Chapter 26: Development of Economic Systems "The World Bank"

Introduction

In this chapter students learned about the various economic systems used in the world today—capitalism, socialism, communism, and mixed systems—as well as the economic problems that challenge the many developing nations of our world. In this activity they will take a closer look at an agency that seeks to encourage growth and development in these emerging economies—the World Bank.

Lesson Description

Students will visit the World Bank Group's Web site to learn more about the mission and activities of this organization. After answering questions about the goals and membership of the World Bank, students will create a chart comparing three developing nations assisted by this agency.

Instructional Objectives

1. Students will be able to state the goals and purpose of the World Bank.
2. Students will be able to examine data and create a chart based on this data.

Student Web Activity Answers

1. Its mission is to fight poverty, to help people help themselves and their environment, and to be a quality institution with a diverse and committed staff. It assists developing economies financially and shares ideas to improve living standards and eliminate the worst forms of poverty.
2. There are 184 member countries. Each appoints a Governor and an Alternate Governor to carry out its responsibilities. The Governors meet each fall at the Bank's annual meeting to decide on key policy issues, admit or suspend country members, decide on changes in the authorized capital stock, determine the distribution of the IBRD's net income, and endorse financial statements and budgets.
3. The World Bank looks for programs that show countries are committed to fight poverty and will focus on performance.
4. Students' answers will vary.
5. Students' charts will vary.