Donovan Pratt
Sasha Trapp
Sharlette McCleary
Taryn 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
Education
 Did 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, Share
 Needs and Wants
 Identifying goods and services
 Opportunity costs