1. Fiscal Policy

2. Day 1 Complete the AI3 for the Fiscal and Monetary Policy Article  Analyze  WHAT DO YOU SEE? WHAT IS HAPPENING? WHAT DOES IT SAY? HOW IS IT WRITTEN?  Interpret  WHAT IS THE MEANING OF IT? HOW DOES IT CONNECT TO THE TOPIC?  Infer  WHY WAS IT CREATED? WHAT IS IT’S PURPOSE? WHAT EFFECT DID IT HAVE?  Integrate  WHAT DOES IT REVEAL ABOUT THE PAST? HOW DO YOU RELATE TO IT?

3. Article Summary

4. Fiscal Policy Terms  Fiscal Policy: changes in federal-government spending or taxes designed to promote full employment, price stability and reasonable rates of economic growth  Expansionary Fiscal Policy: an increase in government spending and/or a decrease in taxes designed to increase demand in the economy. To increase GDP.  Contractionary Fiscal Policy: a decrease in government spending and/or an increase in taxes designed to decrease demand in the economy. To control inflation.

5. What is Fiscal Policy?  http://www.investopedia.com/video/play/fiscal- policy/?rp=i http://www.investopedia.com/video/play/fiscal- policy/?rp=i

8. FISCAL POLICY: A TWO-ACT PLAY  Directions: In your group, choose parts and prepare a few lines to act out your role. To perform the play, you will line up next to each other in order and deliver your lines to the person standing next to you. Make sure you follow the ideas described!  Each part needs at least 3 lines based on your character. Act I Roles: 1. 2. 3. 4. 5. 6. 7. 8. Narrator: Act II Roles: 1. 2. 3. 4. 5. 6. 7. 8. Narrator:

9. Day 2 Play Presentation Audience: During the Play 1.What is the fiscal policy? (Expansionary or Contractionary) 2.Why do you think it is that policy? 3.What is the effect of that policy?

10. Debates about Fiscal Policy 1.How fast does fiscal policy work? 2.How is fiscal policy affected by international events? 3.How does fiscal policy affect the national debt and interest rates?

11. You be the President Expansionary Fiscal Policy/Contractionary Fiscal Policy How will you implement this policy? What affect will it have on John Smith (your typical American)? 1.Prices for new homes and cars have gone up by over 9% since last summer. 2.Due to less profit, Ford lays off 2,000 workers. 3.The GDP has been down for 5 consecutive months. 4.Due to a price increase in transportation cost, grocery prices are expected to rise by 10% within the next month. 5.The increase of home foreclosures have left thousands of families homeless.

13. Cinderella Man

14. DBQ Fiscal Policy

15. Hard Times: Long Island: Unemployment HBO Documentary 60 Minutes: China’s Housing Bubble Hard Times: Lost on Long Island 1.How many Americans are currently unemployed? 2.Where do many unemployed people meet? Why? 3.Where was the “suburban dream” born? 4.How much have median incomes fallen over the last decade? 5.What % of 25-34 year olds has Long Island lost? 6.Which group of people, make up the “99ers”? 7.Approximately how many people in America have become discouraged looking for a job? Are they counted in unemployment? 8.Who executes foreclosure evictions in Suffolk County? 9.Identify the outcomes for one of the individuals followed throughout this documentary.