The Economy of South and East Asia

1. 7th grade Social Studies The Economy of South and East Asia

2. Essential Question • How does understanding key economic terms aid in my understanding of the economic structures found in South and East Asia?

3. Know, What, Learned • Draw KWL chart as shown here. • Write what you already know about the vocabulary terms. • Share with the class.

4. Economic Terms • What is a halt to trade with a particular country for economic or political reasons? • Embargo • Economic _____ makes trade between countries easier because countries can produce those things they make best and trade with others for what they need. • Specialization • Skills and education the workers have is called _____ _____. • Human capital

5. Economic Terms, cont’d. • When a tax is placed on a good coming into one country from another is a _____. • Tariff • _____ _____ are factories and machines used to make goods. • Capital goods

6. “Pennies a Day” • Answer the questions provided as you watch the video. (On Your Own Paper!!!) • Music video—list as many similarities to video as possible on the same paper.

7. Exit Slip • Review the economic terms presented in the KWL activity. • From the list of vocabulary terms, choose the one vocabulary term that best relates to the topic presented in today’s videos. • Complete an Exit Slip that answers the following question and includes the selected vocabulary term: • How does today’s lesson relate to the key economic terms needed to better understand the economic structures of South and East Asia countries?

8. Review… How many of these economic terms can you define?

9. Essential Question • What characteristics help me to identify the economic structures of China and Japan? SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

10. Essential Vocabulary • Command Economy: • In a command economy, government planners make the economic decisions. • Market Economy: • Consumers and their buying decisions make up a market economy. • Traditional Economy: • In a traditional economy, economic decisions are made through customs and habits.

11. China’s Economy • The economy of China can be best described as a command economy. • In the years after the communist revolution, the Chinese government organized farmers into collective farmers. • The purpose of China creating Special Economic Zones was to increase international trade. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

12. China’s Economy • Today at least half of China’s workers are still involved in agriculture. • China’s attitude toward entrepreneurship has changed in the past several decades. • The government has become more open to the idea of allowing free enterprise. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

13. Japan’s Economy • The economy of Japan can be best described as a mixed economy. • Japan’s economy could be classified as one of the most technologically advanced in the world. • The Japanese economy has to make up for the country’s lack of natural resources. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

14. Japan’s Economy • The job of the Ministry of International Trade and Industry (The MITI) is helping countries to decide what to sell in the global market. • Education is one of the most important ways Japan has invested in human capital. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

15. Vocabulary Flash Cards • Using cards provided, create flash cards to use as a study guide for quiz on Wednesday. • embargo • tariff • specialization • capital goods • human capital • command • market

16. If you had to choose… • If you had to choose between the economy of China and the economy of Japan, which would you choose? • China (lay your head down) • Japan (sit up straight) • Why? SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

17. Review… • What is the economy of China? • It is best described as a command economy. • After the communist revolution, what did the Chinese government do? • They organized farmers into collective farmers. • Why did China create the Special Economic Zones? • To increase international trade

18. Review… • What are at least half of China’s workers still involved in today? • agriculture • What is China’s attitude towards entrepreneurship? • The government has become more open to the idea. • What is the economy of Japan? • mixed • How could we classify Japan’s economy? • One of the most technologically advanced in the world

19. Review… • What does the Japanese economy have to make up for? • Lack of natural resources • What is the job of the Ministry of International Trade and Industry (MITI)? • Helping countries to decide what to sell in the global market • What is one of the most important ways Japan has invested in human capital? • Education

20. Essential Question • How do the economies of India and North Korea compare to that of Japan and China? SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

21. India’s Economy • The economy of India can be best described as a mixed economy. • One of the most successful part of India’s economy today is electronics and technology. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

22. India’s Economy • The Green Revolution was India’s attempt to improve agriculture. • The Green Revolution is an example of investment in human capital in India because farmers were given training and new technology. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

23. India’s Economy • Rural village men and women who wish to set up small businesses to help their families have benefitted from the micro credit industry in India. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

24. North Korea’s Economy • The economy of North Korea could be best described as a command economy. • Poor decisions made about how to organize farming in North Korea have resulted in many years of starvation. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

25. North Korea’s Economy • Most major economic decisions in North Korea are made by Kim Jong-il. • Premier Kim Jong-il has spent a great deal of North Korea’s money on military. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

26. Comparing & Contrasting • Draw the chart as you see it below. • Answer the questions listed in the first column. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

27. Comparing & Contrasting • Draw the chart as you see it below. • Answer the questions listed in the first column. SS7E8c: The student will analyze different economic systems in China, India, Japan, and North Korea.

28. Essential Question • What is the impact of the economy on South and East Asia?

29. Vocabulary Fun… • Vocabulary Graffiti Cards • Each student has been assigned a vocabulary term • Define the word • Decorate the entire card • Give 2 relevant facts • How does the vocabulary word relate to at least one of the countries studied this week? • Share with the class.

30. What do you know?? • Study Guide Time • Work in your groups • Ask questions as needed • Be respectful of those who may not know the answers • No one is PERFECT!! • Your test is MONDAY!