Honors Econ. Unit 2 Plans Jan. 23- Feb. 3

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Posted by cliftonj | Posted in Hon. Gov/Econ | Posted on January 19, 2017

**There is an opportunity to join with another group to travel abroad this summer. There are six spots still available. The trip is to London, Paris, and Barcelona. Barcelona

Tour Number: 1809951TV
Group Leader: Carol Burrows
Requested Departure Date: 6/26/2017
Requested Return Date: 7/5/2017
Requested Departure Gateway: ATL
10 days
England, France, Spain

 

 

Monday January 23

LG: Describe how each sector of the economy (households, businesses, and government) interacts with one another in markets. They will explain how each sector is both consumer and producer in order to create a circular flow of goods and services.

  1. PowerPoint notes/videos- money, circular flow
  2. Activity- Household/Business Simulation
  3. Discussion- Role of money as a medium of exchange

 

Tuesday January 24

LG: Define the law of demand and the law of supply. They will be able to explain the slope of the demand and supply curves using the laws of demand and supply.

  1. Quiz over money and circular flow
  2. PowerPoint notes and Videos- Demand
  3. Demand Activity

 

Wednesday January 25

LG: Define the law of demand and the law of supply. They will be able to explain the slope of the demand and supply curves using the laws of demand and supply. Students will use supply and demand curves to identify and explain the equilibrium price and quantity in a market.

  1. Tipping Point Quiz #1 – intro and Ch. 1
  2. Quiz over demand
  3. PowerPoint notes and videos- Supply
  4. Buyers and sellers of a commodity activity
  5. Practice graphing Supply/Demand  

 

Thursday January 26

LG: Differentiate between inelastic demand and elastic demand and inelastic supply and elastic supply, read and interpret supply and demand curves, tell how price floors and price ceilings are established and their effects on markets, explain how price acts as a market incentive, and explain market competition and its effects on demand, supply, and price.

  1. Quiz over supply
  2. PowerPoint notes/video- Equilibrium
  3. Market Game Activity

 

Friday January 27

LG: Students will use supply and demand curves to identify and explain the equilibrium price and quantity in a market.

  1. Complete notes on Equilibrium
  2. Graphing activity
  3. PowerPoint notes/video- Market Structures   

Monday January 30

LG: Explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

  1. PowerPoint notes/video- Surplus and Market Structures
  2. Check Equilibrium Activity  

 

Tuesday January 31

LG: Explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

  1. Quiz over Equilibrium
  2. complete PowerPoint notes/video- Market Structures
  3. PowerPoint notes/video- Elasticity
  4. Elasticity Activity, if time

Wednesday February 1

LG: Differentiate between inelastic demand and elastic demand and inelastic supply and elastic supply, read and interpret supply and demand curves, tell how price floors and price ceilings are established and their effects on markets, explain how price acts as a market incentive, and explain market competition and its effects on demand, supply, and price.

  1.  Tipping Point Quiz #2
  2. PowerPoint notes/video- Elasticity
  3. PowerPoint notes/video- Business Organizations
  4. Complete a chart on Bus. Org.
  5. Receive Problem Set, check at end of class tomorrow

 

Thursday February 2

LG: Explain market competition and its effects on demand, supply, and price, compare and contrast the advantages and disadvantages of sole proprietorship, partnerships, and corporations as forms of business organization, describe entrepreneurs and entrepreneurship in a market economy including the roles, significance, and effects, describe the characteristics of different market structures including monopolies, oligopolies, monopolistic competition, and pure (perfect competition).

  1. Quiz over Business Organizations
  2. Partner practice elasticity
  3. Check Problem Set

 

Friday February 3

LG: Demonstrate knowledge of Microeconomics.

1.Unit 2 assessment

 

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