Economics

January 11, 2013


01/11/13-Econ-



YouTube Videos-Thanks Chris Weems and Jarrod Bell!



Download Productivityslides



EQ: #3 in Table of Contents



What is a rational decision, cost-benefit analysis, specialization, productivity, and division of labor?



Appetizer:



What do you consider to be a rational decision?



Main Course



Draw production possibilities curve and label-we will do this together after you define words

Go to page 15 an define efficiency, underutilization

Green EOCT book-pages 34-35, define rational decisions, cost-benefit analysis, marginal cost, marginal benefit, specialize, voluntary exchange, productivity, and division of labor

page 36-#1-2 in green EOCT books in small groups

TOD-name one rational decision and one irrational decision you have made



January 11, 2013 in Economics
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January 10, 2013

01/10/13-Econ-Thursday



Download Production Possibilities Curve



YouTube on scarcity-Thanks, NiKole! :)



http://www.youtube.com/watch?v=yoVc_S_gd_0



EQ: (#2 in Table of Contents)



What is a production possibilities curve (frontier)? Why do economists use the term “guns or butter”?







Appetizer:



Discuss what we learned yesterday with your elbow neighbor (person next to you in rows): scarcity, trade-offs, opportunity cost, and factors of production



Main Course:



Did you find anything interesting on YouTube regarding scarcity, trade-offs, opportunity costs, and factors of production?

Add this in your notebook with factors of production!



Human Capital-skills and knowledge of a company’s workers



Finish your foldables on factors of production (FOP)

In your notebooks, make a list of things that you would consider to be military goods and then make a list of civilian goods

Power Point on Production Possibilities Curve-just be good listeners!

Class practice with PPC and factors of production

YouTube: Production Possbilities Curve or "Guns and butter"0.



January 10, 2013 in Economics
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Wednesday, 01/09/13-Economics



Each day we will be learning a GPS (GA Performance Standard) for economics. It is really important that you pay attention, since we will have our EOCT the first week in March (9 weeks away!)







I



SSEF1



The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity costs and trade- offs for individuals, businesses and governments.



SSEF1.a



Define scarcity as a basic condition which exists when limited productive resources exceed unlimited wants.



Element: SSEF1.b



Define and give examples of productive resources as land (natural), labor (human), capital (capital goods), entrepreneurship.



Element: SSEF1.c



List a variety of strategies for allocating scarce resources.



Element: SSEF1.d



Define opportunity cost as the next best alternative given up when individuals, businesses and governments confront scarcity by making choices.



Download Scarcity and Opp Cost



EQ: What does scarcity mean? What is the difference between a trade-off and an opportunity cost?



Appetizer:



What is scarce in your life? Make a list on a sheet of paper in your notebooks. Discuss together.



Main Course:



Handout GPS for econ

Syllabus

Assignment sheet-#1-scarcity, trade-offs, and opportunity costs

Notes on scarcity, trade-offs, opportunity costs, and factors of production (time permitting)

TOD-look at your standard for today and rewrite it using the language of the standard and what you learned today!

Homework! Look up scarcity, trade-offs, and opportunity costs, or factors of production on YouTube and watch. Be ready to share with the class!



January 10, 2013 in Economics
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January 08, 2013

Economics-01-08-13



HAPPY NEW YEAR!



How was your winter break?!



Each day we will be learning a GPS (GA Performance Standard) for economics. It is really important that you pay attention, since we will have our EOCT the first week in March (9 weeks away!)



Here are a few things about me!







If you really knew me, you would know that: (write about yourselves!)



SSEF1



The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity costs and trade- offs for individuals, businesses and governments.



SSEF1.a



Define scarcity as a basic condition which exists when limited productive resources exceed unlimited wants.



Element: SSEF1.b



Define and give examples of productive resources as land (natural), labor (human), capital (capital goods), entrepreneurship.



Element: SSEF1.c



List a variety of strategies for allocating scarce resources.



Element: SSEF1.d



Define opportunity cost as the next best alternative given up when individuals, businesses and governments confront scarcity by making choices.







EQ: What is economics?



Jot down on a piece of paper what you think economics means.



Fill out the information paper with your parent’s address, e-mail, and working telephone #!



On the back of the information paper write down 2 truths and 1 lie about yourself.



Also on the back of your information paper write down what you would do if you had $1,000,000! Think about what you write!



January 08, 2013 in Economics
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