Friday November 7, 2014 Mr. Goblirsch – Economics

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Presentation transcript:

Friday November 7, 2014 Mr. Goblirsch – Economics OBJECTIVE – Students Will Be Able To – SWBAT: - Identify the stages of the business cycle. AGENDA: WARM-UP: Tax Day CONCEPT: Business Cycle ARTICLE: “How ‘GOP’ Congress could boost US economy” Finish GDP Data Graph – Glue in your notebook Collect Notebooks *****Notebook Check TODAY***** Tax Day WARM-UP: (Follow the directions below) ***5 minutes*** Take out your Weekly Time Sheet. Calculate your tax deduction. STEP 1: Gross Pay (Total of Weekly Pay) X Tax % = Amount of Taxes STEP 2: Gross Pay (Total of Weekly Pay) – Amount of Taxes = Net Pay (Weekly Deposit) Make your weekly deposit in your Account. (Have it stamped)

Business Cycle Chapter 12 Section 3

Phases of the Business Cycle Expansion = economic growth Peak - the high point of expansion Contraction = economic growth slows/declines *unemployment usually rises Trough - the lowest point of contraction Recession, Depression, Stagnation A) recession—prolonged economic contraction B) depression—deep, long lasting recession C) stagflation—a decline in real GDP combined with a rise in inflation

What Keeps a Business Cycle Going? 1) Business investment invest in expansion, or… slow down to meet falling demand 2) Interest rates and credit can encourage or discourage borrowing & investment 3) Consumer expectations how will the economy be in the future? 4) External shocks oil production and prices natural disasters

Leading economic indicators - stock market - interest rates - housing starts (building permits) - changes in inventories - new orders for consumer goods

CURRENT EVENTS ARTICLE Read the Article with your group: Discuss the option outlined in your article Poll your group on whether you feel it is a good option or not. Divide your group into supporters and opposition. Each side will write a brief statement on why they are for or against the option.