Article link for after the unit test on April 5: Universal basic income (click here)
When finished, log in to JupiterEd > click on "Messages" > respond to the idea of universal basic income on the Forum created for that purpose.
16. APRIL 5, 2017: Unit 3 Test
We took the two-part Unit 3 Microeconomics Test. If you were absent, schedule a makeup test as soon as possible.
Study the two Quizlet sets, the practice test on JupiterEd, and review notes you made about how to graph supply and demand, plus change in supply and change in demand (reviewing the PIRATES and CRUISES acronym notes would also be helpful).
Study the two Quizlet sets, the practice test on JupiterEd, and review notes you made about how to graph supply and demand, plus change in supply and change in demand (reviewing the PIRATES and CRUISES acronym notes would also be helpful).
15. APRIL 3, 2017: Review for the Unit 3 Test
We reviewed material from many parts of the unit.
We spent time on "Practice Test 17," which is available on JupiterEd (click "Tests & Lessons" to get there). We pointed out the TWO Quizlet study sets that are available (vocabulary and concepts; images).
We reviewed with index cards during Quiz, Quiz, Trade and became a graph with "The Living Curve."
We spent time on "Practice Test 17," which is available on JupiterEd (click "Tests & Lessons" to get there). We pointed out the TWO Quizlet study sets that are available (vocabulary and concepts; images).
We reviewed with index cards during Quiz, Quiz, Trade and became a graph with "The Living Curve."
14. MARCH 23, 2017: Current Events playoffs, Game 1 (plus Investors Challenge)
Finished discussing Oregon's minimum wage law and turned in the "pros and cons" sheet from last class period.
Teams updated Investors Challenge and reported current totals on JupiterEd (via "Messages" tab).
The bottom four seeds of the six Current Events teams played the first round of the playoffs. The top four finalists will play in April.
Teams updated Investors Challenge and reported current totals on JupiterEd (via "Messages" tab).
The bottom four seeds of the six Current Events teams played the first round of the playoffs. The top four finalists will play in April.
13. MARCH 21, 2017: Exploring the pros and cons of minimum wage (an example of a price floor)
Pros and cons of minimum wage: In addition to finishing the notes on government interventions (see the PDF file listed below for March 17 class), we watched a video (see link below) and read two articles related to the minimum wage debate, which is a perennial issue highlighting the challenge of balancing market freedom and social goals.
MSNBC VIDEO CLIP LINK (the video is about 10 minutes long): Pros and Cons of Raising the Minimum Wage
CHICAGO TRIBUNE ARTICLE LINK: "In minimum wage debate, both sides make good points"
SALEM STATESMAN-JOURNAL ARTICLE LINK: "Oregon raises minimum wage by 50 cents"
After viewing the video and reading the articles, students wrote an overall opinion regarding Oregon's new minimum wage law, which will be discussed at the start of class next time (when the Current Events playoffs begin!)
CHICAGO TRIBUNE ARTICLE LINK: "In minimum wage debate, both sides make good points"
SALEM STATESMAN-JOURNAL ARTICLE LINK: "Oregon raises minimum wage by 50 cents"
After viewing the video and reading the articles, students wrote an overall opinion regarding Oregon's new minimum wage law, which will be discussed at the start of class next time (when the Current Events playoffs begin!)
pros___cons_of_minimum_wage_sheet.pdf | |
File Size: | 42 kb |
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12. MARCH 17, 2017: Market failure and government interventions
WriteBoard practice and review.
Types of market failures (we completed notes on this and worked in groups to identify additional examples of negative externalities):
types_of_market_failure.pdf | |
File Size: | 116 kb |
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Notes: Government Interventions (we started this, but need to finish it next Tuesday):
government_interventions.pdf | |
File Size: | 543 kb |
File Type: |
11. MARCH 15, 2017: Graphing Change in Demand and Change in Supply
Quick Quiz: Supply AND Demand; Change in Demand and Change in Supply: We took this quiz. If you missed it, log in to Jupiter, click "Tests & Lessons," and you're off tp the races.
Review activities & games: We did 5 WriteBoard problems and played 2-3 games of Quizlet Live.
We turned in the last two homework assignments (Problem Set 2.1 + Problem Set 2.2 and 2.3), and reviewed them. If you were absent when we competed them, you can find them during the class period notes for earlier days.
Shifting Supply and Demand: We worked on this assignment in class (finished it 5th and 7th; made it part way through in 6th, and are finishing as homework for Friday). PDF is available below.
Review activities & games: We did 5 WriteBoard problems and played 2-3 games of Quizlet Live.
We turned in the last two homework assignments (Problem Set 2.1 + Problem Set 2.2 and 2.3), and reviewed them. If you were absent when we competed them, you can find them during the class period notes for earlier days.
Shifting Supply and Demand: We worked on this assignment in class (finished it 5th and 7th; made it part way through in 6th, and are finishing as homework for Friday). PDF is available below.
problem_set_2.4_shifting_supply_and_demand.pdf | |
File Size: | 541 kb |
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TWO QUIZLET STUDY SETS NOW AVAILABLE: Start studying for next Tuesday's test
Set 1: "Microeconomics: Vocabulary and Concepts"
Set 2: "Microeconomics: Images"
Practice both of these sets to help prepare yourself for the multiple choice / matching part of the test, but it will also help prepare you for the written demonstration portion of the test as well.
To access the sets. log in to Quizlet and they should be assigned to you for study.
Set 2: "Microeconomics: Images"
Practice both of these sets to help prepare yourself for the multiple choice / matching part of the test, but it will also help prepare you for the written demonstration portion of the test as well.
To access the sets. log in to Quizlet and they should be assigned to you for study.
10. MARCH 13, 2017: Change in Demand and Change in Supply; non-price factors that can cause a Change in Demand or Supply
Debriefed Wheat Market Simulation (6th and 7th period only): One of the things the market is good at is efficiently allocating resources and labor by matching supply and demand fairly quickly.
Checked in homework (5th) / Turned in homework (7th) / Forgot to check in homework (6th - due next class period)
Took notes on Change in Quantity Demanded vs. Change in Demand: Then we created a demand schedule and curve showing Change in Demand. See slides below:
Checked in homework (5th) / Turned in homework (7th) / Forgot to check in homework (6th - due next class period)
Took notes on Change in Quantity Demanded vs. Change in Demand: Then we created a demand schedule and curve showing Change in Demand. See slides below:
change_in_quantity_demanded_vs_change_in_demand.pdf | |
File Size: | 2791 kb |
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PIRATES and CRUISES: Acronyms for remembering the non-price factors that can cause a Change in Demand (PIRATES) and non-price factors that can cause a Change in Supply (CRUISES).
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HOMEWORK ALERT: We started the practice sheet below in class and planned to finish it outside of class, as homework (due start of next class - Wed. 3/15):
problem_set_2.2_shifting_demand_curves_and_supply_curves.pdf | |
File Size: | 1194 kb |
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If you were absent (or you have additional questions), some of the core topics are covered in these Khan Academy videos (watch them and actively take notes; then check in with me about any part that confuses you):
CHANGE IN DEMAND:
The P, I and T in PIRATES: Changes in Income, Population and Preferences (Tastes) affecting a Change in Demand
The R in PIRATES: Related goods as factors affecting a Change in Demand
The E in PIRATES: Change in Expectations affecting a Change in Demand
Clarification regarding Income Effect (the I in PIRATES): Normal and Inferior Goods
CHANGE IN SUPPLY:
Factors Affecting Supply
CHANGE IN DEMAND:
The P, I and T in PIRATES: Changes in Income, Population and Preferences (Tastes) affecting a Change in Demand
The R in PIRATES: Related goods as factors affecting a Change in Demand
The E in PIRATES: Change in Expectations affecting a Change in Demand
Clarification regarding Income Effect (the I in PIRATES): Normal and Inferior Goods
CHANGE IN SUPPLY:
Factors Affecting Supply
9. MARCH 9, 2017: Supply AND demand; equilibrium, surplus and shortage; simulating a wheat trading market
Quick Quiz: Law of Demand and Law of Supply (you can make it up on JupiterEd > Tests & Lessons > "Quick Quiz: Law of Demand and Law of Supply")
Supply AND Demand Curves; Market Equilibrium, Market Surplus, and Market Shortage: We took notes on equilibrium, surplus and shortage, and labeled those features on the combined supply and demand curve created either March 7 (5th and 7th periods) or in class today (6th). The notes are below:
Supply AND Demand Curves; Market Equilibrium, Market Surplus, and Market Shortage: We took notes on equilibrium, surplus and shortage, and labeled those features on the combined supply and demand curve created either March 7 (5th and 7th periods) or in class today (6th). The notes are below:
bringing_the_curves_together_2017_supply_and_demand_suprlus_and_shortage.pdf | |
File Size: | 366 kb |
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IF YOU WERE ABSENT, watch this Khan Academy video (and be sure to take notes on all that Sal Khan is saying); come see me with any questions you have.
Wheat market simulation: We split into buyers and sellers and traded wheat using buy and sell cards that gave us a price target to beat in our trades. The goal was for traders to maximize their profits. In 5th, we already broke down the data collected during the simulation. In 6th and 7th, we'll have to do that next time.
HOMEWORK ALERT (due start of class on Monday, 3/13): Complete the practice sheet below, which requires use of many of the concepts learned in class today. Circle any items you would like to review or discuss next period.
problem_set_2.1_graphing_supply_and_demand.pdf | |
File Size: | 291 kb |
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8. MARCH 7, 2017: What is a market; Law of Supply
Reviewed demand schedule and demand curve
What is a market?
3.5a_what_is_a_market_.pdf | |
File Size: | 713 kb |
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Law of Supply, Supply Schedule, and Supply Curve: We watched this video and determined the minimum pay per hour students in the class would accept in order to do that job for 40 hours per week (full time). Then we took notes from the slides below and created our own example of a supply schedule and a supply curve (using numbers you create that obey the law of supply).
3.6_law_of_supply.pdf | |
File Size: | 525 kb |
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Comparing demand curves and supply curves
3.7_comparing_and_contrasting_demand_and_supply_curves.pdf | |
File Size: | 56 kb |
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5TH AND 7TH: Bringing the curves together (supply AND demand): We created the supply and demand schedule in 5th, and did that AND the combo curves in 7th. In 6th, we did not get this far.
bringing_the_curves_together_supply_and_demand.pdf | |
File Size: | 195 kb |
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IF YOU WERE ABSENT: Check out this Khan Academy video on the law of supply.
7. MARCH 3, 2017: Types of Economies Spectrum; Law of Demand
Types of economies: Took notes on fourth (and most common) type: mixed economies. See March 1 entry (below) for types of economies notes and notes sheet. We took notes on the spectrum of types of modern economies and walked up to explain where we thought the USA fits on that spectrum (generally considered a mixed economy, but much closer to a market economy than a command, of course), but made the case for market economy (though very close to mixed) interpretation too. See the slide below for details.
spectrum_of_economic_systems.pdf | |
File Size: | 346 kb |
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Law of Demand: We took notes from these slides.
demand_and_the_law_of_demand.pdf | |
File Size: | 58 kb |
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Demand schedule and demand curve: We wrote down definitions and drew examples of each. Then, as homework, students are assigned to create a totally new demand schedule and demand curve for a totally different (and hypothetical) product, which we'll check next week.
IF YOU WERE ABSENT (or have more questions): Watch this Khan Academy video, which explains the law of demand, and draws a demand schedule and a demand curve.
IF YOU WERE ABSENT (or have more questions): Watch this Khan Academy video, which explains the law of demand, and draws a demand schedule and a demand curve.
6. MARCH 1, 2017: Factors of Production and Types of Economies
Quick Quiz: If you were gone, log in to JupiterEd > click "Tests & Lessons" > click the quiz titled "Quick Quiz: Big Ideas of Economics (2017)" > complete the quiz (you get credit for doing it; correct answers should be revealed when you are finished).
Wrap up of "Economic Man" discussion: We watched a short video describing the Ultimatum Game and Dictator Game results, and discussed what this might mean for the validity of assumptions behind some classical Economics models. We also watched a few very short clips of economists or writers on Economics discussing whether, and in what ways, Economics is more of a science, an art, neither, or both. Groups discussed the videos.
Factors of Production: If you were gone, watch the video here and take notes on land, labor, capital, and entrepreneurship inputs to production of goods and services. In class, groups were assigned actual companies and tasked with identifying multiple examples of each factor for that business. We selected some groups to briefly present their findings.
Types of Economies: We took notes on the comparison chart (file is below, left) from the slides (below, right). We made it through command economy. We will finish mixed economy next class period.
Wrap up of "Economic Man" discussion: We watched a short video describing the Ultimatum Game and Dictator Game results, and discussed what this might mean for the validity of assumptions behind some classical Economics models. We also watched a few very short clips of economists or writers on Economics discussing whether, and in what ways, Economics is more of a science, an art, neither, or both. Groups discussed the videos.
Factors of Production: If you were gone, watch the video here and take notes on land, labor, capital, and entrepreneurship inputs to production of goods and services. In class, groups were assigned actual companies and tasked with identifying multiple examples of each factor for that business. We selected some groups to briefly present their findings.
Types of Economies: We took notes on the comparison chart (file is below, left) from the slides (below, right). We made it through command economy. We will finish mixed economy next class period.
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5. FEBRUARY 27, 2017: Utility, Economic Man, and the Ultimatum Game
We learned about the 4th Big idea of Economics (utility) and the definitions of differing levels of utility (including marginal utility and diminishing marginal utility). Working in pairs, we generated examples of each.
big_idea_4_utility.pdf | |
File Size: | 128 kb |
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We discussed the concept of the "Economic Human" that tends to dominate classical economics theories. To begin to evaluate the assumptions of the "Economic Human," we played the Ultimatum Game in class (as a proposer, predictor or decider). Using the results of that game, and the article from Money magazine below, the homework will ask you to evaluate the assumptions of the "Economic Human," based on these results. How might the results of these studies call those assumptions into question?
HOMEWORK (due before class, Wed. March 1): You'll need this article link for part of the lesson (or for homework, if we do not finish during class: Money Magazine article on brain imaging and money
After reading the linked article, log in to JupiterEd > "Grades" tab > Click on the assignment titled "Ultimatum Game and fMRI Article Response" > Click "New Juno Doc" > respond to the question posted there > Click "Turn In Now."
HOMEWORK (due before class, Wed. March 1): You'll need this article link for part of the lesson (or for homework, if we do not finish during class: Money Magazine article on brain imaging and money
After reading the linked article, log in to JupiterEd > "Grades" tab > Click on the assignment titled "Ultimatum Game and fMRI Article Response" > Click "New Juno Doc" > respond to the question posted there > Click "Turn In Now."
4. FEBRUARY 23, 2017: Letter; Big Ideas of Economics (Part 1)
Students wrote me a brief letter (in JupiterEd) with a Semester 2 update (what happened during 1st semester, both inside and outside of class, and how things are going now). If you were absent, you can make up the letter with the following steps: Log in to JupiterEd > Click "Grades" > Click on the title of the assignment that says "Letter to Mr. Hausman (Semester 2 Update)" > Click "New Juno Doc" when that option pops up > Write the letter > Click "Turn In Now."
We began an introduction to Economics by looking at the first 3 "big ideas" (scarcity; choices; opportunity costs). Groups worked to brainstorm benefits and direct costs of four different post-high school options, then (in every period except 6th, when we ran out of time), we wrote about individual plans for after high school and identified the opportunity cost of the option we are choosing. We'll review this next class, and learn about the remaining big idea.
We began an introduction to Economics by looking at the first 3 "big ideas" (scarcity; choices; opportunity costs). Groups worked to brainstorm benefits and direct costs of four different post-high school options, then (in every period except 6th, when we ran out of time), we wrote about individual plans for after high school and identified the opportunity cost of the option we are choosing. We'll review this next class, and learn about the remaining big idea.
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3. FEBRUARY 21, 2017: Reading Assessment (first major performance score of the semester)
We completed the Common Core Reading Standard 1 Assessment in class today. If you were absent, I will provide time in class on Thursday (2/23) to make up the test. If you are still absent, or not done with the assessment, you will need to arrange a time before or after school to finish it (which is important, since the reading assessment is in the Performance category - which is 80% of the grade - and generates a 4-3-2-1 score. Retakes will be available beginning Wednesday, March 8, after school, from 3:05 to 4:05 pm in room 213. See me if you have any questions.
2. FEBRUARY 16, 2017: Getting ready for the reading assessment
We reviewed student sentences, written the previous class period, about credit scores and good debt/bad debt distinctions, and followed up with some more facts about different types of loans (and different types of student loans).
We used the 3-2-1 strategy (see PDF sheet below) to summarize a practice article about college debt (see PDF of article below). Groups discussed the points identified in the 3-2-1 areas, and some classes had time to then write an introduction as a practice for the reading assessment we'll do next class period.
We used the 3-2-1 strategy (see PDF sheet below) to summarize a practice article about college debt (see PDF of article below). Groups discussed the points identified in the 3-2-1 areas, and some classes had time to then write an introduction as a practice for the reading assessment we'll do next class period.
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1. FEBRUARY 14, 2017: Welcome to the Economics emphasis semester of Government & Economics class!
We got new seats, welcomed new students, and reviewed expectations.
We also previewed Semester 2 and introduced a topic (credit ratings, and the concept of "good debt" and "bad debt") that relates to the Reading Assessment that is coming up on Feb. 21.
HOMEWORK: If you are new to class, return the Syllabus Signature & Contact Info Form, the JupiterEd Notification signature sheet, and the iPad Responsible Use Policy form next class (Thursday, 2/16).
We also previewed Semester 2 and introduced a topic (credit ratings, and the concept of "good debt" and "bad debt") that relates to the Reading Assessment that is coming up on Feb. 21.
HOMEWORK: If you are new to class, return the Syllabus Signature & Contact Info Form, the JupiterEd Notification signature sheet, and the iPad Responsible Use Policy form next class (Thursday, 2/16).
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