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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