Week of March 14, 2016

Happy Pie Day.  Happy St. Patrick's Day on Thursday.

Tommow beware the the Ides of March?  Why?

13(1) Unemployment
Answer  Global connections question on page 335.
Questions 1-6 (odd/even) page 336

13(2) Inflation
What is a wage price spiral (page 342)?
Questions 1-6 (odd/even) page 343.

Read Oprah Winfrey (344)Answer questions 1+2 (odd/even)

13(3) Poverty
Look at poverty rates by group ( 346) What race and gender  has the highest and lowest rates of poverty.
What does the Lorenz curve (348) show?
Questions 1-8 (350) odd/even
Questions 1+2 on page 351.

Week of March 6, 2016

Not everyone turned in the practice quiz
We will continue our reports on Rethinking America and have a quiz on Chapter 7 on Thursday.

Due next Monday (3/14)

Chapter 12: Gross Domestic Product and Growth

12 (1) p. 301  identify each of the key terms in 7 words or less for each term.

Look at the chart on page 302.  How does expenditure approach differ from income approach?

List 3 facts about the underground economy (p. 305)

Answer questions #1-7 on page 308  (odd/even)

12(2) p. 310   Identify the key terms in 7 words or less for each term.

What does the graph on page 312 show

What does the Global connection on page 314 show the relationship between?

What does the green flag on page 316 show?

Answer questions 1-5 on page 316 (odd/even)

Answer questions #1+2 on page  317

12(3)  Identify the key terms on page 318 in 7 words or less for each term.

How is capital deepening shown on the chart on page 322?

How does the fast fact on page 323 explain how innovations impact business efficiency?

Answer questions # 1-5 on page 324. (odd/even)

Answer questions 1+ 2 on page 325.

Chapter 3 homework

Vocabulary for Chapter 3

3(1)
profit motive
open opportunity
legal equality
private property rights
free contract
competition
interest group
public disclosure laws
public interest

3(2)
macroeconomics
microeconomics
GDP
business cycle
work ethic
technology

3(3)
public sector
private sector
free rider
market failure
externality

3(4)
poverty threshold
welfare
AFDC
cash transfers
in kind benefits

Economics classroom expectations

Classroom expectations

Grading Policy:
Homework 15%
Class work 25%
Exams/presentations  60%


Bring a good attitude, a binder, and something to write with in class every day.

I will be available for extra help almost every day, especially if you let me know you are coming.
My extra help day is Thursday at the Freshman homework club.

Economics Course outline

Economic Concepts
  Scarcity
  opportunity costs
  production possibilites curve
  role of saftety nets
  3 economic questions
Traditional, Command, Market Economies

Microeconomics
Supply and Demand
Elasticity
Market Equilibrium and the role of prices
Perfect Competition
Monopoly vs. Monopolistic Competition
Regulation and deregulation

Labor  and business
Sole Proprietorships
Partnerships,
Corporations
 

Macroeconomics
Fiscal Policy
Monetary Policy

Week of September 21, 2015

2(1)
economic system
factor paymets
patriotism
safety nets
standard of living
traditional economy
market economy
centrally planned economy
mixed economy

2(2)
market
specialization
household
firm
factor market
profit
product market
self interest
incentive
competition
invisible hand
consumer sovereignty

2(3)
socialism
communism
authoritarian
collective
heavy industy

2(4)
laizzez faire
private property
free enterprise
continuum
ttransition
privatize

Economics interview project

Business Interview-  

Presentations due week of October 3, 2015

Only Rule: DO NOT ASK WHAT THE PERSON EARNS/YEAR

PowerPoint / visual needed for presentation

Speak to a Sole Proprietor, partner, or manager of a business

Name of subject interviewed

Name of establishment and how long it existed

How long has the person worked at the establishment?

Story behind the start up or the person getting involved in establishment

Type of investment in business-

      Physical and human capital, natural

      Fixed costs

      Variable costs

Target audience, how do they reach their customer? (advertisement…)

How do they expand their market share?

Seasonal and cyclical nature of business?

Any indicators of  the business cycle changing?

Employee expectations?

How do local, state or federal regulations impact business?

What type role can government play in helping your business?

What types of sacrifices had to be made to make a successful business?

What are the benefits of owning or managing a business?

Words of wisdom to someone looking to enter the field?