Wednesday September 17, 2014 Mr. Goblirsch – Economics OBJECTIVE – Students Will Be Able To – SWBAT: - Analyze the concept of externalities of an economic decision and review for the Unit 1 test. AGENDA: 3rd, 5th, & 6th Periods WARM-UP: Government & the Highway System GUIDED PRACTICE: Annotating an Article on Externalities Review for TOMORROW’s Unit Test ***PERIOD 3, 5, & 6: Unit 1 Test – Chapters 1-3 & Ch 8 TOMORROW*** Government & the Highway System WARM-UP: (Follow the directions below) ***5 minutes*** Read P. 71 “Government and the Interstate Highway System” Why was it inefficient to leave highway construction to individual states? Why do you think it took Congress so long to authorize funds for highway construction?
STRUCTURED ACADEMIC DISCUSSION Prior Knowledge Recall the term externality What are some of the positive externalities of the Interstate Highway System we just read about? What are some of the negative externalities of the Interstate Highway System we just read about?
GUIDED PRACTICE Annotating WHAT YOU ARE LOOKING FOR: Economic concepts What’s the authors claim? Externalities the author discusses Do you agree or disagree with the authors claims? DIRECTIONS: As you read through the article, use the Close Reading handout to annotate the text.
UNIT 1 TEST – Chapters 1-3 & 8 CHAPTER 1 Scarcity Opportunity cost Incentives Entrepreneur Factors of Production Production Possibilities Curve CHAPTER 3 Competition Public goods Externality Free Rider Role of government Public safety & health Safety Net CHAPTER 2 Impact of Technology Specialization Free Market advantages Centrally Planned characteristics Factor & Product market 3 Economic Questions Why is the “customer always right”? CHAPTER 8 Sole proprietorship Partnership Corporation Franchise ESSAY QUESTION: Describe the economic system of the United States. - Free Market characteristics - Role of the entrepreneurs - Role the American Government plays
Wednesday September 17, 2014 Mr. Goblirsch – Economics OBJECTIVE – Students Will Be Able To – SWBAT: - Identify key foundational economic concepts. AGENDA: 4th Period ONLY No WARM-UP ASSESSMENT: Unit 1 Test IF YOU FINISH EARLY: Work on DOW Stock Simulation for Week 4 ***PERIOD 4: Unit 1 Test – Chapters 1-3 & Ch 8 TODAY*** No WARM-UP: (Follow the directions below) ***2 minutes*** Prepare to take Unit 1 Test Pass your Economics Notebook forward Take everything off of your desk except a pencil and a piece of binder paper