Sunday, October 14, 2012

Chapter 2-3 Key Terms


Market*

Demand*

demand schedule*

law of demand*

diminishing marginal utility*

income effect

substitution effect

demand curve*

normal goods*

inferior goods

substitute good*

complementary good*

change in demand

Business firm*

Improve technology*

change in quantity demanded*

Supply*

supply schedule*

law of supply

supply curve*

change in supply*

change in quantity supplied*

Surplus*

Shortage*

Price ceiling*

Three functions of prices

Market equiibrium*

Demand shifts to the left or right*

Supply shifts to the left or right*

Tuesday, August 28, 2012

Economics Class Information 2012-13

An understanding of the Science of Economics can help you to become wise in the following areas.

1. The use of money.
2. Investing for the future.
3. Making sound decisions.
4. Evaluating government programs and politician’s promises.
5. Being a steward of the gifts the Lord has blessed each one of us with.
6. The steps and the process of starting and running your own business.

Scope and Sequence of Economics

1. Chapter 1 What is Economics
2. Introducing the Stock Market Game
3. Chapters 2-3 Demand and Supply
4. Chapter 5 What is the Economic Problem
5. Chapter 4 The Workings of a National Economy
6. Chapter 11 Measuring the Wealth of a Nation

Group Presentations:
The following chapters (6-9 and 13, 16-17) will be presented orally over two days to the class by a group of 2 students. Each group is to research, study and prepare the subject matter so that they can teach it to the rest of the class. The text book will guide you concerning topics to cover, but you will have to gather and use up to date informationin your presentation. Each two day presentation worth 100 points will include:

1. An exhibit, power point, or website format.

2. An oral presentation and discussion time.

3. A handout to be used by the class to take notes during the presentation and also as a study guide to review for a test on the material covered in the presentation.

4. Current data and information. The use of out dated data or information is not acceptable. Research will be required to obtain and present current information.

5. An outline of your presentation ONE WEEK IN ADVANCE of the presentation.

6. Main economic terms defined and applied to the topic.

7. Evidence that you prioritized your topic. Including important and excluding non essential data.

8. The lesson should have interactive and practical elements.

The 3 tests will cover (I will make the tests)

1. Chapters 6-7                                                                                                                                         2. Chapters 8 & and 9                                                                                                                              3.Chapters 13, 16 and 17

Ch. 6 Economic Systems

Ch. 7 Forms of Business Ownership

Ch. 8 & and 9 Market Structure and Competition- Money and Banking

Ch. 13 Inflation

Ch. 16-17 Cash Management, Savings, and Consumer Credit