See the source image

Economics
Mrs. Palmer

Spring 2021

Glossary

INSTRUCTIONS FOR COMPLETING ONLINE ASSIGNMENTS

            Daily Attendance       Meeting Room

Adam Smith's Ideas Changed the World

REGULAR ECONOMICS

AP/IB ECONOMICS

January 11 - 18

See the source image
The society that puts equality before freedom will end up
with neither.

Milton Freidman
 

***Feel free to use any of the resources on this page to answer the quiz questions.....Textbook, Power Points, Glosaary***

 

AP ASSIGNMENTS

Unit 4 Imperfect Competition:

 

January 13

See the source image

Martin Luther King Day

The celebration of an American hero


Watch this special video

January 25

Image result for the invisible hand
The Invisible Hand

AP ASSIGNMENTS


  • Watch the video lecture:
     
    Assignment:
    • Read and take notes on Chapter 8:  "The Level of Overall Economic Activity"
    • Pages 216-235 in the Cambridge Text.
    • Submit your notes in PDF format (or scan them) to PalmerMBA@outlook.com
    • Due January 29, 2021

     

 

February 1

The North Korea Socialist State

See the source image

At the core of North Korea philosophy is Socialism

Assignments

1.  Take the Chapter 2 Test 

2.  Watch "The Secret State of North Korea"  and write a one-page essay (reflection) comparing communism to the Free Market economies. 


Watch for background

AP Assignments


  • Assignment
  • Read and take notes on Chapter 9:  "Aggregate Demand and Aggregate Supply"
  • Pages 236-264 in the Cambridge Text.
    Submit your notes in PDF format (or scan them) to PalmerMBA@outlook.com
  • Due February 8, 2021
February 8

See the source image

Is America Number One?
Macro Measures

 

February 15

See the source image

Ch 3, The Free Enterprise System

Macroeconomic Measures:


 
  • Read and take notes on Chapter 11:  "Macro Objectives II:  Economic Growth & Distribution of Income".
     
  • Pages 293-319 in the Cambridge Text.
     
  • Submit your notes in PDF format (or scan them) to PalmerMBA@outlook.com
     

  • Due on February 23.
 
February 22

You learn better by working with another student.

See the source image

If you would like to tutor another student, let Mrs. Palmer know. You will receive extra credit

MAKE-UP WEEK REGULAR ECON

Use this week to do make up work. Don't forget that you can redo assignments on Saturdays


See the source image

We will start a new grading period on Monday, March 1

AP ECON - Aggregate Demand

See the source image


Why do we get so much extra work?

Because you're an AP student!

March 1

"Click to watch the video"

LESSONS FROM AFRICA

There is a law in politics and economics called the "law or unintended consequences." It means that sometimes the best of intentions can have the opposite political or economic effects.

After watching the video (on the left), write a paragraph to explain the effects of "free markets" on third world countries. Are they important or not as important as the video suggests.

 

Demand-side Policies

Read and take notes on Chapter 12:  "Demand-side Policies"
Pages 320-338 in the Cambridge Text.
  
Submit your notes in PDF format (or scan them) to PalmerMBA@outlook.com
  
Due on March 9, 2021

March 8


Please remember to use both your first and last name on all of your  submissions.


 

Ch 4 Demand

Lessons

Assignments

See the source image

Ch 4 IB/AP Supply Side Policies
  • Read and take notes on Chapter 12:  "Supply-side Policies"

  • Pages 338- 349 in the Cambridge Text.

 

April 5


DECREASE IN SUPPLY

See the source image

REGULAR ECON

Ch 5 Supply


Lessons

Assignments

 

IB/AP ECON

 


  • Please complete attached, " Problem Set 3  Aggregate Demand and Supply and Fiscal Policy" and The Unit 3 Practice Worksheet (Sent to you in a separate email)
     
    Submit in PDF format (or scan it) to PalmerMBA@outlook.com.

    Due on April 15, 2021

     

  • The Phillips Curve


  •  

DO NOT DO ASSIGNMENTS BELOW THIS LINE

October 12

See the source image
McDonald's Prices 1950

Chapter 6 - Market Equilibrium and Disequilibrium
Trade and Taxes
  • Lessons
  • Assignments
    • 1.Watch the lecture on Trade and Taxes.

    • 2. Complete  Problem Set 2. (Due October 20)

    • 3. Turn in to PalmerMBA@outlook.com


    • Complete and turn in Chapter 13: International Trade Notes and Diagrams from the Cambridge Text. ( Due October 23):

    • Chapter 13, International Trade: Pgs. 354-356 Section 13.1 The Benefits of Trade; Pg 363-367 Section 13.3 The WTO; Pg 368-370 Import Quotas; Pg 372-373 Subsidies; Pg 375-379.

    • Turn Notes in to PalmerMBA@outlook.com


October 19

See the source image

Chapter 7 Market Structures

Market Structures


See the source image

October 26

Our grades need to be submitted next week so Sunday, Nov 1 is the cut-off for this grading period.

Work on your make-ups

 

The History of Business

In this lesson you will follow these steps

  1. Download and print the study questions for the assignment
  2. Watch the History of Business video
  3. Answer the study questions as you watch the video
  4. Take the video test. This is part of your grade.

 

Costs of Production


  1. Watch the video lecture on "Costs of Production"

  2.  Complete and turn in Notes and Diagrams for Chapter 7: Theory of the Firm II: Market Structures from the Cambridge text:  Pgs. 168-181 (Due November 3).

    Good Luck!

 


  

November 2

 

Business Models
 

The History of Business


In this lesson you will follow these steps

  1. Download and print the study questions for the assignment

  2. Watch the History of Business video

  3. Answer the study questions as you watch the video

  4. Take the video test. This is part of your grade.

GREAT TIP!!
https://www.youtube.com/watch?v=U_NAiNcVud0

  1. Print a hard copy of your assignment.

  2. Answer the questions on your hard copy

  3. Use video or pdf power point to look up the answers.

  4. Get help from your friends

  5. Reopen the test and plug in your answers

November 9

See the source image

Samuel Gompers Labor Pioneer
Socialist turned Capitalist

Unions and Labor


ISSUES

Watch the video then tell us what you think.


See the source image

Market Structures


 

  • Watch the video lecture on, “Long Run Costs”

  • Watch the video lectures on “Perfect Competition” I and II:

  • Part I:

  • Part II:


  • Complete and turn in Notes and Diagrams for Chapter 7: Theory of the Firm II: Market Structures from the Cambridge text:  Pgs. 181-201 (Due November 13).


  •  Complete and turn in Notes and Diagrams for Chapter 7: Theory of the Firm II: Market Structures from the Cambridge text:  Pgs. 201-214 (Due November 20).


  • Turn Notes and Diagrams in to PalmerMBA@outlook.com


Good Luck!

 

 

 

November 16 & 23

Socialism is an important topic in the news today. Socialists are pushing to fundamentally change America from a Capitalist economy to a Socialist one.

We are discussing Capitalism and Socialism to help you to understand this issue. After you finish the lessons for this unit you should be able to make an informed judgement on the issue.

If you have questions please contact me via email:PalmerMBA@outlook.com

 
THE HISTORY OF SOCIALISM
 
Perfect Competition
  • Submit your completed FRQs and P-Set 3 to PalmerMBA@outlook.com by November 25th

  • Perfect Competition In the Long Run Lecture

 

November 30

See the source image

THE HISTORY OF SOCIALISM continued

 

 

December 7

See the source image
The only thing wrong with socialism is that sooner or later you run out of OTHER peoples money.


Karl Marx and Adam Smith

See the source image          

THE HISTORY OF SOCIALISM continued
The two most important economic philosophies are Karl Marx Socialism and Adam Smith Capitalism.

Watch the two videos below and then write a short essay explaining which philosophy is best for the modern world. In other words, are you a Socialist or Capitalist. When you write your essay, make sure you refer to the content in the two videos below. I need to know if you really watched the videos or not.

 

MONOPOLIES

December 14

Image result for Final Exam Logo

 

Final Exam Practice and Exam
  • ECON PRACTICE FINAL A
    • How to practice video
    • This practice exam is the same as the final exam you will take on Wednesday
    • SAME QUESTIONS
    • Take the exam over and over until you know most of the answers
  • Final Exam A
    Will be on Thurs am till noon
AP Final Exam
DO NOT DO ASSIGNMENTS BELOW THIS LINE
 
  • NSA Security Abuses
    • Take notes on video and turn them in for credit
    • Does the government abuse its power to spy on the American people
    • Takes notes on video and turn in for credit
Karl Marx Socialism

Adam Smith Capitalism

Compare and contrast then choose


Experiment in Democratic Socialism

We are proposing the following grade policy.

All grades for an assignment will be averaged and everyone will get the same grade. From each according to their ability to each according to their need.

No students will fail and no student will get a grade higher or lower than other students. If you get an "A" on an assignment that grade will be averaged with the other grades so you will most likely be assigned a "C." Likewise, if you currently have an "F" grade you will also be assigned the average grade, most likely a "C"

Do you vote to accept this Socialist grade policy?

Click here to vote

 


Text Chapter 6
Power Point

 

Production Possibilities
 
Power Point

Chapter 7 Textbook

 
 

Lessons

Assignments

  • Take Chapter 4 Notes & Diagrams from the Cambridge Text: Chapter 4-Government Intervention; Pg 72-74; Pg 75 Society as a Whole; Pg 81-83 4.3 Subsidies; Pg 88-100 4.5 Price Controls.
     
    Turn Notes in to PalmerMBA@outlook.com
 

October 26

Image result for lemonade stand

 

Business Models
 
 
Glossary

 

 

Chapter 10 

   
Textbook Ch 11  
Textbook Ch 14  
 

 

  • FINAL REVIEW
    • ECON FINAL A
    • ECON FINAL B

 

 
https://www.youtube.com/watch?v=jnJEEdp6W24&feature=emb_rel_pause

 

 
  • Basic concepts in Economics for AP/IB Students

  • LESSON

    ASSIGNMENT

    • Start a Google Doc word processing file
      Answer these questions on your Google Doc

      • 1. Define scarcity

      • 2. Define Economics

      • 3. Identify the relationship between scarcity and choices

      • 4. Explain how Macroeconomics is different than Micro

      • 5. Explain the difference between positive and normative economics

      • 6. Identify the 5 main assumptions of Economics

      • 7. Give an example of marginal analysis

      When the entire assignment is complete, email to Mrs. Palmer at the address below OR send it online to: AP REFLECTIONS

    • :

      Do not email individual questions, email all questions in one document

 
   
  • Basic concepts in Economics for AP/IB Students

  • LESSON

    • Economic Systems (3).pdf
      (study this pdf file)

      1. Review the PowerPoint Presentation, "Economic Systems"

      2. Pick up textbooks from the library.

      3. Using the Text, Economics for the IB Diploma, Read and take notes on Ch 1: The foundations of economics, pages 1-16.  Make sure your notes include all figures, for example the Production Possibilities Curve (PPC) page 5.

      4. Watch, "The Secret State of North Korea" and write a one-page essay comparing Communism to the Free Market.  Due Friday:

    • NORTH KOREA VIDEO <<<<<Watch

    • TRANSCRIPT OF THE VIDEO<<<<Read

    ASSIGNMENT

 
   
  1. Explain relationship between scarcity and choices
  2. Differentiate between positive & normative
  3. Differentiate between price and cost \
  4. Differentiate between consumer and capital goods
  5. Differentiate between command economies and free market economies
  6. Give examples of each of the 4 Factors of Production
  7. Define human capital
  8. Define tradeoffs
  9. Define opportunity cost

Mrs. Palmer Video Presentation

  • Using the Text, Economics for the IB Diploma, Read and take notes on Ch 2: Competitive Markets: Demand & Supply", pages 20-32; 39-44 (starting with section 2.6 on pg 39).  Make sure your notes include all figures, for example, the demand curves on page 23, labels included.  (Due on Tuesday, August 25)

  • Click to submit assignment

 
    Is America Number One?
  • LESSON
  • ASSIGNMENT
    • Take notes while watching the video then complete the assignment below
    • Is America Number 1
    • Since you are AP and IB students we expect a more in-depth analysis of the ideas put forth in the video
    • Using the Text, Economics for the IB Diploma, Read and take notes on Ch 3: "Elasticities", pages 47-71.  Make sure your notes include all figures, labels included. Include Table 3.4 on page 71 in your notes (Due on Tuesday, September 1)
       

  • Study the following Power Points

 
    LESSONS FROM AFRICA

There is a law in politics and economics called the "law or unintended consequences." It means that sometimes the best of intentions can have the opposite political or economic effects.

After watching the video (on the left), explain the effects of "free markets" on third world countries. Are they important or not as important as the video suggests.

As an IB/AP student your answer should be detailed and comprehensive.

 
   

EXTRA CREDIT Presidential Debate
Tuesday 6 pm - Any Media Outlet

 

Watch the debate between Joe Biden and President Donald Trump.

Record your observations. What has each candidate said that you agree with? What did they say that you disagree with?

PRES DEBATE <<< CLICK HERE FOR THE ASSIGNMENT

 

Both President Trump and Joe Biden want to do what is best for America; they just have different philosophies about government. When you are trying to learn which candidate you want to support, take into consideration things like philosophy and programs and laws they support. You should NOT use things like race, religion, personality, appearance, class, or hearsay. Be positive and factual in your observations.

 

BE POSITIVE AND RESPECTFUL TOWARD BOTH CANDIDATES

BOTH ARE GOOD MEN WHO WANT TO DO WHAT IS BEST FOR OUR COUNTRY

 

 
     
     
     
     
     
     

 

P