1. Scarcity Forces Tradeoffs
2. Costs vs. Benefits
3. Thinking at the Margin
4. Incentives Matter
5. Trade Makes People Better Off
6. Markets Coordinate Trade
7. Future Consequences Count
Yesterday we began Unit #2 of our fall Economics term. This unit will cover the 7 Principles of Economic Reasoning. You will be expected to define and describe each principle, relate it to your own life experiences and choices, and apply it to real world examples (i.e. how the Federal Budget is made).
Tomorrow we will be solving 3 Economic Enigmas using our economic reasoning.
Today we covered the definition for Inflation and some of you all seemed a little confused with Marketplace's Paddy Hirsch and his explanation/drawing. Here is one more of his videos describing "quantitative easing" and "inflation" and I believe it's much clearer than what we saw in class.
Quatitative Easing video link
This is your last year of high school and believe me when I say that it will be done and gone before you know it.
Be intentional with your academic and extracurricular activities knowing that there is a huge transition awaiting you in nearly 8 1/2 months. Be intentional with your classmates and teachers because they play a huge role in shaping you as a student and as a person.
This Economics class is mandatory for you as a senior and you have to pass it in order to graduate. PLEASE keep this in mind as the term begins.
The link below will take you to a copy of your class expectations.
Read them carefully because I will hold you accountable to the guidelines and procedures outlined in the handout. Feel free to ask me any questions regarding the class content and expectations. I look forward to working with you all!
Here is the link to the appropriate file.
Economics 2012-2013 Class Expectations
DUE DATE: FRIDAY - September 14th, 2012
You may make up journals for EXCUSED absences. Use the following resources to look up Current Events to summarize.
ISABEAU K. WAIA'U WALKER