2. 9/17/09 Read chapter one and be sure you know the following terms: opportunity cost, free good, economic good, scarcity, the basic economic problem, factors of production
Download first semester project packet from IHS website and have parent / guardian sign the signature form after you have thoroughly read the packet. Then, it's important that you immediately start contacting community organizations that provide volunteer opportunities. Remember, you must have a service contract signed by a person from an organization. Your project instructor also needs to sign the contract before you begin accumulating your service hours.
3. 9/21 Grandparent Day Assignment - due 9/30
4. 9/24 Read pages 11-12 in your textbook - PPF curves. This is the first model that we will use to begin our study of economics.
5. 9/28 Read pages 17-23 in your textbook. As we have discussed, read with purpose, form questions about the important concepts, and then self-test. The Grandparent Day assignment is due on Wednesday. We will also work on the PPF concept on Wednesday, and then take a quiz to see what we know.
6. 9/30 Illustrate the circular flow diagram in chapter two. Write a one paragraph, precise explanation of the diagram. Also, study the disadvantages of a market system and the disadvantages of a planned economy. There will be a quiz about this topic at the beginning of the next class.
7. 10/2 Find an article about the current health care debate. Write one or two paragraphs answering the following question. To what extent does the health care debate reflect the opposing economic philosophies of Hayek and Keynes?
8. 10/6 Test next class. Here are the questions. Notes can't be used.
October Test -2009
1. Explain how an increase in the quantity and quality of a nation’s factors of production can promote economic development. In your response use an appropriate, neatly illustrated diagram. Then write a thorough response that uses precise definitions for all economic terms, clearly identifies your assumptions and directly refers to the diagram. (30 pts)
2. Thoroughly explain the one marked comparison/illustration. Explain the difference between ... (10pts)
• Macroeconomics and microeconomics
• Economic philosophy of Keynes and Hayek
• Positive and normative statements – use examples
• Scarcity and opportunity cost
• Free and economic goods- use examples
• Planned economies and free market economies
• Or, illustrate the circular flow diagram
9. 10/8 Read pages 25-29 and 32-35. Apply the SQ3R study strategy to these pages. In applying this method you should write approximately 25-27 questions based on the number of section headings and italicized words. Write out your questions and answers, self-test, and re-study as needed.
Because demand and supply starts our study of microeconomics, it's very important that you have a sound understanding of the concepts introduced in this chapter.
The SQ3R strategy is as follows:
Survey the selected pages by studying the visual aids and diagrams.
Question are formed based on chapter headings, subheadings, and italicized words
Read, Recite and Review
1. Read the pages
2. Recite the written responses to the questions that you have made.
3. Review the pages to verify that your answers are correct - self test.
10. 10/13 Chapter 3: student work point 3.1 on page 30 and exam questions 1 and 2 on page 36.
11. 10/15 Chapter 3: student work point 3.3 on page 35 and exam questions 3 and 4 on page 36.
12. 10/19 Ch. 4: Read pages 38-41, know terms and study diagrams.
13. 10/21 Complete class handout - demand and supply. Also, bring an article to class to use for your first current event paper.
7. 10/2 Find an article about the current health care debate. Write one or two paragraphs answering the following question. To what extent does the health care debate reflect the opposing economic philosophies of Hayek and Keynes?
8. 10/6 Test next class. Here are the questions. Notes can't be used.
October Test -2009
1. Explain how an increase in the quantity and quality of a nation’s factors of production can promote economic development. In your response use an appropriate, neatly illustrated diagram. Then write a thorough response that uses precise definitions for all economic terms, clearly identifies your assumptions and directly refers to the diagram. (30 pts)
2. Thoroughly explain the one marked comparison/illustration. Explain the difference between ... (10pts)
• Macroeconomics and microeconomics
• Economic philosophy of Keynes and Hayek
• Positive and normative statements – use examples
• Scarcity and opportunity cost
• Free and economic goods- use examples
• Planned economies and free market economies
• Or, illustrate the circular flow diagram
9. 10/8 Read pages 25-29 and 32-35. Apply the SQ3R study strategy to these pages. In applying this method you should write approximately 25-27 questions based on the number of section headings and italicized words. Write out your questions and answers, self-test, and re-study as needed.
Because demand and supply starts our study of microeconomics, it's very important that you have a sound understanding of the concepts introduced in this chapter.
The SQ3R strategy is as follows:
Survey the selected pages by studying the visual aids and diagrams.
Question are formed based on chapter headings, subheadings, and italicized words
Read, Recite and Review
1. Read the pages
2. Recite the written responses to the questions that you have made.
3. Review the pages to verify that your answers are correct - self test.
10. 10/13 Chapter 3: student work point 3.1 on page 30 and exam questions 1 and 2 on page 36.
11. 10/15 Chapter 3: student work point 3.3 on page 35 and exam questions 3 and 4 on page 36.
12. 10/19 Ch. 4: Read pages 38-41, know terms and study diagrams.
13. 10/21 Complete class handout - demand and supply. Also, bring an article to class to use for your first current event paper.
14. 10/23: Complete data response exercise on page 47 and 48. Please carefully read all of page 48 as there is excellent advise on how to write appropriate evaluations together with suggestions on how to locate suitable articles for current event papers.
15. 10/27 Study for supply and demand quiz - know determinants of supply and demand, curve shifts vs. movements along the curve, effect of taxes and subsidies on supply, demand vs. quantity demanded, and price controls.
15. 10/27 Study for supply and demand quiz - know determinants of supply and demand, curve shifts vs. movements along the curve, effect of taxes and subsidies on supply, demand vs. quantity demanded, and price controls.
16. No economics homework. Please work on projects. Your completed project is due 11/6.
17. 11/4 Chapter 5: student work points 5.1 and 5.2
18. 11/6 Chapter 5: student work points 5.4 and 5.5. Also, study for elasticity quiz next class.
19. 11/10 There will be a test next class consisting of three questions. Questions one and two are based on a paragraph about a food crises in Zimbabwe. To answer the first question you will need to apply demand and supply theory. The second question will require an understanding of price controls - floors (a high minimum price) and ceilings (a low maximum price).
The third question is from the short response questions on textbook page 63. You will be assigned one question out of the five to answer.
Also, please bring you current event article to class. The test should take 40 minutes or less and we should then have time to focus on creating a working outline for your first paper.
17. 11/4 Chapter 5: student work points 5.1 and 5.2
18. 11/6 Chapter 5: student work points 5.4 and 5.5. Also, study for elasticity quiz next class.
19. 11/10 There will be a test next class consisting of three questions. Questions one and two are based on a paragraph about a food crises in Zimbabwe. To answer the first question you will need to apply demand and supply theory. The second question will require an understanding of price controls - floors (a high minimum price) and ceilings (a low maximum price).
The third question is from the short response questions on textbook page 63. You will be assigned one question out of the five to answer.
Also, please bring you current event article to class. The test should take 40 minutes or less and we should then have time to focus on creating a working outline for your first paper.
20. 11/16 Create a detailed outline of your first current event paper. Bring outline and article to class for further improvement.
21. 11/19 Complete current event paper.
21. 11/19 Complete current event paper.
22. 11/2o Chapter 13: On page 134 there is a list of study questions - "by the end of the chapter, you should be able to." For the first four bulleted points, write a response.
23. 11/24 No homework!
24. 11/30 Look for an article suitable for your second current event paper.
25. 12/2 Read class handout and complete matching. Expect a quiz over the reading. We will complete the problem sets in class.
26. 12/4 Work on externality project.
27. 12/8 Complete externality project.
28. 12/10 Find an article focused on the topic of a market failure. Market failures occur in the following areas: externalities, imperfect competition, lack of public goods, too many demerit goods, too few merit goods, imperfect information for market participants, income inequality, short term time horizons (short termism), and immobility of factors of production. For more information about these market failures review textbook chapter 13. Bring your article to class for discussion.
23. 11/24 No homework!
24. 11/30 Look for an article suitable for your second current event paper.
25. 12/2 Read class handout and complete matching. Expect a quiz over the reading. We will complete the problem sets in class.
26. 12/4 Work on externality project.
27. 12/8 Complete externality project.
28. 12/10 Find an article focused on the topic of a market failure. Market failures occur in the following areas: externalities, imperfect competition, lack of public goods, too many demerit goods, too few merit goods, imperfect information for market participants, income inequality, short term time horizons (short termism), and immobility of factors of production. For more information about these market failures review textbook chapter 13. Bring your article to class for discussion.
