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Helping Students make Economic Decision In Belize

Helping Students make Economic Decision In Belize . Donovan Pratt Sasha Trapp Sharlette McCleary Taryn Lennan. What is an Economy?. The wealth and resources of a country or region, esp. in terms of the production and consumption of goods and services.

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Helping Students make Economic Decision In Belize

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  1. Helping Students make Economic Decision In Belize Donovan Pratt Sasha Trapp Sharlette McCleary Taryn Lennan

  2. What is an Economy? • The wealth and resources of a country or region, esp. in terms of the production and consumption of goods and services.

  3. Brief History Of Our Economy. • The economy of Belize depended on forestry until well into the 20th century. • Logwood, used to make dye, was Belize's initial main export. • During the 1930's and 1940's the economy was still based on forestry, but this industry was declining continuously.

  4. During World War II (1939-1945) the industry had revived for a while. Unemployment had also been eased because thousands of workers emigrated to various countries. • In early 1950, a British reporter reported that population of 60,000 people, 8,000 or nearly a quarter are without work or working part-time, earning less than twelve shillings per week. • The devaluation of the Belize dollar, on December 31, 1949, resulted in the immediate worsening of the workers' situation.

  5. The People's Committee formed the very night the Belize dollar was devalued. • On September 29, 1950 the People's Committee became the People's United Party (PUP). • From the time of the People's Committee, a strong alliance was formed with the working class movement. The working class was represented by the General Workers Union (GWU).

  6. In October 1952 they called a national strike to protest against the economic conditions which had steadily worsened since devaluation • In the 1950's forestry finally became less important in Belize's economy. The most important change in land use was the shift from an economy based on forestry to one based on agriculture.

  7. In the 1960's, electricity was country-wide. • The second most important crop is citrus. This industry is centred in the Stann Creek Valley. In 1994, the total value of citrus exports was 35.1 million dollars. • Since the 1970's, the fishing industry also became important. • in 1975, the value of exports was $129.7 million, while the value of imports was $185.5 million. The gap was $55.8 million. • In 1994, the trade gap was 226.6 millions.

  8. In 1971, Belize joined the Caribbean Free Trade Association, which in 1974 became the Caribbean Community (CARICOM). • In 2000, tourist arrivals totaled 189,634.

  9. Overview of Belize’s Economy to date.

  10. Cont’.

  11. How does the Economy Affects Belize. • When the economy is prospering it affects the country in a positive way. How? • Jobs are available • Infrastructure is able to develop • Debts are paid

  12. When the economy is not prospering it affects the economy in a negative way. How? • Employers have to downsize staff • Crime goes up • Infrastructure does not develop

  13. Pictures of Belize’s economy.

  14. Belize’s economy compared to another Caribbean country. Geography: 10,991 sq. Km (4,244 sq.mi.) Capital: Kingston Climate: Tropical Population: 2,868,380 Government: constitutional, parliamentary, democracy:

  15. Jamaica Cont… • Economy: GDP- $13.69 Billion • Natural Resources: Bauxite, limestone, marble, sand. • Agriculture: sugar cane, bananas, coffee, citrus. • Trade: (Exports) Alumina, Bauxite, sugar, Banana, chemicals, citrus fruits, rum, coffee, • Major Markets: U.S.-51%, U.K.-11% Canada-10%

  16. Imports- Fuels, Machinery, Transportation and electrical equipment, food, fertilizer. • Major Suppliers: US- 38.6 %. T and T- 10.8 %, Venezuela- 12.8%, Japan- 3%, China- 3%, U.K- 2%, Canada-2%.

  17. The Jamaican economy suffered its fourth consecutive year of negative growth in 1999. All sectors excepting bauxite/alumina, energy and tourism shrank in 1998 and in 1999. in 2000 Jamaica experienced its first year of positive growth since 1995. • Jamaican Government economic policies encourage foreign investment in Areas that earn or save foreign exchange, generate employment and use local raw materials.

  18. How to teach economics in Primary Education. • Economy is a term used to describe the efficient allocation of resources. • There are two methods by which resources are allocate. the first uses market forces which determine the price of goods and services. the second, is by the government trying to pre-determine how best the resources can be used. • There are 3 levels of the Economy. Primary sector Secondary sector Tertiary sector

  19. How to teach Economics in Primary Education Using Everyday Classroom Situations • Goods and Services • Productive Resources Using Economics Vocabulary • There are not enough desks by the window for everyone. • Desks by the window sure are scarce. • What will you give me for these baseball card? • What will you exchange for these baseball cards?

  20. How to teach economics in Primary Education • Did we make any money on the class bake sale? • Did we make a profit at the class bake sale? Integrate Economics in different subjects. • Language arts • Math • Teaching Economics using many activities.

  21. How Children can make good Economic decisions? • Introduction to Money • Spend, Save, Share • Needs and Wants • Identifying goods and services • Opportunity costs

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