Friday, October 19 (pep rally)

1. Friday, October 19 (pep rally) • Activities: • Pure competition practice questions. • Pure competition practice FRQs • Homework: • Chapter 25 reading notes due Tuesday! These need to be good! • Pure competition FRQ on Wednesday! Warm-up #4 Draw a correctly-labeled graph showing the profit-maximizing quantity for a purely competitive firm currently in long-run equilibrium.

2. Monday, October 22 • Activities: • Pure competition practice FRQs • Homework: • Chapter 25 reading notes due tomorrow! • Pure competition FRQ and SSR moved to Thursday! Warm-up #5 Assume that the pineapple industry is purely competitive. If pineapple producers are operating with losses, what will happen to the industry in the long run?

3. Tuesday, October 23 (substitute) • Activities: • Turn in reading notes. • Graphing pure competition • Homework: • SSR on Thursday this week! • Pure competition FRQ on Thursday!

4. Wednesday, October 24 • Activities: • Turn in reading notes. • SSR (I changed my mind)! • Catch-up: group activity, pure competition practice questions, pure competition practice FRQs • Homework: • PURE COMPETITION FRQ moved to Friday! • Resource markets FRQ re-takes TOMORROW during class. Warm-up #6 Draw a graph of a profit-maximizing purely competitive firm currently operating at a profit. Show price and quantity.

5. Thursday, October 25 • Activities: • FRQ re-takes • Go over pure competition practice questions and practice FRQs. • Graphing practice (if time) • Homework: • Pure competition FRQ tomorrow!!! STUDY and DRAW the graphs several times! NO warm-up.

6. Friday, October 26 • Activities: • Pure competition FRQ • Pg. 461 #5, 7 and 8 (you will have to read pg. 459 to answer #8) • Homework: • Finish pg. 461 assignment. NO warm-up.

7. Monday, October 29 • Activities: • Pure monopoly interactive lecture • Monopoly practice FRQs (if time) • Homework: Warm-up #7 Why is a purely competitive firm a price-taker?

8. Tuesday, October 30 • Activities: • Return pure competition FRQs • Monopoly practice FRQs • Homework: • Finish monopoly practice FRQs. • Pure competition FRQ re-takes Wednesday and Thursday during tutorials! I have a meeting Thursday morning, but wait for me! • Monopoly FRQ on Friday! Warm-up #8 Draw a correctly-labeled graph of a purely competitive firm currently earning a loss. What will happen in this industry in the long run?

9. Wednesday, October 31 • Activities: • Turn in monopoly practice FRQs. • SSR • Finish monopoly notes. • Start monopolistic competition interactive lecture. • Homework: • LAST CHANCE - Pure competition FRQ re-takes until 4:00pm! • Monopoly FRQ on Friday! Warm-up #9 Draw a correctly-labeled graph showing a monopoly firm currently earning a profit. Explain whether or not this firm is being efficient.

10. Thursday, November 1 • Activities: • Go over monopoly practice FRQs. • Monopolistic competition interactive lecture. • Unit Three practice (if time) • Homework: • MONOPOLY FRQ tomorrow! Warm-up #10 Explain the dilemma of regulation for a monopoly.

11. Friday, November 2 (sub) • Activities: • FRQ • Reading notes • Homework: • Chapter 30 reading notes due Tuesday! No warm-up.

12. Monday, November 5 • Activities: • Last slide of monopolistic competition • Unit Four practice • Homework: • Chapter 30 reading notes due tomorrow! Warm-up #11 List the four types of market structures in order of price control, starting with the type that has the most price control.

13. Tuesday, November 6 • Activities: • Turn in Chapter 30 reading notes. • Return FRQs. • Oligopoly interactive lecture • Homework: • Pure Competition and Monopoly FRQ re-takes THURSDAY during class! Warm-up #12 Which product market structure is the most efficient? Explain.

14. Wednesday, November 7 • Activities: • SSR • Finish practice from Monday. • Game theory practice • Homework: • Pure Competition and Monopoly FRQ re-takes TOMORROW during class! • TEST ON TUESDAY! Warm-up #13 Explain the concept of excess capacity for a monopolistically competitive firm.

15. Thursday, November 8 • Activities: • FRQ re-takes • Finish and turn in game theory practice. • “Public Goods and Externalities” reading and questions • Homework: • TEST ON TUESDAY! Warm-up #14 (turn in today) If there are four firms in an oligopoly industry, and each firm controls an equal percentage of the market, then what will the Herfindal index be for each firm?

16. Friday, November 9 (sub) • Activities: • Finish public goods reading and questions. • Test review • Homework: • TEST ON TUESDAY!

17. Monday, November 12 • Activities: • Test review • Homework: • TEST TOMORROW! If you are absent tomorrow, you will take the test in class on Wednesday. No warm-up.

18. Tuesday, November 13 • Activities: • TEST • Homework: • SSR tomorrow. No warm-up.

19. Wednesday, November 14 • Activities: • SSR • Taxation reading and questions • Homework: • None! No warm-up.

20. Thursday, November 15 • Activities: • Finish and turn in taxation reading and questions. • Homework: • None! No warm-up.

21. Friday, November 16 (blood drive) • Activities: • If you need to finish the taxation reading and questions, then get a handout from my desk. • Video – The People’s Republic of Capitalism: Joined at the Hip • Homework: • HAVE A FANTASTIC BREAK! No warm-up.

22. Monday, November 26 (sub) • Activities: • New reading notes • Externalities interactive lecture • Homework: • Chapter 6 reading notes due Friday!

23. Tuesday, November 27 (sub) • Activities: • Finish externalities lecture. • Practice • Homework: • Chapter 6 reading notes due Friday!

24. Wednesday, November 28 • Activities: • SSR • Graphing sheet • FRQ practice • Homework: • Finish FRQ practice. • Chapter 6 reading notes due Friday! • Externalities FRQ on Tuesday! • TEST NEXT WEDNESDAY! No warm-up.

25. Thursday, November 29 (sub) • Activities: • Taxation interactive lecture • Homework: • Chapter 6 reading notes due tomorrow! • Externalities FRQ on Tuesday! • TEST ON WEDNESDAY!

26. Friday, November 30 • Activities: • Turn in reading notes. • Hold onto your FRQ practice. • Video • Homework: • Externalities FRQ on Tuesday! • TEST ON WEDNESDAY! Warm-up #15 Sophia buys a high-powered bug killer for her backyard. Her neighbor, Ava, has no method for killing bugs. Ava ends up with fewer bugs in her yard as well. This is an example of A) a negative externality. B) a spillover cost. C) a spillover benefit. D) overallocation of bug killer. E) a public good.

27. Monday, December 3 • Activities: • Go over handouts and graphs. • Test review • Homework: • SSR tomorrow. • Externalities FRQ on TOMORROW! • TEST ON WEDNESDAY! Warm-up #16 What can the government do in order to eliminate negative externalities? A) Encourage production by using subsidies. B) Encourage production by using taxation. C) Discourage production by using direct controls or taxation. D) Discourage production by using subsidies and providing it as a public good.

28. Tuesday, December 4 • Activities: • SSR • Externalities FRQ • Test review • Homework: • Chapters 37 reading notes due Friday! Warm-up #17 Allocative efficiency occurs when A) the socially-optimal output is produced. B) price equals marginal cost for a firm. C) marginal revenue equals marginal cost. D) the best mix of goods and services are produced. E) all of the above.

29. Wednesday, December 5 • Activities: • TEST • Work on reading notes. • Homework: • Chapters 37 reading notes due Friday! No warm-up.

30. Thursday, December 6 • Activities: • Absolute and comparative advantage interactive lecture • Practice • Homework: • Reading notes due tomorrow! Warm-up #18 Jesse couldn't afford a ticket to a Rough Riders game, so he watches the game from a nearby hill instead. Jesse is A) creating spillover costs for the game. B) showing the spillover benefits of the game. C) an example of a free-rider. D) providing a public good. E) a negative externality.

31. Friday, December 7 • Activities: • Turn in reading notes. • Finish and turn in absolute and comparative advantage practice. • Homework: • Absolute and comparative advantage FRQ on Tuesday! NO RE-TAKES! Warm-up #19 If the social marginal benefit of a good exceeds the private marginal cost of the good, then A) there is an overallocation of resources to that good. B) there is an underallocation of resources to that good. C) there are spillover costs associated with the good. D) too little of the good is being produced for society's preference.

32. Monday, December 10 • Activities: • Go over absolute and comparative advantage practice. • Welfare Effects of Trade interactive lecture • Homework: • Absolute and comparative advantage FRQ tomorrow! NO RE-TAKES! Warm-up #20

33. Tuesday, December 11 • Activities: • FRQ • Welfare Effects of Trade practice • Homework: • Finish practice. No warm-up

34. Wednesday, December 12 • Activities: • Turn in practice. • SSR • Finish trade. • Homework: Warm-up #21 (turn in today)

35. Thursday, December 13 • Activities: • AP FRQs – TEST GRADE - due at the end of the period tomorrow! • Homework: No warm-up!

36. Friday, December 14 • Activities: • AP FRQs – TEST GRADE - due at the end of the period! • Homework: No warm-up!