Economic impact of the great depression

Shown is a ticker tape parade held in honor of the Detroit Tigers after winning the World Series.

Economic impact of the great depression

Distribute family background handouts and give students time to read them. For larger classes, to ensure that all students have an active role in the discussion, create double the number of discussion groups, assigning each of the family roles to 2 groups.

Context :: European History

Post the activity directions overhead transparency 2 and review them with students. Distribute the individual role cards and Family Budget worksheets. Allow minutes of work time. You may want to distribute overhead markers and transparencies of the Family Budget worksheets to facilitate the ensuing reporting out and class discussion.

Ask each family to appoint a spokesperson and allow each spokesperson several minutes to report family decisions. What changes did your families make? Did your quality of life or standard of living change? If no family does, point out that it would be an option — for however long the savings held out.

Point out that despite changing income circumstances, they still had choices: Some were unwilling to make those choices because it meant giving up other benefits — like living in Butcherville.

Choice and opportunity cost still exist, even in the face of greater scarcity. Which changes were greater — changes in income or changes in expenditures?

Economic impact of the great depression

Over which did you feel you had more control — income or expenditure? Most students will feel that they had more control over expenditures. If your families are representative, what has happened to the overall level of income in Butcherville?

Distribute large pieces of butcher paper or newsprint and several large point markers to the family groups. Display Visual 3 The Ripple Effect and go over the directions with the students.

Allow family groups minutes to work on their ripple diagrams. Instruct groups to post their charts on the wall when finished.

Convene a class discussion, allowing each group to share what it believes to be both the immediate and the far-reaching effects of its personal decisions about income and consumption.

It reduced the income of others — and therefore affected their ability to consume. Suggest a generalization that describes the relationship between income and expenditure among the members of an economy.

See benchmark for Standard Consequently, an initial change in spending consumption, investment, government, or net exports usually results in a larger change in national levels of income, spending, and output. It is important to help students see that reductions in savings will also have income effects, although the impact may not be quite so immediate as cutbacks in expenditures.

As savings falls, so does investment, resulting in less job creation, etc.The Great Depression: a period associated with the s following the October crash of the stock market that was typified by high unemployment, the closings of .

The Great Depression - Explore this item in our Flash timeline. Share. Intro. Through the s, Britain's economy was already struggling to pay for the effects of World War I. Then, in , the US stock market crashed. World trade slumped, prices fell, credit dried up, and many countries protected their domestic market by taxing. Impact of the Great Depression on the Characters in Tillie Olsen’s novel Yonnondio: From the Thirties The Great Depression of the ’s, which has been called the “invisible scar, the absent presence,” continues to impact American culture (Rabinowitz 17). The Great Depression was very devastating to the American people, including the wealthy and poor alike. It began when the stock market crashed in October of (Black Tuesday).

Great Depression, worldwide economic downturn that began in and lasted until about It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.

Great Depression, worldwide economic downturn that began in and lasted until about It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.

Although the Great Depression engulfed the world economy some 40 years ago, it lives on as a night­mare for individuals old enough to remember and as a frightening specter in the textbooks of our youth.

Some 13 million Americans were unemployed, "not wanted" in the production process. The Great Depression - Explore this item in our Flash timeline.

Effects of Economic Depression

Share. Intro. Through the s, Britain's economy was already struggling to pay for the effects of World War I. Then, in , the US stock market crashed. World trade slumped, prices fell, credit dried up, and many countries protected their domestic market by taxing.

The Global Impact of the Great Depression Thilo Albers Department of Economic History, London School of Economics and Political Science Martin Uebele.

Great Depression Definition | Investopedia