Unit Two: Principles of Microeconomics
1. Began Unit 2 by introducing concept of utility and the Law of Diminishing Marginal Utility by using marshmallows. Discussed the concept of demand by buying a good and creating a demand schedule, which led to the plotting of the points to create a demand curve. The results proved the Law of Demand. Assignment: Read Chapter 4-Section 3 tonight. [9/23]
2. Using the demand schedule from yesterday, create a demand curve. Discuss what the demand curve shows and how it can be used. Talked about the determinants of demand, which will shift a demand curve. Began work on demand and supply notes packet. Assignment: Read Chapter 4--Section 4. [9/24]
3. Reviewed concepts of demand schedule, demand curve, and determinants of demand. Discussed the concept of elasticity of demand. Read Chapter 5-Sections 1 and 2. [9/25]
4. Took quiz on Chapter 4. Discussed supply schedules and the law of supply. Read Chapter 5-Section 3. [9/26]
5. Discussed the determinants of supply and how supply curves can shift. Continued work on demand and supply packet. Read Chapter 5-Section 4. [9/27]
6. Engaged in activity on productivity and the law of diminishing marginal returns. Complete Glove Production Table and Tree Production Table, both of which are due Wednesday. Read Chapter 6-Sections 1 and 2. [9/30]
7. Reviewed productivity activity from yesterday about productivity. Conducted the Activity: A Market in Sliver, which demonstrates the interaction of demand and supply. Tally sheets are due tomorrow, and Demand & Supply study guide is due Thursday. Read Chapter 6-Section 3. [10/1]
6. Took quiz on Chapter 5. Began a discussion on equilibrium and the price structure. Finish notes template on demand, supply, and equilibrium. Assignments: Equilibrium Prices and Quantities worksheet, due Friday; Read Chapter 6-Section 4. [10/2]
7. Discussion on shortages, surpluses, and price ceilings and floors. Worked on packet on shortages, surpluses, and price ceilings/floors in class; due tomorrow. Read Chapter 7-Sections 1 and 2. [10/3]
8. Introduction to the four (4) market structures in the capitalist economy of the United States: perfect competition, monopoly, monopolistic competition; and oligopoly. Read Handout 4-22-1, which describes these structures in detail, using it to complete Handout 4-22-2, which is due Tuesday. Read Chapter 7-Sections 3 and 4. [10/4]
9. Took Chapter 6 quiz. Introduced idea of game theory, which explains the behavior of cartel members of an oligopoly. Watched segment from A Beautiful Mind, which shows how John Nash came up with game theory (what he called "governing dynamics"). Conducted several oligopoly games to demonstrate game theory and the Nash Equilibrium. Discussed how mergers can sometimes hamper competition, and what government's role is maintaining that competition. Then discussed the different types of mergers that can form when two or more businesses combine to create a larger company. Introduced the concept of the Herfindahl-Hirschmann Index (HHI). Went over how it is calculated and how it is applied to a couple of scenarios. Activity 3 due tomorrow Read Chapter 8--Sections 1 and 2. [10/7]
10. Practice of game theory and engagement of market structures via playing board game, Anti-Monopoly. Read Chapter 8--Section 3 [10/10] and Chapter 8-Section 4 [10/8]
11. Discussed the different types of business organizations that occur in capitalist economies: sole proprietorship; partnerships; and corporations. Using textbooks found in class, complete chart that compares and contrasts these three business organizations--due next Monday. Read Chapter 9-Sections 1 and 2. Distributed Unit Three Review sheet. [10/9]
12.Took Chapter 7 quiz. Discussion on the history of labor in the United States, which served as an introduction to today's activity, Contract Negotiations. Split class into two groups (Labor and Management), and gave each group directions on how to come up with priority list to enter into contract negotiations with the other side. Once demands are finalized, each group meets through representatives to work out a labor contract. Read Chapter 9-Section 3. [10/10]
13. Finished Contract Negotiations activity. Each side presented their plans to the other; compromise contract sought. Exit slip: What did you learn from this activity, within your group and in negotiating with the other side?--due Monday. Read Chapter 8-Section 3. [10/11]
14. Took Chapter 8 quiz. Presentation on labor laws in the United States. [10/14]
15. Reviewed for Unit 2 test on Friday. [10/15]
16. Unit 2 test today on Chapters 4-9. All late work for unit due by 4PM tonight. [10/16]
9. Review of externalities and the difference between private and public goods. Tie these concepts into the topic of health care in the United States. Begin watching video on health care, Sick Around America, taking notes on personal stories. Entry slip: What was the most important/interesting thing you learned from the video? Why? Read Chapter 6-Section 2. [3/2]
10. Took Chapter 5 Quiz. Review of yesterday's viewing of health care video. Continue watching, taking notes, Sick Around America. Begin watching video, Sick Around the World, taking notes on the different countries and systems presented. Read Chapter 6-Section 3. [3/5-6]
11. Finish Sick Around the World. Watch video from Reason.com, Oklahoma Doctors Against Obamacare, to get a libertarian view on health care reform in the United States. Take notes. Write a one-page essay answering this question: Which point-of-view do adhere to: the work-based model, the universal care model, or the libertarian one? Why? [3/7]
12. Discussed the various forms of market structures in capitalist economies: perfect competition; monopolistic competition; oligopoly; and monopoly. Distributed reading on these different structures (Activity 4-22-1), the Four Models of Market Structure--due Tuesday. Went into more detail about the different market structures and how they affect competition in an economy. Read Chapter 7-Section 2 [3/8]
13. Took Chapter 6 quiz. Introduced idea of game theory, which explains the behavior of cartel members of an oligopoly. Watched segment from A Beautiful Mind, which shows how John Nash came up with game theory (what he called "governing dynamics"). Conducted several oligopoly games to demonstrate game theory and the Nash Equilibrium. Extra credit: Prisoners' Dilemma worksheet. Read Chapter 7-Sections 3 & 4. [3/9]
14. Discussed how mergers can sometimes hamper competition, and what government's role is maintaining that competition. Then discussed the different types of mergers that can form when two or more businesses combine to create a larger company.Introduced the concept of the Herfindahl-Hirschmann Index (HHI). Went over how it is calculated and how it is applied to a couple of scenarios. Activity 3 due tomorrow. Distributed Unit Three review sheet. [3/12-13]
15. Discussed the different types of business organizations that occur in capitalist economies: sole proprietorship; partnerships; and corporations. Assigned to complete the worksheet on these three business organizations--due next Monday. Read Chapter 8-Section 1. Distributed Unit Three Review sheet. [3/14]
16.Took Chapter 7 quiz. Discussion on the history of labor in the United States, which served as an introduction to today's activity, Contract Negotiations. Split class into two groups (Labor and Management), and gave each group directions on how to come up with priority list to enter into contract negotiations with the other side. Once demands are finalized, each group meets through representatives to work out a labor contract. Read Chapter 8-Section 2. [3/15 and 3/19]
17. Finished Contract Negotiations activity. Each side presented their plans to the other; compromise contract sought. Exit slip: What did you learn from this activity, within your group and in negotiating with the other side?--due Monday. Read Chapter 8-Section 3. [3/19]
18. Took Chapter 8 quiz. Began discussion on labor laws in the United States. [3/20]
19. Finished discussion on labor laws in the United States. Began review for Unit 3 exam on chapters 3-8. [3/21]
20. Took Unit 3 Post-test. Reviewed for Unit 3 test on Tuesday. [3/22]
24. Unit 3 test today on Chapters 3-8. All late work for unit due by 4PM tonight. [3/203
1. Took unit pre-test. Engaged in activity, Broad Social Goals of an Economy, which included a discussion of how societies use five Social Goals of an Economy (freedom, stability, growth, efficiency, and equity) to answer the three Basic Economic Questions ("how much to produce;" "what to produce;" and "for whom to produce"). Described the difference between political freedom and economic freedom. Finished with the reading of an article about President Franklin Roosevelt's "Economic Bill of Rights" address before Congress in January 1944. Questions about this article are to be completed by Wednesday. Read Chapter 2-Sections 1 and 2, and Chapter 16-Sections 1 and 2 for tomorrow. [2/5]
2. Close Reading for essay on Adam Smith, author of "The Wealth of Nations." (Pre-read by numbering paragraphs and reading the topic sentence of each paragraph; Mark the Test by circling the key terms, first two pages only; Mark the Text by underlining the main idea for each paragraph, first two pages only; and by discussing with a partner the marked text.) Using the results of the Close Reading, complete a Clarifying and Summarizing worksheet for Adam Smith, due Thursday. Read Chapter 2-Section 3 and Chapter 16-Section 3. [2/6]
3. Close Reading for Karl Marx's "Communist Manifesto." (Pre-read by numbering paragraphs and reading the topic sentence of each paragraph; Mark the Test by circling the key terms, first two pages only; Mark the Text by underlining the main idea for each paragraph, first two pages only; and by discussing with a partner the marked text.) Using the results of the Close Reading, complete a Clarifying and Summarizing worksheet for "Communist Manifesto," due Thursday. [2/6]
4. Chapter 2 Quiz. Introduction to John Maynard Keynes and his influence on 20th century economics. Broke into small groups to conduct a Close Reading on one of the essays Keynesian economic theory or Keynes on inflation, and then summarize the chosen Keynes essay by completing a Clarifying and Summarizing worksheet, which is due Wednesday, along with the Marked Text. Read Chapter 16-Section 4. [2/7]
Human Rights Week Presentation in Theatre. Meet in class first. [2/8]
5. Reviewed the ideas of Keynes, then introduced the ideas of Friederick von Hayek and his influence on 20th century economics. Broke into small groups to conduct a Close Reading for Hayek's Road to Serfdom excerpt, and then summarized it by completing a Clarifying and Summarizing worksheet, which will be due on Thursday, along with the Marked Text. [2/8]
6. Using the information from the past few days regarding the ideas of Smith, Marx, Keynes, and Hayek, students will be writing a five-paragraph essay comparing and contrasting the ideas of Adam Smith and Karl Marx. The format and rubric for this assignment can be found at the links earlier in this sentence. The essay is due on Friday [2/12-13]
7. Chapter 16 Quiz. Continue work on compare and contrast essay. [2/13]
8. Activity on Economic Freedom. Activity 2.1: Political and Economic Freedom, due Thursday. [2/14]
9. Unit 2 Post-test. Reviewed for Unit 2 (Chapters 2 and 16, on economic systems and philosophers) test tomorrow. [2/15]
10. Unit Exam on Chapters 2 and 16. Late work due by 4PM today. [2/16]
8. Chapter 16 Quiz. Briefly introduced the different kinds of economic systems around the world today. Distributed Activity 1-10: Economic Systems, to be completed by Wednesday. [9/26]
7. Using the lessons from the readings of the economic thinkers studied so far (Smith, Marx, Keynes, Hayek, and Lenin), demonstrate how various societies have determined how to answer the Three Basic Economic Questions by creating three economic systems (traditional, command, and market) and how they have evolved into the mixed systems we see today (market capitalism, market socialism, and communism). [2/16]
Finished Close Read protocol with the essay on Lenin by extending it to the second page. Assignment: utilizing all of the texts read this past week (Smith, Marx, Keynes, Hayek, and Lenin), answer the following prompt: "If European nations and the United States had not embraced imperialism in the 18th and 19th centuries, would capitalism had survived the 19th century? Explain your answer. Took quiz on Chapters 2 and 16.
Conducted a Critical/Close Reading of Vladimir Lenin's Critique of Capitalism, steps 1-6. [2/13]
7. Completed the Close Reading of Lenin. Questions from the Close Reading are due on Thursday. Distributed Unit Two review sheet [2/14]
9. Activity on Why Did Communism Collapse?. Questions from activity due on Friday. [10/2]
In honor of Black History Month, please take a moment to read the linked article from Madison 365 by Michael Johnson that shares a timeline of Black History in Madison, Wisconsin.
1. Worked on and turned in Markets Puzzle. Took notes on Markets--exit slip due at end of class. Assignments: read Chapter 4-Sections 1 and 2; complete The Market packet, due tomorrow. [2/28]
2. Went over Unit One exam. Conducted market experiment with Oreos and took notes on Demand. Assignment: read Chapter 4-Section 3. [3/1]
3. Review of the Law of Demand. Chapter 4 notes quiz. Read Chapter 5-Sections 1 and 2. [3/4]
4. Supply experiment with Oreos. Took notes on Supply; complete and turn in notes packet. Read Chapter 5-Section 3. [3/5]
5. Activity: Law of Diminishing Marginal Returns. Presentation on elasticity of supply. Read Chapter 6-Sections 1 and 2. [3/6]
6. Discussion on the Law of Diminishing Marginal Returns. Conducted simulation: a Market in Silver. Complete Tally Sheet for the Simulation, due today as an exit slip. Debrief simulation, taking notes. Market in Silver worksheet on Demand and Supply due Monday. Read Chapter 6-Section 3. [3/7]
7. Debrief Market in Silver simulation. Study in supply, demand, and equilibrium by working on notes packet as a class. Turn in notes packet as an exit slip. [3/8]
8. Introduced concepts of shortages and surpluses. Read Chapter 7-Section 1. [3/11]
9. Activity: Concert Tickets, which applies shortages and surpluses. Discussion of price ceilings and price floors: practice problems in class; packets due tomorrow. [3/12]
10. Took Chapter 6 notes quiz. Discussed elasticity of demand. Debate on price controls. Read Chapter 7-Section 2. [3/13]
11. Continued discussion of elasticity. Find article to share that discusses demand, supply, or price controls. Read Chapter 7-Section 3. [3/14]
12. Research online an article on demand, supply, price ceilings, or price floors. Summarize article with short essay. Read Ch 8-Section 1. [3/15]
2. Using the demand schedule from yesterday, create a demand curve. Discuss what the demand curve shows and how it can be used. Talked about the determinants of demand, which will shift a demand curve. Began work on demand and supply notes packet. Assignment: Read Chapter 4--Section 4. [9/24]
3. Reviewed concepts of demand schedule, demand curve, and determinants of demand. Discussed the concept of elasticity of demand. Read Chapter 5-Sections 1 and 2. [9/25]
4. Took quiz on Chapter 4. Discussed supply schedules and the law of supply. Read Chapter 5-Section 3. [9/26]
5. Discussed the determinants of supply and how supply curves can shift. Continued work on demand and supply packet. Read Chapter 5-Section 4. [9/27]
6. Engaged in activity on productivity and the law of diminishing marginal returns. Complete Glove Production Table and Tree Production Table, both of which are due Wednesday. Read Chapter 6-Sections 1 and 2. [9/30]
7. Reviewed productivity activity from yesterday about productivity. Conducted the Activity: A Market in Sliver, which demonstrates the interaction of demand and supply. Tally sheets are due tomorrow, and Demand & Supply study guide is due Thursday. Read Chapter 6-Section 3. [10/1]
6. Took quiz on Chapter 5. Began a discussion on equilibrium and the price structure. Finish notes template on demand, supply, and equilibrium. Assignments: Equilibrium Prices and Quantities worksheet, due Friday; Read Chapter 6-Section 4. [10/2]
7. Discussion on shortages, surpluses, and price ceilings and floors. Worked on packet on shortages, surpluses, and price ceilings/floors in class; due tomorrow. Read Chapter 7-Sections 1 and 2. [10/3]
8. Introduction to the four (4) market structures in the capitalist economy of the United States: perfect competition, monopoly, monopolistic competition; and oligopoly. Read Handout 4-22-1, which describes these structures in detail, using it to complete Handout 4-22-2, which is due Tuesday. Read Chapter 7-Sections 3 and 4. [10/4]
9. Took Chapter 6 quiz. Introduced idea of game theory, which explains the behavior of cartel members of an oligopoly. Watched segment from A Beautiful Mind, which shows how John Nash came up with game theory (what he called "governing dynamics"). Conducted several oligopoly games to demonstrate game theory and the Nash Equilibrium. Discussed how mergers can sometimes hamper competition, and what government's role is maintaining that competition. Then discussed the different types of mergers that can form when two or more businesses combine to create a larger company. Introduced the concept of the Herfindahl-Hirschmann Index (HHI). Went over how it is calculated and how it is applied to a couple of scenarios. Activity 3 due tomorrow Read Chapter 8--Sections 1 and 2. [10/7]
10. Practice of game theory and engagement of market structures via playing board game, Anti-Monopoly. Read Chapter 8--Section 3 [10/10] and Chapter 8-Section 4 [10/8]
11. Discussed the different types of business organizations that occur in capitalist economies: sole proprietorship; partnerships; and corporations. Using textbooks found in class, complete chart that compares and contrasts these three business organizations--due next Monday. Read Chapter 9-Sections 1 and 2. Distributed Unit Three Review sheet. [10/9]
12.Took Chapter 7 quiz. Discussion on the history of labor in the United States, which served as an introduction to today's activity, Contract Negotiations. Split class into two groups (Labor and Management), and gave each group directions on how to come up with priority list to enter into contract negotiations with the other side. Once demands are finalized, each group meets through representatives to work out a labor contract. Read Chapter 9-Section 3. [10/10]
13. Finished Contract Negotiations activity. Each side presented their plans to the other; compromise contract sought. Exit slip: What did you learn from this activity, within your group and in negotiating with the other side?--due Monday. Read Chapter 8-Section 3. [10/11]
14. Took Chapter 8 quiz. Presentation on labor laws in the United States. [10/14]
15. Reviewed for Unit 2 test on Friday. [10/15]
16. Unit 2 test today on Chapters 4-9. All late work for unit due by 4PM tonight. [10/16]
9. Review of externalities and the difference between private and public goods. Tie these concepts into the topic of health care in the United States. Begin watching video on health care, Sick Around America, taking notes on personal stories. Entry slip: What was the most important/interesting thing you learned from the video? Why? Read Chapter 6-Section 2. [3/2]
10. Took Chapter 5 Quiz. Review of yesterday's viewing of health care video. Continue watching, taking notes, Sick Around America. Begin watching video, Sick Around the World, taking notes on the different countries and systems presented. Read Chapter 6-Section 3. [3/5-6]
11. Finish Sick Around the World. Watch video from Reason.com, Oklahoma Doctors Against Obamacare, to get a libertarian view on health care reform in the United States. Take notes. Write a one-page essay answering this question: Which point-of-view do adhere to: the work-based model, the universal care model, or the libertarian one? Why? [3/7]
12. Discussed the various forms of market structures in capitalist economies: perfect competition; monopolistic competition; oligopoly; and monopoly. Distributed reading on these different structures (Activity 4-22-1), the Four Models of Market Structure--due Tuesday. Went into more detail about the different market structures and how they affect competition in an economy. Read Chapter 7-Section 2 [3/8]
13. Took Chapter 6 quiz. Introduced idea of game theory, which explains the behavior of cartel members of an oligopoly. Watched segment from A Beautiful Mind, which shows how John Nash came up with game theory (what he called "governing dynamics"). Conducted several oligopoly games to demonstrate game theory and the Nash Equilibrium. Extra credit: Prisoners' Dilemma worksheet. Read Chapter 7-Sections 3 & 4. [3/9]
14. Discussed how mergers can sometimes hamper competition, and what government's role is maintaining that competition. Then discussed the different types of mergers that can form when two or more businesses combine to create a larger company.Introduced the concept of the Herfindahl-Hirschmann Index (HHI). Went over how it is calculated and how it is applied to a couple of scenarios. Activity 3 due tomorrow. Distributed Unit Three review sheet. [3/12-13]
15. Discussed the different types of business organizations that occur in capitalist economies: sole proprietorship; partnerships; and corporations. Assigned to complete the worksheet on these three business organizations--due next Monday. Read Chapter 8-Section 1. Distributed Unit Three Review sheet. [3/14]
16.Took Chapter 7 quiz. Discussion on the history of labor in the United States, which served as an introduction to today's activity, Contract Negotiations. Split class into two groups (Labor and Management), and gave each group directions on how to come up with priority list to enter into contract negotiations with the other side. Once demands are finalized, each group meets through representatives to work out a labor contract. Read Chapter 8-Section 2. [3/15 and 3/19]
17. Finished Contract Negotiations activity. Each side presented their plans to the other; compromise contract sought. Exit slip: What did you learn from this activity, within your group and in negotiating with the other side?--due Monday. Read Chapter 8-Section 3. [3/19]
18. Took Chapter 8 quiz. Began discussion on labor laws in the United States. [3/20]
19. Finished discussion on labor laws in the United States. Began review for Unit 3 exam on chapters 3-8. [3/21]
20. Took Unit 3 Post-test. Reviewed for Unit 3 test on Tuesday. [3/22]
24. Unit 3 test today on Chapters 3-8. All late work for unit due by 4PM tonight. [3/203
1. Took unit pre-test. Engaged in activity, Broad Social Goals of an Economy, which included a discussion of how societies use five Social Goals of an Economy (freedom, stability, growth, efficiency, and equity) to answer the three Basic Economic Questions ("how much to produce;" "what to produce;" and "for whom to produce"). Described the difference between political freedom and economic freedom. Finished with the reading of an article about President Franklin Roosevelt's "Economic Bill of Rights" address before Congress in January 1944. Questions about this article are to be completed by Wednesday. Read Chapter 2-Sections 1 and 2, and Chapter 16-Sections 1 and 2 for tomorrow. [2/5]
2. Close Reading for essay on Adam Smith, author of "The Wealth of Nations." (Pre-read by numbering paragraphs and reading the topic sentence of each paragraph; Mark the Test by circling the key terms, first two pages only; Mark the Text by underlining the main idea for each paragraph, first two pages only; and by discussing with a partner the marked text.) Using the results of the Close Reading, complete a Clarifying and Summarizing worksheet for Adam Smith, due Thursday. Read Chapter 2-Section 3 and Chapter 16-Section 3. [2/6]
3. Close Reading for Karl Marx's "Communist Manifesto." (Pre-read by numbering paragraphs and reading the topic sentence of each paragraph; Mark the Test by circling the key terms, first two pages only; Mark the Text by underlining the main idea for each paragraph, first two pages only; and by discussing with a partner the marked text.) Using the results of the Close Reading, complete a Clarifying and Summarizing worksheet for "Communist Manifesto," due Thursday. [2/6]
4. Chapter 2 Quiz. Introduction to John Maynard Keynes and his influence on 20th century economics. Broke into small groups to conduct a Close Reading on one of the essays Keynesian economic theory or Keynes on inflation, and then summarize the chosen Keynes essay by completing a Clarifying and Summarizing worksheet, which is due Wednesday, along with the Marked Text. Read Chapter 16-Section 4. [2/7]
Human Rights Week Presentation in Theatre. Meet in class first. [2/8]
5. Reviewed the ideas of Keynes, then introduced the ideas of Friederick von Hayek and his influence on 20th century economics. Broke into small groups to conduct a Close Reading for Hayek's Road to Serfdom excerpt, and then summarized it by completing a Clarifying and Summarizing worksheet, which will be due on Thursday, along with the Marked Text. [2/8]
6. Using the information from the past few days regarding the ideas of Smith, Marx, Keynes, and Hayek, students will be writing a five-paragraph essay comparing and contrasting the ideas of Adam Smith and Karl Marx. The format and rubric for this assignment can be found at the links earlier in this sentence. The essay is due on Friday [2/12-13]
7. Chapter 16 Quiz. Continue work on compare and contrast essay. [2/13]
8. Activity on Economic Freedom. Activity 2.1: Political and Economic Freedom, due Thursday. [2/14]
9. Unit 2 Post-test. Reviewed for Unit 2 (Chapters 2 and 16, on economic systems and philosophers) test tomorrow. [2/15]
10. Unit Exam on Chapters 2 and 16. Late work due by 4PM today. [2/16]
8. Chapter 16 Quiz. Briefly introduced the different kinds of economic systems around the world today. Distributed Activity 1-10: Economic Systems, to be completed by Wednesday. [9/26]
7. Using the lessons from the readings of the economic thinkers studied so far (Smith, Marx, Keynes, Hayek, and Lenin), demonstrate how various societies have determined how to answer the Three Basic Economic Questions by creating three economic systems (traditional, command, and market) and how they have evolved into the mixed systems we see today (market capitalism, market socialism, and communism). [2/16]
Finished Close Read protocol with the essay on Lenin by extending it to the second page. Assignment: utilizing all of the texts read this past week (Smith, Marx, Keynes, Hayek, and Lenin), answer the following prompt: "If European nations and the United States had not embraced imperialism in the 18th and 19th centuries, would capitalism had survived the 19th century? Explain your answer. Took quiz on Chapters 2 and 16.
Conducted a Critical/Close Reading of Vladimir Lenin's Critique of Capitalism, steps 1-6. [2/13]
7. Completed the Close Reading of Lenin. Questions from the Close Reading are due on Thursday. Distributed Unit Two review sheet [2/14]
9. Activity on Why Did Communism Collapse?. Questions from activity due on Friday. [10/2]
In honor of Black History Month, please take a moment to read the linked article from Madison 365 by Michael Johnson that shares a timeline of Black History in Madison, Wisconsin.
1. Worked on and turned in Markets Puzzle. Took notes on Markets--exit slip due at end of class. Assignments: read Chapter 4-Sections 1 and 2; complete The Market packet, due tomorrow. [2/28]
2. Went over Unit One exam. Conducted market experiment with Oreos and took notes on Demand. Assignment: read Chapter 4-Section 3. [3/1]
3. Review of the Law of Demand. Chapter 4 notes quiz. Read Chapter 5-Sections 1 and 2. [3/4]
4. Supply experiment with Oreos. Took notes on Supply; complete and turn in notes packet. Read Chapter 5-Section 3. [3/5]
5. Activity: Law of Diminishing Marginal Returns. Presentation on elasticity of supply. Read Chapter 6-Sections 1 and 2. [3/6]
6. Discussion on the Law of Diminishing Marginal Returns. Conducted simulation: a Market in Silver. Complete Tally Sheet for the Simulation, due today as an exit slip. Debrief simulation, taking notes. Market in Silver worksheet on Demand and Supply due Monday. Read Chapter 6-Section 3. [3/7]
7. Debrief Market in Silver simulation. Study in supply, demand, and equilibrium by working on notes packet as a class. Turn in notes packet as an exit slip. [3/8]
8. Introduced concepts of shortages and surpluses. Read Chapter 7-Section 1. [3/11]
9. Activity: Concert Tickets, which applies shortages and surpluses. Discussion of price ceilings and price floors: practice problems in class; packets due tomorrow. [3/12]
10. Took Chapter 6 notes quiz. Discussed elasticity of demand. Debate on price controls. Read Chapter 7-Section 2. [3/13]
11. Continued discussion of elasticity. Find article to share that discusses demand, supply, or price controls. Read Chapter 7-Section 3. [3/14]
12. Research online an article on demand, supply, price ceilings, or price floors. Summarize article with short essay. Read Ch 8-Section 1. [3/15]