Week 3, Syllabus

Mr. Ditzenberger-Economics
Lessons: Economic Systems Time: Week 3, January 28th–February 1st Unit: Introduction to Economics
Objectives:
1. Students will discuss free enterprise principles and apply them to a fictitious company.
2. Students will analyze the relationship between regulation and macroeconomic success.
3. Students will address economic policy questions based on realistic macroeconomic problems.
4. Students will analyze the reasons for government production of certain basic services and products.
5. Students will analyze welfare policy in the United States.

Monday
1. Winston Churchill: Capitalism is the unequal distribution of wealth. Socialism is the equal distribution of poverty. Debate-socialism-Sweden (providing health care, significant welfare for those not able to work, basic services “free”/through tax money, verses Hong Kong or the U.S.-minimal government ownership).
2. Homework: Read section 1 and define Key terms. Due tomorrow.
3. Homework-using http://rru.worldbank.org/businessplanet/, compare three countries, one from green, yellow, and red. Create a chart that compares each of the three countries given the data that is available on the website. Please email it to me by 8:00 am on Tuesday.
4. Homework-Chapter test Friday. Unit Test Tuesday.

Tuesday
1. Reports from yesterday on countries (10 minutes)
2. Read and discuss Chapter 3, section 2. (10 min)
3. Scenarios: (10 min)
a. Price of petrol goes up? What can the government do to help?
b. Unemployment increases by 50% in the past year, what can the government do?
c. Inflation increases by 5%, which is significant, in one year? How should the government respond?
d. Deflation occurs (there is a sustained drop in prices), what should the government do to help the economy?
e. The unemployment rate is dangerously low, hovering at 2%, what should the government do?
4. Macro/Micro Chart. 2 columns with different economic activity listed on either side. (10 min)
Macro Micro
1. Central bank adjusting interest rates 1. a local bank announces sales at its Boston branches to waive all lending fees on new
loans.
2. The government passes a tax relief bill. 2. a family decides to save each month for what they estimate they need to pay at tax
time.
3. Stock prices begin to recede. 3. the amount of dividend that John Dong receives declines and he decides to not by a reunion gift for his nephew.
6. Homework. Answer questions 1-8 in book on page 60. Due tomorrow.
7. Homework: LTE quiz on Friday.

Wednesday
1. Opener-what can a society not be without in a modern world? (10 min)
2. Read pg 62 as a class. The subsections, beginning with costs and benefits, should be read, understood, and presented in a creative way by each group (a skit, poem, rap, poster, etc.). 5 subsections, five groups. (20 min)
3. Quiz-mna-1037 in class. Five minutes to study.
4. Read Section 4. Quiz tomorrow. MNA-1038

Thursday
1. Quiz-MNA-1038. (10 min)
2. Read welfare and poverty article/essay. Discuss the solutions in your groups of three and arrive at your own groups’ opinion about the best solution. Remember that raising taxes (increasing a welfare budget) is not popular for various reasons. Present group results to the class in the form of a brief presentation (1 to 2 minutes). (20 minutes)
3. Time remaining-study for the test. (15 min)

Friday
1.. Chapter Test. 3. Homework: Unit test Tuesday. 2. Russian oligarch activity if time permits.