Semester Exam

Monday June 13, 2011 – Period 1
Tuesday June 14, 2011 – Period 2
Wednesday June 15, 2011 – Periods 5 & 7

Good Luck on your exams.
Thank you and it has been a pleasure having you in class this year.

Aloha & Mahalo,

 Mr. T

Semester Review

Thursday June 9, 2011 – Periods 1, 5, 7
Friday June 10, 2011 – Period 2

We did a quick review for our semester exam next week. We also announced the team standings for our international economic summit simulation.

Congratulations to our top 10 teams:
1. Ukraine
2. Czech Republic
3. Laos
4. South Korea
5. Costa Rica
6. New Zealand & Singapore
7. Lithuania
8. Thailand & Malaysia
9. Austrai, Bulgaria, & Paraguay
10 Senegal, Ecuador, & Luxembourg

Finally, we watched a video looking at the social and political challenges faced by Pakistan. In the video, Sharmeen Obaid investigates the rising popularity of a new Pakistani branch of the Taliban, threatening major cities, blowing up girls’ schools and declaring war on Pakistan.

Globalization

Wednesday June 8, 2011 – Period 2

Today we worked on an Investing packet. We learned how compound interest makes savings grow. Compounding provides an incentive to save and invest early. The benefits of saving and investing when you are young can increase substantially over time when funds are allowed to compound. Risk is inherent in making investments. Some risks are ones investors cannot control while other risks can be managed. The key is to develop an investment plan with which you are comfortable. Remember, the greater the risk, the higher the potential reward. Investors who choose low risk may earn meager returns. Investors who seek higher returns through high-risk investments may suffer big losses.

For the last half of class we watched the “Profits of Doom.” The video examined Ghana’s experience with globalization and the impact that International Monetary Fund and World Bank policies has on the country. Ghana was once hailed by the World Bank as a showcase for its policies. After two decades of financial discipline, the majority of Ghana’s population are worse off than before.

Saving and Investing

Monday June 6, 2011 – Period 2
Tuesday June 7, 2011 – Periods 1, 5, 7

Today marks the last day for our portfolios. I hope that following the market for the past six months has taught you something about investing. Judging from our benchmarks, the stock market would have been a poor choice to invest most of your money. The bond market returned the best value for our investment. This has not always been the case in past classes. The results for this year serves as a reminder to keep a diversified investment plan to balance any fluctuations or swings in your investment plans.

International Economic Organizations

Thursday June 2, 2011 – Period 2
Friday June 3 – Periods 1, 5, 7

Today our country advisor groups completed the IES flag and trade quiz.

After our quizzes, we took notes on the three major international economic institutions involved with globalization. Economic development is the process by which nations increase their economic output and improve their citizens’ lives. For many  developing countries, globalization has been the key to economic development. However, some of the world’s less developed countries have failed to experience such gains.

International organizations, such as the World Trade Organization (WTO), United Nations (UN), World Bank, and International Monetary Fund (IMF) play key roles in globalization. The United Nations uses the Human Development Index (HDI) to measure a country’s development level based on life expectancy, education, and standard of living. The WTO and World Bank classify nations into three categories based on economic indicators, including GDP: developed countries, developing countries, and least developed countries. The United Nations uses the Human Development Index (HDI) to measure a country’s development level based on life expectancy, education, and standard of living.

One controversial issue the IMF addresses is the high level of foreign debt held by developing countries. Some experts advocate a policy of debt forgiveness to cancel loans and allow developing countries to escape the debt cycle.

Globalization is often accused of spreading of American customs and cultures to other countries. Critics fear that the flood of Western products and ideas may crowd out local traditions and hasten the extinction of many world languages. Globalization has the potential to enrich cultures by introducing new ideas, technologies, foods, and arts. Multinational corporations often adapt their products and business practices to conform to local traditions.

Despite an overall worldwide decrease in poverty, about one-sixth of the world’s population lives in extreme poverty, defined as living on less than $1.25 per day.