Supply of Equilibrium

We went through the Supply Worksheet Packet, which you turned in at the end of class for some much-needed points.  I also went through the Equilibrium slides.  You'll get that worksheet tomorrow.  Do not forget about the Demand-Supply-Equilibrium test on Wednesday serving as the Final.  On Thursday, you will have 10-15 minutes to write your Final Weekly WIL in class.  It is the ONLY WAY I AM ACCEPTING IT SINCE IT IS EXTRA CREDIT.

Govt Final Exam

You took your Government Final Exam in class today.  I also went through the gradebook cleaning  up everything I could find.  ALL Weekly WILs should be entered by the end of the school day.

Study!

I decided to give everyone a second day to prepare & study for tomorrow's Government "Final" exam.  Please do not waste your time.  Also, THERE IS NO WEEKLY WIL this week, not even for EC.  I plan to have a final WIL due next Thursday covering everything you may have learned during Q3.  There is also going to be an EC movie review opportunity.  Choose one of the following: The Box - (2009). or Lifeboat (1944).  Apply Economic Reasoning as you review the film.

Government Study Prep

You have an exam on Friday covering government.  I gave you a study guide in class and you had time to fill it out.  It was NOT a day to waste.  We'll continue studying Supply tomorrow.

Freakonomics (Part 1)

I showed you 45 minutes of Freakonomics, a movie based on an extremely popular book - we'll finish the film next Monday.  We'll move forward with Supply tomorrow, followed by Equilibrium.  On Friday, you have your Government Final.  Next Friday's exam (Q3 Final) will cover Demand, Supply, and Equilibrium.

Economic Growth & Decline

We went over the last page of the Econ 1.3 Demand Packet.  I hope you understand how Demand Shifts (Increase to the Right, Decrease to the Left).  I also reviewed the Circular Flow and how important it is to spend in order to help the economy grow.  We ended class by watching South Park Season 13 Episode 3: Margaritaville.  You will have a test on Friday covering what we have studied thus far.

I fell behind, so you get a week to catch up as well.  This week's Weekly WIL counts as EXTRA CREDIT!

I Demand To Know Demand

We simply went through the Demand Packet of worksheets.  I hope, and presume, that you know about the concept and Law of Demand.  If not...ASK QUESTIONS!!!  There will be an Econ Quiz (Intro, Free Enterprise, and Demand) on Friday, March 16th.

Want/Need + Ability = Demand

We went through the Econ 1.3 Demand Slides today.  I asked you to actually take notes this time, so it may have seemed a bit tedious at times.  But I am trying to have you learn the skills of being a successful student.  After the slides, we went through some of the worksheets in the Econ 1.3 Demand Worksheet Packet.  If you do NOT understand something...ASK!  It is VERY IMPORTANT TO KNOW EVERYTHING!

RomoThink Review

We took the day to discuss previous RomoThinks. 

• 1/24/12 (Sample) Under Oath
• 1/27/12 Effort
• 2/03/12 Incompetence Petition
• 2/10/12 Fame or Fortune
• 2/17/20 Convict & Medical Research
• 2/24/12 Super Loss
• 3/1/12 Mo' Money
• 3/9/12 Public Position

We'll get back to Econ tomorrow, focusing on the Law of Demand.

Free Enterprise

No, Captain Kirk and his crew have not been captured.  Although, with so many lens flares, it might be difficult to see who is actually on board.  Regardless, back to economics.  We went through some slides today covering the basics of the Free Enterprise system.  As always, they are available for download via my teacher page. I also showed you 10 minutes of video segments explaining the Circular Flow. I'll try to upload them as well.

Circular Flow

You worked in groups to complete the Circular Flow of Economic Activity via Google Docs.  As you worked on it and asked me to verify your work, I highlighted correct placement in green (after 1-2 initial attempts).  You then completed the Worksheet ripped from the Econ 1 Packet.  We'll learn about Economic Systems in class tomorrow.  RomoThink question to be included within your Weekly WIL is below:

3/9/12 Public Position
A TV news crew stops you on the street and asks your position on premarital sex, drug use, and abortion.  Do you agree to voice your opinion on the air...to be seen and heard by all of your friends and family (including grandparents, religious leader, and potential employers)?

The Lorax

NO, not the new, feature-length movie.  We watched the original, 25-minute cartoon from 1972.  And we applied economics to it.  Even with the cheesy, yet catchy, tunes.  You started the day by drawing your own copy of the Circular Flow into your notebooks, followed by listing resources and economic concepts depicted in the cartoon.  I've always enjoyed this lesson, and I hope you do (did) too.

Stossel Ideology

Is Stossel crazy?  How would you describe him to others?  we discuss(ed) Stossel today.  You take notes, write a summary, and turn in both Stossel handouts plus today's notes for some nice classroom credit.  You also answered the following question:
     You are a business owner intent on making a profit not only for yourself but for your shareholders.  You are at risk of losing your position if profits are not increased.  In order to cut costs, do you:    
               a)  cut corners in terms of safety for people you do not know, or  
               b)  make your friends work harder for less pay?Explain your reasoning.

Super Stossel!

He's Back!  Meanwhile, I'm gone.  You have another worksheet to follow, but focus on the video.  We'll discuss & answer the questions when I am back on Tuesday.

Econ Test 1

We had a test in Econ today.  25 questions.  Some people still ask about a Weekly WIL.  There is ALWAYS a Weekly WIL!  I have decided to accept this week's WILs through Tuesday.  Your weekly question is as follows:

3/1/12 Mo' Money

You have a (legal) opportunity to make more money than your fellow workers, but it involves a degree of deception (lying - hiding the truth).  Do you do it?  Explain your reasoning.