1. Opportunity and Production

2. Homework: Research the Policies of a Presidential Candidate  Pick one of the main presidential candidates (Trump, Clinton, Sanders) and do some research on their main policies  Create a Decision-Making Grid chart for each presidential candidate that examines 1. The Advantages of these policies 2. The Disadvantages of these policies 3. The Opportunity Cost of these policies 4. Provide a 2-3 sentence statement that explains whether we should vote for this candidate based on the costs and benefits of their policies

3. Example: Decision-Making Grid for Hillary Clinton PolicyImmigration ReformMore Restrictions and Regulation of Gun Laws Strengthen Military, create more allies, and defeat ISIS Advantages Disadvantages Opportunity Cost

4. Looking Forward: NEXT CLASS  Bring Textbooks NEXT CLASS  This will be graded

5. Warm Up  What economic conditions did settlers in California have to deal with?  What kinds of goods and services did they have and what did they need?  Were there shortages? How did availability of goods and services impact the value of these good and services?  What kinds of entrepreneurs moved to California and what made them entrepreneurs?

6. Learning Objectives  Analyze the meaning of Trade Offs and Thinking at the Margin  Interpret how Opportunity Cost impacts your own life  Synthesize the idea of Guns and Butter

7. Review Sheet  Write out the definitions of each of the different Economic Vocabulary terms on the Review Sheet

8. Trade-Offs  Trade-offs: All the choices/opportunities that we give up when we choose one course of action over another  Simulation: 1. List your top 5 favorite vacation spots 2. Identify pros/cons of each vacation spot 3. Pick your favorite vacation spot and explain why you chose this place 4. Identify what you gave up in order to go to the vacation place that you selected

9. Opportunity Cost  Opportunity Cost: The most desirable alternative given up as the result of a decision  What was your Opportunity Cost of your vacation spot that you picked?  What was your Opportunity Cost during the “Chips Experiment”?  Think of the most important decision that you have made since school started…what was the Opportunity Cost of this decision?

10. Examples of Opportunity Cost in the Media  Bend it Like Beckham: https://www.youtube.com/watch?v=- sETt_XmwSEhttps://www.youtube.com/watch?v=- sETt_XmwSE What is the Opportunity Cost for this woman of playing soccer?  The Hurt Locker: https://www.youtube.com/watch?v=A2DHALeyAn0 https://www.youtube.com/watch?v=A2DHALeyAn0 What is the Opportunity Cost for this soldier of fighting in Iraq?  Creed: https://www.youtube.com/watch?v=IxjbQ8YIbKIhttps://www.youtube.com/watch?v=IxjbQ8YIbKI What is the Opportunity Cost for Creed if he lets Rocky become his trainer? What is the Opportunity Cost for Rocky if he becomes Creed’s trainer?

11. Thinking at the Margin  Thinking at the Margin: Deciding how much more or less to do  http://yadayadayadaecon.com/clip/7/ http://yadayadayadaecon.com/clip/7/  What decisions does Jerry have to make?  How are these decisions examples of “Thinking at the Margin”?  What are the costs and benefits of these decisions?

12. Applying to your own life- Graph Worksheet  -Downloading Pirated Music  -What you want to do after high school  -Decision of your choice

13. Journal 1: “Guns or Butter”  Start a section in your notebook called “Journals”  After reading each article, summarize the article in two paragraphs(10 or more sentences)  Title of this Journal Activity: Journal 1-”Guns or Butter”  In the paragraph(s), be sure to fully answer all the questions on the reading

14. Warm Up  You are trying to get a job. You have a decision to make…you can either work at Safeway or McDonalds  Create a Decision Making Grid to weigh the costs and benefits of this decision

15. Homework: Research the policies of a presidential candidate  Pick one of the main presidential candidates (Trump, Clinton, Sanders) and do some research on their main policies  Create a Decision-Making Grid chart for each presidential candidate that examines 1. The Advantages of these policies 2. The Disadvantages of these policies 3. The Opportunity Cost of these policies 4. Provide a 2-3 sentence statement that explains whether we should vote for this candidate based on the costs and benefits of their policies

16. Learning Objectives  Analyze how propaganda/imagery has impacted the US throughout history  Synthesize the idea of Production Possibilities  Engage in Creative and Collaborative Learning

17. Looking Ahead  First Quiz: Next Thursday/Friday

18. Brainstorming  How has propaganda and imagery throughout US history impacted production of certain goods?  What factors must you consider when thinking about production possibilities?  How does production connect with other economic ideas we have studied?

19. Historic Propaganda/Imagery  After each image is shown, write: 1. The title of the image 2. The people/places the image is referring to 3. The good/service that the image is trying to get Americans to produce 4. The message of the image 5. How and why the image is trying to get Americans to produce the product

20. Valley Forge

21. The Civil War

22. World War I

23. World War II

24. World War II (Number 2)

25. The Cold War

26. Check for Understanding  How has art and propaganda been used in the past to increase production in different sectors of the American Economy?  What is the connection between production and warfare?  What kinds of visuals can you use to show production possibilities?

27. Textbook Work: Pg. 13-18  Read Chapter 1, Section 3, entitled “Production Possibilities Curve” and answer questions 1-7 in Section 3 Assessment

28. Vocabulary  Production Possibilities Curve: A graph that shows alternative ways to use an economy’s productive resources  Production Possibilities Frontier: The line on a production possibilities graph that shows the maximum possible production output  Efficiency: Using resources in such a way as to maximize the production of goods and services  Underutilization: Using fewer resources that an economy is capable of using

29. Group Project: Create your own Nation  Groups= 4/5 People  You will be creating two Production Possibility Curves for your nation  Pick an event that is going to lead to the change of production outputs of two resources  Roles for Group Members: -National Leader -Citizens -Economist

30. Group Project Presentations  Each person in your group needs to role-play a person in your country  Your group needs to create 3 questions to ask the class about the graphs  Your group needs to write out a script that will explain a. Event that is causing the production possibilities to change b. Resources that are being impacted, how and why the production of these resources are changing, and the overall impact on the economy c. How the citizens of the nation feel about the change in production of resources

31. Question Ideas-You are not limited to these ideas  Your three questions that you are going to ask the class can revolve around: a. Opportunity Cost of the decision/event b. Trade-off that is taking place c. Consumer/Capital Goods d. Factors of production e. Future of your nation’s economy f. Efficiency of your nation’s economy

32. My example: Nation of Biggie  Event: Biggie declares war on Tupac  Economic Plan: Produce more guns and less dog treats  Overall Impact on Economy: Food is going to be less available and more expensive, but it will be advantageous after we win this war  Questions: 1. What is the Opportunity Cost of my decision to go to war? 2. Which factors of production will I need to increase to produce more guns? 3. What do you see for the future of my nation’s economy and why?

33. Warm Up  What is the “Guns or Butter” Economic Model?  What does this model say about how one resource is impacted when production of a second resource is increased?

34. Learning Objectives  Interpret the Law of Increasing Cost  Enhance independent review skills  Synthesize material that will be on Quiz 1

35. Looking Ahead: First Quiz  First Quiz= Next Thursday/Friday  Start Studying Today!!!

36. Law of Increasing Cost  Law of Increasing Costs: As we shift making more of one good/service to another good/service, the cost of producing the second resource increases

37. My New Business: Rosenberg Inc.

38. My Business: M&Ms and Chips  What does the first dot on the graph represent?  What does the second dot represent?  According to the Law of Increasing Cost, what should happen to the price of Chips?  What other factors or economic theories would play a role in value and price change of the Chips and M&M’s?

39. Experiment  Each student has $10.00  There are 20 Bags of Chips Available  There are 20 Bags of M&Ms Available  1 Bag of Chips= $2.00  1 Bag of M&Ms=$3.00  First Round: Each student can pick 1 Bag of Chips or 1 Bag of M&Ms

40. Check for Understanding  How did the price of Chips change from Experiment 1 to Experiment 2?  How did the availability of M&M’s impact the price of chips?  How does this demonstrate the Law of Increasing Cost?  What other factors impacted the results of this Experiment?

41. Pair-Share your Homework  Share your homework with a partner  With your partner, create your own decision-making grid of which is the best type of food  Make sure to include your choices, advantages, disadvantages, and Opportunity Costs of each choice

42. Review Sheet  Fill out the Matching Sheet to prepare for the quiz  DON’T CRISSCROSS LINES: WRITE THE CORRECT LETTER NEXT TO THE NUMBER OF THE DEFINITION THAT IT CORRESPONDS TO  Analyze the Production Possibilities Curve on the back of the sheet and answer the questions that follow

43. In-Class time to work on Study Guides  For each term, idea, concept, etc. on the study guide, write out a 1-2 sentence explanation of it  Include all notes, examples, and relevant material for each term, idea, concept  Write your answers on a separate sheet of paper

44. Warm Up  Write down five vocabulary terms that you think will be on the quiz

45. Learning Objectives  Synthesize material that will be on the quiz  Review key concepts, terms, and ideas  Engage in Individual and Collaborative Learning

46. NEXT CLASS=QUIZ  STUDY For the quiz next class

47. Pair-Share Warm Ups  Switch Warm-Ups with a partner and define their vocabulary terms

48. Kahoot.IT  THIS IS THE ONLY TIME YOU WILL BE ALLOWED TO USE YOUR CELL PHONES  Login to Kahoot.IT  Put in your name  Enter the Pin Code that I will display

49. Jeopardy  RULES: 1. Your group will be allowed to choose which category they want to answer a question from 2. Once someone from your group answers: that is the group’s final answer to the question! 3. Your group has 1:00 minute to answer the question 4. If your group gets the question wrong, the question goes to the group after you, and they have 30 seconds to answer the question

50. Jeopardy  YOUR GROUP WILL LOSE THE CHANCE TO ANSWER THE QUESTION IF SOMEONE ASKS ME TO REPEAT THE QUESTION MORE THAN ONCE  Your group will lose points if… 1. SOMEONE IN YOUR GROUP COMPLAINS ABOUT THE GAME (“This is Stupid”) 2. CLASS NORMS ARE NOT BEING FOLLOWED BY SOMEONE IN YOUR GROUP Examples: Cursing, Side Conversations, Not Listening, etc. IF YOUR GROUP ENDS UP WITH NEGATIVE POINTS, EVERYONE IN THE GROUP WILL LOSE 3 POINTS ON THE QUIZ

51. Rewrite the lyrics to a song  In a group of 4-5, pick a song of your choice, and rewrite the lyrics using terms, concepts, and ideas that will be on the quiz  You have to write out a script for your song  The script has to have at least ten lines and include lyrics that will help you review for the quiz