Microeconomics and the Georgia Performance Standards Mike Raymer Program Manager Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education “I hope I die during a workshop because the transition from life to death would be so subtle.” -Anonymous Teacher Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education The Mission To help teachers teach those students, K-12, in the public and independent schools of Georgia Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education The Vision Students leaving school prepared for their roles as: Productive Workers Informed Consumers Involved Citizens Prudent Savers Wise Investors Sound lifelong decision makers in a globally interdependent world Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education EOCT Pass Rates S2004 W2004 S2005 W2005 S 2006 W2006 S 2007 W2007 S 2008 W2008 S2009 9th Grade Lit 77 79 81 60 66 68 67 73 74 76 Amer Lit 89 93 94 82 80 84 83 86 Alge 63 57 65 56 55 40 Geom 59 61 51 47 Phys Sci 54 62 64 Bio 75 78 50 52 58 U.S. Hist 72 71 48 49 Econ 44 70 Georgia Council on Economic Education w w w . g c e e . o r g
Economics Test Data Trend Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Research Findings Will using the activities presented in this workshop help student EOCT scores? …I sure hope so. Georgia Council on Economic Education w w w . g c e e . o r g 7
Georgia Council on Economic Education Workshop Impact Non-AP Economics Students Score Higher on the High School Economics EOCT When Their Teachers Have Taken GCEE Workshops (2004-2006 EOCT Exams – Five Testing Cycles) DOE Scaled Score 7.7% gain 2.9% gain Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Pacing Georgia Council on Economic Education w w w . g c e e . o r g
Domain Performance for the 2008-2009 EOCT Weight Number of Items Avg. Correct Fall Spring % Correct Fall Spring Fundamental 2 weeks 20.5% 14 7.8 8.3 56% 59% Micro 4 weeks 22% 15 8.6 8.7 57% 58% Macro 5 weeks 7.6 7.7 54% 55% International 18% 12 6.7 7.1 Personal Finance 19% 13 8.2 63% 64% Handout Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education GPS Performance standards provide clear expectations for instruction, assessment, and student work. They define the level of work that demonstrates achievement of the standards, enabling a teacher to know “how good is good enough.” (www.georgiastandards.org) Handout Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Domain Focus SSEMI1 The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Domain Focus SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy. Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Domain Focus SSEMI3 The student will explain how markets, prices, and competition influence economic behavior. Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Domain Focus SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy. Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education The “Must Haves” Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Circular Flow Diagram Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education …continued Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Supply and Demand Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Equilibrium Price Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Change in Demand Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Change in Supply Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Price Floors Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Price Ceilings Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Questions so far? Georgia Council on Economic Education w w w . g c e e . o r g
Supply and Demand Curves- Georgia Council on Economic Education friend or foe? Georgia Council on Economic Education w w w . g c e e . o r g
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Simulation #1- drawing your own curve Georgia Council on Economic Education w w w . g c e e . o r g
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Georgia Council on Economic Education Reasons for Change in… Demand Consumer income/wealth Consumer tastes and preferences (advertising) Change in the price of substitute goods Change in the price of complementary goods Change in expectations Change in number of consumers Supply Cost of inputs Productivity Technology Taxes and Subsidies Expectations Government regulations Change in the number of sellers Weather/natural disasters Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education w w w . g c e e . o r g
Teaching Tools for MICROECONOMICS from John Stossel Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education What You Get… 16 Video Clips Instructor’s Manual Segment Description Preview Question Discussion and Analysis Questions Extension Activities Multiple-Choice Questions Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Clip 5- Rent Control SSEMI2 SSEMI3 Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Economic Mystery Where Did the Mortgages Go? Georgia Council on Economic Education w w w . g c e e . o r g
Demonstration Lesson #1 Price Controls- Too High or Too Low? (Focus: High School Economics) Georgia Council on Economic Education w w w . g c e e . o r g
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Georgia Council on Economic Education Clip 3- Greed SSEMI 4 Georgia Council on Economic Education w w w . g c e e . o r g
Demonstration Lesson #2 The Economic Effects of 19th Century Monopoly (United States History: Eyes on the Economy) Georgia Council on Economic Education w w w . g c e e . o r g
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Perfect/Pure Competition Georgia Council on Economic Education w w w . g c e e . o r g
Monopolistic Competition Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Oligopoly Georgia Council on Economic Education w w w . g c e e . o r g
An Economic Education Case Study Georgia Council on Economic Education The tlanta Braves An Economic Education Case Study Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education What You Get… 10 Lessons Lesson Objectives Lesson Overview Classroom Procedures *GPS Correlation Handout Georgia Council on Economic Education w w w . g c e e . o r g
Demonstration Lesson #3 Building a Team- The Braves as a Creative Enterprise SSEMI1 Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Any Questions? Georgia Council on Economic Education w w w . g c e e . o r g
Simulation #2-Your Guide to Having Fun With Elasticity Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Demand Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Demand Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Demand Can the purchase be delayed? Are adequate substitutes available? Does the purchase use a large portion of income? Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Supply What You Will Need- Plenty of paper (recycled is fine) Staplers Pens Paper clips Rulers Understanding administrators Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Show the Graphs Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Supply Can a firm adjust quickly to new prices? If yes, supply is likely to be elastic. Georgia Council on Economic Education w w w . g c e e . o r g
Price Elasticity of Supply Can a firm adjust quickly to new prices? If no, supply is likely to be inelastic. Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education Lesson Ideas for the GPS Handout Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education www.gcee.org Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education www.georgiacouncil.blogspot.com Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education facebook Georgia Council on Economic Education w w w . g c e e . o r g
Georgia Council on Economic Education w w w . g c e e . o r g