ECONOMICS WEEK 3
9/10/07-9/14/07

CLASS

 Monday 9/10
Schedule		 Tuesday 9/11
Schedule		 Wednesday 9/12
Schedule		 Thursday 9/13
Schedule		 Friday 9/14
Schedule
E Lesson 1 X Lesson 2 Lesson 3 Lesson 4
CHAPTER 2
CONCEPTS AND VOCABULARY
ECONOMIC SYSTEMS
THE 3 ECONOMIC QUESTIONS
FACTOR PAYMENTS
ECONOMIC GOALS
EFFICIENCY
SECURITY
FREEDOM
EQUITY
GROWTH
STABILITY
SAFETY NET
STANDARD OF LIVING
TRADITIONAL ECONOMY
MARKET ECONOMY		 FREE MARKET
SPECIALIZATION
HOUSEHOLD
FIRM
FACTOR MARKET
PROFIT
PRODUCT MARKET
CIRCULAR FLOW
ADAM SMITH
SELF-INTEREST
INCENTIVE
COMPETITION
INVISIBLE HAND
CONSUMER SOVEREIGNTY
COMMAND ECONOMY

KARL MARX
SOCIALISM
COMMUNISM
AUTHORITARIAN
COLLECTIVE
HEAVY INDUSTRY
CORRUPTION
LAISSEZ FAIRE
FREE ENTERPRISE
PRIVATE PROPERTY
TRANSITION
PRIVATIZATION
FLOWCHART
MIXED ECONOMY
LESSON IN CLASS HOMEWORK
Lesson 1
  • Review Chapter 1 Test
 Read: Chapter 2, Section 1. 

Answer: Key Terms 1-5,
Applying Economic Concepts 6
from Chapter 2, Section 1, page 27.

Answers must be in IYOW.

This assignment is to be posted on the appropriate Blackboard Discussion Board  by midnight, Sunday, September 16.

Lesson 2
  • The Three Economic Questions
  • Economic Goals
  • Economic Systems

 
GRQ Packet: "Answering the Three Economic Questions"
Lesson 3
  • Magic Bead Exercise
 GRQ Packet: "Classify Types of Economic Activity"

Read: Chapter 2, Section 2.

Answer: Key Terms 1-7,
Applying Economic Concepts 8, 10
from Chapter 2, Section 2, page 32.

Answers must be in IYOW.

This assignment is to be posted on the Blackboard Discussion Board by midnight, Sunday, September 16. 
Lesson 4

GRQ Packet:  "The Circular Flow", "Adam Smith's World"

Answer: Discussion Questions from "Crime and Punishment: Economics versus Sociology" online.

Answers must be in IYOW.

This assignment is to be posted on the Blackboard Discussion Board by midnight, Sunday, September 16.