Aug 28

AP Economics – 8/29/19

I.  Bellwork: Follow the directions below:

A.  Use a diagram (See yesterday’s diagram) to illustrate the trade-offs and opportunity cost below:

  1. If you had up to $100 to spend on only one product or service, make a list of at least 4 possible products or services you would consider purchasing with the $100.
  2. Now narrow the list to the top two choices
  3. Now list the item or service you would purchase.
  4. Under the diagram describe some of the things you would sacrifice (opportunity cost) related to the next best product or service you gave up?

II.  Objectives – SWD:

  • how scarcity and opportunity costs are present in economic decisions by constructing a production possibilities frontier graph.
  • the ability to make decisions involving trade-offs and opportunity costs explaining  the factors which influence their decision in relation to those economic concepts

III.  Identifying Trade-offs and Opportunity Costs 

B.  Production Possibilities Frontier 

  1. Production Possibilities Curve- Econ 1.1
  2. Shifting the Production Possibilities Curve (PPC)

IV.  Classwork/Homework

  1. Copy the Schedule Below
    • Label and plot the Production Possibility Frontier Curve
    • Write & Answer the two questions below
  2. Describe 3 situations which would cause production to be inside of the curve.
  3. Describe what a point outside the curve means.
Military Goods (Guns)5000480045004000330020000
Consumer Goods (Butter)0100020003000400050006000
Aug 28

School Store – 8/28/19

I.   Bellwork

  • Learning Plan on Google Classroom

II.    Objective:

Discuss and become familiar with classroom policies and procedures in order to have a successful semester.

III.  Classwork – Acknowledgment on Google Classroom
*Technology Use Agreement

*Syllabus

*Cell Phone Policy

IV. Classwork: Go to the DECA website

Find your event and its related sample event on the website

Read the sample event

*Write down all the Performance Indicators

*Write down the questions the judge will ask

*Answer each question fully (at least 1 paragraph) in relation to the performance indicators.

Aug 28

AP Economics – 8/28/19

I.    Bellwork Q&A

A.  Read (What is Economics?)

  1. What is the author’s claim?
  2. Provide two examples of evidence the author employs

II.   Objectives

  • Determine the meaning of words and phrases as they are used in a text through discussion and examples
  • Construct thinking maps using examples, explain how scarcity, choice, opportunity costs affect decisions that households, businesses, and governments make and explain how comparative advantage creates gains from trade.

III.  Discuss:  The Fundamental Economic Problem 

  • Scarcity
  • Factors of Production
  • Micro & Macro Economics
  • Positive & Normative Statements

IV.  Trade offs & Opportunity Costs Explained

V.   Notebook Work – Create Thinking Maps

VI. Review Questions on AP Classroom

Aug 26

All Classes – 8/27/19

I.  Bellwork:

  • What are some things that you believe you may learn in this class this semester?

  II. Objectives:

  • Discuss and become familiar with the requirements and expectations at MBCC and in the course.
  • Reflect upon individual strengths and weaknesses
  • Read, discuss, and review the course syllabus

III. Please complete the Personal Inventory on Google Classroom

IV. Course Syllabus

Accounting1-3 Sequence Syllabus

2019 Economics Syllabus

May 15

AP Economics – 5/15/19

I.  Objectives:

  • Analyze and construct economic models related to the Micro and Macro FRQ’s
  • Review and apply concepts related to  Micro and Macro economics to prepare for the AP Exam.

II.  Video Project – See iLearn for Details

The project must be completed and submitted by

  • May 23, 2019 for seniors.
  • Juniors have until May 30, 2019

III.  Turn in one of the following:

  • Macro FRQ #1-3
  • Micro FRQ  #1-3

IV.  Classwork on iLearn

  • MICRO FRQ 1-3B

V.  AP Exam

  • Macro – May 15 – noon
  • Micro –  May 17 – morning

VI.  Macro Final Exam 

  • 5/21 FRQ
  • 5/22 MC
Apr 08

AP Economics – 4/08/19

I. Bellwork

  • Page 178-179 Tackle the Test 1-5 & p. 171 #2

II.  Objectives:

  • Use the aggregate supply curve to illustrate the relationship between the aggregate price level and the quantity of aggregate output supplied in the economy
  • Identify the factors can shift the aggregate supply curve
  • Explain why the aggregate supply curve is different in the short run from in the long run

III.  Discuss: Video Assignment Updated on i Learn

IV.  Aggregate Demand:  Introduction & Determinants pages 180-191

A,  Aggregate Supply – Clifford

B.  Short-run Aggregate Supply

  • Wages and Resource Prices WILL NOT increase as price levels increase.

C,  Noteboook:  Factors that shift Short-Run Aggregate Supply and Graphs (Page 185)

D,  Long-run Aggregate Supply

  • Wages and Resource Prices WILL increase as price levels increase.

V.  Classwork on iLearn

  • 3.2 Aggregate supply Practice – Due today
  • 18.1 & 18.3 Due on Friday
Mar 05

AP Economics – 3/06/19

I.  Bellwork: Q&A

Why Panic-Prone Emerging Markets Are Breaking Down In 2014

1.Why does the article say that the markets are breaking down?

2. How does this impact economic growth?

II.  Objectives:

  • Discuss the factors that explain why long-run growth rates differ so much among countries
  • Explain the challenges to growth posed by scarcity of natural resources, environmental degradation, and efforts to make growth sustainable

III.  Notebook/Discussion – Copy Graph

IV.  Discussion:  Growth Policy page 384-392

A,  Growth Rate Differences

  1. Physical Capital – Where does the money originate?
  2. Human Capital – Ways to support it.
  3. Technology – R&D

B.  How Government Prompts Economic Growth

  1. Physical capital – Infrastructure
  2. Human Capital – Education
  3. Technology –
  4. Stability, Property Rights, Eliminate restrictions

C.  Sustainability of Long Run Economic Growth

D.  Economic Growth and the Environment

  • pollution, greenhouse gases, global warming, negative externalizes

V.  Classwork

  • iLearn Ch 38&39 Questions (Test Monday)