Period 6: Demand, Day 1

This is a picture of two slices of pizza that I enjoyed in New York City in 2009. Pizza is a great example of diminishing marginal utility. One slice is very high in desirability. The second slice might be high, but not as high. Thank goodness there wasn't a third slice in this scenario, because I don't think I would have been able to eat it!

Dear class,

Yeah, it was one of those days with a lot of lecturing about content. I know it was not the most interesting class. I'll try to find different ways to help you understand the concepts. Hopefully, reading this recap and checking out the PowerPoint will be beneficial for you!

Soundtrack: “A Change Is Gonna Come” by Sam Cooke. Selected because the last slide of the PowerPoint was about changes to demand. Lyrics here.

AGENDA 4/10/13:
Warm Up/LT Check
Chapter 3 PowerPoint
Demand Article Analysis

Homework: Finish the financial collapse paper if you have not done so (due by tomorrow if you want to not have a zero on it for your quarter grades). Check the blog!

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Warm Up/LT Check: As the class was answering the warm up question, I went around and checked to see who had done the Chapter 3 Learning Targets, for a note card on the Chapter 3 test. The warm up question for today (#15 in your notebook) was: Why do most department stores place men’s fashions on the lower floors and women’s fashions on the higher floors?

Chapter 3 PowerPoint: I tried as best as I could in class to explain this carefully and thoroughly. If you do not understand the terms and concepts, please let me know and I will try to explain them again! I think I might have to come up with another illustration of the shift in demand charts, as that one seemed to be difficult. Here's the PowerPoint, if you want to review it:

Google Drive: Chapter 3 - Demand PowerPoint

Knowing these concepts are key to passing the Chapter 3 test!

Demand Article Analysis: We didn't have a whole lot of time to start with this, so we will do most of the assignment in class next week. If you missed class, here is the assignment: we are reading three articles that have to do with demand (in some way), and writing in your notebook about them.

Google Drive: Demand Articles Assignment

Next class, I will link to the three articles we are analyzing. Just come to class ready to work on this next week, please.

Thank you!

Period 6: Free Enterprise, Day 3

Today's warm up had to do with flights to and from Hawaii. Here's a picture I took from the top of Diamond's Head crater, looking out on Honolulu and the Pacific Ocean. Why would you want to leave this, if you didn't have to for business? That was a main reason why airfares are higher from Hawaii to the mainland.

Hi everyone,

Another good class today - I'm sort of glad that we did not finish the PowerPoint, because it meant less talking by me during class! We will pick back up next class. If you would like to review, the presentation is below.

Soundtrack: "Regulate" by Warren G and Nate Dogg. Picked for today because the regulation of Wall Street and the mortgage backed securities was sorely lacking before the financial crisis. Lyrics (somewhat dirty, but not too bad) here.

AGENDA 3/4/13:

Warm Up/LT Check

Another Frightening Show

Chapter 2 LT PowerPoint

Homework: Read the blog. Finish learning targets if you did not already!

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Warm Up: The warm up question for today (#8 overall) was: Why are round-trip fares from Hawaii to the mainland higher than the corresponding fares from the mainland to Hawaii?

I talked a little bit about this above, but the reason is because vacation travelers have all sorts of opportunity costs at play with where they select to go to. Thus, airlines need to be competitive for the vacation travelers from the mainland, where the most frequent passenger from Hawaii to the mainland are business people, which really HAVE to be on a flight (there isn't much choice there).

While you were writing the warm up, I was checking off completed learning targets. If you did these for today, you get to use a note card on the Chapter 2 test. If you did not complete them, you still need to get them done ASAP!

Another Frightening Show: We listened to the first part of this podcast: ThisAmericanLife.org - "Another Frightening Show About the Economy" Here's the transcript and definitions that we looked at in class: 

Google Drive: "Another Frightening Show" Definitions and Part 1 Transcript

You need to have these definitions written down. At the end of this section, I had students write in your economics notebooks to put the podcast in your own words. We will continue doing this in future classes, too.

Chapter 2 LT PowerPoint: We were able to get through about half of the presentation. Next class, we will finish this. Thanks for taking notes and paying attention. Here it is if you want to preview next class, or review what I talked about in class:

Google Drive: Chapter 2 - Free Enterprise Learning Targets PowerPoint

See you on Wednesday!

Period 6: What is Economics? Day 6

I talked today about booking flights to Europe because of a company mixing up my ticket order for the Men's Basketball Gold Medal game at the London Olympics. It worked out. Eventually, I had these seats with my brother for that game (this picture was taken from our row) and I had a lot of free credit for flights. Good times. Satisfied consumer/customer. :-)

Hi everyone,

Hopefully today was a nice and easy day of review. Read on for some links that might help you study for the Chapter 1 test, on Friday.

Soundtrack: “The Hardest Part” by Coldplay. Chosen for today because the hardest part of the chapter 1 test should be reviewing - the test itself should be a breeze. Lyrics here.

AGENDA 2/20/13:

Warm Up

Finish Chapter 1 Review

Study for Chapter 1 Test

Homework: Finish Chapter 1 review packet. Read the blog. Bring 3 x 5 card of notes for test if you completed the Learning Targets HW on time. Study up!

Warm Up: Today's warm up question (#5 in your notebook) was: Why are seat belts required in cars, but not in school buses?

Plenty of great responses and discussion here. This is the somewhat lengthy reasoning I found for the answer: ThinkGeek.com - Why are There No Seatbelts on School Buses?

I think it is crazy that you have to sit three to a row on the bus to come to school! The times are a changing, I guess. The high schools in Portland Public don't even use buses at all.

Finish Chapter 1 Review: As it sounds, I had the class continue to work on the Chapter 1 review packet, which will be due next class. We will go over it together next class, before the test (I will give you plenty of time to do the test). In case you missed class or somehow forgot the review packet, here it is to download:

Google Drive: Chapter 1 Review Packet

There are some questions on the review packet that you do not have to answer - a couple of the crossword terms I couldn't even figure out, myself! Just try your best, please. This will help on the chapter 1 test, because it will be on the same exact terms.

Study for Chapter 1 Test: This was going to be a section of class for writing out note cards and studying, but much of the class did not finish the review. Just in case you would like to prepare at home, here is the Chapter 1 PowerPoint on the learning targets:

Google Drive: Chapter 1 Learning Targets PowerPoint

All good? Let me know if I can clear anything up or otherwise help you get ready for the test on Friday! It will be multiple choice/scantron, with two short answer questions. See you on Friday!

Period 6: What is Economics? Day 3

Three cars in Bogota, Colombia in 2009. The colors of the Colombian flag! 
I wonder if they all have gas tank doors on the same side?

Hi everyone,

Wow, a LOT of talking from me today in class. I hope that it helped you understand what the learning targets to Chapter 1 are, because if it didn't, I'm pretty sure I just bored everyone out of your minds. Let me know how I might be able to improve in the future, if possible!

Soundtrack: “Tell Me What You Want (And I’ll Give You What You Need)” by The Doobie Brothers. Chosen for today because of our looking at how a market economy works, with the "want-satisfaction" chain. Lyrics here.

AGENDA 2/11/13:

Warm Up/LT Check

Chapter 1 PowerPoint

The Story of Stuff

Homework: Read the blog (comment if you have not already), review Chapter 1 learning targets.

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Warm Up/LT Check: Today's warm up (#2) was answering this question - Why do cars have gas tank doors on different sides? 

Lots of good opinions here. Here's the answer to the question, from an economist's perspective: PBS.org - Why Do Cars Have Fuel Doors on Different Sides?

During this time, I went around the room to check and see if students had completed the chapter 1 learning targets. If you did complete this by today, you will get to use a note card on the chapter 1 test. If you did not finish them yet, you will still need to have them done by the notebook check.

Chapter 1 PowerPoint: Wow, again, so long. I would have had the class take a break in the middle if I had known it would take that amount of time to go through. I really appreciated all of the responses, possible examples, and questions! One question that was brought up was the difference between "Opportunity Cost" and "Marginal Cost." Here's a better explanation than what I was able to give in class.

Here is the Chapter 1 PowerPoint to review again for your upcoming test. If you did not complete your learning targets, this contains the answers.

Google Drive: Chapter 1 - What is Economics? PowerPoint

I think this section went well, even if it was really lengthy. Thank you for hanging in there with me!

The Story of Stuff: We made it about halfway through this controversial film. Again, I am not saying that the video is right or wrong. I do think it is an interesting perspective that is worth listening to and discussing. We will come back to this next class. If you missed it, we were able to get to about 9:47 in, and the class is taking notes on the five stages it addresses: Extraction – Production – Distribution – Consumption - Disposal

Here is a link to the video: YouTube.com - The Story of Stuff (2007)

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We will come back to this next class, then begin the Chapter 1 review. Some of you asked when the Chapter 1 test would be. At this rate, it will be next Wednesday (remember that there is no school on Monday).