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.