Helping Students make Economic Decision In Belize

Donovan PrattSasha Trapp

Sharlette McClearyTaryn Lennan

What is an Economy?

The wealth and resources of a country or

region, esp. in terms of the production and

consumption of goods and services.

Brief History Of Our Economy.The economy of Belize depended on forestry

until well into the 20th century.Logwood, used to make dye, was Belize's

initial main export.During the 1930's and 1940's the economy

was still based on forestry, but this industry was declining continuously.

During World War II (1939-1945) the industry had revived for a while. Unemployment had also been eased because thousands of workers emigrated to various countries.

• In early 1950, a British reporter reported that population of 60,000 people, 8,000 or nearly a quarter are without work or working part-time, earning less than twelve shillings per week.

• The devaluation of the Belize dollar, on December 31, 1949, resulted in the immediate worsening of the workers' situation.

The People's Committee formed the very night the Belize dollar was devalued.

On September 29, 1950 the People's Committee became the People's United Party (PUP).

From the time of the People's Committee, a strong alliance was formed with the working class movement. The working class was represented by the General Workers Union (GWU).

In October 1952 they called a national strike to protest against the economic conditions which had steadily worsened since devaluation

In the 1950's forestry finally became less important in Belize's economy. The most important change in land use was the shift from an economy based on forestry to one based on agriculture.

In the 1960's, electricity was country-wide.

The second most important crop is citrus. This industry is centred in the Stann Creek Valley. In 1994, the total value of citrus exports was 35.1 million dollars.

Since the 1970's, the fishing industry also became important.

in 1975, the value of exports was $129.7 million, while the value of imports was $185.5 million. The gap was $55.8 million.

In 1994, the trade gap was 226.6 millions.

In 1971, Belize joined the Caribbean Free Trade Association, which in 1974 became the Caribbean Community (CARICOM).

In 2000, tourist arrivals totaled 189,634.

Overview of Belize’s Economy to date.

Cont’.

How does the Economy Affects Belize.When the economy is prospering it affects the

country in a positive way. How?

Jobs are available

Infrastructure is able to develop

Debts are paid

When the economy is not prospering it affects the economy in a negative way. How?

Employers have to downsize staff

Crime goes up

Infrastructure does not develop

Pictures of Belize’s economy.

Belize’s economy compared to another Caribbean country.

Geography: 10,991 sq. Km (4,244 sq.mi.)

Capital: Kingston

Climate: Tropical

Population: 2,868,380

Government: constitutional, parliamentary,

democracy:

Jamaica Cont…Economy: GDP- $13.69 Billion

Natural Resources: Bauxite, limestone,

marble, sand.

Agriculture: sugar cane, bananas, coffee,

citrus.

Trade: (Exports) Alumina, Bauxite, sugar,

Banana, chemicals, citrus fruits, rum, coffee,

Major Markets: U.S.-51%, U.K.-11% Canada-

10%

Imports- Fuels, Machinery, Transportation and electrical equipment, food, fertilizer.

Major Suppliers: US- 38.6 %. T and T- 10.8 %, Venezuela- 12.8%, Japan- 3%, China- 3%, U.K- 2%, Canada-2%.

The Jamaican economy suffered its fourth consecutive year of negative growth in 1999. All sectors excepting bauxite/alumina, energy and tourism shrank in 1998 and in 1999. in 2000 Jamaica experienced its first year of positive growth since 1995.

Jamaican Government economic policies encourage foreign investment in Areas that earn or save foreign exchange, generate employment and use local raw materials.

How to teach economics in Primary Education. Economy is a term used to describe the efficient allocation of resources.

There are two methods by which resources are allocate.

the first uses market forces which determine the price of

goods and services.

the second, is by the government trying to pre-determine how

best the resources can be used.

There are 3 levels of the Economy.

Primary sector

Secondary sector

Tertiary sector

How to teach Economics in Primary Education Using Everyday Classroom Situations

Goods and Services Productive Resources

Using Economics Vocabulary There are not enough desks by the window for everyone. Desks by the window sure are scarce.

What will you give me for these baseball card? What will you exchange for these baseball cards?

How to teach economics in Primary EducationDid we make any money on the class bake sale?Did we make a profit at the class bake sale?

Integrate Economics in different subjects.Language arts Math

Teaching Economics using many activities.

How Children can make good Economic decisions?Introduction to Money Spend, Save, ShareNeeds and WantsIdentifying goods and servicesOpportunity costs