Lesson on Friday, April 28, 2017

Aim: If prices act as "signals," do we all react to the signals in exactly the same way?  

 Bell Ringer: Current Events

Objectives:

1. Students will explain ways firms engage in price and nonprice competition.  

2. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place. 

Agenda:

1.Bell Ringer (10 min) 

2.Check HW / grade journals 71-80 

3. Have students complete the note-taking guide (Prices and Decision Making) using their textbook (McGraw-Hill Economics Principles and Practices pp. 142-167), online resources, or class notes as appropriate. Teachers may want to guide students through completing the notes, have students work in small groups, or independently. (rest of class) 

4. Grade Journals 71-80

Home Learning: Complete your Prices and Decision Making NTG 

Section 3 Review, Questions 2, 3, and 7 as Journal 81

Quizlet link to study for this chapter: https://quizlet.com/61919437/economics-principles-and-practices-chapter-6-flash-cards/

Lesson on Thursday, April 27, 2017

Aim: If prices act as "signals," do we all react to the signals in exactly the same way?

Bell Ringer: Read 'CASE STUDY: I Bought It on eBay' 

Objectives:
1. Students will explain ways firms engage in price and nonprice competition.
2. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

Agenda:

1.Bell Ringer (5 min) 

2.Analyzing the Impact (p. 147) (5 min) 

3.Review the main points of Section 2. (10 min)

Home Learning: Section 2 Review #s 2, 3, and 6 as journal 80 / work on your Prices note-taking guide. 

Lesson on Wednesday, April 26, 2017

Aim: If prices act as "signals," do we all react to the signals in exactly the same way?

Bell Ringer: Grade & review previous test.

Objectives:
1. Students will explain ways firms engage in price and nonprice competition.
2. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

Agenda:
1. Bell Ringer (10 min)
2. Brainpop: Comparing Prices
3. Journal 78 – As you read section 1, complete a graphic organizer similar to the one below by explaining the advantages of prices.
4. Read on page 143 "Products in the News" and intro to the chapter. (5 min)
5. Assign sections
6. Have students complete the note-taking guide (Prices and Decision Making) using their textbook (McGraw-Hill Economics Principles and Practices pp. 142-167), online resources, or class notes as appropriate. Teachers may want to guide students through completing the notes, have students work in small groups, or independently. (rest of class)

Home Learning: Section 1 Review / Questions 3 and 5 

Journal 79 – Assume that there is a gasoline shortage and your state has imposed rationing. Write a paragraph about how this might affect you, your family, and your community.

Lesson on Tuesday, April 25, 2017

*********SUPPLY UNIT TEST***********

Lesson on Monday, April 24, 2017

Aim: What is supply?  

 Bell Ringer: continue presentations.

Objectives:

1.Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.  

2.Students will graph and explain how firms determine price and output through marginal cost analysis.

Agenda:

1.               Bell Ringer (10 min) 

2.               Complete Concept Map and Supply note-taking guide presentations. (rest of class)  

3.               Have students complete the note-taking guide as each group presents their designated topic

Home Learning: Study for tomorrow’s test using the NTG

Lesson on Friday, April 21, 2017

Aim: What is supply?

Bell Ringer: Journal 77 – How did Chenault's decision improve American Express? Do you agree with Chenault's claim that being adaptable to changes is the most important strategy for a successful business?

Objectives: 

1. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

2. Students will graph and explain how firms determine price and output through marginal cost analysis.

Agenda:

1. Bell Ringer (10 min)

2. Profiles in Economics (p. 102) (10 min) - to be completed behind the NTG.

3. Complete Concept Map and Supply note-taking guide presentations. (rest of class)

4. Have students complete the note-taking guide as each group presents their designated topic.

Home Learning: Review your NTG as a study guide for Tuesday's test.

Lesson on Thursday, April 20, 2017

Aim: What is supply?

Bell Ringer: Journal 76 – What is causing the supply of organic products to fall short of meeting the demand? What changes need to take place for the supply or organic products to increase? (Use "Case Study" to answer the questions.

Objectives:

1.  Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

2.  Students will graph and explain how firms determine price and output through marginal cost analysis.

Agenda:

1. Bell Ringer (10 min)

2. Case Study

3. Concept Map and Supply note-taking guide presentations. (rest of class)

4. Have students complete the note-taking guide as each group presents their designated topic

Home Learning: Read "Profiles in Economics" on page 131

Lesson on Wednesday, April 19, 2017

Aim: What is supply?

Bell Ringer: Journal 75 – Draw a Supply Curve graph. Choose a product and describe its supply curve. You may want to look up supply curves in your textbook or online.

Objectives:

1. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

2. Students will graph and explain how firms determine price and output through marginal cost analysis.

Agenda:

1. Bell Ringer (15 min)

2. Have students work on a concept map about their assigned section of the What is Supply? note-taking guide. (rest of class)

Home Learning: Read "Case Study" on page 126

Lesson on Tuesday, April 18, 2017

Aim: What is supply?

Bell Ringer: Check and grade Spring Break HW "My Monthly Budget"

Objectives:

1. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

2. Students will graph and explain how firms determine price and output through marginal cost analysis.

Agenda:

1. Bell Ringer (10 min)

2. YouTube video on supply curve: https://www.youtube.com/watch?v=nKvrbOq1OfI and https://www.youtube.com/watch?v=6Q_XxwqtwxY

3. Journal 74 – Describe the supply curve as described on both videos.

4. Complete the note-taking guide (Supply) using their textbook (McGraw-Hill Economics Principles and Practices pp. 116- 141) (rest of class)

Home Learning: Complete your section of NTG

Lesson on Monday April 17, 2017

Aim: What is supply?  

 Bell Ringer: Review Demand Test

Objectives:

1. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place. 

Agenda:

1.Bell Ringer (10 min) 

2.YouTube video on supply: https://www.youtube.com/watch?v=AdjdWCQbQh8  

3.Journal 73 – What are the three factors of supply as described in the YouTube video. (10  min) 

4.Have students complete the note-taking guide (Supply) using their textbook (McGraw-Hill Economics Principles and Practices pp. 116-141), online resources, or class notes as appropriate. Teachers may want to guide students through completing the notes, have students work in small groups, or independently. (rest of class) 

Home Learning: Complete your section of the NTG

Lesson on Wednesday, April 5, 2017

Today we had the Demand Unit Test. Please make sure you make it up BEFORE Spring Break. 

Lesson on Monday, April 3, 2017

Aim: Why do economists call the demand curve one of the main "tools" of their profession?

Bell Ringer: Journal 72 – Describe the difference between elastic demand and inelastic demand. P. 104

Objectives:

1. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.

Agenda:

1. Bell Ringer (10 min)

2. Profiles in Economics (p. 102) (10 min) - to be completed behind the NTG.

3. Complete Concept Map and Business Organization note-taking guide presentations. (rest of class)

4. Have students complete the note-taking guide as each group presents their designated topic.

Home Learning:

1. Review NTG and Concept Map to review for the test.

2. Building Wealth pages 8 and 9

3. Read page110-111 to prepare for tomorrow's test. (Change in Demand in particular)