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AP Macroeconomics September 2, 2014

AP Macroeconomics September 2, 2014. Objective : Unit 1 Topic E: The United States in the Global Economy Warm up—What is comparative advantage? Overview of comparative advantage, absolute advantage, specialization, and exchange. Reading : Chapter 5, pages 85-99

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AP Macroeconomics September 2, 2014

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  1. AP MacroeconomicsSeptember 2, 2014 Objective: Unit 1 Topic E: The United States in the Global Economy • Warm up—What is comparative advantage? • Overview of comparative advantage, absolute advantage, specialization, and exchange. • Reading : Chapter 5, pages 85-99 • Graphs: U.S trade and GDP (p86), Market for yen (p93) Unit I Exam Wednesday

  2. Economics—period 4September 2, 2014 Objective: Basic economic concepts ESLR: Critical thinkers • Warm up—What is an externality? • Externality discussed and examples • Public goods and Market failure: Reading (p64), questions (p66 1-7) • Economics USA: Public goods and responsibilities (video, questions, discussion) review

  3. Economics—period 5September 2, 2014 Objective: Basic economic concepts ESLR: Critical thinkers • Warm up—What is an externality? • Externality discussed • Economics USA: Public goods and responsibilities (video, questions, discussion) review • Public goods and Market failure: Reading (p64), questions (p66 1-7)

  4. US HistorySeptember 2, 2014 Objective: Reconstruction • Warm up—What was Reconstruction? • Collect brochures • Reconstruction (reading, video, notes) • Page 189 (2-3)

  5. AP MacroeconomicsSeptember 3, 2014 Objective: Unit 1 Exam • Warm up—What is absolute advantage? • Unit I Exam • Unit 2 Topic A (discussion, notes) HW Reading: Unit 2 Topic A

  6. Unit 1 packet • Warm ups from 8/13-today • Homework from chapters 1,2, 3 • USA Today worksheets (2) • Supply and demand worksheet • Graphs • Any notes you want to turn in

  7. Economics—period 4 and 5September 3, 2014 Objective: Public goods ESLR: Critical thinkers • Warm up—What was the TVA? (see Economics USA worksheet) • Who should get public assistance? (the poor, disabled, children, elderly, unemployed) Explain. • Providing a safety net (reading p 67-70) • Questions p70 (1-4, 6) • Page 66 1-3 Quiz Friday

  8. US HistorySeptember 3, 2014 Objective: Reconstruction • Warm up—What was the Ku Klux Klan? What were their 4 goals mentioned in the book? • Review Page 189 (2-3) • Summary of The Union in Peril (reading) • Mathew Brady (photographing the Civil War) • Who is Mathew Brady? • Find a famous photo of his of the Civil War. Write about it. Describe the photo and the conditions it portrays. Two paragraphs

  9. AP MacroeconomicsSeptember 4, 2014 Objective: Unit 1 Exam • Warm up—Explain the difference between a good and service? Give three examples of each. • Unit 2 Topic A and B (discussion, notes) Read Chapter 6; answer 2,3,4,11,12,13 on page 122

  10. Economics—period 4 and 5September 4, 2014 Objective: Public goods ESLR: Critical thinkers • Warm up—What are government redistribution programs? Give examples. • Questions review p70 (1-4, 6) p66 (1-3) • Public assistance (short video, notes) • Externality review • Making an economic argument • Vocabulary exercise • Study questions for tomorrow’s quiz Quiz Friday

  11. Study questions • What are public goods? Give an example. Explain how this public good wouldn’t be produced otherwise. • What are externalities? Give examples of both positive and negative externalities. • What is the safety net? Give examples of redistribution programs. Why do these programs make good economic sense?

  12. US HistorySeptember 4, 2014 Objective: Reconstruction • Warm up—Who was Mathew Brady? • Mathew Brady (reviewed) • Summary of The Union in Peril (reading) • Vocabulary review worksheet Quiz tomorrow on Chapter 4

  13. AP MacroeconomicsSeptember 5, 2014 Objective: Unit 2: National Income • Warm up—Explain the difference between a durable and a nondurable good. Give examples. • Unit 2 Topic A and B (discussion, notes) • GDP worksheet • Chapter 6; answer 2,3,4,11,12,13 on page 122

  14. Economics—period 4 and 5September 5, 2014 Objective: Public goods ESLR: Critical thinkers • Warm up—Explain the opportunity cost of eating tacos for breakfast. • Quiz • The People Bomb (1 and 2) • Making an economic argument

  15. U.S. HistorySeptember 5, 2014 Objective: Chapter 4 Exam • Warm up—Why did the U.S. have a Civil War? • Exam on Chapter 4 • Next steps

  16. AP MacroeconomicsSeptember 8, 2014 Objective: Unit 2: National Income • Warm up—List three areas of economic activity excluded from GDP. • GDP worksheet • The Business cycle • Economics USA

  17. Economics—period 4 and 5September 8, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—How do we know the price of a good is too high? • Demand(reading, questions) • Graphing demand • Economics USA—Demand • Supply

  18. U.S. HistorySeptember 8, 2014 Objective: Chapter 5 • Warm up—What are the Great Plains? • Native Americans and the West (reading p202-203) • Items 1 and 2 on page 211 • America’s Great Indian Nations (video, notes) Homework: Complete items 1 & 2 on page 211

  19. AP MacroeconomicsSeptember 9, 2014 Objective: Unit 2: National Income • Warm up—Draw the business cycle. Label the parts. Explain the purpose of the diagram. • The Business cycle reviewed • Unemployment • Economics USA reviewed Page 144 (2, 4, 6, 9-12, 14)

  20. Economics—period 4 and 5September 9, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—Draw a generic demand curve. Label the Price and quantity properly. • Demand (quick review) • Supply (reading, notes, schedules and graphs) • Economics USA—Supply

  21. U.S. HistorySeptember 9, 2014 Objective: Chapter 5 • Warm up—Who was Sitting Bull? • Sitting Bull (p204) • Review items 1 and 2 on page 211 • Bloody Battles Continue (p206) • Custer’s last stand (video, notes) • Questions (p226 Main ideas 1-4) Finish questions for homework

  22. AP MacroeconomicsSeptember 10, 2014 Objective: Unit 2: National Income • Warm up—What is the Labor Force? • Unemployment quick review • Inflation • How inflation changes individual and business decisions • Homework review (p.144 2, 4, 6, 9-12, 14)

  23. Economics—period 4September 10, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—Draw a generic supply curve. Label the Price and quantity properly. • Supply meets demand (notes, graphs, questions) • Changes in supply and demand (Reading, questions) p131 1-3 HOMEWORK: p 158 Reviewing the Facts (1-8)

  24. Economics—period 5September 10, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—Draw a generic supply curve. Label the Price and quantity properly. • Supply meets demand (notes, graphs, questions) • Changes in supply and demand (Reading, questions)p131 1,2,4 and 7 HOMEWORK: p202 Recalling facts and Ideas (1-10)

  25. Graph the following schedules for ollygoggles on your graphing paper

  26. Questions • At what price will 15 ollygoggles be demanded? • At what price will 12 ollygoggles be supplied? • What happens in the market at a price of $5? • What happens in the market at a price of $15? • What is the quantity demanded of ollygoggles at $12.50? • What is the equilibrium price of ollygoggles?

  27. U.S. HistorySeptember 10, 2014 Objective: Chapter 5 • Warm up—What happened at the Battle of Little Big Horn? • Homework Questions (p226 Main ideas 1-4) • Chapter 5 summary (reading, questions) • Chapter 5 worksheet • Review

  28. AP MacroeconomicsSeptember 11, 2014 Objective: Unit 2: National Income • Warm up—What is the CPI? • How inflation changes individual and business decisions • Macroeconomic relationships • Homework review (p.144 2, 4, 6, 9-12, 14) EXAM on Unit 2 Wednesday September 17

  29. Economics—periods 4 and 5September 11, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—The equilibrium price of ollygoggles is $12.50. What happens if the price drops to $10.00? Draw a graph representing this situation. • I am a pencil. (video, notes) • Supply and demand quick review • Homework check • Changes in supply and demand (Reading, questions)

  30. U.S. HistorySeptember 11, 2014 Objective: Chapter 5 • Warm up—What was the Dawes Act? • Chapter 5 summary continued (reading, questions) • Chapter 5 worksheet review • Chapter 5 assessment

  31. Welcome Parents! Steven Clotzman Room G-11 • 6:07 – 6:19 pm   Period 2 AP Macroeconomics • 6:24 – 6:36 pm   Period 3 AP Macroeconomics • 6:41 – 6:53 pm   Period 4 Honors Economics • 6:58 – 7:10 pm   Period 5 Economics • 7:15 – 7:27 pm   Period 6 U.S. History

  32. AP MacroeconomicsSeptember 12, 2014 Objective: Unit 2: National Income • Warm up—Explain the relationship between the rate of inflation and interest rates. • Macroeconomic relationships • Homework review (p.144 2, 4, 6, 9-12, 14) • Is Wal-Mart good for America? HOMEWORK ECONOMICS: Go to www.mrclotzman.com Watch the video on YouTube OR PBS Frontline Summarize the debate over Wal-Mart. Answer the question: Is Wal-Mart good for America? What are the pros and cons of Wal-Mart as a retail giant? What business practices give them a competitive edge in the marketplace? (3 paragraphs) EXAM on Unit 2 Wednesday September 17

  33. Economics—periods 4 and 5September 12, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—What does it mean to say no one person knows how to make a pencil? • Normal v Inferior goods • Supply and demand review • Is Wal-Mart good for America? (video, notes, homework) HOMEWORK ECONOMICS: Go to www.mrclotzman.com Watch the video on YouTube OR PBS Frontline Summarize the debate over Wal-Mart. Answer the question: Is Wal-Mart good for America? What are the pros and cons of Wal-Mart as a retail giant? What business and practices give them a competitive edge in the marketplace? (3 paragraphs)

  34. U.S. HistorySeptember 12, 2014 Objective: Chapter 5 • Warm up—Why did Native Americans resist assimilation into white culture? • The Dawes Act examined (video, notes) • Chief Joseph (reading, questions) https://www.youtube.com/watch?v=eKze102dlPg

  35. AP MacroeconomicsSeptember 15, 2014 Objective: Unit 2: National Income • Warm up—What is the multiplier effect? • Collect Homework: Is Wal-Mart good for America? • Economics USA: John Maynard Keynes • Macroeconomic relationships and the Multiplier effect HOMEWORK ECONOMICS: p163-164 (3-10) EXAM on Unit 2 Wednesday September 17

  36. 1 MULTIPLIER= ------ 1 - MPC

  37. The multiplier • Explain the effect of $25 billion in additional government spending with an MPC of 80%. • Explain the effect of $50 billion reduction in government spending with an MPC of 75%. • Explain the effect of $275 billion additional spending in the economy with a MPC of 60% • Explain the effect of rising unemployment that accounts for a $125 billion reduction in household incomes with a MPC of 66%. • Explain the effect of $75 billion in additional unemployment benefits with a MPC of 90%.

  38. Economics—periods 4 and 5September 15, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—How does income influence the demand for a good? • Collect Homework: Is Wal-Mart good for America? (video, notes, homework) • Supply and Demand practice review • Supply and demand worksheet

  39. U.S. HistorySeptember 15, 2014 Objective: Chapter 6: Industrial revolution • Warm up—What do the words “rural” and “urban” mean? • Letter from the factory • Industrialization (video) • Book on Industrialization. Three sections and a map. Population growth • Grade test

  40. AP MacroeconomicsSeptember 16, 2014 Objective: Unit 2: National Income • Warm up—Explain why a $10,000,000,000 reduction in food stamps might be bad economics. • Multiplier reviewed • Homework review • Examine the effect of $10,000,000,000 in tax cuts EXAM on Unit 2 Wednesday September 17

  41. Economics—periods 4 and 5September 16, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—A reduction in the number of workers will have what effect on the overall supply of a good? Draw the appropriate graph. • Supply and demand worksheet • Review

  42. U.S. HistorySeptember 16, 2014 Objective: Chapter 6: Industrial revolution • Warm up—What is industrialization? • Industrialization (video) • Your book on Industrialization. • Three sections • A map • A graph showing some data change • Pictures. • A letter from the factory

  43. AP MacroeconomicsSeptember 17, 2014 Objective: Unit 2: National Income • Warm up—Explain the relationship between Consumption and Savings. • Unit 2 Exam • Unit 3 introduced READING: Unit 3 Topic A

  44. Unit 2 packet Warm ups Homework for chapters 6, 7, and 8 WS on Econ USA, GDP, and inflation Additional notes Exercise for multiplier

  45. Economics—periods 4 and 5September 17, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—People who can’t afford ollygoggles often go to fortune tellers. What effect will a drop in the price of ollygoggles have on the overall demand for fortune telling? Draw the appropriate graph. • Review Supply and demand worksheet • Economics USA: What sets the price?

  46. U.S. HistorySeptember 17, 2014 Objective: Chapter 6: Industrial revolution • Warm up—What advantages in production do machines have over people? • Your book on Industrialization. • Three sections • A map • A graph showing some data change • Pictures. • A letter from the factory (research and writing)

  47. AP MacroeconomicsSeptember 18, 2014 Objective: UNIT III. MACROECONOMIC MODELS AND FISCAL POLICY • Warm up—What did Keynes advocate that was different from classical economic thinking? Explain. • Aggregate Expenditures Model • Equilibrium GDP (p170), Net exports and equilibrium GDP (p174), Government spending and equilibrium GDP (p177), Taxes and equilibrium GDP (p174), Recessionary and inflationary expenditure gaps (p180) • The Commanding Heights READING: Unit 3 Topic A (chapter 9)

  48. Economics—periods 4 and 5September 18, 2014 Objective: Supply and Demand ESLR: Critical thinkers • Warm up—One necessary resource for making ollygoggles is doodle-dandies. If the price of doodle-dandies drops, what will happen to the supply of ollygoggles? Draw the appropriate graph. • Choose four graphs. Make up a market situation that these could represent. • Questions (p.147 9-15, 18-22) HOMEWORK: Take the practice quiz on the Economics resource page at www.mrclotzman.com. EXAM tomorrow!!!!

  49. U.S. HistorySeptember 18, 2014 Objective: Chapter 6: Industrial revolution • Warm up—What is labor? • A letter from the factory (writing) • Your book on Industrialization. • Three sections • A map • A graph showing some data change • Pictures.

  50. A letter from the factory Paragraph one: Introduction, what kind of factory, where is it located, how you got there. Paragraph two: What you do, the conditions in the factory, things that have happened and what you’ve witnessed. Paragraph three: Your future, plans, expectations, etc.

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