1. 3/26/14 “Adjusted Gross Income” 1.How is your AGI different from the amount of money you earn in a year? 2.What does the IRS use your AGI for?

2. 1.Adjusted Gross Income (AGI) Total income minus all of your deductions Example: Income = $50,000 Standard deduction = $6,100 AGI = $50,000 – $6,100 = $43,900 2.What does the IRS use your Adjusted Gross Income for? AGI is the amount of $$ your are taxed on (basically)

3. 3/26/14 Econ. Agenda 1.Review AGI math problems # 1 – 3 2.Discuss Russian economic sanctions & whether you think they are going to work. (class discussion) HW: None!

4. Where is Russia? Where is Ukraine? Where is Crimea?

5. This is where Ukraine is!

6. What is happening in Ukraine right now? Source: http://www.bbc.com/news/world-europe-26476314

7. Crimea: History Crimea was part of Russia/U.S.S.R. until 1954 when the Soviet leader Nikita Khrushchev gifted it to Ukraine. Source: http://www.bbc.com/news/world-europe-26476314

8. Crimea: History That didn't matter when this was all Soviet territory. 1991 - the Soviet Union collapsed. And overnight, Russia and Ukraine became separate countries, with Crimea still in Ukraine. Source: http://www.bbc.com/news/world-europe-26476314

9. Ukraine: East vs. West Western Ukraine tends to identify with Europe. Eastern Ukraine tends to identify with Russia. Who does Crimea seem to identify with?

10. Ukraine: What has happened recently? late Jan. 2014 – protests erupt over rule of pro- Russian president Victor Yanukovych Yanukovych decided to ally Ukraine more with Russia than with the European Union. Source: http://www.bbc.com/news/world-middle-east-26248275 Source: http://gokicker.com/2014/03/03/ultimate-super-helpful- guide-tense-situation-ukraine/#!ArejJ

11. Ukraine: What has happened recently? Feb. 2014 – protests continue & Ukrainian govt. violently cracks down on protesters 18 dead & hundreds wounded on Feb. 18 th Source: http://www.bbc.com/news/world-middle-east-26248275

12. Ukraine: What has happened recently? Feb. 20 th – protests continue… 88 people killed in 48 hours. Govt. snipers killing protesters… Source: http://www.bbc.com/news/world-middle-east-26248275

13. Ukraine: What has happened recently? February 22nd: President Yanukovych disappears & protesters take control of presidential buildings. Parliament votes to remove president from power & names interim president until elections can be held. An arrest warrant is issued for former president Yanukovych. Source: http://www.bbc.com/news/world- middle-east-26248275

14. Ukraine: What’s the Problem? February 27 – 28: Pro-Russian gunmen seize key buildings in the Crimean capital. Unidentified gunmen in combat uniforms appear outside Crimea's main airports. Source: http://www.bbc.com/news/world-middle-east-26248275

15. Ukraine: What’s the Problem? March 1: Russian parliament approves Vladimir Putin's request to use force in Ukraine to protect “Russian interests.” Source: http://www.bbc.com/news/world-middle-east-26248275

16. Ukraine: What does Russia Want? March 7: Russia says it will support Crimea if the region votes to leave Ukraine & join Russia. Source: http://www.bbc.com/news/world-middle-east-26248275

17. Ukraine: What does the U.S. think? March 12: Barack Obama pledges to stand with Ukraine (& thus against Russia) during a meeting with interim Ukrainian Prime Minister Arseniy Yatsenyuk at the White House. Source: http://www.bbc.com/news/world-middle-east-26248275

18. Ukraine: So, did they vote…? March 16: Exit polls from Crimea's secession referendum say 93% of voters support a proposal for Crimea to join Russia. However, there are reports of pro-Ukrainians boycotting the vote & voter intimidation, etc. Also, there are rules in Ukraine’s Constitution for how secession works, & this did not follow those rules. Source: http://www.nytimes.com/2014/03/17/world/europe/crimea-ukraine- secession-vote-referendum.html?_r=0

19. Ukraine: Why do the U.S. & the E.U. care? U.S. & European Union denounce the Crimean vote & Russian decision as illegitimate & illegal. U.S. & E.U. threaten economic sanctions & “further action” if Russia doesn’t back off. Source: http://america.aljazeera.com/articles/2014/3/18/putin-signs- draftlawforcrimeanannexationblastswest.html

20. Ukraine: So, what did Putin do? Putin & Russia signed treaty recognizing & officially annexing Crimea as part of Russia. Source: http://america.aljazeera.com/articles/2014/3/18/putin-signs- draftlawforcrimeanannexationblastswest.html

21. Ukraine: Why does this have such huge global implications? U.S., E.U. & their allies = “The West” Russia, China, & some other “Big C” Communist countries = “The East” Source: http://www.infiniteunknown.net/2013/06/16/iran-sends-4000-revolutionary- guards-to-aid-syrias-assad/

22. Economic Sanctions Against Russia 3.What are the economic sanctions being enforced on Russia right now? 4.Specifically, how have these economic sanctions affected Russia so far?