This strand examines Caribbean trade relationships, major regional companies, agricultural changes since 1900, the evolution of transportation and communication networks, family connections across islands, and how freedom of movement supports regional economic development. Students explore how economic decisions shape Caribbean society and understand the benefits of regional economic cooperation.
Students will understand Caribbean trade relationships, agricultural development, transportation networks, and how economic decisions affect daily life across the region.
Students investigate major regional companies operating in the Caribbean, distinguish between foreign, regional, and national company ownership, and explore locally owned businesses and their importance to Caribbean economies.
By the end of Grade Five, the learner will be expected to:
Inclusive approaches for diverse learners
Key Economic Terms: Barter (exchange of goods without money), Trade (buying and selling goods and services), Embargo (government restriction on trade), Currency (money used for exchange), Balance of Trade (difference between imports and exports), Imports (goods brought into a country), Exports (goods sent to other countries).
Agricultural Changes: Caribbean agriculture has shifted from plantation-dominated sugar and banana production to more diversified farming including vegetables, fruits, and organic produce. Challenges include climate change, competition from larger producers, and the need for food security. The "25 by 25" initiative aims to reduce food imports by 25% by 2025.
Transportation Evolution: Caribbean transportation has evolved from sailing ships to steamships to modern container shipping and air travel. LIAT (now Caribbean Airlines partnerships), regional ferry services, and improved port facilities have enhanced connectivity. Communication has evolved from postal services to telegraph, telephone, and now digital networks and fiber optic cables.
Regional Companies: Major regional companies include Caribbean Airlines (transportation), LIME/Flow (telecommunications), Courts/UNICOMER (retail), Republic Bank and Scotiabank (banking), Grace Kennedy (food and financial services), and various tourism conglomerates. Understanding ownership patterns helps students appreciate economic relationships.
