Portfolio Assignment
A Day in Your Life
in the Global Economy
Name Net ID
Instructions
When you complete this assignment, save it in a portfolio folder you will later submit after lesson 8. This portfolio folder will contain portfolio items you will be collecting throughout the course.
The market revolution never really stopped. The American economy shifted from local to national markets between the Revolution and the Civil War, but after that, the main trend became the shift from national to international markets. This started happening in a major way in the late 1800s and was slowed down some by the World Wars, Great Depression, and the Cold War but then exploded again in the 1990s. Billions of people who could not take part in world markets now globally buy and sell. In this assignment, you will look at your connections to the world’s markets and compare the causes and effects of the market revolution of the early 1800s with those of globalization today. Make sure you look at the grading rubric below before beginning your assignment.
| Grading Rubric | ||||
| Activities | Not Acceptable
0 Points |
Acceptable
1 Point
|
Good
2 Points |
Excellent
3 Points |
| Lesson 7: A Day in Your Life in the Global Economy | Few directions followed; few and shallow links between the “market revolution” and today’s economy | Most directions followed; some links between now and then, some more thoughtful than others | Almost all directions followed; many appropriate links between then and now, consistently perceptive | All directions thoroughly followed; many insightful links between then and now |
Part 1
Write down twenty-five things (clothes, food, etc.) you use in one day and the country where each was made. The “distributed by” address on foods is not necessarily where the food was made.
- Product: backpack
Where Made: Vietnam
- Product: Jacket
Where Made: Korea
- Product: Sneakers
Where Made: Dominican Republic
- Product: Bluetooth speaker
Where Made: Korea
- Product: Textbook
Where Made: United States
- Product: Cat food
Where Made: United States
- Product: Phone
Where Made: China
- Product: Water bottle
Where Made: China
- Product: Dress
Where Made: China
- Product: Camera
Where Made: Thailand
- Product: Blanket
Where Made: China
- Product: Sandals
Where Made: Germany
- Product: Candles
Where Made: United States
- Product: Lightbulb
Where Made: United States
- Product: Puffer vest
Where Made: Vietnam
- Product: Shorts
Where Made: China
- Product: Cars
Where Made: Germany
- Product: Laptop
Where Made: United States
- Product: Washing Machine
Where Made: Germany
- Product: Wrist Watch
Where Made: Italy
- Product: Television
Where Made: Japan
- Product: Fridge
Where Made: Thailand
- Product: Iron Box
Where Made: Ukraine
- Product: Microwave
Where Made: China
- Product: Blender
Where Made: Japan
Part 2
Globalization today is made possible by many smaller revolutions, just as in the market revolution of the early 1800s. Review the “Why the Market Revolution Came” section of the lesson to remind yourself of what these smaller revolutions were in the early 1800s. Then write the changes over the last sixty years or so which have made globalization possible today.
What changes in these fields in the last sixty years have made globalization possible today?
Transportation: The invention of the aircraft.
Industry: Use of robotics.
Communication: The introduction of the internet.
Agriculture: Introduction of Genetically Modified Foods.
Business: Multinational companies.
What other things or developments have made globalization possible today?
Government regulations that promote free trade across borders.
Increased demand for labour and products or services.
Part 3
Look over this list of consequences from the market revolution and give examples of how these things also happen today in our globalized economy.
- People get more of the things they need from people they don’t know who live far away from them.
Current examples: There have been increased donations from developed nations to developing nations.
- People and families moved around more, and communities are less stable but more diverse.
Current examples: There has been an increase in the movement of people across the globe, thus increasing diversity, with America being one of the nations that have had this effect.
- Workers were put out of business by factories that could produce their product for less money.
Current examples: There has been the use of robotics to replace human labour.
- People buy more stuff and define themselves more and more by the stuff they have.
Current examples: The higher the level of disposable income the higher the propensity to buy and this brings about the idea of social class.
- People become less able to make what they need for themselves and more dependent on others.
Current examples: There has been an increased dependency ratio as a result of the unfair distribution of resources in society.
- Information moves faster making many more connections between people possible.
Current examples: There has been the use of the internet which now closes the geographical gap of distance among people.
Part 4
What are the main good and bad consequences of our globalized economy today on people, cultures, and the planet?
One of the good consequences of our globalized economies is that it had opened the world to opportunities, and this is through idea sharing courtesy of it. However, there has been a dissolution in culture as people are leaving their cultures while adopting other cultures. For the planet, there are increased levels of global warming.