ECONOMICS: October 26 Warm-up: Poverty Guidelines (class set HO) See, Think, Wonder Economics Learning Target #1 In order to understand how to measure.

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ECONOMICS: October 26 Warm-up: Poverty Guidelines (class set HO) See, Think, Wonder Economics Learning Target #1 In order to understand how to measure the economic and social well-being of the U.S., I will be able to evaluate the impact of poverty. I will know I have it when I can: (1) explain poverty thresholds; (2) discuss the major factors that contribute to poverty; and (3) analyze information contained in a Lorenz Diagram. See Ch. 12, Lesson 3 Student Lecture Guide (HO from earlier) -income distribution and the Lorenz Curve Economics Learning Target #2 In order to understand the causes and consequences of instability in the U.S. economy, I will analyze the business cycle. I will know I have it when I can: (1) draw an appropriately labeled business cycle diagram, including the trend line; (2) list and explain several causes of the business cycle; and (3) know the typical duration of a recession. See Ch. 13, Lesson 1 Student Lecture Guide (HO) --business cycle terminology; business cycle diagram; business cycle causes, government steps to deal with economic instability Closure: What will likely happen to the poverty rate during a recession? Why? Assignment: read Ch. 13, Lesson 2; Ch. 12-13 Test is Wednesday