Economics – 1/09/13

I.  Bellwork

Identify whether you are a proponent of free trade or a protectionist.  Argue your stance with support and examples. – 1 paragraph

II. Objective

• Assess the impact of trade policies on domestic activity and world trade.

III.  Notebook – Identify the Arguments behind Trade Restrictions -Thinking Map

IV.  Finishing 16-2 Trade Restrictions Discussion

•  Types of trade restrictions?
•  GATT & WTO

V.  Classwork

A.  China is to enforce duties

1. What are some of the underlying reasons behind the tariff on U.S. chickens?
2. How has the Chinese poultry industry been impacted by U.S. imports?
3. What type of tariffs will the U.S. chicken companies be forced to pay?
4. Why is the U.S. concerned about China’s currency?
5. What do you believe will be the future consequences with trade between with these countries?

B.  World trade talks collapse-Q&A

1)    What forms of protectionism are used in the cotton industry?

2)    Who loses from this protectionism and in what way do they lose?

3)    Who would gain if there was free trade in cotton?

4)    Given these advantages of greater globalization, why do the protectionist measures remain?

C.  P. 454 2-9 Q&A

VI.  Chapter 16 Test on Friday – Chapter-16-Review

Economics F2012