Current Topic - Unit 2 - Supply, Demand, and Prices (Ch. 4-6)
Quiz - 1/31 S&D Quiz, 2/6 Equilibrium and Price Controls Mini-Quiz
Unit 2 Sheet Due - 2/6
Unit Test - 2/8 (might change)
1/4 - 1st Day
- Scarcity Intro Activity
1/5 - Basic Concepts
- Discussion/Notes (see ppt)
- Applying the Factors of Production (see Ms. Campbell for a copy if absent)
- Unit 1 Sheet distributed (due 1/22)
1/8 - Economic Thinking and Opportunity Cost
1/9 - Production Possibilities Curve (PPC)
1/10 - Circular Flow Model (CFM)
1/11 - Economic Systems Simulation
1/12- Quiz and Economic Systems Chart (if absent, do not complete the back)
1/16 - Finish Chart (both sides) - Early Dismissal
1/17 - 1/18 - Snow Days!
1/19 - Economics Systems and the Free Enterprise System (see Ms. Campbell if absent)
1/22 - Market Failure and Public Goods, Tragedy of the Commons Fishing Game
- Unit Sheets are Due!!!
1/23 - Unit 1 Test
1/24 - Intro to Supply and Demand (emphasis on demand)
- Review Unit 1 Test
- Understanding Demand Sheet (Graded)
1/25 - Shifting the Demand Curve
1/26 - Shifting Practice
1/29 - Supply and Supply Determinants
1/31 - Supply and Demand Quiz
2/1 - Production Costs and Marshmallow Towers
2/2 - Equilibrium and Price Controls
10/10 - Welcome Back!
- Saving and Investing Vocab Activity
- Attitudes about Money Survey and Discussion
10/11 - Functions and Characteristics of Money
- Barter and Trade Simulation
- PPT Discussion
- Categorize Sheet and Student created examples
- Goodwin Reading
10/12 - Library Lab to set up stock project
10/13 - Saving and Investing
- Are you an active or passive investor? Reading and discussion
- Risk Assessment Quiz
- Client Profiles
Unit 5 - Macroeconomic Performance
10/18 - Introduction to Macroeconomics
- Numbers that Make the News Reading and Questions
- Macroeconomics Crash Course
- Discuss basic definition of GDP and speculate why certain items are excluded from GDP claculations
10/19 - Gross Domestic Product
- Topic Discussion (See ppts for full information)
Is it counted, why, and economic impact handout
10/20 - Nominal vs. Real GDP
- Graph analysis and discussion (see ppts)
Nominal vs. Real Reading and calculation practice
Why is GDP like GPA podcast
Interview Questions (if time permits)
10/23 - Aggregate Supply and Demand
10/24 - Review Game, Quiz
10/25 - ABCD Review, Real GDP per Capita
10/26 - Lab Assignment
If you are absent, see Ms. Campbell for assignment modification instructions.
10/27 - The Business Cycle
10/30 - Business Cycle Review and Unemployment (p. 341 #2-4, 7-10)
10/31 - Unemployment Calc., Kahoot Review, Stocks
11/1 - No School!
11/2 - Inflation
- Handout (see Ms. Campbell for a copy)
11/3 - Journal Questions, Macro Puzzle Activity, Test Prep
11/6 - Test Prep
11/7 - Macroeconomic Performance Unit Test
Unit 6 - Economic Stabilization (Fiscal and Monetary Policy)
11/10 - Fiscal Policy Stations
11/15 - Fiscal Policy Mini-Quiz, Federal Reserve
11/16 - Monetary Policy Sub Packet (Due in Class on 11/21 - must be complete!)
11/17 - No Class, Anne Frank Play, Last day for Stock Game
11/20 - Lab for Stock Essay
11/21 - Review Monetary Policy Sub Packet
11/27 - Monetary Policy Review Questions (Graded), MP Mini-Quiz
1. What is the purpose of the Federal Reserve?
2. What is the Federal Reserve doing when it conducts monetary policy?
3. What will the Fed do to fix an inflationary period?
4. What will the Fed do to fix a period of economic contraction?
11/28 - Test Review
11/29 - Fiscal and Monetary Policy Unit Test
Unit 7 - International Trade
11/30 - Comparative and Absolute Advantage
- Review FP/MP Test
- Notes (see ppt section)
- Journal Questions (1st slide of ppt)
12/1 - Exchanging Currency
- Notes (see ppt section)
- Journal Questions - see journal question section of the webpage
- Planning a trip
- HW - Helped or Hurt Handout
12/4 - Barriers, Organizations, and Free Trade
1. Why is scarcity an economic issue?
2. List the 4 factors of production and provide an example of each.
3. Explain the paradox of value.
1. Why does the demand curve slope downward?
2. Why does the supply curve slope upward?
3. According to the laws of supply and demand, how do consumers and producers react to changes in price? What does this look like on the graph?
4. As a consumer, how do changes in price affect your spending habits? What would this look like on a demand curve graph?
1. Why do we have prices?
2. Explain how prices serve as signals to producers and consumers.
3. How do we allocate resources in the absence of prices?
7/31 - excused if absent
Use your supply and demand current event to complete the following:
a. Summary: Summarize the main points (who, what, where, when, why, how) of the article.
b. Analysis: This is where you need to connect it to what you have learned in the current unit. Please give examples to support your response.
c. Evaluation: Why is this event important to know about? Please give examples to support your response.
d. Opinion: What do you think about the current event? How does the event affect you? Your opinion must be based on prior knowledge and what you have read. Use economic vocabulary and knowledge to support your response.
1. What does it mean for a market to be at equilibrium? Disequilibrium?
2. Explain price controls. Do they help or harm the poor? What are the unintended consequences of price controls? Knowing the consequences of price controls, should they be put in place? Why?
1. How does raising the minimum wage above the market wage create a surplus of workers?
2. Summarize the reasons some economists support a higher minimum wage.
3. Summarize the reasons some economists oppose a higher minimum wage.
4. Why might the minimum wage be an inefficient approach to reducing poverty?
5. What types of programs might be more efficient in reducing poverty?
What effect will an increase in demand have on eq price and quantity? Graph it.
What effect will a decrease in supply have on eq price and quantity? Graph it.
Compare the behavior of firms and buyers in perfect competition, monopoly, oligopoly, and monopolistic competition.
Explain how barriers to entry limit competition.
1. Explain the difference between each form of business ownership. What are the pros and cons of each?
2. List all of the market structures from least competitive to most competitive.
10/20 Journal Questions
1. Explain the difference between intermediate and final goods. Which one is included in GDP calculations? Why?
2. Why are transfer payments excluded from GDP calculations?
3. What are some of the limitations of GDP? Do you feel it is a good measure of economic growth?
1. Explain the difference between nominal gdp and real gdp. Which one is a better indicator of economic growth?
1. Explain the each of the 4 types of unemployment.
2. Why will there always be people who are unemployed?
3. Who is hurt/helped by unanticipated inflation?
4. How does increased aggregate demand lead to inflation?
2017 Semester Exam Prep - The semester exam will be cumulative and I strongly suggest students begin studying as early as possible. You should review all of your notes, handouts (including previous study guides), and textbook chapters. We will do some review in class, but it will not replace studying.
Review PPT Part I
Review PPT Part II
Interactive Study Guide - pick and choose the topics you would like to review
Practice Test - similar to the style of questions you will see on the exam
Textbook Practice Quizzes (click on chapter and then Progress Monitoring Online)
Khan Academy Videos