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The Great Depression Ch. 8. Standards DoDEA Social Studies Content Standards: Standard: 11SS6:...
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Transcript of The Great Depression Ch. 8. Standards DoDEA Social Studies Content Standards: Standard: 11SS6:...
The Great Depression
Ch. 8
Standards• DoDEA Social Studies Content Standards: • Standard: • 11SS6: • Students analyze the different explanations for the Great Depression and how the New Deal fundamentally
changed the role of the federal government. • Components: • 11SS6.a: • Describe the monetary issues of the late nineteenth and early twentieth centuries that gave rise to the
establishment of the Federal Reserve and the weaknesses in key sectors of the economy in the late 1920’s.• 11SS6.b:• Explain the principal cause of the Great Depression and the steps taken by the Federal Reserve, Congress, and the
Presidents Herbert Hoover and Franklin Delano Roosevelt to combat the economic crisis• 11SS6.c: • Discuss the human toll of the Depression, natural disasters, and unwise agricultural practices and their effects on
the depopulation of the rural regions and on political movements of the left and right• 11SS6.d:• Analyze the consequences of New Deal economic policies and the expanded role of the federal government in
society and the economy since the 1930’s.• Examples: Works Progress Administration (WPA), Social Security, National Labor Relations Board, farm programs,
regional development policies, and energy development projects such as the Tennessee Valley Authority
Objectives
• The student will be able to describe the principal causes of the Great Depression.
Agriculture
Causes:• Farmers made up ¼ of workforce • Increased harvest yields to meet the demands
of WWI• Invested in more land and equipment, lead to
increasing amounts of debt• Despite the drop in demand farms continued to
produce large crop yields• Failed to sell huge crop surpluses to may debts
Agriculture
• Forced to sell properties in a glutted market• Did not have cash to by consumer goods
produced by American industries • Lived on credit from month to month
Uneven Distribution of Wealth
• Wages rose gradually, worker productivity increased.
• Under consumption of the lower- income industrial workers
• Buying on Credit
The Stock Market Crash
• Speculation: the practice of making high-risk investments in hopes of obtaining large profits
• Buying “on the margin”: paying a percentage of the down payment (the margin) and the covering the rest with a loan.
• Black Tuesday: October 29, 1929, when stock prices fell sharply in the Great Crash
Business Cycle: periodic growth and contraction of the economy
Banks Collapse
• The Great Depression (1929-1941)• Crisis in confidence lead depositors to
withdraw their money • 1929 Federal Reserve raised interest rates to
discourage lending– The result: not enough money in circulation after
the crash
Unemployment Rises
• The collapse of stock prices, reduced consumer spending
• Business leaders believed that to survive they should– Depend on production cutbacks– Maintain price levels– Layoffs to reduce payroll
Hawley-Smoot Tariff
• Raised prices on foreign imports to such a level that they could not compete in the American market.
• Inspired European countries to retaliate and enact tariffs of their own
destroyed international tradeunable to move surplus goods
Global Effects
• Reparation payments• war debt payments• International imbalance of trade • The international economy had largely been
funded by American loans to Europe
Homework:
• Point out the similarities and differences between the Great Depression and current Financial Crisis – Use at least three web articles – Provide URLs – Suggestions, make a venn-diagram, write a
paragraph, use bullet points. – Due: THURS – Jan