Nov 20

AP Economics – 11/21/19

I. Bellwork

Page 646-647 MC 1-5

II.  Objectives:

  • Explain the payoffs, dominant strategies, and Nash equilibrium given a payoff matrix
  • Examine the demand curve for a firm operating in a noncollusive oligopoly and explain the kink

III.  Class Discussion

IV.  Classwork

Section 65 Folder on iLearn:  65.1 & 65.3

V.  Homework

iLearn:   Oligopoly/Game Theory Work

Nov 20

Economics – 11/21/19

I.  Bellwork:

Analyze the cartoon below completing the 4-Square below.

Discuss with elbow partner.

tax-cartoon1

II.  Objectives:

  • Determine the central ideas or information; provide an accurate summary that makes clear the relationships among the key details and ideas.
  • Examine, analyze, and discuss the fundamental principles associated with taxation.

III. Discussion/Notes:

A.  Review:  Taxes Video

IV.  The Economics of Taxation Pages 229-236

  • PPT file and attached  Chapter 09 Section 1 -Notes in Notebook
    • Bubble Map – Economic Impact of Taxes
    • Brace Map – Criteria for Effective Taxes
    • Brace Map – Principles of Taxation
    • Types of Taxes Figure 9.2

V.  Classwork:

  • Page 229 Vocabulary (16)
  • Page 236 Q&A 2-6
Nov 19

Accounting – 11/20/19

i.  Bellwork

  • Page 152 Analyzing Nike’s Financial Statements  Q&A 1-2

II.  Objectives:

  • Interpret, analyze, and journalize financial transactions in accordance with Generally Accepted Accounting Procedures.
  • Maintain and monitor a general ledger accounts
  • Prepare a bank statement reconciliation
  • Follow and apply multi-step procedures when performing accounting  tasks; based on explanations in the text and GAAP.

III.  Classwork:  Pages 154 -155 Reinforcement Activity – Part 1

  • Journalize & Post Aug 19-Aug 31
  • Prepare Bank reconciliation
  • Tomorrow is the last day to do it in class
Nov 19

AP Economics – 11/20/19

I.  Bellwork:

A.  Page 641

  1. Explain ADM’s actions.
  2. Explain how fast food companies compete.

II.  Objectives:

  • Explain why oligopolies have an incentive to ac in ways that reduce their combined profit.
  • Explain why oligopolies can benefit from collusion
  • Determine the meaning of words and phrases as they are used in economics

III. Discussion and Notebook

A.  Introduction to Oligopoly Pages 642-646

  • Game Theory
  • Collusion & Competition

V.  Classwork

  • Page 646 Check Your Understanding #1
  • Page 647  Free Response #2
  • On iLearn 64.1 worksheet
Nov 19

Economics – 11/20/19

I. Bellwork

A.  Obama moves to curb car emissions  Questions & Answers

  1. What is the market failure that the government is trying to reduce?
  2. How is the government attempting to fix the failure?
  3. What government agency/agencies may be involved?
  4. How effective do you believe this policy is likely to be in reducing the market failure?

II Objectives

  • Discuss and provide analysis of the societal impact externalities and market failures (tragedy of the commons) while also exploring possible methods to resolve these issues..
  • Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence.

III.  Review Market Failures

IV.   Tragedy of the Commons Part 1 – Chalk Talk

V.  Classwork Ch7 – Enrichment Activities:  1-4 Q&A

VI. Chapter 7  Quiz

Nov 19

AP Economics – 11/19/19

I. Objectives

Construct, analyze, and Interpret graphs for perfectly competitive industries and firms demonstrating the long run and short run impact based upon changes in supply and demand

Construct, analyze, and interpret graphs for monopolies to determine the consumer surplus, producer surplus,and deadweight loss

Determine allocative and productive efficiency related toa perfectly competitive firm and monopoly.

II. Section 11 Exam

FRQ on iLearn

MC on AP Classroom

Nov 18

Accounting – 11/19/19

I.   Bellwork:

  • Budget Challenge

II. Objectives:

  • Interpret, analyze, and journalize financial transactions  in accordance with General Accepted Accounting Procedures.
  • Post, maintain, and monitor a general ledger accounts
  • Follow and apply multi-step procedures when performing accounting  tasks; based on explanations in the text and GAAP.

III.  Classwork:  input on MindTap

Pages 154 -155 Reinforcement Activity – Part 1

  • Journalize all the transactions into the general ledger for transaction dated August 1-28
    • Turn in your General Journal
Nov 18

Economics – 11/19/19

I.  Bellwork: on iLearn

II. Objective:

  • Discuss and provide analysis of the societal impact externalities and market failures (tragedy of the commons) while also exploring possible methods to resolve these issues..
  • Integrate and evaluate multiple sources of information presented in diverse formats and media in order to address a question or solve a problem.

III.  Quiz Tomorrow

IV.  Discussion: Externalities, Public Goods & Tragedy of the Commons
A. Notebook/Discussion

  1. Ways government encourages Positive Externalities
  2. Ways government discourages Negative Externalities

V.  Classwork
A.  Whiskey fungus tarnishes homes in Kentucky

  1. What is the negative externality and why is it a negative externality?
  2. Is there any positive externalities associated with having a distillery in the community?
  3. Explain two different approaches to solve the problem and reduce the market failure

B.   Tragedy of the Commons

  1. The Tragedy of the Commons Explained in One Minute
  2. South Park: Tragedy of the Commons
    1.  Explain the economic concept the tragedy of the commons.
    2.  Explain how the South Park video is an example of the tragedy of the commons

C.   Ch7 – Enrichment Activities:  1-4 Q&A

Nov 18

AP Economics – 11/18/19

I. Bellwork

II.  Objectives:

  • Collaborate and  review topics related to monopolies (unregulated) and natural monopolies (regulated)
  • Construct, analyze, and interpret graphs for monopolies to determine the profit maximizing level, price, total revenue, total cost, and profit

III.  Classwork

  • Page 638-639 1-25 Write Answers due today

IV.   Huge Test Tuesday – Sections 58-63

Nov 18

Economics – 11/18/19

I.  Bellwork  Q&A

If a new bridge to Canada is built:

  • Provide and explain an example of a negative externality. (Be specific)
  • Provide and explain an example of a positive externality. (Be specific)

II.  Objective

  • Identify the purpose of legislation which constrains the functions of  business structures.
  • Examine and explain the role of the government  and legislation in correcting market failures.
  • Determine central ideas of a text and analyze their development over the course of the text, including how they interact and build on one another to provide a complex analysis;

 III.  Notebook Work/Discussion (ALL OF THESE ARE ON THE NEXT QUIZ)

  • 186 – Copy Figure 7.3  
  • 191 – Copy Roles of Government-Map & (Discuss each role)
  • 187  Federal Government Regulatory Agencies and their responsibilities.
  • https://www.cpsc.gov/

IV.  Video & Discussion

V.  Classwork