WH II: 2 December 2009

Prayer now alphabetical by student as listed on the class (which is unofficial and not the school) Calendar:

Current Event:

Reaction to the surge in Afghanistan as announced by Obama.

Compare the surge statements on Iraq and Afghanistan:

Our class wiki can help us plan the announced New York City field trip.

Unit 3 An Era of European Imperialism 1800-1914

Industrialization

Discovery School Channel

Watch In Old New York on the Witness History Discovery School™ video program to learn about life during the Industrial Age.

Early Socialism

While the champions of laissez-faire economics praised individual rights, other thinkers focused on the good of society in general. They condemned the evils of industrial capitalism, which they believed had created a gulf between rich and poor. To end poverty and injustice, they offered a radical solution—socialism. Under socialism, the people as a whole rather than private individuals would own and operate the means of production—the farms, factories, railways, and other large businesses that produced and distributed goods. Socialism grew out of the Enlightenment faith in progress, its belief in the basic goodness of human nature, and its concern for social justice.

Are Utopians Dreamers?

A number of early socialists established communities in which all work was shared and all property was owned in common. When there was no difference between rich and poor, they said, fighting between people would disappear. These early socialists were called Utopians. The name implied that they were impractical dreamers. The Utopian Robert Owen set up a model community in New Lanark, Scotland, to put his own ideas into practice.

Infographic
Owen’s Utopia

For: Interactive Village
Visit: PHSchool.com
Web Code: nap-1941

Thinking Critically
1. Make Generalizations
Based on the images, how did life for children at New Lanark differ from those who lived in industrial cities?

2. Recognize Ideologies
Do you think Utopianism was an effective solution for the challenges of the Industrial Age? Why or why not?

Owen Establishes a Utopia

A poor Welsh boy, Owen became a successful mill owner. Unlike most industrialists at the time, he refused to use child labor. He campaigned vigorously for laws that limited child labor and encouraged the organization of labor unions.

Checkpoint

What did early socialists believe?

Reading Check

Describing

What type of working conditions did the industrial workers face?

References and Resources

Rise of the Working Class by Jurgen Kuczynski

Making of the English Working Class by E.P. Thompson

Cultural Foundations of Industrial Civilization by John U. Nef
Sign entering the village. Graphic source: The Next Generation

A living museum can be viewed at Old Sturbridge Village. At the village visitors can ride the stagecoach, interact with the farm animals, talk with costumed historians, and watch the blacksmith, cooper, potter, and farmers at work. In the village visitors can experience life in the 1830s--with 40 antique homes, buildings, and water-powered mills. The village is well worth exploring in some detail.

The flag is central to village life. Graphic source: The Next Generation

Our relationship to God is of paramount importance. Graphic source: The Next Generation

Defense is always a concern for a nation. Graphic source: The Next Generation

If you have questions about 19th Century life you can always "Ask Jack."

Jack Larkin is the Chief Historian and Museum Scholar at the Village, where he has worked since 1971. He is also Affiliate Professor of History at Clark University in Worcester, MA, and consults for many museums and historical organizations. His latest book, Where We Lived: Exploring the Places We Once Called Home. The American Home from 1790 to 1840, was published in 2006.

To feel more at home in the village you will need to know the tools of the trade. A number of fun and educational links are available for the OSV.

Old Sturbridge Village Feature Shown on Al Jazeera Television winter 2008



Laura Linney and Ken Burns on the importance of Old Sturbridge Village



4th of July at OSV.



Redcoats to Rebels at OSV.

Mystic sign. Photo Source: The Next Generation

Mystic Seaport -- The Museum of America and the Sea is the nation's leading maritime museum. In it, you can explore American maritime history first-hand as you climb aboard historic tall ships, stroll through a re-created 19th-century coastal village, or watch a working preservation shipyard in action.

Traditional American Music performed live at Mystic Seaport, CT: Part 1

Traditional American Music performed live at Mystic Seaport, CT: Part 2



Traditional American Music performed live at Mystic Seaport, CT: Part 3



The Charles W. Morgan embarks on a voyage of restoration at the Henry B. DuPont Preservation Shipyard at Mystic Seaport. Shipyard Director, Quentin Snediker explains what is done to prepare the ship for the historic journey.

The Charles W. Morgan is the last surviving wooden whaling ship from the great days of sail. Built in 1841 in New Bedford, MA, the Morgan had a successful 80-year whaling career. She made 37 voyages before retiring in 1921, and was preserved as an exhibit through the efforts of a number of dedicated citizens. After being on display in South Dartmouth, MA, until 1941, she came to Mystic Seaport, where each year thousands of visitors walk her decks and hear the fascinating story of her career as a whaling vessel, historic exhibit, film and media star, and a porthole into America's rich history.

Over the last three decades, the Charles W. Morgan has undergone two regimes of partial restoration along with annual maintenance. Despite these efforts, the inevitable effects of time on the wooden fabric of the vessel's structure demand additional extensive restoration. If left unchecked, these deficiencies will threaten the structural integrity of the Morgan and her use as a primary artifact in Mystic Seaport's interpretive programs.



Mystic Seaport, 1960 (No, this is not Dr. Smith as a boy), from family home movies.



Whaling in popular culture: Mountain, "Nantucket Sleighride"



The cold hard steel of the harpoon's point
Struck deep into its side.
We played out line and backed the oars
And took the cruel sleighride.

The term "Nantucket Sleighride" was coined by the whalers to explain what happened after they harpooned a whale. (Nantucket Island was considered the whaling capital of the world during the 19th century.) The first strike of the harpoon was not intended to kill the whale but only to attach it to the whale boat. The whale would take off pulling the whale boat along at speeds of up to 23 mph (37 kmh). The whale would eventually tire itself out, the leading officer in the boat would then use a penetrating lance to kill the whale.

Nantucket Sleighride is Dedicated to Owen Coffin who was cabin boy aboard the whaler Essex, which was destroyed by a sperm whale in 1819. Owen ended up in the lifeboat with Captain Pollard, his uncle. Two other lifeboats also put out. During the next 3 - 4 months, the lifeboats separated. One was never seen again, but some of those on the remaining two boats were eventually rescued.
During those long months at sea (and on desert islands), many of the men died. The remainder eventually had to resort to cannibalism to survive. After the dead of natural causes were consumed, the men determined to draw lots to see who would sacrifice his life for the others. Owen Coffin ``won'' the lottery. The Captain tried to take Owen's place, but the youth insisted on his ``right''. The executioner was also drawn by lot. That ``winner'', another young man named Charles Ramsdell, also tried vainly to swap places with Owen. Again he refused. Owen's body kept the others alive for ten days (Captain Pollard refused to eat his nephew). Another man died, and his body kept Pollard and Ramsdell alive a few more days until they were rescued.

Lyrics
Goodbye, little Robin-Marie
Don't try following me
Don't cry, little Robin-Marie
'Cause you know I'm coming home soon
My ships' leaving on a three-year tour
The next tide will take us from shore
Windlaced, gather in sail and spray
On a search for the mighty sperm whale
Fly your willow branches
Wrap your body round my soul
Lay down your reeds and drums on my soft sheets
There are years behind us reaching
To the place where hearts are beating
And I know you're the last true love I'll ever meet
Starbuck's sharpening his harpoon
The black man's playing his tune
An old salt's sleeping his watch away
He'll be drunk again before noon
Three years sailing on bended knee
We found no whales in the sea
Don't cry, little Robin-Marie
'Cause we'll be in sight of land soon

Agriculture

Farming and everyday life during the past 250 years

Children who lived in the English countryside

The Agricultural Revolution

Transportation, Industrial Revolution

Stephenson's Rocket Animation

The Spinning Mill Animation

Britain at the time of the Great Exhibition

Who Wants to Be a Cotton Millionaire?

Iron Bridge Virtual Tour

New machines that brought changes in America

Review changes of the 18th and 19th centuries

The Industrial Revolution

The everyday life of children in Victorian Britain (including the cities)

Online game about life in an industrial Victorian city

Take a tour of a workhouse

Children were often exploited during the Industrial Age; one of the most well-known stories from the period is the story of Oliver.

The 2005 trailer for Oliver Twist by Charles Dickens, in the film adaptation:

HW email to gmsmith@shanahan.org

Infographic
Owen’s Utopia

For: Interactive Village
Visit: PHSchool.com
Web Code: nap-1941

Thinking Critically
1. Make Generalizations
Based on the images, how did life for children at New Lanark differ from those who lived in industrial cities?

2. Recognize Ideologies
Do you think Utopianism was an effective solution for the challenges of the Industrial Age? Why or why not?

AP Economics: 2 December 2009

Prayer: in Quarter 2 henceforth, alphabetical, in student order beginning from row 1, seat 1, etc., each day, if the scheduled person is absent then the next person will pray.

now alphabetical by student as listed on the class (which is unofficial and not the school) Calendar:

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.

WH II: 1 December 2009

Prayer now alphabetical by student as listed on the class (which is unofficial and not the school) Calendar:

Current Event:

NSA's Ears Wide Open

Authority to Spy on Americans Unclear as Patriot Act Expires.

NSA's Ears Wide Open

We can watch Wikis in Plain English

to help us plan the announced New York City field trip.

Unit 3 An Era of European Imperialism 1800-1914

Industrialization

Workers Find Comfort in Religion

Methodist meetings featured hymns and sermons promising forgiveness of sin and a better life to come. Methodist preachers took this message of salvation into the slums. There, they tried to rekindle hope among the working poor. They set up Sunday schools where followers not only studied the Bible but also learned to read and write. Methodists helped channel workers’ anger away from revolution and toward reform.

Checkpoint

How did members of the working class react to their new experiences in industrial cities?

Life in the Factories and Mines

The heart of the new industrial city was the factory. There, the technology of the machine age and the rapid pace of industrialization imposed a harsh new way of life on workers.

Discovery School Channel

Watch In Old New York on the Witness History Discovery School™ video program to learn about life during the Industrial Age.

Factory Workers Face Harsh Conditions

Working in a factory system differed greatly from working on a farm. In rural villages, people worked hard, but their work varied according to the season. Life was also hard for poor rural workers who were part of the putting-out system, but at least they worked at their own pace. In the grim factories of industrial towns, workers faced a rigid schedule set by the factory whistle.

Working hours were long, with shifts lasting from 12 to 16 hours, six or seven days a week. Workers could only take breaks when the factory owners gave permission. Exhausted workers suffered accidents from machines that had no safety devices. They might lose a finger, a limb, or even their lives. In textile mills, workers constantly breathed air filled with lint, which damaged their lungs. Those workers who became sick or injured lost their jobs.

The majority of early factory workers were women rather than men. Employers often preferred to hire women workers because they thought women could adapt more easily to machines and were easier to manage. In addition, employers generally paid women half what they paid men.

Factory work created a double burden for women. Their new jobs took them out of their homes for 12 hours or more a day. They then returned to their tenements, which might consist of one damp room with a single bed. They had to feed and clothe their families, clean, and cope with such problems as sickness and injury.

Miners Face Worse Conditions

The Industrial Revolution increased the demand for iron and coal, which in turn increased the need for miners. Although miners were paid more, working conditions in the mines were even worse than in the factories. They worked in darkness, and the coal dust destroyed their lungs. There were always the dangers of explosions, flooding, and collapsing tunnels. Women and children carted heavy loads of coal, sometimes on all fours in low passages. They also climbed ladders carrying heavy baskets of coal several times a day.

Even children as young as five years old worked in the mines. James Kay-Shuttleworth worked as a physician among the different classes of the Industrial Revolution in Manchester. His profession allowed him to see the working conditions of poor in the cities. How was work in factories and mines different from work on the farm?

Children were accustomed to work on a farm: the money earned by children was vital to most working class families during the early 20th century and before.

Primary Source

“Whilst the engine runs, people must work—men, women, and children are yoked together with iron and steam. The animal machine is chained fast to the iron machine, which knows no suffering and weariness.”

—James Kay-Shuttleworth, 1832

Children Have Dangerous Jobs

Factories and mines also hired many boys and girls. These children often started working at age seven or eight, a few as young as five. Nimble-fingered and quick-moving, they changed spools in the hot and humid textile mills where sometimes they could not see because of all the dust. They also crawled under machinery to repair broken threads in the mills. Conditions were even worse for children who worked in the mines. Some sat all day in the dark, opening and closing air vents. Others hauled coal carts in the extreme heat. Because children had helped with work on the farm, parents accepted the idea of child labor. The wages the children earned were needed to keep their families from starving.

Child labor reform laws called “factory acts” were passed in the early 1800s. These laws were passed to reduce a child’s workday to twelve hours and also to remove children under the age of eight or nine from the cotton mills. Because the laws were generally not enforced, British lawmakers formed teams of inspectors to ensure that factories and mines obeyed the laws in the 1830s and 1840s. More laws were then passed to shorten the workday for women and require that child workers be educated.

Families could afford to take trips to such places as the zoo as wages increased.

Checkpoint

How did the Industrial Revolution affect the lives of men, women, and children?

Early Socialism

While the champions of laissez-faire economics praised individual rights, other thinkers focused on the good of society in general. They condemned the evils of industrial capitalism, which they believed had created a gulf between rich and poor. To end poverty and injustice, they offered a radical solution—socialism. Under socialism, the people as a whole rather than private individuals would own and operate the means of production—the farms, factories, railways, and other large businesses that produced and distributed goods. Socialism grew out of the Enlightenment faith in progress, its belief in the basic goodness of human nature, and its concern for social justice.

Are Utopians Dreamers?

A number of early socialists established communities in which all work was shared and all property was owned in common. When there was no difference between rich and poor, they said, fighting between people would disappear. These early socialists were called Utopians. The name implied that they were impractical dreamers. The Utopian Robert Owen set up a model community in New Lanark, Scotland, to put his own ideas into practice.

Infographic
Owen’s Utopia

For: Interactive Village
Visit: PHSchool.com
Web Code: nap-1941

Owen Establishes a Utopia

A poor Welsh boy, Owen became a successful mill owner. Unlike most industrialists at the time, he refused to use child labor. He campaigned vigorously for laws that limited child labor and encouraged the organization of labor unions.

Checkpoint

What did early socialists believe?

Reading Check

Describing

What type of working conditions did the industrial workers face?

References and Resources

Rise of the Working Class by Jurgen Kuczynski

Making of the English Working Class by E.P. Thompson

Cultural Foundations of Industrial Civilization by John U. Nef
Sign entering the village. Graphic source: The Next Generation

A living museum can be viewed at Old Sturbridge Village. At the village visitors can ride the stagecoach, interact with the farm animals, talk with costumed historians, and watch the blacksmith, cooper, potter, and farmers at work. In the village visitors can experience life in the 1830s--with 40 antique homes, buildings, and water-powered mills. The village is well worth exploring in some detail.

The flag is central to village life. Graphic source: The Next Generation

Our relationship to God is of paramount importance. Graphic source: The Next Generation

Defense is always a concern for a nation. Graphic source: The Next Generation

If you have questions about 19th Century life you can always "Ask Jack."

Jack Larkin is the Chief Historian and Museum Scholar at the Village, where he has worked since 1971. He is also Affiliate Professor of History at Clark University in Worcester, MA, and consults for many museums and historical organizations. His latest book, Where We Lived: Exploring the Places We Once Called Home. The American Home from 1790 to 1840, was published in 2006.

To feel more at home in the village you will need to know the tools of the trade. A number of fun and educational links are available for the OSV.

Old Sturbridge Village Feature Shown on Al Jazeera Television winter 2008



Laura Linney and Ken Burns on the importance of Old Sturbridge Village



4th of July at OSV.



Redcoats to Rebels at OSV.

Mystic sign. Photo Source: The Next Generation

Mystic Seaport -- The Museum of America and the Sea is the nation's leading maritime museum. In it, you can explore American maritime history first-hand as you climb aboard historic tall ships, stroll through a re-created 19th-century coastal village, or watch a working preservation shipyard in action.

Traditional American Music performed live at Mystic Seaport, CT: Part 1

Traditional American Music performed live at Mystic Seaport, CT: Part 2



Traditional American Music performed live at Mystic Seaport, CT: Part 3



The Charles W. Morgan embarks on a voyage of restoration at the Henry B. DuPont Preservation Shipyard at Mystic Seaport. Shipyard Director, Quentin Snediker explains what is done to prepare the ship for the historic journey.

The Charles W. Morgan is the last surviving wooden whaling ship from the great days of sail. Built in 1841 in New Bedford, MA, the Morgan had a successful 80-year whaling career. She made 37 voyages before retiring in 1921, and was preserved as an exhibit through the efforts of a number of dedicated citizens. After being on display in South Dartmouth, MA, until 1941, she came to Mystic Seaport, where each year thousands of visitors walk her decks and hear the fascinating story of her career as a whaling vessel, historic exhibit, film and media star, and a porthole into America's rich history.

Over the last three decades, the Charles W. Morgan has undergone two regimes of partial restoration along with annual maintenance. Despite these efforts, the inevitable effects of time on the wooden fabric of the vessel's structure demand additional extensive restoration. If left unchecked, these deficiencies will threaten the structural integrity of the Morgan and her use as a primary artifact in Mystic Seaport's interpretive programs.



Mystic Seaport, 1960 (No, this is not Dr. Smith as a boy), from family home movies.



Whaling in popular culture: Mountain, "Nantucket Sleighride"



The cold hard steel of the harpoon's point
Struck deep into its side.
We played out line and backed the oars
And took the cruel sleighride.

The term "Nantucket Sleighride" was coined by the whalers to explain what happened after they harpooned a whale. (Nantucket Island was considered the whaling capital of the world during the 19th century.) The first strike of the harpoon was not intended to kill the whale but only to attach it to the whale boat. The whale would take off pulling the whale boat along at speeds of up to 23 mph (37 kmh). The whale would eventually tire itself out, the leading officer in the boat would then use a penetrating lance to kill the whale.

Nantucket Sleighride is Dedicated to Owen Coffin who was cabin boy aboard the whaler Essex, which was destroyed by a sperm whale in 1819. Owen ended up in the lifeboat with Captain Pollard, his uncle. Two other lifeboats also put out. During the next 3 - 4 months, the lifeboats separated. One was never seen again, but some of those on the remaining two boats were eventually rescued.
During those long months at sea (and on desert islands), many of the men died. The remainder eventually had to resort to cannibalism to survive. After the dead of natural causes were consumed, the men determined to draw lots to see who would sacrifice his life for the others. Owen Coffin ``won'' the lottery. The Captain tried to take Owen's place, but the youth insisted on his ``right''. The executioner was also drawn by lot. That ``winner'', another young man named Charles Ramsdell, also tried vainly to swap places with Owen. Again he refused. Owen's body kept the others alive for ten days (Captain Pollard refused to eat his nephew). Another man died, and his body kept Pollard and Ramsdell alive a few more days until they were rescued.

Lyrics
Goodbye, little Robin-Marie
Don't try following me
Don't cry, little Robin-Marie
'Cause you know I'm coming home soon
My ships' leaving on a three-year tour
The next tide will take us from shore
Windlaced, gather in sail and spray
On a search for the mighty sperm whale
Fly your willow branches
Wrap your body round my soul
Lay down your reeds and drums on my soft sheets
There are years behind us reaching
To the place where hearts are beating
And I know you're the last true love I'll ever meet
Starbuck's sharpening his harpoon
The black man's playing his tune
An old salt's sleeping his watch away
He'll be drunk again before noon
Three years sailing on bended knee
We found no whales in the sea
Don't cry, little Robin-Marie
'Cause we'll be in sight of land soon

Agriculture

Farming and everyday life during the past 250 years

Children who lived in the English countryside

The Agricultural Revolution

Transportation, Industrial Revolution

Stephenson's Rocket Animation

The Spinning Mill Animation

Britain at the time of the Great Exhibition

Who Wants to Be a Cotton Millionaire?

Iron Bridge Virtual Tour

New machines that brought changes in America

Review changes of the 18th and 19th centuries

The Industrial Revolution

The everyday life of children in Victorian Britain (including the cities)

Online game about life in an industrial Victorian city

Take a tour of a workhouse

Children were often exploited during the Industrial Age; one of the most well-known stories from the period is the story of Oliver.

The 2005 trailer for Oliver Twist by Charles Dickens, in the film adaptation:

HW email to gmsmith@shanahan.org

1. Connecting to the Past, #1 - 3, p. 369.

AP Economics: 1 December 2009

Prayer: in Quarter 2 henceforth, alphabetical, in student order beginning from row 1, seat 1, etc., each day, if the scheduled person is absent then the next person will pray.

Current Events:

Congressman Michael Brady scolded Treasury Secretary Tim Geithner during a testy hearing on Capitol Hill, telling the former New York Fed chief that he should never have been hired and demanding that the TARP program come to an abrupt end, shortly after GOP Rep. Kevin Brady had called on Geithner to resign.

“The public has lost all confidence in your ability to do the job,” Brady told Geithner during a heated Joint Economic Committee meeting, adding that he had failed to oversee an economic recovery before asking Geithner, “Will you step down from your post?”

Geithner responded by claiming that confidence in the economy was substantially stronger than before Obama took office, to which Brady responded, “Tell all of that to the millions of American who no longer have jobs because of your decisions,” adding, “At some point you have to take some responsibility for your decisions.”

“This is your budget! This is your bailout”, shouted Brady.

Obama pledged to create 3.5 million new jobs by 2010, however, with unemployment running at 10.2 per cent, and with 3.5 million jobs lost, the Obama jobs deficit stands at over 7 million.

Shortly after the fracas, Rep. Michael Burgess confronted Geithner on how TARP funds were used to bail out banks in Europe while the American people suffered with spiraling mortgage defaults and unemployment.

“We’ve got the TARP, it’s supposed to expire, why won’t we let it die a natural death rather than letting it painfully linger?” asked Burgess, to which Geithner responded, “We are working to put TARP out of its misery,” contradicting reports of a “second stimulus” being planned for early 2010.

Geithner’s claim that he was working aggressively to terminate TARP programs was met with Burgess’ response, “Well it looks like money is going out with little or no oversight,” which Geithner denied, despite the fact that Fed chairman Ben Bernanke admitted earlier this year that he didn’t know which foreign banks had received over half a trillion dollars in credit swaps when pressed by Congressman Alan Grayson, who this week introduced an amendment with Ron Paul to secure more oversight on money leaving the U.S. earmarked for foreign banks.

Burgess stressed that small businesses were frightened of adding jobs because they were worried about the potential costs of health care, regulation and the impact of the cap and trade program, stating, “We don’t need another stimulus, we need to provide some tax relief and then get the heck out of the way and the American economy will recover as it has always done.”

Referring to Brady’s comments, Burgess commented, “I don’t think that you should be fired, I thought you should never have been hired.”

“I’ll tell you, my constituents, they’re not just anxious, they are mad, they are fighting mad about what is happening in the economy, they’re fighting mad about what is happening in the stimulus,” concluded Burgess.

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 can begin Chapter 6.

Chapter 6 Overview Consumer Choice and Demand

The analysis of consumer choice in this chapter begins with the consideration of the
budget line. Total and marginal utility are then introduced and discussed, and an
incremental process is detailed through which a hypothetical consumer (and the
students) can see the utility-maximizing combination of two goods. The derivation
of the demand curve is then presented and the chapter concludes with a discussion
of consumer surplus. For instructors who wish to use indifference curves in the
analysis of consumer optimization, a detailed appendix is provided.

Ch. 6, Consumer Choice and Demand, PowerPoint presentation.

Handout Ch. 6 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 6, answer the two Checkpoint questions, p. 147 & pp. 152-153.