Economics Bell Work: What is the difference between microeconomics and macroeconomics?

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Presentation transcript:

Economics Bell Work: What is the difference between microeconomics and macroeconomics?

What is economics? Review from yesterday: Definition: the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind

Yesterday… We listed some of the reasons why we analyze economics and how they relate to these things. How many of them can you remember??? –Without looking at your notes…

Economic Factors What factors control the economy??? On your own write down as many different factors that affect/control the economy (think big and small) Now team up with one or two other people and make one BIG list of factors that affect the economy. Finally, lets make one big class list…everyone should have the same list by the end of class.

Our class list (period 1) Natural Disaster (weather) Media Tourism People (us) China Healthcare Oil (gas prices) Terrorism Drugs (substance abuse) Taxes Currencies Stocks Agriculture Population (overpopulation) Crime Housing Charities Construction Military Homelessness Unemployment Transportation Hospitals Real Estate Welfare Businesses Loans Import/Exports Global Warming

Our Class List (Period 4)

Your assignment… Write me one ½ page describing what it would be like if you did not have to worry about money. (ahhh wouldn’t that be nice?)