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4. Ask students what they think would happen if the money they had suddenly lost 50% of its value.

5. Explain that for number of reasons, the currencies (money) of many Asian countries had a serious decline in value.  What affect do you think this had on the people in these countries?  What affect could this have on you (the students)?

6. Have students read a news article on world trade and its link to Carroll County farmers {go to the Course Documents at the CourseInfo page} and answer the following questions (students could also work in a jigsaw cooperative activity where each member of the group has a different article he/she is responsible for, and must explain to the rest of the group members):

     A. What product(s) were being traded between the United States and Asia?

     B.  Due to the lower value of Asian currencies:
          -What was the affect on US producers and consumers of goods and services?
          -What was the affect on Asian producers and consumers of goods and services?
          -What alternatives were available to US producers and consumers if they were
            impacted by the Asian economic crisis?

  News Article Debrief Sheet

The United States Produces and Exports

Asia Imports and Consumes

Impact of Economic Crisis on Producers and Exporters in the U.S.

Impact of Economic Crisis on Consumers and Importers in Asia

Actions Taken by Consumers and Importers in Asia in Reaction to the Crisis

Actions Taken by Producers and Exporters in the U.S. in Reaction to the Crisis

7. Ask students, again, how the Asian crisis might have affected their lives?

8. Display the definition of ?interdependence?: (INTERDEPENDENCE MEANS THAT EVENTS IN ONE PART OF THE WORLD AFFECT EVENTS IN OTHER PARTS OF THE WORLD).  Have students discuss how the articles they read demonstrate the concept of interdependence.  Have them cite examples of events in Asia affecting events in ?other parts of the world?.

9. As an assessment, students will survey their school/community to discover whether individuals in their community could be directly affected by an Asian economic downturn.  Lists of products that are traded with Asian countries should be generated.  Students will then produce their own news articles based on the results of their findings.  The article should demonstrate an understanding of the concepts import, export, trade balance, and interdependence.

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