NOBEL CONFERENCE ¨ XXXVI
Economic Prospects & Challenges October 3 & 4
Gustavus Adolphus College Saint Peter, Minnesota
An Opportunity to Comp l ete E CO NOMIC SYSTEMS GRA DUATION STA N DA R D
Wh e t her economics instr uction invol ves basic or advan c e d economic principles, Nobel Co n f er ence 2000 will provide a wor thwhile learning exp e r ience for students and tea c he r s . Add i t i o n a l l y, co nfer en c e - r el a t ed act ivities offer students an op p o r tunity to compl e t e the Economic Systems gra d u a t i o n stan d a r d. Sugges ted ideas are described brie f ly in thi s br oc hu r e. This is not a “one-size-fits-all” pres c r ip tion, and tea c her adaptation is not only assumed but exp e c t ed as tea c he r s tak e ownership and make the necessary adjustments to fit the needs of their stu d e n t s .
NOBEL Telephone 507/933-7520 CONFERENCE E-mail [email protected] About Nobel Conference
The closing decades of the twen t i e t h century brought momentous and surpr ising cha n g es to the wor ld ’ s economic and political landscape. The sudden but quiet collapse of the Soviet U nion spelled the apparent demise of an alter na t i v e to mar ket capitalism that seemed to some for a time to promise a superior system, and for even longer at least a workable one. This event coincided with and encouraged a major change in thinking around the world concerning models for economic development. And in the world’s developed nations, there has been heightened commitment to and movement toward greater economic integration and free trade. These events taken together amount to much of what has come to be called “globalization.” A world of in c r ea s i n g ly inter dependent and highly compe t i t i v e global capitalism seems upon us. Power ful economic insti t u t i o n s , such as The World Bank and the International Monetary Fund, have been active in policy formulation and as s i s tance in this transition. Gover nments in the Americas, Europe, and Asia have undertak en ver y prof ound initiatives towar d economic integration and much freer trade. And the “Asian model” of export-driven de velopment has become the most widely accepted vision of a path to successful development. All of this has not occurred wit hout cost or controversy, as recent events in Seattle and Washington, DC, attest. Co n c e r ns for the envi r onment, for economic eq ui t y , for economic and cultural diver s i t y have been voiced, often wit h force and passion. There is much concern and confusion about just what this new “global” era will mean. Even among those who greet this transition with optimism and enthusiasm, there is debate about important practical questions of implementation s trategy. A panel of extraordinarily diverse views and unsurpassed experience and expertise will examine these issues at Nobel Conference¨ XXXVI, a conference which promises to be one of the most important examinations of the nature and consequences of “globalization” to have yet occurred. David Reese Associate Professor of Economics and Management Chair, Nobel Conference¨ XXXVI Nobel Conference Participants
Robert A. Mundell, 1999 Alfred Nobel Memorial Pr ize Joseph E. Stiglitz, The Brookings Institution, Washington, DC in Economic Sciences, Columbia University (former chief economist with The World Bank) Does A Global Economy Need A Global Currency? Lecture topic to be announced.
Jagdish N. Bhagwati, Columbia University Globalization and Appropriate Governance Jeffr ey D. Sachs, Harvard University New Approaches to Helping the Poorest of the Poor in the Global Economy
Michael Sohlman, Executive Director, John B. Cobb Jr., Center for Process Studies, The Nobel Foundation, Stockholm, Sweden Claremont, California Globalization ÐÐ Some Reflections of A Practitioner The Stake of Christian Theology in Economic Globalization
Amitai Etzioni, George Washington University, Washington, DC The Future of the Global Community Teacher and Student Participation
To be sure students understand the issues addressed at Nobel Conference 2000, a certain amount of learni n g should tak e place prior to or fol l o wing the confer ence. Ideally, students will have been introduced to top i c s li k e ab s o l u t e a dvan t ag e, compa r at i v e a dvan t ag e, ba r rie r s to tra de, benefits to trade, inter national a spect of growt h and stab i l i t y , exchange rates and the balance of payments before the conf erence. Ho wever , the confer en c e can serve to introduce these topics wit h tea c hers expanding upon t hem later . This is an excellent opportunity to bring economic theory alive for students.
Materials authored by Paul Peterson, economics teacher St. Peter High School, St. Peter, Minnesota
Preparation for Nobel Conference
Students should visit the Nobel Conference Web site
European Union europa.eu.net International Monetary Fund www.imf.org Organization for Economic Cooperation/Development www.oecd.org United Nations www.un.org The World Bank www.worldbank.org World Trade Organization www.wto.org EconomicsAmerica* www.economicsamerica.org * Site provides numerous on-line lessons related to Nobel Conference¨ XXXVI.
At Nobel Conference
Students can maintain a conference journal containing lecture information, reflections, questions and comments for subsequent classroom panel discussions. Completed journals can satisfy co m ponents of the graduation stan d a r d (see Stu d e n t Per for mance #1). Students can crea t e and defend a position paper exam i n i n g various components of globalization with specific examples and analyses from the conference. This activity can satisfy components of the graduation stan d a r d (see Stu d e n t Per for mance #4). Economics Graduation Standard Specifications and Student Performances
Standard Specifications Student Performance #2
Content Standard Economic systems Globalization at Nobel Conference Learning Area Business and economics Students seek information about Nobel Conference topics Education Level High school through an on-line scavenger hunt. Teachers provide pertinent topics to investigate along with applicable Web addresses. Using fundamental concepts of economics, a student shall Students present their f indings in a large-group setting and demonstrate understanding of the interactive nature of global, develop questions to be answered during the Nobel national, and local economic systems, how gover nment decisions Conference. Student performance can satisfy C and D of the Economic Systems graduation standard. im pact those systems, and how individuals, households, businesses, and governments use scarce resources to satisfy unlimit ed wants Evidence of student learning and needs by: Notes Questions A. Analyzing a public issue in terms of production, distri- bution and consumption. Notes/Questions Checklist _____ Notes contain detailed descriptions of economic topics. B. Analyzing how change in the economy affects individu- _____ Notes directly relate to globalization. als, households, businesses, government, and the _____ Notes thoroughly examine the relationship of environment. environmental, g lobal, and domestic concerns. C. Explaining how lack of productive resour ces impacts _____ Questions reflect understanding of global and decisions concerning production and distribution of domestic t opics presented at the Nobel Conference. goods and services. Student Performance #3 D. Examining how domestic and global economic systems interact. Nobel Conference Reading Review E. Co m pa r ing rules and proc e d u r es of differ ent economic Students read three published works by Nobel presenters or sy stem s by examining the effect on supply, demand, other appropriate sources and create a short role-play interview in which one student is an economics reporter, and another is ca p i t al, prices, roles of institutions, and natural res o u r ce s . the author of the reading. Interviews include the subs tance of the articles and the authors’ opinion on globalization. Based Student Performance #1 on the role-play interview, students write br ief summaries. Student perfor mance can satisfy D of the Economic Systems Nobel Conference — Issues and Analysis graduation standard. Students choose one of the economic issues recorded in their conference journal, analyze information regarding the issue, Evidence of student learning and for m a panel with other students to present the infor ma t i o n Role-play interview to the class. All students keep a panel log on all economic Written summaries issues presented. Students then compare and contrast the issues Role-Play Interview Checklist and summarize their relationship. Student perfor mance can _____ Reporter identifies domestic and global economic issues sa t i s f y B and D of the Economic Systems graduation stan- from the articles. dard. _____ Reporter’s questions reflect clear understanding of Evidence of student learning globalization issues. Nobel Conference journal _____ Author explains the domestic and global economic Panel preparation notes and presentation concepts addressed in the articles. Panel log _____ Author articulates the opinions/biases from the articles. Comparison/Contrast summary Written Summaries Checklist Nobel Conference Journal Checklist _____ Summaries cite specific evidence of global and domestic _____ Information is relevant to how economic changes affect issues from the articles. people, households, businesses, governments and the _____ Summaries analyze the relationships between global and environment. domestic issues. _____ Information collected directly relates to globalization. Student Performance #4 Panel Prepar ation Notes and Presentation Checklist _____ Information is relevant to issue and its effect on people, Globalization Position Paper households, businesses and/or government. Students prepare a position paper at the conclusion of the _____ Notes from Nobel Conference include specif ic evidence Nobel Confer ence synthesizing the infor mation the y have about the interaction of domestic and global economic co l l e c t ed at the conference (and through other research) with systems. their personal views on globalization. Student perfor mance can satisfy A, D and E of the Economic Systems grad u a t i o n Panel Log Checklist stan d a r d. _____ Information is relevant to issues presented and their Evidence of student learning effect on people, households, businesses, government Position paper and the environment. Position Paper Checklist Comparison/Contrast Summary Checklist _____ A relevant public issue is analyzed in terms of _____ Similarities and differences of economic issues are clearly production, distribution and consumption. identified. _____ Final synthesis takes a specific stand on globalization. _____ Paper states how the issue affects individuals and the welfare of society. _____ Paper analyzes t he merits and weaknesses of globalization compared to other economic systems. _____ Paper is factual and supported by research.