Economics Agenda for 9/23 to 10/11 **Subject to Change

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Economics Agenda for 9/23 to 10/11

**Subject to Change**

Monday, September 23, 2013/Tuesday, September 24,

2013: (Objectives: Students will be able to: 1) Explain the Law of Demand; and 2) Identify the difference between an individual demand curve and a market demand curve)

 Welcome!

 Unit 1 TEST

 Warm Up: Demand----A "Product" everyone wants blind auction

(small groups)

 Notes: Demand, Demand Curves, Demand Shifts

 Pair Activity: Demand Worksheet

 Closing: Review Questions on Slides

 Homework: Finish the Activity

Wednesday, September 25, 2013/Thursday, September 26,

2013: (Objectives: Students will be able to: 1) Explain the Law of Demand; and 2) Identify the difference between an individual demand curve and a market demand curve)

Welcome!

 Warm Up: Review of Demand Relationship

 Notes: Law of Demand

Pair Activity: Practicing Demand

 Review the Activity

 Closing: Review Questions from slides

 Homework: NONE

Friday, September 27, 2013/Monday, September 30,

2013: (Objectives: Students will be able to: 1) Identify the difference between movement along the demand curve and a shift in demand; and 2)

Identify the "shifters" of demand)

 Welcome!

 Warm Up

 Notes: Demand Shifts

 Groups: Create advertisement to increase demand of a product

 Present advertisements

 Closing Activity: How would you shift demand curve left for Internet

Book Sales

 Homework: NONE

Tuesday, October 1, 2013/Wednesday, October 2,

2013: (Objectives: Students will be able to: 1) Identify the shifters of demand; 2) define the "Law of Supply"; and 3) Understand how supply and demand work together, and relate the law of supply and demand to everyday life)

 Welcome!

Warm Up: Shifters of Demand

 Activity: Supply--Points

 Notes: Supply---and Demand

Activity: Elasticity of Products (Groups---come up with 5 elastic products and why---personal INELASTIC goods)

 Homework: Family Poll---what goods or services are INELASTIC to your family (either as a whole or by individual)? Why are they inelastic? What do you think are the factors that influence elasticity of demand? 3-4 paragraphs

Thursday, October 3, 2013/Friday, October 4, 2013: (Objectives: Students will be able to: 1) Define the "Law of Supply"; 2) explain how supply and demand work together in a perfectly competitive market; and 3) Define

"elasticity" and apply it to everyday household items)

Welcome!

 Warm Up: Supply Curve--define it

 Notes: Supply and Demand

Group Activity: Elasticity of Products---(Groups come up with 5 elastic products and why; also personal INELASTIC goods)

 Homework: Family Poll---What goods or services are inelastic to your family, either as a whole or by individual? Why are they inelastic? What do you think are the factors that influence elasticity of demand? 3-4 paragraphs

Monday, October 7, 2013/Tuesday, October 8, 2013: (Objectives: Students will be able to: 1) Review the Laws of Supply and Demand; 2) Correctly

Identify Shifts in the Supply/Demand Curves; and 3) Explain Elasticity)

 Welcome!

 Collect and Review Homework: Family Poll

Finish Supply and Demand Notes

 Pair Activity: Analyzing Headlines (TEACH TCI)

Closing: Review Headline activity

 Homework: NONE

Wednesday, October 9, 2013/Thursday, October 10,

2013: (Objectives: Students will be able to: 1) Analyze the relationship

between Supply and Demand in setting market prices; 2) Create and Graph

Supply and Demand schedules)

Welcome!

Review Curve Shifter Headlines Activity---Collect

 Warm Up: Is the Price Really Right? (TCI)

Activity: Banana Market

Notes: Supply, Demand, and Market Equilibrium

 Homework: NONE

Friday, October 11, 2013/Tuesday, October 15, 2013: (Objectives: Students will be able to: 1) Analyze the relationship between Supply and Demand in setting market prices; 2) Create and Graph Supply and Demand schedules; and 3) Examine the impact of price ceilings and floors on markets)

Welcome!

Continue Exercise from last class---Graph results from previous

 class

Go over strategies, results, etc. from Rounds 1-3

Textbook reading (Pairs)---What happens when Demand meets

Supply?

 Conduct Rounds 4 and 5

 Questions from TCI concluding activity

 Notes---Market Equilibrium and Prices

 Closing---Begin class debate on Minimum Wage (Price floor)

 Homework: None

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