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Week 13/ October 30 to November 3

October 30 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

b. Explain and illustrate on a graph how price floors create surpluses and price ceilings create shortages.

EQ: How does government involvement in a market interfere with market efficiency?

Activator:

Classnotes-

Price Ceiling: A maximum that can legally be charged for a product.  Politicians will set price ceilings when they feel a market price is unfairly high.  This will artificially lower the price of the product, but it will create a shortage.  Note that historically, politicians have placed price ceilings on goods and services that are viewed as necessities.  This might include certain foods, gasoline, or more recently, housing as with rent control in New York City.

(Price ceiling graph example)

You need to be able to examine a graph and tell if a price is a floor or a ceiling.  You also need to be able to determine if the disequilibrium created is an example of a shortage or a surplus.  Keep in mind, only in economics are floors above ceilings.Students will be presented with a scenario and have to graph to display price ceilings.

 

Teaching Strategies: 

Students will be introduced to the concept of price ceilings.  They will create them on thier own graphs, and be able to identify what price ceilings create.

Any time left will be spent on a worksheet.  Worksheet is found under Unit 3 Microeconomics entitled Price floor and ceiling worksheet.pdf.

Presentation CLICK HERE

Worksheet CLICK HERE

Summarizer:

Socrative on Price Ceilings

 

October 31 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

b. Explain and illustrate on a graph how price floors create surpluses and price ceilings create shortages.

EQ: How does government involvement in a market interfere with market efficiency?

Activator:

Students will be presented with a number of different ways price floors and price ceilings are used commonly today in America.

Teaching Strategies: 

Students will research one price floor and one price ceiling.  They will indicate reasons to support the particular price floor or ceiling.  6 reasosn to support each and six resaons to ppose. They will define the particular price floor or ceiling, and then conduct an indepth investigation.  They will use a provided graphic organizer.  Possible price ceilings to research include rent control.  Possible floors to reserach include minimum wage.  They will then create a Skitch image for both raising the minimum wage and not raising the minimum wage AND using rent control and not using rent control.

Minimum Wage Sources

http://www.salary.com/increasing-the-minimum-wage-pros-cons/  CLICK HERE

http://www.balancedpolitics.org/minimum_wage.htm CLICK HERE

http://wheniwork.com/blog/the-pros-and-cons-of-raising-the-minimum-wage/ CLICK HERE

http://www.mlive.com/news/us-world/index.ssf/2015/10/minimum_wage_push_spurs_us_deb.html CLICK HERE

http://www.latimes.com/nation/la-na-seattle-minimum-wage-20140602-story.html CLICK HERE

 

Rent Control Sources

http://everydaylife.globalpost.com/pro-cons-rent-control-31970.html CLICK HERE

http://homeguides.sfgate.com/advantages-disadvantages-rent-control-8406.html CLICK HERE

http://www.nytimes.com/1988/10/02/weekinreview/region-pro-con-landlords-tenants-rent-control-should-any-low-income-housing-be.html CLICK HERE

 

Summarizer:

Students will submit work, Skitch and graphic organizer.

 

November 1  2017

Essential Question:

All Supply and Demand Standards and EQ's Apply/ Test Review Day

Activator:

Teaching Strategies: 

Review on Kahoot.

Students will work on a provided study guide.  The study guide and unit notes are avaliable under Unit 4 Microeconomics entitled Supply Demand part 1 Study Guide and Supply and Demand Unit Notes.

Study Guide CLICK HERE

Summarizer:

Socrative Exit on any final questions

 

November 2 2017

Essential Question:

All Supply and Demand Standards and EQ's Apply/ Test Day

Activator:

Answer any final questions

Teaching Strategies: 

Test over Supply and Demand

Summarizer:

None/ Test Day

 

November 3 2017

Essential Question:

All Supply and Demand Standards and EQ's Apply/ Test Corrections Day

Activator:

Answer any questions from test.

Teaching Strategies: 

Test Corrections over Supply and Demand Test

Summarizer:

For students who finish test corrections, or do not need to do them, they will watch a video and then take a socrative that covers material we will address in the coming days.

https://www.youtube.com/watch?v=V0tIOqU7m-c Click on the youtube link to watch the video

Socrative Code: 880cce2d

 

(Moved to next week)

November 6 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

a. Identify and illustrate on a graph factors that cause changes in market supply and demand.

EQ: How do buyers and sellers create the forces of supply and demand in a market economy?

 

Activator:

On Todaysmeet students will answer the following question: Other than a change in price, what could cause you to buy more or less Coca-Cola?  

http://www.cedartowngeorgia.gov/cbb-vote/

Teaching Strategies: 

Students will be introduced to the concept of shifts in demand.  They will learn how shifts occur and how to represent the curves on a graph.  They also learn the determinants that lead to a shift in demand.

Students will also be reminded of the difference between a change in quantity demanded and a change in demand.

Students will then work on practice questions related to shifting demand.

Presentations are avaliable under Unit 3 Microeconomics folder entitled Shift in Demand and Change in Demand v. Change in Quantity Demanded.pdf.  Practice is avaliable under same folder entitled Increase or Decrease in the Demand for Beef.

Presentation CLICK HERE

Shift in Demand v. Change in QD CLICK HERE

Pratice CLICK HERE

Practice Key CLICK HERE

We will review practice as a class.

Summarizer:

Socrative Exit Ticket.

 

November 7 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

a. Identify and illustrate on a graph factors that cause changes in market supply and demand.

EQ: How do buyers and sellers create the forces of supply and demand in a market economy?

 

Activator:

Classnotes:

Various factors can cause demand for a product to change.  When demand changes, it means that the willingness of an individual to purchase that product has changed at all prices.  That said, it should be clear that PRICE DOESN’T SHIFT THE CURVE!! (Remember, a change in price simply leads to movement along the demand curve.)

What can change demand?  Think TRIBE:

Tastes and Preferences

Related Goods, such as Compliments (hot dogs and buns), and Substitutes (Pepsi and Coke)

Income-normal goods, you make more you buy more, and inferior you make more you buy less

Buyers in the Market

Expectations of Future Prices

 

When demand increases, the curve shifts right.  When demand decreases the curve will shift to the left.  Remember IRDL (Increase, Right: Decrease, Left)

(Example of Increse in Demand)

(Example of Decrease in Demand)

You need to be able to read the changes in price and quantity that result when a demand curve shifts.  For example, if demand increases, price and quantity will rise.  If demand decreases, price and quantity will fall.

 

Students will work through 3 practice questions as a class.

Teaching Strategies:

Students will first watch a Hula Hoop Video and indicate where they see a change in Quantity Demanded and when thet see a Change in Demand.

https://www.youtube.com/watch?v=Ng3XHPdexNM

Students will work on practice relating to demand shifting.

Practice is avaliable under Unit 3 Microeconomics entitled  Demand Shifting Practice Computer Games.  Addittionally a notes sheet is aviable entitled DETERMINANTS OF DEMAND.pdf.

Practice CLICK HERE

Detereminants of Demand CLICK HERE

Summarizer:

Go over practice and answer any final questions.

 

November 8 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

a. Identify and illustrate on a graph factors that cause changes in market supply and demand.

EQ: How do buyers and sellers create the forces of supply and demand in a market economy?

Activator:

Question relating to what can lead to a change Supply, which would lead to a shift.

Teaching Strategies: 

Classnotes:

Many factors can cause the supply of a product to change.  This means that the willingess and ability of a supplier to produce a product has changed at ALL PRICES.  Since it changes at all price, you should know that PRICE DOESN’T SHIFT THE CURVE!

 

What will shift the supply curve?  Think TIPTEN:

Tecnology

Input Costs

Prices of Other Goods

Taxes, Subsidies, and Regulations

Expectaions of Future Prices

Number of Sellers

When supply increases, the curve shifts to the right.  When supply decreases, the curve shifts to the left.  IRDL works here too!

(Example of Increse in Supply)

(Example of Decrease in Suply)

You need to be able to read what happens to price and quantity when supply changes.  For example, when supply increases, price falls and quantity increases.  When supply decreases, price rises and quantity falls.

 

Students will be introduced to the concept of shifting supply.  They will be introduced to the various factors that lead to supply shifts and how these changes are graphically demonstrated.

Presentations are available under Unit 3 Microeconomics folder entitled Supply Shifting Presentation.  Practice is available under same folder entitled Supply Shifts Practice.

Presentation CLICK HERE

Practice CLICK HERE

Practice KEY CLICK HERE

Summarizer:

Socrative Exit OR go over practive

 

November 9 2017

Essential Question:

SSEMI3 The student will explain how markets, prices, and competition influence economic behavior.

a. Identify and illustrate on a graph factors that cause changes in market supply and demand.

EQ: How do buyers and sellers create the forces of supply and demand in a market economy?

Activator:

Provide Scenarios to class and have them determine if shifts in supply occur.

Teaching Strategies: 

Students will complete a practice worksheet on shifts in supply.

Practice is avaliable under Unit 3 Microeconomics entitled Changes in Supply Problem Set.  Addittionally a notes sheet is available entitled DETERMINANTS OF SUPPLY .pdf.

Problem Set CLICK HERE

Determinants of Supply CLICK HERE

Summarizer:

Go over practice.

 

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