Lesson 39: The World Trade After WWII: The EU, NAFTA, and the WTO

The students participate in a trading simulation that illustrates the consequences of voluntary trade among individuals in increasingly large groups. They apply insights from this experience in an analysis of international trade after World War II, especially as it has been enhanced by the establishment of the European Union, the North American Free Trade Agreement and the World Trade Organization.

Concepts:

Voluntary trade, Tariff, Gross domestic product (GDP), Unemployment
National Content Standards in Economics:
  • Standard #5: Trade