Economics – 11/13/13

I.  Bellwork  Q&A

1.  Graph an example of a Price Floor

• Who benefits from it?
• What does it create (shortage/surplus)?
• Provide an example.

2.  Graph an example of a Price Ceiling.

• Who benefits from it?
• What does it create (shortage/surplus)?
• Provide an example

II.  Objectives:

• Analyze and provide examples of how price controls are practiced and their impact.
• Identify the impact resulting from changes in Demand and Supply on equilibrium Price and Quantity
• Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.

III.  Notebook Work-Mapping

• Price Controls-  Bridge Map

IV.  Discussion & Analysis

• Farm Subsidies — Stossel in the Classroom
• Changes in Demand and Supply Curves

• Economics University Game

V.  Classwork

• Supreme Court Rejects Rent Control Challenge
  • Summarize the article -1 paragraph
  • Explain if rent controls should be abolished or if they are necessary.  1-paragraph
• Chapter 6 Review Sheet-Due tomorrow
• C6_2_Market_Curves

VI.  Exit ticket:

• List some concepts from Ch 6 that you are confident about knowing.
• List some concepts from Ch 6 that you are still need to review.

 

Economics F2013