Coach Rustay's Blog

Week of Aug. 24-Aug. 28

GEORGIA ACADEMIC STANDARD

SSEF3-Students will explain how specialization increases satisfaction between buyers and sellers.
SSEF6-Students will explain how productivity, economic growth and future standards of living are influenced by investment.
SSEMI1-Students will describe how households, businesses and governments are interdependent.
SSEMA1-Students will explain why individual, businesses and governments trade goods/services.

AP STANDARDS
1.A-Scarcity, choice, opportunity cost
1.C-Comparative advantage, absolute advantage, specialization and trade
1.F-Marginal analysis

Monday 08/24
We discussed our quiz over economics basics from last Thursday. We continued our discussion on comparative and absolute advantage. Pages 100, 101 and 103 from Dr. Stone were given as homework.

Tuesday 08/25
Discussion & homework check of pages 100, 101 and 103 from Monday. Absolute and comparative advantage are tough concepts, with comparative advantage certainly being the more difficult of the two. Just read the questions carefully to see how your opportunity cost equations (fractions) should be extablished. We also discussed marginal thinking with a few notes on the subject. Activity 7 on marginal benefit/marginal cost was assigned as homework.

Wednesday 08/26
Discussion of activity 7 to begin class. We used the remaining time to review in preparation for Thursday's exam.

Thursday 08/27
Exam 1

Friday 08/28
I am out of school on Friday to attend an AP Economics workshop at the Federal Reserve Bank of Atlanta. In class, read pp. 45-50 of the textbook followed by activity 9 (parts A & B) in the workbook. This assignment will be due on Monday.

Review answers

Here are the answers to the questions in the back of unit 1 of the workbook.

Question #	Answer	Question #	Answer
1	D	16	C
2	B	17	B
3	E	18	C
4	B	19	D
5	D	20	E
6	C	21	C
7	E	22	C
8	B	23	A
9	B	24	C
10	B	25	C
11	A	26	B
12	C	27	B
13	C	28	C
14	C	29	C
15	D	30	E

AP Microeconomics Week of Aug. 17-Aug. 21

GEORGIA ACADEMIC STANDARDS

SSEF1-Students will explain why limited productive resources and unlimited wants result in scarcity
SSEF3-Students will explain how specialization increases satisfaction between buyers and sellers
SSEF4-Students will compare and contrast different economic systems
SSEF5-Students will describe the roles of government in a market economy

AP STANDARDS

1.A Scarcity, choice, and opportunity costs
1.B Production Possibilities curves
1.C Comparative advantage, absolute advantage, specialization, and trade
1.D Different types of economic systems

Monday 08/17
Discuss production possibilities curve activity from Friday (08/14). Discussion and examples of explicit vs. implicit costs. Read pp. 29-38 in the textbook and activity 3 from AP workbook for homework.

Tuesday 08/18
Discuss activity 3 homework from Monday. Notes on scarcity revisited. The information from scarcity revisited will help to show how different cultures deal with the problem of scarcity. Conclusions should be drawn from the three different types of economic systems discussed in class. Read "Campus Parking"-activity 4 from AP workbook for homework.

Wednesday 08/19
Finish notes from scarcity revisited. Students will be organized into small groups to answer the questions to "Campus Parking". Introduction of the circular flow model. Activity 5 from AP workbook for homework.

Thursday 08/20
Quiz over economic basics. Begin discussion on comparative and absolute advantage/benefits of trade. What would life be like if we all had to be self sufficient?

Friday 08/21
Bert & Betsy absolute/comparative advantage role play/discussion. Activity 6 from AP workbook and reading pp. 89-99 of textbook for homework. Pages 100, 101, 103 from Dr. Stone may be discussed depending on how far we advance in the content.

Welcome Back

I hope everyone had a very relaxing summer. Please click the links below to access the syllabus and AP student contract. You will need to print the syllabus and the contract, sign the syllabus and contract, and have your mom or dad sign the syllabus and contract. If you could provide e-mail addresses in the spaces provided that would be very helpful.

Download AP MICROECON SYLLABUS

Download AP Student Contract 2009