Social Studies - 2019-20

WG.17 c - Mapping, Describing, and Evaluating Economic Unions

The student will apply social science skills to analyze the impact of globalization by 

c) mapping, describing, and evaluating economic unions.

Adopted: 2015

BIG IDEAS

Theme: Globalization + Interdependence

How do people respond to the unequal distribution of resources?

Do the benefits of globalization and interdependence outweigh the cost?


UNDERSTANDING THE STANDARD

As a global society, the world is increasingly interdependent. 

Economic interdependence fosters the formation of economic unions. 

ESSENTIALS

Economic interdependence can be depicted through trade, resource, or transportation maps. 

Examples of economic unions 

  • EU: European Union 
  • NAFTA: North American Free Trade Agreement
  • ASEAN: Association of Southeast Asian Nations
  • OPEC: Organization of the Petroleum Exporting Countries 

Advantages of economic unions 

  • More efficient industries 
  • Access to larger markets 
  • Access to natural, human, and capital resources without restrictions 
  • Greater influence on the world market 

Disadvantages of economic unions 

  • Closing of some industries 
  • Concentration of some industries in certain countries, leaving peripheral areas behind 
  • Difficulty in agreeing on common economic policies

KEY VOCABULARY

Updated: Jun 13, 2018