Standard 12.1.1 Examine the casual relationship between scarcity and the need for choices . What is Economics?, Day 2 Week: What is Economics? - Week 1 Directions: Create a graphic organizer like the one below on Thursday of your Bellwork. Fill in the outer circles with ideas you might have about economics. There should be little to no talking during the Bellwork. Take our your syllabus, textbooks, and spiral notebooks. I’m going to call you up to collect them in 30 minutes.

What is economics? Economics is all around us, but can be difficult to describe. There is no single, easy definition for economics. One good definition is: Economics is the study of how people choose to use their resources. Another good definition is: Economics is the study of making choices. And the most detailed answer would be: Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires. Example: You have $5. What will you do with it? That’s economics.

How to create a Table of Contents in your spiral notebook Open up the spiral notebook you want to use for the next 3 weeks. Turn to the first page of lined paper. On the top line of the first sheet of lined paper, write “Creating a Nation: Table of Contents” Under that heading you are going to keep a list of assignments we complete in our spiral notebooks. For the first assignment, write: “1. Timeline of Your Life” Turn to the next fresh page. Don’t write on the back page of the Table of Contents. This is where assignment #1 will go. Write a big “#1” in the top right corner of the paper and write “Timeline of Your Life” on the top line of the paper.

Take out your syllabus. Make sure the entire bottom part of page 3 is filled out, then cut it out.

Take out your two spiral notebooks. When I call you up, please have your spiral notebooks and syllabus strip ready.

Assignment 1: Timeline of Your Life Turn your notebook sideways and fold the paper in half (hot dog style). Draw a line across the fold. Label the line as if it was a time line, starting with the year of your birth (1993?) to today (2009). Your assignment: Come up with at least eight of the most important events from your life and label them on the timeline. You can have more. These events can include things such as birthday, day you started high school, quinceanera, first car, first time you did something you loved, first boyfriend/girlfriend… whatever you want. They should be the eight most important events from your life so far.

October, 1999 Climbed Half Dome in Yosemite. June, 2007 Got a job teaching seventh grade at River Heights August, 1995 I entered Corona Fundamental Intermediate School June, 2001 Graduated high school July 18, 1983 I was born in Anaheim, California June, 2006 Graduated from UCR _______________________________________________________________________ 1990 1983 1996 2003 2009 December 14, 1984 Unfortunately, my sister Bekah was born. June, 1995 Graduated from Lincoln Alternative School September, 1997 I entered Santiago High School. June 22, 2003 Married Mrs. Robinson 1999 I got my first car (1981 Chevy Cavalier) 1996 Climbed my first mountain (Mt. San Jacinto) September, 2009 Accepted a new position teaching 11th and 12th grade at Roosevelt.

Your Personal History You are going to write me a five paragraph essay about your life on a separate sheet of paper. The essay should include: 1 paragraph introduction, 3 body paragraphs, and 1 conclusion paragraph. You will spend the remainder of the period working on this. Remember, in this class we’ll be studying important events as well as the broad picture of long periods of time. You should tell me your story the same way! Use your timeline as a reference. Give me a broad picture of your life. When were you born? Where? Where did you grow up? Tell me about your family. What elementary school are you coming from? What are some of your hobbies? Be sure to include important specifics about your life. What do you think some of the most important events of your life are? What you don’t finish in class is homework, so get to work!

Assignment 2: Phocabulary Phocabulary means Photo-vocabulary. Fold your paper in half, Cornell note style. You are going to be choosing ten of the following words, defining them, and drawing a picture to represent each term. The terms can be found on page 3 – 6. Words: need, want, economics, goods, services, scarcity, shortage, factors of production, land, labor, capital, physical capital, human capital, and entrepreneur. Whatever you do not finish today is homework.