Economics Wisconsin

Home


Wisconsin Economic Standard
D.8.3

Specialization and Trade

Describe Wisconsin's role in national and global economies and give examples of local economic activity in national and global markets

Economic Concepts
Goods  ||  Services  ||  Exports  ||  Imports

green line

green line

Links to Content Information

blue check mark The exchange of goods and services and connections with the world.  This description and student activity are based on Maryland, but could be revised for use in Wisconsin.  For grades 4-5. 
blue check mark FedStats - More than 70 agencies in the United States Federal Government produce statistics of interest to the public. The Federal Interagency Council on Statistical Policy maintains this site to provide easy access to the full range of statistics and information produced by these agencies for public use.  See especially section on Regional Statistics.
blue check mark Living Standards Measurement Study of the World Bank (LSMS) - Living Standards Measurement Study (LSMS) household surveys have become an important tool in measuring and understanding poverty in developing countries. The Development Economics Research Group (DECRG) of the World Bank maintains this website to make the information from these surveys available to researchers around the world.
blue check mark U.S. Department of Commerce - The Department of Commerce promotes job creation, economic growth, sustainable development and improved living standards for all Americans by working in partnership with business, universities, communities and workers.
blue check mark U.S. International Trade in Goods and Services, from the U.S. Census Bureau - This page links to exhibits showing the amount of goods and services in foreign trade by several categories.
blue check mark Wisconsin Agricultural Statistics Publications - From the U.S. Department of Agriculture
National Agricultural Statistics Service.
blue check mark Wisconsin by Business Categories - Links to data about Gross State Product, Venture Capital, etc.

green line

Links to Lesson Plans and other Suggested Teaching Strategies

blue arrow Environment and Conservation: JAPAN - Grades 5-8. Use the Resource Distribution simulation in this plan from Ask Asia to teach concepts of international trade. 
blue arrow Why Nations Trade - Middle and High School level.  After discussing the concept of comparative advantage, students in small groups engage in a simulation on the economic costs and benefits of trade. From Focus on Economics: Geography, ©National Council on Economic Education.

green line

List of Curricular Materials and Learning Activities

blue push pin Focus: Middle School Economics from Economics America (search catalogue), available from Economics Wisconsin.  Relevant lessons: 
  • Unit 4, Lesson 13: An Island Economy - Students participate in a "readers' theater" play to learn about gross domestic product. 
  • Unit 6, Lesson 16:  Frontier Specialists - Using a simulation about frontier families, this lesson helps students gain an understanding of the benefits of specialization and how comparative advantage forms the basis for exchange in a market economy.
blue push pin Focus: International Economics, from Economics America (search catalogue), available from Economics Wisconsin. Lesson 7:  World Trade - Students observe the patterns and direction of trade.  These observations allow them to understand some of the forces that give rise to international trade.  p.51

green line

National Content Standards 5 and 6.

    Scroll down the linked pages to locate the grade 8 benchmarks. 

green line

Email an expert

green line

Developed by 
Lynn Kirby, Ph.D.
Larry Weiser, Ph.D.