Basic Economic Concepts
 
 

12/05

Syllabus

Computer Lab website review

Lecture on the Economic Way of Thinking

Reading:  "From Pocketbook to Policymaking, Economic Education Matters"

    (read for 12/06)

Read Chapter 1 (pages 1 - 20) from the Krugman - Wells text [(Please type your responses to

    questions 1, 4, 5, 9, 10, 11, 12, and 15 on pages 20 - 22 in text) (due 12/12)]

Read "The Plight of the Economist" and "The Second Coming of Adam Smith" 

    [(New Ideas From Dead Economists) typed summary of both chapters (due 12/13)]

(Download) Unit I Review (personal review, does not need to be completed -- keep for cumulative final)


12/06

Review "From Pocketbook to Policymaking, Economic Education Matters"

Take Quiz "The Economic Way of Thinking" for big points (no preparation allowed)

Economics defined class activity

"What is to love about economics?" [(Economics by Example) type your response to

    questions 1 - 4 (due on 12/08)]

"Incentives Matter" [(Naked Economics) typed response to questions (due 12/09)]


12/07

Lecture -- Basic Concepts

Class work time on readings

(Download) Adam Smith reading

(Download) Opportunity Cost reading


12/08

Review "What is to love about economics?"

Poem

Adam Smith reading (in class discussion)

Opportunity Cost reading (in class discussion)

The Family Man clip

Lecture -- Factors of Production


12/09

Review "Incentives Matter"

(Download) "I, Pencil" [(typed summary of pencil story and comments by Friedman /

    Boudreaux) due 12/13]


12/12

Review Chapter 1 text work (bring text)

Lecture on Explicit / Implicit costs and PPC/PPF

Complete 1-3 from AP Economics -- Student Activities

Complete 1-2 from AP Economics -- Student Activities

Read Chapter 2 (pages 23 - 42) from the Krugman - Wells text [(Please type

    your responses to questions 1, 7, 9, 10, and 14 on pages 42 - 44) due 12/16]


12/13

Review Dead Economists readings and "I Pencil"

Price system film

Broad Social Goals of Society (due 12/14)

(Download) “Treasure Island” Part I & II [type summary (due 12/15)]


12/14

Review  Broad Social Goals of Society

Campus parking activity (in-class)

Types of Economic Systems  (in-class)

Lecture -- ISMS and Circular Flow


12/15

Review "Treasure Island" Part I & II

Lecture -- Comparative and Absolute Advantage

Complete 1-6 from AP Economics -- Student Activities

(Download) “Thinking in an Economic Way”


12/16

Review Chapter 2 text work (bring text to class today)

Exam review

Risk Reduction Human Life

Love / Marriage

12/19

Exam review


12/20

60 multiple-choice questions in 66 minutes


12/21

Free response short answer exam

Multiple choice exam post mortem (bring text to class)


12/22

Multiple Choice / Free Response exam post mortem (bring text to class)


01/03 - 20 with Friday 01/20 as presentation day!



 

Unit I

It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our necessities but of their advantages.

Adam Smith, The Wealth of Nations, Book I Chapter II