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Overview
As AP Economics students enter my classroom each semester, I am concerned at their lack of knowledge about the world beyond their immediate environment. Since our high school is a consolidated county school, with a lower than average income base, many of the students have not had the opportunity to be involved in experiences that expand their global awareness. Many rarely read the newspaper or watch the evening news. In view of this, I assign an ongoing daily activity to my class to encourage their use of the media surrounding them. In the following lesson, I will describe an easy-to-implement, bellringer assignment that has proven successful in my classroom. It is adaptable for lessons in both microeconomics and macroeconomics, and it encourages students to be current in their research.
Instructional Plan
- During the first week of class, I distribute a calendar for the month. On the calendar I have written each student’s name—assigning each one a different date—for the days when we are in school. I repeat the process for each successive month, distributing the calendars a few days before the beginning of the new month so the students are aware of when their assignment is due.
- Each student is responsible for bringing in a news story that pertains to economics on the assigned date. The student may use a local newspaper, an online news agency, or the evening news as a source. The story does not need to be on the current topic of discussion, but it should include information that is appropriate to the class. To increase the emphasis on global awareness, the lesson may be modified to include at least one story a week dealing with an international issue.
- On the day when a student’s story is due, that student is required to be in class as early as possible and write a summary of the story on the board. This should not be lengthy, but should sum up the main points of the article. While I take attendance and conduct general “beginning of class” duties, the other students copy the story into a journal.
- The journal is simply sheets of paper, each side divided into five sections with the heading, “The week of______________,” which I have copied from my lesson plan book. Both sides of the paper are used so there is enough room for two weeks’ worth of stories on one sheet of paper. The students file the papers into a three-ring notebook.
- Once the story is on the board and copied, we briefly discuss the topic. The discussion questions relate to material that has been or will be studied during the course. Often, the stories include information that may be explained using graphical analysis.
- If the student has successfully researched and presented the information, he or she receives an A for the assignment. As an AP teacher, I am aware that many of my students experience test anxiety, so I appreciate the fact that this activity provides an alternative method of assessment.
- When students scheduled to present are absent, they are expected to complete the assignment on the first day back to class. Also, students must keep their journals current. In the event of absence, it is their responsibility to obtain the story from a classmate.
- Periodically, without prior announcement, I ask that students turn in a particular week of their journal. This promotes writing in the journal on a daily basis.
- The activity usually takes no more than five to seven minutes of class time.
Examples of recent stories and questions as they relate to globalization:
- On April 12, 2007: “China has surpassed the United States as the world’s largest exporter. Its exports boomed 27 percent last year, outpacing all other trading nations.”
Examples of discussion questions:
- What are reasons for the increase in exports from China?
- What types of products are being exported? Absolute and comparative advantage may be included in the discussion.
- If supply and demand have already been studied, use a graph of the currency market and indicate, in theory, what should happen to the value of Chinese currency. Since the value of the yuan is also influenced by Chinese policy, this may also be introduced in the discussion.
- When U.S. consumers purchase Chinese products, is this a part of the current account or the financial account (also known as the capital account)?
- On April 26, 2007: “During the first three months of the year, Toyota overtook General Motors as the world’s top automaker.”
Examples of discussion questions:
- What determinants of demand have affected the market for Toyotas?
- What determinants of supply have affected the market for Toyotas?
- How do you predict General Motors will respond to the increased competition?
- Why does Toyota produce automobiles both in Japan and in the United States?
- On May 2, 2007: “Soaring trade deficits have increased political pressure on Congress and the Bush administration to create trade barriers against a flood of imports. However, Federal Reserve Chairman Ben Bernanke warns that the benefits would be outweighed ‘many times over by the costs, which would include higher prices for consumers and increased costs, and thus reduced competitiveness, for U.S. firms.’”
Examples of discussion questions:
- What types of trade barriers can be instituted against imports?
- Why would prices change for consumers and costs increase for producers?
- Using supply and demand analysis, what would be the effect of a tariff on the equilibrium price/quantity of a good?
- How would competitiveness be reduced for U.S. firms?
Summary
In conclusion, even though the assignment given in my class did not emphasize globalization, several of the students’ stories, as shown above, did relate to that topic. The discussions that followed exhibited the link between the economic theories and the real-world examples. Upon completion of the class, students had an increased awareness of the role of economic decision making.
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