Wednesday, January 28 - Thursday, January 29, 2009
The Economizing Problem
OBJECTIVES
Students shall be able to
define scarcity, opportunity cost, PPF, capitalism, command economy, and investment.
identify economic resources and resource payments.
construct and interpret a production possibilities curve.
summarize the relationship between investment and economic growth.
identify characteristics of capitalist, command, and mixed economies.
ACTIVITIES
Lecture/Discussion: scarcity, opportunity cost, production possibilities, and economic growth.
NCEE Activity 1: Scarcity, Opportunity Cost & PPFs
Assignments:
Take notes.
Complete NCEE Activity 1
Read McConnnell & Brue chapter 3 for Monday.
ASSESSMENT PROCEDURES
Monitor and adjust as necessary. Collect and grade activity 1.