WH II Honors: HW for Next Week, Monday-Friday
Monday: p. 554, Preview Questions, #1-2
Finish the sentences:
Last week, what I liked least about the class was . . .
Last week, what I liked most about the class was . . .
Tuesday: p. 555, Picturing History
Reading Check
Explaining
Why was the radio an important propaganda tool for the Nazis?
Reading Check
Examining
How did the "Strength through Joy" program help to support the Nazi regime?
Wednesday: p. 556, History Through Art
Reading Check
Examining
Why were artists and writers after World War I attracted to Freud's theory of the unconscious?
Thursday: p. 557
Reading Check
Explaining
How did Heisenberg's uncertainty principle challenge the Newtonian worldview?
Section 4 Assessment, #4
Friday: p. 557, #5-6.
G. Mick Smith, PhD, Senior Educational Technology Executive: https://www.linkedin.com/in/gmicksmith/
Thursday, April 22, 2010
WH II Honors: 23 April 2010
Prayer
Current Events:
Chapter 17 The West Between the Wars 1919-1939
What were people listening to? They listened to a uniquely American form of music: jazz.
In the 1920s, many radios tuned into the new sounds of jazz. In fact, the 1920s are often called the Jazz Age. African American musicians combined Western harmonies with African rhythms to create jazz. Jazz musicians like trumpeter Louis Armstrong and pianist Duke Ellington, took simple melodies and improvised endless subtle variations in rhythm and beat. They produced original music, and people loved it. Much of today’s popular music has been influenced by jazz.
Louis's Music Class
1. Louis Armstrong - West End Blues 1928, 3:20
2. Louis Armstrong & His Hot Seven - Potato Head Blues (1927), 3:10
With the addition of a tuba and drum set, the Hot Five became the Hot Seven for a series of recordings. Louis Armstrong was the among first to record improvised solos during what jazz musicians call breaks. A break is a pause in the ongoing rhythm of a composition-as happens several times during the clarinet solo. A related musical practice is stop-time, in which the instruments hit typically just one beat per measure. Potato Head Blues provides an excellent example of how Armstrong's natural sense of rhythm made his solos swing.
Activity: Follow the outline below of Potato Head Blues and count the number of breaks you hear.
1. Ensemble
2. Trumpet solo with banjo accompaniment
3. Clarinet solo in high register with banjo accompaniment, includes several breaks
4. Banjo break
5. Trumpet solo with Armstrong accompanied by the band in stop-time
6. Ensemble
3. Heebie Jeebies-Louis Armstrong and his Hot Five, 2:53
4. What a Wonderful World, 2:22
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
1st Celluloid film, 1888 - Roundhay Garden Scene, :03
The earliest celluloid film was shot by Louis Aimé Augustin Le Prince using the Le Prince single-lens camera made in 1888. It was taken in the garden of the Whitley family house in Oakwood Grange Road, Roundhay, a suburb of Leeds, Yorkshire, Great Britain, possibly on October 14, 1888. It shows Adolphe Le Prince (Le Prince's son), Mrs. Sarah Whitley, (Le Prince's mother-in-law), Joseph Whitley and Miss Harriet Hartley. The 'actors' are shown walking around in circles, laughing to themselves and keeping within the area framed by the camera. It lasts for less than 2 seconds and includes 4 frames.
Birth of a Nation by D.W. Griffith - Trailer (1915), 2:22
Two brothers, Phil and Ted Stoneman, visit their friends in Piedmont, South Carolina: the family Cameron. This friendship is affected by the Civil War, as the Stonemans and the Camerons must join up opposite armies. The consequences of the War in their lives are shown in connection to major historical events, like the development of the Civil War itself, Lincoln's assassination, and the birth of the Ku Klux Klan.
Joseph Goebbels - Götterdämmerung (Wagner), 3:23
Reading Check
Explaining
Why was the radio an important propaganda tool for the Nazis?
Mass Leisure
Strength Through Joy (Kraft durch Freude), 4:15
The organization had the self-declared goal of creating "a National Socialist Volksgemeinschaft ("people's community") and the perfection and refinement of the German people." It aimed to reach this goal by organizing tight and thoroughly structured recreational programs. Robert Ley, one of KdF's founders, quoted Hitler:
"I wish that the worker be granted a sufficient holiday and that everything is done, in order to let this holiday as well all other leisure time to be truly recreational. I wish this, because I want a determined people with strong nerves, for truly great politics can only be achieved with a people that keeps its nerves."
Reading Check
Examining
How did the "Strength through Joy" program help to support the Nazi regime?
Artistic and Literary Trends
Art: Nightmares and New Visions
During and after the war, the dada movement burst onto the art world. Dadaists rejected all traditional conventions and believed that there was no sense or truth in the world. Paintings and sculptures by Jean Arp and Max Ernst were intended to shock and disturb viewers. Other dadaist artists created collages, photomontages, or sculptures made of objects they found abandoned or thrown away.
Cubism and dada both helped to inspire surrealism, a movement that attempted to portray the workings of the unconscious mind. Surrealism rejected rational thought, which had produced the horrors of World War I, in favor of irrational or unconscious ideas. The Spanish surrealist Salvador Dali used images of melting clocks and burning giraffes to suggest the chaotic dream state described by Freud.
Literature: The Search for the Unconscious
The Great Depression
Photo Essay on the Great Depression
Cf. http://www.pbs.org/wnet/historyofus/tools/browser12.html
Diaries of people who lived during the Depression
Cf. http://teacher.scholastic.com/activities/our_america/great_depression/
People and events of the Dust Bowl
Cf. http://www.pbs.org/wgbh/americanexperience/films/dustbowl/
Original photographs from the times
Cf. http://memory.loc.gov/ammem/fsahtml/fatop1.html
Cf. Click on links to view original documents from Mussolini's life and times.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g3/
Weimar:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/weimaract.shtml
Nazis:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/nazisact.shtml
Click on "Germany Image Gallery" for the slideshow.
Cf. http://www.worldwar2database.com/cgi-bin/slideviewer.cgi?list=preludegermany.slides
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Nazi propaganda posters: Election, Sower of peace, 'One People, One Nation, One Leader,' Saving for a Volkswagen, Jews, Anti-Bolshevism.
Cf. http://www.bbc.co.uk/history/worldwars/wwtwo/nazi_propaganda_gallery.shtml
Soviet Russia
Stalin and Industrialization of the USSR
See original documents and learn more about Stalin's methods.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g4/
View Soviet posters
Cf. http://www.internationalposter.com/country-primers/soviet-posters.aspx
Review Stalin's takeover of power from the BBC:
Cf. http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/russia/stalinsact.shtml
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
Hitler Youth Anthem: Es zittern die morschen Knochen
This is the official song of the youth wing of the NSDAP, the Hitler Youth.
Television broadcasting in The Third Reich
Joseph Goebbels - Götterdämmerung (Wagner)
Hitler Speeches and Wagner Music, from the documentary "Triumph of the Will", footages of Hitler's speeches with Wagner (Ride of the Valkyries).
Reporters covering a “Don’t Ask, Don’t Tell” protest at the White House were forced out of Lafayette Square by police. The scene, captured on video, is remarkable given the historical importance of the park as a protest spot across the street from 1600 Pennsylvania Avenue.
The Rise of Dictators
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Hitler and His Views Cf. http://www.pearsonsuccessnet.com/snpapp/iText/products/0-13-133374-7/audio.html?fname=audio/audio_WH07Y03252.mov
Rise of Nazism
Victory of Nazism
The Nazi State
Women and Nazism
Anti-Semitic Policies
Preview
Section 4 Cultural and Intellectual Trends
Note Taking
Reading and Listening Skill:
Identify Supporting Details Use a concept web like the one below to record details related to the main ideas of this section.
A magazine cover shows a Jazz Age flapper.
Mass Culture: Radio and Movies
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Hitler and His Views Cf. http://www.pearsonsuccessnet.com/snpapp/iText/products/0-13-133374-7/audio.html?fname=audio/audio_WH07Y03252.mov
Rise of Nazism
Victory of Nazism
The Nazi State
Women and Nazism
Anti-Semitic Policies
Preview
Section 4 Cultural and Intellectual Trends
Note Taking
Reading and Listening Skill:
Identify Supporting Details Use a concept web like the one below to record details related to the main ideas of this section.
Mass Culture: Radio and Movies
Early Radio History, 4:53
What were people listening to? They listened to a uniquely American form of music: jazz.
In the 1920s, many radios tuned into the new sounds of jazz. In fact, the 1920s are often called the Jazz Age. African American musicians combined Western harmonies with African rhythms to create jazz. Jazz musicians like trumpeter Louis Armstrong and pianist Duke Ellington, took simple melodies and improvised endless subtle variations in rhythm and beat. They produced original music, and people loved it. Much of today’s popular music has been influenced by jazz.
1. Louis Armstrong - West End Blues 1928, 3:20
West End Blues is one of the most famous recordings in the history of jazz for the following reasons: 1) Armstrong's introduction showed how dazzling his skills as a trumpeter were; 2) he laid the groundwork for jazz soloists to be considered true artists, the same as musicians in other styles of music and; 3) the recording introduced Earl Hines as the first real jazz pianist, who was Armstrong's equal in creative musical thought.
Activity: Follow the outline below of West End Blues.
1. Trumpet introduction by Armstrong
2. Ensemble plays with Armstrong heard above all
3. Trombone solo
4. Call and response: clarinet solo alternates with Armstrong scat-singing
5. Piano solo by Earl Hines, playing with a trumpet-like attack
6. Armstrong solos: holds a high B-flat for almost four measures
7. Earl Hines' piano enters to join Armstrong for ending.
2. Louis Armstrong & His Hot Seven - Potato Head Blues (1927), 3:10
With the addition of a tuba and drum set, the Hot Five became the Hot Seven for a series of recordings. Louis Armstrong was the among first to record improvised solos during what jazz musicians call breaks. A break is a pause in the ongoing rhythm of a composition-as happens several times during the clarinet solo. A related musical practice is stop-time, in which the instruments hit typically just one beat per measure. Potato Head Blues provides an excellent example of how Armstrong's natural sense of rhythm made his solos swing.
Activity: Follow the outline below of Potato Head Blues and count the number of breaks you hear.
1. Ensemble
2. Trumpet solo with banjo accompaniment
3. Clarinet solo in high register with banjo accompaniment, includes several breaks
4. Banjo break
5. Trumpet solo with Armstrong accompanied by the band in stop-time
6. Ensemble
3. Heebie Jeebies-Louis Armstrong and his Hot Five, 2:53
Heebie Jeebies was one of the first jazz recordings to include scat singing. Armstrong departs from some of the words, instead singing rhythmic "nonsense syllables" called "scat." This recording brought scat singing to the public's attention. The "heebie jeebies" was a popular dance when this song was recorded.
Activity: Follow the outline below of Heebie Jeebies. Listen closely to hear exactly when Armstrong departs from the original lyrics and begins to scat, and when he continues with the words of the song.
1. Introduction with piano and banjo
2. Ensemble enters
3. Trumpet solo
4. Clarinet solo
5. Armstrong sings
6. Ensemble
7. Armstrong talks/sings at end
4. What a Wonderful World, 2:22
What a Wonderful World was one of Louis Armstrong's favorite songs; he loved it. It is one of the few songs he recorded without playing his trumpet; stringed instruments provide the background music. The song became a hit in England, and became popular in the United States when it was featured in the movie, Good Morning, Vietnam, twenty years later. Louis Armstrong loved children; listen to see if you hear feeling in his voice.
Activity: Follow the words of What a Wonderful World. This song is an excellent example of Louis Armstrong's singing style: sometimes he's right on the beat, sometimes just before the beat, and sometimes just behind the beat. Indicate how he attacks the beat beside the verses of the song. Why do you think it was one of Armstrong's favorite songs? Do you think it could become one of your favorites? Write your own poem describing "A Wonderful World."
What a Wonderful World
I see trees of green,
Red roses too,
I see them bloom
For me and you
And I think to myself
What a wonderful world.
I see skies of blue
And clouds of white,
The bright blessed day
The dark sacred night
And I think to myself
What a wonderful world.
The colors of the rainbow,
So pretty in the sky,
Are also on the faces
Of people going by.
I see friends shaking hands,
Saying "How do you do?"
They're really saying,
"I love you."
I hear babies cry,
I watch them grow.
They'll learn much more
Than I'll ever know.
And I think to myself,
What a wonderful world.
Yes, I think to myself,
What a wonderful world.
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
1st Celluloid film, 1888 - Roundhay Garden Scene, :03
The earliest celluloid film was shot by Louis Aimé Augustin Le Prince using the Le Prince single-lens camera made in 1888. It was taken in the garden of the Whitley family house in Oakwood Grange Road, Roundhay, a suburb of Leeds, Yorkshire, Great Britain, possibly on October 14, 1888. It shows Adolphe Le Prince (Le Prince's son), Mrs. Sarah Whitley, (Le Prince's mother-in-law), Joseph Whitley and Miss Harriet Hartley. The 'actors' are shown walking around in circles, laughing to themselves and keeping within the area framed by the camera. It lasts for less than 2 seconds and includes 4 frames.
Birth of a Nation by D.W. Griffith - Trailer (1915), 2:22
Two brothers, Phil and Ted Stoneman, visit their friends in Piedmont, South Carolina: the family Cameron. This friendship is affected by the Civil War, as the Stonemans and the Camerons must join up opposite armies. The consequences of the War in their lives are shown in connection to major historical events, like the development of the Civil War itself, Lincoln's assassination, and the birth of the Ku Klux Klan.
Joseph Goebbels - Götterdämmerung (Wagner), 3:23
Reading Check
Explaining
Why was the radio an important propaganda tool for the Nazis?
Mass Leisure
Strength Through Joy (Kraft durch Freude), 4:15
The organization had the self-declared goal of creating "a National Socialist Volksgemeinschaft ("people's community") and the perfection and refinement of the German people." It aimed to reach this goal by organizing tight and thoroughly structured recreational programs. Robert Ley, one of KdF's founders, quoted Hitler:
"I wish that the worker be granted a sufficient holiday and that everything is done, in order to let this holiday as well all other leisure time to be truly recreational. I wish this, because I want a determined people with strong nerves, for truly great politics can only be achieved with a people that keeps its nerves."
Reading Check
Examining
How did the "Strength through Joy" program help to support the Nazi regime?
Artistic and Literary Trends
Art: Nightmares and New Visions
During and after the war, the dada movement burst onto the art world. Dadaists rejected all traditional conventions and believed that there was no sense or truth in the world. Paintings and sculptures by Jean Arp and Max Ernst were intended to shock and disturb viewers. Other dadaist artists created collages, photomontages, or sculptures made of objects they found abandoned or thrown away.
Cubism and dada both helped to inspire surrealism, a movement that attempted to portray the workings of the unconscious mind. Surrealism rejected rational thought, which had produced the horrors of World War I, in favor of irrational or unconscious ideas. The Spanish surrealist Salvador Dali used images of melting clocks and burning giraffes to suggest the chaotic dream state described by Freud.
Literature: The Search for the Unconscious
Joyce to the World Video (James Joyce Video) Documentary, 2:24
What makes James Joyce's Ulysses so compelling that it continues to attract devoted readers one hundred years after its publication? Joyce to the World explores the global phenomenon known as "Bloomsday" celebrated every year on June 16th, the day the novel takes place.
Celebrate the 100-year anniversary of this amazing tradition when Joyceans around the world open a book, raise a pint, and dress in costume in homage to their fictional heroes. With extensive biographical footage and commentary, viewers follow Joyce from his early life in Dublin to his later years of self-exile with his wife, Nora Barnacle.
Interviews with award-winning actors, writers and scholars including Brian Dennehy, Frank McCourt, Malachy McCourt, Fionnula Flanagan and Senator David Norris, bring audiences inside the artist's mind and explain why so many are drawn to his work. Die-hard fans and those just beginning their exploration of this acclaimed artist will find Joyce to the World a treasured resource for years to come.
Reading Check
Examining
Why were artists and writers after World War I attracted to Freud's theory of the unconscious?
The Heroic Age of Physics
The Uncertainty Principle, 2:08
Reading Check
Explaining
How did Heisenberg's uncertainty principle challenge the Newtonian worldview?
Ch. 17 References
Photo Essay on the Great Depression
Cf. http://www.pbs.org/wnet/historyofus/tools/browser12.html
Diaries of people who lived during the Depression
Cf. http://teacher.scholastic.com/activities/our_america/great_depression/
People and events of the Dust Bowl
Cf. http://www.pbs.org/wgbh/americanexperience/films/dustbowl/
Original photographs from the times
Cf. http://memory.loc.gov/ammem/fsahtml/fatop1.html
Cf. Click on links to view original documents from Mussolini's life and times.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g3/
Weimar:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/weimaract.shtml
Nazis:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/nazisact.shtml
Click on "Germany Image Gallery" for the slideshow.
Cf. http://www.worldwar2database.com/cgi-bin/slideviewer.cgi?list=preludegermany.slides
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Nazi propaganda posters: Election, Sower of peace, 'One People, One Nation, One Leader,' Saving for a Volkswagen, Jews, Anti-Bolshevism.
Cf. http://www.bbc.co.uk/history/worldwars/wwtwo/nazi_propaganda_gallery.shtml
Soviet Russia
Stalin and Industrialization of the USSR
See original documents and learn more about Stalin's methods.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g4/
View Soviet posters
Cf. http://www.internationalposter.com/country-primers/soviet-posters.aspx
Review Stalin's takeover of power from the BBC:
Cf. http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/russia/stalinsact.shtml
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
Hitler Youth Anthem: Es zittern die morschen Knochen
This is the official song of the youth wing of the NSDAP, the Hitler Youth.
Television broadcasting in The Third Reich
Joseph Goebbels - Götterdämmerung (Wagner)
Hitler Speeches and Wagner Music, from the documentary "Triumph of the Will", footages of Hitler's speeches with Wagner (Ride of the Valkyries).
How To Take Effective Notes
Email to gmsmith@shanahan.org
Friday: p. 553
Reading Check
Summarizing
What steps did Hitler take to establish a Nazi totalitarian state in Germany?
Email to gmsmith@shanahan.org
Friday: p. 553
Reading Check
Summarizing
What steps did Hitler take to establish a Nazi totalitarian state in Germany?
AP Economics: 23 April 2010
Prayer
2. Read Ch. 26
p. 687, #1-5.
3. As review for HW, typical questions that you may encounter on the actual AP Economics Macro Test are included daily:
Review Questions (Princeton):
18. When the value of the U.S. dollar appreciates relative to other currencies, which of the following is the most likely to occur?
a) Imports into the U.S. will decrease.
b) Exports from the U.S. will increase.
c) U.S. residents will take more vacations in foreign countries.
d) More foreign visitors will travel to the U.S.
e) Investments in U.S. securities will increase.
The Ch. 20 Make-Up Test is today. Put your name on both the Scantron and the Test. You may write on the Test.
Current Events:
NYU's Smith Fears Dodd Bill May Lose Bank-Tax Provision
Roy Smith, a professor of finance at New York University's Stern School of Business, talks with Bloombergs Margaret Brennan about the outlook for legislation to overhaul U.S. financial regulation. (Source: Bloomberg)
Push for Tough Economic Control
We will pick up in Chapter 25.
Chapter Overview
This chapter presents the analysis of absolute and comparative advantage and employs supply and demand analysis to explain the determination of the terms of trade. Arguments regarding free trade and globalization are discussed. The chapter concludes with a section on the dynamics of trade as illustrated by trade in cashmere.
Chapter Outline
This chapter presents the analysis of absolute and comparative advantage and employs supply and demand analysis to explain the determination of the terms of trade. Arguments regarding free trade and globalization are discussed. The chapter concludes with a section on the dynamics of trade as illustrated by trade in cashmere.
Chapter Outline
The Dynamics of Trade: Cashmere
Ideas for Capturing Your Classroom Audience
References
Milton Friedman - Free to Choose 1990 - 1 of 5 The Power of the Market PL 2/5
Chapter 26 Preview
Chapter 26 Open Economy Macroeconomics
Chapter Overview
After covering the balance of payments, this chapter examines how exchange rates
are determined and then relates them back to the current and capital accounts.
Fixed and flexible exchange rate systems are then discussed in the context of monetary and fiscal policy effectiveness in an open economy.
Chapter Outline
The Balance of Payments
Balance of payments - structure of the current account, 7:11
Cf. http://www.youtube.com/watch?v=JKRBpJZ92QM
The Current Account
Current account deficits and exchange rates, 4:34
Cf. http://www.youtube.com/watch?v=yCjwXz7ZXwU
Imports and Exports
Income
Transfers
The Capital Account
Checkpoint: The Balance of Payments
Exchange Rates
Exchange Rates and Globalization, 3:03
Dr. Tawni Ferrarini's International Economics course at Northern Michigan University. The video simplifies the concepts of exchange rates and globalization and puts a real world perspective on those concepts.
Defining Exchange Rates
Nominal Exchange Rates
International Fisher Effect, 2:58
The International Fisher effect is a hypothesis in international finance that says that the difference in the nominal interest rates between two countries determines the movement of the nominal exchange rate between their currencies, with the value of the currency of the country with the lower nominal interest rate increasing. This is also known as the assumption of Uncovered Interest Parity.
Real Exchange Rates
Purchasing Power Parity
"Big Mac," PPP - Purchasing Power Parity, Real Exchange Rates, 2:26
The purchasing power parity (PPP) theory uses the long-term equilibrium exchange rate of two currencies to equalize their purchasing power. Developed by Gustav Cassel in 1920, it is based on the law of one price: the theory states that, in ideally efficient markets, identical goods should have only one price.
This purchasing power exchange rate equalizes the purchasing power of different currencies in their home countries for a given basket of goods. Using a PPP basis is arguably more useful when comparing differences in living standards on the whole between nations because PPP takes into account the relative cost of living and the inflation rates of different countries, rather than just a nominal gross domestic product (GDP) comparison. The best-known and most-used purchasing power parity exchange rate is the Geary-Khamis dollar (the "international dollar").
PPP exchange rates (the "real exchange rate") fluctuations are mostly due to market exchange rates movements. Aside from this volatility, consistent deviations of the market and PPP exchange rates are observed, for example (market exchange rate) prices of non-traded goods and services are usually lower where incomes are lower. (A U.S. dollar exchanged and spent in India will buy more haircuts than a dollar spent in the United States). PPP takes into account this lower cost of living and adjusts for it as though all income was spent locally. In other words, PPP is the amount of a certain basket of basic goods which can be bought in the given country with the money it produces.
There can be marked differences between PPP and market exchange rates. [1] For example, the World Bank's World Development Indicators 2005 estimated that in 2003, one United States dollar was equivalent to about 1.8 Chinese yuan by purchasing power parity [2] — considerably different from the nominal exchange rate that put one dollar equal to 7.6 yuan. This discrepancy has large implications; for instance, GDP per capita in the People's Republic of China is about US $1,800 while on a PPP basis it is about US $7,204. This is frequently used to assert that China is the world's second-largest economy, but such a calculation would only be valid under the PPP theory. At the other extreme, Japan's nominal GDP per capita is around US $37,600, but its PPP figure is only US $30,615.
Exchange Rate Determination
A Market for Foreign Exchange
Flexible Exchange Rates
1971, Nixon moves the world to flexible rates, 4:06
On August 15, 1971, President Nixon announced on TV 3 dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system. And he imposed a temporary surcharge (tariff) on all imports. The Bretton Woods system was created towards the end of World War II and involved fixed exchange rates with the U.S. dollar as the key currency - but also a role for gold linked to the dollar at $35/ounce. The system began to falter in the 1960s because of an excess of dollars flowing out of the U.S. which foreign central banks had to absorb. A run on gold in 1968 was stemmed by a patch on Bretton Woods known as the two-tier gold system. All of this was ended unilaterally by the Nixon decision. After a brief attempt to create a modified fixed exchange rate system, the world moved to flexible rates.
Currency Appreciation and Depreciation
China Currency Revaluation Debate, 2:03
China Commerce Minister says appreciation of currency will do little improve balance of payments. Better cooperation in helping increase U.S. exports to China is discussed.
Determinants of Exchange Rates
What Determines the Foreign Exchange Rate?, 2:13
To determine the foreign exchange rate for different currencies, check the local paper for exchange rates, and pay attention to the inflation rate. Avoid exchanging money with countries that spend more money than they bring in with advice from a financial consultant in this free video on currency exchange.
Expert: Roger Groh
Bio: Roger Groh is the founder of Groh Asset Management.
Exchange Rates and the Current Account
Exchange rates, 1:45
Changes in Inflation Rates
Changes in Domestic Disposable Income
Exchange Rates and the Capital Account
Interest Rate Changes
Exchange Rate Changes
Exchange Rates and Aggregate Supply and Demand
Checkpoint: Exchange Rates
Monetary and Fiscal Policy in an Open Economy
Fixed and Flexible Exchange Rate Systems
Policies Under Fixed Exchange Rates
Policies Under Flexible Exchange Rates
Checkpoint: Monetary and Fiscal Policy in an Open Economy
Ideas for Capturing Your Classroom Audience
Here is a true story. On a flight from the United States to France the cabin crew
announced that wine, beer, etc. could be purchased for either 5 U.S. dollars or 4
euros. Who got the better deal, the people paying in U.S. currency or the people
paying in euros? This is a very simple example of purchasing power parity.
Play a game of name that currency. Pick a country (or a currency) and see if anyone can identify the currency (or country). Illustrate the various currencies of the world by visiting a Web site such as http://www.x-rates.com/. Among other things, this site provides you with the opportunity to calculate values in different currencies and generate graphs of currencies relative to each other over different periods of time.
Put it in context. Illustrate U.S. International Trade in Goods and Services with
the graph on this Foreign Trade Statistics page from the U.S. Census Bureau. This
will give students an overview of the size of U.S. trade. The page is located at:
http://www.census.gov/indicator/www/ustrade.html.
Trade data is available on the Web site of the Bureau of Economic Analysis at
http://www.bea.gov/International/Index.htm.
Do some international comparison shopping. Visit the Web sites of Amazon.com
in the United States and in the United Kingdom (www.amazon.com.uk). Find the
price in pounds and then translate it to U.S. dollars using the current exchange
rate. You can also do this by pointing out the two prices, one in Canadian dollars
and one in U.S. dollars, listed for greeting cards and paperback books.
Chapter Checkpoints
The Balance of Payments
Question: Ronald McKinnon, writing in the April 20, 2006 issue of The Wall Street
Journal, notes, China's saving is even higher than its own extraordinary high
domestic investment of 40% of GDP. . . . The result is that China (like many other
countries in Asia) naturally runs an overall current account surplus. . . .�Why would this be true? (Hint: look back at the discussion on the relationship between federal and trade deficits in the chapter on Deficits and the Public Debt.)
The point is to check that students can: apply the extended “leakages and injections” approach to the analysis of the cited article.
Exchange Rates
Question: If China were to revalue its currency by 10% so in effect the yuan appreciated by 10%, would this have an impact on the U.S. current account?
The point is to check that students can: integrate the understanding of the effect of changes in currency values on imports and exports and therefore on the current account.
Monetary and Fiscal Policy in an Open Economy
Question: The United States seems to rely more on monetary policy to maintain stable prices, low interest rates, low unemployment, and healthy economic growth.
Does the fact that the United States has really embraced global trade (imports and
exports combined are over 25% of gross domestic product) and we have a flexible
(floating) exchange rate help explain why monetary policy seems more important
than fiscal policy?
The point is to check that students can: understand how the exchange rate system
(fixed or flexible) impacts the effectiveness of monetary and fiscal policy.
Examples Used in the End-of-Chapter Questions
Question 2 refers to remittances. For a map illustrating the amounts of remittances to various countries see the Web site of the Multilateral Investment Fund from the Inter-American Development Bank. The site is located on the Web at: http://www.iadb.org/mif/remesas_map.cfm?language=English&parid=5&item1d=2.
Question 4 asks “how are most exchange rates determined?” and the answer is by
supply and demand in free markets. China has been viewed as an exception, but in
2005 the Chinese government took an important step toward allowing its currency
to float. For more information see the story by Peter S. Goodman in The
Washington Post titled, “China Ends Fixed-Rate Currency: Administration Hails
Policy Shift” (July 22, 2005, page A01, available on the Web at: http://www .washingtonpost.com/wp-dyn/content/article/2005/07/21/AR2005072100351.html.
Question 11 refers to the devaluation of Zimbabwe’s currency in mid-2006. But they
“only” (in simple terms) removed three 0’s. Turkey, in January 2005, took six 0’s off in the “redenomination” of their currency. Learn more about Turkey (and how things have worked out) on this site from the BBC: http://news.bbc.co.uk/1/hi/business/1833730.stm.
For Further Analysis
Using the AS/AD Model to Explore the Impacts of Changes in the Value of the
Dollar
The example provided in the student handout can be used as an in-class small group
exercise or as an individual in-class exercise. It is designed to complement and
extend the text’s material exchange rates and their effect on the U.S. economy using the AS/AD model. The exercise begins with the analysis described by Figure 4 in the chapter and then has students consider the opposite case (of dollar appreciation).
The exercise concludes asking students to evaluate the differing effects and
address the question of “what’s better” for the U.S. economy: a strong dollar or a
weak dollar?
The format of the exercise asks students to demonstrate their understanding by
analyzing a reverse situation to that described in the text. It also provides a chance to introduce students to the debates about economics and to get them to think about whether appreciation or depreciation is better for an economy and whether it benefits or hurts certain portions of society.
If you wish to elaborate on the analysis you can ask students to consider financial effects such as capital flows and the interest rate; this material is covered in the chapter. You may wish to supplement the assignment with current articles about the value of the dollar and views as to whether the U.S. government should “manage” the dollar more than it does at present. Other points that could be addressed include how long the long run really is and whether the short-run effects may swamp the long run. Stone’s section in microeconomics about the different definitions of time in economics is very useful.
Web-Based Exercise
This example can be used as a small group exercise or as an individual exercise. The exercise provides an opportunity for students to apply the material in the chapter about purchasing power parity and the Big Mac Index to get a feel for forecasting exchange rates. The exercise asks students to look at the Big Mac Index data from some previous period(s) and see if the currencies noted as “overvalued” subsequently depreciated and if those noted as “undervalued” subsequently appreciated.
You can change how extensive this assignment is by adding more past periods of
time or supplementing the Big Mac data with articles about various currencies
explaining the factors affecting them.
Students may also be intrigued by The Economist’s “lattenomics” that uses
Starbucks coffee instead of burgers. A video clip and explanation are among the
resources on the site at http://www.economist.com/markets/Bigmac/Index.cfm.
PPP and the Big Mac
As described in the text, the Big Mac Index published by The Economist has always
been meant to be a humorous and intuitive way to explain purchasing power parity.
However, as simple as it is, the Big Mac Index has been pretty good at predicting the future course of some currencies. Visit the Web site for the Big Mac Index at
http://www.economist.com/markets/Bigmac/Index.cfm and answer the following:
Collect data to answer the following:
1) Pick three currencies that were listed as overvalued at the time and three
that were listed as undervalued. Have those currencies subsequently moved
in the indicated directions?
2) Describe the limitations of the Big Mac Index.
Tips from a Colleague
The most challenging part of this chapter is the material on the current and capital accounts. Students are likely to understand that if we import more than we export we have a trade deficit, but the logic of why this results in a capital account surplus is likely to elude them. You might consider a simple intuitive illustration of swapping goods. Offer to trade an inexpensive stick pen for a student’s hat or other item which has an obviously higher value. Explain that such a direct swap of goods would be similar to imports and exports. When the student suggests that the goods being traded are not equal in value, offer different amounts of money (hypothetically) to make up the difference. Explain that the willingness of someone to take U.S. money to make up the difference is analogous to the increased holdings of U.S. assets by foreigners that make up the capital account.
Ch. 26 References
JFK Confers with Advisors on Gold & the Balance of Payments
At the end of World War II, the US became the mainstay of the Bretton Woods international monetary system. Under this system, the US dollar was the key currency and interchangeable into gold at $35 per ounce. Until the late 1950s, the dollar tended to be undervalued (dollar shortage). But after that time, there was a dollar surplus and a resulting drain on the US gold supply. The standard remedy would have been a tight monetary policy and austerity. But the Kennedy administration was elected in 1960 on a platform of economic expansion. There are hours of White House tapes of Kennedy and his advisors fretting over the dollar/gold situation. This clip contains illustrative excerpt from April 18, 1963. At the meeting are JFK, Treasury Secretary C. Douglas Dillon, George Ball, and Robert V. Roosa. Kennedy can be heard responding. The speaker presenting the report is probably Dillon.
Email HW to gmsmith@shanahan.org
1. Be sure to review Chapters 20-25 (we will have Tests on this material as well, TBA). Some students have asked to be tested as close as possible after covering the material.
2. Read Ch. 26
p. 687, #1-5.
3. As review for HW, typical questions that you may encounter on the actual AP Economics Macro Test are included daily:
Review Questions (Princeton):
a) Imports into the U.S. will decrease.
b) Exports from the U.S. will increase.
c) U.S. residents will take more vacations in foreign countries.
d) More foreign visitors will travel to the U.S.
e) Investments in U.S. securities will increase.
19. Among those hurt by inflation are
I. borrowers at fixed interest rates
II. individuals on fixed incomes
III. those with savings earning fixed interest rates
IV. restaurant owners
a) I and II only
b) II and III only
c) II and IV only
d) II only
e) II, III, and IV only
20. A difference between M1 and M2 is that
a) M1 is a first mortgage and M2 is a second mortgage
b) M2 is M1 plus assets that are more liquid
c) M2 includes savings deposits
d) M1 is larger than M2
e) M2 is always double M1
WH II Honors: 22 April 2010
Prayer
Current Events:
Islamists vs. South Park
Chapter 17 The West Between the Wars 1919-1939
The Rise of Dictators
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Hitler and His Views Cf. http://www.pearsonsuccessnet.com/snpapp/iText/products/0-13-133374-7/audio.html?fname=audio/audio_WH07Y03252.mov
Rise of Nazism
Victory of Nazism
The Nazi State
Women and Nazism
Like Fascists in Italy, Nazis sought to limit women’s roles. Women were dismissed from upper-level jobs and turned away from universities. To raise the birthrate, Nazis offered “pure-blooded Aryan” women rewards for having more children. Still, Hitler’s goal to keep women in the home and out of the workforce applied mainly to the privileged. As German industry expanded, women factory workers were needed.
To understand this material, refer to the Women in Nazi Germany diagram.
Anti-Semitic Policies
In his fanatical anti-Semitism, Hitler set out to drive Jews from Germany. In 1935, the Nazis passed the Nuremberg Laws, which deprived Jews of German citizenship and placed severe restrictions on them. They were prohibited from marrying non-Jews, attending or teaching at German schools or universities, holding government jobs, practicing law or medicine, or publishing books. Nazis beat and robbed Jews and roused mobs to do the same. Many German Jews fled, seeking refuge in other countries.
On November 7, 1938, a young Jew whose parents had been mistreated in Germany shot and wounded a German diplomat in Paris. Hitler used the incident as an excuse to stage an attack on all Jews. Kristallnacht (krih stahl nahkt), or the “Night of Broken Glass,” took place on November 9 and 10. Nazi-led mobs attacked Jewish communities all over Germany, Austria, and the annexed portions of Czechoslovakia. Before long, Hitler and his henchmen were making even more sinister plans for what they called the “Final Solution”—the extermination of all Jews.
To understand this material, refer to the
Jews in Nazi Germany diagram.
Reading Check
Summarizing
What steps did Hitler take to establish a Nazi totalitarian state in Germany?
Preview
Section 4 Cultural and Intellectual Trends
Mass Culture: Radio and Movies
Early Radio History, 4:53
What were people listening to? They listened to a uniquely American form of music: jazz.
In the 1920s, many radios tuned into the new sounds of jazz. In fact, the 1920s are often called the Jazz Age. African American musicians combined Western harmonies with African rhythms to create jazz. Jazz musicians like trumpeter Louis Armstrong and pianist Duke Ellington, took simple melodies and improvised endless subtle variations in rhythm and beat. They produced original music, and people loved it. Much of today’s popular music has been influenced by jazz.
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
1st Celluloid film, 1888 - Roundhay Garden Scene, :03
The earliest celluloid film was shot by Louis Aimé Augustin Le Prince using the Le Prince single-lens camera made in 1888. It was taken in the garden of the Whitley family house in Oakwood Grange Road, Roundhay, a suburb of Leeds, Yorkshire, Great Britain, possibly on October 14, 1888. It shows Adolphe Le Prince (Le Prince's son), Mrs. Sarah Whitley, (Le Prince's mother-in-law), Joseph Whitley and Miss Harriet Hartley. The 'actors' are shown walking around in circles, laughing to themselves and keeping within the area framed by the camera. It lasts for less than 2 seconds and includes 4 frames.
Birth of a Nation by D.W. Griffith - Trailer (1915), 2:22
Two brothers, Phil and Ted Stoneman, visit their friends in Piedmont, South Carolina: the family Cameron. This friendship is affected by the Civil War, as the Stonemans and the Camerons must join up opposite armies. The consequences of the War in their lives are shown in connection to major historical events, like the development of the Civil War itself, Lincoln's assassination, and the birth of the Ku Klux Klan.
Joseph Goebbels - Götterdämmerung (Wagner), 3:23
Reading Check
Explaining
Why was the radio an important propaganda tool for the Nazis?
Mass Leisure
Strength Through Joy (Kraft durch Freude), 4:15
The organization had the self-declared goal of creating "a National Socialist Volksgemeinschaft ("people's community") and the perfection and refinement of the German people." It aimed to reach this goal by organizing tight and thoroughly structured recreational programs. Robert Ley, one of KdF's founders, quoted Hitler:
"I wish that the worker be granted a sufficient holiday and that everything is done, in order to let this holiday as well all other leisure time to be truly recreational. I wish this, because I want a determined people with strong nerves, for truly great politics can only be achieved with a people that keeps its nerves."
Reading Check
Examining
How did the "Strength through Joy" program help to support the Nazi regime?
Artistic and Literary Trends
Art: Nightmares and New Visions
During and after the war, the dada movement burst onto the art world. Dadaists rejected all traditional conventions and believed that there was no sense or truth in the world. Paintings and sculptures by Jean Arp and Max Ernst were intended to shock and disturb viewers. Other dadaist artists created collages, photomontages, or sculptures made of objects they found abandoned or thrown away.
Cubism and dada both helped to inspire surrealism, a movement that attempted to portray the workings of the unconscious mind. Surrealism rejected rational thought, which had produced the horrors of World War I, in favor of irrational or unconscious ideas. The Spanish surrealist Salvador Dali used images of melting clocks and burning giraffes to suggest the chaotic dream state described by Freud.
Literature: The Search for the Unconscious
Reading Check
Examining
Why were artists and writers after World War I attracted to Freud's theory of the unconscious?
The Heroic Age of Physics
Reading Check
Explaining
How did Heisenberg's uncertainty principle challenge the Newtonian worldview?
Ch. 17 References
The Great Depression
Photo Essay on the Great Depression
Cf. http://www.pbs.org/wnet/historyofus/tools/browser12.html
Diaries of people who lived during the Depression
Cf. http://teacher.scholastic.com/activities/our_america/great_depression/
People and events of the Dust Bowl
Cf. http://www.pbs.org/wgbh/americanexperience/films/dustbowl/
Original photographs from the times
Cf. http://memory.loc.gov/ammem/fsahtml/fatop1.html
Cf. Click on links to view original documents from Mussolini's life and times.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g3/
Weimar:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/weimaract.shtml
Nazis:
Cf.
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/nazisact.shtml
Click on "Germany Image Gallery" for the slideshow.
Cf. http://www.worldwar2database.com/cgi-bin/slideviewer.cgi?list=preludegermany.slides
Read a detailed account of the life of Hitler
Cf. http://library.thinkquest.org/19092/hitler.html
Test yourself on how Hitler came to power
Cf. http://www.schoolhistory.co.uk/lessons/riseofhitler/index.htm
Nazi propaganda posters: Election, Sower of peace, 'One People, One Nation, One Leader,' Saving for a Volkswagen, Jews, Anti-Bolshevism.
Cf. http://www.bbc.co.uk/history/worldwars/wwtwo/nazi_propaganda_gallery.shtml
Soviet Russia
Stalin and Industrialization of the USSR
See original documents and learn more about Stalin's methods.
Cf. http://www.nationalarchives.gov.uk/education/heroesvillains/g4/
View Soviet posters
Cf. http://www.internationalposter.com/country-primers/soviet-posters.aspx
Review Stalin's takeover of power from the BBC:
Cf. http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/russia/stalinsact.shtml
Find out more about jazz
Cf. http://www.smithsonianjazz.org/class/whatsjazz/wij_start.asp
Hitler Youth Anthem: Es zittern die morschen Knochen
This is the official song of the youth wing of the NSDAP, the Hitler Youth.
Television broadcasting in The Third Reich
Joseph Goebbels - Götterdämmerung (Wagner)
Hitler Speeches and Wagner Music, from the documentary "Triumph of the Will", footages of Hitler's speeches with Wagner (Ride of the Valkyries).
How To Take Effective Notes
Email to gmsmith@shanahan.org
Thursday: p. 552, Chart Skills, #1-2
Friday: p. 553
Reading Check
Summarizing
What steps did Hitler take to establish a Nazi totalitarian state in Germany?
Email to gmsmith@shanahan.org
Thursday: p. 552, Chart Skills, #1-2
Friday: p. 553
Reading Check
Summarizing
What steps did Hitler take to establish a Nazi totalitarian state in Germany?
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