Thursday, October 08, 2009

WH II: 8 October 2009

Prayer:
Current events:


Today's lesson plan and HW is available on the blog: http://gmicksmithsocialstudies.blogspot.com/

Email: gmsmith@shanahan.org

The Shanawiki page (http://shanawiki.wikispaces.com/) has updated class information.

The online version of the Textbook is available.

LibraryThing has bibliographic resources.

I moved the "Blog Archive" to the top right on the blog page so it should be easier to find the daily lesson, HW, and other class material.



This is just a reminder about your "Slideshare" assignment. We can see how the polling is progressing.

Along these lines, we can consider the Slideshare about The Enlightenment and the Founding of America. (http://www.slideshare.net/mhammond/enlightenment-presentation)

Next, I had asked you to consider other references and exercises on Sec. 4.

Of the three I had you to take a look at, which was the class favorite?

1. We can view an online exhibit about the Revolutionary War.

2. Also, we can view newspaper accounts of the American Revolution with a time line and quiz.

3. We might also explore an interactive portrait of George Washington.

Let's transition then to the other side, the British:

Britain Becomes a Global Power (Audio)

There are several key reasons for Britain’s rise to global prominence:

*Location placed England in a position to control trade. In the 1500s and 1600s, English merchants sent ships across the world’s oceans and planted outposts in the West Indies, North America, and India. From these tiny settlements, England would build a global empire.

*England offered a climate favorable to business and commerce and put fewer restrictions on trade than some of its neighbors.

*In the 1700s, Britain was generally on the winning side in European conflicts. With the Treaty of Utrecht, France gave Nova Scotia and Newfoundland to Britain. In 1763, the end of the French and Indian War and the Seven Years’ War brought Britain all of French Canada. The British also monopolized the slave trade in Spanish America, which brought enormous wealth to British merchants.

*England’s territory expanded closer to home as well. In 1707, England and Wales were united with Scotland to become the United Kingdom of Great Britain. Free trade with Scotland created a larger market for farmers and manufacturers. Ireland had come under English control during the 1600s. It was formally united with Great Britain in 1801.

In 1760, George III began a 60-year reign. Unlike his father and grandfather, the new king was born in England. He spoke English and loved Britain. But George was eager to recover the powers the crown had lost. Following his mother’s advice, “George, be a king!” he set out to reassert royal power. He wanted to end Whig domination, choose his own ministers, dissolve the cabinet system, and make Parliament follow his will. Gradually, George found seats in Parliament for “the king’s friends.” Then, with their help, he began to assert his leadership. Many of his policies, however, would prove disastrous.

Checkpoint for our Shanawiki page. (http://shanawiki.wikispaces.com/)

What led to Britain’s rise to global prominence in the mid-1700s?

Colonists Express Discontent

The Seven Years’ War and the French and Indian War in North America had drained the British treasury. King George III and his advisers thought that the colonists should help pay for these wars.

To increase taxes paid by colonists, Parliament passed the Sugar Act in 1764, which imposed import taxes, and the Stamp Act in 1765, which imposed taxes on items such as newspapers and pamphlets.

“No taxation without representation,” the colonists protested. They believed that because they had no representatives in Parliament, they should not be taxed.

Parliament repealed the Stamp Act in 1766, but then passed a Declaratory Act that said it had complete authority over the colonists.

Colonists Rebel Against Britain

A series of violent clashes intensified the colonists’ anger. In March 1770, British soldiers in Boston opened fire on a crowd that was pelting them with stones and snowballs.

Colonists called the death of five protesters the Boston Massacre. Then in December 1773, a handful of colonists hurled a cargo of recently arrived British tea into the harbor to protest a tax on tea. The incident became known as the Boston Tea Party.

When Parliament passed harsh laws to punish Massachusetts for the destruction of the tea, other colonies rallied to oppose the British response.

As tensions increased, fighting spread. Finally, representatives from each colony gathered in Philadelphia and met in a Continental Congress to decide what action to take.

Among the participants were the radical yet fair-minded Massachusetts lawyer John Adams, who had defended the British soldiers involved in the Boston Massacre in their trial; Virginia planter and soldier George Washington; and political and social leaders from all 13 colonies.

Primary Source

Audio (in-class)


stands as one of the most important documents in all of history. It still serves as inspiration for people around the world. Where did some of the ideas of the Declaration originate?

Primary Source

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed; That whenever any Form of Government becomes destructive of these ends it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”

—Declaration of Independence, July 4, 1776

Colonists Declare Independence

In April 1775, the ongoing tension between the colonists and the British exploded into war in Lexington and Concord, Massachusetts. This war is known as the Revolutionary War, or the American Revolution.
What we did on our summer vacation, Summer 2009




Checkpoint:

Do research on the U.S.S. Constitution. What can you find out about this remarkable ship, nicknamed "Old Ironsides?"

The Congress met soon after and set up a Continental Army, with George Washington in command. Although many battles ended in British victories, the colonists were determined to fight at any cost. In 1776, the Second Continental Congress took a momentous step, voting to declare independence from Britain. Thomas Jefferson of Virginia was the principal author of the Declaration of Independence, a document that reflects John Locke’s ideas of the government’s obligation to protect the people’s natural rights to “life, liberty, and property.”

The Declaration included another of Locke’s ideas: people had the right “to alter or to abolish” unjust governments—a right to revolt. The principle of popular sovereignty, which states that all government power comes from the people, is also an important point in the Declaration. Jefferson carefully detailed the colonists’ grievances against Britain. Because the king had trampled colonists’ natural rights, he argued, the colonists had the right to rebel and set up a new government that would protect them. Aware of the risks involved, on July 4, 1776, American leaders adopted the Declaration, pledging “our lives, our fortunes, and our sacred honor” to creating and protecting the new United States of America.

Checkpoint

What Enlightenment ideas are reflected in the Declaration of Independence?



Biography

George Washington

When George Washington (1732–1799) was chosen to lead the American army, the British thought he would be a failure. Washington indeed faced many challenges, including an army that did not have weapons, uniforms, or bedding. He struggled to incorporate order and discipline and to instill pride and loyalty in his soldiers. Washington persevered to American victory. His success as a leader continued when he became the nation’s first President. How did Washington hold the army together through difficult times?

James Madison

James Madison (1751–1836) arrived at the Constitutional Convention in Philadelphia in May 1787 with his thick notebooks on history and government. Madison chose a seat in front of the president’s chair and kept detailed notes of the debates. Madison was greatly respected and quickly became the Convention’s floor leader. His notebooks remained unpublished for more than 50 years, but they are now our main source of information about the birth of the Constitution. What did the Framers of the Constitution have in common?
Benjamin Franklin

Benjamin Franklin (1706–1790) was a philosopher, scientist, publisher, legislator, and diplomat. Sent by Congress to France in 1776 to seek financial and military support for the war, he soon became popular in France because of his intellect and wit. Those who admired America’s goal of attaining freedom also admired Franklin. When Franklin returned to America after nine years, he served as a delegate to the Constitutional Convention as the eldest of the delegates. Why was Franklin admired in France?

HW: email me at gmsmith@shanahan.org.

You have a 20 question, multiple choice Test on Monday on Chapter 10 material. (I will not be in tomorrow on Friday; I am attending a National Honor Society induction for a very unique person).

AP Economics: 8 October 2008

Prayer:

Current Events:


Today's lesson plan and HW is available on the blog: http://gmicksmithsocialstudies.blogspot.com/

Email: gmsmith@shanahan.org

The Shanawiki page (http://shanawiki.wikispaces.com/) has updated class information.

LibraryThing has bibliographic resources.

I moved the "Blog Archive" to the top right on the blog page so it should be easier to find the daily lesson, HW, and other class material.

We are addressing Chapter 2 in particular for the parts not covered in the Quiz. We will cover the non-Quiz material in Chapter 2 for a Test on Chapter 2.

The Test on Chapter 2 will be on Monday

You can also start checking Shanawiki (http://shanawiki.wikispaces.com/) for Test #1 multiple choice preview questions.

Before the Test, you should have 75 potential multiple-choice questions that may appear on the Test posted on Shanawiki. At this point, you will answer 20 randomly selected questions on Test 1, in later Tests there may be more questions on a Test.

In any event, after the Tests are graded and handed back, I will provide an answer key to all 75 multiple-choice questions that you can use as a Study Guide for the actual AP Test.

Chapter Overview

The introduction of the idea of a market (using a number of examples, including
financial markets and textbook sales) is followed by the analysis of demand, supply,
equilibrium, and the effects on market equilibrium when demand and supply
curves shift.

Chapter Outline

Markets

The Price System

Checkpoint: Markets

Demand

The Relationship Between Quantity Demanded and Price

The Law of Demand

The Demand Curve

Market Demand Curves

Determinants of Demand

Tastes and Preferences

Income

Prices of Related Goods

The Number of Buyers

Expectations About Future Prices, Incomes, and Product Availability

Changes in Demand Versus Changes in Quantity Demanded

Changes in Demand

Changes in Quantity Demanded

Checkpoint: Demand

Supply

The Relationship Between Quantity Supplied and Price

The Law of Supply

The Supply Curve

Market Supply Curves

Determinants of Supply

Production Technology

Costs of Resources

Prices of Other Commodities

Expectations

The Number of Sellers

Taxes and Subsidies

Changes in Supply versus Changes in Quantity Supplied

Checkpoint: Supply

Market Equilibrium

Moving to a New Equilibrium: Changes in Supply and Demand

Predicting the New Equilibrium When One Curve Shifts

Predicting the New Equilibrium When Both Curves Shift

Summarizing Shifts and Equilibrium

Checkpoint: Market Equilibrium

Putting Supply and Demand to Work

Excess Grape Supply and Two-Buck Chuck

Trek Bicycles and Lance Armstrong

Ideas for Capturing Your Classroom Audience

■ Track a product on eBay. Work with at least one other study partner, or members in your small group. Students should select an item and watch it as its auction
progresses. Consider products that students think will be highly desired as
opposed to other less popular products.

Chapter Checkpoints

Market: Financial Markets

Questions for discussion on Shanawiki: Demand: Hybrid Cars
Question: Sales of hybrid cars are on the rise. The Toyota Prius, while priced above
comparable gasoline-only cars, is selling well. Other manufacturers are adding
hybrids to their lines as well. What has been the cause of the rising sales of hybrids? Is this an increase in demand or an increase in quantity demanded?


Supply: iPods, iTunes, and MP3 players
Question: What has been the impact of the iPod, iTunes, and MP3 players in general
on high-end stereo equipment sales? Has the same impact been at work with CD
music sales since downloading of individual songs was introduced by Apple?


Equilibrium: China and India
Question: As China and India (both with huge populations and rapidly growing
economies) continue to develop, what do you think will happen to their demand for
energy and specifically oil? What will suppliers of oil do in the face of this demand? Will this have an impact on world energy (oil) prices? What sort of policies or events could alter your forecast about the future price of oil?

Extended Examples in the Chapter

Putting Demand and Supply to Work

Both of the following examples use supply and demand analysis as a framework for
predicting how market participants will act, and what the resulting price and output
might be.

Excess Grape Supply and Two-Buck Chuck

The great California wine of the 1990s put California wine on the map. Demand,
prices, and exports grew rapidly. Over planting of new grape vines was a result.
Driving along Interstate 5 or Highway 101 north of Los Angeles, grape vineyards
extend for miles as far as the eye can see, and most were planted in the mid to late
1990s. The 2001 recession reduced the demand for California wine, and a rising dollar made imported wine relatively cheaper. The result was a sharp drop in demand
for California wine and a huge surplus of grapes. Bronco Wine Company President Fred Franzia made an exclusive deal with Trader Joe’s (an unusual supermarket that features exotic food and wine products), bought the excess grapes at distressed prices, and with his modern plant produced inexpensive wine under the Charles Shaw label. Selling for $1.99 a bottle, Two-Buck Chuck as it is known is available in Chardonnay, Merlot, Cabernet Sauvignon, Shiraz, and Sauvignon Blanc. Consumers have flocked to Trader Joe’s and literally haul cases of wine out by the carload. Today, Two-Buck Chuck sells well over a million cases a month. This is not rot-gut: the 2002 Shiraz beat out 2,300 other wines to win a double gold medal at the 2004 28th Annual International Eastern Wine Competition.

Two-Buck Chuck was such a hit that other supermarkets were forced to offer their
own discount wines. This good, low-priced wine has had the effect of opening up
markets. As an illustration can be demonstrated, people who previously avoided wine because of the cost have begun drinking more (demand curves do slope down and to the right).

As The Economist has noted, the entire industry may benefit because “Wine
drinkers who start off drinking plonk often graduate to upmarket varieties.”

For more information about this wine and conditions in the wine industry, visit the
following Web sites:

From CBS News, a story titled “ ‘Two Buck Chuck’ Wine Cult” points out that it is
the surplus of grapes that makes the wine so inexpensive. On the web at: http://
www.cbsnews.com/stories/2003/06/02/eveningnews/main556620.shtml
KTVU.com (from the Bay Area of California) has a story titled “‘Two Buck Chuck’
Changing Wine Habits” which makes the point that “quality does not necessarily follow price.” http://www.ktvu.com/consumer/1954524/detail.html

Trek Bikes and Lance

When Lance Armstrong won his seventh Tour de France cycling championship in
July, 2005, he rode a bicycle made by Trek of the United States.2 So on the demand
side, we can expect demand for the victor’s brand of bicycles to go up. This in fact
happened, in both the United States and Europe. On the supply side, U.S. bicycle
manufacturers such as Trek and Cannondale were willing to increase output as
shown in Figure 15 (note that the supply curve didn’t change, only quantity supplied).

This process worked well in the U.S. but proved tougher in Europe, not so
much in the actual production of the bicycles but in getting stores to stock them. Up to a few years ago, racing bicycles were almost exclusively made by European companies.

___
1 “California Drinking,” The Economist, June 7th, 2003, p. 56.
2 See Ian Austen, “U.S. Bike Makers Seek Dominance in Europe,” The New York Times,
December 30, 2003, p. W1.

Figure 15 The Market for Bicycles

Using our supply and demand analysis, we see that demand increased. Since no
determinant of supply changed, we know that just output will increase, and prices
for Trek bicycles will rise. Our supply and demand analysis gives us a useful framework for predicting how market participants will act, and what the resulting price and output might be.

For More Information

In an article titled “Trek Bicycle Coup: Tour de Force” in Baseline (on the web at
http://www.baselinemag.com/article2/0,1397,1618016,00.asp), the author details the
technology used in making the bikes, as well as providing data on prices and quantities.

The phrase “limitless tolerance on price” is a good introduction to the topic
of elasticity (to be covered in an upcoming chapter).

Examples Used in the End-of-Chapter Questions

Question 10 discusses the market for virtual goods. Based on Rob Walker, “The
Buying Game: A real market, overseen by a real corporation selling things that don’t
really exist,” (The New York Times Magazine, October 16, 2005, p. 28), the question
asks students to consider the markets for goods used in on-line games such as
EverQuest II. This example encourages students to see that markets “really” exist
even in “virtual” worlds.

For a further demonstration, visit the homepage of Second Life (at http://secondlife.
com/) and see how much in U.S. dollars has been spent…in just 24 hours!

Question 11 is based on a Wall Street Journal story by Peter Sanders and Stephanie
Kang, (“Wipeout for Key Player in Surfboard Industry,” The Wall Street Journal,
December 8, 2005, p.B1) that discusses the closing of Clark Foam. The key point of
the example is that the firm was a manufacturer of a critical input needed to make
surfboards. It provides a good illustration about how a change in price and availability of a resource carries over into product markets.

For another story and some good visuals, see the page on the web at http://www.
transworldsnowboarding.com/twbiz/features/article/0,21214,1138359,00.htm.
Question 12 examines the effect of increased demand in the market for polysilicon,
used in making solar panels. It is based on the story by John Carey, “What’s Raining
on Solar’s Parade” (Business Week, February 6, 2006, p. 78). The key point for discussion here is the impact of uncertainty, which is another way to talk about the
role of expectations on demand and supply.

For more about the dynamics of the polysilicon market, see the story from Industrial
Control Designline on the web at http://www.industrialcontroldesignline.com/
showArticle.jhtml?printableArticle=true&articleId=163701891.

Question 13 provides a good example of how synthetic substitute products can be
developed when “natural” products become scarce. Based on the story by James
Altucher, “Supply, demand and edible orchids” (The Financial Times, September
20, 2005, p.12), it presents students with a data set, requires them to graph and analyze the data, and then illustrate the effects of changes in demand and supply.
Particular attention is given to the idea that even as supply is changing, demand may also be changing (in this case, due to the development of a synthetic).

Did you know that vanilla is the most labor-intensive agricultural product in the
world? You can find out just about everything there is to know about vanilla on the
web at http://www.vanilla.com/html/facts-faq.html.

For Further Analysis

The Supply and Demand Effects of the Increased Use of Ethanol

Handout 3-1 is an in-class group exercise with your small group.

Students are asked to draw graphs illustrating shifts in demand and supply
and changes in quantity demanded and supplied. Asking students to document
research about specifics in this topic (for example, changes in planted acreage).

Learning objectives: application of concepts of changes in quantity demanded
and quantity supplied versus changes in demand and supply; demonstration of mastery
of graphing techniques; and reinforcement of critical thinking skills.

Web-based Exercise

What’s Been Driving Gasoline Prices?

This example can be used as an in-class group exercise.

Asking students to perform (and document) additional research allows you
to use it as a case study or group project as well. For example, students can be
asked to document gasoline sales to see if, as predicted, an increase in demand
results in both a higher price and a greater quantity sold.

Learning objectives: application of concepts of changes in quantity demanded
and quantity supplied versus changes in demand and supply; demonstration of mastery
of graphing techniques; and reinforcement of critical thinking skills.

The Supply and Demand Effects of the Increased Use of Ethanol

Draw a supply and demand graph showing the market for corn in equilibrium. Label the demand curve as “DOld” and the supply curve as “S”. Then illustrate the effect of an increased demand for corn due to its being used to produce ethanol. Explain the changes in price and equilibrium quantity using the vocabulary of “changes in quantity demanded,” and “changes in quantity supplied,” as well as “change in demand” and “change in supply.”

Use a supply and demand graph to illustrate and explain the impact of a higher price of corn on any one of a wide variety of food products; be sure to include the effect on the cost of high-fructose corn syrup.

You do not need to send HW in email to gmsmith@shanahan.org for this exercise.

However, bear in mind you have a 20 question, multiple choice Test on Monday on Chapter Two material.

1. To this end, what you should do is to collaborate with at least one other study partner in the class and answer at least the first 20 (20) possible questions on the Shanawiki (http://shanawiki.wikispaces.com/) site for Test #1 multiple choice preview questions. Feel free to discuss and disagree on Shanawiki as to the possible answers.

After the Test is graded and handed back for credit I will supply an Answer Key for all 75 Chapter Questions; this is your Chapter 2 Study Guide for the actual AP Test.

2. ■ Track a product on eBay. Work with at least one other study partner, or members in your small group. Students should select an item and watch it as its auction progresses. Consider products that students think will be highly desired as opposed to other less popular products.