Feb 24

Government – 2/25/2020

I.  Bellwork

  • on iLearn from Section 2-4

II.  Objectives

  • 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

  • Ratification
  • Notes:  Federalist v Anti-Federalists
  • Inauguration

IV.  Classwork

  • Reading Comprehension 2.5
  • Core Worksheet

V.  Quiz Tomorrow Sections 2.4 & 2.5

VI.  Chapter 2 Test Friday

Feb 24

AP Macro – 2/25/2020

I.   Bellwork

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.

II.  Objectives:

  • 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

  1. The Classical Model of Money and Prices
  2. The Inflation Tax
  3. 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

IV.  Videos:

V.  Classwork on iLearn

  • 33.1 WS Inflation Tax
  • 4.6 Monetary Policy in Action