Curriculum Switzerland's Economy
Switzerland's Economy
How a small, mountainous, resource-poor country became one of the richest: an overview, the end of banking secrecy, the franc as a safe haven, the 2015 franc shock, watches and the quartz crisis, pharma giants, direct democracy, cantonal tax competition, apprenticeships, the debt brake, Credit Suisse's fall and the India-EFTA deal.
- Switzerland at a Glance An overview of Switzerland's economy - high incomes, specialised exports, finance and innovation - despite few natural resources. 📄 Read-aloud
- Banking Secrecy and Its End How Swiss banking secrecy, formalised in 1934, attracted wealth from around the world, and how US pressure and global tax transparency ended it after 2008. 📄 Read-aloud
- The Swiss Franc as a Safe Haven Why investors buy Swiss francs during global crises, how this pushes the franc up and hurts exporters, and why Switzerland has had negative interest rates. 📄 Read-aloud
- The 2015 Franc Shock How the Swiss National Bank suddenly scrapped its cap on the franc in January 2015, causing it to jump 20 percent in minutes, and the lessons about central bank credibility. 📄 Read-aloud
- Swiss Watches and the Quartz Crisis How cheap Japanese quartz watches nearly destroyed the Swiss watch industry in the 1970s, and how Swatch and a shift to luxury saved it. 📄 Read-aloud
- Pharma Giants: Roche and Novartis How Basel became a pharmaceutical hub, home to Roche and Novartis, why pharma is Switzerland's largest export, and its reliance on the US market. 📄 Read-aloud
- Switzerland's Economy: Checkpoint 1 Quick checkpoint - five questions on Switzerland's economy, banking secrecy, the franc, the 2015 shock and watches. 5 questions
- Direct Democracy and Economic Policy How Swiss citizens vote directly on economic issues through referendums several times a year, from minimum wages to basic income, and what it means for policy. 📄 Read-aloud
- Cantons and Tax Competition How Switzerland's 26 cantons set their own taxes and compete for residents and firms, how low-tax Zug attracted companies, and how equalisation balances differences. 📄 Read-aloud
- Swiss Apprenticeships How around two-thirds of Swiss teenagers choose vocational apprenticeships, combining work and school, and why this keeps youth unemployment low. 📄 Read-aloud
- The Swiss Debt Brake How Switzerland's constitutional debt brake, approved by 85 percent of voters in 2001, requires balanced budgets over the cycle, and its effect on public debt. 📄 Read-aloud
- The Fall of Credit Suisse How scandals, losses and a bank run led to Credit Suisse's emergency takeover by UBS in March 2023, and the debate over too-big-to-fail banks. 📄 Read-aloud
- Switzerland, India and the EFTA Deal How India's 2024 trade agreement with EFTA, including Switzerland, promised 100 billion dollars in investment, the gold trade, and a recap of the module. 📄 Read-aloud