Economics – 12/20/18

I.  Bellwork :  Q&A

1. What is the topic of the graph?
2. What do the x-axis and y-axis represent?
3. What are some observations you can make based on the graph?

II.  Objective:

• Explore the benefits and disadvantages associated with production (GDP) and consumption in a a market/capitalistic economy.
• Evaluate differing points of view on an issue by assessing the authors’ claims, reasoning, and evidence.

III.Notebook

• Chapter 13 Section 1_Presentation

 

• Pages 356-357 – Cause and Effect Map of the Great Depression

• GDP and Fiscal Policy (Cause & Effect)

 

IV.  Classwork

A. Power of the Market – The Pencil

• 3-5 Sentence Summary
• Explain the example used and what the main points Milton Friedman was attempting to make.

B.  Story of Stuff

• 6-8 Sentence Summary
• Explain the examples used in the video and the points made about each step in the materials economy. Relate this to GDP (production of goods and services).

Economics F2018