1. UNIT IV. MONEY, BANKING, AND MONETARY POLICY (Financial Sector) Objective: Students will examine how the Fed conducts monetary policy in order to ensure a stable dollar and economy. 1. Warm up—What is monetary policy? 2. Key terms/concepts Vocabulary Knowledge rating sheet. 3. How the Fed affects the economy 4. The Fed Today

2. 1. Fill in the “what I think it means” section of your worksheet for these terms only: ◦ Federal Reserve notes ◦ M1 ◦ M2 ◦ Money as debt ◦ Balance sheet ◦ Assets ◦ Liabilities ◦ Deposits 2. Now rate your level of confidence about what you know for each term.

3. Objective: Students will examine how economists measure national income and its components. 1. Warm up—Explain one element of a healthy economy. 2. GDP per capita: GDP/population 3. The GDP booklet 4. Inequality for all (video, notes, discussion)

4. Each student will make a 4-page booklet on GDP: The 2-nation comparison. Use the following pages: 1. GDP defined. The components explained. What’s counted, what’s not counted. Including a paragraph explaining the info 2. 2 diagrams explained: a) The business cycle; b) the circular flow of payments. Including a paragraph about how these diagrams relate to GDP. 3. Country A (choose a country from Europe or Asia) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth date, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph) 4. Country B (choose a country from South America or Africa) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth date, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph)

5. Objective: Students will the expansion of the United States as an Imperial power around the world. (Chapter 10) 1. Warm up—Why do nations seek colonies? 2. Chapter 10 Summary and the key ideas 1.Imperialism and America 2.The Spanish-American War 3.Acquiring new lands 4.America as a world power 3. Time to finish last week’s exam

6. UNIT IV. MONEY, BANKING, AND MONETARY POLICY (Financial Sector) Objective: Students will examine how the Fed conducts monetary policy in order to ensure a stable dollar and economy. 1. Warm up—Why is a stable currency essential to a healthy economy? 2. Practice with a partner. Exchange vocabulary rating sheets. Create a spoken sentences using three of the terms. Make a check on your partners sheet next to each term used correctly. 3. Vocabulary rating sheet 4. 3 policy options of the Fed (reviewed) 5. You’re the Fed!

7. 1. Fill in the “what I think it means” section of your worksheet for these terms only: ◦ Excess reserves (AKA available reserves) ◦ Reserve ratio ◦ Fractional reserve banking ◦ Money multiplier ◦ Interest 2. Now rate your level of confidence about what you know for each term.

8. Explain why each of these trends is problematic. Indicate the changes in overall spending, the supply of money (MS) and interest rates (IR) needed to counter these trends. (Use an arrow up for increase and an arrow down for decrease) 1. Durable good sales are down. Manufacturers fear massive layoffs. 2. Rapid growth in GDP leads. Inflation may be on the horizon. 3. Unplanned inventories are up. 4. Lower than normal unemployment has economic forecasters worried.

9. Objective: Students will examine how economists measure national income and its components. 1. Warm up—Why does unemployment reduce GDP? 2. The GDP booklet

10. Each student will make a 4-page booklet on GDP: The 2-nation comparison. Use the following pages: 1. GDP defined. The components explained. What’s counted, what’s not counted. Including a paragraph explaining the info 2. 2 diagrams explained: a) The business cycle; b) the circular flow of payments. Including a paragraph about how these diagrams relate to GDP. 3. Country A (choose a country from Europe or Asia) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth date, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph) 4. Country B (choose a country from South America or Africa) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth date, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph)

11. Objective: Students will the expansion of the United States as an Imperial power around the world. (Chapter 10) 1. Warm up—Teddy Roosevelt said, “speak softly and carry a big stick.” What does he mean? 2. Chapter 10 summary (reading) 3. An American involvement in the world booklet. Choose an American intervention, war or conflict from U.S. History between the years 1845-1916 1.Location (a map) and background: events that led up to the conflict 2.United States interests (real and perceived). Also, domestic opponents of the action, who were they and why were opposed? 3.Opponents abroad. What were their interests, goals? 4.Overall results, outcome and influence of the action. Include events that followed.

12. UNIT IV. MONEY, BANKING, AND MONETARY POLICY Objective: Students will examine how the Fed conducts monetary policy in order to ensure a stable dollar and economy. 1. Warm up—What are open-market operations? 2. Key terms/concepts: Vocabulary Knowledge rating sheet and practice. 3. Open and operating: The Federal Reserve Responds to September 11. (video, notes, discussion) 4. You’re the Fed!

13. 1. Fill in the “what I think it means” section of your worksheet for these terms only: ◦ Federal funds rate ◦ Discount rate ◦ Open-market operations ◦ Counter-cyclical policies ◦ Contractionary monetary policy ◦ Expansionary monetary policy 2. Now rate your level of confidence about what you know for each term.

14. Explain why each of these trends is problematic. Indicate the changes in overall spending, the supply of money (MS) and interest rates (IR) needed to counter these trends. (Use an arrow up for increase and an arrow down for decrease) 1. Durable good sales are down. Manufacturers fear massive layoffs. 2. Rapid growth in GDP leads many to fear Inflation may be on the horizon. 3. Unplanned inventories are up. 4. Lower than normal unemployment has economic forecasters worried.

15. Objective: Students will examine how economists measure national income and its components. 1. Warm up—What is a downturn in the business cycle called? 2. Vocabulary self-rating worksheet 3. The GDP booklet 4. Inflation: reading, questions, discussion

16. Each student will make a 4-page booklet on GDP: The 2-nation comparison. Use the following pages: 1. GDP defined. The components explained. What’s counted, what’s not counted. Including a paragraph explaining the info 2. 2 diagrams explained: a) The business cycle; b) the circular flow of payments. Including a paragraph about how these diagrams relate to GDP. 3. Country A (choose a country from Europe or Asia) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph) 4. Country B (choose a country from South America or Africa) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph)

17. Objective: Students will the expansion of the United States as an Imperial power around the world. (Chapter 10) 1. Warm up—Why did many political and business leaders at the turn of the Twentieth Century want a canal built in Panama? 2. An American involvement in the world booklet. Choose an American intervention, war or conflict from U.S. History between the years 1845-1916 1.Location (a map) and background: events that led up to the conflict 2.United States interests (real and perceived). Also, domestic opponents of the action, who were they and why were opposed? 3.Opponents abroad. What were their interests, goals? 4.Overall results, outcome and influence of the action. Include events that followed.

18. UNIT IV. MONEY, BANKING, AND MONETARY POLICY Objective: Students will practice/review the key terms, concepts, & ideas in preparation for tomorrow’s Unit IV exam 1. Warm up—Draw and explain the diagram: How the Fed affects the economy. (5) 2. Quick review of diagram (5) 3. Practice with a partner; verbally exchange sentences using three of the terms. Be sure to keep a tally the terms that are used properly. (5) 4. Complete the Vocabulary Knowledge rating sheet (5) 5. Practice Exam in groups (10-15 questions) (20 minutes) 6. Review questions (15) Unit IV Exam tomorrow, Friday, Nov. 6

19.  Work in your groups  Answer the practice test questions  Note your group’s answer  Be sure to circle the terms on this practice you don’t understand

20. Objective: Students will examine how economists measure national income and its components. 1. Warm up—Why does the economy slowdown at times? 2. Complete side two of vocabulary self-rating worksheet 3. The GDP booklet 4. Inflation: reading, questions, discussion

21. Each student will make a 4-page booklet on GDP: The 2-nation comparison. Use the following pages: 1. GDP defined. The components explained. What’s counted, what’s not counted. Including a paragraph explaining the info 2. 2 diagrams explained: a) The business cycle; b) the circular flow of payments. Including a paragraph about how these diagrams relate to GDP. 3. Country A (choose a country from Europe or Asia) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph) 4. Country B (choose a country from South America or Africa) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph)

22. Objective: Students will the expansion of the United States as an Imperial power around the world. (Chapter 10) 1. Warm up—List three territories gained by the United States between 1845 and 1916. 2. An American involvement in the world booklet. (continued)

23. Choose an American intervention, war or conflict from U.S. History between the years 1845-1916 1.Location (a map) and background: events that led up to the conflict 2.United States interests (real and perceived). Also, domestic opponents of the action, who were they and why were opposed? 3.Opponents abroad. What were their interests, goals? 4.Overall results, outcome and influence of the action. Include events that followed.

24. UNIT IV. MONEY, BANKING, AND MONETARY POLICY (Financial Sector) Objective: Students will be assessed on their understanding of the money, banking and the monetary policy. 1. Warm up—What role do interest rates play in the economic growth? 2. Unit IV Exam

25. Objective: Students will examine how economists measure national income and its components. 1. Warm up—Why is Investment spending so important to employment? 2. Vocabulary self-rating worksheet review practice quiz 3. Inflation: reading, questions, discussion 4. The GDP booklet

26. Each student will make a 4-page booklet on GDP: The 2-nation comparison. Use the following pages: 1. GDP defined. The components explained. What’s counted, what’s not counted. Including a paragraph explaining the info 2. 2 diagrams explained: a) The business cycle; b) the circular flow of payments. Including a paragraph about how these diagrams relate to GDP. 3. Country A (choose a country from Europe or Asia) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph) 4. Country B (choose a country from South America or Africa) Include the following data: GDP, GDP per capita, population, infant mortality rate, birth rate, life expectancy, major industries, and other important data/info. What does the country data tell us? (a paragraph)

27. Objective: Students will the expansion of the United States as an Imperial power around the world. (Chapter 10) 1. Warm up—What is the Roosevelt Corollary? 2. Chapter 10 review (worksheet) 3. An American involvement in the world booklet. (concluded) 4. William Howard Taft (president)

28. Choose an American intervention, war or conflict from U.S. History between the years 1845-1916 1.Location (a map) and background: events that led up to the conflict 2.United States interests (real and perceived). Also, domestic opponents of the action, who were they and why were opposed? 3.Opponents abroad. What were their interests, goals? 4.Overall results, outcome and influence of the action. Include events that followed.

29. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: 1. Warm up—What role does government play in the economy? 2. Recession (video, notes) 3. Rational Irrationality (reading, outline/notes, discussion in groups)

30. Objective: Students the role government can play in ensuring a stable economy. 1. Warm up—What role does government play in the economy? 2. Government Regulation (video, notes) 3. Government Spending and Taxing (reading, questions, discussion) HOMEWORK:

31. Objective: Students will examine the First World War and the role the United States played in tipping the balance of power. (Chapter 11) 1. Warm up—What is nationalism? 2. Students as teachers: Breaking down Chapter 11 1.Groups of 3-4 2.Develop a two minute presentation on an assigned topic from chapter 11 3.Include at least one graphic (map, timeline, etc.)

32. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the circumstances leading up to the Great Recession of 2008. HOMEWORK: HOMEWORK: Chapter 15 (p300 1,2,6,8,9); Finish reading and annotating the article Rational Irrationality 1. NO WARM UP 2. Assembly 2 nd period, sit with the class so you don’t get marked absent.

33. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the circumstances leading up to the Great Recession of 2008. 1. Warm up—Give examples of both government reasonable and unreasonable government involvement in the economy. 2. Government regulation (video, notes) 3. Finish reading and annotating the article Rational Irrationality (reading, outline/notes, discussion in groups) 4. Questions HOMEWORK: Chapter 15 (p300 1,2,6,8,9) NOTE: Unit 5 quiz (chapters 15, 16 & 17; 15 questions) will be Friday, November 20, 2015

34. Objective: Students the role government can play in ensuring a stable economy. 1. Warm up—What is a progressive tax? 2. Government Taxing (reading, questions, discussion) 3. GDP Smack down! (video, notes, discussion) 4. Government spending 5. P382 1-6 HOMEWORK:

35. Objective: Students will examine the First World War and the role the United States played in tipping the balance of power. (Chapter 11) 1. Warm up—Explain one cause of World War I? 2. Students as teachers: Breaking down Chapter 11 1.Groups of 3-4 2.Develop a two minute presentation on an assigned topic from chapter 11 3.Include at least one graphic (map, timeline, etc.) PRESENTATIONS WILL BE THURSDAY

36. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the circumstances leading up to the Great Recession of 2008. 1. Warm up—In economic terms, what is a bubble? 2. HOMEWORK check: Chapter 15 (p300 1,2,6,8,9) 3. The Street (video, notes) 4. Rational Irrationality: questions Unit 5 quiz (ch15, 16 & 17; 15 questions) will be next Friday, November 20, 2015

37. 1. What do we mean by the booms and busts of the market? 2. What is speculation? 3. What are sub-prime mortgage bonds? 4. Explain the analogy John Cassidy makes with the suspension bridge in London and the lead up to the Great Crunch. 5. Why was there a freeze on credit beginning in August of 2007? What was the immediate result of such a freeze? 6. Explain the meaning behind the title, “Rational irrationality.”

38. Objective: Students the role government can play in ensuring a stable economy. 1. Warm up—What is discretionary spending? 2. Fiscal policy: How taxing and spending as a stabilizer (reading, questions, discussion) 3. Economics USA: Fiscal Policy (video, notes, discussion)

39. Objective: Students will examine the First World War and the role the United States played in tipping the balance of power. (Chapter 11) 1. Warm up—Who was the Archduke Ferdinand? 2. Breaking down Chapter 11: presentations in order (take notes) 3. The Century: World War I (video, notes)

40. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the circumstances leading up to the Great Recession of 2008. 1. Warm up—Draw the Laffer Curve. Explain your diagram. 2. Economic relationships 3. Review homework problems: p300 1,2,6,8,9 4. Rational Irrationality: questions 5. Too big to fail? (video, notes) HOMEWORK: p318 (1,2,3,6,7,9) Unit 5 quiz (ch15, 16 & 17; 15 questions) next Nov. 20

41. 1. What do we mean by the booms and busts of the market? 2. What is speculation? 3. What are sub-prime mortgage bonds? 4. Explain the analogy John Cassidy makes with the suspension bridge in London and the lead up to the Great Crunch. 5. Why was there a freeze on credit beginning in August of 2007? What was the immediate result of such a freeze? 6. Explain the meaning behind the title, “Rational irrationality.”

42. Objective: Students will examine the role government can play in ensuring a stable economy. 1. Warm up—What is fiscal policy? 2. Spending and taxes 3. Fiscal policy: How taxing and spending as a stabilizer (review questions) 4. Economics USA: Fiscal Policy (video, notes, discussion)

43. 1. Rising unemployment 2. Decrease in business investment 3. Decline in transfer payments such as social security 4. Rising inflation 5. Increase in the federal income tax

44. Objective: Students will examine the First World War and the role the United States played in tipping the balance of power. (Chapter 11) 1. Warm up—What is neutrality? 2. Breaking down Chapter 11: presentations in order (take notes) 1.Section 2 (last part) 2.Section 3 3.Section 4 3. The Century: World War I (video, notes)

45. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the keys differences in the Macroeconomic debate. 1. Warm up—Draw the Phillips curve. Explain your diagram. 2. The Phillips curve 3. Macroeconomic debates 4. Too big to fail? (video, notes)

46. Objective: Students will examine the role government can play in ensuring a stable economy. 1. Warm up—What is money? 2. Death to Pennies (take notes on the four reasons why the penny must die) 3. Money (vocabulary knowledge worksheet) 4. That film about money (video, notes, discussion) 5. Complete items 1-14 on pages 266-267 from yesterday

47. Objective: Students will examine the politics of 1920s America. (Chapter 12) 1. Warm up—What is a status symbol? Give an example. 2. Chapter 12 Summary (Reading and questions) 3. Chapter summary worksheet (finish for homework) 4. The Century: The Roaring Twenties (video, notes)

48. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the keys differences in the Macroeconomic debate. 1. Warm up—What is meant by the velocity of money? 2. Macroeconomic debates (reviewed) Consolidating our conclusions. 3. Too big to fail? (video, notes)

49. Objective: Students will examine the role government can play in ensuring a stable economy. 1. Warm up—List the four reasons some believe we should get rid of the penny. 2. That film about money (video, notes, discussion) part 2 3. Money (vocabulary knowledge worksheet) review 4. Complete items 1-14 on pages 266-267 from Monday

50. Objective: Students will examine the politics of 1920s America. (Chapter 12) 1. Warm up—Who was Warren G. Harding? 2. Chapter 12 Summary questions 3. Decadent America: The Roaring Twenties (video, notes) HOMEWORK: Worksheet

51. UNIT V. OTHER LONG RUN PERSPECTIVES AND MACROECONOMIC DEBATES Objective: Students will examine the keys differences in the Macroeconomic debate. 1. Warm up—Draw the aggregate demand curve. 2. Macroeconomic debates (monetarism and rational expectations) 3. Too big to fail? (video, notes)

52. Objective: Career day speaker