Objective: MACROECONOMIC MODELS AND FISCAL POLICY 1. Warm up—Explain the crowding out effect of government deficit spending. 2. Fiscal policy reviewed 3. A couple homework problems reviewed 4. Test info 5. In the news

Objective: Business and ESLR: Critical thinkers 1. Warm up—Why do many businesses choose to incorporate? 2. Economics USA: The Firm (video, notes) 3. (p , 20, 21) 4. Making a Profit (worksheet) Complete Making a Profit (worksheet) for HOMEWORK

Objective: Chapter 7: Immigration and the growth of cities 1. Warm up—Why were fires such a threat in industrial age cities? 2. Chapter 7 summary 3. Chapter 7 assessment

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Objective: MACROECONOMIC MODELS AND FISCAL POLICY 1. Warm up—What does it mean to say “aggregate demand,” as a opposed to just demand? 2. Unit 3 Exam 3. In the news

 Warms ups  Notes (video)  Chapter 9,10,11 hw  Review worksheet

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—What makes the cost of labor for some products greater than that of others? 2. Labor (reading, questions, discussion) 3. Labor notes 4. Review Making a Profit (worksheet)

Objective: Chapter 7: Immigration and the growth of cities 1. Warm up—What was the spoils system? 2. Review Chapter 7 assessment and more 3. Main Idea questions 6-8 on page Quiz tomorrow on chapter 7 HOMEWORK: Critical Thinking page 272 #1

Objective: MACROECONOMIC MODELS AND FISCAL POLICY 1. Warm up—Examine daily life in an open economy versus a closed economy. How is life different in a global economy? 2. Job news 3. Local crises in a global world: side effects 4. Video, notes, discussion Read chapter 12 for Monday

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—Examine daily life in an global economy. What are some advantages and disadvantages of the free movement of goods and people? 2. Job news 3. Local crises in a global world: side effects 4. Video, notes, discussion 5. Review Profit worksheet

Objective: Chapter 7: Immigration and the growth of cities 1. Warm up—What was is civil service? 2. Exam on Chapter 7 3. A look at ebola

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—What is money? What are the functions of money? 2. Economic relationships 3. Topic A: Money, banking, and financial markets

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—Who is included in the labor force? 2. Unemployment (pages reading) 3. Questions Secret History of the Credit Card (video, notes, questions)

Objective: Life at the Turn of the Century 1. Warm up—What is segregation? 2. Chapter 8 (reading, handouts, discussion) 3. A look at ebola

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Answer question 4 on page Topic A: Money, banking, and financial markets 3. A bank’s balance sheet 4. Page (3)

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—List the 4 types of unemployment. Which is most easily to avoid? 2. Unemployment (page ) 3. Secret History of the Credit Card (video, notes, questions)

Objective: Life at the Turn of the Century 1. Warm up—How did education in America change at the turn of the century? 2. Chapter 8 (Section 3 and 4 reading and questions) 3. Complete Chapter 8 worksheet. 4. Discussion

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—What is the Federal Reserve Bank? 2. Answer question 3 on page A bank’s balance sheet 4. Banking and the economy: Economics USA

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—Consider an economy where 127 million people are employed and 8 million people are unemployed. What is the unemployment rate? 2. Secret History of the Credit Card (video, notes, questions) conclusion 3. Credit cards and the economy: breaking it down. 4. Review/Moving on

Complete the following with a partner: 1. List 3 advantages of credit cards to the consumer 2. List 3 disadvantages of credit cards to the consumer 3. List 2 advantages of credit cards to businesses 4. List 2 disadvantages of credit cards to businesses 5. Are credit cards good for the economy?

Objective: Life at the Turn of the Century 1. Warm up—What years are we talking about when we say the turn of the century? 2. Review Chapter 8 questions and worksheet. 3. The Century: Seeds of Change (video, notes)

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—What is open-market operations? 2. Banking and the economy: Economics USA (video, notes, questions) 3. A bank’s balance sheet (reviewed) 4. Money creation

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—Consider an economy where 95 million people are employed and 5 million people are unemployed. What is the unemployment rate? 2. Advantages and disadvantaged of Credit Card (review) 3. Quiz info 4. Reading

 Advantages and disadvantages of different business organizations (sole proprietorships, partnerships, and corporations)  What is liability?  Advantages and disadvantages of credit cards  Review questions on scarcity, production possibilities, and supply and demand

Objective: Life at the Turn of the Century 1. Warm up—What is lynching? 2. Two views of America 3. Lynching (a reading, discussion and video) 4. Witness to lynching ( 5. Moving pictures? Lillian Gish and The Birth of a Nation (reading, discussion and video

Imagine you are travelling through a Southern town in When you stop to rest, you notice a large gathering of men in the process of lynching a man. Write a paragraph on what you witness, how you feel, and what you do.

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—What is the reserve requirement? 2. Spending, money and interest 3. Fed practice 4. Money creation and a bank’s balance sheet (reviewed) 5. Morocco’s Mule Ladies Homework: chapter 13 (4, 6-10,13)

Objective: Business and Labor ESLR: Critical thinkers 1. Warm up—The nation of Nzerdifus has 200 workers. Doodle Dandy Inc., its larger employer, lays off ten workers. 40 Nzerdifians were already looking for work. The unemployment rate has changed from ___% to ___%. 2. Quiz 3. Who is Malala? OR Morocco’s Mule Ladies

Objective: Life at the Turn of the Century 1. Warm up—Solve it 2. Chapter 8 Assessment p Terms and names Critical Thinking 1 3. Moving pictures? Lillian Gish and The Birth of a Nation and The Great Train Robbery (reading, discussion and video)

1. _ _ _ i _ An island of immigrants 2. _ _ _ o _ _ _ _ _ _ _ _ o _ After the war 3. _ _ _ e _ _ _ _ To assimilate the Indians 4. _ _ _ e _ _ _ _ America’s pastime since the mid 18 th century 5. _ _ _ _ _ o _ _Connected east and west

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) Page 280 (1-13)

Objective: Business and Labor ESLR: Critical thinkers Page 308 (1-7)

Objective: Life at the Turn of the Century Page 338 (Terms and Names 1-10; Main Ideas 1-11)

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Calculate the money multiplier for the following reserve requirements: a) 10% b) 15% c) 22% 2. The Fed (quick review) 3. The Fed today 4. You’re the Fed

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—What are intermediate goods? 2. GDP (reading and questions) 3. GDP (details and notes) 4. Economics USA: Measuring national income (video and notes)

Objective: The Progressive Era 1. Warm up—What was prohibition? 2. Origins of Progressivism (reading and questions) 3. Women in Public Life 4. Teddy Roosevelt (video and notes)

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Calculate the reserve requirement for the following money multipliers: a) 2.25 b) 3.1 c) You’re the Fed (review items 1-3; complete worksheet) 3. The Fed and 9-11

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—What intermediate good is used in the production of ollygoggles? 2. GDP (details and notes) 3. GDP Worksheet 4. Economics USA: Measuring national income (video and notes)

Objective: The Progressive Era 1. Warm up—Explain 1 goal of the Progressive movement. 2. Chapter 9 summary continued (questions 3, 4 and 5) 3. Teddy Roosevelt (reading, video and notes) 4. Questions on TR. Page 325 #2

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Explain the Fed’s concerns during the attack on September Exam info 3. A bank’s balance sheet 4. The Fed reviewed 5. Homework review

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—What are durable goods? Give an example. 2. Pop quiz!!! 3. GDP (reviewed) 4. GDP Worksheet reviewed 5. Economics USA: Measuring national income (video and notes)

Objective: The Progressive Era 1. Warm up—Who were the Rough Riders? 2. Homework check (Page 325 #2) 3. Progressivism (a brochure) Chapter 9 Make a three fold brochure of the Progressive Era. Include the goals of Progressivism, the major policies of Roosevelt, Taft, and Wilson. Also include information about Women’s suffrage and prohibition movements.

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—What is Fractional Reserve Banking? 2. A bank’s balance sheet (an exercise) 3. The Fed reviewed (worksheet) 4. A few homework items 5. History of the Fed (video, notes)

1. Step one: Create a balance sheet for a bank that has $210,000 in deposits, $33,000 in stocks, $11,000 in bonds, $21,000 in real estate, and $20,000 in loans with a reserve ratio of Step two: Show what happens when $28,000 is deposited 3. Step three: Show what happens the Fed conducts open-market operations of $10,000 to contract the money-supply. 4. Step four: Show what happens when $30,000 is now withdrawn. 5. Step five: Show what happens when $42,000 is deposited AND the Fed decides to further contract the supply of money by raising the reserve requirement.25.

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Give three examples of services counted in GDP. 2. GDP quiz and worksheet reviewed 3. Economics USA: Measuring national income (video and notes) 4. Business cycle and GDP (p , 6)

Objective: The Progressive Era 1. Warm up—Who were the presidents before and after Theodore Roosevelt? 2. Complete Progressivism brochure Make a three fold brochure of the Progressive Era. Include the goals of Progressivism, the major policies of Roosevelt, Taft, and Wilson. Also include information about Women’s suffrage and prohibition movements.

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Explain how the supply of money influences interest rates. 2. The Fed reviewed. (notes, problems, questions) 3. History of the Fed (video, notes)

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—When calculating GDP, what does Investment include? 2. Business cycle, economic downturns and GDP (reading, notes) p The circular flow of payments 4. Economics USA (video, notes) HOMEWORK: Find an article online about the economy. Summarize it in three paragraphs.

 Increase in business and personal bankruptcy  Fewer jobs  More unemployment  Increase in inventories  Fewer incomes received  Less spending  Increase in government spending/services  Stock market decline  Less investment  Decline in trade  Durable goods sales decline  Overall decline in GDP

Objective: Imperialism and America 1. Warm up—What is Imperialism? 2. Turn in Progressivism brochure 3. Reading page Vocabulary and questions (p345 1 and 3) 5. Roots of Imperialism (p345 2) HOMEWORK: page 368 Main Ideas 1-2

Objective: MONEY, BANKING, AND MONETARY POLICY (Financial Sector) 1. Warm up—Why is stagflation a special problem for the Fed? 2. Unit 4 Exam

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—When calculating GDP, what does Government include? 2. Business cycle reviewed 3. Economic relationships (worksheet) 4. Economics USA (video, notes) HOMEWORK: Find an article online about the economy. Summarize it in three paragraphs.

 Increase in business and personal bankruptcy  Fewer jobs  More unemployment  Increase in inventories  Fewer incomes received  Less spending  Increase in government spending/services  Stock market decline  Less investment  Decline in trade  Durable goods sales decline  Overall decline in GDP

Objective: Imperialism and America 1. Warm up—What islands are located on the Caribbean Sea? 2. HOMEWORK CHECK: page 368 Main Ideas Roots of Imperialism (p345 2) 4. Spanish American War (p346, outline, video, notes)

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Outline the stages of the business cycle. 2. Unit 5 intro (text, discussion) 3. Inside job: The film that cost $20 trillion dollars to make (video, notes) Read Unit 5 topic A

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Explain five effects of increased consumer and business spending on the economy. 2. GDP two country comparison—step 1

 More incomes received  More jobs  Less unemployment  Improved living standards  Increase in overall production  More overall savings  Greater investment  Increase in GDP

Choose two nations in world. One from Europe and another from Africa, Asia, or Latin America. Collect the following data on these nations: Real GDP GDP per capita Location Major cities Major industries Major trading partner Currency % of the economy that is industry, agriculture and services % of land that is arable Urban population Energy consumption Population Literacy rate Birth rate Death rate Infant mortality rate Life expectancy Educational expenditures as a % of GDP Population per physician

Objective: Imperialism and America 1. Warm up—What product was the backbone of the Cuban economy? 2. Worksheets 3. Spanish American War (10.2 reading review) 4. Section quiz 5. Spanish American War (video, notes)

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Draw and explain the Philips curve. 2. Inside job: The film that cost $20 trillion dollars to make (video, notes) Read Unit 5 topic A

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—What does GDP per capita mean? 2. GDP two country comparison— complete step 1 3. Government taxing and spending (reading, notes, discussion, questions)

Choose two nations in world. One from Europe and another from Africa, Asia, or Latin America. Collect the following data on these nations: Real GDP GDP per capita Location Major cities Major industries Major trading partner Currency % of the economy that is industry, agriculture and services % of land that is arable Urban population Energy consumption Population Literacy rate Birth rate Death rate Infant mortality rate Life expectancy Educational expenditures as a % of GDP Population per physician

Objective: Imperialism and America 1. Warm up—What territories did the US gain after the war with Spain? 2. Acquiring New lands (summary review) 3. Geography activity 4. Spanish American War (video, notes) HOMEWORK: Complete questions 1-4 on Chapter Summary worksheet

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—The film Inside Job exposes many fallacies about financial markets prior to the 2008 meltdown. Explain one of these fallacies. 2. The conclusion of Inside job: The film that cost $20 trillion dollars to make (video, notes) Homework: step 1) Read the article “Rational Irrationality.” step 2) Summarize the key points— you should have about 20. step 3) Write two solid paragraphs drawing conclusions about the inherent stability or instability of markets.

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—What does a nation’s literacy rate tell us? 2. Government taxing and spending (reading, notes, discussion, questions) 3. GDP two country comparison—making sense of the data 4. Step 2

Objective: Imperialism and America 1. Warm up—Why did Theodore Roosevelt send the U.S. Naval fleet on a world tour? 2. Review homework questions 1-4 on Chapter Summary worksheet 3. Chapter 10 Assessment questions (p368 Critical Thinking 1,2,3) 4. Spanish-American War video

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Develop two arguments. One for market regulation; another against market regulation. Explain which argument is more sound. 2. “Rational Irrationality” (discussion) 3. Chapter 15 questions (1, 2, 6, 8, 9) 4. Review See for an extra credit opportunity. NOTE: Extra credit will not be accepted from anyone who has not turned in the “rational irrationality” assignment.

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Why are wealthy nations more urban than poorer nations? 2. Government taxing and spending (reading, notes, discussion, questions) 3. GDP two country comparison—Step 2: making sense of the data. 4. Government fiscal policy.

 Create a compare and contrast sheet for each category with conclusions. 1.On a separate sheet of paper. List the category in question. (e.g. Life expectancy). 2.Make a statement about the differences between the data for the two nations (e.g. The average life expectancy in the United States is 30 years longer than in Chad.) 3.Draw a conclusion about why there is such a difference in the data for the two nations in question. You can easily use other data to support this. (e.g. The U.S. is a much more productive nation than Chad. Greater productivity means more output of food, health care, social services, etc.)

Objective: World War One 1. Warm up—What is nationalism? 2. Causes of war (reading and diagram) 3. A race to arms. (Video and notes) 4. Note review

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Draw and explain the Laffer Curve. 2. Discuss Ch. 15 questions (1, 2, 6, 8, 9) 3. Review 4. Chapter 16: Ingredients of Growth/Labor and productivity 5. Page 318 (1, 3) 6. Growth matters (p307)

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Outline the five components of GDP. Give a clear example of what is counted in each. (e.g. Imports include oil purchased from Saudi Arabia) 2. Government fiscal policy. (reading, notes, discussion, questions) 3. Complete GDP two country comparison. EXAM Friday

 Create a compare and contrast sheet for each category with conclusions. 1.On a separate sheet of paper. List the category in question. (e.g. Life expectancy). 2.Make a statement about the differences between the data for the two nations (e.g. The average life expectancy in the United States is 30 years longer than in Chad.) 3.Draw a conclusion about why there is such a difference in the data for the two nations in question. You can easily use other data to support this. (e.g. The U.S. is a much more productive nation than Chad. Greater productivity means more output of food, health care, social services, etc.)

Objective: World War One 1. Warm up—How did militarism contribute to war in Europe in 1914? 2. Causes of war (quick review) 3. Worksheet on Chapter 11 Section one. 4. A race to arms. (Video and notes) 23:55 HOMEWORK: Complete Ch. 11 Section 2 worksheet

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Explain the main ingredients in economic growth. Give an example of each. 2. Discuss Page 318 (1, 3) 3. Growth matters (p307) 4. Economics USA: Economic growth (video, notes)

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Outline the components of Investment 2. Complete GDP two country comparison paper info. 3. GDP review worksheet 4. Review Government fiscal policy. (reading, notes, discussion, questions) 5. Project work, question update. EXAM Friday

 Create a compare and contrast sheet for each category with conclusions. 1.On a separate sheet of paper. List the category in question. (e.g. Life expectancy). 2.Make a statement about the differences between the data for the two nations (e.g. The average life expectancy in the United States is 30 years longer than in Chad.) 3.Draw a conclusion about why there is such a difference in the data for the two nations in question. You can easily use other data to support this. (e.g. The U.S. is a much more productive nation than Chad. Greater productivity means more output of food, health care, social services, etc.)

Objective: World War One 1. Warm up—How did nationalism contribute to war in Europe in 1914? 2. Chapter 11 summary and questions 3. A race to arms. (Video and notes) 23:55\ 4. Worksheet on Chapter 11 review

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Explain the criticisms of the Laffer Curve? 2. Page 318 (5-9) 3. An explanation of the 1929 Depression (article, small groups, discussion)

Objective: Measuring Natio nal Income ESLR: Critical thinkers 1. Warm up—Why is savings not counted in GDP? 2. The multiplier effect 3. Project work, question update. EXAM Friday

 Marginal Propensities to Consume and Save (Marginal, meaning additional; Propensity, meaning, the likelihood)  Marginal Propensity to Consume (MPC): how much of each dollar added to the economy will be spent on goods and services.  Marginal Propensity to Save (MPS): how much of each dollar added to the economy will not be spent on goods and services. It will be saved  Thus, MPC+MPS=1

Because all spending is income, which in turn becomes spending, we can use the MPC and MPS to calculate how much additional spending will result from any initial injection of spending in the economy.

For example: If the Federal Government buys a $10,000,000 fighter jet, the company will use that $10,000,000 to pay salaries, buy equipment etc. Those incomes will in turn be spent on the needs of employees and suppliers and so on. If we know that.8 of every dollar will be spent, we can calculate how much additional spending will result from this $10,000,000.

1 MULTIPLIER= MPC

1. Explain the effect of $25 billion in additional government spending with an MPC of 80%. 2. Explain the effect of $50 billion reduction in government spending with an MPC of 75%. 3. Explain the effect of $275 billion additional spending in the economy with a MPC of 60% 4. Explain the effect of rising unemployment that accounts for a $125 billion reduction in household incomes with a MPC of 66%. 5. Explain the effect of $75 billion in additional unemployment benefits with a MPC of 90%.

Objective: World War One 1. Warm up—Who made up the alliances of WWI? 2. Chapter 11 summary and questions review 3. The Century (Video) Take notes. When we stop the video every 5 minutes. Ask a key question from the portion we just watched. 4. Review key questions from Video. OPEN BOOK TEST ON CHAPTER 11 FRIDAY

Objective: LONG RUN MACROECONOMIC DEBATES 1. Warm up—Examine the economics of Halloween. 2. If you did the extra credit, turn it in now. 3. An explanation of the 1929 Depression (article, small groups, discussion) 4. Making sense of the article (groups)

Objective: Measuring National Income ESLR: Critical thinkers 1. Warm up—Examine the economics of Halloween. 2. GDP Exam 3. Economics USA: John Maynard Keynes 4. Project work, question update. DON’T FORGET: GDP Comparison project is due Wednesday, November 5, 2014 at the beginning of class.

Objective: World War One 1. Warm up—Why did the U.S. finally go to war in Europe in 1917? 2. Chapter 11 Open Book Exam 3. The Century (Video) Take notes. When we stop the video every 5 minutes. Ask a key question from the portion we just watched. 4. Review key questions from Video.