This is a trading post booth number 13 from the New York Stock Exchange built in 1930.
Grade Range: 9-12
Resource Type(s): Reviewed Websites, Primary Sources, Lessons & Activities
Duration: 90 minutes
Date Posted: 10/12/2016
Nobel Prize–winning economist Milton Friedman once said, “There is a standard cliché which I am sure you have all heard, that if you have two economists in one room, you are bound to have at least three opinions.” Drawing on disciplinary experts who disagree on a fundamental free-market economic tenet, this inquiry asks students to investigate the dispute over free trade. By considering the arguments of professional economists who may use the same data but come to very different conclusions, students examine the “price” of free trade as it relates to the North American Free Trade Agreement (NAFTA). In understanding the arguments for and against free-trade policy in general and applying such concepts to existing policy more specifically, students can gain clarity about this age-old debate and become participants in a contemporary discussion involving international trade.
United States History Standards (Grades 5-12)
Historical Thinking Standards (Grades 5-12)
Common Core State Standards (Grades 9-10)
CCSS.ELA-Literacy.RH.9-10.2 (Key Ideas and Details): Determine the central ideas or information of a primary or secondary source; provide an accurate summary of how key events or ideas develop over the course of the text.
CCSS.ELA-Literacy.RH.9-10.6 (Craft and Structure): Compare the point of view of two or more authors for how they treat the same or similar topics, including which details they include and emphasize in their respective accounts.
CCSS.ELA-Literacy.RH.9-10.9 (Integration of Knowledge and Ideas): Compare and contrast treatments of the same topic in several primary and secondary sources.
Common Core State Standards (Grades 11-12)
CCSS.ELA-Literacy.RH.11-12.2 (Key Ideas and Details): Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.
CCSS.ELA-Literacy.RH.11-12.6 (Craft and Structure): Evaluate authors' differing points of view on the same historical event or issue by assessing the authors' claims, reasoning, and evidence.
College, Career, and Civic Life (C3) Framework for Social Studies State Standards (Grades 9-12)
D2.Eco.5.9-12. (Economics): Describe the consequences of competition in specific markets.
D2.Eco.6.9-12. (Economics): Generate possible explanations for a government role in markets when market inefficiencies exist.
D2.Eco.7.9-12. (Economics): Use benefits and costs to evaluate the effectiveness of government policies to improve market outcomes.
D2.Eco.8.9-12. (Economics): Describe the possible consequences, both intended and unintended, of government policies to improve market outcomes.
D2.Eco.9.9-12. (Economics): Describe the roles of institutions such as clearly defined property rights and the rule of law in a market economy.
D2.Eco.11.9-12. (Economics): Use economic indicators to analyze the current and future state of the economy.
D2.Eco.14.9-12. (Economics): Analyze the role of comparative advantage in international trade of goods and services.
D2.Eco.15.9-12. (Economics): Explain how current globalization trends and policies affect economic growth, labor markets, rights of citizens, the environment, and resource and income distribution in different nations.
D3.2.9-12. (Gathering and Evaluating Sources): Evaluate the credibility of a source by examining how experts value the source.
D3.4.9-12. (Developing Claims and Using Evidence): Refine claims and counterclaims attending to precision, significance, and knowledge conveyed through the claim while pointing out the strengths and limitations of both.
D4.2.9-12. (Communicating and Critiquing Conclusions): Construct explanations using sound reasoning, correct sequence (linear or non-linear), examples, and details with significant and pertinent information and data, while acknowledging the strengths and weaknesses of the explanation given its purpose (e.g., cause and effect, chronological, procedural, technical).