Objectives

(5 - 7 minutes)

1. To provide students with a basic understanding of International Trade and Finance. This includes a broad comprehension of why countries trade, how trade is conducted, and the role of international finance in enabling this exchange.

2. To ensure students understand the concept of the exchange of goods, services, and capital across international borders. This involves understanding what goods and services are traded, why they are traded, and how the movement of capital facilitates this process.

3. To engage students in thinking about the implications of International Trade and Finance on their daily lives, their country, and the world at large. This encourages students to think critically about the functioning of global economics and its impact on various aspects of society and the environment.

Secondary objectives:

1. To instill in students the ability to analyze news and data related to International Trade and Finance. This will enhance their ability to understand and critically assess related information they come across in the media or other sources.

2. To foster group work and discussion skills among students by encouraging them to learn collaboratively. This could involve group assignments and in-class discussions where students can share their understandings and challenge each other's views in a respectful and constructive manner.

Introduction

(8 - 10 minutes)

1. Teacher starts by reminding students about the basics of domestic trade they have learned previously. This includes the exchange of goods and services within one country, why people and businesses trade, and the role of money in facilitating this trade. This mini-review will help set the foundation for understanding the more complex concept of International Trade and Finance.

2. Teacher poses two hypothetical scenarios to the students to pique their interest and stimulate their thinking:

   • Scenario 1: "Imagine you're a producer of smartphones in the United States, and you want to sell your products in Japan. What are some of the things you need to consider? How would you get your products there? What about pricing and payment methods?"

   • Scenario 2: "Think about the clothes you’re wearing now. Look at the tags and see where they were made. Most of them probably were not made in your own country. Why do you think this is the case? What benefits do we get from being able to buy products made in other countries?"

3. Teacher contextualizes the importance of International Trade and Finance by discussing its real-world applications. They emphasise that it's not just about businesses buying and selling products overseas. It impacts everything from the prices we pay for goods to the availability of jobs, the health of our nation's economy, and even our relations with other countries.

4. Teacher introduces the topic of International Trade and Finance by showing a short, engaging video or a slideshow about the global movement of goods, services, and finance. They emphasize interesting facts like:

   • Fact 1: "Did you know that the global value of exported goods was over 19 trillion dollars in 2019? That's bigger than the entire economy of the United States!"

   • Fact 2: "Or that China, the United States, and Germany are the world's top three exporters? But tiny nations like Luxembourg and Malta are some of the world's top exporters per capita."

By the end of this introduction, the students should have a clear understanding of what International Trade and Finance is, why it's important, and some of the key issues and facts related to this topic.

Development

Pre-Class Activities (15 - 20 minutes)

1. Students are assigned to watch two short videos the teacher has chosen on International Trade & Finance basics and the real-world example of a specific trade deal between two countries or the economic relationship between two countries. These videos can be found online on educational websites or video-sharing platforms.

2. After watching the videos, each student will have to take a small online quiz designed by the teacher through a platform like Google Forms, where they respond to a set of multiple choice or true/false questions linked to the videos' content. These questions aim to test their understanding of the subject and to encourage them to think more critically about it.

3. As a further pre-class task, students are asked to find a news article that discusses a recent international trade deal or an international economic event. They write a brief summary of the article, highlighting the key points and adding their own thoughts or questions about these events. Submissions could be facilitated through an online platform used by the school or sent directly to the teacher via email.

In-Class Activities (18 - 20 minutes)

1. "Import-Export Trading Game": The teacher assigns students to small groups, equally distributed. Each group is assigned a different "country" represented by a card that has different goods or resources listed that the country can produce.

   • Each group gets 15 minutes to organize a winning trade strategy: what they will export, what they will import, and from who. Groups can negotiate trade agreements with one another. The winning group would be the one with the most balanced trade (with a mix of different goods) and the highest overall resource value.

   • After each group has made their trading decisions, there's a general assembly where each country presents their decisions, justifying why they chose a specific trade strategy. This should spark a classroom discussion on the complexities and strategies guiding international trade.

2. "International Incident Resolution": Continuing from the Trading Game, the teacher introduces a hypothetical 'international incident' scenario, like a natural disaster or a sudden change in geopolitical relationships that disrupt the country's ability to trade a particular good.

   • Students have to quickly adapt and negotiate new deals to balance their trading strategy. This brings in the aspect of international finance and highlights how real-world events can impact trade and economies.

3. At the end of the class, each student shares their thoughts or remarks about the news article they selected at the start of the class. The teacher encourages a discussion on these different international incidents or deals, linking it back to the concepts learned in their videos.

In all these activities, the teacher plays the role of a facilitator, guiding the students as needed, and ensuring the discussions remain constructive and focused on the topic. This final sharing stage helps the students to apply their learning and understanding to real-world scenarios and issues and understand the complexities and implications of International Trade and Finance.

Feedback

(5 - 8 minutes)

1. Teacher initiates a group discussion by asking each group to share their solutions or conclusions from the in-class activities, with each group given a maximum of 3 minutes to present. This helps to encourage public speaking skills and the ability to clearly and succinctly explain their strategies and thoughts.

2. Teacher follows up by asking probing questions to each group about their strategies/decisions, such as "Why did you decide to trade these goods?" or "How did you manage the sudden 'international incident'?" This is to encourage students to think deeper about their strategies and the concepts behind their decisions.

3. The teacher then links back these group activities to the theoretical concepts they learned in the pre-class videos. For example, if a group chose to import more of a particular good because it was cheaper, the teacher could explain the concept of comparative advantage or economies of scale. If a group negotiated a trade agreement with another group, the teacher could discuss the concept of trade agreements and how they benefit countries.

4. The teacher then encourages a class-wide discussion, getting different groups to comment on each other's strategies and decisions. This not only reinforces the concepts learned but also fosters a collaborative learning environment where students learn from each other.

5. To conclude the feedback session, the teacher encourages the students to reflect on what they've learned in this lesson. They ask the students to individually answer two reflective questions:

   • "What was the most important concept you learned today?"
   • "What questions do you still have about International Trade and Finance?"

6. Students are given a few minutes to think about these questions and write down their answers. They can either submit these answers to the teacher or share them with the class if they feel comfortable.

7. The teacher collects these answers and uses them to tailor future lessons, address any lingering questions or misconceptions, and assess the success of the lesson plan in meeting its objectives.

This feedback stage is vital as it gives students the space to reflect on their learning, practice their communication skills, and solidify their understanding of the concepts. It also allows the teacher to gauge the effectiveness of the lesson and make improvements for future lessons.

Conclusion

(5 - 7 minutes)

1. The teacher begins by summarizing the key points discussed during the lesson. This includes the definition of International Trade and Finance, the reasons countries trade, the role of international finance, and the impact of these on the global economy.

2. The teacher then recaps how the lesson linked theory to practice. They refer back to the pre-class activities where students watched videos and read articles to understand the basics and real-world application of International Trade and Finance. They also point out how the in-class activities allowed students to apply these concepts in a simulated environment, and how the group discussions helped strengthen their theoretical understanding.

3. To further complement students' understanding, the teacher suggests additional resources. These could include more detailed videos, articles, and books on International Trade and Finance. They could also recommend relevant documentaries or news websites that cover international economic events. The teacher emphasizes that these resources are optional but highly beneficial for students interested in deepening their knowledge of the subject.

4. The teacher gives examples of how International Trade and Finance is relevant in everyday life. They discuss how it impacts the price and availability of goods we use daily, influences our job market, and shapes our country's economic health. They could also mention how understanding this topic helps make sense of news about trade deals, tariffs, or international economic events.

5. The teacher concludes the lesson by reminding students that the world is more interconnected than ever, and International Trade and Finance plays a significant role in this. They encourage students to keep an eye on the news and apply the concepts they've learned to understand the global economic events happening around them.

6. Finally, the teacher thanks the students for their active participation and encourages them to reach out if they have any further questions or need clarification on any points. They also remind students about the next lesson and any preparatory work needed for it. This concludes the lesson on International Trade and Finance.