Homework

24 02 2011

Go see the school musical – “The 25th Annual Putnam County Spelling Bee”

It is hilarious!

Advertisements




Commanding Heights Video

24 02 2011

This video gives you an overview of the economic changes in the last 90 years.  We won’t be able to get through all of it in class but we can start.

Your homework is to respond to the questions below in the comments to this post.

Choose two of the following questions to respond to:  (answers should not repeat content)

  1. Based on the portion of the video played in class, do you agree more with Keynes or Hayek?   Give supporting reasons for your opinion.
  2. What are the differences between a communist system and a capitalist system?
  3. What is hyperinflation?  Why is it a problem?
  4. What did Roosevelt do to try to end the Great Depression?
  5. What did Keynes mean when he said ‘in the long run we are all dead’?




Unit One Test Questions

24 02 2011

For this test, you will be required to answer one understanding question and one normative question.  There will be one other question not given in advance.

Understanding Questions

Why is scarcity the fundamental economic problem?
How do opportunity costs affect trade decisions and the shape of the production possibilities curve?

Normative Statements

Negative incentives are more effective than positive incentives.
The best economy is an efficient economy.

Feel free to use the comments section of this post to discuss the questions prior to the test.





Open Notes Tests

24 02 2011

Economics Open Notes Tests

You can use your handouts, your textbook and any personal notes for these tests.  The purpose of the questions is to determine whether you understand the concepts and can fully explain them and/or apply them.

Each test will consist of two types of questions. Some will be normative statements that you can either support or oppose.  Others will be questions designed to determine whether you understand fundamental economic concepts.  You need to do more than just write the definitions of the terms for these questions.

For both types of questions, the use of graphs is strongly encouraged, where appropriate.  As well, be sure to incorporate appropriate economic vocabulary and terminology.  Wherever possible, use concrete, clear examples to support your statements.

You may come in with personal notes to help you answer the questions but I don’t want to see full answers that you are just copying on to the paper.  Part of the purpose of the test is to help you learn to manage your time.  As always, I’m looking for quality not quantity.

Some choice may be provided on the test.  Be sure to fully read all instructions before beginning your answers.

Marking Scheme for Economics Tests

Criteria Insufficient Evidence Limited Evidence Some Evidence Considerable Evidence High Degree of Evidence
1) Does the answer demonstrate an understanding of the underlying economic concepts? (KU)

0

1

2

3

4

2) Does the answer use appropriate models, graphs and examples to support arguments? (AP)

0

1

2

3

4

3) Is the answer well-reasoned? Does it consider multiple perspectives and all available evidence? (TI)

0

1

2

3

4

4) Does the answer come to a clear, easy to understand conclusion, supported by reasoned arguments? (CM)

0

1

2

3

4

Understanding Questions will be marked using criteria 1 and 2 (each question worth 8 marks)

Normative Statements will be marked using criteria 2, 3 and 4  (Each question worth 12 marks)






More on Absolute and Comparative Advantage

23 02 2011

SMART Files

absolute and comparative advantage

ppc review and questions





Simulation – Some Words of Wisdom…

16 02 2011

Last semester’s class has some advice for you before you begin your quest for Will World domination.    The advice covers everything from dividing up group tasks to dealing with group conflict to strategies for winning.

The simulation will not be exactly the same as last semester.  You are free to ask for advice from friends who took the class last semester but market conditions and specific events may or may not be repeated.  Don’t make a decision based on what someone from last semester tells you will happen next.  They could be very, very wrong.

Read on for the specific tips…

Read the rest of this entry »





Simulation Round 1

16 02 2011
Round 1 Tasks
  1. Read over the Simulation handout
  2. Read the advice from last semester
  3. Decide if your group should have assigned roles
  4. Deposit Cuttlebucks in the Cuttlebank
  5. Make decisions
  6. Purchase items
  7. Submit decisions
Round 1 Decisions

The following decisions must be made, and any associated transactions completed, during the game.

Purchase Decisions

  • Manufacturing Equipment
  • Energy
  • Raw Materials

Hiring Decisions
Investment and/or Borrowing Decisions

The following decisions must be submitted online
Production Decisions