Thursday, July 23, 2020, Economics: Day 24

First hour of google meet 
Into 5 minutes: Standards, Objectives, Agenda, and Attendance
Objectives: SWBAT

• analyze the locations of resources and evaluate the significance of these locations. 
• explain the concepts of absolute and comparative advantage and apply the concept of comparative advantage to explain why and how countries trade.
• analyze the impact of U.S. imports and exports on the United States and its trading partners.
• describe the effects of trade on employment.

Warm Up 10 minutes: Please create a supply and demand curve identifying where a shortage and surplus may occur because of a price ceiling and price floor.
Stocks 10 minutes: Students buy and sell stocks
Reading 20 minutes: Debating Current Issues:  A Strong Dollar p. 498-499 #1-4
Lecture 20 minutes: Chapter 18 Economic Development and Transition
Independent Work 
Assessment 25 minutes:  Ch. 18.2 #1-9 p. 483
Assessment 25 minutes: Ch. 18.3 #1-7 p. 488
Creating a Budget 30 minutes: Students will create a Budget

1. Job- based off of current qualifications 
2. Place to live
3. Transportation/gas/maintenance 
4. Food
5. Insurance- car, rental, and health
6. cellphone
7. internet/cable 
8. clothes
9. entertainment 
10. savings 
11. other

Personal Finance Handbook 40 minutes: Please select three of the following and answer questions: p. 504-531

• Opening and Managing a Checking Account
• Saving and Investing 
• Financial Institutions and Services
• Credit and Debt 
• Paying for Education
• Buying a car 
• Renting an apartment 
• Buying Insurance
• Getting a Job
• Paying Taxes

Second hour of google meet 
Review 25 minutes: Macroeconomics

1. Scarcity and the Factors of Production
2. Opportunity Cost 
3. Production Possibilities Curve
4. Durable/Nondurable Goods
5. Services
6. tariffs/Imports/Exports 
7. The Free Market
8. Benefits of Free Enterprise
9. Law of Demand/ Law of Supply
10. Equilibrium Price
11. Perfect Competition 
12. Business Organizations
13. Different types of Labor/ Unemployment 
14. Stock Market 
15. GDP
16. Business Cycle 
17. Inflation/Stagflation/hyperinflation 
18. What are taxes 
19. Fiscal Policy 
20. Federal Reserve System and ways it regulates money supply and the economy 
21. law of comparative advantage 
22. Free Trade
23. Exchange Rate
24. Macro/Micro Economics 

Final 30 minutes: Students take and finish final
Teacher Evaluation 15 minutes:  Students evaluate teacher: survey

Tuesday, July 21, 2020, Economics: Day 22

First hour of google meet 
Into 5 minutes: Standards, Objectives, Agenda, and Attendance
Objectives: SWBAT

• describe the federal budget.
• analyze fiscal policy.
• present on the federal reserve.
• analyze the stock market.

Stock Market Project 25 minutes: Students have time buy/trade stock.
Debating Current Issues 15 minutes: Tax Credit p. 412-413 #1-4
Research 20 minutes:  Federal and State Spending

1. Find State and Federal Spending for the past ten years. 
2. Please note what areas each spends on Mandatory and Discretionary Spending
3. What areas did you see change the most? What reasons might contribute to this change?
4. Anything surprise you about the charts?

Lecture 20 minutes:  Ch. 16 The Federal Reserve and Monetary Policy
Independent Work

Poem 25 minutes:  Fiscal Policy in American History p. 400-401

1. Based of of these three sections- World War II, The Kennedy Administration, Supply-Side Policies in the 1980s- create, write, and perform a song or poem 

Presentations 30 minutes:  Student create and present topics (Description and significance)

• Regulating the Banking System
• Regulating the Money Supply
• Money Creation 
• Reserve Requirements 
• Discount Rate
• Open Market Operations 
• How Monetary Policy Works 
• The Problem of Timing 
• Policy Lags 

Assessment 25 minutes: Ch. 18.1 #1-5

Second hour google meet 

Sharing 15 minutes: Presentations 

Study Guide 25 minutes:  Students have time to review study guide
Test 30 minutes: MidTerm #2
Closing 5 minutes:  Review Objectives

Monday and Wednesday, July 20 & 22, 2020, Economics: Day 21 & 23

Please complete all assignments before July 23, 2020 when class meets.
Book: O'Sullivan and Sheffrin. Economics: Principles in Action. Prentice Hall

Chapter 15 Fiscal Policy Assessment: p. 410-411 #1-23  Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
Chapter 16 The Federal Reserve and Monetary Policy Assessment: p. 436-437  #1-22 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
Chapter 17 International Trade Assessment: p. 466-467  #1- 20 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
Case Study:  p. 409 Will Social Security Survive?, p. 435 Banking, Monetary Policy, and the Great Depression. p. 465 NAFTA: Is Free Trade a Good Idea
Study Guide

1. Corporation
2. conglomerate
3. sole proprietorship
4. vertical/ horizontal merger
5. limited partnership
6. nonprofit organization
7. Labor Force
8. productivity
9. equilibrium wage
10. semi-skilled labor
11. skilled labor
12. professional labor
13. glass ceiling
14. labor union
15. strike
16. right-to-work law
17. collective bargaining
18. white/blue collar worker
19. arbitration
20. Characteristics of money
21. Uses of Money
22. Sources of money
23. History of banking
24. Investment 
25. Financial System
26. Mutual Fund
27. Diversification
28. Portfolio 
29. prospectus 
30. return 
31. maturity 
32. yield 
33. savings bond
34. municipal bond
35. Securities Exchange Commission 
36. junk bond
37. capital/money/primary/secondary markets
38. share
39. capital gains/loss
40. stock exchange 
41. speculation
42. bull/bear market
43. NASDAQ/DOW/S&P 500
44. GDP
45. Business Cycle
46. Types of Unemployment  

Thursday, July 16, 2020, Economics: Day 20

First hour of Google Meet 
Into 5 minutes: Standards, Objectives, Agenda, and attendance

Objectives: SWBAT

• describe Gross Domestic Product
• analyze Economic Challenges
• describe taxes and government spending

Warm Up 15 minutes: Students share work on the history of Banking in the U.S. trade and buy stock

• History of Banking 
• Stock Contest 

Lecture 20 minutes: 

1. Goods/Services, GDP, Aggregate Demand and Supply, Business Cycle
2.  Ch. 14 Taxes and Government Spending
3. Macroeconomic Equilibrium 

Key Terms 10 minutes: p. 310-316 Define and significance

1. Recession
2. Depression
3. stagflation 
4. leading indicators

Graphing 20 minutes:  Students graph their own business cycle, and Aggregate Supply and Demand. Students identify three durable and nondurable goods and three services. 
Independent Work 

Assessment 25 minutes: Chapter 12.3 p. 324 #1-6
Activity 25 minutes: Business Plan

• How much money will you need to start your business?
• How many workers? What will be the responsibilities of each? 
• How much production do you expect from each new worker added? 
• How will you be able to determine how to price your good or service? 
• How much will your fixed/variable costs be?
• How many goods or services will you have to sell a month to make it a profit?

Key Terms 20 minutes: Define and Significance

1. Inflation
2. purchasing power
3. price index
4. Consumer Price Index
5. market basket
6. inflation rate
7. hyperinflation
8. wage-price spiral
9. fixed income
10. deflation

Assessment 20 minutes: Ch. 13.3 Poverty p. 350 #1-7

Assessment 30 minutes: Ch. 14 Taxes and Government Spending #1-21 p. 382-383

Second hour of Google Meet 
4 Square Activity 25 minutes: Describe, Significance, Draw p. 331-333

1. Frictional Unemployment
2. Seasonal Unemployment
3. Structural Unemployment
4. Cyclical Unemployment

Case Study 10 minutes: Unemployment in a Booming Economy p. 351
Closing 5 minutes: Review Objectives

Tuesday, July 14, 2020, Economics: Day 18

First hour of Google Meet 
Into 5 minutes: Standards, Objectives, Agenda, and Attendance
Objectives: SWBAT

• Describe the three uses of money
• explain the six characteristics of money
• understand the sources of money's value
• describe shifts between centralized and decentralized banking before the Civil War.
• explain how the banking system was stabilized in the later 1800s.
• describe developments in banking during the twentieth century.
• understand banking today.
• analyze and understand financial markets
• describe and understand GDP

Warm Up 15 minutes: Students prepare their homework to go over with the instructor.

Study Guide 15 minutes: Students have time to review study guide

Lecture 15 minutes: Theory of Production & Money 

Activity 25 minutes: Students analyze the six characteristics of money p. 245-246 : Durability, Divisibility, Portability, Uniformity, Limited Supply, Acceptability

• Design your own currency and present to the class. 

Lecture 20 minutes: The Stock Market & Goods/Services, GDP, Aggregate Demand and Supply, Business Cycle 
Independent Work

Writing 35 minutes: Students create a kids story about the history of banking in America p. 250-256: American Banking Before the Civil War, Late 1800s, Banking in the Early Twentieth Century, Banking in the Later Twentieth Century 

• Title 
• Illustrations 
• Seven Pages 

Key Terms 30 minutes: Describe and significance p. 271-283

1. Investment 
2. Financial System
3. Mutual Fund
4. Diversification
5. Portfolio 
6. prospectus 
7. return 
8. maturity 
9. yield 
10. savings bond
11. municipal bond
12. Securities Exchange Commission 
13. junk bond
14. capital/money/primary/secondary markets
15. share
16. capital gains/loss
17. stock exchange 
18. speculation
19. bull/bear market
20. NASDAQ/DOW/S&P 500

Research 25 minutes: Students can buy/trade/ research stock.

Assessment 25 minutes: Chapter 12.3 Gross Domestic Product and Growth p. 324 #1-6 

Second hour of Google Meet 

Graphing 20 minutes:  Students graph their own business cycle, and Aggregate Supply and Demand. Students identify three durable and nondurable goods and three services.  p. 310-316

Key Terms 10 minutes: Define and significance

1. Recession
2. Depression
3. stagflation 
4. leading indicators 

Test 20 minutes: Students get started on Economics Midterm.

Closing 5 minutes: Review Objectives

Monday and Wednesday, July 13 & 15, 2020: Day 17 & 19

Please complete assignments 1&2 before July 14, 2020 when class meets.
Book: O'Sullivan and Sheffrin. Economics: Principles in Action. Prentice Hall

1. Chapter 8 Assessment: Business Organizations p. 206-207 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
2. Chapter 9 Assessment: Labor p. 236-237 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
3. Chapter 10 Assessment: Money and Banking p. 266-267  Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
4. Case Studies: Business and Ethics p. 205, Americans Improve Their Working Conditions p. 235, Big Banks and Small p. 265

Study Guide

1. need/want
2. Economics
3. goods/services
4. scarcity
5. factors of Production: Land, Labor, Capital
6. Entrepreneur
7. Guns or Butter/ Trade-Offs
8. Opportunity Cost
9. Production of Possibilities Frontier
10. Standard of Living
11. Market/ Command/Mixed Economies
12. specialization
13. profit
14. Self-interest
15. competition
16. Invisible Hand
17. profit motive
18. voluntary exchange
19. macro/micro economics
20. GDP
21. business cycle
22. externality
23. Demand- Law, schedule, curve, why it shifts
24. Supply- Law, schedule, curve, why it shifts
25. Price- Equilibrium, excess/shortage, ceiling/floor
26. Fixed, Variable, Total, Marginal cost
27. Perfect Competition v. Monopolistic Competitions and Oligopoly

Thursday, July 9, 2020, Economics: Day 16

First hour Google Meet 
Into 5 minutes: Standards, Objectives, Agenda, and Attendance
Objectives: SWBAT

• describe supply and demand
• interpret supply and demand.
• determine price based off of supply and demand.
• identify different market structures.

Warm Up 15 minutes: Please define the following in your own words: p. 101-106

1. Supply
2. law of supply
3. quantity supplied
4. supply schedule
5. variable
6. market supply schedule
7. supply curve
8. market supply curve
9. elasticity supply

Lecture 15 minutes: Teacher talks about supply schedule and curve & Change in Supply
Activity 20 minutes: Students create a supply schedule. Using supply schedule, students create a supply curve.
Activity 15 minutes: Law of Diminishing Marginal Utility
Independent Work 
4-Square Activity 25 minutes: p. 111-112 Fixed Costs, Variable Costs, Total Cost, Marginal Cost

1. Describe
2. Significance
3. Draw/Illustrate

Activity 20 minutes: Please create a supply curve for each and show what kind of shift would occur to supply in each of the following scenarios:

1. Effect of Rising Costs
2. Technology
3. Subsidies
4. Taxes
5. Regulation
6. Future Expectations of Prices
7. Number of Suppliers

Key Terms 20 minutes: Please define in your own words: p. 125-131

1. equilibrium
2. disequilibrium
3. excess demand
4. excess supply
5. price ceiling
6. price floor
7. rent control
8. minimum wage

Presentations 35 minutes: Perfect Competition p. 151, Monopoly p. 156, Monopolistic Competition and Oligopoly

1. Using Objectives and the beginning of the section create a presentation for classmates using google slides.

Second hour of Google Meet 
Cost of Production Simulation 15 minutes: Students finish cost of production chart. "Diminishing Margin of Return. p. 109
Lecture 15 minutes: Teacher instructs students on Supply and Demand Curve

• Equilibrium
• Price Floor
• Price Ceiling 

Graphing 10 minutes: Students graph the following  

• Equilibrium
• Price Floor
• Price Ceiling

Closing 5 minutes: Review Objectives.