Beyond the Sound Bites (if time after Quiz 12.3):
Clear your desk except for a pencil. Once everyone is quiet, and no talking during the Quiz, we can begin. Be sure to put your name on the Quiz and the Scantron. You may write on both the Quiz and the Scantron.
If you finish early, you may take out non-class materials; once everyone is finished, put away the non-class materials. Then, I will collect the Scantron first, and then I will collect the Quiz.
Be sure your name is on both the Scantron and the Quiz.
If your name is not on the Quiz it will not be returned.
http://www.youtube.com/watch?feature=player_embedded&v=Qf-AqPTdVfI
Obama administration
In February 2009, Jeffrey Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the president and his administration with advice and counsel in fixing America's economic downturn.
On January 21, 2011, President Obama announced Immelt's appointment as chairman of his outside panel of economic advisers. The New York Times reported that Obama's appointment of Immelt was "another strong signal that he intends to make the White House more business-friendly." Immelt will retain his post at G.E. while becoming "chairman of the Council on Jobs and Competitiveness, a newly named panel that President Obama is creating by executive order."
Compensation
As CEO of General Electric in 2007, Immelt earned a total compensation of $14,209,267, which included a base salary of $3,300,000, a cash bonus of $5,800,000, and stocks granted of $4,713,000. In 2008, he earned a total compensation of $5,717,469, which included a base salary of $3,300,000, stocks granted of $2,044,650, and other compensation of $372,819. In 2009, Immelt earned a total compensation of $5,487,155, which included a base salary of $3,300,000, and stocks granted of $1,791,000. Cf. Wikipedia
Via: OnlineMBA.com
The Chapter 12 Section 2 Quiz Make-up is today.
Cross out "f."
The Chapter 12 Section 1 Quiz Make-up is today.
The Chapter 11 Test Make-up is today.
The Chapter 11 Section 3 Quiz Make-up is today.
The Chapter 11 Section 2 Quiz Make-up is today.
The Chapter 11 Section 1 Quiz Make-up is today.
The Chapter 10 Test Make-up is today.
Skip #31; leave it blank.
The Chapter 10 Section 3 Quiz Make-up is today.
The Chapter 10 Section 2 Quiz Make-up is today.
The Chapter 10 Section 1 Quiz Make-up is today.
The Chapter 9 Test Make-up is today.
The Quiz 9.(4) Prep Page is available.
For the Make-up Quiz, consider the material found in Chapter 9 Section 3:
minimum tax, VAT (Value-Added Tax), flat tax, federal tax reform, business taxes, profits, tax burden, personal income rate, depreciation, investment tax credit, and, capital gains.
Cf. http://shanawiki.wikispaces.com/Honors+Business+Economics+Chapter+9+Section+4+Quiz+Prep+Page+Spring+2011
Standard feature:
The electronic edition of the Philadelphia Inquirer is available. We have the Sunday edition, available on Mondays, in addition to the Tuesday through Friday editions on the other days.
Please follow the steps below:
URL: http://nie.philly.com
Click on the words "Access e-Inquirer" located on the gray toolbar underneath the green locker on the opening page.
Login:
Username: bshsinky@shanahan.org
Password: 10888
Unit 4 Macroeconomics: Performance and Stabilization
Chapter 12 Macroeconomic Performance
Business Week News clip
The Get (Much) Richer
In-class assignment, with a partner, answer the questions.
p. 346, What words and phrases can you identify in the article that help reveal the author's point of view?
2. Does the author state opinions or facts? What bias might be evident in these statements?
The Global Economy and You
Global Fruit
p. 351, 1. What country is the largest buyer of U.S. FRUIT?
2. What are concerns about shipping fresh fruit from other countries?
3. What fruit is available because of global trade?
Preview
Chapter 13
Economic Instability
Section 1 Business Cycles and Fluctuations
Business fluctuations and cycles interrupt economic growth. Business cycles are the regular ups and downs of real GDP. There are many factors that influence business cycles: changes in investment spending, innovation and imitation, monetary policy decisions, and external stocks. The Great Depression of the 1930s was the worst economic decline in United States history. The economy has been much more stable since World War II with a series of short, mild recessions. While seemingly unavoidable, business cycles can be anticipated with tools such as econometric models and statistical series such as the index of leading indicators.
Web Activity
http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit4/chapter13/student_web_activities.html
business cycles
In-class assignment, with a partner, answer the questions.
The business cycle described here preceded the recession.
How does the business press characterize the economy?
What happened by the March of 2000?
Are we in a new economy hereafter?
What factors do we need to consider?
What is the multiplier effect?
What elements are part of the business cycle?
How does the cycle work (when working well)?
http://www.youtube.com/watch?v=E2p3Qr97oqE
Economics: The Future of the Business Cycle, 4:34
business fluctuations
In-class assignment, with a partner, answer the questions.
Economics: Recessions, Depressions, and Booms, 3:20
What does the trend line represent?
Draw the business cycle along the trend line.
What is the bottom called?
What is it called when the cycle is on the upswing?
What do we notice after the 1940s?
recession
In-class assignment, with a partner, answer the questions.
Economics Professor on Recession, Unemployment & Consumer Spending, 3:13
What's wrong with the 2010 economy?
What are some of the near issues that affect unemployment?
What about the renewed Real Estate Tax Credit Extensions?
What are you seeing business owners doing?
Your thoughts on consumer spending?
How do we get out of recession?
peak
trough
expansion
In-class assignment, with a partner, answer the questions.
On YouTube
The Conversation: Understanding China's Expansion, 2:03
What people are attracted to Asia?
What elements are needed for expansion?
What is China trying?
http://www.youtube.com/watch?v=mB-9TNv04cY
Tony Chan from Hong Kong University explains China's massive growth.
trend line
depression
depression scrip
leading economic indicator
In-class assignment, with a partner, answer the questions.
Economics: Index of Leading Economic Indicators, 4:34
What is your best source?
What is the most famous?
What is it?
What does it indicate?
How long ahead does it project?
What does it figure out?
What behaviors indicate the direction of the economy?
How many leading indicators are there?
Name a few of the indicators.
composite index of leading economic indicators
econometric model
In-class assignment, with a partner, answer the question.
13.1 Reading Strategy
Complete the graphic organizer by identifying factors that can cause changes in the business cycle.
Issues in the News
Economic Growth Totters
Business Cycles: Characteristics and Causes
In-class assignment, with a partner, answer the following.
When does a cycle begin and end?
What are the phases?
If the economy continues to expand; what is this called?
13.1 Business Cycles
http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p354.swf
Phases of the Business Cycle
Changes in Investment Spending
Innovation and Imitation
Monetary Policy Decisions
External Shocks
In-class
Reading Check
Summarizing
What are thought to be the cause of business cycles?
Business Cycles in the United States
The Great Depression
Causes of the Great Depression
Recovery and Legislation
Cycles After World War II
In-class
Inferring
What impact did the Great Depression have on the United States?
In-class
13.2 Index of Leading Economic Indicators
http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p358.swf
What can the Index show?
What can it predict?
On average, how many months before a recession begins does the Index indicate it?
How many months before a recovery begins does the Index reveal this?
Forecasting Business Cycles
Using Everyday Economic Statistics
Using Econometric Models
In-class
Reading Check
Analyzing
Why are short-term econometric models more accurate than long-term models?
13.1 Review
In-class assignment, with a partner, answer the question.
Use the graphic organizer to identify the causes and effects of the Great Depression.
Business Week
News clip
Dog Days: A Frank Look at the Economy
Section 2: Inflation
Inflation is the increase in the general level of prices of goods and services. Several price indexes are used to measure inflation. Consumer price index (CPI) is a statistical series that tracks monthly changes in the prices paid by urban consumers for a representative "basket" of goods and services. Another index is the producer price index (PPI), which is a monthly series that reports prices received by domestic producers. Causes of inflation include strong demand, rising costs, and wage-price spirals, along with a growing supply of money. Therefore, inflation can reduce purchasing power, distort spending, and affect the distribution of income.
Resources
Overviews
http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit4/chapter13/chapter_overviews.html
Student Web Activity
http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit4/chapter13/student_web_activities.html
In Motion
13.1 Business Cycles
http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p354.swf
13.2 Index of Leading Economic Indicators
http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p358.swf
13.7 Measuring Consumer Discomfort
http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p374.swf
Crossword Puzzle
http://www.glencoe.com/sec/socialstudies/tutor/economics/econprinciples2005/puzzles/epp2005_13.html
Flashcards
http://www.glencoe.com/qe/efcsec.php?qi=15463
Ch. 13 Multiple-choice Quiz
http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit4/chapter13/self-check_quizzes.html
Wisconsin Labor Protests - Noodles, 1:36
Homemaking Knowledge Contributes To The Enrichment of Life, 9:19
From the "Why Study Home Economics?" (1955); Two teenage girls learn how a knowledge of homemaking can contribute to the enrichment of life. They also learn about the vocational opportunities available to home economic students. Home economics, is an academic discipline which combines aspects of consumer science, nutrition, cooking, parenting and human development, interior decoration, textiles, family economics, housing, apparel design and resource management as well as other related subjects. Producer: Centron Corporation; Creative Commons license: Public Domain.
Slo-mo Jello 1:00
Over Population Nightmare from 1960s - Star Trek's Mark of Gideon, 2:47
Sing along to Abattabad, :54
PaperPhone, 1:39
PaperPhone is the world's first nextgen, thin film smartphone and interactive paper computer. It is based on a 3.7" flexible electrophoretic (E Ink) display that does not consume electricity when it is not refreshed. Thinfilm sensors allow the phone to respond to bending of the screen to navigate pages in ebooks, play or pause mp3s, make phone calls, or navigate apps. A flexible wacom tablet allows users to draw on the screen with a pen as if it were a sheet of paper.
For more information visit http://www.hml.queensu.ca/paperphone
http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit3/chapter11/self-check_quizzes.html
Business Cycle Rap (Teach Me How To Dougie Parody), 4:47
Economics Theorist Project by: Or S. & Nadya P
Schumpeter - Business Cycle
"Teach Me 'Bout The Cycle"
Lyrics:
*Anthem of former Austria-Hungary
Aye! Aye!
They ask me, Schumps (what?)
Can you teach me 'bout the cycle?
You know why?
It's what the economy goes by
All I need are his theories and some simple math.
So you, you, and you will learn 'bout this in ropo's class
First stage, off the page, its the business start-up
They gonna be all over it when they hear about that cycle right?
Invest resources like land labor capital
New ideas are important to succeed
establish a position in the market, its what they need
creating a rep(utation) among the investors and consumers
first step has high risks to end up like a loser
marked by lower profit margins
is the price paid by entrepreneurs
[Refrain]
Teach me 'bout the cycle
T-Teach me 'bout the cycle
Never change the cycle
Never Never change the cycle
E'erbody know it, E'erbody know it (T-E-P-R)
You ain't messin' with the cycle (T-E-P-R)
The T is for trough
The E is for expansion
The P is for peak
The R is for recession
E'erbody know it, E'erbody know it (T-E-P-R)
You ain't messin' with the cycle (T-E-P-R)
The name is Schums
For thoses that don't know him
This stage has economic growth and money
A rise in consumer demand isn't funny
They've built a core of loyalty and trust
A group of consumers come back as a must.
Keep up with rising sales and further expansion
They have to increase what's essential.
Manufacturing n' production, these inputs are substantial.
Once upgraded and aided, its part of the plan
Their profit margins continue to rise, 'cause they know they can
Gaining status and approval, they establish their niche
Ads and commercials, can't keep 'em on a leash.
[
As a brand name in the market,
they put money in their pocket.
It's all positives here as they continue to cheer...
Refrain
The third stage, they're at a certain age
When the business matures.
They've fixed every fault and filled every hole
Now they travel through the market on cruise-control
The sales reached a regular amount
Less resources employed on their account
No retirement required, they are not disabled
Stuff profit in the pocket, the margin's still stable.
Venture out, attempt product innovation
It's their call, they're in charge of navigation
Nothing's off limits, the options swirled
Cause they're happy where they are,
On top of the world
Refrain
The final stage is the toughest of all
Favourable conditions are hard to stall
When economic activity is reduced by a lot
The decline in buying and selling cannot be fought
Since employment / also circles the drain
Followed by production and most domaine(s)
None of which / they'll be able to sustain.
They struggle in the market, trying to self discover
Hoping that they will quickly recover
Refrain
Don't focus on the trees, look at the forest
(E'erbody know it, T-E-P-R)
Don't focus on the trees, look at the forest
(You ain't messin' with the cycle)
That's all you need to know 'bout circular flow; Peace.
Coca-Cola Rocket
Email (or hand in hard copy) to gmsmith@shanahan.org.
Wednesday HW
1. p. 348, #10-15 (just write the correct word)
Thursday HW
1. p. 348, #16-18.
Friday HW
1. p. 348, #19.
