1. Microeconomics and the Georgia Performance Standards
Mike Raymer
Program Manager
Georgia Council on Economic Education
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2. Georgia Council on Economic Education
“I hope I die during a workshop because the transition from life to death would be so subtle.”
-Anonymous Teacher
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3. Georgia Council on Economic Education
The Mission
To help teachers teach those students, K-12, in the public and independent schools of Georgia
Georgia Council on Economic Education
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4. Georgia Council on Economic Education
The Vision
Students leaving school prepared for their roles as:
Productive Workers
Informed Consumers
Involved Citizens
Prudent Savers
Wise Investors
Sound lifelong decision makers in a globally interdependent world
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5. Georgia Council on Economic Education
EOCT Pass Rates
S2004
W2004
S2005
W2005
S 2006
W2006
S 2007
W2007
S 2008
W2008
S2009
9th Grade Lit 77 79 81 60 66 68 67 73 74 76
Amer
Lit 89 93 94 82 80 84 83 86
Alge 63 57 65 56 55 40
Geom 59 61 51 47
Phys
Sci 54 62 64
Bio 75 78 50 52 58
U.S.
Hist 72 71 48 49
Econ 44 70
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6. Economics Test Data Trend
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7. Georgia Council on Economic Education
Research Findings
Will using the activities presented in this workshop help student EOCT scores?
…I sure hope so.
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8. Georgia Council on Economic Education
Workshop Impact
Non-AP Economics Students Score Higher on the High School Economics EOCT When Their Teachers Have Taken GCEE Workshops
( EOCT Exams – Five Testing Cycles)
DOE Scaled Score
7.7% gain
2.9% gain
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9. Georgia Council on Economic Education
Pacing
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10. Domain Performance for the 2008-2009 EOCT
Weight
Number of Items
Avg. Correct
Fall Spring
% Correct
Fall Spring
Fundamental
2 weeks
20.5% 14
7.8
8.3
56%
59%
Micro
4 weeks
22% 15
8.6
8.7
57%
58%
Macro
5 weeks
7.6
7.7
54%
55%
International
18% 12
6.7
7.1
Personal Finance
19% 13
8.2
63%
64%
Handout
Georgia Council on Economic Education
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11. Georgia Council on Economic Education
GPS
Performance standards provide clear expectations for instruction, assessment, and student work. They define the level of work that demonstrates achievement of the standards, enabling a teacher to know “how good is good enough.” (
Handout
Georgia Council on Economic Education
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12. Georgia Council on Economic Education
Domain Focus
SSEMI1
The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.
Georgia Council on Economic Education
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13. Georgia Council on Economic Education
Domain Focus
SSEMI2
The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.
Georgia Council on Economic Education
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14. Georgia Council on Economic Education
Domain Focus
SSEMI3
The student will explain how markets, prices, and competition influence economic behavior.
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15. Georgia Council on Economic Education
Domain Focus
SSEMI4
The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.
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16. Georgia Council on Economic Education
The “Must Haves”
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17. Georgia Council on Economic Education
Circular Flow Diagram
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18. Georgia Council on Economic Education
…continued
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19. Georgia Council on Economic Education
Supply and Demand
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20. Georgia Council on Economic Education
Equilibrium Price
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21. Georgia Council on Economic Education
Change in Demand
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22. Georgia Council on Economic Education
Change in Supply
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23. Georgia Council on Economic Education
Price Floors
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24. Georgia Council on Economic Education
Price Ceilings
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25. Georgia Council on Economic Education
Questions so far?
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26. Supply and Demand Curves- Georgia Council on Economic Education
friend or foe?
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27. Georgia Council on Economic Education
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28. Simulation #1- drawing your own curve
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29. Georgia Council on Economic Education
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30. Georgia Council on Economic Education
Reasons for Change in…
Demand
Consumer income/wealth
Consumer tastes and preferences (advertising)
Change in the price of substitute goods
Change in the price of complementary goods
Change in expectations
Change in number of consumers
Supply
Cost of inputs
Productivity
Technology
Taxes and Subsidies
Expectations
Government regulations
Change in the number of sellers
Weather/natural disasters
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31. Georgia Council on Economic Education
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32. Teaching Tools for MICROECONOMICS from John Stossel
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33. Georgia Council on Economic Education
What You Get…
16 Video Clips
Instructor’s Manual
Segment Description
Preview Question
Discussion and Analysis Questions
Extension Activities
Multiple-Choice Questions
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34. Georgia Council on Economic Education
Clip 5- Rent Control
SSEMI2 SSEMI3
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35. Georgia Council on Economic Education
Economic Mystery
Where Did the Mortgages Go?
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36. Demonstration Lesson #1
Price Controls- Too High or Too Low?
(Focus: High School Economics)
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38. Georgia Council on Economic Education
Clip 3- Greed
SSEMI 4
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39. Demonstration Lesson #2
The Economic Effects of 19th
Century Monopoly
(United States History: Eyes on the Economy)
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43. Georgia Council on Economic Education
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44. Perfect/Pure Competition
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45. Monopolistic Competition
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46. Georgia Council on Economic Education
Oligopoly
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47. An Economic Education Case Study Georgia Council on Economic Education
The tlanta Braves
An Economic Education Case Study
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48. Georgia Council on Economic Education
What You Get…
10 Lessons
Lesson Objectives
Lesson Overview
Classroom Procedures
*GPS Correlation Handout
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49. Demonstration Lesson #3
Building a Team- The Braves as a Creative Enterprise
SSEMI1
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50. Georgia Council on Economic Education
Any Questions?
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51. Simulation #2-Your Guide to Having Fun With Elasticity
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52. Price Elasticity of Demand
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53. Price Elasticity of Demand
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54. Price Elasticity of Demand
Can the purchase be delayed?
Are adequate substitutes available?
Does the purchase use a large portion of income?
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55. Price Elasticity of Supply
What You Will Need-
Plenty of paper (recycled is fine)
Staplers
Pens
Paper clips
Rulers
Understanding administrators
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56. Georgia Council on Economic Education
Show the Graphs
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57. Price Elasticity of Supply
Can a firm adjust quickly to new prices?
If yes, supply is likely to be elastic.
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58. Price Elasticity of Supply
Can a firm adjust quickly to new prices?
If no, supply is likely to be inelastic.
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59. Georgia Council on Economic Education
Lesson Ideas for the GPS Handout
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60. Georgia Council on Economic Education
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61. Georgia Council on Economic Education
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62. Georgia Council on Economic Education
facebook
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