Unit One: Basic Economics Concepts
Snow Day and Cold Days, Week of January 28, 2019. Semester delayed until February 4, 2019.
Black Lives Matter in School Week, February 4-8, 2019
1. Introduction to class. Turn in Signed Slip from syllabus--due tomorrow,. Distributed textbooks. (Keep these at home!) Conducted icebreaker activity--Labeling a Picture. Assignments: read Modules 1 and 2 by tomorrow, taking notes as you read. In notebooks, answer Checking for Understanding problems 1, 3, and 4 (p. 8); Multiple Choice questions #1-4 (p. 9) and #1-4 (p.15; and Free Response Question #2 (p.15). [2/4]
3. Discuss the topics from Modules 1 and 2: opportunity costs, TANSTAAFL, and the 9 Principles of Economics. Lecture notes found here. Viewed video that provides a humorous take on the Principles of Economics, with the link being found here. Engaged in activity, Difficult Choices, in which students, in small groups of 3-4 each, were directed to discuss and solve a scenario (numbers one and three) with a difficult choice and were to come up of a solution of their own, along with mentioning which of the 9 Principles were involved, as an exit slip.Assignments: Read Module 3; answer M/C questions #1-5 (p. 22) and FRQ #2 (p. 22) in notebook; complete Activity 1-2 (Opportunity Costs, etc.)--this will be due the day of the Unit 1 exam. [2/5]
4. Discussed terms from Module 3: ceteris paribus; production possibilities curve; trade-offs and increasing opportunity costs; efficiency and growth. Notes found here. Assignments: Read Module 4; Answer in notebooks CfU #1 (p.30), M/C #1-5 (pp. 30-31), FRQ #2 (p.31), and complete Activity 1-3 (Comparative Advantage)--due the day of the first unit exam. [2/6]
5. Took quiz on Production Possibilities Frontiers. Discussed terms from Module 4: absolute advantage; comparative advantage; gains from trade; the Invisible Hand of Adam Smith. Notes found here. Assignments: Read Module 5; Answer in notebook CfU #1 (p. 58), M/C #1-3 (pp.59), and complete Activity 1-4 (Demand Curves) due the day of the first unit exam. [2/7]
6. Discussed terms from Module 5: demand schedule; law of demand; demand curve; determinants of demand; income effect; substitution effect; law of diminishing marginal utility; utility; normal v. inferior goods; and elasticity of demand. Notes found here. Assignments: read Module 6; Answer in notebook CfU #1-2 (p.67), M/C #4-5 (p.59) and #1-3 (pp.68), FRQ #2 (p.59), and complete Activity 1-5 (Reasons for Demand Curves Shifting), and Activity 1-6 (Supply Curves) due the day of the first unit exam. [2/8]
7. Discussed terms from Module 6: the law of supply, supply schedule, supply curve, determinants of supply, etc. Assignments: read Module 7; Answer in notebook CfU #1-2 (p. 78), M/C #4-5 (p. 68) and #1-4 (p.78), and complete Activity 1-7 (Reasons for Supply Curves Shifting), Activity 1-8 (Equilibrium Prices and Quantities), and Activity 1-9 (Shifts in Demand and Supply), which are due on the day of the first unit exam. Notes found here. Distributed Unit 1 Review. [2/11]
February 12th--Snow Day! See you tomorrow.
8. Discussed terms from Module 5: equilibrium; market clearing price; P* and Q*; surplus; shortage; indeterminate changes in demand and supply prices/quantities. Notes found here. Assignments: continue work Unit 1 activity packets--due Monday. [2/13]
9. Continued discussion on terms revolving around equilibrium: price ceilings and price floors. Prepare for Unit 1 exam on Monday. [2/14]
10. Review for Unit 1 exam Monday on Basic Economics Concepts. [2/15]
11. Unit 1 exam (Basic Economics Concepts) given. Assignments: read Module 8; CfU #2 (p.114), M/C #1 (p.114), FRQ #2 (p.114); Activity 1-10 (Business Cycle Theory), and Activity 2-1 (Circular Flow Diagram), both due on March 4th (day of Unit 2 exam). [2/18]
2. Read, "A Minimum Tax for the Wealthy" by Warren Buffett. Marked the Text, and completed a Clarifying and Summarizing worksheet, both of which are due tomorrow..
9. Engaged in reinforcement activity on demand and supply, in which ten scenarios were presented and students were asked to determine whether the demand or supply curve (or both or neither) shifted, which way the shift occurred (if it did), and what happened to the equilibrium price and equilibrium quantity. Got Unit One Review Sheet for exam on Thursday. Assignments: read pages 34-36 and 538-544; answer questions #1, 4, 9, 15 from pages 79-81 (due Wednesday); and complete Activities 1-8 and 1-9, which are also due Wednesday. [2/14]
10. Took quiz on Demand and Supply. Discussion on the concepts of equilibrium, shortages, and surpluses. See notes here. [Focus on points one and two only.] Engaged in activity of a Ticket Shortage. Then read a case study from the textbook and asked a series of questions on that reading. Discussed the different viewpoints economists take on, from microeconomics versus macroeconomics, to positive versus normative economics. Assignment: Activity 1-10 (The Business Cycle), which is due Thursday. [2/15]
11. Reviewed for Unit One exam tomorrow. [2/16]
12. Took Unit One exam. Read pp. 544-556 by tomorrow; Answer and Look #1, page 549, #2, page 551, and #1, page 553. [2/17]
Conducted activity, Auction, which introduced several economic concepts, such as opportunity costs, scarcity, utility, etc.
Black Lives Matter in School Week, February 4-8, 2019
1. Introduction to class. Turn in Signed Slip from syllabus--due tomorrow,. Distributed textbooks. (Keep these at home!) Conducted icebreaker activity--Labeling a Picture. Assignments: read Modules 1 and 2 by tomorrow, taking notes as you read. In notebooks, answer Checking for Understanding problems 1, 3, and 4 (p. 8); Multiple Choice questions #1-4 (p. 9) and #1-4 (p.15; and Free Response Question #2 (p.15). [2/4]
3. Discuss the topics from Modules 1 and 2: opportunity costs, TANSTAAFL, and the 9 Principles of Economics. Lecture notes found here. Viewed video that provides a humorous take on the Principles of Economics, with the link being found here. Engaged in activity, Difficult Choices, in which students, in small groups of 3-4 each, were directed to discuss and solve a scenario (numbers one and three) with a difficult choice and were to come up of a solution of their own, along with mentioning which of the 9 Principles were involved, as an exit slip.Assignments: Read Module 3; answer M/C questions #1-5 (p. 22) and FRQ #2 (p. 22) in notebook; complete Activity 1-2 (Opportunity Costs, etc.)--this will be due the day of the Unit 1 exam. [2/5]
4. Discussed terms from Module 3: ceteris paribus; production possibilities curve; trade-offs and increasing opportunity costs; efficiency and growth. Notes found here. Assignments: Read Module 4; Answer in notebooks CfU #1 (p.30), M/C #1-5 (pp. 30-31), FRQ #2 (p.31), and complete Activity 1-3 (Comparative Advantage)--due the day of the first unit exam. [2/6]
5. Took quiz on Production Possibilities Frontiers. Discussed terms from Module 4: absolute advantage; comparative advantage; gains from trade; the Invisible Hand of Adam Smith. Notes found here. Assignments: Read Module 5; Answer in notebook CfU #1 (p. 58), M/C #1-3 (pp.59), and complete Activity 1-4 (Demand Curves) due the day of the first unit exam. [2/7]
6. Discussed terms from Module 5: demand schedule; law of demand; demand curve; determinants of demand; income effect; substitution effect; law of diminishing marginal utility; utility; normal v. inferior goods; and elasticity of demand. Notes found here. Assignments: read Module 6; Answer in notebook CfU #1-2 (p.67), M/C #4-5 (p.59) and #1-3 (pp.68), FRQ #2 (p.59), and complete Activity 1-5 (Reasons for Demand Curves Shifting), and Activity 1-6 (Supply Curves) due the day of the first unit exam. [2/8]
7. Discussed terms from Module 6: the law of supply, supply schedule, supply curve, determinants of supply, etc. Assignments: read Module 7; Answer in notebook CfU #1-2 (p. 78), M/C #4-5 (p. 68) and #1-4 (p.78), and complete Activity 1-7 (Reasons for Supply Curves Shifting), Activity 1-8 (Equilibrium Prices and Quantities), and Activity 1-9 (Shifts in Demand and Supply), which are due on the day of the first unit exam. Notes found here. Distributed Unit 1 Review. [2/11]
February 12th--Snow Day! See you tomorrow.
8. Discussed terms from Module 5: equilibrium; market clearing price; P* and Q*; surplus; shortage; indeterminate changes in demand and supply prices/quantities. Notes found here. Assignments: continue work Unit 1 activity packets--due Monday. [2/13]
9. Continued discussion on terms revolving around equilibrium: price ceilings and price floors. Prepare for Unit 1 exam on Monday. [2/14]
10. Review for Unit 1 exam Monday on Basic Economics Concepts. [2/15]
11. Unit 1 exam (Basic Economics Concepts) given. Assignments: read Module 8; CfU #2 (p.114), M/C #1 (p.114), FRQ #2 (p.114); Activity 1-10 (Business Cycle Theory), and Activity 2-1 (Circular Flow Diagram), both due on March 4th (day of Unit 2 exam). [2/18]
2. Read, "A Minimum Tax for the Wealthy" by Warren Buffett. Marked the Text, and completed a Clarifying and Summarizing worksheet, both of which are due tomorrow..
9. Engaged in reinforcement activity on demand and supply, in which ten scenarios were presented and students were asked to determine whether the demand or supply curve (or both or neither) shifted, which way the shift occurred (if it did), and what happened to the equilibrium price and equilibrium quantity. Got Unit One Review Sheet for exam on Thursday. Assignments: read pages 34-36 and 538-544; answer questions #1, 4, 9, 15 from pages 79-81 (due Wednesday); and complete Activities 1-8 and 1-9, which are also due Wednesday. [2/14]
10. Took quiz on Demand and Supply. Discussion on the concepts of equilibrium, shortages, and surpluses. See notes here. [Focus on points one and two only.] Engaged in activity of a Ticket Shortage. Then read a case study from the textbook and asked a series of questions on that reading. Discussed the different viewpoints economists take on, from microeconomics versus macroeconomics, to positive versus normative economics. Assignment: Activity 1-10 (The Business Cycle), which is due Thursday. [2/15]
11. Reviewed for Unit One exam tomorrow. [2/16]
12. Took Unit One exam. Read pp. 544-556 by tomorrow; Answer and Look #1, page 549, #2, page 551, and #1, page 553. [2/17]
Conducted activity, Auction, which introduced several economic concepts, such as opportunity costs, scarcity, utility, etc.