1. Supply! and Demand! (together again…again)
CR-Economics
Supply! and Demand! (together again…again)
Anticipatory set – on display as students enter classroom.

2. AGENDA May 4, 2011 Today’s topics: Administrative:
CR-Economics
AGENDA May 4, 2011
Today’s topics:
Taking Care of Each Other / Review
Masterpiece Theater: A dramatic reading of Supply & Demand
Human Supply & Demand curves
Administrative:
Test feedback
Homework due Thursday, May 5:
none

3. Taking Care of Each Other
CR-Economics
Taking Care of Each Other
Our last CR-Economics class:
Video -- Economics U$A
Supply and Demand: What Sets the Price
Current Events: The markets after bin Laden
Progress Reports
[in addition to building community, this routine functions as a review] Teacher prompts/reminds, as necessary.

4. Masterpiece Theater Pick an accent, any* accent…
CR-Economics
Masterpiece Theater
Pick an accent, any* accent…
*No derogatory accents – see Classroom Ground Rule #1
Have students write their name next to the characters they will portray

5. CR-Economics
Masterpiece Theater

6. CR-Economics
Masterpiece Theater

7. CR-Economics
Masterpiece Theater

8. Human Supply & Demand curves
CR-Economics
Human Supply & Demand curves
Get out your Supply! and Demand! notes
Join your group
TBone Olivia Veronika Hugo Lorelei Dalton Pedro Lupita Cynthia Tommy Nick
Teacher directs students to join their assigned group
Clear desks/tables from the center of the room
Use tape to create a large graph with labeled SUPPLY and DEMAND curves on the floor (and PRICE and QUANTITY)

9. Human Supply & Demand curves
CR-Economics
Human Supply & Demand curves
You will see a headline and your group will discuss:
Does the headline affect the demand or supply curve?
Does the curve shift to the left, to the right, or not at all?
If the curve shifts, what demand or supply shifter causes the shift?
If the curve does not shift, discuss whether quantity demanded or supplied increases or decreases, and why?
One group will be selected -- Members of that group link arms.
I will ask, “Demand or supply?” The group will step together onto the graph and stand on the supply or demand curve affected by the headline.
I will ask, “Shift or stay?” The group should shift in unison two steps to the left or right. If the group thinks the curve does not shift, they do not move.
One member of the group will explain: What demand or supply shifter causes the curve to shift (& why). If the curve does not shift, explain whether the quantity demanded or supplied increases or decreases and why.

10. Human Supply & Demand curve HEADLINES (pg1)
CR-Economics
Human Supply & Demand curve HEADLINES (pg1)
Farmer Invents New Picking Machine—Harvests Apples in Half the Time
How will this information affect market demand or supply for Red Delicious apples?
Minimum Wage Increased 25%—Teen Workers to Benefit Most
How will this information affect market demand or supply for downloaded music?

11. Human Supply & Demand curve HEADLINES (pg2)
CR-Economics
Human Supply & Demand curve HEADLINES (pg2)
Nation’s Largest Spaghetti Producer Cuts Pasta Prices
How will this information affect market demand or supply for spaghetti sauce?
Colorado Ski Resorts Announce 25% Increase in Lift Ticket Prices
How will this information affect market demand or supply for lift tickets in Colorado?

12. Human Supply & Demand curve HEADLINES (pg3)
CR-Economics
Human Supply & Demand curve HEADLINES (pg3)
Popular Sports Figure Signs Endorsement Deal with Shoe Company
How will this information affect market demand or supply for athletic shoes?
Price for Coffee Beans at All-Time Low—Java Lovers Celebrate!
How will this information affect market demand or supply for espresso?

13. Human Supply & Demand curve HEADLINES (pg4)
CR-Economics
Human Supply & Demand curve HEADLINES (pg4)
Designer Announces New Line of Upscale Women’s Clothing
How will this information affect market demand or supply for women’s evening wear?
Subzero Temperatures Destroy Much of Florida’s Citrus Crop
How will this information affect market demand or supply for orange juice?

14. Homework Before you leave Put chairs on desk Turn in: Test corrections
CR-Economics
Homework
Before you leave
Put chairs on desk
Turn in:
Test corrections
Guided Notes handout
Homework due Thursday, May 5:
none