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Week 23/ January 28 to February 1

January 29 2018

 

Essential Question and Standards:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

Classnotes: (will take 2 days to write)

Price stability is a key goal in macroeconomics.  To understand if we are achieving price stability, we must measure inflation.  Inflation is defined as a general rise in prices.

To calculate inflation we use the Consumer Price Index which is a market basket of items that the typical urban consumer purchases in a month.  Each month, economists calculate how much this basket costs and compares the price from one month to another.  If the index price rises, we are experiencing inflation.

 

Causes of Inflation include:

Demand-Pull Inflation:  Occurs when there is a shift of the AD curve.  Demand “pulls up” prices. Essentially occurs when there are too many dollars chasing too few products and supply has not caught up.

Cost-Push Inflation:  Occurs when input costs for producers rise.  This reduces AS, leading to higher prices and lower real GDP.  Higher prices and lower real GDP is a situation known as STAGFLATION.

Quantity Theory of Money:  Too much money circulating in the economy causes inflation.

 

Students will be provided with the study guide for this unit.  They will be asked to examine and determine how much we have gone over, and how much we have left.

Teaching Strategies: 

Students will be introduced to inflation and the types of inflation.  Terms developed and learned include inflation, deflation, stagflation, cost push inflation, demand pull inflation, and the quantity theory of money.

Students will then watch a video explaining inflation: https://www.youtube.com/watch?v=UMAELCrJxt0

Presentation is available under Unit 5 Folder entitled Inflation Presentation.  Students will also be provided with a graphic organizer entitled All About Inflation Graphic Organizer.

Presentation CLICK HERE

Graphic Organizer CLICK HERE

Summarizer:

Socrative Exit Ticket

 

January 30 2018

 

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

What is inflation?  What is deflation?  What is cost push inflation, and what causes it?

Teaching Strategies: 

Students will be introduced to calculating inflation.  They will learn the concepts of Consumer Price Index and how these calculations are developed.

Presentation is available under Unit 5 Folder entitled Inflation Presentation. Students will also be provided with a graphic organizer entitled All About Inflation Graphic Organizer.  Students will work through practice questions.  Questions available under Unit 5 Macroeconomics entitled Inflation Practice.

Presentation CLICK HERE

Practice CLICK HERE

Summarizer:

Socrative covering inflation

 

January 31 2018

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

b. Define Gross Domestic Product (GDP), economic growth, unemployment, Consumer Price Index (CPI), inflation, stagflation, and aggregate supply and aggregate demand.

c. Explain how economic growth, inflation, and unemployment are calculated.

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

Give examples of who benefits and who loses from inflation. 

How and why do we measure and evaluate economic activity?

Activator:

Classnotes:

Inflation can help some groups and hurt others.  Inflation helps borrowers at a fixed interest rate, and people who have raises over the rate of inflation, because they have no decline in purchasing power.  Inflation hurts lenders and a savers at a fixed interest rate.  Also hurts people who have a fixed income.

 

CPI practice question.  CPI in 2004 is 120.  CPI in 2005 is 140.  What is the rate of inflation?

Teaching Strategies: 

Students will learn about the concept of being helped or hurt by inflation.  Students will be provided with a graphic organizer and listen to a number of scenarios.  These scenarios will be read out loud and students will determine if the individual is helped or hurt by inflation.  Graphic organizer is under Unit 5 Macroeconomics entitled Inflation situations.  Students will also be provided with direct notes entitled hurt or helped by inflation to wrap up lesson.

Inflation Situations CLICK HERE

Inflation Scenarios CLICK HERE

Inflation Helped or Hurt CLICK HERE

Summarizer:

Helped or Hurt Socrative Exit

 

 

Februray 1 2018

Essential Question:

All Macroeconomic Standards and EQs apply.  Test Review Day.

Activator:

Final Questions before review?

Teaching Strategies: 

Students will be guided through a Nearpod that covers all aspects of Macroeconomics.  Study Guide is available under Unit 5 Macroeconomics entitled Macroeconomics Indicators study Guide.

Study Guide CLICK HERE

Summarizer:

What final Questions do you have?

 

 

February 2 2018

Essential Question:

All Macroeconomic Standards and EQs apply.  Test Day.

Activator:

Final Questions?

Teaching Strategies: 

Students will take test on Unit 5 Macroeconomics.

Summarizer:

None: Test Day

 

 

 

 

---Below will begin after Seniot Budget is complete.  Look on previos weeks LP for Senuior Budget LP

January 28 2018

Essential Question:

Standard:  SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

b. Define progressive, regressive, and proportional taxes.

c. Explain how an increase in sales tax affects different income groups.

EQ:  How do taxes affect different groups of people?

Activator:

Classnotes:

There are three different types of taxes that affect income groups in different ways.

Proportional Tax:  All income groups pay the same percentage.

Progressive Tax:  As your income rises, the percentage you pay in taxes rises.  (Income Tax)

Regressive Tax:  As your income rises, the percentage you pay in taxes falls.  (Sales Tax)

 

On a blank sheet of paper students will list out all the different types of taxes you can think of.   After students create list, discuss some of the taxes.  What is being taxed?  Who is receiving revenue?

Teaching Strategies: 

Students will learn about taxes.  The reason for taxes will be addressed (providing public goods and services)  and the various types of taxes.  Students will also be introduced the the concept of fiscal policy by simply receiving a definition.

Presentation is available under Unit 6 Monetary and Fiscal Policy entitled Tax Structures Presentation and activity is entitled Types of Taxes Case Study.

Presentation CLICK HERE

Practice CLICK HERE

Summarizer:

Socrative Exit Ticket 

 

January 29 2018

Essential Question:

SSEMA1 The student will illustrate the means by which economic activity is measured.

f. Describe the difference between the national debt and government deficits.

EQ: How does government spending impact the national debt?

Activator:

Classnotes:

Though fiscal policy is a tool that can be used to influence the economy, there are problems with it.  Expansionary fiscal policy can create budget deficits and increase the national debt.

A Budget Deficit occurs when government expenditures exceed tax revenues.  This is measured on a yearly basis.

The National Debt is the amount the United States government owes to bondholders.  This increases each year the United States runs a budget deficit.

 

Socrative warm up Review on Types of Taxes or Worksheet covering types of taxes.  Available under Unit 6 Monetary and Fiscal Policy entitled Tax Overview Recap.

CLICK HERE

Teaching Strategies: 

Students will be introduced to the second concept in fiscal policy, government spending.  Students will learn about National Debt, National Deficit, and Surplus.  With any time left students will conduct research on problems concerning the national debt.

Video on National Debt: https://www.youtube.com/watch?v=O_TjBNjc9Bo

Start 3:40 to 11:00

Presentation is available under Unit 6 Monetary and Fiscal Policy entitled Debt and Deficit and Reasons for Concern about the National Debt.

Presentation CLICK HERE

Resources for researching National Debt:

http://www.cbsnews.com/news/national-debt-passes-16-trillion-should-you-worry/

http://theweek.com/articles/536307/dont-worry-aboutthe-rising-national-debt-seriously-just-dont

http://neweconomicperspectives.org/2013/08/the-five-worst-reasons-why-the-national-debt-should-matter-to-you-part-one-high-debt-levels-and-jobs.html

http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-national-debt-what-you-should-know/

http://mic.com/articles/73067/america-is-17-trillion-in-debt-here-s-why-you-shouldn-t-be-worried#.bxpd0NGfo

Summarizer:

Socrative Exit on Taxes and Debt/Deficit/Surplus

 

January 30 2018

Essential Question:

SSEPF3 The student will explain how changes in monetary and fiscal policy can have an impact on an individual’s spending and saving choices.

b. Define progressive, regressive, and proportional taxes.

c. Explain how an increase in sales tax affects different income groups.

SSEMA1 The student will illustrate the means by which economic activity is measured.

f. Describe the difference between the national debt and government deficits.

EQ: How can government taxing and spending affect the economy?

Activator:

Socrative Quiz covering Taxes and Debt and Deficit (Socrative may be taken in previous class)

Teaching Strategies: 

Students will be grouped in pairs based on quiz results and complete one activity on taxes and spending/ fiscal policy practice and conduct research on the  national debt.  Activity is available under Unit 6 Monetary and Fiscal Policy entitled Taxes and Spending Practice and Reasons for Concern about the National Debt.

Resources for researching National Debt:

http://www.cbsnews.com/news/national-debt-passes-16-trillion-should-you-worry/

http://theweek.com/articles/536307/dont-worry-aboutthe-rising-national-debt-seriously-just-dont

http://neweconomicperspectives.org/2013/08/the-five-worst-reasons-why-the-national-debt-should-matter-to-you-part-one-high-debt-levels-and-jobs.html

http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-national-debt-what-you-should-know/

http://mic.com/articles/73067/america-is-17-trillion-in-debt-here-s-why-you-shouldn-t-be-worried#.bxpd0NGfo

Presentation is available under Unit 6 Monetary and Fiscal Policy entitled Debt and Deficit and Reasons for Concern about the National Debt.

Presentation CLICK HERE

Taxes and Spending Practice CLICK HERE

Reasons for Concern CLICK HERE

Summarizer:

Students will take same quiz from Activator for a grade

 

Januray 31 2018

Essential Question:

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

a. Define fiscal policy.

b. Explain the government’s taxing and spending decisions.

EQ:  How can government use fiscal policy to affect the economy?

Activator:

Classnotes:

Fiscal Policy is the use of tax revenue and government spending to influence aggregate demand and the overall economy.  Fiscal policy is made by the federal government (Congress and President).

 

Expansionary Fiscal Policy

Contractionary Fiscal Policy

When:  During a Contraction

When: During Inflation

Actions:  Increase Government Spending

          Decrease Taxes

Actions: Decrease Government Spending

         Increase Taxes

Results:  Increase Aggregate Demand, Increase Real GDP, Decrease Unemployment, raise price level,  Economy will enter expansion

Results:  Decrease Aggregate Demand, Decrease Real GDP, Increase Unemployment, LOWER PRICE LEVEL, Economy will contract

 

Students will take prequiz that covers Fiscal Policy.

Teaching Strategies: 

Students will be introduced to the concept of Fiscal Policy.  They will learn about the two tools of Fiscal Policy, taxing and spending.  Students will fill out a graphic organizer that covers the basics of fiscal policy, this will help complete activities related to fiscal policy. Graphic Organizer is available under Unit 6 Monetary and Fiscal Policy entitled Fiscal Policy Graphic Organizer.pdf.

Students will then complete two practice problems that ask them to apply the tools of fiscal policy.  available under Unit 6 Monetary and Fiscal Policy entitled Fiscal Policy Practice.

Presentation CLICK HERE

Graphic Organizer CLICK HERE

Practice CLICK HERE

Summarizer:

Students will same take same quiz they took as a warm up to assess growth.

 

----Begin starts week after presidents day.

February 1 2018

Essential Question:

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

a. Define fiscal policy.

b. Explain the government’s taxing and spending decisions.

EQ: How can we use fiscal policy to influence the economy?

Activator:

Teaching Strategies: 

Students will be grouped based on Socrtaive results from previous day.  Students will work on scenarios that ask them apply the tools of fiscal policy.  Activity is available under Unit 6 Monetary and Fiscal Policy entitled Apply the Tools of Fiscal Policy.

Activity will be reviewed as a class. CLICK HERE

Summarizer:

Why is stagflation an especially difficult scenario?

 

NEXT WEEK-------------------

February 4 2018

Essential Question:

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

a. Define fiscal policy.

b. Explain the government’s taxing and spending decisions

EQ: How can we use fiscal policy to influence the economy?

Activator:

Explain work for today.

Teaching Strategies: 

In groups of two assigned by the teacher, students will work on a one day mini project.  Project asks them to apply the tools of fiscal policy.  It is recommended that the project be done on SHOWME, but an app may be used that all is required to start is to press play.  Instructions and rubric are avaliable under Unit 6 Monetary and Fiscal Policy.

Project CLICK HERE

Rubric CLICK HERE

Summarizer:

Remind students when work is due.

 

February 5 2018

Essential Question:

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

a. Define fiscal policy.

b. Explain the government’s taxing and spending decisions

EQ: How can we use fiscal policy to influence the economy?

Activator:

Final questions before quiz.  Review taxes and fiscal policy.

 

Teaching Strategies: 

Students will take a quiz that covers taxes and fiscal policy.

Summarizer:

Review quiz/ If time

 

February 6 2018

Essential Question:

SSEMA3 The student will explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.

a. Define fiscal policy.

b. Explain the government’s taxing and spending decisions

EQ: What is the problem with using fiscal policy to influence the economy?

Activator:

Students will read two quotes (one from Roosevelt, one from Hoover) and be asked to define in writing what the main point of each quote is.

Teaching Strategies: 

This will lead into a discussion of the problems with Fiscal Policy.  Presentation is available under Unit 6 Monetary and Fiscal Policy entitled Fiscal Policy Presentation.  Students will fill out a provided handout.  Handout is provided under Unit 6 Monetary and Fiscal Policy entitled Keynes vs. Hayek.pdf.

Handout CLICK HERE

Students will then watch and discuss two videos:

https://www.youtube.com/watch?v=w9ms2WOZi74  Start 12:00 end 17:08

https://www.youtube.com/watch?v=7uKnd6IEiO0

If time students will examine a video that covers the debate between Keynes and Hayek: https://www.youtube.com/watch?v=GTQnarzmTOc

Summarizer:

Students will respond in writing on what they believe is the key problem Hayek had with Keynes, and then critique Hayek's critique.

 

February 7 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

EQ:  What is the role and purpose of the Federal Reserve Bank?

Activator:

Classnotes:

The Federal Reserve is the organization that is in charge of monetary policy.  The leaders of the Federal Reserve are appointed by the President and confirmed by the Senate.  In addition to making monetary policy, the Federal Reserve provides various services to banks and regulates them.

(Federal Reserve Pyramid)

The Federal Open Market Committee is made up of the seven governors (including the chairman) and presidents of the twelve regional reserve banks.  This is the committee that makes monetary policy.

Socrative True/False Prequiz 

Teaching Strategies: 

Students will learn about the Federal Reserve System.  They will learn what it is, its structure its functions, and its purpose.

Presentation is viable under Unit 6 Monetary and Fiscal Policy entitled Federal Reserve System Presentation.pdf and Graphic Organizer is entitled Federal Reserve GO.pdf.

Presentation CLICK HERE

Graphic Organizer CLICK HERE

Summarizer:

Same Socrative True/False Prequiz the students took as an activator

 

February 8 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

b. Define monetary policy.

c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

EQ:  What are the macroeconomic tools of the Federal Reserve?

Activator:

Classnotes:

Open Market Operations:  The buying and selling of government securities on the open market.

Interest Rates:

    Discount Rate- Interest rate the Federal Reserve charges banks for loans.

    Federal Funds Rate – Interest rate banks charge one another for loans.

Required Reserve Ratio:  The percentage of deposits that banks must keep on hand and cannot loan out.

Interest on Reserves-The Federal Reserve pays interest on the required and excess reserves of financial institutions. If the Federal Reserve changes the interest rate on excess reserves, it changes the incentive financial institutions have to keep their reserves with the Fed, increasing or decreasing the money supply.

 

Students will answer the following question on a sheet of paper: Give three levels of the Federal Reserve, 2 functions of the Federal Reserve, 1 purpose of the Federal Reserve.  

Teaching Strategies: 

Students will learn about the tools of Monetary Policy.  These tools include Open Market Operations, Required Reserve Ration, and Interest Rates.

Presentation available under Unit 7 Monetary and Fiscal Policy entitled Tools of monetary policy visualized Presentation.pdf. and Monetary Policy Notes Presentation.pdf.

Graphic organizer is available under Unit 7 Monetary and Fiscal Policy reinstituted Monetary Policy GO.pdf.

Presentation 1 CLICK HERE

Presentation 2 CLICK HERE

Graphic Organizer (will be done as an activator on next day) CLICK HERE

Graphic Organizer 2 CLICK HERE

Summarizer:

Socrative postquiz covering tools of Monetary Policy/ Main goal of Monetary Policy

 

NEXT WEEK--------

 

February 11 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

b. Define monetary policy.

c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

EQ:  What are the macroeconomic tools of the Federal Reserve?

Activator:

Classnotes:

 

Expansionary Monetary Policy

Contractionary Monetary Policy

When:  During a contraction

When: During inflation

Actions:  The FR BUYS securities from banks, lowers interest rates, lowers interest on reserves, and can lower the Required Reserve Ratio

Actions:  The FR SELLS securities to banks, raises interest rates, raises interest on reserves, and can raise the Required Reserve Ratio

Results:  Banks have more money to loan, more loans are given, more investment by businesses, AD increases

Results: Banks have less money to loan, fewer loans are given, less investment by businesses, AD falls.

 

 

Students will complete graphic organizer that covers the tools of Monetary Policy and how they are used to influence an economy.  Graphic organizer is available under Unit 7 Monetary and Fiscal Policy entitled Monetary Policy Tools GO-0.pdf

Graphic Organizer CLICK HERE

Socrative prequiz (if time)  If Socrative is taken will be used to group students.

Teaching Strategies: 

Students will then work through two scenarios that show the tools of Monetary Policy work.  One or both of these may be done as a class.  Activity is available under Unit 6 Monetary and Fiscal Policy entitled Monetary Policy Group Assignment.pdf.

Assignment CLICK HERE

Summarizer:

Same Socrative  Prequiz the students took as an activator.  If Socrative prequiz was not taken will review problems as a class.

 

February 12 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

b. Define monetary policy.

c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

EQ:  What are the macroeconomic tools of the Federal Reserve?

Activator:

Classnotes:

Describe how the Federal Reserve uses the tools of monetary policy to promote its dual

mandate of price stability and full employment, and how those affect economic growth.

The Federal Reserve uses monetary policy to achieve its congressionally mandated goals of price stability and full employment.

 

Review on how tools of Monetary Policy influence AS and AD.  Students will graph on their own paper.

Teaching Strategies: 

Students will work through several scenarios that ask them to apply the tools of monetary policy.  They will also be asked to see how the actions tie together.  We will review as a class.

Activity is avialiable under Unit 6 Monetary and Fiscal Policy entitled Apply the Tools of Monetary Policy.

Activity CLICK HERE

Summarizer:

Socrative Exit/ Questions on Monetary Policy for Quiz on Monday

 

February 13 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

b. Define monetary policy.

c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

EQ:  What are the macroeconomic tools of the Federal Reserve?

Activator:

Who makes Monetary Policy?  How is the Federal Reserve Organized?

Teaching Strategies: 

Quick review/ answer questions on monetary policy.

Topics Review include the Federal Reserve, the discount rate, the Federal Funds Rate, Required Reserved Ratio, and Open Market Operations.

Students will complete a Nearpod that covers these topics.  Nearpod Homework Code: DFSIL.

Nearpod titled Monetary Policy Quiz Review.

Students will take a quiz on Monetary Policy.

Summarizer:

If time/ Go over quiz

 

February 14 2018

Essential Question:

SSEMA2 The student will explain the role and functions of the Federal Reserve System.

a. Describe the organization of the Federal Reserve System.

b. Define monetary policy.

c. Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

EQ:  What are the macroeconomic tools of the Federal Reserve?

Activator:

What are the tools of Fiscal Policy?  What are the tools of Monetary Policy?

Teaching Strategies: 

Provide instructions for one day project.

Students will complete a one day project comparing fiscal and monetary.  The project will complete completed on an App of their choice and project instructions provide exactly what points the students should address.

Project is avaliable under Unit 6 Monetary and Fiscal Policy Entitled Monetary vs Fiscal Policy Project.pdf.

Project CLICK HERE

Summarizer:

Students will submit Project.

 

February 15 2018

Essential Question:

All Monetary and Fiscal Policy Standards and EQs Apply Test  Day

Activator:

Give me one tool of monetary policy and one tool of fiscal policy that can be used to combat a recession.

Teaching Strategies: 

Students will differentiate between Fiscal and Monetary Policy by completing  a handout that covers both monetary and fiscal policy.  Handout is available under Unit 6 Monetary and  Fiscal Policy entitled Fiscal Policy vs. Monetary policy.pdf.

Handout CLICK HERE

Study Guide CLICK HERE

Students will also be provided two different Nearpod reviews.  Nearpod Codes FVKSM and IADMS.  First Nearpod covers topics at a very basic level and is fill in the blank, second takes a more indepth look at the topics.

Nearpods entitled Monetary and Fiscal Review and Monetary and Fiscal Policy Review

Students will then complete two Kahoots that cover Fiscal and Monetary Policies and Debt and Deficit

Summarizer:

Socrative exit

 

 

----NEXT WEEK

 

 

February 18 2018

Essential Question:

All Monetary and Fiscal Policy Standards and EQs Apply Test  Day

Activator:

What final questions do you have about Monetary and Fiscal Policy?

Teaching Strategies: 

Students will take a test on Monetary and Fiscal Policy.

Summarizer:

None test day

 

 

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