Class 1
1. Describe and analyze the "economic way of
thinking"
2. Identify the conditions that give rise to the economic problem of scarcity
3. Identify and explain the 4 categories of resources available to any country/society in differing quantities and quality.
Introduction to class/syllabus
2. Identify the conditions that give rise to the economic problem of scarcity
3. Identify and explain the 4 categories of resources available to any country/society in differing quantities and quality.
Introduction to class/syllabus
Lecture Notes for Chapter 2
Powerpoint for Introduction to Economics (view to "Define Tragedy of the Commons)
HomeworkPowerpoint for Introduction to Economics (view to "Define Tragedy of the Commons)
Read Frederic Bastiat's "Seen and Unseen" and "The Broken Window
Take Online Quiz for Bastiat readings
Read More on Frederic Bastiat HERE
View video on "The Broken Window Fallacy"
Online Tutorials for this
Section
What is Economics? Opportunity Costs (here is a short video on Opportunity Costs)
Class 2 (Chapter 2)
1. Define
2. Identify the Opportunity Costs involved in various courses of action
Discuss Bastiat selections
Powerpoint Introduction to Economics (continued--view
starting at "Tragedy of the Commons to the end of PPT)
Popcorn Economics Lesson (optional)
Interactive Activity
Read "Characteristics of Capitalism"
Take Online Quiz for "Characteristics of Capitalism"
View video HERE on importance of Private Property
View video HERE on "Tragedy of the Commons"
Online Tutorials
Economic
Systems (here is a video on Economic Systems)
Class 3 (Chapter
2)
1. Identify the three economic questions every economic system must answer
2. Describe and analyze the economic goals of different economic systems
3. Analyze the advantages and disadvantages of different economic systems
Powerpoint Introduction to Economics (continued--view starting at "Tragedy of the Commons to the end of PPT)
1. Identify the three economic questions every economic system must answer
2. Describe and analyze the economic goals of different economic systems
3. Analyze the advantages and disadvantages of different economic systems
Powerpoint Introduction to Economics (continued--view starting at "Tragedy of the Commons to the end of PPT)
Lecture/Discuss Economic Systems
View video HERE on economic systems
Online Quiz---DUE SEPT 9th, 2013
Basics of Economics/Opportunity Costs
Online Tutorials
Economic Systems
Class 4 and 5
1. Construct a Production Possibilities curve from sets of hypothetical data
2. Apply the concept of Opportunity Cost to a Production Possibilities Curve
3. Analyze the significance of different locations on, above or below a Production Possibilities Curve
Powerpoint for Production Possibilities Frontier
View these TWO Videos (HT: Jason Welker)
View video HERE on economic systems
Online Quiz---DUE SEPT 9th, 2013
Basics of Economics/Opportunity Costs
Online Tutorials
Economic Systems
Class 4 and 5
1. Construct a Production Possibilities curve from sets of hypothetical data
2. Apply the concept of Opportunity Cost to a Production Possibilities Curve
3. Analyze the significance of different locations on, above or below a Production Possibilities Curve
Powerpoint for Production Possibilities Frontier
View these TWO Videos (HT: Jason Welker)
PPF Worksheets (optional)
Due THURSDAY, Sept 12---
Take Online Quiz for Producition Possibliities Frontier#1
Take Online Quiz for Production Possibilities Frontier #2
Worksheets
Morton Problems for PPC (Page 1 to Page 7)\
Online
Tutorial
Interactive
Activity
1. Supplemental Tutorial for PPC HERE
2. Opportunity Cost Video (optional)
2. Describe and give examples of the Law of Comparative Advantage
3. Define Specialization and Exchange
4. Explain how both parties to a trade gain from voluntary exchange
5. Explain Comparative Advantage in terms ofOpportunity Cost
6. When given necessary data, compute the costs of producing two commodities in two countries, determine which nation has the Comparative Advantage in the production of each commodity, calculate the trading ratio, and explain the gains to each nation and the world from Specialization and Trade
Powerpoint for Absolute and Comparative Advantage
View Video below on Absolute and Comparative Advantage
View this video for FRQ instruction. Excellent!!!
Homework
Online Tutorials
Interactive Activities
2. Opportunity Cost Video (optional)
3. Production Possibilites Video
1 (excellent supplemental)
Class 6 and 7
1. Define Comparative and Absolute Advantage2. Describe and give examples of the Law of Comparative Advantage
3. Define Specialization and Exchange
4. Explain how both parties to a trade gain from voluntary exchange
5. Explain Comparative Advantage in terms of
6. When given necessary data, compute the costs of producing two commodities in two countries, determine which nation has the Comparative Advantage in the production of each commodity, calculate the trading ratio, and explain the gains to each nation and the world from Specialization and Trade
Powerpoint for Absolute and Comparative Advantage
View Video below on Absolute and Comparative Advantage
View this video for FRQ instruction. Excellent!!!
Homework
Online Tutorials
Interactive Activities
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