" laborer, 1 high-tech manufacturer, 1 peasant, 1 Chinese governmental official, 1 Indian service-industry worker, 1 recent migrant to Shanghai from Chinese countryside
3 Latin Americans: 1 manager of a foreign-owned factory, 1 manual laborer, 1 illegal immigrant to United States
3 Middle Easterners: 1 leader of oil-rich nation, 1 young woman, 1 Islamic fundamentalist
REQUIREMENTS FOR TOMORROW:
Obviously, you will need to "create" much of your own detail. Think about how your life has changed over the past decade. What are the advantages/ drawbacks of globalization in your world? What will the future hold?
* You will be expected to provide an introductory statement of not less than ninety seconds. In this statement, you will tell other participants of your "situation," and you will offer your preliminary comments on events associated with globalization.
* You will post on the Globalization Forum Blog Entry. Here, you are limited to 150 words maximum. You should use the blog entry to advocate for any causes, aspects of globalization, etc. that would be of the most benefit to your character. This is your chance to rant against your enemies, blow your own horn, or do a combination of these. You, of course, are bound by the need to not be obscence and totally inappropriate, but think of this as your billboard, letter to the editor, protest sign, bragging sheet, or whatever it is. Be creative, be outspoken, but also be appropriate...
* Do whatever research in class that might help you create your "perspective" and better understand the issue of globalization.
Here are some resources that you might consult:
The Lexus and the Olive Tree There are some excerpts and reviews here that you might find interesting.
Globalization: Threat or Opportunity? This is an IMF report addresses many of the central issues in globalization.
The International Forum on Globalization This is the site of a group critical of many of the effects of globalization.
The World is Flat: A Brief History of the Twenty-First Century This is a talk by Thomas Friedman about his most recent book.
Globalization and Its Discontents - Joseph Stiglitz (He won a Nobel Prize for Economics...)
]]>REMINDER: In order to receive credit, these comments need to be posted by class time on Wednesday. Remember that this is a public site, and you are responsible for the content of your postings.
At this time, you are supposed to have read Chapter 9, “Keeping Score.” You should post a response of at least one good paragraph to one or more of these questions. (You can also react to other posts.)
1. After you finishing reading the joke on page 149 you tell yourself, “I can be funnier than that.” Here’s your chance. Write an anecdote, story, joke that makes a commentary about our current economy. Keep it clean, and no stealing someone else’s material…
2. After reading about the Gross Domestic Product, assess its usefulness as a measure of economic progress. Is there another measure you think we should use?
3. During the Great Depression, FDR once said that we have “nothing to fear but fear itself.” (page 157) Is that good economic advice for today? Explain why or why not using a specific example or examples.
4. We’ve spent time talking about both monetary and fiscal policy. (pp. 159-160) Assume that an economic recession is on the horizon. Which of these tools, or what combination, would you want government to use?
We'll chat about Chapter 9 from Naked Economics Monday. Let's make that blog entry (posted above) due next Wednesday. I'm thinking Chapter 11 should be read for Tuesday, and that will be the final required blog from the text. I'll make Chapter 12 a "make-up" or bonus blog entry...
Have a good weekend.
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