AP Macroeconomics September 2, 2014 Objective: Unit 1 Topic E: The United States in the Global Economy Warm up—What is comparative advantage? Overview of comparative advantage, absolute advantage, specialization, and exchange. Reading : Chapter 5, pages 85-99 Graphs: U.S trade and GDP (p86), Market for yen (p93) Unit I Exam Wednesday

Economics—period 4 September 2, 2014 Objective: Basic economic concepts ESLR: Critical thinkers Warm up—What is an externality? Externality discussed and examples Public goods and Market failure: Reading (p64), questions (p66 1-7) Economics USA: Public goods and responsibilities (video, questions, discussion) review

Economics—period 5 September 2, 2014 Objective: Basic economic concepts ESLR: Critical thinkers Warm up—What is an externality? Externality discussed Economics USA: Public goods and responsibilities (video, questions, discussion) review Public goods and Market failure: Reading (p64), questions (p66 1-7)

US History September 2, 2014 Objective: Reconstruction Warm up—What was Reconstruction? Collect brochures Reconstruction (reading, video, notes) Page 189 (2-3)

AP Macroeconomics September 3, 2014 Objective: Unit 1 Exam Warm up—What is absolute advantage? Unit I Exam Unit 2 Topic A (discussion, notes) HW Reading: Unit 2 Topic A

Unit 1 packet Warm ups from 8/13-today Homework from chapters 1,2, 3 USA Today worksheets (2) Supply and demand worksheet Graphs Any notes you want to turn in

Economics—period 4 and 5 September 3, 2014 Objective: Public goods ESLR: Critical thinkers Warm up—What was the TVA? (see Economics USA worksheet) Who should get public assistance? (the poor, disabled, children, elderly, unemployed) Explain. Providing a safety net (reading p 67-70) Questions p70 (1-4, 6) Page 66 1-3 Quiz Friday

US History September 3, 2014 Objective: Reconstruction Warm up—What was the Ku Klux Klan? What were their 4 goals mentioned in the book? Review Page 189 (2-3) Summary of The Union in Peril (reading) Mathew Brady (photographing the Civil War) Who is Mathew Brady? Find a famous photo of his of the Civil War. Write about it. Describe the photo and the conditions it portrays. Two paragraphs

AP Macroeconomics September 4, 2014 Objective: Unit 1 Exam Warm up—Explain the difference between a good and service? Give three examples of each. Unit 2 Topic A and B (discussion, notes) Read Chapter 6; answer 2,3,4,11,12,13 on page 122

Economics—period 4 and 5 September 4, 2014 Objective: Public goods ESLR: Critical thinkers Warm up—What are government redistribution programs? Give examples. Questions review p70 (1-4, 6) p66 (1-3) Public assistance (short video, notes) Externality review Making an economic argument Vocabulary exercise Study questions for tomorrow’s quiz Quiz Friday

Study questions What are public goods? Give an example. Explain how this public good wouldn’t be produced otherwise. What are externalities? Give examples of both positive and negative externalities. What is the safety net? Give examples of redistribution programs. Why do these programs make good economic sense?

US History September 4, 2014 Objective: Reconstruction Warm up—Who was Mathew Brady? Mathew Brady (reviewed) Summary of The Union in Peril (reading) Vocabulary review worksheet Quiz tomorrow on Chapter 4

AP Macroeconomics September 5, 2014 Objective: Unit 2: National Income Warm up—Explain the difference between a durable and a nondurable good. Give examples. Unit 2 Topic A and B (discussion, notes) GDP worksheet Chapter 6; answer 2,3,4,11,12,13 on page 122

Economics—period 4 and 5 September 5, 2014 Objective: Public goods ESLR: Critical thinkers Warm up—Explain the opportunity cost of eating tacos for breakfast. Quiz The People Bomb (1 and 2) Making an economic argument

U.S. History September 5, 2014 Objective: Chapter 4 Exam Warm up—Why did the U.S. have a Civil War? Exam on Chapter 4 Next steps

AP Macroeconomics September 8, 2014 Objective: Unit 2: National Income Warm up—List three areas of economic activity excluded from GDP. GDP worksheet The Business cycle Economics USA

Economics—period 4 and 5 September 8, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—How do we know the price of a good is too high? Demand (reading, questions) Graphing demand Economics USA—Demand Supply

U.S. History September 8, 2014 Objective: Chapter 5 Warm up—What are the Great Plains? Native Americans and the West (reading p202-203) Items 1 and 2 on page 211 America’s Great Indian Nations (video, notes) Homework: Complete items 1 & 2 on page 211

AP Macroeconomics September 9, 2014 Objective: Unit 2: National Income Warm up—Draw the business cycle. Label the parts. Explain the purpose of the diagram. The Business cycle reviewed Unemployment Economics USA reviewed Page 144 (2, 4, 6, 9-12, 14)

Economics—period 4 and 5 September 9, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—Draw a generic demand curve. Label the Price and quantity properly. Demand (quick review) Supply (reading, notes, schedules and graphs) Economics USA—Supply

U.S. History September 9, 2014 Objective: Chapter 5 Warm up—Who was Sitting Bull? Sitting Bull (p204) Review items 1 and 2 on page 211 Bloody Battles Continue (p206) Custer’s last stand (video, notes) Questions (p226 Main ideas 1-4) Finish questions for homework

AP Macroeconomics September 10, 2014 Objective: Unit 2: National Income Warm up—What is the Labor Force? Unemployment quick review Inflation How inflation changes individual and business decisions Homework review (p.144 2, 4, 6, 9-12, 14)

Economics—period 4 September 10, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—Draw a generic supply curve. Label the Price and quantity properly. Supply meets demand (notes, graphs, questions) Changes in supply and demand (Reading, questions) p131 1-3 HOMEWORK: p 158 Reviewing the Facts (1-8)

Economics—period 5 September 10, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—Draw a generic supply curve. Label the Price and quantity properly. Supply meets demand (notes, graphs, questions) Changes in supply and demand (Reading, questions)p131 1,2,4 and 7 HOMEWORK: p202 Recalling facts and Ideas (1-10)

Graph the following schedules for ollygoggles on your graphing paper Q $5 25 $10 17 $15 10 $20 3 P Q $5 5 $10 10 $15 15 $20 20

Questions At what price will 15 ollygoggles be demanded? At what price will 12 ollygoggles be supplied? What happens in the market at a price of $5? What happens in the market at a price of $15? What is the quantity demanded of ollygoggles at $12.50? What is the equilibrium price of ollygoggles?

U.S. History September 10, 2014 Objective: Chapter 5 Warm up—What happened at the Battle of Little Big Horn? Homework Questions (p226 Main ideas 1-4) Chapter 5 summary (reading, questions) Chapter 5 worksheet Review

AP Macroeconomics September 11, 2014 Objective: Unit 2: National Income Warm up—What is the CPI? How inflation changes individual and business decisions Macroeconomic relationships Homework review (p.144 2, 4, 6, 9-12, 14) EXAM on Unit 2 Wednesday September 17

Economics—periods 4 and 5 September 11, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—The equilibrium price of ollygoggles is $12.50. What happens if the price drops to $10.00? Draw a graph representing this situation. I am a pencil. (video, notes) Supply and demand quick review Homework check Changes in supply and demand (Reading, questions)

U.S. History September 11, 2014 Objective: Chapter 5 Warm up—What was the Dawes Act? Chapter 5 summary continued (reading, questions) Chapter 5 worksheet review Chapter 5 assessment

Welcome Parents! Steven Clotzman Room G-11 6:07 – 6:19 pm   Period 2 AP Macroeconomics 6:24 – 6:36 pm   Period 3 AP Macroeconomics 6:41 – 6:53 pm   Period 4 Honors Economics 6:58 – 7:10 pm   Period 5 Economics 7:15 – 7:27 pm   Period 6 U.S. History

AP Macroeconomics September 12, 2014 Objective: Unit 2: National Income Warm up—Explain the relationship between the rate of inflation and interest rates. Macroeconomic relationships Homework review (p.144 2, 4, 6, 9-12, 14) Is Wal-Mart good for America? HOMEWORK ECONOMICS: Go to www.mrclotzman.com Watch the video on YouTube OR PBS Frontline Summarize the debate over Wal-Mart. Answer the question: Is Wal-Mart good for America? What are the pros and cons of Wal-Mart as a retail giant? What business practices give them a competitive edge in the marketplace? (3 paragraphs) EXAM on Unit 2 Wednesday September 17

Economics—periods 4 and 5 September 12, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—What does it mean to say no one person knows how to make a pencil? Normal v Inferior goods Supply and demand review Is Wal-Mart good for America? (video, notes, homework) HOMEWORK ECONOMICS: Go to www.mrclotzman.com Watch the video on YouTube OR PBS Frontline Summarize the debate over Wal-Mart. Answer the question: Is Wal-Mart good for America? What are the pros and cons of Wal-Mart as a retail giant? What business and practices give them a competitive edge in the marketplace? (3 paragraphs)

U.S. History September 12, 2014 Objective: Chapter 5 Warm up—Why did Native Americans resist assimilation into white culture? The Dawes Act examined (video, notes) Chief Joseph (reading, questions) https://www.youtube.com/watch?v=eKze102dl Pg

AP Macroeconomics September 15, 2014 Objective: Unit 2: National Income Warm up—What is the multiplier effect? Collect Homework: Is Wal-Mart good for America? Economics USA: John Maynard Keynes Macroeconomic relationships and the Multiplier effect HOMEWORK ECONOMICS: p163-164 (3-10) EXAM on Unit 2 Wednesday September 17

1 MULTIPLIER= ------ 1 - MPC

The multiplier Explain the effect of $25 billion in additional government spending with an MPC of 80%. Explain the effect of $50 billion reduction in government spending with an MPC of 75%. Explain the effect of $275 billion additional spending in the economy with a MPC of 60% Explain the effect of rising unemployment that accounts for a $125 billion reduction in household incomes with a MPC of 66%. Explain the effect of $75 billion in additional unemployment benefits with a MPC of 90%.

Economics—periods 4 and 5 September 15, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—How does income influence the demand for a good? Collect Homework: Is Wal-Mart good for America? (video, notes, homework) Supply and Demand practice review Supply and demand worksheet

U.S. History September 15, 2014 Objective: Chapter 6: Industrial revolution Warm up—What do the words “rural” and “urban” mean? Letter from the factory Industrialization (video) Book on Industrialization. Three sections and a map. Population growth Grade test

AP Macroeconomics September 16, 2014 Objective: Unit 2: National Income Warm up—Explain why a $10,000,000,000 reduction in food stamps might be bad economics. Multiplier reviewed Homework review Examine the effect of $10,000,000,000 in tax cuts EXAM on Unit 2 Wednesday September 17

Economics—periods 4 and 5 September 16, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—A reduction in the number of workers will have what effect on the overall supply of a good? Draw the appropriate graph. Supply and demand worksheet Review

U.S. History September 16, 2014 Objective: Chapter 6: Industrial revolution Warm up—What is industrialization? Industrialization (video) Your book on Industrialization. Three sections A map A graph showing some data change Pictures. A letter from the factory

AP Macroeconomics September 17, 2014 Objective: Unit 2: National Income Warm up—Explain the relationship between Consumption and Savings. Unit 2 Exam Unit 3 introduced READING: Unit 3 Topic A

Unit 2 packet Warm ups Homework for chapters 6, 7, and 8 WS on Econ USA, GDP, and inflation Additional notes Exercise for multiplier

Economics—periods 4 and 5 September 17, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—People who can’t afford ollygoggles often go to fortune tellers. What effect will a drop in the price of ollygoggles have on the overall demand for fortune telling? Draw the appropriate graph. Review Supply and demand worksheet Economics USA: What sets the price?

U.S. History September 17, 2014 Objective: Chapter 6: Industrial revolution Warm up—What advantages in production do machines have over people? Your book on Industrialization. Three sections A map A graph showing some data change Pictures. A letter from the factory (research and writing)

AP Macroeconomics September 18, 2014 Objective: UNIT III. MACROECONOMIC MODELS AND FISCAL POLICY Warm up—What did Keynes advocate that was different from classical economic thinking? Explain. Aggregate Expenditures Model Equilibrium GDP (p170), Net exports and equilibrium GDP (p174), Government spending and equilibrium GDP (p177), Taxes and equilibrium GDP (p174), Recessionary and inflationary expenditure gaps (p180) The Commanding Heights READING: Unit 3 Topic A (chapter 9)

Economics—periods 4 and 5 September 18, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—One necessary resource for making ollygoggles is doodle-dandies. If the price of doodle-dandies drops, what will happen to the supply of ollygoggles? Draw the appropriate graph. Choose four graphs. Make up a market situation that these could represent. Questions (p.147 9-15, 18-22) HOMEWORK: Take the practice quiz on the Economics resource page at www.mrclotzman.com. EXAM tomorrow!!!!

U.S. History September 18, 2014 Objective: Chapter 6: Industrial revolution Warm up—What is labor? A letter from the factory (writing) Your book on Industrialization. Three sections A map A graph showing some data change Pictures.

A letter from the factory Paragraph one: Introduction, what kind of factory, where is it located, how you got there. Paragraph two: What you do, the conditions in the factory, things that have happened and what you’ve witnessed. Paragraph three: Your future, plans, expectations, etc.

AP Macroeconomics September 19, 2014 Objective: UNIT III. MACROECONOMIC MODELS AND FISCAL POLICY Warm up—What impact on GDP could we expect with a cut in federal spending of $100 billion with an MPC of 50%. Explain the larger economic consequences of such a cut? Taxes and equilibrium GDP (p174), Recessionary and inflationary expenditure gaps (p180) The Commanding Heights HOMEWORK: Chapter 9 page 184 (2,4,6,8,9,10,13)

Economics—periods 4 and 5 September 19, 2014 Objective: Supply and Demand ESLR: Critical thinkers Warm up—Because it takes a special skill to make a doodle dandy, doodle dandy makers (Doodlers) are in short supply. What happens if a new technique for doodling is developed? Draw the appropriate graph. Supply and demand exam Complete Questions from yesterday (p.147 9-15, 18-22)

U.S. History September 19, 2014 Objective: Chapter 6: Industrial revolution Warm up—What is a labor union? Quick review of chapter summaries Your book on Industrialization. Three sections A map A graph showing some data change Pictures. Homework: Complete your book on Industrialization.

AP Macroeconomics September 22, 2014 Objective: UNIT III. MACROECONOMIC MODELS AND FISCAL POLICY Warm up—A sudden increase in interest rates from 5% to 10% reduces overall investment for the year by $150 billion. What impact on GDP could we expect with an MPC of 60%? Explain. Savings and Investment; paradox of thrift. Homework review: page 184 (2,4,6,8,9,10,13) The Commanding Heights

Economics—periods 4 and 5 September 22, 2014 Objective: Business and ESLR: Critical thinkers Warm up—Give three reasons some businesses are more successful than others. A business of your own (1-3 people) Chapter 8: Business organizations (reading and questions) p207 11-13

A Business of your own Develop a product for sale (something new) Describe your sphincter. What does it do? What is its use? What makes it unique? How will you produce this product Factors of production Estimate the cost of production Outline the target market for your product Who is your customer? Develop a specific market strategy What you will do to reach your target market?

U.S. History September 22, 2014 Objective: Chapter 7: Industrial revolution Warm up—What is a strike? Turn in your book on Industrialization. Labor and strikes (reading p247-249) Main Idea questions page 250 (5-8) Haymarket Martyrs (video, notes)

AP Macroeconomics September 23, 2014 Objective: MACROECONOMIC MODELS AND FISCAL POLICY Warm up—Explain the paradox of thrift. Aggregate Demand and Aggregate Supply Chapter 10 questions (p203-204 1-12) Macroeconomic relationships Commanding Heights

Economics—periods 4 and 5 September 23, 2014 Objective: Business and ESLR: Critical thinkers Warm up—What is a sole proprietorship? A business of your own (prepare to share) Chapter 8: Business organizations (reading and questions)

U.S. History September 23, 2014 Objective: Chapter 7: Industrial revolution Warm up—Who were the Haymarket Martyrs? The New Immigrants (p254-259) Through the Golden Door Life in the New Land Immigration restrictions Assessment (p259 2-4) Immigration (video, notes)

AP Macroeconomics September 24, 2014 Objective: MACROECONOMIC MODELS AND FISCAL POLICY Warm up—What is a private closed economy? Quick review (relatively quick) Commanding Heights HOMEWORK: Finish Chapter 10 questions (p203-204 1-12) Read Chapter 11.

Economics—periods 4 and 5 September 24, 2014 Objective: Business and ESLR: Critical thinkers Warm up—What is a partnership? A business of your own—posters (prepare to share) Chapter 8: Business organizations (reading and questions)

U.S. History September 24, 2014 Objective: Chapter 7: Industrial revolution Warm up—What was Ellis Island? Review Assessment (p259 2-4) Worksheet on Immigration Immigration (video, notes)

AP Macroeconomics September 26, 2014 Objective: MACROECONOMIC MODELS AND FISCAL POLICY Warm up—What are some disadvantages to a private closed economy? Review the review questions Commanding Heights HOMEWORK: Finish Chapter 10 questions (p203-204 1-12) Read Chapter 11.

Economics—periods 4 and 5 September 26, 2014 Objective: Business and ESLR: Critical thinkers Warm up—What is a corporation? Chapter 8: Business organizations advantages and disadvantages A business of your own—posters (if time allows, prepare to share on Monday)

Business organizations Define the following business organizations. Give examples. Explain three advantages and three disadvantages of each: Sole proprietorship Partnership Corporation Franchise

U.S. History September 26, 2014 Objective: Chapter 7: Immigration Warm up—What was the Chinese Exclusion Act of 1882? The Chinese Exclusion Act examined (in groups chose three clauses, explain their meaning, come up with the practical results of these clauses Video, notes Review worksheets on Immigration

AP Macroeconomics September 29, 2014 Objective: MACROECONOMIC MODELS AND FISCAL POLICY Warm up—What is the public debt? What if? (video, notes) Ownership of the public debt (p219) Fiscal policy reviewed Crowding out Homework problems HOMEWORK: Homework: page 225 (2, 5, 6, 11).

Economics—periods 4 and 5 September 29, 2014 Objective: Business and ESLR: Critical thinkers Warm up—What is liability? A business of your own—presentations Chapter 8: Business organizations advantages and disadvantages (Reviewed) Vocabulary review

Business organizations Define the following business organizations. Give examples. Explain three advantages and three disadvantages of each: Sole proprietorship Partnership Corporation Franchise

U.S. History September 29, 2014 Objective: Chapter 7: Immigration Warm up—Give two reasons for the Chinese Exclusion Act of 1882? The Chinese Exclusion Act examined (in groups chose three clauses, explain their meaning, come up with the practical results of these clauses Video, notes Review worksheets on Immigration Homework: p272 Main Idea questions 3-5

AP Macroeconomics September 30, 2014 Objective: MACROECONOMIC MODELS AND FISCAL POLICY Warm up—Give three reasons why concerns about the National Debt are overblown. The Affordable Care Act or Obama Care: Who knows? Crowding out Fiscal policy reviewed Homework problems (Page 225 (2, 5, 6, 11).

Economics—periods 4 and 5 September 30, 2014 Objective: Business and ESLR: Critical thinkers Warm up—What is a limited liability partnership? The Affordable Care Act or Obama Care: Who knows? Chapter 8: Business organizations (p206-207 1-8, 18, 20, 21) The Firm (video, notes)

U.S. History September 30, 2014 Objective: Chapter 7: Immigration Warm up—Give two reasons for the growth of cities during the Industrial Revolution. Homework check and review (p272 Main Idea questions 3-5) The Chinese Exclusion Act (video, notes) Share your posters The growth of cities