MicroeconomicsEssential Questions:
How do people's wants and needs effect product markets? Are entrepreneurs modern day heroes? |
STOCK MARKET GAME
Play Ms. Eckert's stock market game.
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Introduction to Economics |
LESSON: Factors of Production
Take notes on Ms. Eckert's presentation. Consider, what went into a recent product you purchased? LESSON: Factors of Production
Take notes on Ms. Eckert's presentation, then watch the Investopedia film below, adding comments to your notes. Do you think that entrepreneurs are heroes? Why or why not? LESSON: Why do we study economics?
Consider the question, why do we study economics? Take notes on Ms. Eckert's presentation and complete the in class activity. LESSON: Micro v. Macro
What is the difference in scope between Micro and Macroeconomics? Take notes on Ms. Eckert's presentation, then watch the video below on Positive and Normative economic statements. LESSON: Graphs
Everyone knows how to read graphs, but in economics it is important that we understand terminology associated with trends. Take notes on Ms. Eckert's presentation, then complete the Graph Activity. LESSON: Production
Take notes on Ms. Eckert's presentation. Is production the most effective way of measuring economic success? What factors does it leave out? Read through the Absolute and Comparative Advantage Activity. Complete the Comparative Advantage Activity for EXTRA CREDIT. Watch the Khan Academy film below, adding comments to your notes for extra learning.
LESSON: PPF, PPC, etc.
Take notes on Ms. Eckert's presentation. Then graph the production possibilities during the PPF Activity. Watch the Khan Academy films below, adding information to your notes for extra learning.
LESSON: Economic Systems
Take notes on Ms. Eckert's presentation. Then determine the success of each of these system types using real world examples. Use the CIA World Factbook to complete the Comparative Systems Activity. |
Microeconomics
Demand curves are negative.
Quantity Demanded is graphed from a "Demand Schedule."
Elasticity can be calculated, and is given a value known as Ed (Elasticity of Demand). Ed's that are greater than 1 are elastic, where as Ed's that are less than 1 are inelastic. Ed that is equal to 1 is unit elastic. Ed does not equal slope!
More simply, you can calculate elasticity by simply looking at the rise and fall of Total Revenue.
Supply Curves are positive and can reflect supply industry wide or with just a single business. This graph shows both.
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LESSON: Demand
Take notes on Ms. Eckert's presentation. Consider the elasticity of various athletic balls as they respond to the "stimuli" of being dropped. This in class comparison can be representative of demand for various goods or services, each differing in their response to "being dropped" or price changes, due to their elasticity. Then complete the Determinants of Demand Activity.
LESSON: Elasticity and Unit Elastic
Take notes on Ms. Eckert's presentation. LESSON: Marketing
Take notes on Ms. Eckert's presentation, then watch these examples of marketing strategies.
LESSON: Supply
Take notes on Ms. Eckert's presentation. Then read the Walmart's and Supply Article. After reading, respond to the question, how can a company improve Supply Elasticity? LESSON: Price Setting
Watch the two videos below on the price system and price floors and ceilings. Then, take notes on Ms. Eckert's presentation.
LESSON: Competition
Take notes on Ms. Eckert's presentation, then watch the PBS documentary, Is Walmart Good for America? Complete the accompanying Activity as you watch the film. |
Competency
As an accumulative project, students will create a Business Plan for a business that they design. Students will create a PPT of their business plan to present to a panel of investors in our version Shark Tank (see demonstration video below).
- Business Plan Packet due before your Power Point
- Example Power Point for your Business Plan
- Presentation Rubric
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