Economics covers the principles of economics as it relates to consumers, producers, entrepreneurs, governments, and foreign competitors. Students will explore individual, business, and government economic choices, competitive markets, supply, demand, and the role of government in market economies. Students will understand national markets and the role of the American government in the national market. Students will appraise global economic systems and interdependence in international markets, as well as making personal decisions regarding personal finance.
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Mr. Christian Carpenter Social Studies teacher at Clintondale High School (Room 204)
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
Explain why producers look at productivity when making supply decisions
Describe how varying levels of input affects the levels of output
Explain how changes in production costs affect producers’ supply decisions
⏰ What We Did
Used instructional notes from Lesson 4, Part 3: Making Production Decisions, to calculate revenue, costs, and profit at various price points to determine the ideal price for a good
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Passed back and went over "Plotting Demand Curves" from last Thursday
Describe how demand differs from the quantity demanded
Explain what the law of demand states
Explain what demand schedules and demand curves illustrate
Individually and collaboratively, students will engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Watched and took instructional notes on Lesson 3, Part 1: Nature of Demand
Continued playing "Business Strategy," incorporating concepts from today's lesson into the game
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Finished learning how to play "Business Strategy," making decisions on whether to take out a loan and making capital improvements (ordering more factories)
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Continued learning how to play "Business Strategy," making production decisions (turning RMUs into finished inventory units [FIUs]) and selling FIUs
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Continued learning how to play "Business Strategy," calculating initial expenses for each company and bidding to buy raw material purchases (RMUs) for the first round ("month")
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Conducted the P3 Economics binder check
Continued learning how to play "Business Strategy," calculating initial expenses for each company and bidding to buy raw material purchases (RMUs) for the first round ("month") (NOTE: The game was postponed because the Federal Reverse Bank did not have money; the H.S. Mint did not have it prepared)
Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices
⏰ What We Did
Begin learning how to play "Business Strategy," organizing into groups ("companies") and providing an overview of the game