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2025 T1 Gr11 Intro 1920s in USA

UNIT 3: THE GREAT DEPRESSION 1929-1941

Overview

  • Focuses on the impact and causes of the Great Depression across the Americas from 1929 to 1941.

IB SYLLABUS

Key Topics

  • Causes of the Great Depression in the Americas (mid 1920s–1939)

  • Solutions in the U.S.: Hoover, Franklin D. Roosevelt, and the New Deal

  • Criticism and impact of the New Deal on U.S. political and economic structures

  • Responses in Canada: Mackenzie King and R.B. Bennett

  • Effects on Latin America: political instability, challenges to democracy, and economic/social issues

  • Latin American strategies: Import Substitution Industrialization (ISI) and social policies

  • Societal impact: roles of women, minorities, and arts during the Great Depression

STUDENT ACTIVITIES

Reflection Exercise

  • Write three known facts about the Great Depression.

  • Identify two unknown aspects.

  • Formulate one question related to the topic.

LEARNING OBJECTIVES

  • Understand the causes and nature of the Great Depression.

  • Explore government solutions in various countries.

  • Analyze the social impacts of the Great Depression.

DEFINITION OF THE GREAT DEPRESSION

  • Notable as the most severe economic collapse in the history of the Americas, lasting throughout the 1930s.

  • Key effects included unprecedented bank failures, high unemployment, and significant industrial/agricultural declines.

  • Resulted in a critical reassessment of existing economic and political systems.

  • Sparked adaptations in political and economic development across affected regions.

CASE STUDIES IN THE AMERICAS

United States

  • The Great Depression's influence extended beyond the U.S., impacting the entire American continent.

Canada

  • GNP fell by 40% with 27% workforce unemployed by 1933.

Latin America

  • Dependency on U.S. and Western Europe led to dramatic drops in exports:

    • Bolivia and Peru: over 70%

    • Argentina: 65%

    • Brazil: 60%

SKILLS DEVELOPMENT

Paper 1 (DBQ) Skills

  • Analyzing sources for their meanings

  • Evaluating sources for value and limitations

  • Comparing and contrasting information

  • Using sources effectively to support arguments

ESSENTIAL VOCABULARY

Economic Producers

  • Primary Producers: Engage in growing, harvesting, or extracting food and raw materials.

  • Secondary Producers: Focus on manufacturing and processing goods.

Economic Terms

  • Demand: Buyer willingness to pay for goods/services.

Inflation & Deflation

  • Inflation: Rising prices.

  • Deflation: Falling prices.

  • Notable instance: Hyperinflation in Weimar Republic (1921-23).

Globalization

  • 1st Wave (1860-1914): Industrial revolution increased global trade interconnectivity, affecting all countries when the Great Depression hit.

Exchange Rate

  • Refers to the value of one currency in relation to another.

Gold Standard

  • Commitment of a country’s central bank to exchange currency for gold.

Free Trade

  • Trade policy with no restrictions on imports or exports.

Protection Tariffs

  • Taxes imposed on imported goods from other nations.

ECONOMIC SYSTEMS

Capitalism

  • Economic system based on privately owned capital (means of production).

Laissez-Faire

  • Government hands-off approach to economic planning, allowing free markets to operate without interference.

Stocks and Shares

  • Companies raise money by selling part-ownership through shares in stock markets.

Federal Reserve

  • The U.S. central banking system established in 1913, responsible for setting monetary policy.