Unit I: Introduction & Basics

Chapters 1, 2 & 3

Topics Covered:

Scarcity, Opportunity Cost, Factors of Production, Supply and Demand Laws, Curves and Determinants, Equilibrium Price and Quantity, Ceilings, Floors, Basic Circular Flow Models, Production Possibility Frontiers, Macro vs. Micro, Ceteris Paribus, “Full Employment”, Efficiency, Substitute Goods, Complementary Goods


8-12% of your AP Exam will be over Unit I.

Exam Dates:

1st & 2nd period: Thursday, January 21

3rd & 5th periods: Friday, January 22

Tuesday-Wednesday, January 5-6

1. Find new seats.

2. Triva

3. Remind codes/Email on phone

4. Where to find things

5. Syllabus

6. Go get textbooks

7. Ch. 1 PowerPoint and PPC Practice on whiteboards


Homework: Read Ch. 1-2. Reading quiz over Ch. 2 next class. Watch the following Crash Course video.

Intro to Economics: Crash Course Econ #1
Macroeconomics Unit 1 Intro: Basic Economic Concepts (AP Macro)
Production Possibilities Curve- Econ 1.1
Shifting the Production Possibilities Curve (PPC)- Econ 1.2
Production Possibilities- EconMovies #3: Monsters Inc
Scarcity and Exchange- EconMovies #1: Star Wars

Thursday/Friday, January 7-8

Agenda:

1. Catch up from Wednesday (1st, 3rd & 5th periods) - See agenda above

** Check Canvas. Does it work?

2. Chapter 2 Reading Quiz

3. Review PPC - Practice problems as a class.

4. Review the factors of production. What are some examples?

5. Ch. 2 Discussion Questions. Answer with a partner.

6. Ch. 2 PowerPoint

7. Widget Market Class Activity


Homework:

*** Can use handwritten notes on reading quizzes from Ch. 3 on. Must staple them to your quiz when you turn it in. You will be given them back the next time the class meets. ***


Read Ch. 3 for a reading quiz on Tuesday. You may use handwritten notes!

Circular Flow Matrix- Inside how the economy works- Econ 1.7
Econ 1.6- Economic Systems: Why is Communist China doing so well?
EconMovies #10: The Hunger Games and Capitalism

Monday, January 11

1. Practice PPC Problem - Class Practice

2. Circular Flow Model Simulation - Class Activity


Homework:

- Read Ch. 3.

- Ch. 3 Reading Quiz (+ a few questions over PPC) next class

Tuesday/Wednesday, January 12/13

1. Chapter 3 Reading Quiz

2. Go over Ch. 2 Quiz

3. Supply & Demand Lesson

Demand and Supply Explained- Econ 2.1
Demand and Supply Explained (2 of 2) - Econ 2.2

Why Price (the INDEPENDENT variable) always goes on the Y-axis in economics:

Big image
Economics: Supply and Demand

Thursday/Friday, January 15-16

Finish Supply & Demand Lesson and begin practice problems


Homework:

Supply & Demand Quick Quiz - Due next class!

Tuesday/Wednesday, January 19-20

1. Check homework. Did you complete it?

2. Finish practice problems from last week.

3. Check Ch. 3 reading quiz.

4. Check the homework as a class.

5. Take & check the checkpoint quiz.

6. Unit I Review Slides

7. Post PPC Video on Canvas - Assignmnet