Microeconomics and the
Georgia Performance Standards
Mike Raymer
Program Manager
Georgia Council on Economic Education
www.gcee.org
“I hope I die during a
workshop because the
transition from life to death
would be so subtle.”
-Anonymous Teacher
Georgia Council on Economic Education
www.gcee.org
The Mission
To help teachers teach those
students, K-12, in the public
and independent schools of
Georgia
Georgia Council on Economic Education
www.gcee.org
The Vision
Students leaving school
prepared for their roles as:
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Productive Workers
Informed Consumers
Involved Citizens
Prudent Savers
Wise Investors
Sound lifelong decision makers in a
globally interdependent world
Georgia Council on Economic Education
www.gcee.org
EOCT Pass Rates
S2004
W2004
S2005
W2005
S 2006
W2006
S 2007
W2007
S 2008
W2008
S2009
9th
Grade
Lit
77
79
81
60
66
60
68
67
73
74
76
Amer
Lit
89
93
94
77
82
77
81
80
84
83
86
Alge
60
60
63
57
65
56
65
57
55
40
40
Geom
63
57
65
59
63
63
63
61
61
51
47
Phys
Sci
60
68
68
54
62
59
62
62
63
64
67
Bio
73
75
78
50
59
52
58
57
62
62
64
U.S.
Hist
63
62
75
67
72
64
71
48
59
49
60
Econ
44 55 59 55 62 59 67 63 68 70 68
Georgia Council on Economic Education
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Economics Test Data Trend
Georgia Council on Economic Education
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Research Findings
Will using the activities
presented in this
workshop help student
EOCT scores?
…I sure hope so.
Georgia Council on Economic Education
www.gcee.org
Workshop Impact
Non-AP Economics Students Score Higher on the High School Economics EOCT
When Their Teachers Have Taken GCEE Workshops
(2004-2006 EOCT Exams – Five Testing Cycles)
625
DOE Scaled Score
620
7.7% gain
615
610
605
2.9% gain
607.9
609.8
611.6
613.5
615.4
617.2
2 Workshops
3 Workshops
4 Workshops
5 Workshops
600
595
No Workshops 1 Workshop
Georgia Council on Economic Education
www.gcee.org
Pacing
Georgia Council on Economic Education
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Domain Performance
for the 2008-2009 EOCT
Weight
Number
of Items
Avg. Correct
Fall Spring
% Correct
Fall
Spring
20.5%
14
7.8
8.3
56%
59%
Micro
4 weeks
22%
15
8.6
8.7
57%
58%
Macro
5 weeks
20.5%
14
7.6
7.7
54%
55%
International
2 weeks
18%
12
6.7
7.1
56%
59%
Personal Finance
19%
13
8.2
8.3
63%
64%
Domain
Fundamental
2 weeks
Handout
2 weeks
Georgia Council on Economic Education
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GPS
Handout
Performance standards provide clear
expectations for instruction,
assessment, and student work. They
define the level of work that
demonstrates achievement of the
standards, enabling a teacher to know
“how good is good enough.”
(www.georgiastandards.org)
Georgia Council on Economic Education
www.gcee.org
Domain Focus
SSEMI1
The student will describe how households,
businesses, and governments are
interdependent and interact through
flows of goods, services, and money.
Georgia Council on Economic Education
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Domain Focus
SSEMI2
The student will explain how the Law
of Demand, the Law of Supply,
prices, and profits work to
determine production and
distribution in a market economy.
Georgia Council on Economic Education
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Domain Focus
SSEMI3
The student will explain how markets,
prices, and competition influence
economic behavior.
Georgia Council on Economic Education
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Domain Focus
SSEMI4
The student will explain the
organization and role of business
and analyze the four types of market
structures in the U.S. economy.
Georgia Council on Economic Education
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The “Must Haves”
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Circular Flow Diagram
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…continued
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Supply and Demand
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Equilibrium Price
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Change in Demand
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Change in Supply
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Price Floors
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Price Ceilings
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Questions so far?
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Supply and Demand Curvesfriend or foe?
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Georgia Council on Economic Education
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Simulation #1- drawing your own curve
Georgia Council on Economic Education
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Georgia Council on Economic Education
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Reasons for Change in…
Demand
Supply
Consumer income/wealth
Consumer tastes and
preferences (advertising)
Change in the price of
substitute goods
Change in the price of
complementary goods
Change in expectations
Change in number of
consumers
Cost of inputs
Productivity
Technology
Taxes and Subsidies
Expectations
Government regulations
Change in the number of
sellers
Weather/natural disasters
Georgia Council on Economic Education
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Georgia Council on Economic Education
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Teaching Tools for MICROECONOMICS
from John Stossel
Georgia Council on Economic Education
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What You Get…
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16 Video Clips
Instructor’s Manual
Segment Description
Preview Question
Discussion and Analysis Questions
Extension Activities
Multiple-Choice Questions
Georgia Council on Economic Education
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Clip 5- Rent Control
SSEMI2 SSEMI3
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Economic Mystery
Where Did the Mortgages Go?
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Demonstration Lesson #1
Price Controls- Too High or Too Low?
(Focus: High School Economics)
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Georgia Council on Economic Education
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Clip 3- Greed
SSEMI 4
Georgia Council on Economic Education
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Demonstration Lesson #2
The Economic Effects of 19th
Century Monopoly
(United States History: Eyes on the Economy)
Georgia Council on Economic Education
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Georgia Council on Economic Education
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Georgia Council on Economic Education
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Georgia Council on Economic Education
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Georgia Council on Economic Education
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Perfect/Pure Competition
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Monopolistic Competition
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Oligopoly
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The
tlanta Braves
An Economic Education Case Study
Georgia Council on Economic Education
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What You Get…
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10 Lessons
Lesson Objectives
Lesson Overview
Classroom Procedures
*GPS Correlation Handout
Georgia Council on Economic Education
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Demonstration Lesson #3
Building a Team- The Braves as a
Creative Enterprise
SSEMI1
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Any Questions?
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Simulation #2-Your Guide to Having
Fun With Elasticity
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Price Elasticity of Demand
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Price Elasticity of Demand
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Price Elasticity of Demand
1. Can the purchase be delayed?
2. Are adequate substitutes available?
3. Does the purchase use a large
portion of income?
Georgia Council on Economic Education
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Price Elasticity of Supply
What You Will Need• Plenty of paper (recycled is fine)
• Staplers
• Pens
• Paper clips
• Rulers
• Understanding administrators
Georgia Council on Economic Education
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Show the Graphs
Georgia Council on Economic Education
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Price Elasticity of Supply
Can a firm adjust quickly to new prices?
• If yes, supply is likely to be elastic.
Georgia Council on Economic Education
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Price Elasticity of Supply
Can a firm adjust quickly to new prices?
• If no, supply is likely to be inelastic.
Georgia Council on Economic Education
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Lesson Ideas for the GPS Handout
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