Beyond the Sound Bites:
The Higher Education Bubble
Cf. http://youtu.be/hCP8Z8X0cMw
It is often said that a process that cannot go on forever, won't. Over the past few decades, college and graduate tuitions have climbed much faster than the rate of inflation and the growth of household income, with the difference being made up by debt taken on by students who assumed they'd have no trouble paying it off after graduation. Now students are graduating with big debts, but no jobs. This process can't go on forever. What happens when it stops?
Glenn Harlan Reynolds is the Beauchamp Brogan Distinguished Professor of Law at the University of Tennessee. The author most recently of An Army of Davids: How Markets And Technology Empower Ordinary People To Beat Big Media, Big Government, And Other Goliaths, Reynolds is also a Contributing Editor at Popular Mechanics, a columnist at the Washington Examiner, and the host of "InstaVision" on PJTV.
A Tuition Bubble? by Andrew Gillen
Will Higher Education Be the Next Bubble to Burst? By Joseph Marr Cronin and Howard E. Horton
Price of Admission: America's College Debt Crisis
America's Most Overrated Product: Higher Education
The Chapter 13 Section 1 Quiz Make-up is today.
The Chapter 12 Section 3 Quiz Make-up is today.
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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.
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The Chapter 10 Test Make-up is today.
Skip #31; leave it blank.
The Chapter 10 Section 3 Quiz Make-up is today.
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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
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If you have been studying for the Exam since I first posted guidelines on "May 17, 2011 1:51 pm" you should be fine; however, these are intended to be helpful suggestions to improve your score.
Cf. http://shanawiki.wikispaces.com/Honors+Business+Economics+Senior+Exam+%26+%28Junior%29+In+Class+Exam+Spring+2011+
Unit 4 Macroeconomics: Performance and Stabilization
Chapter 13
Section 2: Inflation
In-class
Review
Use a graphic organizer to identify the steps in measuring inflation.
In-class
Profiles in Economics
Milton Friedman
p. 368, #1, How did Friedman disagree with other economists about achieving economic stability?
#2, How do you think the quality of education would be affected if free market principles were applied to schools?
Milton Friedman - Socialism is Force, 6:39
Why did socialism fail in the Soviet Union?
What values does socialism have?
In contrast, what values does capitalism possess?
What happens when you try to do good with other people's money?
When is the most harm done?
Who was worst between Lenin, Mussolini, and Hitler? Why?
Milton Friedman discusses the moral values encouraged by economic systems and explains that a primary difference between capitalism and socialism is the difference between free choice and compulsory force.
Section 3 Unemployment
civilian labor force
labor force
unemployed
unemployment rate
frictional unemployment
structural unemployment
outsourcing
technological unemployment
cyclical unemployment
seasonal unemployment
GDP gap
misery index
discomfort index
In-class
Complete a graphic organizer by describing the different sources of unemployment.
In-class
Reading Check
Summarizing
How do we calculate the monthly unemployment rate
Reading Check
Interpreting
Which categories of unemployment do you think are the most troublesome for the U.S. economy? Why?
Reading Check
Identifying
What makes the GDP gap a type of opportunity cost?
In-class
Use a graphic organizer to identify the people who are considered unemployed and those excluded from the civilian labor force.
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.
Guideline: the class schedule does not replace the official school Calendar.
Email (or hand in hard copy) to gmsmith@shanahan.org.
Wednesday HW
1. p. 348, #26-28.
