Econ HW

For Monday's class, please respond to the following.  Remember, this task is for me to ensure that YOU understand the information.  I recognize you CAN find the information on the internet, and TRUST that you will not do so so that I know that you know what you're talking about.

"Write a memo explaining why the market sets prices efficiently and that price ceilings create shortages."

You may use graphs, but your response should be predominately in words.

HSPA Schedule

Here's your schedule for next week:

HSPA afternoons – March 5, 6 and 7, 2013

Tuesday, March 5 – A day

12:00 – 12:40    3/4 class

12:43 – 1:23      1/2 class

1:27 – 2:07        7/8 class

2:10 – 2:50        9/10 class

Wednesday, March 6 – B day

12:00 – 12:40    3/4 class

12:43 – 1:23      1/2 class

1:27 – 2:07        7/8 class

2:10 – 2:50        9/10 class

Thursday, March 7 – A day

12:00 – 12:40    3/4 class

12:43 – 1:23      1/2 class

1:27 – 2:07        7/8 class

2:10 – 2:50        9/10 class

Answers to End of Chapter Problems

I recommend that you check the top of the page to determine which chapter these are, since it's not very clear by the text itself.

Economics Review Answers

Test 1

Your first test will occur on February 26.  This will assess your understanding of the following concepts.  Please note that I've identified the relevant chapters in your textbook.  Please feel free to use this as a resource, but everything you need to know can be found in your podcasts.

WOOOOO!!!

Points to know:

Chapter 1--

    Scarcity, choice, opportunity costs
    Trade--specialization, division of labor, increasing opportunity costs (Think of LeBron mowing his own lawn)
    Production Possibilities Curve--relation to increasing opportunity costs, inefficiency

Chapter 3--

    Demand curve--change in demand vs changes in quantity demanded
    Factors that shift demand
    Supply curve--change in supply vs changes in quantity supplied
    Factors that shift supply
    What is equilibrium?
    How does equilibrium change with changes in demand/supply?
    Surplus and shortage

Chapter 4--

    Define elasticity
    What is the formula for the coefficient?  How is it calculated?  (Don't forget the midpoint!)
    Inelastic vs Elastic? 

Article and Reminders

Here's the article on gas rationing.

Friday, we will be reviewing and practicing for your test on Tuesday.

We will continue with the gas rationing PBL after the test.

Elasticity

Your note sheet for Elasticity can be found here .


Podcast:

Elasticity from Christina Roy on Vimeo.

Current Events

Current events discussion instructions can be found here.

Equilibrium

PLEASE NOTE:  I made an error on the Podcast and the screen you will see there.  On slide two, SUPPLY=DIRECT RELATIONSHIP BETWEEN PRICE AND QUANTITY.  It is correct on the slide below.  I apologize for the confusion.

Please be sure to print out the powerpoint so you can annotate as I did.
Powerpoint


Market Equilibrium from Christina Roy on Vimeo.

Demand and Supply Powerpoint

In case you want this for notes, click here for Supply and Demand powerpoint note sheet.

SOTU

Today, we will view the State of the Union address. 

Your assignment.

Feel free to visit Politifact for Obama's speech and for Rubio's.

Another good fact checker is Factcheck.org; here's the link for Obama's speech; they do not appear to have a page for the Republican response.

Supply Podcast

You should watch the Demand Podcast before this one.
If you wish to move ahead, feel free to view this.

Demand Podcast

Here's your podcast on demand. It's my first attempt, so please be gentle.
Huge props to Mr. Seigel for editing, who also tells me it's D-zero, not D-original.

Your first homework assignment

Day 1 Powerpoint and HW Assignment

1. Complete Student Information Sheet
2. Read and bring questions about Econ Syllabus
3. Familiarize yourself with this site

Day 1 Econ