Current Events:
Adam Kokesh weighs in on the economic cost of Afghanistan.
Be sure to note on our class calendar, a Test is scheduled for Thursday, Ch. 5 Elasticity, 50 Questions, multiple choice.
Chapter 5 Elasticity
The concept of elasticity is thoroughly covered in this chapter, from the definition, to the calculation, and finally to the application. Price elasticity of demand is covered first, followed by income and price elasticities. The price elasticity of supply is covered, and the chapter concludes with an analysis of tax burdens based on differences in the price elasticities of demand and supply.
We can re-assemble in our small groups to discuss and answer.
If you join Dabbleboard (Cf. http://www.dabbleboard.com/); you can draw your graphs online instead of on the board. You can share graphs and chat online as well as use Dabbleboard for your Small Group collaborations.
Post any questions on the content now that we reviewed the material:
Ch. 5 Objective Review
We are working towards the Test, Ch. 5 Multiple choice; and, we will quickly scan Chapter 6 for a short Quiz next week.
Chapter 6 Overview Consumer Choice and Demand
Ch. 15, Introduction to Macroeconomics, PowerPoint presentation.
Handout Ch. 15 questions
HW: gmsmith@shanahan.org
1. Study for what is noted on our class calendar, a Test is scheduled for Thursday, Ch. 5 Elasticity, 50 Questions, multiple choice.
2. In Chapter 15, answer the Checkpoint questions.
