Unit 4-Boom and Bust: American Economics



Enduring Understandings:

1. Pursuit of economic opportunity leads to population shifts forcing confrontation and change within established cultures.

2. Technological innovations promote industrial growth, which includes both costs and benefits.

3. Superficial prosperity of the 1920’s leads to an economic depression in the 1930’s.

4. Poor economic conditions negatively impact all aspects of life.

5. Economic troubles can be remedied in a variety of different ways.

6. The modern international nature of business regulation impacts the national economy

7. Circumstances present during the Great Depression greatly influenced the government policies present in our modern government.

Unit Objectives:

1. Describe how mining contributed to the development of the west.

2. Summarize the role that the “robber barons” played in the industrialization of the United States.

3. Compare the methods used by Carnegie and Rockefeller to succeed in business. Defend which method you believe would be most useful in building up a business while remaining ethical.

4. Identify the factors that led to the rise of unions in the late 1800’s.

5. Conclude how the Framer’s Alliance led to the creation of a new political party.

6. Describe how the availability of credit changed society in the 1920’s.

7. List the major causes of the Great Depression. Outline how each cause led directly to economic crisis in the 1930’s.

8. Assess which two programs/actions you believe were Franklin Roosevelt’s most helpful for the American people during the Great Depression, and defend your answer.

9. Summarize what the legacy of the New Deal was. How was this series of programs seen by the people?

10. Summarize how Ronald Reagan impacted the economy of the United States.

11. Debate one side of the following statement using three pieces of evidence to support your position: “The United States benefits greatly from being part of the global economy”.

Vocabulary:

Boomtowns

Open Range

Long drive

Homestead Act

Bonanza Farms

Gross National Product

Laissez-Faire

Entrepreneurs

Pacific Railway Act

Robber Barons

Corporation

Stock

Pools

Andrew Carnegie

Vertical Integration

Horizontal Integration

John D. Rockefeller

Monopoly

Trust

Holding Company

Industrial Unions

Blacklist & Lockouts

Knights of Labor

American Federation of Labor

Populism

Greenbacks

Farmer’s Alliance

People’s Party

William Jennings Bryan

Federal Trade Commission

Clayton Antitrust Act

Mass Production

Stock Market & Bull Market

Margin

Speculation

Black Tuesday

Hawley-Smoot Tariff

Dust Bowl

Public Works

Relief

“Bonus Army”

New Deal

Bank Holidays

Hundred Days

“Fireside Chats”

Agricultural Adjustment Association

Civilian Conservation Corps

Deficit Spending

Works Progress Administration

Social Security Act

Court-Packing

Organization of Petroleum Exporting- Countries

“Stagflation”

Supply-side economics

Reaganomics

Budget Deficit

North American Free Trade- Agreement

World Trade Organization

The American Recovery and- Reinvestment Act

4.1-Mining and Ranching

4.2-Farming the Plains

5.1-Industrialization

5.2-Railroads

5.3-Big Business Rises

5.4-Unions

6.2-Urbanization (pg. 222-226)

6.4-Populism

8.3Wilson Reforms Business

10.2-1920’s Boom

11.1-Causes of the Great Depression

11.2-Life During the Great Depression

11.3-Hoover and the Great Depression

12.1-First New Deal

12.2-Second New Deal

12.3-New Deal Coalition (pg. 444-445)

21.3-Economics of the 1970’s

22.2-Reaganomics

23.4-Global Economics (pg. 794-796)

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