Dec 13

Economics – 12/13/19

I.  Bellwork:  on Google Classroom

II.  Objective

  • Discuss and explain why and how economic growth is measured using GDP
  • Determine the meaning of words and phrases as they are used in the text through discussion and the use of thinking maps

III. Discussion on GDP

View the following

IV. Notebook -Thinking Maps on GDP – created by you

  • Circle Map –What is and what isn’t GDP? (P. 320)
  • Brace Map – Components of GDP (P. 327)

V. Classwork

  • Page 319 Vocabulary (20)
Dec 13

AP Economics – 12/13/19

I. Bellwork – Pg 704 FRQ #2

II.  Objectives

  • Distinguish between perfectly competitive and imperfectly competitive labor markets
  • Analyze and construct supply graphs for labor for firm and perfectly competitive and imperfectly competitive labor markets
  • Determine the point where workers will continued to be hired for perfectly competitive and imperfectly competitive labor markets

III.  Discussion Pages 710-712

A  Equilibrium in the Labor Market

  • Figure 71.3 p 710 Perfectly competitive –
  • Market Labor curve is horizontal   
  • Equilibrium Wage =MFCL
  • Hire until MRPL = Market Wage

B. When the Labor Market is Not Perfectly Competitive

C.  Equilibrium in the Imperfectly Competitive Labor Market

  • Hire until MRPL = MFCL
  • Figure 71.4 P. 711 (marginal factor cost of labor is higher than the market labor supply curve)
  • Figure 71.5 p 712 Equilibrium wage is less than MFCL

IV.  Classwork – 71.3 – See Module 71 Worksheets on iLearn

V.  Homework 71.4 Part 1 & 2

Dec 13

Accounting – 12/13/19

I. Bellwork:  On Google Classroom 

II. Objectives:

  • Analyze the relationship between cost of education versus return on investment 
  • Compare costs of various higher education options 
  • Analyze costs beyond tuition associated with postsecondary education and training institutions
  •  Identify common types of risks and basic risk management methods 
  • Explain the role insurance can play in a risk management strategy

III. Classwork EverFi
(Summative total grade)

  • Financing Higher Education
  • Insurance

You should be finished with the entire module by the end of today

Dec 12

Economics – 12/12/19

I.  Bellwork: Q&A

A.  Explain the symbolism in this cartoon.

B.  Explain the point that is being made.

II.  Objectives

  • Demonstrate and apply an understanding of the various aspects of fiscal policy (spending and taxation) and its impact on society.
  • Integrate and evaluate multiple sources of information presented in different formats in order to address a question or solve a problem

III. Federal Budget Simulation Activity  (Directions are here and on Google classroom)

Link https://crfb.org/stabilizethedebt/# – 

When you are finished balancing the budget select View or Save PDF – you will need to send this file (Check your download folder for it) then submit it to Google Classroom

  Look at this – Budget Save PDF picture

Dec 12

Accounting – 12/12/19

I. Bellwork:  On Google Classroom – submit it there

II. Objectives

  • Assess the quality of sources when researching products to buy
  • Analyze the costs and benefits of renting vs. owning
  • Apply strategies for making informed decisions when purchasing consumer goods
  •  Understand the reason for using debt to finance purchases
  • Compare and select credit cards based on features and impact to personal financial plan 
  • Describe how credit repayment affects the cost of borrowing

III. Classwork:

EverFi (Summative total grade)

  • Consumer Skills
  • Managing Credit and Debt

You should complete the entire Program by the end of class Friday

Dec 12

AP Economics – 12/12/19

I.  Bellwork

  • Page 704 MC 1-5

II.  Objectives:

  • Describe how a worker’s decision about time preference gives rise to labor supply
  • Determine the equilibrium wage and level of employment in the labor market

III.Discussion

The Supply of Labor

A.  Work versus Leisure –

B.  Wages and Labor Supply

Ch3-Higher Wages and the Income and Substitution Effects

  1. Substitution Effect vs. Income Effect

a. Substitution effect – as wages (opportunity cost) increase people will choose work over leisure

b. Income effect – As people make more money and become better off financially, they want to consume more leisure. (Leisure is a normal good and demand increases with income).

Figure 71.1 Individual Labor Supply Curve (Backward bending Labor Supply Curve)

At lower wage rates  the substitution effect is strong (dominant)  and at higher wage rates the income effect is strong (dominant effect)

C.  Shifts of the Labor Supply Curve

  • Changes in Preference and Social Norms (Ex: More women working)
  • Changes in Population
  • Changes in Opportunities (new labor markets opening/old labor markets closing
  • Changes in wealth (not change in wages)

IV.  Classwork

71.1 & 71.2 on iLearn

Dec 11

Economics – 12/11/19

I. Bellwork: Q&A

A. Construct a formula (<,=, >)which demonstrates what needs to occur to cause each of the   following:

  1. Surplus
  2. Deficit
  3. Balanced Budget

II. Objectives:

  • Examine the impact of deficits, surpluses, and the national debt on the private sector.
  • Express the conditions related to deficits, surpluses, and a balanced budget using equations.
  • Determine the meaning of words and phrases as they are used in a text and relate to government spending

III.  Section 10-3 Discuss Pages 277-282

  • 10-3 Notes (Copy slides 3 & 4 in Your Notebook)
  • Crowding Out (Understand the concept and how it occurs)
    • When the government borrows money – Interest Rates ? causing consumption to ? , savings to ? and private investment to ?. 

IV.   Classwork Due Today

  • Vocabulary 10 Terms P 277 
  • Page 282 Q&A 2-4
  • Crowding Out questions on iLearn (Based on the video)
Dec 10

AP Economics – 12/11/19

I.  Bellwork

  • Page 698 FRQ #2 a-c

II.  Objectives:

  • Determine supply and demand in the markets for land and capital
  • Find the equilibrium in the land and capital markets
  • Explain how the demand for factors leads to the marginal productivity theory of income distribution

III.  Module 70 Markets for Land and Capital pages 699-703

A   Land and Capital

1. Demand in the Markets for Land and Capital

2. Supply in the Markets for Land and Capital

2. Equilibrium in Land and Capital Markets

B.  Marginal Productivity Theory

IV.  Examine the Following:

  • Figure 70.1 p.700
  • Figure 70.2 p.703

V.  Classwork/Homework on iLearn Section 13 Folder

  • 70.1 WS
  • 70.2 WS

VI.  Staple everyone’s work together when you give it to the sub

      Bellwork- one pile    Classwork – one pile

Dec 10

Accounting – 12/11/19

I. Bellwork:  Budget Challenge 

  • Pay Bills & Update Spreadsheet

 II. Objectives:

  • Reflect upon the topics covered in the budget challenge and how they will impact your financial decisions in the future.
  • Assess retention of concepts and skills related to person finance through Post Simulation Assessments
  • Maintain and update spreadsheet recording bank account activity.

 III. Classwork

A. Submit your Budget Challenge Spreadsheet on Google Classroom – It should be complete. 

B.. Finish all the Review Quizzes (3).  – Everything Closes on 12/12/19

Dec 09

Accounting – 12/10/19

I. Objectives:

  • Complete a worksheet using proper procedures, making adjustments, and determining Net income or loss
  • Apply knowledge of accounting terminology and concepts related to worksheet preparation

III.  Chapter 6 Exam:  On iLearn

  • Completing a Worksheet
  • Multiple Choice and T/F

IV. Tomorrow – Finish all Budget Challenge

V. Thursday – Friday Finish EverFi