Thursday, February 7, 2013

Period 6: What Is Economics? Day 2

The warm up today was about soda and newspaper vending machines. This is a picture from a supermarket in San Jose, Costa Rica that I took in 2011. Apparently Coca-Cola is in abundant supply there!


Dear class,

I really appreciated the focus and effort today, especially during the reading time for Chapter 1. You are off to a great start! Remember that if terms/questions do not make sense, we will be going over them again and again in the upcoming classes.

Soundtrack: “That’s Life” by Frank Sinatra. Chosen because there is an element of "that's life" with this class, simply because we are going to make sure what we are learning is gone over multiple times in multiple ways. Lyrics here.

AGENDA 2/7/13:
Warm Up/Letters Back
Miniature Earth
Read Chapter 1

Homework: Finish learning target questions for next class (for notes on test).

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Warm Up: The first warm up question of the year was: "Why are newspapers, but not soft drinks, sold in vending machines that allow customers to take more units than they pay for?" As with every class from now on, I had you get out your economics notebooks (it was part of your homework to get one) and respond to the warm up question. There were some interesting responses! The main concept I wanted to make sure we went over was Marginal Utility (in this case, the diminishing marginal utility of extra newspapers vs. extra sodas).

Miniature Earth: Next, I showed the class this short film about some interesting statistics in regards to world inequality and had students respond to the prompt: "Why is this relevant to economics?" Here is the video that we watched:




The main concept here was "scarcity" - basically, that there are almost unlimited human desires for resources and a limited (or scarce) amount of them.

Read Chapter 1: After discussing the video for a while, I gave the class the first learning targets to read and know in Chapter 1. The rest of the class was devoted to quietly reading and writing the answers to these. Here is the learning target sheet, if you lost it or missed class:



Again, if you have these questions done by the start of next class, you will get to use a note card on the chapter test. Next class, we will be going through a PowerPoint very thoroughly (I know, I know, but necessary so that everyone understands the terms) to continue preparing for the first chapter test.

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