Welcome to Government and Economics Mr. Rosenberg

Remind: Econ- Per. 1 and 7 Text 81010 @9e84ae

Getting to Know You Game Introduce yourself State one thing that you like that starts with the first same letter as your first name Exp: I’m Billy and I like Baseball

Syllabus/Class Norms Sheet Go over Syllabus Go through Classroom Norms and Expectations Community Service Project Explain Grading System a. Extra Credit Policy b. Late Work Policy c. Quiz/Test Correction Policy

Homework Have Class Norms and Expectations sheet signed by both you and your parents/Guardians

Class Norms -RESPECT: Teacher and Classmates -One Mic (No side Conversations) -Language: ABSOLUTELY NO RACIAL SLURS or anything else derogatory or demeaning -Classroom Engagement -Be here on time -No Phones/Electronic Devices -Effort: Give 110% Everyday

Required Materials -Notebook- ALWAYS TAKE NOTES -Pen/Pencil -Textbook- Bring it Everyday to Class

What is the Homework for Next Class? Warm Up What is the Homework for Next Class?

Looking Ahead: Next Class Bring Full Class Norms and Expectations Packet to Next Class

Homework Have Class Norms and Expectations sheet signed by both you and your parents/Guardians

Homework Read through Chapter 9, Pages 157-161, and write 1 paragraph In which you pretend that you are an entrepreneur Be Sure to explain: 1. What kind of Entrepreneurship are you starting and why 2. What Goods and Services will you be Producing 3. Which Resources will you be using to Produce these goods/services 4. The Role that Scarcity and Availability Plays in your Entrepreneurship

Learning Objectives Interpret the Importance of Economics and Government Analyze “The American Dream” Collaborate with Classmates to learn more about each other

Government and Economics Government: Institutions and Officials organized to establish and carry out Public Policy Economics: The Study of How People Choose to use their limited Resources to satisfy their unlimited wants Writing Activity: Write one Paragraph on the Relationship between Government and Economics. How do they Impact one another? What Connections can be Drawn between them? Why are they Important to Study?

The American Dream: Discussion What is “The American Dream”? How is “The American Dream” connected to the American Government? Do you think “The American Dream” is still a possible and Realistic Idea in Modern Society?

Media/Real Examples of Living the American Dream October Sky- https://www.youtube.com/watch?v=zxJQgYPXjN4 Kevin Durant- https://www.youtube.com/watch?v=F1m6g124YOM Eminem- https://www.youtube.com/watch?v=_Yhyp-_hX2s

Conduct Your own Research on Your Classmates Find out: 1. How many people believe that they can accomplish their goals? Why do they think this? 2. What fraction of the class does not believe they can accomplish their goals? Why do they think this? 3. Categorize the main goals of each student in the class into different bubbles

Create a Bubble Map of Student Dreams

How does Economics impact your goals and Dreams? Warm Up How does Economics impact your goals and Dreams?

Learning Objectives Interpret Basic Economic Vocabulary Terms Synthesize Entrepreneur Flow Chart Engage in Collaborative Learning

Homework: Pretend that You are the Entrepreneur Read through Chapter 2, Pages 17-23, and write 1 paragraph In which you pretend that you are an entrepreneur Be Sure to explain: 1. What kind of Entrepreneurship are you starting and why 2. What Goods and Services will you be Producing 3. Which Factors of Production will you be using to Produce these goods/services 4. The Role that Scarcity and Availability Plays in your Entrepreneurship

Looking Forward: Next Class BRING 5 Index Cards to class

Class Norms and Expectations Packet Fill out the Review Sheet on the Class Norms and Expectations Packet

Community service Project read through the Community Service Project Sheet When we are finished, sign it if you understand the Community Service Project Make sure to ask any questions that you have Hand in Your Sheet when You are done

brainstorming What is a resource? What Determines the Value of a Resource? What resource is the most valuable in Brentwood and why? What Resource is the Most Valuable in California and why? What Resource is the most valuable in the USA and Why? What Resource is the Most Valuable in the World and Why?

vocabulary Resource: Something that is needed to produce Goods and Services Resource=Factor of Production Factors of Production: Resources used to Produce Goods/Services a. Land: All of the Natural Resources that are used to produce Goods and services b. Labor: Any effort a person devotes to a task for which that person is paid c. Capital: Any human-made Resource that is used to create other goods and services

Check For Understanding Next to each word, write the correct factor of Production: 1. Diamonds 6. Tractor 2. Paint 7. Grading Tests 3. Medical Aid 8. Doing Someone’s Taxes 4. Oil 9. Hammer 5. Pizza Delivery 10. Good Farmland

Entrepreneur Flow Chart

Entrepreneur Entrepreneur: A Person who Assembles the Factors of Production to Create new Goods and Services What examples of Entrepreneurs can you think of in the modern day or throughout History?

Group Project: entrepreneurs Groups= 4/5 People Each Group= 1 Poster Each poster is based off an entrepreneur that your group knows about You have 30 Minutes to Make A Poster About your Entrepreneur Everyone in the Group Must Present the Poster and Your Findings to The Class

Group Posters: Each Poster needs to Have the Following Information: a. 1-2 sentence explanation of why the person is an entrepreneur b. How he/she made their money c. The reasons why their good/Service Made so much Money d. The Factors of Production used to Produce the Good/Service E. Entrepreneur Flow Chart F. 5 Images to Depict the Entrepreneur and their Entrepreneurship

Warm Up What is an Entrepreneur and what is the difference between an Entrepreneur and a Businessman/woman?

Homework: You are the entrepreneur Read through Chapter 2, Pages 17-23, and write 1 paragraph In which you pretend that you are an entrepreneur Be Sure to explain: 1. What kind of Entrepreneurship are you starting and why 2. What Goods and Services will you be Producing 3. Which Factors of Production will you be using to Produce these goods/services 4. The Role that Scarcity and Availability Plays in your Entrepreneurship

Learning Objectives Enhance Public Speaking Skills Engage in Individual and Collaborative Learning Analyze Different Forms of Capital

5 Minute Prep Time for Presentations You have 5 minutes with your group members to come together and Form a Presentation on the Entrepreneur that you made a poster on Every Group Member has to say Something and Be part of the Presentation Your Presentation must: Engage the entire class Demonstrate quality public speaking skills Show Knowledge of the Material

Presentations When one Group is Presenting, Everyone Else needs to write down 3 things the group did well in their presentation, and 3 things the Group needs to work on in presenting After each group has presented, we will give them Feedback without Calling anyone out (remember Class Norms) After all Groups have Presented we will start by stating three things the Group did well and then give them three points of constructive Feedback

Different Forms of Capital Brainstorming: What is Capital and where does It fit in the Entrepreneur Flow Chart? 2 Forms of Capital= Physical Capital and Human Capital Physical Capital: Human-made objects used to create other goods and services Human capital: Knowledge and skills a worker gains through education and experience

Check For Understanding What are three Examples of Physical Capital? What are three Examples of Human Capital?

Warm up What do you think is the difference between “Scarcity” and “Shortage”?

Homework: Create a Decision-Making Grid Think about a Critical Decision that you will be making in the next year…to make help you make this decision, Create a decision-Making Grid You Must Include: Choices Costs Benefits Opportunity Cost

Learning Objectives Interpret the difference between scarcity and Shortage Analyze different business models Build Connections to your life

Scarcity vs. Shortage Scarcity: Limited Quantities of resources to meet unlimited Wants Shortage: Producers cannot offer goods and services at current prices How does the availability of a good and service impact price? Do things become more or less Expensive? If you are the one selling the good or service, is it advantageous or disadvantageous to have a Scarcity? Why?

Experiment: The Chips Experiment Each student has 10 dollars There are 35 Bags of Chips available 1 Bag of Chips=$3.00 You can only buy 1 Bag of Chips in the first Round There will be More “Purchasing Rounds” after the First Round

Check for Understanding What does this experiment tell you about how availability, scarcity, and shortages impact pricing? What does this experiment tell you about how companies like Walmart, McDonalds, Costco, and Burger King make all their money?

Walmart, Costco, Burger King, Mcdonalds Get goods at a low Price due to buying in Bulk Buying in Bulk=Lower price When they sell their goods they are able to sell for less money Selling Goods at Less Money=More Customers More Customers=More Money

Thinking Question Why do some businesses not follow this economic Model. What are advantages of not following the “Walmart Economic Model”?

Costs versus Benefits Costs: what you spend in Money, Time, effort, or other sacrifices you make Benefits: What you gain from something in terms of money, time, experience, or other improvements Costs versus Benefits Principle: People Choose Something when the benefits of doing so are greater than the costs

Analyzing Costs and Benefits Think about a time when you decided to do one thing over another (studying, Sleeping, Exercising, Working, etc.) Figure out why you made the decision that you did by writing the decision, and then under the decision list the costs and benefits of the decision You must have at least 5 Costs and Benefits Based on Your cost-Benefit Analysis, did you make the right decision? Why or why Not?

Textbook Example of Cost-benefit Analysis

Does the study of Economics relate to your life? Explain how it could Wrap-Up Does the study of Economics relate to your life? Explain how it could