6.4 Adam Smith - The Wealth of Nations (Due 2/26)

 

Adam Smith

An Inquiry into the Nature and Cause of The Wealth of Nations

Students are to watch the video below and answer the questions. 

Video

1) Adam Smith begins with The Wealth of Nations with an example of a pin factory in order to demonstrate what exactly?

2) How does The Wealth of Nations explain how Nations would take their past economic practice of Mercantilism and shift how Nations would eventually deal with the global market? 

3) How does division of labor increases productivity? 

4) What are some of the things that you learned about economics from this video that relates to current situations that are happening in today's world? 

6.3 Economics: Common Terms and Concepts (Due 2/19)

Terms To Be familiar with: Scarcity, Choices, Opportunity Costs, Marginal Benefit, Marginal Cost

How does scarcity play into the choices a person would have to decide on? 

What are the differences between monetary and non-monetary incentives?

How would changes in incentives cause changes in behavior? 

Explain what Opportunity Costs, Marginal Benefit, and Marginal Cost mean?

6.2 Economics: Cave-o-nomics Due 2/12

 KEY WORDS AND PHRASES

ECONOMY, PROFIT, TRADE, FREE MARKET SYSTEM, INDUSTRY, COMPETITION, 

INNOVATION,REGULATE, PRODUCTIVITY,  

Guiding question: How did the market get started? What role does  the free market economy,  trade, bartering, supply and demand have in the economy?

Question:

Explain how this quote relates to the film “Cave-o-nomics,” and make use of information garnered from the film.

“If a man has good corn or wood, or boards, or pigs, to sell, or can make better chairs, forknives, crucibles or church organs, than anybody else, you will find a broad hard-beaten road to his house, though it be in the woods.”

—Ralph Waldo Emerson

WE THE ECONOMY LESSON: cave-o-nomics
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Visit www .wethee conomy.com for updates.

6.1 Economic Literacy due 2/5

 

Welcome to the Parkview Economics Discussion Board 

All postings titles will be marked by the school month and school week and due date. So this is the first week posting for month 6, and the title is 6.1.....  

You are required to make 2 posts on the discussion board every week. The first post is your response to the questions posted. The work is to be your own, plagiarism will result in a failing grade. The second response is a comment to a classmate's post.

Due date: Discussion Board responses are due by Friday of the week of the posting. 

Grades: PLEASE COPY YOUR POSTS AND TURN IN WITH YOUR MONTHLY WORK. Discussion Board participation is 10% of your grade. You will get credit for your participation and will be marked down for posting late, or not posting at all.

Study Guide: Each discussion board question is related to a question on the final. Students who complete each posting do better on the final. A more detailed study guide will be provided a few weeks before the final.

Finals: The finals will be multiple choice questions based on the textbook and discussion board. 

 This week you will have an opportunity to meet classmates and discover your economic literacy. In your first posting, write a paragraph or two that answers these questions:

• What is your name, grade, and age?
• What are some hobbies or activities you're involved in?
• Define economics in your own words?
• Why are you interested in studying economics?
• Now take the economic quiz and answer the questions related to the quiz. 

As you read other students' responses, respond to one or more of these questions in your follow-up posting(s):

• What interests you most about studying economics?
• Do you think studying economics is relevant today? Explain your answer.
• Do you think economics is important in your life? Give examples.

Economic Literacy Quiz

How much economic knowledge do you have?

Directions:  Test your own economic literacy with 20 questions.Then view results to see how you rank against everyone else who has taken the quiz. Post your answers to the following questions below the quiz link. 

Take the Quiz

1. Did you score above or below the national average of 70%? Post your answer to this question. 

2. What experience do you have with economics? 

3. What would you like to learn more about regarding economics in this class?