Oct 04

Economics – 10/04/19

I. Bellwork

A. Construct and explain an inelastic demand curve

B. Construct and explain an elastic demand curve

II. Objectives

  • Analyze, interpret and construct economic models to determine demand elasticity
  • Integrate and evaluate  information presented in order to determine demand elasticity from utilization of demand elasticity tests.

III.   Discussion  Pages 458-464

A  Demand Elasticity & Inelasticity – Elasticity of Demand

B.  Calculating Price Elasticity of Demand

  • %Change in Qd / %Change in P
  • Midpoint Method:

C Practice

1. On iLearn Worksheet 46.4: Elasticity of Demand Calculation

2. Practice: The price of college tuition increased from $20,000 to $22,000 per year. Enrollment by first year students declined from 500 to 400.

C. Total Revenue Method

D. Determinants

  • Substitutes
  • Proportion of Income
  • Luxury or necessity
  • Addictive
  • Time

IV.  Classwork:

  • Page 103 Vocabulary (7)
  • Page 109  2-4 Q&A

Oct 04

AP Economics – 10/04/19

I. Bellwork

II.   Objective:

  • Construct economic models and calculate the change in consumer surplus and producer surplus resulting from excise taxes
  • Construct economic model and calculate the deadweight loss and revenue from taxes resulting from an excise tax

III.  Discussion/Notes

Taxes on Producers- Microeconomics 2.11 ACDC Econ

Deadweight Loss, Consumer & Producer Surplus- Microeconomics 2.7 (Holiday Edition)

Taxation and dead weight loss | Microeconomics | Khan Academy

IV.   Classwork

  • Worksheet 2.7 on iLearn
Oct 04

Accounting – 10/04/19

I. Bellwork: Use Budget Challenge Information

A. What is the largest payment for a vendor bill you will be making? Provide Amount and vendor

B. What is the second largest payment for a vendor bill you will be making? Provide Amount and vendor

C. What is your bi-weekly gross pay?

D.. What is your net pay?

II. Objectives:

Evaluate a speaker’s point of view and reasoning assessing the links among ideas and points of emphasis.

Provide a clear and concise conclusion that follows from and reflects on the information shared by the speaker.

III. Complete the Sheet below

[Template] Guest Speaker sheet.doc

OR

II.   Objectives

  • Analyze, interpret, and properly record various transactions according to GAAP using a general journal.
  • Interpret and analyze financial transactions following a multi-step procedure based on examples outlined in the text.

III.  Classwork:  Pages 83-86

  • 3-4.2 Application Problem on MindTap