March 8th

Graduation Day

March 7th

The class will complete the Survey Monkey for their classes (2 or 3). The class will go through and discuss what each question is asking.

March 6th Final Exam Day 3

Will finish the Economic Jobs Activity.

March 3rd Exam Day 2

The class will get their Finals back. They can add up their marks and ask questions. They will then work on an Economic Jobs Activity.

March 2nd Exam Day 1

Students will write their Final Exam

March 1st (club day - short day)

The class can study for the Final Exam tomorrow.

February 28th

The class will discuss what they learnt about Toyota yesterday. Students will then do a vocabulary activity on the following words: brokerage(s); currency(ies); bond(s); stock(s); conversion; malady; pessimistic; devalued; appeased; defaulted; commodity(ies), regulate, mechanism(s);plunged. Students will get into groups of four. Each group member is responsible for learning 4 of the words and teaching the others the meaning. After thirty minutes of this activity, the class will come back together and read about Globalized Financial Markets. Discuss what Globalized Financial Markets are; three of the functions they carry out; why has this developed; concerns with GFM; and how could they impact the world and countries. After completing the activity, students will have the rest of the period to study for the exam on Thursday.

February 27th

The class will review the learning goals and success criteria for globalization so far. Next the class will go for a Multinational Company document that will re-enforce previous knowledge and introduce new material. After students can get into groups and do an exercise on Toyota. Students will use the Toyota home site to research the following information.

• capital available
• countries where Toyota is now located (list a few examples and give the total number)
• countries where Toyota sells its product (list a few examples and give the total number)

They then need to research the Internet to find the following information:

• Toyota's impact on the GDP (take a look at the yearly profits for 2016)
• current trends by Toyota (resources, recalls, etc.)

They then need to answer the following questions:

• How would a large recall of cars (problems with the car) impact Toyota? Japan?
• How could Toyota impact the economy of countries like Canada and the US?
• How could current trends towards a freer economic system throughout the world impact how Toyota does business? How could this impact Japan?

February 24th

Ski trip - NO CLASSES

February 23rd

Students will complete their Final Paper.

February 22nd (club day - short day)

The class will have time to work on their Final Project.

February 21st

The class will first create success criteria for Globalization. Then we will take a look at a handout about the Factors Driving Globalization. We will take a look at the difference between comparative and absolute advantage through a reading. Discuss as a class so that they understand another reason why nations trade. Students can then watch Comparative Advantage video They will then work on their final project or study for their test.

February 20th

The class will create success criteria based on the learning goals for the Public VS Private Sector lesson. Students review the lesson. Next the class will discuss what they believe GLOBALIZATION is; what is the goal of GLOBALIZATION; and do they believe it has been successful. Reasoning with Evidence: What made you say that? The class will then look at a series of cartoons about globalization and discuss what they think the artist is saying about globalization.

Globalization Cartoon 1 - Problems of Globalization Illustrated

Globalization Cartoon 2 - Living room

Globalization Cartoon 3 - Labour and Globalization

Globalization Cartoon 4 - How to Save the World

Globalization Cartoon 5 - Truthdig

When finished, students can work on their Final Project which is due Thursday.

February 17th

The class will view a slide show about Private and Public Companies. Students answer the questions at the end of the slide show. Discuss. When finished, students can work on their Final Project.

February 16th

Students will have some time to complete the reading and questions on Keynes. Discuss the answers. The class will then create the learning goals for this activity from AD/AS to Fiscal Policy. The class will discuss Government Budget Options together. If time left over, the class can work on their Final Project.

February 15th (club day - short day)

The class will start by discussing Changes in Aggregate Supply. Next the class will take a look at Fiscal Policy through a hand out. Next students will read about some ideas on Fiscal policy brought about by Keynes in a reading: Case Study: The Birth of the Keynesian school. Students will be required to read the document and answer the questions. They will have some time tomorrow to work on it.

February 14th

The class will start by reviewing the 3 Economic Indicators. Discuss AD/AS. Next the class will look at how AD/AS curve can impact society by looking at and discussing a graph.

The class will then start to look at Changes in Aggregate Demand. As the class goes over the Changes in Aggregate Demand document we will discuss how each factor would influence aggregate demand. Students are encouraged to take notes so that they can understand. Students then attempt to do the same with the Changes in Aggregate Supply.

February 13th

The class will have a chance to work on their Labour Posters, which are due on Tuesday. I will be away on a field trip. Mr. Skinner will be supervising the class. Please go to his room in the morning.

Please check the following list to see that you are doing a good job with the poster assignment.

1. Read the questions for the assignment on the site (Labour Poster Assignment)
2. Look at the rubric that you helped design to find out exactly what is being marked.
3. Use the reading to find the answers. Remember this is practice for university so you should have detailed information. Think about our discussions before on how to find important information.
4. Write an opinion paragraph about unions. This should be in the same format that we used in class. (3 supports!)
5. Design a poster based on the criteria that you see on the rubric.

February 10th

The class will have time to work on their Labour Poster Project. During the class, we will be called down to see the JAXA presentation.

February 9th

The class will make success criteria for the third economic indicator: CPI. Review CPI using the success criteria. Next the class will look at Aggregate Demand & Supply. Students will use the dictionary link to see what Aggregate means (definition 4). With the definition, they then try to explain the concept of Aggregate Demand & Supply. Discuss. Next the teacher will go over the concept of Aggregate Demand & Supply with the activity, Introduction to Fiscal Policy. The class will then have time to work on finishing up their research notes for the final project or working on their Labour Poster Project.

February 8th (club day - short day)

The class will add to the success criteria for the Unemployment Rate. Next the class will discuss what they came up with for solving the various types of unemployment. The class will then discuss what are the positives and negatives of using the unemployment rate as an economic indicator. The class will then be introduced to the third indicator: CPI.

February 7th

The class will create success criteria for Unemployment Rate. We will then review what we learnt yesterday about the rate. Students will look at the Survey that the Canadian Government uses to determine the rate. In small groups, they put down four 'surprises' or 'interesting' things that they noticed about the survey. Discuss their findings as a group. Next the class will learn about the different types of unemployment. Students create a chart with the name of the unemployment, definition of each type, and possible solutions to reduce the number of people in that unemployment type. In small groups, students will discuss and come up with two possible ways the government could reduce the number in that group. Reasoning with Evidence. What made you say that? The teacher will start off with an example to help the students understand what is required. When finished, the class can work on their Labour Poster or Final Assignment.

February 6th

Students will get their Unit #2 Test #2 back. They can go over it to check for addition mistakes and any questions that they have on the marking. Next the class will discuss their answers about the GDP. The class will then discuss the success criteria for the GDP. In small groups, students answer the following questions based on what they know or think they know. NO RESEARCHING.

1. What is your definition of unemployment rate?

2. How do you think we find the unemployment rate?

3. Why do you think that the unemployment rate is the economic indicator that often gets the most attention by the population? Reasoning with Evidence. What made you say that?

4. What kind of societal problems to you think would occur it there was a large unemployment rate? Reasoning with Evidence. What made you say that?

The class will then discuss their answers together. After the teacher will give them a definition of unemployment rate. They will have a short lecture on unemployment. Students will then read and make notes on Full Employment.

When completed, they can work on their Labour Poster assignment.

February 3rd

The class will write the Unit #2 Test #2. If finished, they can work on their Labour Poster.

February 2nd

The class will continue to look at the economic indicator of the GDP. The class will read about the problems with the GDP with the reading: Case Study: Grossed Out (Gross Domestic Product). Students will complete the questions about the reading. When they have completed the questions and shown their answers to the teacher, they may study for the test tomorrow.

February 1st (Parent Teacher Interview Day - short day)

The class will be divided up into groups that will be responsible for creating proposed success criteria for the Thinking, Communication, and Application section of the Labour Poster Assignment. The class will go over the notes on Economic Decision Making.

January 31st

The class will be introduced to the Labour Poster Assignment. Students can then start to work on the project. Will be due on February 13th. They should think about the success criteria for T, C, and A.

January 30th

The class will discuss the answers from the questions they completed on Thursday. Next the class will create success criteria for the activity. The class will go over the Wage Determination reading together. Students will then work on the reading: Concept of Human Capital in small groups.

January 27th

The class will write their Unit #2 Test #1. When finished they can work on their Final Project. Please don't forget your research questions (Factual, Causal and Comparative) and bibliography for the Final Project are due Monday.

January 26th

The class will look at two documents about Factors that Shift the Labour Demand and Supply Curve. In small groups will read and discuss Development of Early Labour Movements in Canada and then answer some questions. When finished students can study for their Unit #2 Test #1 tomorrow.

January 25th (club day - short day)

The class will finish up with the rest of the PPTs. The class will then create the success criteria for the activities about Labour that we finished before. Students will see if they have mastered the learning goals from the lesson by answering questions Direct & Derived Demand and MRPL on the blog.

January 24th

The class will present their Economic Philosophers PPTs.

January 23rd (Midterm Exam Day 3)

Students will have this period to practice their PPT in groups. Students will practice giving their presentations in front of a small group of peers. The peers will then suggest how they can improve their PPT for the next day.

January 20th

The class will take an in depth look at Marginal Revenue Product of Labour (MRPL) with a reading from the text, demonstrating it with a pizza example. When finished, students can work on their PPT project.

January 19th (Midterm Exams Day 1)

The class will discuss the success criteria for giving a good presentation (creating the presentation and oral skills). After creating the criteria, the class will review the different types of industrial activities. We will then check to see if they understand the different types of competition.

The class will go over the Labour Notes found below.

Labour Notes

As we have studied there are many different kinds of resources that are required to create a successful business. Businesses must take a look at all this points when they are starting up, developing, and maintaining their companies. One of the most important resources they must consider is Labour.

Labour

The concept of the demand for labour is very similar to the concept of demand for goods and services. Both of these concepts are dependent on the quantity that is demanded at a given price. In the case of labour the price would be the wage given to a worker for a particular job.

Direct demand – the demand for goods and services as consumers can determine it directly by using their dollars as votes to let producers know what value each product is worth.

Derived demand – the demand is dependent (derived from) on what consumer demand is for that particular good or service.

Another important concept in determining the wage for labour is the productivity of each worker. What do you think productivity is?

Productivity is a concept that measures how much a worker can produce over a certain time period. Productivity is an important concept as it influences both the price of the good and the wage for the worker.

Another concept that is important to the demand of labour in the workforce is called the marginal revenue product of labour (MRPL). This concept states that as an additional unit of labour (a worker) is added to a firm’s productive process, the additional output that is made by that unit is known as the marginal product. The marginal revenue product of labour is the amount of additional revenue that is gained by the selling of the marginal product.

If the company is operating in perfect competition, the equation would be very easy to calculate the marginal product because each new unit produced is sold at the market price.

When finished discussing Labour, students can have the rest of the period to work on their PPT.

January 18th

Students have an opportunity to work on their PPT project.

January 17th

The class will look at the Types of Industrial Activity using the Prezi Presentation. Students use the Types of Industrial Activity Organizer to take notes during the presentation. They are given an extra reading on Types of Industries to reinforce the Prezi. Then the class will start to look at the different types of competition with the Types of Competition reading. As they are reading, students are asked to fill in the chart they produce based on the following information: title: Firms, Competition, and the Market; 5 columns, 6 rows, across the top row from left to right: Characteristics, Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly. e.g.

from the second row down on the left side: 1. Number and size of firms in the market, 2. Degree of product similarity in the market, 3. A firm's control over price, 4. Ease with which firms can enter or leave the market, 5. Amount of non- price competition.

If finished, students can work on their final project.

January 16th

Next the class will be introduced to the Philosophers of Economics Presentation Assignment. When the introduction is complete students can work on their project.

Groups

Presentation Groups and Philosophers

Adam Smith (1723 - 1790) - Group 1, Group 8

Thomas Robert Malthus (1766 - 1834) - Group 2

David Ricardo (1772 - 1823) - Group 3

Karl Marx (1818 - 1883) - Group 4, Group 9

John Maynard Keynes (1883 - 1946) - Group 5

John Kenneth Galbraith (1908 - 2006) - Group 6, Group 10

Milton Friedman (1912 - 2006) - Group 7

January 13th

The class will discuss their opinion paragraphs on Rent Control. How did they do it? How did they prepare for the writing? Did they use a +, - chart to evaluate both sides? What was hard about writing the paragraph? Students use the Success Criteria below to evaluate their own paragraph.

The class will then have to read about Minimum Wage and create an opinion paragraph on that. The class will talk about the success criteria of the paragraph. Using the success criteria of the rent control paragraph, what would the success criteria be for minimum wage? Students create their paragraph. If complete should work on their Final Project.

January 12th

The class will review the last two ways a Government can intervene in a market economy: Subsidy & Quota. The class will look at the learning goal for this activity and create success criteria. When finished students will look at an example of ceiling price with a reading on Rent Control. After reading, students are required to develop an opinion paragraph on if they believe Rent Control should be used or not. They need to have an introduction sentence, 3 supporting reasons with at least 3 sentences for each reason and a concluding sentence. They should also use transitions.

January 11th (short day - club day)

The class will review Ceiling and Floor Price. Next the class will discuss about the last two ways the Government can intervene in the market: Subsidy & Quota. (Government Intervention in Markets) When finished students can work on their projects.

January 10th

The class will go over the Surplus lesson together. Next the class will look at Government Intervention in Markets with an activity lead by the teacher.

December 22nd (last day before break)

The class will discuss what they learnt about Demand. Next the class will create success criteria for demand. The class will then start to work on the Supply section. Just before the end of the period, the class will go over the Final Project.

December 21st (short day)

Today will be the first day of the Second Unit. We will brainstorm what we know about the Market Economy. Next we will do a reading called The Market and answer the questions. We will then start to look at how supply and demand works by going to a Website with activities on the Economics of Demand and Supply. We will go over the first page together, making notes and discussing. Students will then be expected to do the second one by themselves.

December 20th

Students will write their Unit #1 Test. If finished, they can work on their Take Home Test on Economic Goal Setting.

December 19th

The class will review the expectations for the introduction and body paragraphs for their Setting Economic Goals writing. The class will then develop a Conclusion for the example. Add that expectation to those previously discussed. Students then have a chance to work on their project or study for the test tomorrow.

December 16th

The class will discuss a possible hook for the example paragraph. Next we will finish completing the body paragraph example. The class will work on the First Body Paragraph together making sure that the students understand the expectations. Students will practice writing the second paragraph themselves. They then exchange the paragraph and using the checklist they helped create (on the board) they will give feedback to their partner.

December 15th

The class will continue to work on Setting Economic Goals: A Canadian Example. We need to start from Equitable Distribution of Income. When finished, the class will be introduced to the Take Home Test assignment. After introducing the assignment, the class will do a practice writing talking about “improving public education.”The form of the paper will be re-enforced by the teacher (Introduction, Hook, Thesis Statement, 3 Body Paragraphs, Transitions, Introduction & Concluding Sentences, and the overall Concluding Paragraph.) TAKE HOME TEST RUBRIC.

December 14th (club day - short day)

We will start by quickly reviewing how the 3 types of societies answer the 3 questions. Then we will then start to discuss Economic Goal Setting by countries through the Setting Economic Goals: A Canadian Model document . The class will then discuss the goals in more detail. Students will use the Organizer to record details and their opinion if Japan is following the goals or not. (REASONING WITH EVIDENCE: WHAT MADE YOU SAY THAT?)

December 13th

The class will start by creating the success criteria for the three basic economic questions. After the class will discuss what they learnt about the three different economies. Discuss what they think type of economy Japan is. Explain. REASONING WITH EVIDENCE: What made you say that? The class will then brainstorm what are strengths and weaknesses of each type. The class will then discuss mixed economy and why most countries now run some form of mixed economy. The class will be given an additional reading and a chart to help them review / clarify their knowledge of the three economies. (continuation from the reading used in the Jigsaw Activity). If finished, they can work on their graphing assignment.

December 11th

Fiesta.

December 9th (short day - Fiesta prep)

Students will discuss the answers to The Three Basic Economic Questions Review from yesterday's lesson. The class will do a Jigsaw Activity about Traditional, Market, and Command economies. Each group (3 people) member will be responsible for becoming an expert on the one economic type. After they will teach the other members about their type. If finished, they can work on their Graphing Assignment.

December 8th

The class will discuss what they think the definition of Tangible and Intangible Resources is. Students add the definition to the Tangible intangible organizer. The teacher will then put the name of the six subgroups up on the board (land, entrepreneurship, environment , environment for enterprise, labour, knowledge, and capital). Students will discuss in groups to determine which resource type that the subgroup is in. Discuss. Add the subgroups to the organizer. The groups will repeat the process for the Resource base groups. The class will start by looking at the Economic Systems and Production The class will take a look at the 3 questions that societies need to answer with the document, Economic Systems and Production Question. Next the students will attempt a question sheet, The Three Basic Economic Questions Review, on the 3 questions to see if they understand the activity. Correct together. Students will then try to answer the blog question on the Learning Goals of Opportunity Cost / Trade-offs.

December 7th (club day)

The class will finish off the Identifying Opportunity Cost. They complete the exercise in their groups and then discuss the answers as a class. Next the class will come up with success criteria for the activity.

December 6th

The class will start by finishing up the Small Group Discussions (REASONING WITH EVIDENCE: WHAT MADE YOU SAY THAT?) Students will then work on the document: Identifying Opportunity Cost. Here students will try and determine the decisions and why people make the decisions they make based on opportunity cost either in small groups or as individuals.

December 5th

To begin with the class will create the success criteria for the scarcity learning goal. Review scarcity and opportunity cost by answering the success criteria.Then the class will be introduced to how graphs help people understand the trends in economics using the reading (handout), Using Graphs to Understand Relationships. As the class is discussing this, we will also look at the skills needed to create a useful graph. Next together the class will then construct a checklist for the graphing application part of the rubric. The class will look at Small Group Discussions (REASONING WITH EVIDENCE: WHAT MADE YOU SAY THAT?) to reinforce the idea of opportunity cost and trade offs. For the last thirty minutes, students will have time to work on their Graphing Assessment. Students are reminded to think of and include a good title, a straight line, appropriate labels on the line, as well as labeling both the x and y axis correctly. Make sure that you proofread your writing and say what you would like to say.

December 2nd

The class will start by reviewing Economics as a Social Science, Scientific Method, Normative and Analytical / Positive Economics. (remember to connect to the learning goals) We will then take notes and discuss Scarcity and Choice.

Scarcity and Choice

• Scarcity necessitates choice; therefore trade-offs cannot be avoided.
• Opportunity cost is the "next best" alternative.

Discussion - 'choosing is refusing'

Characteristics of Cost

• all costs are costs to the decision-maker and are thus subject in nature: costs are TO someone.
• only actions have costs; "things" have no cost independent of decisions about using them.
• all costs lie in the future; the anticipation of future consequences shapes peoples decision.

To the decision-maker, the relevant value of something is its marginal value. Marginal is similar to additional or "a little or a little less". (costs and benefits)

E.g. a person's willingness to bear costs is situation-specific: the marginal value of a cup of water is very low to those who can quickly turn on the tap; its value is high to someone dying of thirst in a desert.

Prices reflect opportunity costs and help buyers make decisions.

• costs and price are not the same, in economic terms
• a rising price (or a high price) means that buyers bear higher opportunity costs; they must give up more to obtain something. All other things being equal, they will choose to buy less.
• a failing price (or a low price) means that buyers bear lower opportunity costs; they must give up less of other things to obtain something. They will choose to buy more.
• Law of Demand

Prices reflect opportunity costs for suppliers, too.

• suppliers make choices, they could supply other things
• as the opportunity cost of supplying things to others decrease, people are willing to supply more.
• Law of Supply

Review the difference between cost and price. Students will then be download the reading Trade-Offs and Opportunity Costs. Students complete the reading and the questions either as individuals or as a small group. The entire class will discuss the reading and check the answers.

December 1st

The teacher will check to make sure that their vocabulary homework is complete. Discuss why a vocabulary study like this may be helpful to learn new words. Discuss the words. Next the three students will present a short skit about economics. Discuss what the skit shows. Students will be broken up into groups and given a short reading about an aspect of economics. Each student will become an expert on that aspect and teach it to the group. (Jigsaw Learning). The teacher will then wrap up the topic with a short teacher lecture.

November 30th

An Introductory Question in Economics

You and your group are the owners of a business. What kind of business is not important. Three men have come to you looking for work. You have only one job to offer: the work cannot be divided among the three of them and they are all equally qualified. One of your goals is to make the world a better place by hiring the man who needs the job most.

The first man is the poorest of the three. If improving human welfare is your primary aim, then presumably he should get the job. Or maybe not. The second man is not the poorest, but he is the unhappiest because he has only recently become poor and he is not accustomed to the deprivation. Offering him the job will cause the greatest gain in happiness. The third man is neither the poorest nor the unhappiest. But he has a chronic health problem, that he has not complained about his whole life, that can be cured with the wages from the job. Thus giving him the job would have the most profound effect on an individual's quality of life.

Who should get the job? Your group's job is to decide who gets the job and why you choose him. Everyone should record their group's choice and why they choose that person.