Economics- Visualizing Globalization

Rationale:

In order to fully grasp the complexity of our highly-integrated globalized economy

we will be researching and analyzing basic and advanced economic concepts such
as Gross Domestic Product and the flow of goods and services. In addition to
defining and identifying essential unit topics, we will further our comprehension by
analyzing economic complexity visuals via MITs Observatory of Economic
Complexity.

21st Century Skills Objectives:

Critical Thinking & Problem Solvingo Cross-referencing information and concepts from numerous sources to enrich
global economic awareness and to promote rigorous intellectual dispositions.
Accessing & Analyzing Informationo Interpreting and forming relationships based on economic resources and
geopolitical determinants.
Curiosity & Imaginationo Recognizing our role as consumers of goods and services of a global
marketplace.

Step 1: Use quality sources and Boolean search phrases to answer

the following questions.

Define Macroeconomics
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What type of information is studied in Macroeconomics?

Define and explain Gross Domestic Product.

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Step 2: Google search, The Goodness of Nations and access the

link. Analyze the chart with your partner.

For Health & Wellbeing, what are the top two countries?

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Identify the two bottom countries?

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Step 3: In Google, conduct a search and navigate to MIT Observatory

of Economic Complexity on the top toolbar click Atlas then access
the PDF titled: Part 1: Why, What and How & Rankings.

With your partner, read pages 6-8. Select 3 quotes from the introduction that
you believe best summarize their motivation behind creating this website.
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Next, scroll to page 25 and analyze the table titled: Information Box 2.2: The
Worlds Most and Least Complex Products.
o What distinctions do the authors make between the most and least
complex products?
o List the top 3 most complex products.
o Arrange the 3 least complex products in a list.

Step 3: Navigate back to the home page and click EXPLORE on the
top toolbar. Spend a couple minutes searching through the
information (I know, its a lot to handle).

From the ORIGIN dropdown menu, select the United States then click the blue
box titled Build Visualization.
o Outline the top 3 exports from the United States?

o Locate the top 3 export destinations from the United States? Include
the percentages.

o Identify the top 3 imports to the United States?

o Geographically, distinguish the origins of the top 3 imports to the United

States? Include the percentages.

Step 4: On the side toolbar, click GEO MAP and select

EXPORTS/IMPORTS. Select two products from the dropdown menu.

Which two countries are the largest exporters of each product?

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Which two countries are the largest importers of each product?

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Step 5: Choose one of the most complex products (according to the

website) that you use on a daily basis. Next, your task is to produce
a brief narrative (6-8 sentences) that illustrates your complexity as a
consumer in the 21st century. Please utilize key terms and concepts
that were explored in this activity.