HONORS ECONOMICS WEEK 1
8/27/07-8/31/07

CLASS

Monday 9/10
Zero Schedule
Tuesday 9/11
Schedule
Wednesday 9/12
Schedule
Thursday 9/13
Schedule
Friday 9/14
Schedule
F Lesson 1 Lesson 2 Lesson 3 X Lesson 4
G Lesson 1 Lesson 2 Lesson 3 Lesson 4 X
H Lesson 1 X Lesson 2 Lesson 3 Lesson 4
CHAPTER 1 CONCEPTS AND VOCABULARY

SIX PRINCIPLES
CHOICE
OPPORTUNITY COST
RATIONAL
INCENTIVES
COST-BENEFIT ANALYSIS
LONG-TERM THINKING
INVESTMENT
PROFIT
IMPERFECT INFORMATION
MARGINALISM
TRADE CREATES WEALTH

ADAM SMITH
MARKET SYSTEM
GOODS
SELF-INTEREST
FREEDOM OF CHOICE
PRIVATE PROPERTY
MARKETS
COMPETITION
LAISSEZ FAIRE
SPECIALIZATION
BARTER
FINANCIAL CAPITAL
INVISIBLE HAND
PRODUCTIVITY
CAPITAL RESOURCES
PRODUCTIVITY

KARL MARX
MARKET FAILURES
EXTERNALITY
ASYMETRIC INFORMATION
BUSINESS CYCLES
INFLATION
UNEMPLOYMENT
EQUITY
LABOR VALUE
SUBSISTENCE
ALIENATION
SURPLUS VALUE
EXPLOITATION
SOCIALISM
PUBLIC OWNERSHIP
PUBLIC REGULATION

LESSON IN CLASS ASSIGNMENTS
Lesson 1 Read:  Text, Chapter 1, pgs. 3-10, stop at “Principle #7:  Governments Can Sometimes…”
Lesson 2
  • Do You Think Like An Economist?
  • The Big Six
    --the basic principles of economics.

Read: for discussion purposes the articles on Adam Smith and The Wealth of Nations
Lesson 3
  • Adam Smith and Capitalism

 

QFR:  # 4, 6, pg. 16

Answers must be IYOW.

This assignment is to be posted on the appropriate Blackboard Discussion Board  by midnight Sunday, September 2.

Lesson 4
  • Adam Smith continued . . .

 

Read: for discussion purposes the articles on Karl Marx and Das Kapital

PAA:  # 16, pg 18

Answers must be IYOW.

This assignment is to be posted on the appropriate Blackboard Discussion Board  by Midnight, Sunday, September 2.