Economics and FUN Karsten Walker karstenwalker@alpinedistrict.org MVHS https://sites.google.com/a/alpinedistrict.org/karsten-edu/

Engaged Learning - Activities Tennis Ball Activity – Marginal Utility https://www.youtube.com/watch?v=7m32KqKBJZE Rounds of Production – Cartels http://www.fte.org/teacher-programs/eflprograms/ Skittles and Math – Supply and Demand – Labor Markets http://councilforeconed.org/wp/wp- content/uploads/2014/06/high-school-economics- sample-lesson-13.pdf

Tennis Ball Marginal Utility – Thinking on the Margin – Diminishing Marginal Utility

Production Costs & Diminishing Returns Your aim is to transfer as many tennis balls as possible from one bucket to the other in 30 seconds. This process is then repeated with an additional or marginal worker added to the labor force each run. The work that each successive group completes constitutes one point on the production function. From this we will calculate the marginal and average products. Rules: No throwing of tennis balls. Each of the balls must be placed in the 2nd bucket Only one person may take balls out of the 1st bucket and only at a rate of one at a time Each student must handle every ball on each run, the balls should be passed from hand to hand. For every tennis ball that is moved from the 1st to the 2nd bucket $400 in participation points is earned. However, $200 is charged per worker and there is a $500 fixed cost for playing. Cast your vote by predicting the number of workers (2,4,6, or 8) that will earn the highest profit. Each dollar of profit equals one participation point.

Demonstrating Diminishing Marginal Product Online Stopwatch Your aim is to transfer as many tennis balls as possible from one bucket to the other in 30 seconds. This process is then repeated with an additional or marginal worker added to the labor force each run. The work that each successive group completes constitutes one point on the production function. From this we will calculate the marginal and average products. Rules: No throwing of tennis balls. Each of the balls must be placed in the 2nd bucket Only one person may take balls out of the 1st bucket and only at a rate of one at a time Each student must handle every ball on each run, the balls should be passed from hand to hand. For every tennis ball that is moved from the 1st to the 2nd bucket $400 in participation points is earned. However, $200 is charged per worker and there is a $500 fixed cost for playing. Cast your vote by predicting the number of workers (2,4,6, or 8) that will earn the highest profit. Each dollar of profit equals one participation point.

Excel File Tennis Ball Production $400/ball Q labor TP MPL 0 0 1 6 6 0 0 1 6 6 2 11 5 3 14 3 4 18 4 5 20 2 6 21 1 7 18 -3 8 16 -2 9 14 -2 10 0 -14

Memes

VIDEOS We the Economy https://wetheeconomy.com/ ACDC Economics Cliffordhttps://www.youtube.com/user/ACDCLeadership EconPop https://www.youtube.com/user/econstories Drop Box – Econ Videos Economist Raps https://www.youtube.com/watch?v=d0nERTFo-Sk https://www.youtube.com/watch?v=GTQnarzmTOc

Class Debate Economic Pros and Cons of Universal Pre-k Education - Social Impact or Benefit Bond – Pay for Performance Opening Affirmative Opening Negative First Affirmative First Negative Second Affirmative Second Negative Break, Research, Preparation Closing Arguments/Rebuttals

Gamification www.getkahoots.com user name MVHSMrWalker Quizlet San Francisco – “Chair the Fed” Monetary Policy http://sffed- education.org/chairthefed/WebGamePlay.html Game Theory – Prisoner’s Dilemma https://www.youtube.com/watch?v=p3Uos2fzIJ0

Checks for Understanding - Exit Tickets Think Pair Share – Mingle Pair Share Writing Prompts 1 or 2 minute – quick writes Sticky Note Storm Quiz, Quiz, Trade Flash http://www.weareteachers.com/blogs/post/2015/08/28/5- fun-alternatives-to-think-pair-share