ECONOMICS FOR THE WEEK STARTING 4/14/14 MONDAY DAY 2 4/14 TUESDAY DAY 1 4/15 WED. Day 2 4/16 THURSDAY Day 1 4/17 FRIDAY Day 2 4/18 CLASS: CLASS: CLASS: 1. Notes: Perfect Competition and Monopolies CLASS: CLASS: ECONOMICS MIDTERM EXAM 1. Ch. 7 Quiz (Market Structures) 3. Reading The NFL’s New Turf (Textbook) 2. Simulation: Cartels and Competition CLASS OBJECTIVES: CLASS OBJECTIVES: CLASS OBJECTIVES: ) STUDENTS WILL BE ABLE TO IDENTIFY THE ADVANTAGES & DISADVANTAGES OF MONOPOLIES. 1) STUDENTS WILL BE ABLE TO IDENTIFY THE ADVANTAGES & DISADVANTAGES OF MONOPOLIES. 2) STUDENTS WILL BE ABLE TO DISTINGUISH BETWEEN NATURAL MONOPOLIES AND STRUCTURED MONOPOLIES 2) STUDENTS WILL BE ABLE TO DISTINGUISH BETWEEN NATURAL MONOPOLIES AND STRUCTURED MONOPOLIES 3) CLASS OBJECTIVES: CLASS OBJECTIVES: Explain how market principles apply to the monopolistic structure of cartels VOCAB: ECONOMIES OF SCALE PRICE DISCRIMINATION PATENT FRANCHISE NATURAL MONOPOLY PERFECT COMPETITION BARRIER TO ENTRY IMPERFECT COMPETITION START-UP COSTS PRACTICE: Read Ch. 7 / Sec. 1 and 2 (pgs. 159-173) Complete Grid VOCAB: VOCAB: MONOPOLY VOCAB: ECONOMIES OF SCALE PRICE DISCRIMINATION PATENT FRANCHISE NATURAL MONOPOLY PERFECT COMPETITION BARRIER TO ENTRY IMPERFECT COMPETITION START-UP COSTS PRACTICE: PRACTICE: Read Ch. 7 / Sec. 3 (pg. 155-159) VOCAB: CARTELS PRACTICE: PRACTICE: None