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Week 2 Objectives

Week 2 Objectives. Identify the three types of economic systems Summarize the goals that influence decisions about production and consumption of goods Compare and contrast the role of government in a command economy and a market economy Summarize the characteristics of a free enterprise system.

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Week 2 Objectives

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  1. Week 2 Objectives • Identify the three types of economic systems • Summarize the goals that influence decisions about production and consumption of goods • Compare and contrast the role of government in a command economy and a market economy • Summarize the characteristics of a free enterprise system

  2. Monday 1-13 • Bell Work-copy types of econ matrix • Review week one concepts of scarcity, opportunity cost, principles that guide an economic way of thinking. • Econ Lab: working with scarce resources-smores

  3. Tuesday 1-14 • Review types of econ matrix • Group Review and quiz of econ systems • Group study and share out of economic goals: students are assigned one goal to study and share out with the class

  4. Block day 1-15, 1-16 • Bell work- complete questions about one economic goal • Group share out of one economic goal • Take notes from the student answers written on the board • Introduce the characteristics of a free enterprise system

  5. Week 3 Objectives • Describe the three types of business organization. • Summarize the advantages and disadvantages of a sole proprietorship, partnership, and corporation. • Explain the reasons that cause firms to merge. • Identify two different types of mergers. • Describe and illustrate the concept of demand. • Explain what causes a change in quantity demanded • Describe the factors that could cause a change in demand.

  6. Tuesday 1-19 FAFSA P.I.N. Workshop Bell Work: Draw a table using pages 57-66

  7. Objectives • Explain the reasons that cause firms to merge. • Identify two different types of mergers.

  8. Block 1-20, 1-21 Bell Work: • When it comes to partnerships one disadvantage is limited life. What does it mean when a business has limited life? • Identify the two types of partnerships. • Explain the term bankruptcy and why it is considered a possible outcome of a partnership. • Which type of business requires permission from the government and what is that document called?

  9. Bell Work • How Businesses Grow • Why Businesses Merge • Graphic Organizers • Quiz

  10. Graphic Organizers: Two Ways Businesses Grow: Reinvestment- Earnings put back into business to build firm. Mergers- Horizontal /Vertical

  11. Graphic Organizers:

  12. Graphic Organizers: Reasons Why Businesses Merge:Read page 69-70 and fill in the graphic organizer below:

  13. Assignment: Types of Mergers • Draw a Venn Diagram comparing the two types of mergers. • Draw an illustration of each type on the back side of your Venn Diagram • Explain how conglomerates and multinationals differ from horizontal and vertical mergers. Due Friday

  14. Friday 1-24 Rally Schedule Bell Work:Define Demand and Marginal Utility Introduce concept of demand-show video clip Jingle all the Way Discuss Demand and Marginal Utility

  15. Week 4 Objectives • Students will be able to explain the difference between change in quantity demanded and an overall change in demand. • Students will be able to summarize the reasons for a change in overall demand. • Students will be able to explain the law of demand. • Students will be able to explain the difference between change in quantity supplied and supply. • Students will be able to summarize the reasons for an overall change in supply. • Students will be able to explain the law of supply. • Students will be able to illustrate supply and demand on a graph. • Students will be able to describe the term equilibrium price.

  16. Monday 1-27 • Bell Work- C. 4 Vocab Activity • Notes: Demand Demand Curve Activity-students are taken step by step on how to draw a demand curve using http://www.reffonomics.com/TRB/chapter4/quantitydemanded.swf Assign IES countries

  17. Tuesday 1-28 Bell Work: Vocabulary Activity Change in Qty Demanded vs. Change in Demand notes Quick write: What is the difference between change in demand and change in qty demanded? Activity: Reasons why demand changes-students predict the meaning of the seven determinants of demand then confirm or change their answers using the book.

  18. Wed. 1-29 Bell Work: Using your textbook, answer the following questions: Page 96 What is the income and substitution effect and how does it effect qty demand? Review Quiz- You may use the book and notes to help you review the last section.

  19. Wed. 1- Page 102 What does it mean when a product is demand elastic? How is does demand elastic differ from demand inelastic? Give examples of both.

  20. Week 5 Objectives Students will be able to identify Key economic principles Students will be able to explain the purpose and value of the Summit Program. Students will be able to identify basic Summit forms. Students will be able to explain the concept and importance of globalization. Students will be able to I.D examples of critical economic issues and consequences facing the world. Students will be able to apply economic concepts of specialization and cooperation by developing skills needed to identify and address global economic issues.

  21. Monday 2-2 • Continue film study and Choconomics • Complete discussion questions from film: Willy Wonka • FAFSA workshop

  22. Tuesday 2-3 • Complete film. • Discuss video questions. • Preview Econ Summit

  23. Block 2-4, 2-5 • Country Groups: preview activity- find assigned country national bird and anthem. Explain importance of country info and how to use it. • What is the Davos question: video examples • Group activity: Identify an economic issue and share out possible solutions. • Explain Geography component of Summit • Assign Country placard activity and country info sheet.

  24. Friday 2-7 • Group Activity: • Research country info. • Produce country info poster-handout instructions

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