Honors Economics Week of 1/8/18

***Note:  There is some sort of pilot testing going on at our school this week and at this point I’m not sure the extent to which our class will be affected by it.  We’ll be flexible and adjust as needed but be prepared for the following below.

MON-Notes on economic goals and how they’re addressed by command and market economies

Ways to allocate scarce resources activity

Video clips and charts/graphs/maps on economic freedom by country

You will receive your Unit 1 Problem Sets in class today; they are due Friday, aren’t taken late

TUE-Quiz on economic systems

Activity on production possibilities

Notes on production possibilities curves

Practice sheets on PPCs

WED-Quiz on PPCs

Notes on private and public goods, market failures, and the role of government

Research government regulatory agencies such as SEC, FAA, FCC, etc.

THUR-Quiz on market failures and the role of government

John Stossel Goes to Washington video with questions on role of government

FRI-Unit 1 Problem Sets are due; we’ll grade them in class

Unit 1 Test will be Tuesday, January 16:  3 day weekend to study!

Register for AP Exams

Register for your AP Exams here.  This must be done by February 28th.  All students should sign up for the AP Microeconomics Exam.  If you are willing, I also encourage you to sign up for the AP Macroeconomics exam.  About 1/2 of the AP Microeconomics students took the macro exam last year and we had 22 students pass that exam with 11 4s and a 5.  While we aren’t taking the full AP Macroeconomics class, you will learn a good bit of that material 2nd semester to prep for the EOC and if you take the AP Econ/Govt Hoya Block you will be more prepared.  If you’ll just do a little work on your own outside of class like watching the videos on my blog and working practice tests I’ll give you, you’ll be prepared.  While you should check your prospective colleges’ AP policies and it’s up to you whether you want to take both tests, taking and passing both exams can put you in a good position.



Honors Economics Week of 1/1/18

THUR-Go over syllabus, introduce class

Notes over introductory economic concepts:  scarcity, factors of production, motivations for entrepreneurs, opportunity cost, rational decision making, marginal benefit and marginal cost, incentives, specialization, and voluntary exchange

Video clips to emphasize basic economic concepts

FRI-Quiz over introductory economic concepts from Monday

Notes on basic economic questions, comparing and contrasting the major economic systems of traditional, command, market, and mixed, economic goals, and comparing and contrasting ways to allocate scarce resources

Video clips to emphasize economic concepts


*Quiz Monday over economic questions, economic systems, economic goals, and allocating scarce resources

*Get the book Naked Economics and begin reading and taking notes on Chapter 2