AP Italian: Unit 6 - Global Challenges & Italian Economy 🌍

Hey there! Let's get you prepped for the AP Italian exam with a deep dive into Unit 6. We'll tackle complex issues, Italian economics, and how it all connects. Think of this as your ultimate cheat sheet for the night before the big day! Let's make sure everything clicks!

Unit 6: Core Themes

This unit explores how big global issues affect people in Italian-speaking communities. We're looking at the big picture and how individuals can make a difference. Let's break it down:

• Impact of Challenges: How do environmental, political, and societal issues affect communities both positively and negatively?
• Individual Roles: What can individuals do to address complex problems?
• Cultural Impact: How do these challenges shape a society's culture?

The Italian Economy: A Closer Look 💲💰 💸 🤑

What is the Economy?

The economy is all about a country's wealth and resources, focusing on the production and consumption of goods and services. It's often measured in monetary terms (GDP, GNP). Think of it like a giant system of trade and production.

Italy's Economic Landscape

• Service-Based: Italy's economy is primarily service-based, employing over 65% of the population.
• Manufacturing: Specializes in high-quality goods, often produced by small and medium enterprises.
• Regional Divide: The north is highly industrialized (75% of the country's wealth), while the south is more agricultural and less developed.
• Economic Challenges: Political instability, slow growth (1-2% annually), high unemployment, and significant public debt (5th largest debtor worldwide).

Economic Crises: Impact on Italy 💣 😢

The 2008 Financial Crisis

This was a massive global event that started in the US with the housing market crash. It caused a huge recession, job losses, and a loss of over $2 trillion in global economic growth. It hit Italy hard!

Effects on Italy:

• GDP Drop: Italy's GDP dropped by about 5.5% after the Lehman Brothers bankruptcy.
• Capital Flight: Private capital inflows stopped due to unsustainable government debt.
• Trade Slowdown: Merchandise imports grew less than 1% after 2008. - Unemployment Surge: Unemployment rose to about 8% immediately, peaking at 13% in 2013, with youth unemployment reaching 28%.

The COVID-19 Pandemic of 2020 😷 😷

This global pandemic has caused severe economic damage worldwide. Italy, being one of the first countries to be hit hard, has suffered greatly.

Effects on Italy:

• Public Debt: Public debt is projected to reach 160% of GDP.
• GDP Decline: GDP is expected to drop by up to 18% by June 2021. - Job Losses: Over 3 million workers were laid off from over 178,000 companies.
• Recession Risk: Italy is at risk of entering its fourth recession in a decade.

Coronavirus Outbreak in Milan, photo courtesy of Business Insider.

Empty restaurant tables in St. Mark's Square, Image Courtesy of World Economic Forum

Government Responses

The Italian government has taken measures to help people and stimulate the economy:

• Emergency Income: Provided to over 3 million people.
• Community Support: City food stores and people have banded together to provide free food and support.
• Rescue Packages: Provided to companies and homeowners.

Solutions: Global and Italian 💡

Global Scale Solutions

One of the biggest global issues is income inequality 🤛🏼 🤜🏼, the gap between the rich and the poor. Here are some possible solutions:

• Human Rights: Countries must respect human rights obligations in international treaties.
• Reproductive Health: Young women must have access to sexual and reproductive health services.
• Prioritize Women: Focus on women in poor families.
• Universal Basic Income: Provide a basic income that covers essential services.
• Progressive Policies: Adopt policies to accelerate income growth among the poorest 40%.
• Measure Inequality: Increase technology to measure all dimensions of inequality.
• Education: Education, education, education! 🏫. 📚

Solutions for Italy

Italy needs to address its specific economic issues:

• Political Reform: Reform the political system for more stability and fewer political parties.
• Euro System: Consider abandoning the Euro system to potentially lower wages and increase exports.
• Banking System: Repair the banking system 🏦.
• Tax Reform: Reorganize and restructure taxes to generate more economic growth.
• Job Security: Make it harder to fire workers without specific reasons.

Strive for Five Vocab 🔑 🔑

Here’s a quick vocab list to help you ace the exam:

• La recessione - recession
• Disoccupato/a - unemployed
• I risparmi - savings
• Il reddito - revenue/income
• La disuguaglianza - inequality
• Il debito - debt
• La crescita/ il declino - growth/decline
• Essere in bancarotta - to be bankrupt
• L'industrializzazione - industrialization
• Fabbricare - to manufacture
• I prodotti - products
• Le aziende/ le imprese - companies/businesses
• I consumatori - consumers

High-Priority Topics:

• Italian Economy: Understand its structure, strengths, and weaknesses.
• Economic Crises: Know the causes and impacts of the 2008 crisis and the COVID-19 pandemic on Italy.
• Global Issues: Be able to discuss income inequality and potential solutions.
• Vocabulary: Master key economic terms.

Common Question Types:

• Multiple Choice: Expect questions on economic data, causes and effects of crises, and vocabulary.
• Free Response: Be prepared to analyze the impact of economic events on Italian society and propose solutions.

Last-Minute Tips:

• Time Management: Don't spend too long on any one question. Move on and come back if you have time.
• Common Pitfalls: Avoid vague answers. Use specific examples and data to support your points.
• Strategies: Read questions carefully, plan your responses, and review your work if time permits.

Practice Question

Practice Questions

Multiple Choice Questions

1. Quale settore contribuisce maggiormente al PIL italiano? a) Agricoltura b) Manifattura c) Servizi d) Turismo

2. Quale evento ha causato una significativa recessione economica in Italia nel 2008? a) La crisi del debito greco b) Il fallimento di Lehman Brothers c) La pandemia di COVID-19 d) L'aumento dei prezzi del petrolio

3. Qual è una delle principali sfide economiche che l'Italia deve affrontare? a) Bassa inflazione b) Alto tasso di occupazione c) Elevato debito pubblico d) Crescita economica rapida

Free Response Question

Analizza l'impatto della pandemia di COVID-19 sull'economia italiana. Discuti almeno tre conseguenze economiche e proponi due possibili soluzioni per la ripresa economica. (10 punti)

Punto per punto:

1. Introduzione (1 punto): Breve introduzione che menziona la pandemia e il suo impatto sull'economia italiana.
2. Conseguenza 1 (2 punti): Descrizione dettagliata di una conseguenza economica (es. aumento del debito pubblico).
3. Conseguenza 2 (2 punti): Descrizione dettagliata di una seconda conseguenza economica (es. calo del PIL).
4. Conseguenza 3 (2 punti): Descrizione dettagliata di una terza conseguenza economica (es. aumento della disoccupazione).
5. Soluzione 1 (1 punto): Proposta di una soluzione per la ripresa economica (es. investimenti in settori chiave).
6. Soluzione 2 (1 punto): Proposta di una seconda soluzione per la ripresa economica (es. riforma del sistema fiscale).
7. Conclusione (1 punto): Breve conclusione che riassume l'impatto e le soluzioni.