Entrance Ticket Group the following items into two common groups: -Left -Conservative -Liberal -Right -Democrats -Republicans -Bernie Sanders -Donald Trump -The Creators of the SpentTM Game

Agenda 1) Go Over Tax Policies / Political Compass 2) New Essential Question 3) Notes 4) In-Class Research 5) HW

Taxes and the Political Compass JULIO

New Essential Question

***New Essential Question*** How do I know when the economy is doing well?

Notes

Think – Pair - Share What were the major topics we covered in Microeconomics? What topics do you predict we will study in Macroeconomics?

Microeconomics vs Macroeconomics Studying one tree Studying the whole forest

How do you measure the size of the forest? In Macroeconomics, we examine large economies that range from a city or town to the entire globe How can we compare the size of said economies? Gross Domestic Product (GDP)

Key Terms GDP (Gross Domestic Product): The market value of all final goods and services produced in an economy in one year Goods: Something that you can use or consume, like food or CDs Services: Something that someone does for you, like give you a haircut

In-Class Research

Economics Graphic Analysis Use the GDP maps provided and the GDP rankings available from the world bank (google: “world bank gdp ranking”) to answer the assigned questions Goal: To train you to read graphics/charts and to allow you to see how GDP numbers are useful for making comparisons

HW

HW: Goods/Services PPT Now that you know what goods and services are, create 2 (TWO) PPT slides On the first slide, include 5 images of GOODS On the second slide, include 5 images of SERVICES Share with Julio (That’s it!)