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Unit 1: Basic economic concepts

Date

Agenda

Homework

IB HL 
 8.17

Introduction to AP Economics presentation
Check out textbook, quick tour of website

Read syllabus and bring questions to the next class

 
 8.21

The Economic Way of Thinking: The Economic Trilogy presentation
Scarcity questions handout
Economic Way of Thinking handout

Notes module 1 (focus on definitions over graphs)

 Development IA
 8.23  Marginal analysis presentation
Marginal analysis handout
 MC module 1
 
 8.27 Finish marginal analysis
Dollar auction application assignment
​Factors of production presentation
 Notes module 3  
 8.29  Production possibilities curves presentation
PPC handout
Multiple choice test taking strategies handout
(If you're absent, here are a couple of videos about PPCs that you should watch: 
https://www.youtube.com/watch?v=83m0_pCky50 and https://www.youtube.com/watch?v=iEpgSkzXuT8)
 Notes module 4
MC module 3
​Study for quiz #1
 Development IA
 8.31
SUB
Shackett's introduction video 
Quiz #1 (trilogy, marginal analysis, PPCs)
​Read chapter 3 from The Choice: Why doesn't Ed do his own typing? How does the roundabout way to wealth work? Why is that chapter than making TVs in America? What happens to the PPC model when countries specialize and trade, and why?
Comparative advantage video link
Comparative advantage worksheets
 MC module 4
Comparative advantage assignment
 
 9.5 Absolute and comparative advantage, specialization and trade presentation
KaratEconomics link
Play Desert Island game: http://desertisland.learnliberty.org/
 
Optional: additional comparative advantage problems
​Optional: quiz corrections
 
 9.7  FRQ tips handout
Quiz #2 (comparative advantage, absolute advantage, economic systems)
Simple circular flow of the economy presentation
​Economic systems, property rights, incentives presentation
Review for exam #1
If you want a little more about economic systems, read pp. 102-103 and do MC #1 on p. 111
Study for exam #1. The objectives for this unit is here!

ALTERNATE UNIT 1 EXAM MC link
ALTERNATE UNIT 1 FRQs link
 Finish Development IA after you take quiz #2
 9.11  Exam #1 over unit 1 content
Introduce product market unit
​Supply and demand dance, man link
 Notes module 5  
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