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