About This Lesson
In this hypothetical simulation from Model Diplomacy, students will role-play as members of the U.S. National Security Council (NSC) to deliberate and debate global effects of a financial crisis.
Concepts
- International economic policy
- Monetary and fiscal union
- Multilateralism
- Financial crises and contagion
- Banking runs
Issues
- Debates surrounding economic austerity
- Current and future challenges in the EU and eurozone
- Role of international financial institutions and central banks
- Interconnectedness of the global financial system
- Rise of radical political parties in Europe
The Situation
One of France’s largest banks needs a bailout that its government likely cannot provide, a situation that is roiling global markets. The NSC meets to recommend to the president how the United States should respond. The emerging financial contagion in Europe threatens to infect some U.S. banks. Furthermore, the European Union (EU) is Washington’s largest trading partner and has long worked with the United States to address global political challenges. With Europe expected to enter an economic downturn as a result of the financial crisis, and the unity of the EU and the eurozone challenged by the rise of extremist anti-EU parties in many countries, U.S. interests in the region are at risk.
About
Model Diplomacy is a free simulation program that invites students, educators, and professionals to step into the roles of decision-makers in the U.S. National Security Council (NSC) or UN Security Council (UNSC). Model Diplomacy simulations help students develop critical thinking, persuasive speaking and writing, and collaboration skills, all while giving them hands-on experience grappling with the challenges of our modern, globalized world.
CFR Education is an initiative within the Council on Foreign Relations that aims to make complex foreign policy and international issues accessible for middle, high school, and college students through its educational products: World101, Model Diplomacy, and Convene the Council.
