The Economics of the Lorax
You have a few options today for class. Here they are...
Thanks so much for a great semester and good luck with the rest of the school year!
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Your to-do listPlease start off class by working on your final: The Economics Pop Culture Library. Remember that is due at the end of class. The Economics of the LoraxThe Lorax allows us to explore a number of economic concepts that we did not cover during our course. We will begin by investigating a number of new concepts and then see if we can find them in the movie. Please head to the Economics of the Lorax activity on Google Classroom for the resources you need.
Your to-do listYou have our time before lunch to keep working on your final. Once we return, we will begin the Macroeconomics Unit Test.
Please remember that your final is due on Tuesday the 16th, our next class. Monetary PolicyLet's begin by completing our work on Monetary Policy. Please take out the notes from the last class. Macroeconomics ReviewDon't forget your final!You will have some class time to work on it in the coming days but remember that it is due on Tuesday the 16th.
Your to-do list
Fiscal Policy
We've studied the business cycle and know that our economy has its ups and downs. It's great when it's headed up...
But we tend to trend back to equilibrium...
And sometimes we go past it and just lose.
That's where our government intervenes and tries to help us out. The two tools are fiscal and monetary policy. To start we'll focus on Congress' tool: fiscal policy.
The Fiscal Ship
Fiscal policy refers to actions taken by the Legislature regarding spending and revenue, or taxes. Put simply, this is the beginning of how the government pays for all of its programs and collects the revenue to do so. While the government does have other tools at its disposal, it all starts from here. And much like us, it has to find a way to pay for everything it wants. Head to the Fiscal Ship game to see if you can get the United States the programs you think it needs and deal with the debt that we are in. Post an image of your plan details to the Fiscal Ship activity on Google Classroom.
Monetary Policy
While she’s not in charge of Monetary Policy in the United States anymore, Janet Yellen is still worth knowing about and this song is a great place to start.
We just learned about how Congress controls the economy. Today, we'll take a look at how the Federal Reserve does it. Your homework
Please complete the Macroeconomics Review Sheet for our next class on Tuesday.
Your to-do list
What is inflation?So you've probably heard of inflation but what is it exactly and why does it happen? Please head to Nearpod to follow along with our lesson. What's in the Market Basket?How is inflation calculated? It takes looking at a market basket full of goods. Calculating InflationWant to find out how the value of money has changed over time? Was that 5 cent item in 1950 really cheaper than its $1 counterpart in 2021? Please complete the Calculating Inflation assignment for our next class to find out.
Your to-do list
The Business Cycle
Can economists predict when the next wave of unemployment is coming? No, they are unfortunately very bad at that. But they can tell you that it's coming. The Business Cycle shows us that. Let's see how real world actions live on this graph and we know that the cycle will continue.
The market for trees
Let's see how market forces influence the market for Christmas trees. NPR's Planet Money heads out to buy and sell some Christmas trees. Let's listen to their show and see how they do.
What's the best gift?Inflation and the Twelve Days of Christmas
Check out the PNC Christmas Price Index to see how much your true love is spending on all those gifts.
Have a great vacation!Your to-do list:
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Head to the U.S. Bureau of Labor Statistics website. See if you can find out what the unemployment rate is for the United States. For Maine. For the Portland, Maine area. For another state. You'll find the information you need under the Data Tools. From there use the Regions, States, and Areas link to gather the information you need,
Record the information you find at the What's our unemployment question on Google Classroom. |
What is unemployment? It may not be as simple as it may seem. For example, not everyone without a job is unemployed. The mark of a strong economy may not be that everyone is working. In fact, we may be totally fine with some people being unemployed.
Grab the Unemployment notes from Google Classroom and head to Nearpod to learn more. |
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