Should Countries Include Black Market Figures In Their GDP?

 

Introduction:

          There are several options available to countries when they report their economic health.  Gross Domestic Product (GDP) is the most common way countries report their economic health.  But, when countries make these reports are they actually including all of the economic data for their country or is a portion conspicuously omitted?

          This webquest is designed to help you evaluate economic data (specifically GDP) and whether or not so-called black market figures should be included in GDP.  In order to accomplish this task you will evaluate one country.

 

Task:

          Your job, as a group, will be to present your proposal (since you are cabinet members of your assigned country’s government) as to why your country should or should not include black market figures in its GDP.  You will gather all of your necessary materials and information and construct a final report (in power point) about your findings.

 

Process:

  1. In order for the task to be accomplished it will be necessary to divide the work among yourselves.  Therefore, you will be placed into groups of 4 and each of you must choose 1 of the following roles:

·        Secretary of Presentation à presents findings to the class

·        Secretary of Research à gathers all necessary data

·        Secretary of Writing à compiles data for presenter

·        Secretary of Design à creates the layout for any visuals

 

Keep in mind that just because you have a particular role does not mean that you can not aide another group member with their job.  Remember that a good governmental cabinet is one that works together!!!

 

  1. Your group will be assigned a country to research.

 

Afghanistan

 

Pakistan

India

 

China

 

Nigeria

 

South Africa

 

Egypt

 

Columbia

 

Sierra Leone

 

Liberia

 

Iran

 

United States of America

 

England

 

Italy

 

Indonesia

 

Thailand

 

Russia (formerly USSR)

 

Georgia

 

 


 

3.  Research à When your group is researching your country you should focus on its economic history.  While a country’s economic history is tied to its political history you should not focus solely on its political history.

 

4.   Construct your final presentation.

 

Resources:

        You are welcome to use any creditable resources you find either offline or online.

 

Offline

  1. Encyclopedias
  2. Media Center/Library books
  3. Your textbook

 

Online – Individual Countries

  1. https://www.cia.gov/cia/publications/factbook/
  2. http://en.wikipedia.org/wiki/Main_Page
  3. http://www.historyworld.net/
  4. http://www.hartford-hwp.com/archives/60/index.html
  5. http://www.factmonster.com/encyclopedia/history.html
  6. http://www.historyteacher.net/GlobalStudies/Africa_ModernHistory.htm
  7. http://www.cdi.org/russia/johnson/8251-17.cfm

 

Online - Economics

  1. http://www.auburn.edu/~johnspm/gloss/ 
  2. http://www.ce-review.org/00/40/vaknin40.html 
  3. http://www.cdi.org/russia/johnson/8251-17.cfm
  4. http://www.investopedia.com/
  5. http://www.econlib.org/index.html
  6. www.forbes.com

 

Online – Journal Articles (You will need Adobe Acrobat to view some of the articles.)

  1. Black Market and the Mob in Italy
  2. Black Market in Africa
  3. Black Market and Corruption
  4. Black Market and Taxation
  5. Columbia's Black Market
  6. GDP and the Black Market
  7. The United States and the Black Market
  8. Georgia's Black Market
  9. Inequality and the Underground Economy
  10. Interview with Noam
  11. Italy's Black Market
  12. Russia's Black Market
  13. Shadow Economy
  14. Shadow Economy and the Government

 

Evaluation by Teacher:

 

Category

Excellent (20 points)

Good (15 points)

Fair (10 points)

Poor (5-0 points)

Preparedness

Student is completely prepared and has obviously rehearsed.

Student seems pretty prepared but might have needed a couple more rehearsals.

The student is somewhat prepared, but it is clear that rehearsal was lacking.

Student does not seem at all prepared to present.

Stays on Topic

Stays on topic all (100%) of the time.

Stays on topic most (99-90%) of the time.

Stays on topic some (89%-75%) of the time.

It was hard to tell what the topic was.

Comprehension

Student is able to accurately answer almost all questions posed by classmates about the topic.

Student is able to accurately answer most questions posed by classmates about the topic.

Student is able to accurately answer a few questions posed by classmates about the topic.

Student is unable to accurately answer questions posed by classmates about the topic.

Content

Shows a full understanding of the topic.

Shows a good understanding of the topic.

Shows a good understanding of parts of the topic.

Does not seem to understand the topic very well.

Originality

Presentation shows considerable originality and inventiveness. The content and ideas are presented in a unique and interesting way.

Presentation shows some originality and inventiveness. The content and ideas are presented in an interesting way.

Presentation shows an attempt at originality and inventiveness on 1-2 cards.

Presentation is a rehash of other people's ideas and/or graphics and shows very little attempt at original thought.

Sequencing of Information

Information is organized in a clear, logical way. It is easy to anticipate the type of material that might be on the next card.

Most information is organized in a clear, logical way. One card or item of information seems out of place.

Some information is logically sequenced. An occasional card or item of information seems out of place.

There is no clear plan for the organization of information.

Use of Graphics

All graphics are attractive (size and colors) and support the theme/content of the presentation.

A few graphics are not attractive but all support the theme/content of the presentation.

All graphics are attractive but a few do not seem to support the theme/content of the presentation.

Several graphics are unattractive AND detract from the content of the presentation.

Cooperation

Group delegates tasks and shares responsibility effectively all of the time.

Group delegates tasks and shares responsibility effectively most of the time.

Group delegates tasks and shares responsibility effectively some of the time.

Group often is not effective in delegating tasks and/or sharing responsibility.

 

Evaluation by Group Members:

Your Name: __________________________________________

 

Group Members Names

Excellent (40 points)

Very Good (30 points)

Good (20 points)

Fair (10 points)

Poor (0 points)

 

 

Contributed 90% – 100% of the time.

Contributed 75% – 89% of the time.

Contributed 60% – 79% of the time.

Contributed 25% – 59% of the time.

Contributed less than 25% of the time.

 

 

Contributed 90% – 100% of the time.

Contributed 75% – 89% of the time.

Contributed 60% – 79% of the time.

Contributed 25% – 59% of the time.

Contributed less than 25% of the time.

 

 

Contributed 90% – 100% of the time.

Contributed 75% – 89% of the time.

Contributed 60% – 79% of the time.

Contributed 250% – 59% of the time.

Contributed less than 25% of the time.

 

Contributed 90% – 100% of the time.

Contributed 75% – 89% of the time.

Contributed 60% – 79% of the time.

Contributed 25% – 59% of the time.

Contributed less than 25% of the time.

 

Conclusion:

          Congragulations!  I hope your leader takes your advice as to whether or not black market figures should be included in your country’s GDP. 

 

          In this endeavor you learned how to work with several people at one time who all had different jobs yet were working toward the same goal.  You also learned how to utilize your time efficiently since you had to collect research data and create your proposal.  Moreover, you have now become more proficient at using Microsoft Power Point since your proposal had to in that format.

 

Somethings to thing about:

A creative economy is the fuel of magnificence”  à Ralph Waldo Emerson

 

People want economy and they will pay any price to get it.”  à  Lee Iacocca

 

“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it” à Ronald Reagan

 

True individual freedom cannot exist without economic security and independence. People who are hungry and out of a job are the stuff of which dictatorships are made.”  à Franklin D. Roosevelt

 

The gap in our economy is between what we have and what we think we ought to have - and that is a moral problem, not an economic one.”  à Paul Heyne