Welcome Economists! 25 Aug – Lesson Objective: Understand how to define economic growth. What are we doing today? 1. Where is my exam? 2. Introduction to Macroeconomics 3. Introduce Macroeconomic Objectives 4. Examine Economic Growth Once you wrote down the objective and read the overview – • How much did the Japan economy grow in the previous quarter (Mar 21)? LESSON OBJECTIVES To participate in the Economics Olympics. To review how to answer 3-mark and 6-mark questions. To understand how to structure 9mark questions. ECONOMIC OLYMPICS In your groups, you will participate in five events representing each of the Olympic rings. Write your answers on the handout. BLUE RING EVENT: CURRENT EVENT QUIZ Q1: In Sep 2021, El Salvador will become the first county to adopt this item as legal tender? Q2: After his flight on Blue Origin in July, Amazon CEO Jeff Bezos announced this act would help solve climate change. Q3: Johnson & Johnson and this other vaccine producer have stated they will not make a profit from their COVID vaccines until the pandemic ends. Q4: Ice cream maker Ben & Jerry’s said it would stop selling ice cream in which area? Q5: Due to intense competition in the video streaming market, what new service is Netflix planning to add in order to attract more subscribers? YELLOW RING EVENT: ECONOMIC ANAGRAMS Anagram is a word formed by rearranging the letters of another, such as “spar” formed from “rasp”. Q1: entirely tax Q2: core sure Q3: aloe cilantro Q4: artic found rooftops Q5: cinnamon intepreted BLACK RING EVENT: WHAT CAN YOU DEDUCE? WHAT CAN YOU INFER? GREEN RING EVENT: DIAGRAMS Illustrate the following on your answer sheet. Be sure to fully label! Q1: Consumer income increases and Product A is an inferior good. Q2: The price of substitute good B falls. Illustrate the impact on Product A. Q3: The government grants a subsidy on each unit of Product A produced. Q4: There is increasing unemployment in Country A Q5: Country A has decided to implement a minimum wage. RED RING EVENT: OLYMPIC QUESTIONS Q1: Olympic diving gold-medalist Tom Daley has become an Internet sensation because of this hobby? Q2: The Olympic competitors in this event decided to share the gold medal? Q3: The Kawai sisters each won a gold medal in this sport. Q4: A 24-year old sprinter from this country claimed refuge in the Polish embassy in Tokyo after her family appeared to be threatened by government officials. Q5: US gymnast Simone Biles won a bronze medal in this event after she withdrew from the team event a week prior. PSL UPDATE 1.Main page updates 2.G10 Scheme of Work 3.Grade boundaries 4.Inquiry Activity HOW TO ANSWER 3/6/9– MARK QUESTION Let’s review the handout on how to answer 3/6/9-mark questions.
