SCARCITY! Final Project

Final Project!

Coase Theory Article Link

Link Plus Funny Domain Names

Comic Relief

Yes, I am a nerd. Enjoy.

Federal Reserve Game

Play the Fed Chairmen Game!

Game Theory Activity

I found a good game showing simple game theory (prisoner's dilemma). Print out your high score for extra credit.

Calendar 11/3-11/7 AP

Monday - Quiz on Monopolies, Notes on Monopolistic Competition Mankiw Ch. 17

H.W. Read Taylor Ch. 11

Tuesday - Review Quiz, Oligopolies (Video & Mankiw Notes Ch. 16 & 17)

H.W. Review Questions Ch. 11

Wednesday - Oligopolies & Game Theory

H.W. Practice Problems

Thursday - Game Theory and Theory of the Firm Summary

Friday - Theory of the Firm Test! 

Mankiw is the man...kiw

Great excerpt from Mankiw's blog

Economic Terms Website

Here is a great resources for Econ terms.

Link to business structures powerpoint

Visit this site and download Market Structure 1 PowerPoint presentation

-halsey

Mankiw Site with PowePoint Slides

Just stumbled across Mankiw's site with FREE PowePoint Slides. I'll be taking quite a few presentations from him, if you would like a copy, visit his site to download them. Also visit Mankiw's blog to learn more about the author. Hope you had a lovely weekend!

Back up game

Access the other one here (better graphics but not as good)

Lemonade Stand

Click here to play! Remember, the highest score will get 10 extra credit points. Be sure to print the screen to prove your score.

Interesting Article

Hey Guys,

Here's an interesting article about the coming election and the state of the economy. Enjoy!

Awesome Site

Hey guys, 

I stumbled across this site while looking at other AP teacher's websites. It gives a basic explanation of each graph and the reasoning behind it. It basically covers our entire first unit of study. 

-Halsey

First Week Junk - Unit 1

Post questions/comments that you may have for this unit. You will have your first graphing FRQ on Friday, so be ready! 

Time is ticking...

Summer is almost over and it's nearly go time. The first few days of school will be very busy. 

Day 1: Intro to the class, test information, pretest, etc.

Day 2: Naked Economics Test (50 Multiple Choice Questions, 2 Free Response Questions)

Day 3: First Economic Simulation and Free Response/Reflection

Don't forget to ask any questions; there will only be a short time available to discuss on Day 1. Enjoy your last few days of freedom.

AP Summer Assignment Questions

Post questions from the book here! Hope you are enjoying it.

AP Summer Assignment

AP Microeconomics

Summer/Fall 2008

Course Description
AP Microeconomics is a college level course and will be taught as such. The purpose of this course is to give students an understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic system. It places primary emphasis on the nature and functions of product markets and the role of government in promoting greater efficiency and equity in the economy.

Summer Assignment
In order to be entirely prepared for the course, it is essential that a foundation of a basic level of economic understanding has been established. Read “Naked Economics”. There will be a test on the important themes/concepts the first week of school. You will be allowed one 3”x5” card (back & front) for the test. Our class blog halseyecon.blogspot.com will be available for discussion all summer; post questions, comments or insights.

"Naked Economics" Reading Guide
Your test on NE will focus on these areas, however I reserve the right to ask questions that may not be specifically taken from a page listed below. There is not substitute for reading the assigned chapters!!!

Chapter 1- The Power of Markets
Market allocation 3
Assume rational utility-maximizers 6
Opportunity costs 9
Profit max 11
Prices allocate resources 12
Barriers to entry 14
Market price, pricing decision & price discrimination 15
Lessons of markets 18

Chapter 2 – Incentives Matter
Wrong incentives lead to undesirable outcomes 23
Principal-agent problem 30
Prisoners dilemma 34
Creative destruction 36
Tax & govt program disincentives 38

Chapter 3 – Government and the Economy
Externalities 43
Govt solutions to externalities 48
Govt makes market economy possible – rights, laws, regulations 51
Public goods 57
Redistribution 59

Chapter 4 – Government and the Economy II
Govt inefficiency 63
Govt allocation vs private allocation 67
Effects of regulation 69
Effects of taxation 74
Summary 78

Chapter 5 – Economics of Information
Adverse selection 81
Firm screening 89
Branding provides information 90
Branding versus commodities 92
Signaling mechanisms 93

Chapter 6 – Productivity and Human Capital
Human capital 98
Job creation 103
Effects of human capital on standard of living 105
Productivity 107
Income inequality 111

Chapter 7 – Financial Markets
Purposes of financial instruments 118
Efficient markets & index funds 126
Investment guidelines 132

Chapter 8 – The Power of Organized Interests
Interest groups & politicians’ incentives 137
Some regulations benefit business 142
Tyranny of the status quo 144

Chapter 9 – Keeping Score
GDP: importance, real vs nominal, per capita 150
GDP growth & wage growth 152
GDP misses social progress 154
Recessions 156
Fiscal & monetary policy 158
Other “vital signs”: unemployment, poverty, inequality, govt budget, deficit, current acct, national savings, demographics 160

Chapter 10 – The Federal Reserve
Importance of Fed 168
Easy money causes inflation 170
FOMC & monetary policy tools 172
Difficulty of policy decision-making 175
Money 176
Inflation & effects 179
Political pressure to allow inflation 182
Deflation 184

Chapter 11 – Trade and Globalization
Benefits of trade 187
Comparative advantage & specialization 190
Losers from trade 191
Protectionism 193
Trade raises real incomes 195
Trade benefits for poor countries 196
Cultural homogenization 199
Sweatshops 201

Chapter 12 – Development Economics
Importance of policies (vs resources) 206
Effective development policies 208
Exchange rates 217
IMF 225

AP Micro & Macro Meeting

AP Micro & Macro Meeting on Friday, May 30th in room 1038.

Summer Assignment

Reading Naked Economics: Undressing the Dismal Science

Optional Reading Guides: Available here the first week of June

Naked Economics Test - First week of school worth 200 points.

It's been a while

But life is beginning to settle down. Swim season is nearly over, STAR testing is done and we only have 13 days left of school (for seniors!)


3 cheers!

Team USA v. Team Vietnam Pics

Hey Guys,
Here are a few of the photos I took of our Econ simulation. Enjoy!

Ron Paul on Antitrust and Monopolies

Ron Paul is a stud!

FongHistory: Roosevelt's Speeches: Listening to a Little Slice of History

FongHistory: Roosevelt's Speeches: Listening to a Little Slice of History

Benchmark #1 - Semester #2

Benchmarks will be given on the following days:

World History - Thursday 2/21
Economics - Friday 2/22

Benchmark Review Sheets will be due on those days as well. 6 week grades will come out next week. If you have any make up tests to take, it needs to be completed by Friday or you will no longer be able to make it up.

If you are in need of extra credit (10 points per post), post a link to an interesting article that has to do with the following subjects:
WWI, Stalin, WWII, Russia, Hitler, Price Systems, The Sub-Prime Mortgage Crisis, Ron Paul, The Election, Supply and Demand.

FongHistory: Second to Last U.S. WWI Veteran Dies

FongHistory: Second to Last U.S. WWI Veteran Dies

A New Semester...

Welcome to my Econ. Blog. Here you will find videos, reflection guides, test reviews and a general forum to post questions that you may have about the course or about Economics in general. You will also be required to post at least 4 times during the semester. These can be part of a class discussion and will count towards participation points. If you find anything worth sharing (news articles, videos, etc.) You may post them here for extra credit. I look forward to the semester! Cheers!