March 21st, 2013

CW 8.6: The Great Depression

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Do First (3 minutes) and Share Out (2 minutes) What was the Treaty of Versailles? Describe at least 2 things this treaty required. __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ Lesson Overview (2 minutes) Objective: SWBAT synthesize the causes and responses of the Great Depression. Lesson Mastery: You will need to do the following things in order to master this lesson: 1. Complete an exit ticket 2. Write a thesis on the following prompt:

Describe the causes of and responses to the Great Depression.

Agenda: Do First and Share Out (5 minutes) Lesson Overview (2 minutes) Key Points (6 minutes) Reading: Overview of the Great Depression (10 minutes) Reading: Causes of the Great Depression (8 minutes) Reading: Responses to the Great Depression (7 minutes) Thesis Writing (6 minutes) Exit Ticket (3 minutes)

Key Ideas (6 minutes)

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1. The Great Depression began approximately 12 years after the end of WWI. It was a period of extreme economic decline, beginning in the United States, and spreading to countries all over the world. It is generally considered to be a major cause of WWII. 2. The Great Depression had several causes: a. The US and its citizens began heavy borrowing and spending b. Investors gambled on risky investments in the stock market c. The stock market crashed in the US, causing the US to not be able to pay its loans to other countries, causing the Depression to spread

3. The US, under Franklin Delano Roosevelt, responded with the New Deal, which created social programs to help US citizens. It was somewhat successful. 4. The USSR responded with a series of 5-Year Plans designed to increase industry and boost the economy of the Soviet Union

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CW 8.6: The Great Depression

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Part I: Overview of the Great Depression Depression (n.) An economic condition characterized by substantial unemployment, low output and investment, etc;

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Stock Market Crash (n.)

An event when the value of companies, represented by the price of a certain percent of ownership (stock) falls drastically

The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 and lasted until the late 1930s or middle 1940s. It was the longest, most widespread, and deepest depression of the 20th century. In the 21st century, the Great Depression is commonly used as an example of how far the world's economy can decline. The depression originated in the U.S., after the fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). The Great Depression had devastating effects in countries rich and poor. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. Unemployment in the U.S. rose to 25%, and in some countries rose as high as 33%. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by approximately 60%. Some economies started to recover by the mid-1930s. In many countries, the negative effects of the Great Depression lasted until the end of World War II. 1. What was the Great Depression? __________________________________________________________________________________________ __________________________________________________________________________________________

2. What impact did the Great Depression have on the world? __________________________________________________________________________________________ __________________________________________________________________________________________

3. What was Black Tuesday? __________________________________________________________________________________________ __________________________________________________________________________________________

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CW 8.6: The Great Depression

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Part II: Causes of the Great Depression

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The Great Depression began in the United States and spread to other countries around the world. Many theories exist as the exact economic principles that may have contributed to the Depression, however, most economists agree on several specific causes. First, the period leading up to the Great Depression (the post-WWI period and the 1920s, known as the Roaring Twenties because of the cultural shift towards wealth and prestige) included huge amounts of borrowing and spending. Total debt to GDP levels in the U.S. reached a high of just under 300% by the time of the Depression. This level of debt was not exceeded again until near the end of the 20th century. In addition, the United States reached new heights of industrialization after WWI and reached a point where factories produced more goods than people could (or would) buy. This overproduction led to more borrowing to keep businesses afloat. Finally, during this period, many financial organizations used made risky investments. In other words, they bought stock (a percentage of ownership in a company or business) that they hoped would later gain value, but in many cases this did not happen and it created instability in the market. People lost their confidence and pulled their money out of the stock market, causing the Stock Market Crash of 1929. This hurt the ability of the US to pay back its loans, and that caused other countries across the world to lose money, plunging the world into depression. 1. What is stock? _______________________________________________________________________________________

2. List the three major causes of the Great Depression and describe each one. (Make sure to annotate in the text). __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

3. How did the Stock Market Crash of 1929 cause other countries to fall into Depression? __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

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CW 8.6: The Great Depression

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Part III: Responses to the Great Depression in the US and abroad

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US Response: The New Deal President Herbert Hoover was the US president in office when the Great Depression first began. He did not respond at all, hoping the problem would fix itself. It did not, and he was voted out of office in favor of Franklin Delano Roosevelt, often known as FDR. FDR came up with a plan to combat the effects of the Great Depression in the US called the New Deal. As part of the New Deal, FDR created many of the social programs that we know today, such as Social Security. In addition, he created a number of government jobs as part of the Works Progress Administration (WPA) building roads and other public infrastructure (this is why we have so many Interstate Highways in the US). These programs helped fight unemployment, but the US economy did not return to pre-Depression levels until the end of WWII. Soviet Response: The 5-Year Plan By the time of the Great Depression, Vladimir Lenin had been succeeded in power by Joseph Stalin, who would continue to lead the throughout WWII. He created multiple 5-year plans to address the economic issues facing the USSR. These plans each focused on different aspects of the soviet economy, but each had a few aspects in common. The plans emphasized a switch to an industrial economy, increasing the amount of production in the Soviet Union. This in turn would increase the amount of wealth in Russia, creating new jobs and jump-starting the economy. 1. Describe the US response to the Great Depression __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

2. Describe the response of the USSR to the Great Depression. __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

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CW 8.6: The Great Depression

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Part IV: Thesis Writing (5 minutes)

Write a thesis on the following prompt:

Describe the causes of and responses to the Great Depression.

__________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ __________________________________________________________________________________________________ ________________________________________________________________________________________ _________ The following rubric describes how your thesis will be scored: Thesis Rubric

0
Thesis does not contain an assertion. Thesis contains 1 or fewer causes of and responses to the Great Depression One or fewer of the causes of and responses to the Great Depression is explained or has an example.

1
Thesis contains a statement that responds to the prompt but it is not arguable. Thesis contains 2 causes of and responses to the Great Depression Two of the causes of and responses to the Great Depression are explained or have examples.

2
Thesis contains an arguable statement that responds to the prompt. Thesis contains 3 or more causes of and responses to the Great Depression Three or more of the causes of and responses to the Great Depression are explained or have example.

Assertion Causes Examples/ Explanations

Partner Eval. Assertion Causes Ex./Explanations

Score

What evidence do you see for this score?