Shadle Park Economics

Entry task

Look up the production possibilities frontier/curve in your book. Draw your own unique version of a possibilities frontier/curve and illustrate opportunity costs. (It should be shown in two places on the graph.) Write a couple sentences explaining how a possibilities frontier/curve works and how it visually demonstrates opportunity cost.

Finish/Review Economic Economic Systems Graphic Organizer

Essential Elements of Capitalism/What Makes Capitalism Work?

1. Brainstorm the essential fundamental elements of capitalism with a partner or group of no more than 3. (Do not use the book.)

2. Narrow your list of elements down to what you think are the four most important elements.

3. For each of your four choices, explain why it’s crucial.

4. Define capitalism in your own words, not using the book or dictionary.

Private Property as a motivator.

Entry task

Look up the production possibilities frontier/curve in your book. Draw your own unique version of a possibilities frontier/curve and illustrate opportunity costs. (It should be shown in two places on the graph.) Write a couple sentences explaining how a possibilities frontier/curve works and how it visually demonstrates opportunity cost.

Finish/Review Economic Economic Systems Graphic Organizer

Essential Elements of Capitalism/What Makes Capitalism Work?

1. Brainstorm the essential fundamental elements of capitalism with a partner or group of no more than 3. (Do not use the book.)

2. Narrow your list of elements down to what you think are the five most important elements.

3. For each of your five choices, explain why it’s crucial.

4. Define capitalism in your own words, not using the book or dictionary.

Furniture Factory economic resources example: human resources, natural resources, capital resources, entrepreneurship

fundamental-economic-problem-graphic-organizer

economicsystemsgrid

FEDERAL RESERVE

policy-matrix

graphic organizer fiscal versus monetary policy

RECESSION AND YOU
Discussion

• Jobs
• Loans and Borrowing
• Consumer Culture

Videos
Original National Debt Clock
Upward Mobility May No Longer Be Guaranteed

Book assignment

Spending, deficits, and debt

Use your book to find the following:

1. Examine the graphs on page 244 and tell me about one thing that surprised you.

2. According to the graphs on page 245, what two areas of spending increased the most from 1980 to 1998?

3. Answer the questions that go with the graphs on page 250.

4. Read the section on debt and deficit starting on page 253. What is the difference between debt and deficit?

5. According to your book, where did the deficits of the 1980s come from?

6. Examine the graphs on page 255. What does each graph represent?

7. Which graph is most useful/significant? Why?

8. Answer number 6 on page 260. Please be sure to provide the reasons for your choices.

Finish balancing and turn in Budget Packet and “Life Story”

Book assignment

Taxation book questions

1. (244-252) What are the top 4 areas of government spending at the federal level and then the top 2 at the state and local level?

2. (217 and 223) What are the top 3 sources of revenue for the government at the federal level and then the top 2 at the state and local level?

3. (210) What are the 3 reasons why to tax listed in your book?

4. (211) Describe the two principles used to describe who should be taxed.

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Recession or Depression?

1. What factors are commonly used to measure the health of the economy.

2. What is the opposite of a recession?

3. In modern terms, how many depressions have we had in the US?

4. What determines when a recession would become a depression?

Next page…

5. According to the article, should the public be worried by an occasional moderate recession?

6. What was the most significant recession preceding our current one? What was the cause?

7. What do you think/what have your heard was the cause was for our current recession?

Recession or Depression Article

Personal Budget Assignment

Wheel-of-Misfortune

Monday 12/8     Shifts

Tuesday 12/9-Wed 12/10   Wrap up and practice

Thursday and Friday Practice/Review

Monday 12/15 Supply and Demand Test

JA titan simulation

SEE WHAT’S COMING UP
ORDER OF PRESENTATIONS, NEXT ASSIGNMENTS ETC.

Wrap up supply and demand project

Turn in posters and folder next period, present after Thanksgiving!