HONORS ECONOMICS WEEK 2
9/4/07-9/7/07

CLASS

 Monday 9/3
Schedule		 Tuesday 9/4
Schedule		 Wednesday 9/5
Schedule		 Thursday 9/6
Schedule		 Friday 9/7
Schedule
F Lesson 1 X Lesson 2 Lesson 3 Lesson 4
G Lesson 1 Lesson 2 X Lesson 3 Lesson 4
H Lesson 1 Lesson 2 Lesson 3 X Lesson 4
CHAPTER 1 CONCEPTS AND VOCABULARY

SIX PRINCIPLES of ECONOMICS
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

KARL MARX
MARKET FAILURES
EXTERNALITY
ASYMETRIC INFORMATION
BUSINESS CYCLES
INFLATION
UNEMPLOYMENT
EQUITY
LABOR VALUE
SUBSISTENCE
ALIENATION
SURPLUS VALUE
EXPLOITATION
PUBLIC OWNERSHIP
SOCIALISM
LESSON IN CLASS HOMEWORK
Lesson 1

 

 QFR:  #7, 10, pg. 16

PAA:  #7, 8, pg. 17.

Answers must be IYOW.

 
Lesson 2
  • Karl Marx continued . . .
 PAA: #11, 12, pg. 17.

Analyze: this cartoon, and critically analyze it using Marxist interpretation.  Would Marx agree or disagree with the point of the cartoon? Why or why not?

Watch and analyze the clip from Brewster's Millions--giving examples from the film of the economic concepts from Chapter 1.

Answers must be IYOW.

All these assignments are to be posted on the appropriate Blackboard Discussion Board by midnight, Sunday, September 9. 
Lesson 3
  • Review for Chapter 1 Quiz

 

 Review Chapter 1; use online chapter notes, Blackboard course materials, and Textbook site practice section quizzes.