AP Macro – 3/12/2020

I.  Bellwork

A.  Annual economic growth hits 3 percent, defying predictions of Trump critics

Summarize the article explaining its significance, what it is attributed to, and the  critics responses.

B. Page 372 FRQ #2

II.  Objectives:

• Illustrate changes in productivity using an aggregate production function
• Discuss how growth has varied among several important regions of the world and explain why the convergence hypothesis applies to economically advanced countries

III.  Discussion: Productivity and Growth Pgs. 373-382

MODULE 38 NOTES: AGGREGATE PRODUCTION FUNCTION

• Aggregate production function:  Tech x Physical capital per worker x Human capital per worker
• Diminishing Returns to physical capital
• Economic Freedom Quality of Life [MIRROR]
• Natural resources impact on economic growth
• Economic growth disparity (East Asia, Latin America, & Africa)

IV.  Classwork:  Due today

A.  Questions:

1. Explain diminishing returns to physical capital and provide an example of how it can occur. 2pts
2. P.378  FYI Explain the information technology paradox and how it is resolved. 2pts
3. P.381 FYI Explain the Convergence hypothesis.  the problem with the theory, and why conditional convergence is needed. 3pts

B.   MC page 382-383 MC 1-5

C.  P383 FRQ #2 a, b, c, & d (Draw a graph for each question with a small explanation) Watch video below

V.  Summative Classwork/Homework: 

A.  Select the link:  https://sffed-education.org/chairman/

1. Read and follow the directions on how to play the game.
2. When you win, hit CTRL & PRTSC to copy the screen.
3. Paste it on a Google document
4. Type a paragraph 6-8 sentences about the decisions you had to make, your strategy, and any problems you encountered. – 3 handwritten
5. Print it off or email it to me. farhoua@dearbornschools.org

1.  Scoring: 10 summative

• Successful completing and copy of the screen. 5 pts
• Typed Paragraph (6-8 sentences) about the decisions you had to make, your strategy, and any difficulties you encountered while playing the simulation. 5 pts
• If you are not successful, you will lose 3 points and still need to to everything mentioned above

C.  Homework – Formative 10 pts

Find an article on quantitative easing.  Describe it, determine why and how it is used. Explain its benefits and drawbacks. provide your opinion on its use, include a link to the article – 6-8 sentence

AP Macro W2020