Unit Five Review

14 06 2011

Topics Covered:

  • Fiscal Policy (these videos use a slightly different model for aggregate supply then what we covered in class, don’t worry too much about it – just focus on aggregate demand)
  • Money
  • Monetary Policy – quantitative easing

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Unit Four Review

14 06 2011

Topics Covered:

  • Circular Flow of Income
  • GDP
  • Employment
  • Inflation
  • Economic Growth
  • Business Cycle
  • Aggregate Supply and Demand
  • Interest Rates

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Unit Three Review

14 06 2011

Topics Covered:

  • Market Failures
  • Externalities
  • Public Goods
  • Price Ceiling and Floors
  • Subsidies
  • Quotas (stop video after 1:55 – you don’t need to worry about the producer and consumer surplus or the deadweight loss)

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Unit Two Review

14 06 2011

Topics Covered (lots and lots of material here!)

  • Supply and Demand
  • Elasticity
  • Marginal Utility
  • Revenue, Costs and Profit
  • Marginal Revenue and Marginal Cost
  • Market Structures

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Unit One Review

14 06 2011

Topics covered:

  • Positive vs Normative Economics
  • Scarcity and Choice
  • Opportunity Cost
  • Productions Possibilities Curve
  • Absolute and Comparative Advantage

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Money and Monetary Policy

7 06 2011

How Monetary Policy Works

A little Daily Show to start off…

Quantitative Easing

Two Views on Quantitative Easing

Will World Round 4

1 04 2011

Quarterly Report

Accounting regulations in Will World require all companies to produce quarterly reports.   The template for the report is available here.   Copy the file to your google account and fill out all the information.   Make sure you make the document public so everyone can see it.  Post a link to your file in the comments to this post.

Changes for this Cycle

You have the option in this cycle of setting your own price for Macs and Lyons.   Based on your price, you may sell out completely or you may have goods remaining at the end of the cycle.  Make your decisions wisely.

Be sure to fully read Will World Words as there are more options available to you in this round.  First come, first serve means exactly that so make your decisions carefully and quickly.

Post your pricing and production decisions here.

To increase your reputation this round you can complete these questions by the end of the day.

Opportunity Cost

7 02 2011

The Clash

Should he stay or should he go?  What are the costs associated with both decisions?

Shipbuilding, Elvis Costello

Is it worth it?
A new winter coat and shoes for the wife
And a bicycle on the boy’s birthday
It’s just a rumour that was spread around town
By the women and children
Soon we’ll be shipbuilding…….
Well I ask you
The boy said “Dad they’re going to take me to task, but I’ll be back by Christmas”
It’s just a rumour that was spread around town
Somebody said that someone got filled in
For saying that people get killed in
The result of this shipbuilding
With all the will in the world
Diving for dear life
When we could be diving for pearls
It’s just a rumour that was spread around town
A telegram or a picture postcard
Within weeks they’ll be re-opening the shipyards
And notifying the next of kin
Once again
It’s all we’re skilled in
We will be shipbuilding……..
With all the will in the world
Diving for dear life
When we could be diving for pearls.

Questions for Discussion:

  1. What is the song about?
  2. What is the choice that must be made?
  3. What are the opportunity costs of the choice?

First Day Tasks

28 01 2011

You will need several different accounts on websites for the class.  Please register for the following:

  1. WordPress account – use whichever email you regularly check.  You do not need a blog, just a user account.
  2. Google account – if you already have a gmail account, you have a google account.  You don’t need a gmail account to create a google account.
  3. diigo account.  Once you have a diigo account, please request to join the economics diigo group.  We will be using this tool later in the course but you might find it useful for other classes right now.

Once you have created all of these accounts, please complete this form so I have your basic information.

Next task, complete the class questionnaire.

And your final task, add a sticky to the wall.

AP Economics – Factor Markets

20 01 2011