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Warm-Up

In your journal, write a list of words that describe the picture below. Warm-Up. C hanges in the larger economy impact individuals and their financial lives. The BIG idea.

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Warm-Up

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  1. In your journal, writea list of words that describe the picture below. Warm-Up

  2. Changes in the larger economy impact individuals and their financial lives. The BIG idea • Standards (Colorado Career and Technical Standards): SS09-GR.HS-S.3-GLE.5-EO.cExplain how economic cycles affect personal financial decisions • MAHR.03.02Exhibit behaviors and actions to effectively motivate and lead change. • MAHR.03.02.aIdentify and describe reasons for macro- and micro-economic change (change in the community, industry, internal and external operations).

  3. So what ?! The economy affects you too! SW By the end of this lesson, you will be able to:Use new vocabulary to describe how changes in the economy impact the financial decisions people make.

  4. Remember Me? In your vocabulary log, copy down the four new words Vocabulary EVOLUTION INNOVATION FLUCTUATION VOLATILITY

  5. DEFINITION: The gradual process of changing or developing over time SYNONYMS:unfoldingchangeprogressionmetamorphosis EVOLUTION[ev-uh-loo-shuhn] ANTONYMS: stasisinactivitychangelessness EXAMPLES:“According to Charles Darwin, natural selection explains human evolution.”

  6. DEFINITION: A new idea or way of doing somethingThe act of creating something new SYNONYMS/SIMILAR TERMS:inventioncreation INNOVATION[in-uh-vey-shuhn] ANTONYMS/NON-EXAMPLES:customstandardstatus quo EXAMPLES:“The segway is an example of an innovation that failed to gain popularity.”

  7. DEFINITION: A “back and forth” change in the amount, value, or level of something SYNONYMS:variationvacillation FLUCTUATION[fluhk-choo-ey-shuhn] ANTONYMS:uniformitysteadiness EXAMPLES:“I have such wide weight fluctuations, 3 lbs. or more from one day to the next.”

  8. DEFINITION: Used to describe sharp, sudden, unpredictable changes, e.g., price or value SYNONYMS/SIMILAR TERMS:unstableeruptiveunsettled VOLATILITY[vol-uh-til-i-tee] ANTONYMS/NON-EXAMPLES:predictabilitysteadiness EXAMPLES:“Beware of my anger management issues and emotional volatility.”

  9. Put it in your own words! In your groups, complete your vocabulary log entries Vocabulary EVOLUTION INNOVATION FLUCTUATION VOLATILITY

  10. With your partner, practice the vocabulary by playing Memory Practice Memory

  11. As Goes Janesville Review the Viewing Guide; watch the video; after each part, compare your answers with your partner Part 1: IntroductionPart 2: Meet CindyPart 3: Cindy Struggles Part 4: Turning the Corner

  12. As assigned, start working on your writing task using all your resources (notes, vocabulary log, dictionary, etc.). This is independent work: if you have questions, raise your hand and I will come help you! Writing Tasks As you work, think about how you can use our new vocabulary terms to describe changes in the larger economy and how these changes impact people’s lives.

  13. For your homework, complete your writing task. Remember, this is independent work: if you have questions, come find me and I will help you! Wrapping It Up Changes in the larger economy impact individuals and their financial lives.

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