Welcome to IB/AP Economics

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Presentation transcript:

Welcome to IB/AP Economics On your 4x6 card please provide the following: Name Summer activity Why taking Econ? Something unique about you

What is Economics??? Brainstorm Activity

Studying economics. . . Some completely new ideas Sometimes looking at familiar things from a different perspective, Paradigm Shift.

This is just like AP ECON!! Why?

If you don’t see the cow, don’t leave the room! The Cow Analogy 1. What happened in each of the five rounds? Round 1: Few people get it right away Round 2: More get it after some direct instruction Round 3: Questions help us move forward Round 4: Nearly all people get it when shown explicitly (but some still don’t get it). Round 5: EVERYONE gets it when we work together. 2. What is your responsibility if you see the cow? 3. What kind of student will not see the cow? If you don’t see the cow, don’t leave the room!

Tariff - Domestic Impact Gov. Revenue S domestic 1 Price P1 5 P3 4 S Tariff 3 2 S world P2 D A B Q0 C W Quantity

Closure…. What is economics? Success in this class will require: Scarcity, choice, opportunity cost, incentives Success in this class will require: Effort Successful attitude Other. . . Homework: Examples of opportunity cost due next class.