Meetings will return to Big Blue Button – i have been told it’s fixed
2nd Period AP Econ – 12:00 – 12:30 pm Tues & Thursday
Work for Wednesday and Friday is below:
II. Objectives
- Explain the difference between short-run and long-run macroeconomic equilibrium
- Describe the causes and effects of demand shocks and supply shocks
- Determine if an economy is experiencing a recessionary or an inflationary gap and explain how to calculate the size of an output gap
III. Discuss Video Assignment on iLearn
IV. Equilibrium in the Aggregate Demand/Supply Model pgs 192-199
V. Notebook
A. Bridge Map P194
- Impact of Negative Demand Shocks
- Impact of Positive Demand Shocks
B. Bridge Map P195
- Impact of Negative Supply Shocks
- Impact of Positive Supply Shocks
C. Discuss stagflation
D. Copy and Label Figure 19.4 p 196
E. Short Run to Long Run
- Impact of Recessionary Gap
- Impact of Inflationary Gap
Macro 3.3- Long Run Aggregate Supply, Recession, and Inflation (LRAS)
VI. Classwork DUE WEDNESDAY
II. Objectives
- Discuss how the AS–AD model is used to formulate macroeconomic policy
- Explain the rationale for stabilization policy
- Describe the importance of fiscal policy as a tool for managing economic fluctuations
- Identify the policies that constitute expansionary fiscal policy and those that constitute contractionary fiscal policy
III. Economic Policy Aggregate Demand & Supply Model pgs 201-208
A Macroeconomic Policy
- Policy in the Face of Demand Shocks – Examples
- Responding to Supply Shocks – Difficult and only resolves one on the issues
B. Fiscal Policy: The Basics
- Taxes, Purchases of Goods and Services, Government Transfers, and Borrowing
- Explain in terms of Expansionary & Contractionary Policy
- The Government Budget and Total Spending
- Expansionary and Contractionary Fiscal Policy
- A Cautionary Note: Lags in Fiscal Policy
- Major Lags -Recognition, Decision, & Implementation
iV, Read Exam Tip on Page 207
V. Classwork
- 20.5 WS on iLearn – Due Friday