HONORS ECONOMICS WEEK 1
8/24 - 8/28

CLASS

 Monday 8/24
No School		 Tuesday 8/25
No School		 Wednesday 8/26
Zero Schedule		 Thursday 8/27
Special Schedule		 Friday 8/28
Schedule
H X X Lesson 1 X Lesson 2
UNIT 1 CONCEPTS AND VOCABULARY
Unit 1 Notes Unit 1 Powerpoint

 SCARCITY
CHOICE
RESOURCES
CAPITAL
LAND
LABOR
POSITIVE/OBJECTIVE
NORMATIVE/SUBJECTIVE
RATIONING
TRADE-OFFS
OPPORTUNITY COST

 PROFIT
UTILITY
INVESTMENT
MARGINAL
CETERIS PARIBUS
BIAS
POST HOC FALLACY
FALLACY OF COMPOSITION
MICROECONOMICS
MACROECONOMICS
PRODUCTION POSSIBILITIES		 FULL EMPLOYMENT
FULL PRODUCTION
TECHNOLOGY
TRADE
INVENTION
INNOVATION
MASS PRODUCTION
DIVISION OF LABOR
SPECIALIZATION
CAPITALISM
SOCIALISM
LESSON IN CLASS ASSIGNMENTS
Lesson 1 Homework:  Read Course Academic Expectations

Read Textbook, Chapter 1, pp. 3-15, stop at “Positive and Normative Economics”
Lesson 2
  • The Basic Principles of Economics
    • Scarcity
    • Choice
    • Profit Motive
    • Rational Behavior
    • Marginal Thinking
    • Imperfect Information
  • Four Fundamental Questions
 In Class:  Quiz on Course Expectations

Homework: Textbook, Chapter 1, pp. 15-18

Read: How to Write a Brief, and Brief Assignment 1 - The Campus Parking Project