Bellwork: On iLearn 2.4 Worksheet
Identify the main stances of the Federalists and Anti-Federalists between 1787 and 1789 Understand the key debates surrounding the ratification of the constitution, including an extended republic, the House of Representatives, the Senate, executive power, the judiciary, and a bill of rights Interact with the ideas, perspectives, and arguments that defined the ratification debate to form an effective and cohesive set of arguments
Race to Ratify – Game (Instructions & Link on Google Classroom) Biographical Sketch – 2 Characters see iLearn
Quiz Sections 2.4 &2.5
Chapter 2 Test Tuesday
A. Create a graph demonstrating cost-push inflation. Show the change in price level
B. Create a graph demonstrating demand-pull inflation. Show the change in price level
Use the Phillips curve to show the nature of the short-run trade-off between inflation and unemployment Explain why there is no long-run trade-off between inflation and unemployment Discuss why expansionary policies are limited due to the effects of expected inflation Identify the problems with deflation that lead policy makers to prefer a low but positive inflation rate.
III. Discussion: P328-336
A. Introduction to the Phillips Curve
1. The Short-Run Phillips Curve
2. Inflation Expectations and the Short – Run Phillips Curve
B Inflation and Unemployment in the Long Run
1. The Long-Run Phillips Curve
2. The Natural Rate of Unemployment, Revisited
3. The Costs of Disinflation
1. Debt Deflation
2. Effects of Expected Deflation
Relationship btw AD, Unemployment & Inflation Relationship btw AS, Unemployment & Inflation Copy SRPC & LRPC – video
V. Video Resources
34.1, 34.2 , 34.3 WS 5.2 A & 5.2B Phillips Curve
on iLearn from Section 2-4
Identify the opposing sides in the fight for ratification and describe the major arguments for and against the proposed Constitution.
Analyze the positions of the Federalists and the Anti-Federalist , using primary sources
Describe the inauguration of the new government of the United States of America
III. Chapter 2 Sec 5 Discussion/Notes
Notes: Federalist v Anti-Federalists
Reading Comprehension 2.5
Quiz Tomorrow Sections 2.4 & 2.5
Chapter 2 Test Friday
The economy of Dodgelandia is experiencing an inflationary gap.
a. How could the Central Bank use
monetary policy (3 specific examples) to return the economy to full employment?
b. Use a correctly labeled graph of the money market to show how this monetary policy would impact the equilibrium interest rate.
c. Describe how the monetary policy in part (a) would affect the AD/AS graph, the aggregate price level and real GDP in Dodgelandia.
Use the classical model of the price level Explain why efforts to collect an inflation tax by printing money can lead to high rates of inflation and even hyperinflation Define the types of inflation cost-push, demand-pull, wage-price spiral Construct, analyze and interpret graphs demonstrating expansionary and contractionary monetary policy and the short and long rum impact on Prices, Inflation, and GDP
III. Discussion: P318-325.
A. Money and Inflation
The Classical Model of Money and Prices The Inflation Tax The Logic of Hyperinflation
B. Moderate Inflation and Disinflation
1. Cost Push & Demand Pull
2. The Output Gap and the Unemployment Rate
Actual real GDP – potential real GDP = Output Gap Negative = unemployment is above the natural rate Positive = unemployment is below the natural rate Zero = unemployment is equal to the natural rate
V. Classwork on iLearn
33.1 WS Inflation Tax 4.6 Monetary Policy in Action
I. Bellwork: Q&A
What is Franklin’s main point?
What does he mean by local interests and selfish views?
What does his statement suggest about the difficulties faced by the Convention?
II. Objectives :
Identify the Framers of the Constitution and discuss how they organized the Philadelphia Convention.
Compare and contrast the Virginia Plan and the New Jersey Plan.
Summarize the convention’s major compromises and the effects of those decisions.
Use primary and secondary sources to evaluate the major compromises made at the Constitutional Convention
CH 2 Sec 4 Discussion and Notes: PPT 2-4
A. Steps to the Constitution
C. Notes: Proposals
New Jersey Plan
D. Note: Compromises
Commerce and Slave Trade Compromise
Reading Comprehension 2.4
Core Sheet 2.4
P311 – MC 1-5
Examine how recessions and inflation impact the deficit Determine the fiscal policy consistent with counteracting recessionary and inflationary gaps Analyze how government debt impacts the economy Identify how the Federal Reserve uses monetary policy as a means to achieve macroeconomic goals Construct a flow map describing the various monetary policies used by the Fed and their impact on the money supply.
Macro 4.1- Money Market and FED Tools (Monetary Policy)
Money Growth and Inflation- Macro Topic 5.3
Money Growth and Inflation- Macro Topic 5.3
§ Recession & Inflation Impact on Deficit
§ Fiscal Policy – Impact of the Deficit –
§ Impact of Borrowing
§ Monetary Supply Graph – p305
§ Impact of Expansionary & Contractionary Monetary Policy – p307
Taylor rule v. Inflationary Targeting
Monetary Policy Flash Cards
(Macro) Episode 30: Creating Money
Monetary Policy Graphs (1 of 2) – Macro 4.6
The Money Multiplier
Money Multiplier Practice (OLD)
V. Module 31 & 32 Questions on iLearn
(1) Who issued this currency?
(2) How much was this note worth?
(3) Explain what problems state currencies create?
Describe the structure of the government set up under the Articles of Confederation. Explain why the weaknesses of the Articles led to a critical period for the country in the 1780s. Describe how a growing need for a stronger national government led to plans for a Constitutional Convention
A. Articles of Confederation
What Were the Articles of Confederation? | History
Cause Effect Map – Weakness
B. Problems between states
C. Movement for Change
Classwork: 2-3 Reading Comprehension