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Wisconsin Economic Standard D.12.3 Specialization & Trade

Analyze and evaluate the role of Wisconsin and the United States in the world economy

Economic Concepts
Exports  ||  Imports  ||  Comparative advantage  ||  Trade

Links to Content Information

	1999 Country Reports on Economic Policy and Trade - These reports, developed by the U.S. Department of State for Congress, provide information on 77 countries with which America trades. The reports contain Key Economic Indicators and other information important for business and setting economic policy.
	E-Conflict World Encyclopedia - For countries of the world countries, includes sections on economy, defense, geography, government, history, people, and national anthems.
	Economic Analysis of International Trade: Comparative Advantage - Ricardo's Classical View
	Economic Statistics Briefing Room: The White House - This service provides easy access to current Federal economic indicators. It provides links to information produced by a number of Federal agencies.
	Economic Statistics Briefing Room - Statistical tables on the U.S. in the international economy.
	FedStats - More than 70 agencies in the United States Federal Government produce statistics of interest to the public. The Federal Interagency Council on Statistical Policy maintains this site to provide easy access to the full range of statistics and information produced by these agencies for public use.  See especially section on Regional Statistics.
	Infonation - An easy-to-use, two-step database that allows you to view and compare the most up-to-date statistical data for the Member States of the United Nations.
	International Trade - Chapter 19 from Essential Principles of Economics: A Hypermedia Text, First Revised Draft
	U.S. International Trade in Goods and Services, from the U.S. Census Bureau - This page links to exhibits showing the amount of goods and services in foreign trade by several categories.
	United States International Trade Commission - The USITC is an independent, quasi-judicial federal agency that provides objective trade expertise to both the legislative and executive branches of government, determines the impact of imports on U.S. industries, and directs actions against certain unfair trade practices, such as patent, trademark, and copyright infringement
	U.S. Department of Commerce - The Department of Commerce promotes job creation, economic growth, sustainable development and improved living standards for all Americans by working in partnership with business, universities, communities and workers.
	Wisconsin Agricultural Statistics Publications - From the U.S. Department of Agriculture National Agricultural Statistics Service.
	Wisconsin Budget Information - For information on the Wisconsin budget, look under the heading Financial Disclosure.
	Wisconsin by Business Categories - Links to data about Gross State Product, Venture Capital, etc.
	Wisconsin Department of Commerce: International Trade - The mission of the Department of Commerce's international services is to help Wisconsin companies sell products and services around the world. We work with business people from other countries to identify suppliers of quality products or investment opportunities in Wisconsin.
	Wisconsin Export Data
	World Trade Organization - The WTO is the only international body dealing with the rules of trade between nations. At its heart are the WTO agreements, the legal ground-rules for international commerce and for trade policy.

Links to Lesson Plans and other Suggested Teaching Strategies

	Economics and History - Students will investigate the pros and cons of international trade and examine how trade affects specific groups within our economy and several aspects of what prompts nations to enter into trade agreements or leads them down the road of protectionism. Uses the booklet "A World of Choices: Are We Better Off with International Trade?"
	Places and production - Middle and High School level.  Students calculate the US GDP and various examples from South America. Using this information, they make inferences about per-capita income. From Focus on Economics: Geography, �National Council on Economic Education.
	Strong Dollar/Weak Dollar - (.pdf file)   Examines how the U.S. dollars value relates to other countries currencies and how changes in its value affect foreign trade and the U. S. economy. Accompanies student booklet available online or in print.
	Why Nations Trade - Middle and High School level.  After discussing the concept of comparative advantage, students in small groups engage in a simulation on the economic costs and benefits of trade. From Focus on Economics: Geography, �National Council on Economic Education.
	Other Web Sites - This page lists web sites offering a wealth of lesson plans for teaching economics, in addition to these lesson plans.

List of Curricular Materials and Learning Activities

	Focus on Economics: Civics and Government, from Economics America (search catalogue), available from Economics Wisconsin.  Unit 4, Lesson 15: Why Would Governments Limit International Trade? - After examining three types of barriers erected by governments to restrict imports of foreign-made products, students debate the pros and cons of imposing barriers. pp. 85-93
	United States History: Eyes on the Economy, Vol. 1 and Vol. 2, from Economics America (search catalogue), available from Economics Wisconsin. Unit 1, Lesson 2: The United States and the Global Economy - Students discuss an economic mystery about  fur trading and whaling to learn why people trade. pp. 10-16
	Focus: International Economics, from Economics America (search catalogue), available from Economics Wisconsin. Lesson 7:  World Trade - Students observe the patterns and direction of trade.  These observations allow them to understand some of the forces that give rise to international trade.  p.51

National Content Standards 5 and 6: 

Scroll down the linked pages to locate the grade 12 benchmarks. 

Email an expert

Professor Larry Weiser, University of Wisconsin-Stevens Point