Welcome Back! Class of 2014!

Welcome Back Economics is a required course for graduation. A great economist once said that Economics is “the study of mankind in the ordinary business of life.”

Course Outline Teacher Mr. Laury

My Job To provide a positive learning environment for my students To not only teach students Economics but to introduce students with the tools necessary to succeed in life.

Course Outline  Course Description & Objectives  Course Materials  Grading  Late Work  Absences & Tardiness

Do & Don't Do Respect: yourself, your classmates and your teacher Encourage, support, and help your classmates Participate in lessons and discussions Ask questions !!!!!!! Ask for help !!!!!!!!! Follow rules and regulations found in the student handbook Do Not Utilize personal electronic devices in class (unless I authorize it and only class related) Sleep during class Speak out of turn during lesson or discussion Get out of seat during lesson or discussion Horseplay

Policy & Procedures Talking : –When speaking speak a low volume –Do not speak during teachers lesson unless called upon. –Raise your hand before asking questions or making a comment. –Use appropriate language. Seating: –Remain seated unless –Never leave your seat while the teacher is in the middle of a lesson or giving instruction. –One seat per student. Bathroom: –Go before class –If you have to go please take the pass and go. – Ensure that you are gone no longer than 5 minutes.

Bullying: –Do not bully or tease your peers. This is a positive environment. Horseplay: –No throwing things –Keep Your hands to yourself Policy & Procedures

Emergencies Please exit to the right and out the nearest door. We will meet in the parking lot. In case of lockdown, stay in your seat and follow my instructions.

Discipline Plan Verbal re-direction Student-teacher conferences Verbal warnings Re-Seating Parental / guardian contact Contact with other members of faculty and staff Tickets Suspension of privileges Office referrals Parent/Guardian conference

The Challenge To come to class everyday with a positive attitude and to put forth a maximum effort. To have fun while remaining on task and learning.

Tell me about you On the index card: Name: Parent or Guardian’s name and best number to reach them: What are your future plans? Two things you want me to know about you?

notes.org/Economics/Macro_Economics/O utlines/Macroeconomics_15th_Edition_Tex tbook

Studying Economics will help us in our daily lives.

So, what is Economics? The dictionary definition of Economics is that Economics is the study of the production, distribution, and consumption of goods and services. But Economics is much more than that.

Here’s a clue: No matter how much money we have, we always want more. Yes, we always want more.

Why do we always want more? Economists believe in a concept called scarcity. Scarcity is the idea that our resources are limited but our wants and desires are unlimited. Think about it. Twenty dollars can buy many different goods. Is there only one item you want? Or would you like more?

We have so many options but we must choose. We cannot have everything.

Scarcity To think like an Economist, you must always remember that scarcity exists. You may only have ten dollars in your pocket but you can certainly think of a hundred different ways to spend it.

So, how do we choose?

Economics Can Help As we study Economics, we begin to understand that we must make choices. We begin to understand that we cannot have everything we need or want. We begin to understand that with every choice, there is a cost.

If we choose to live near the ocean, we are more likely to experience flooding.

Every Choice Has Its Cost Economists also teach us that every choice we make has its cost. In other words, every time we get something, we give something else up. There is no such thing as a free lunch.

If we surf the waves, we may break our legs. Even fun activities have their costs.

It’s all about making choices and knowing the costs of those choices.

Questions for Reflection Define Economics. Why must people make choices? Define scarcity. Why do our choices cost us? Define cost. Why is Economics a required course for graduation?